Akums Drugs IPO Allotment: Akums Drugs and Pharmaceuticals IPO closed its subscription to investors on August 01. Akums Drus is a pharmaceutical contract development and manufacturing organisation that makes a range of pharma products. Some of its other services include formulation of research and development (“R&D”). Akums Drugs is also engaged in the manufacturing and sale of branded pharmaceutical formulations and active pharmaceutical ingredients (“APIs”). The IPO of the company was opened for bidding on July 31. Here’s how you can check the shares allotment status:

Step 1

Go to the website of the registrar handling the issue. In Akums Drugs and Pharmaceuticals’ IPO, Link Intime India is the registrar. 

Step 2

Click on the public issue section on the left side of the webpage. 

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The Indian equity indices on Monday continued Friday’s negative spell on the back of geopolitical tension coming out of West Asia. Sensex dipped 845 points or 1.14% to close the day’s trading at 73,399.78. The Nifty 50 closed 246.90 points or 1.10% lower at 22,272.50. The losers included Shriram Finance, Bajaj Finserv, Wipro, ICICI Bank, and Larsen & Toubro. The Indian Volatility Index (India VIX) closed 8.07% higher. 

Nifty Bank closed the session 791 points lower at 47,773.25. The Nifty Midcap 100 lost 786.55 points or 1.57% to settle at 49,281. 

On the sectoral front, banks and tech stocks dragged the indices lower but oil & gas gained in the weak market. In the broader indices, smallcap and midcap stocks closed in the red. 

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By Nagaraj Shetti

Technical Observation: NIFTY

After showing a sharp downside breakout on Tuesday, Nifty shifted into a consolidation movement amidst volatility on Wednesday and closed the day higher by 21 points. A small body candle was formed on the daily chart with upper and lower shadow. Technically, this pattern indicates the formation of doji type candle pattern. Normally, a doji after a reasonable upmove or down moves calls for impending trend reversals. Having formed a doji after a minor downtrend, the chance of a minor pullback rally is likely. Minor degree positive chart patterns like higher tops and bottoms have been negated recently as per the daily chart. Hence, any upside bounce from here is expected to be a lower top formation in the short term.

Conclusion:

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Equity markets will be closed on Wednesday in observance of Maharashtra Day. This closure extends to all segments, including equity, derivative, and SLB segments.

The Multi-Commodity Exchange will also be closed for the first half of the day but will resume operations for the evening session starting from 5:00 pm. However, trade settlements will not be conducted on Wednesday.

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