Wall Street closed sharply lower on Wednesday as surging consumer prices curbed investor risk appetite.
Angel One is bullish on UPL with a price target of Rs 805 per share.
The issue received bids for 9.14 crore shares as against 4.83 crore shares on offer.
31 of the 44 companies that got listed so far in the current calendar year are trading above their listing price.
Nifty PSU Bank was the top laggard with losses of 2.35%, while the Nifty Metal index tanked 1.76% and Nifty Realty index slipped 1.36%.
Investors playing for listing gain can keep a stop loss of 1950 while aggressive investors are advised to hold this stock.
The 'buy on dips' strategy of retail investors and DIIs is countered with the 'sell on rally' strategy of FIIs.
Shares of FSN E-Commerce Ventures (Nykaa) opened at Rs 2,018 on the NSE, compared to the issue price of Rs 1,125, marking a premium of 79.38%.
Housing Development Finance Corporation announced plans to raise Rs 3,000 crore by issuing secured, redeemable NCDs on a private placement basis.
Centrum is bullish on M&M Finance with a price target of Rs 210 per share.