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The SME IPO of Eleganz Interiors will open for subscription today. The issue, which is completely a fresh equity sale of 60.05 lakh shares, will be available for bidding till February 11. The company plans to raise around Rs 78 crore through its IPO.The company plans to use the net proceeds from the IPO to be used for repayment of debt, working capital requirements and general corporate purposes.Check Eleganz Interiors IPO price bandEleganz Interiors has priced its IPO in the range of Rs 123-130 per share, where investors can bid for 1,000 shares in one lot. About 20% is reserved for institutional investors, 40% for retail investors and the rest 40% for non-institutional investors.Eleganz Interiors GMP on Day 1Eleganz Interiors is boasting a GMP of around Rs 35 in the grey market, indicating a premium of 27% over the issue price.Eleganz Interiors GMP IPO detailsThe company is engaged in the business of providing interior fit-out solutions, dedicated towards crafting corporate and commercial spaces which includes corporate offices, research and development facilities, laboratories, amongst others.Its services are focussed towards creating captivating and functional spaces on a pan India level. The company elevates the aesthetic and functional aspects of workspaces by delivering interior fit-out solutions. The company's solutions range from bare shell to fully furnished commercial spaces.The interior fit-out services segment within the construction space refers to the final stage of development, where the internal spaces of buildings are customized and equipped according to the client’s requirements.Check allotment and listing date of Eleganz Interiors IPOEleganz Interiors is likely to finalise the share allotment process for the IPO on February 12 and the listing date is scheduled for February 14.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Benchmark indices Sensex and Nifty slid for the second consecutive day on Thursday amid caution ahead of the RBI's monetary policy decision and fresh foreign fund outflows.Stocks that were in focus include names like LIC, which fell 1.6% and M&M, which declined 0.8% and Grasim, whose shares rose 0.44% on Tuesday.Here's what Kushal Gandhi, Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.LICLICI's share price is currently experiencing a downtrend and has entered stage 4 of the stock cycle. This phase is characterized by a shift from the factors that previously supported the stock's price during the topping phase to the fatigue and pressures brought on by anxious sellers.On the charts, this is evident as the price oscillates within a neutral trading range of 1175-890 before ultimately breaking below its support zone. The ongoing pattern of lower highs and lower lows has contributed to a significant decline in its relative strength compared to the Nifty50 benchmark.Currently, the price is trading below the 50-week moving average as well as the 50-day moving average, coupled with a negative crossover that signals weakness in the broader trend. Furthermore, the RSI across daily and higher timeframes is showing a negative slope below the median levels, with no divergence against the price—indicating a lack of price momentum and absent sector strength at this time. Therefore, we advise against purchasing the stock.M&MThe share price of M&M appears to be forming an ascending triangle, with a ceiling near 3250 that has restricted upward movement. A significant continuation in price is expected upon a breakout from this pattern. On the lower end, the stock has a demand zone between 2835 and 2745, with 200 DMA located nearby as well.Consequently, the price action does not provide a clear directional bias for the intermediate trend. Additionally, the stock exhibits a relatively higher beta, which contributes to the increased volatility typically associated with market bottoms, complicating the maintenance of a favorable risk-reward profile.Conversely, navigating the market becomes significantly easier when volatility subsides and trends become more established. Therefore, we recommend steering clear of M&M and instead suggest remaining invested in alternatives such as Maruti and TVS Motors within the auto sector.GrasimThe share price of Grasim has been under pressure from profit booking after reaching a peak of 2877, experiencing a correction of nearly 20%, followed by a mild recovery in recent trading sessions. The stock appears to be undergoing a minor accumulation phase, with upside potential currently capped at 50 DMA, which serves as overhead resistance while trading around 2507.Nevertheless, the price action is finding immediate support near its shorter-term moving averages, which are gradually showing a positive crossover—an indication that the intermediate trend is turning favorable.As the price action enters an early upswing, there are signs of improving momentum, presenting a favorable risk-to-reward ratio for entering a long position. Therefore, we recommend purchasing GRASIM with a target price of 2696 and a stop loss set at 2407.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)