The equity benchmark indices further extended gains and attained record high levels in early afternoon trade. The Nifty hit a record high of 15,946.65 and the Sensex hit a record high of 53,253.20 in early afternoon trade. IT, banks and financial stocks were in demand.
At 12:20 IST, the barometer index, the S&P BSE Sensex, jumped 335.29 points or 0.63% at 53,239.34. The Nifty 50 index gained 89.25 points or 0.56% at 15,943.20.
In the broader market, the S&P BSE Mid-Cap index added 0.30% while the S&P BSE Small-Cap index rose 0.47%.
The market breadth was positive. On the BSE, 1,692 shares rose and 1,382 shares fell. A total of 124 shares were unchanged.
Zomato IPO:
The initial public offer of online food delivery platform Zomato was subscribed 1.26 times by 12:40 IST. The issue received bids for 90,71,61,255 shares compared with 71,92,33,522 shares on offer. The IPO opened for bidding today (14 July) and it will close on Friday (16 July). The price band of the IPO is fixed at Rs 72-76 per share of the face value of Rs 1 each.
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The IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor, Info Edge (India).
Ahead of the IPO, the online food delivery and restaurant discovery platform raised Rs 4,197 crore from 186 anchor investors Tuesday (13 July). The company allotted 55.22 crore equity shares to anchor investors for Rs 76 per equity share.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 18,83,61,244 with 40,58,122 deaths. India reported 4,32,041 active cases of COVID-19 infection and 4,11,989 deaths while 3,01,43,850 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India has reported 41,806 new COVID-19 cases, 39,130 recoveries and 581 deaths in the last 24 hours, the bulletin released by the Union health ministry on Thursday stated. Active caseload stands at 4,32,041 and the virus death toll at 4,11,989 at present.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, advanced 2.36% to 12.8875. The Nifty 29 July 2021 futures were trading at 15,946, at a premium of 2.80 points as compared with the spot at 15,943.20.
The Nifty option chain for 29 July 2021 expiry showed maximum Call OI of 27.50 lakh contracts at the 16,000 strike price. Maximum Put OI of 32.50 lakh contracts was seen at 15,000 strike price.
Buzzing Index:
The Nifty Financial Services index was up 0.77% to 16,952.50. HDFC Asset Management Company (up 2.80%), REC (up 2.70%), Power Finance Corporation (PFC) (up 2.58%), Shriram Transport Finance Company (up 1.77%) and HDFC Bank (up 1.63%) advanced.
Stocks in Spotlight:
SeQuent Scientific spurted 6.22% after the animal-based pharmaceutical major announced the European Union Good Manufacturing Practices (EUGMP) approval of its tablets dosage manufacturing line in Turkey. The approval was further complimented by the successful renewal of EUGMP license for 8 other manufacturing lines for various dosage forms including beta-lactam, non-beta lactam, terminal sterilization, mastitis, powder beta-lactam, aerosol, pesticide, and solids in Turkey. In addition to the EUGMP, the manufacturing lines in Turkey also hold GMP certificates from Turkish, Saudi, Ethiopian and Sudanese authorities. With these approvals, Alivira now has multiple EUGMP approved facilities globally, allowing it to better serve the needs of its customers in the regulated markets of Europe, and access to alternative manufacturing sites to ensure supply of high-quality products.
Marico gained 0.15%. The company announced a strategic investment in Apcos Naturals with an acquisition of 60% equity stake for an undisclosed consideration. Marico will acquire 52.4% of the total paid-up share capital by 31 July 2021 and accordingly Apcos Naturals shall become a subsidiary of the company. The company will acquire the balance stake of 7.6% by 31 March 2023 as per the conditions set out in the shareholders agreement signed between the parties. Apcos Naturals is into beauty & personal care segment under the brand name Just Herbs and is a full stack Direct to Consumer Ayurvedic beauty brand. The firm recorded a turnover of Rs 17.5 crore in FY2020-21.
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