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Meta Infotech debuted strongly on the BSE SME platform, listing at Rs 225, a 39.75% premium over its IPO price. The Rs 80.18 crore public issue was heavily oversubscribed, particularly by HNIs. Proceeds will be used for debt repayment, a new Mumbai office, and general corporate purposes, following a year of significant revenue and profit growth.
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News and Media
Alok Agarwal highlights a divergence in market growth, where Nifty 500 firms grew by 11% last quarter, while Nifty 50 companies only saw 3.5% growth. Index heavyweights like oil, FMCG, banking, and tech are lagging, while sectors like electronics, real estate, and building materials are performing well but are underrepresented in major indices.
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In the NSE list of stocks with a market cap over Rs 5000 crore, nine stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on July 10, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
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