Ajanta Pharma to consider a proposal for share buyback. RBL bank down; HP Adhesives IPO listing today…

On Thursday, Ajanta Pharma shares closed 1.89% down to close at ₹2,050.15 on NSE. (Ajanta Pharma scrip has risen 24.17% since the start of 2021 (Year-to-Date period)

Ajanta Pharma will hold a board meeting on 28 December to consider a proposal for buy-back of equity shares of the company, according to an official statement.

In line with this, the trading window for dealing in securities of the company will remain closed for designated persons and their relatives from close of business hours of 23 December till 48 hours after the declaration of financial results for the quarter ended December.

On Thursday, Ajanta Pharma shares closed 1.89% down to close at ₹2,050.15 on NSE. The scrip has risen 24.17% since the start of 2021 (year-to-date period)

Ajanta Pharma is a specialty pharma company engaged in development, manufacturing and marketing of quality finished dosages. It produces a comprehensive range of specialty products targeting different therapeutic segments for treatment of patients, customised to each market it is present in. The business includes branded generics in emerging markets of Asia and Africa, generics in the developed markets of USA and institution sales.

HP Adhesives shares are expected to list on BSE and NSE today. Indian shares fell on Monday as a global surge in Omicron variant cases weighed on investor sentiment, with RBL Bank shedding 10% after its top executive stepped down and the central bank appointed an executive to its board.

RBL Bank shares slump

Shares of RBL Bank plunged 10% to ₹155 apiece on the BSE in Monday’s opening deals after a slew of concerning developments over the weekend. RBL Bank’s Vishawvir Ahuja has stepped down as MD & CEO, and the bank has appointed Rajeev Ahuja as as the interim Managing Director and Chief Executive Officer.

HP Adhesives IPO share listing today. Experts predict ‘handsome’ premium

HP Adhesives IPO listing price expected in the grey market is ₹359 — around 30 per cent higher from its upper price band of ₹274 per equity share. Photo: Courtesy HP Adhesives LImited website

HP Adhesives Limited shares may have a handsome debut and it may list in the range of ₹310 to ₹350 per share levels, believe stock market experts.

HP Adhesives IPO listing: Shares of HP Adhesives Limited are going to hit Indian stock market today. As per the information available at the BSE website, the equity shares of HP Adhesives Limited shall be listed and admitted to dealings on BSE and NSE in the list of ‘T’ Group of Securities in a special pre-open session. The scrip will be in Trade-for-Trade segment for 10 trading days. As per the stock market experts, HP Adhesives Limited shares may have a handsome debut and it may list in the range of ₹310 to ₹350 per share levels.

“As expected, HP Adhesive got heavily subscribed especially in retail category due to its tiny issue size. On the valuation front, it seems to be expensive based on its 6MFY22 performance. HP Adhesives IPO listing should be positive and it may list at handsome premium over 20-25 per cent premium, mostly due to its offer size being tiny.”

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