The domestic equity benchmarks ended with strong gains on Tuesday. The Nifty settled above the 17200 mark. Strength was broad based with autos, PSU banks, consumer durables and oil & gas stocks gaining the most.
As per provisional closing data, the barometer index, the S&P BSE Sensex, rose 477.24 points or 0.83% to 57,897.48. The Nifty 50 index gained 147 points or 0.86% to 17,233.25.
The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index added 0.95% while the S&P BSE Small-Cap index rallied 1.43%.
The market breadth was strong. On the BSE, 2,618 shares rose and 764 shares fell. A total of 96 shares were unchanged.
New Listing:
Shares of Supriya Lifescience provisionally closed at Rs 389.40 on the BSE, a premium of 42.12% as against the issue price of Rs 274.
Also Read
The scrip was listed at Rs 425, representing a premium of 55.11% to the initial public offer (IPO) price.
So far, the scrip has hit a high of Rs 425 and a low of Rs 383.15. Over 14.45 lakh shares of the company have changed hands in the counter till now.
The IPO of Supriya Lifescience was subscribed 71.51 times. The issue opened for bidding on 16 December 2021 and it closed on 20 December 2021. The price band of the IPO was fixed at Rs 265-274 per share.
Buzzing Index:
The Nifty Auto index rose 1.39% to 10,789.35, advancing for second day. The index has gained 1.59% in two sessions.
Mahindra & Mahindra (up 2.44%), Bharat Forge (up 2.18%), Tata Motors (up 1.93%), Eicher Motors (up 1.60%), TVS Motor Company (up 1.05%), Bajaj Auto (up 0.69%), Hero MotoCorp (up 0.55%), Maruti Suzuki (up 0.17%) and Ashok Leyland (up 0.16%), and advanced.
Stocks in Spotlight:
RBL Bank rose 3.80% to Rs 146.25. The bank announced the signing of the agreement with Bajaj Finance for the extension of the partnership of co-branded credit cards for a period of 5 years to December 2026.
Shyam Metalics and Energy jumped 7.97% to Rs 344.90. The company announced 20% increase in sponge iron manufacturing capacity, boosting from 1.39 MTPA to 1.67 million tonnes per annum.
Maharashtra Seamless gained 1.53% to Rs 511.20. The company has bagged Rs 150.70 crore orders from PSU companies for supply of ERW and seamless pipes.
Siemens India added 1.90% to Rs 2400.50. A joint venture between TRIL Urban Transport, a Tata Group company and Siemens Project Ventures GmbH (subsidiary of Siemens Financial Services) under Public Private Partnership Route (PPP) will develop the metro corridor from Hinjewadi to Shivajinagar. The Joint Venture has formed a special purpose company called Pune IT City Metro Rail. The order size of Siemens is around Rs 900 crore.
Som Distilleries jumped 4.47% to Rs 42.10. The company's board has approved a proposal to raise up to Rs 17.50 crore by way of rights issue of equity shares at Rs 35 each.
Sastasundar Ventures hit an upper circuit limit of 5% at Rs 467.30. As per the bulk deal data on the NSE, Ashish Kacholia acquired 2,25,000 shares, or 0.71% stake, in Sastasundar Ventures at Rs 447 per share. As on September 2021, Kacholia held 1.04% stake in the company.
Inox Wind Energy rose 1.52% to Rs 799. The company's board at its meeting held yesterday has approved raising fund of Rs 90 crore on a preferential issue basis
Ajanta Pharma advanced 3.85% to Rs 2264.25. The company's board approved share buyback worth up to Rs 285.60 crore at price of Rs 2550 per share. The record date for the same has been fixed as 14 January 2022.
BSE jumped 5.21% to Rs 1,930.70. The company said its board will consider bonus share issue on 8 February 2022. The board will also consider the unaudited financial results for the quarter and nine months ended 31 December 2021.
Global Markets:
Shares in Europe and Asia advanced on Tuesday. Markets in the U.K. and Ireland remain closed on Tuesday.
U.S. stock indexes advanced Monday as markets reopened after the Christmas holiday and investors assessed the spread of the omicron Covid-19 variant. The S&P 500 index ended at a record high.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content