The merger of HDFC and HDFC Bank, which was finalized on July 1, is the largest transaction deal in India’s corporate history. According to market capitalization, the combined company is now the fourth-largest bank in the world. The combined company is worth around $172 billion.
The allotment date for ideaForge’s initial public offering has been set for July 5. On Friday, July 7, the company’s shares will be credited into the Demat accounts of winning bidders.
Stock Market Today
On June 30, the initial public offering (IPO) of ideaForge, a drone manufacturer based in Mumbai, was completed with a subscription of more than 106 times the shares offered, with interest from all types of investors.
With 1,991 companies up and 1,615 down, the BSE 500 universe is looking robust, with an advance-decline ratio of 6:5. The overall number of deposits at Federal Bank increased by 21% YoY in Q1FY24, along with stock gains.
- HDFC-Bank merger, largest in history, worth $172 billion.
- IdeaForge’s IPO was completed with a 106-fold subscription, garnering investor interest.
- Nifty reaches all-time high; Tata Motors shares reach 52-week high.
In a bullish market, the Nifty reached an all-time high, and Tata Motors shares reached a 52-week high. On the BSE, Tata Motors shares increased by as much as Rs 7 or 1.2% to Rs 602.5 per share, surpassing its previous 52-week high of Rs 599 set last week.
purchase SBI’s Rs. 590 call option at Rs. 9.75 for a target of Rs. 17 with a stop loss at Rs. 7.5, and purchase IGL‘s Rs. 490 call option at Rs. 13-13.5 for a target of Rs. 23 with a stop loss at Rs.10.
