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Route Mobile lists at 105% premium over issue price; CAMS, Chemcon, Angel Broking IPOs | Top News | 21 Sept

Headlines of the day

1. Nifty has a quiet start at 11501 today and SENSEX at 38814. It is a tempered start with marginal negative buyers. The market has started positively. On Friday the mid-cap performance was seen in green shades. They were net gainers in the last week. The nifty bank stands at 22033. Nifty finance is st 10746. Nifty FMCG opens at 20251 today. IT took a breather on Friday and is back with some more consolidation come by. The nifty bank has a flat start. Nifty FMCG has a tempered start. Colgate has indicated a smart move, and it stands at 1371. Colgate has witnessed a large volume in terms of the toothpaste and toothbrush. Sun Pharma opens at 525. HCL Tech is at 832. Colgate starts off flat, and TCS starts in the positive.

2. HCL Tech acquires Australian technology company DWS. Speaking to ET NOW, Swapan Johri, Corporate Vice President, Asia Pacific & Middle East, HCL Technologies sees the acquisition unlocking a lot of great opportunities for the company, enhance capabilities and customer acquisitions. Synergy value of working with DWS is very high, says the management who sees huge tailwinds for the technology sector in the post-COVID world. He expects the growth rate of the digital services business to remain robust going ahead and expects to capture a higher market share in the same.

3. The heavy action by Route mobile with the bumper listening, after Happiest Minds' last week 735 is where Route mobile has actually listed at. The new listening has a 107 per cent premium. Route Mobile is on the expected lines. There is frenzy in the IPO market and these pertain to small in terms of size and high in terms of interest. A spike as big as this is something not expected.
When Route mobile raised capital, went to the IPO market when they got listed. There is a scarcity premium that exists in India. The more digital platform and digital technology are being used. In terms of the scarcity premium, it can also be a driving factor.

4. The three IPOs that are set to open this coming week will see the IPOs opening for subscription to raise. The IPOs will raise a total of Rs. 3,160 crores and it is reportedly stated that portion of which has already been collected from anchor investors. Computer Age Management Service IPO is a particular infrastructure developer. CAMS is a technology-driven financial infrastructure and service provider. It is India's largest registrar and transfer agent as far as mutual funds are concerned. The offers for Chemcon Specialty Chemicals and CAMS will open on Monday while that of Angel Booking will be opened on Tuesday.

5. The ruckus that was witnessed in the parliament on Sunday and the farm bills have finally been passed. There were all kinds of chaos when it came to the stormy activities where Rajnath Singh called it 'saddening, unfortunate and shameful'. He further added that there was no excuse for the opposition to be violent and attacking the Deputy Chairman and that has never happened in the history of the parliament. Addressing the need for decorum and that farmers are being misled by the opposition and the support by the government will continue. It is being called a watershed moment. Protests by farmers were witnessed during the entire. The farm bill was something that the government was determined to push through. Rajnath Singh also stated that the farm bills that were passed will prove to be historic for the farmers.