Anand Rathi continues to expect strong replacement demand for higher-tonnage and multi-axle vehicles to kick in by H2 FY22.
The issue looks expensively priced but being a niche company and frenzy for startup IPOs, it may accelerate in short term due to first-mover advantage
Ahead of the IPO, shares of Glenmark Life Sciences were trading at Rs 855 per share marking a premium of Rs 135 or 18.75% at the upper price band
With regards to the Nifty Bank index, 34,500 would be intermediate support and a breach of the same could result in further underperformance
PNB Housing Finance has advanced to Rs 880.65 on June 7 from Rs 437.70 on May 28