Krishna Institute of Medical Sciences Limited (KIMS) which had tapped the capital markets with its fresh issue for Rs 200 crs and an offer for sale of 2,35,60,538 shares in a price band of Rs 815-825, listed and gained 20.72%.

Earlier the company had allotted 1,15,84,060 equity shares at Rs 825 to 30 anchor investors comprising of 43 entities. A similar allotment of 9,65,466 equity shares or 8.33% was made to 3 anchor investors comprising of Nomura, HDFC and Axis Mutual Fund. The top three anchor investors have been allotted 25% of the anchor portion.

The QIB portion was subscribed 5.35 times, HNI portion was subscribed 1.89 times, Retail portion was subscribed 2.90 times and Employee portion was subscribed 1.06 times. There were 3.19 lac applications and on the basis of lots the retail portion was subscribed 2.23 times. Overall, the issue was subscribed 3.86 times. The issue had opened on Wednesday the 16th of June and closed on Friday the 18th of June.

The discovered price on BSE was Rs 1,008.90 at which price, 31,326 shares were traded. On NSE the discovered price was Rs 1,009 at which price, 18,65,788 shares were traded.

The high on BSE was Rs 1,057.95, low was Rs 950 and the close was Rs 995.90. The gain was Rs 170.90 or 20.72%. On NSE, the high was Rs 1,059, low was Rs 950 and the close was Rs 996.95, a gain of Rs 171.95 or 20.84%

The combined traded volume was 140.05 lac shares which was 0.54 times the IPO size of 259.97 lac shares. It was 0.97 times the non-anchor portion size of 144.13 lac shares. Delivery volume was 69.86 lac shares which was 49.89% of the traded volume. It was 26.87% of the IPO size and 48.47% of the non-anchor portion. The weighted average of the day’s trade was Rs 994.56 on BSE and Rs 995.80 on NSE.

In terms of institutional trades there were two reported on the NSE with one buy and one sell trade. There was also an HNI sell trade reported on NSE as well. These were, buy trade of Nomura India who bought 12.89 lac shares at Rs 992.30. Sell trade by Société General who sold 4.42 lac shares at Rs 981.41. The HNI sell trade was by Ashish Kacholia who sold 4.23 lac shares at Rs 959.59. Overall, while 12.89 lac shares were bought, 8.65 lac shares were sold.

KIMS has done well for itself on listing day and it needs to be seen how it fares going forward.

Dodla Dairy Limited which had tapped the capital markets with its fresh issue for Rs 50 crs and an offer for sale of 1,09,85,444 shares in a price band of Rs 421-428 listed on the bourses and had a great debut gaining 42.31%.

The issue had opened on Wednesday the 16th of June and closed on Friday the 18th of June. The issue would raise Rs 520 cr at the top end of the band.

Earlier the company had allotted 36,46,099 equity shares to 10 anchor investors comprising of 18 entities. The highest allocation had been made equally to 4 anchor investors of 16.66%. These four entities comprising of DSP Small Cap Fund, Aditya Birla Sun Life, SBI Mutual Fund and Ashoka India Fund. These four entities have been allotted 6,07,460 shares each. The total allotment to these four entities is 24,29,840 shares constituting 66.64%.

The issue saw QIB portion get subscribed 84.88 times, HNI portion was subscribed 73.26 times and Retail portion was subscribed 11.34 times. There were 11.76 lac applications and on basis of lots, Retail portion was subscribed 9.68 times. Overall, the issue was subscribed 45.62 times.

The discovered price on BSE was Rs 528 at which price, 89,668 shares were traded. On NSE the discovered price was Rs 550 at which price, 23,77,396 shares were traded.

The high on BSE was Rs 633.60, low was Rs 528 and the close was Rs 609.10. The gain was Rs 181.10 or 42.31%. On NSE, the high was Rs 652, low was Rs 550 and the close was Rs 609.90, a gain of Rs 181.90 or 42.50%

The combined traded volume was 267.99 lac shares which was 2.21 times the IPO size of 121.53 lac shares. It was 3.15 times the non-anchor portion size of 85.07 lac shares. Delivery volume was 80.81 lac shares which was 30.16% of the traded volume. It was 66.49% of the IPO size and a massive 94.99% of the non-anchor portion. The weighted average of the day’s trade was Rs 603.41 on BSE and Rs 596.32 on NSE.

In terms of institutional trade there were none reported on either the buy side or the sell side. There were however a huge number of day traders whose trades were reported and they were by and large squared off.

The share has performed much better than expected and has certainly beaten the street’s expectations. In terms of valuations, the share is more than adequately priced at the current levels. While the newness of the stock could be a factor for a couple of days, one should expect the stock to consolidate and try and digest the listing day gains going forward before any meaningful movement happens.

