The Sensex hit a record high of 52,516.76 while the Nifty 50 hit an all time high of 15,431.75 in early trade.
In broader market, the S&P BSE Mid-Cap index was up 0.65% while the S&P BSE Small-Cap index rose 0.64%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1442 shares rose and 1095 shares fell. A total of 121 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 109,142,162 with 2,407,607 deaths. India reported 136,872 active cases of COVID-19 infection and 155,813 deaths while 106,33,025 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Economy:
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India's exports grew by 6.16% to $27.45 billion in January, according to data by the commerce ministry. Imports too grew by 2% to about $42 billion, leaving a trade deficit of $14.54 billion during the month under review, the data showed.
Primary Market:
The initial public offer (IPO) of Nureca received bids for 84.32 lakh shares as against 14.01 lakh shares on offer on Tuesday (16 February 2021), according to the stock exchange data at 10:10 IST. The issue was subscribed 6.02 times. The issue opened for bidding on Monday, 15 February 2021, and it will close on Wednesday, 17 February 2021. The price band for the IPO is set at Rs 396-400 per share. An investor can bid for a minimum lot of 35 equity shares and in multiples thereof. The IPO comprises of public issue of equity shares aggregating to Rs 100 crore (including anchor portion of 11,13,750 equity shares). The net proceeds of the fresh issue are proposed to be utilized towards funding incremental working capital requirements of the company and general corporate purposes. Shares of Nureca will list on 26 February 2021 on bourses.
New Listing:
Brookfield India Real Estate Trust REIT were trading at Rs 262.65 at 10:27 IST on the BSE, at a discount of 4.49% over IPO price of Rs 275 per unit. The stock was listed at Rs 275.05, at a premium of 0.02% to IPO price. So far, the stock hit a high of Rs 280.05 and low of Rs 258.35. On the BSE, 2.44 lakh units were traded on the counter so far. The initial public offer (IPO) of Brookfield India Real Estate Trust received bids for 60.59 crore units as against 7.62 crore units on offer, as per the National Stock Exchange of India (NSE) website data. The issue was subscribed 7.94 times.
Results Today:
Nestle India (down 0.73%) will announce its quarterly result today.
Varun Beverages (up 0.31%), Schaeffler India (up 1.04%) and R Systems International (up 2.2%) are some of the other companies that will announce their quarterly results today.
Buzzing Index:
The Nifty Metal index jumped 2.98% to 3,573.20, snapping its two day losing streak. The metal index saw bargain hunting after slipping 2% in two trading sessions.
Jindal Steel & Power (up 5.56%), Steel Authority of India (up 5.51%), Tata Steel (up 4.03%), Hindalco Industries (up 3.77%), Vedanta (up 3.59%), NMDC (up 3.45%), Hindustan Zinc (up 3.16%), JSW Steel (up 2.93%), National Aluminium Company (up 1.96%) and Coal India (up 1.63%) were top gainers in metal space.
Stocks in Spotlight:
Tech Mahindra rose 1.02% after the IT company on Monday announced a strategic partnership with Telefica Germany / O2 to drive their end-to-end IT transformation. Through this digital transformation, Tech Mahindra will support Telefica Germany / O2 to deliver faster product launches and provide a more 'human centered' experience to its customers in the mass market segment.
SIS rallied 4.55% after the company said its board approved a proposal to buyback equity shares worth upto Rs 100 crore at Rs 550 each. The aggregate consideration of the buyback will not exceed Rs 99,99,99,550. The resultant equity shares to be bought back at the buyback offer price are 18,18,181 equity shares, representing 1.24% of the total number of equity shares in the total paid-up equity capital of the company as on 31 March 2020.
Mazagon Dock Shipbuilders (MDL) rose 2.12% after the company said it delivered the third Scorpene submarine of Project P-75 to the Indian Navy on 15 February 2021. The submarine would subsequently be commissioned into Indian Navy as INS Karanj, the company said in a BSE filing made after market hours on Monday.
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