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The Indian market is expected to open flat-to-higher on Friday tracking muted trend seen in other Asian markets.

After a stunning rally in the global equity market over the past two days, stocks collectively took a breather ahead of the weekend. US Stocks traded range bound overnight weighed down by an abrupt halt to the rally in oil prices, which failed to hold on to the crucial $50 mark. The Dow Jones ended 23.22 points lower.

The most awaited speech since the US Federal Reserve's FOMC meeting way back in April, the Fed chief will speak at Massachusetts on Friday night as investors look on for clues to a rate hike.
STOCKS TO WATCH TODAY FOR TRADING
Power Grid: The state-run company posted a 13.2 per cent jump in standalone net profit at Rs 1,599.05 crore for the March quarter on higher revenues from power transmission business.

Jet Airways: Jet Airways posted its first annual net profit after eight years and its fourth straight quarterly net profit helped by lower fuel expenses and its own cost control measures.

ONGC: Oil and Natural Gas Corporation's fourth quarter profit jumped 12% mainly on reversal of impairment loss as well as lower provisioning for dry wells.

Deepak Fertilisers: The company reported a 5 per cent decline in net profit at Rs 25.92 crore for the fourth quarter of 2015-16 financial year.

SBI - State Bank of India is going to post Q4 results today.
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HUDCO makes strong debut; ends 21 percent premium to issue price
Updated on 19 May 2017
Shares of Housing and Urban Development Corporation (HUDCO) listed at Rs 73.45, a 22% premium against its initial public offer (IPO) price of Rs 60 on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 73.

The stock settled at Rs 72.50, a 21% premium to its issue price, and 1.3% lower against its opening price. In intraday trade, the stock rallied as much as 30% to Rs 77.80 against its IPO price.

The discount of Rs 2 per share to the issue price of Rs 60 was offered to retail and eligible employees.

The IPO of HUDCO saw huge demand from investors and was subscribed nearly 80 times. The portion reserved for qualified institutional buyers (QIBs) was subscribed 55.45 times, non-institutional investors saw a subscription of 330.36 times and retail investor's category was subscribed about 11 times.

The state-run HUDCO, which provides loans for housing and urban infrastructure projects in India, recently raised over Rs 1,120 crore as a part of its IPO, assisting the government's efforts to meet its disinvestment target.

The company enjoys strong relationship with the state governments and their agencies and finances various central and state government schemes in housing and urban infrastructure development.  In most cases these loans are subject to repayment through allocations in state government budgets or recourse to alternate sources of revenue, which reduces the recovery risk of loans to state governments and their agencies.