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Newsletter | Tata Technologies debuts at 140% premium to IPO price; mutual funds with maximum exposure to AI & more
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Newsletter | Tata Technologies debuts at 140% premium to IPO price; mutual funds with maximum exposure to AI & more
Nov 30, 2023 3:25 AM

Here's a rundown of 11 significant news stories to keep you in the know:

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Blockbuster Debut! Tata Technologies becomes best listing of 2023, debuts at 140% premium to IPO price

Tata Technologies, a subsidiary of Tata Motors (TML), made an impressive market debut on Thursday, November 30, listing at a 140% premium to the issue price of ₹500. The stock opened at ₹1,200 on the NSE and ₹1199.95 on the BSE. This is also the best listing since November 2021.

Analysts attributed Tata Tech's bumper debut to its healthy subscription numbers, strong parentage, solid financial performance, and growth potential in the engineering services industry going forward.

Raymond shares post their biggest losing streak on record after 12th day of declines

Raymond shares are down for the 12th consecutive day on Thursday. This is the longest losing streak for the stock on record. The stock has declined nearly 20% during these last 12 sessions.

The 12-day drop has led to the stock losing nearly ₹2,500 crore in market capitalisation.

Prior to this, the stock witnessed its longest losing streak in 2008, when it fell 11 straight days between April 29 and May 14. Earlier, the stock had seen a 10-day drop between March 5 and March 19, 2020 and a similar 10-day drop in 2008 between September 25 and October 10.

Cult US sneaker brand Foot Locker inks exclusive licensing deal with Metro Brands & Nykaa

US footwear and sportswear retailer Foot Locker Inc on Wednesday (November 29) said it has signed a long-term licensing agreement with footwear retail chain Metro Brands Limited (MBL) and online beauty and fashion e-commerce major Nykaa Fashion.

Under the terms of the agreements, MBL is granted exclusive rights to own and operate Foot Locker stores within India and to sell authorised merchandise in these stores.

#TechTalks

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