Stock Market Action – India Pesticides listing; IPO launches, PNB Housing-Carlyle case, AB Fashion rights issue, Apcotex AGM and much more – TOP TIGGERS over next week

Though, the US Markets will remain closed on Monday on account of its Independence Day, markets will not be short of action in India. The stocks of India Pesticides Limited IPO (Initial Public Offering) will be listed on 5 July 2021. The rights issue of Aditya Birla Fashion and Retail will also open on Monday with a final price at Rs 27.50 per share.

Also, the Securities and Appellate Tribunal will be hearing a case related to the PNB Housing and Carlyle deal.

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On Tuesday, Coforge Limited will be holding a board meeting to raise money. Tuesday is also the last day to send suggestions and feedback on amendments in the Consumer Protection Act 2019 for the ecommerce sector.

The minutes of the FOMC (Federal Open Market Committee Meeting) will be released on Tuesday.

On 7 July, the Initial Public Offering (IPO) of Clean Science and Technology will be launched. The price band of the share is between Rs 880-Rs 900. IPO of GR Infraprojects will also be launched on the same day. The price bank is between Rs 828 and Rs 837.

On 9 July, there will be an Annual General Meeting (AGM) of Apcotex Industries Limited. Meanwhile, the public issues of Clean Science and GR Infra will also close on this day which is a Friday.

All these triggers will be key indicators for the stock markets next week.

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Stock Markets – Week that Went:

The stock markets traded with weakness for the first four trading session of the weak. However, on Friday, the last trading day of the week, they gained some momentum. They traded in a range for most part of Friday but gathered pace over the last one hour or so, Zee Business Managing Editor Anil Singhvi said.

He said that one must not see the action from the standpoint of indices. There was a lot of action beyond the indices – in the mid cap and small cap stocks. This is an indication that the broader markets saw buying activity coming back. The US markets played a significant role in this recovery, he said.

Foreign Institutional Investors (FIIs) were on a selling spree on Friday selling India equities worth Rs 983 cr while the Domestic Institutional Investors (DIIs) bought Indian stocks worth Rs 930 cr.