At 13:30 IST, the barometer index, the S&P BSE Sensex, jumped 439.01 points or 0.77% at 57,859.25. The Nifty 50 index gained 133.5 points or 0.78% at 17,219.75.
The broader market outperformed the main indices. The S&P BSE Mid-Cap index added 1% while the S&P BSE Small-Cap index rallied 1.4%.
The market breadth was strong. On the BSE, 2,592 shares rose and 724 shares fell. A total of 106 shares were unchanged.
Gainers & Losers:
Asian Paints (up 2.46%), UltraTech Cement (up 2.1%), NTPC (up 1.89%), Coal India (up 1.78%), Titan Company (up 1.76%), Larsen & Toubro (up 1.76%) and Mahindra & Mahindra (up 1.62%) were top gainers in Nifty 50 index.
Power Grid Corporation of India (down 0.9%), Dr. Reddy's Laboratories (down 0.33%) and IndusInd Bank (down 0.3%) were top losers in Nifty 50 index.
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New Listing:
Shares of Supriya Lifescience were currently trading at Rs 404.70 on the BSE, a premium of 47.7% as against the issue price of Rs 274.
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 385. Over 11.67 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.
Stocks in Spotlight:
Ajanta Pharma jumped 3.93% after the company's board approved share buyback worth up to Rs 285.60 crore at price of Rs 2550 per share. The board of directors of Ajanta Pharma has approved a buyback of up to 11,20,000 fully paid-up equity shares of the company at a price of Rs 2,550 per equity share payable in cash. The record date for the same has been fixed as 14 January 2022.
Siemens India rose 2.09%. 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.
BSE added 5.66% after 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.
Som Distilleries jumped 5.46%. 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.
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