Lupin share price rose more than 8 percent intraday

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Investors around the world digested the U.S. midterm elections results and looked ahead to US CPI data. Any uptick in US inflation numbers would fuel concerns of further rate hikes by the US Fed. Back home in India all the sectoral indices on the NSE ended in the red.

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News you could use

? FSN e-Commerce Ventures stock price jumped on bonus issue 
The company had announced a 5:1 bonus issue that received shareholders’ approval earlier this month. It also decreased the share price of Nykaa to a sixth of previous price. Thus, every shareholder will get five shares of Nykaa for every one share they hold. The stock adjusted for the bonus issue from today.

? Lupin share price rose more than 8 percent intraday
The company reported its earnings and turned profitable for the quarter ended September 2022. Research firm Macquarie has kept outperform rating on the stock. Brokerage house Nomura has kept buy rating on the stock.

? Axis Bank down 3% as non-retail investors bid for government stake
Non-retail investors started bidding in the government’s offer-for-sale (OFS) of 1.55 percent stake in the private lender. The category has mopped up bids for 16 lakh equity shares against issue size of 4.18 crore shares.

News from the IPO world?

• Archean Chemical Industries IPO subscribed 30% on Day 1
• Kaynes Technology India IPO subscribed 23%
• Bikaji Foods IPO subscribed nearly 27 times

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