As per the provisional closing data, the barometer index, the S&P BSE Sensex, fell 80.63 points or 0.13% to 60,352.82. The Nifty 50 index dropped 27.05 points or 0.15% to 18,017.20.
In the broader market, the S&P BSE Mid-Cap index lost 0.55% while the S&P BSE Small-Cap index gained 0.02%.
Buyers outnumbered sellers. On the BSE, 1,720 shares rose and 1,587 shares fell. A total of 151 shares were unchanged.
Primary Market:
The initial public offer (IPO) of One97 Communications (Paytm) received bids for over 6.63 crore shares as against 4.83 crore shares on offer on Wednesday (10 November 2021), according to stock exchange data on 15:00 IST today. The issue was subscribed 1.37 times.
One97 Communications (Paytm) is one the largest payments platform in India based on the number of consumers, number of merchants, number of transactions and revenue ended March 2021. The IPO opened for bidding on Monday, 8 November and it will close on 10 November. The price is set at Rs 2,080 to Rs 2,150. Ahead of the IPO, Paytm raised Rs 8,235 crore from anchor investors including Blackrock, CPPIB, Birla MF, GIC among other blue-chip investors. The IPO consists of a fresh issue to raise Rs 8300 crore and offer of sale (OFS) comprising Rs 10,000 crore.
The initial public offer (IPO) of Sapphire Foods India received bids for over 83.36 lakh shares as against 96.63 lakh shares on offer on Wednesday (10 November 2021), according to stock exchange data on 15:01 IST today. The issue was subscribed 86%.
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Sapphire foods is one of YUM's franchisee operators in the Indian subcontinent. The company is Sri Lanka's largest international QSR chain in terms of revenue for the financial year 2021 as also number of restaurants operated as of 31 March 2021. The IPO opened for bidding on Tuesday, 9 November 2021 and it will close on 11 November 2021. The price is set at Rs 1,120 to Rs 1,180. Ahead of the IPO, Sapphire Foods finalized allocation of allocation of 79,06,473 equity shares to anchor investors, at a price of Rs 1,180 per equity share to anchor investors, aggregating to Rs 932.96 crore.
New Listing:
Shares of FSN E-Commerce Ventures (Nykaa) were currently trading at Rs 2202 at 15:12 IST on the BSE, a premium of 95.73% as compared to the issue price of Rs 1125. The scrip was listed at Rs 2001, a premium of 77.87% to the issue price.
The initial public offer (IPO) of Nykaa was subscribed 81.78 times. The retail individual investors category was subscribed 12.24 times. The non institutional investors category was subscribed 112.02 times. The qualified institutional buyers category was subscribed 91.18 times.
The issue opened for bidding on 28 October 2021 and it closed on 1 November 2021. The price band of the IPO was fixed at Rs 1,085-1,125 per share.
Stocks in Spotlight:
Housing Development Finance Corporation (HDFC) rose 0.25%. The NBFC on Tuesday said it will raise Rs 3,000 crore by issuing secured redeemable non-convertible debentures on a private placement basis. The object of the issue is to augment the long-term resources of the corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation, HDFC said in a regulatory filing. The coupon rate of the issue has been fixed at 7.10% per annum with a redemption date of 12 November 2031.
Redington (India) surged 6.97% after the company's consolidated net profit increased by 72.7% to Rs 307.20 crore on a 11.1% rise in net sales to Rs 15,287.46 crore in Q2 FY22 over Q2 FY21. On the segmental front, India business revenue was Rs 6,841.89 crore while that from Overseas business was Rs 8,445.80 crore in the second quarter. Total expenses rose by 10.2% to Rs 14,922.59 crore in Q2 FY22 from Rs 13,545 crore in Q2 FY21.
India Cements tumbled 5.85% after the company's consolidated net profit declined 57% to Rs 29.75 crore in Q2 FY22 from Rs 69.21 crore posted in Q2 FY21. Revenue from operations rose by 13.2% to Rs 1,234.85 crore in Q2 FY22 from Rs 1,089.96 crore posted in Q2 FY21.
CreditAccess Grameen fell 3.64% after the company reported 7.9% fall in standalone net profit to Rs 71.99 crore despite 8.3% rise in total income to Rs 510.33 crore in Q2 FY22 over Q2 FY21. The microfinance institution recorded an operating profit of Rs 194.71 crore in the second quarter, up 10.5% YoY. Provisions and write-offs increased by 39.5% to Rs 91.12 crore in Q2 FY22 from Rs 65.32 crore in Q2 FY21.
Cadila Healthcare rose 0.74%. The drug company said that it has received final approval from the USFDA to market Glycopyrrolate injection, a generic version of US reference listed drug Robinul. Glycopyrrolate is used before surgery to decrease the volume of secretions from mouth, lungs and stomach. It can also be used either before or during surgery to maintain heart's normal beating rhythm. It is also used to counter the effects of some other medicines, which can slow heartbeat or produce excessive secretions when used during surgery. The drug will be manufactured at the group's injectables manufacturing facility at CHL-Jarod, near Vadodara (earlier known as Liva Pharmaceuticals).
Mishra Dhatu Nigam fell 1.89%. The company's consolidated net profit rose 4.4% to Rs 33.94 crore on a 13.7% increase in net sales to Rs 185.27 crore in Q2 FY22 over Q2 FY21. The company said it achieved a turnover of Rs 187.92 crore, registering a growth of 14.75% during the Q2 FY22 as against a turnover of Rs 163.77 crore recorded in the corresponding period of the previous year. The order book position of the company as on 1 October 2021 stood at Rs 1,369.89 crore.
Godrej Agrovet lost 2.44% after the company reported a 2.9% fall in consolidated net profit to Rs 112.2 crore despite a 24.7% rise in total income to Rs 2,159.7 crore in Q2 FY22 over Q2 FY21. EBITDA improved by 8% to Rs 196.1 crore in Q2 FY22 from Rs 181.5 crore in Q2 FY21. EBITDA margin was 9.1% in Q2 FY22 as against 10.5% in Q2 FY21. Finance costs surged to Rs 15.62 crore in the second quarter from Rs 9.60 crore in the same period last year.
Global Markets:
European markets traded mixed while Asian stocks closed on a mixed note on Wednesday, 10 November 2021. Market participants wait for the next key reading of U.S. inflation data.
China's consumer price index for October rose 1.5% from last year. The producer price index for October surged 13.5% from last year.
Wall Street closed lower on Tuesday as profit-taking and worries over ongoing inflation fueled a broad sell-off. U.S. inflation data for October is also set to be released later Wednesday stateside.
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