Markets were on a roll last week and set the tone of revival on the very first day of trading for the week. The tone of the markets when they closed in the previous week indicated weakness and consolidation. They began with a sharp downside and then recovered throughout the day and in the process manged not only gains for the day but also changing the sentiment for trading in the week ahead. BSESENSEX gained 580.59 points or 1.11% to close at 52,925.04 points, while NIFTY gained 177 points or 1.13% to close at 15,683.35 points. The broader markets saw BSE100, BSE200 and BSE500 gain 1.06%, 1.10% and 1.15% respectively. BSEMIDCAP gained 1.40% while BSESMALLCAP was up 1.41%. Markets gained on four of the five trading days.

Dow Jones reversed all the losses suffered in the previous week and gained 1,143.76 points or 3.44% to close at 34,433.84 points. The Indian Rupee was under pressure and lost 34 paisa or 0.46% to close at Rs 74.20 to the US Dollar.

Monday saw the markets open with a downside gap and BSESENSEX opened at 51,887 points against the previous closing of 52,344 points. The fall was 457 points. It made a low of 51,740 points and a high of 52,629 points before closing at 52,574 points. The gain was 230 points on a net basis and the intra-day movement was 889 points. On NIFTY. The open was 15,525 points against the previous days close of 15,683 points. The low was 15,505 points, the high was 15,765 points and the close was 15,746 points. The intraday movement was 260 points while the net change was 63 points. The movement on the benchmark indices on Monday and sharp recovery in Dow Jones changed the market direction.

BSESENSEX closed at lifetime high on Friday of 52,925.04 points and an intra-day lifetime high of 53,057.1 points made on Tuesday the 22nd June. NIFTY lifetime high and closing high were both made on 15th of June and the values were 15,901.60 points and 15,869.3 points.

June futures expired on Thursday the 24th of June with a series gain of 452.60 points or 2.95% at 15,790.45 points. Markets were quite positive on expiry day and the bulls accelerated and pushed the bears further to gain 104 points.

Heineken has bought 396.44 lac shares in UB from the DRT (Debt Recovery Tribunal) at a cost of Rs 5,850 crs. The proceeds would help SBI recover a significant part of its dues from fugitive Vijay Mallya.

PharmEasy has acquired 66.1% stake which was owned by the founder Velumani at a cost of Rs 4,546 crs in Thyrocare at a price of Rs 1,300 per share. This is the first acquisition by a Unicorn in a listed entity. Share price of Thyrocare during the week gained Rs 160.40 or 12.40% to close at Rs 1,448.05 on Friday. Incidentally, Velumani has invested a third of the proceeds received by him from the stake sale or Rs 1,500 crs to acquire 5% in PharmEasy, valuing this company at Rs 30,000 crs.

The primary issue from India Pesticides Limited which had tapped the capital markets with its primary issue of Rs 100 crs and an offer for sale of Rs 700 crs in a price band of Rs 290-296 was subscribed 29.64 times. The QIB portion was subscribed 43.84 times, HNI portion 52.95 times and Retail portion was subscribed 11.54 times. There were 16.59 lac applications.

Shares of Shyam Metalics & Energy Limited listed on the bourses on Thursday and gained 27.12% during the two days of the week that they traded. The share closed at Rs 389 against the issue price of Rs 306.

Similarly shares of Sona BLW Precision Forgings Limited listed as well and closed at Rs 364.85, a gain of 25.38% against its issue price of Rs 291.

On the covid-19 front, the world saw 18,18,61,268 patients, 39,38,817 deaths and 16,63,73,962 patients who had recovered. In India we saw 3,02,78,963 patients, 3,96,761 deaths and 2,93,02,260 patients recovering. Compared to the previous week the world saw 26,19,923 new patients, 57,262 deaths and 25,78,098 patients recovering. In India we saw 3,44,602 new patients, 8,647 deaths and 4,65,731 patients recovering. Certainly, things are looking better on the covid-19 front in India and one hopes with the rate of vaccination per day increasing significantly, we should be prepared to fight the third wave if and when it does come.

Coming to the markets, the new July series has begun which consists of five weeks and would see results for the first quarter of April-June being declared. Typically, in such a period, one does not see wild movements in the benchmark indices. Expect the action to now shift back to the large cap stocks from the midcap and Smallcap stocks which we have seen over the last couple of months. It makes sense to move away from the lower category of stocks and move to safety in the larger ones. This would have two advantages, with the first being significantly higher liquidity and the second chances of getting caught on the wrong side of market movement being reduced. Expect volatility to continue and markets still attempting to making new high.