 "Jio Financial recovers losses; EMS sets price band at Rs 200-211 for IPO")
Benchmark equity indices — the Sensex and the Nifty50 — rallied for the second straight session on Monday following encouraging domestic macroeconomic data amid a firm trend in global markets.
Fresh foreign fund inflows and intense buying in IT and commodity stocks also bolstered sentiment, traders said.
The BSE benchmark Sensex climbed 240.98 points or 0.37 per cent to settle at 65,628.14. During the day, it jumped 296.75 points or 0.45 per cent to 65,683.91. The Nifty rose 93.50 points or 0.48 per cent to end at 19,528.80.
“Recent domestic macroeconomic data has portrayed a positive picture for the domestic markets, allowing them to maintain their momentum. Despite profit-booking in Nifty Auto after reaching an all-time high, the market regained its footing with robust buying in IT stocks,” Vinod Nair, head of research, Geojit Financial Services said.
Jio Financial recovers losses since listing
Jio Financial recovers losses since listing
Shares of Jio Financial Services on Monday rose for the fifth consecutive day and recouped all the losses made post its listing on August 22.
Also Read
After hitting a high of Rs 267, the stock ended at Rs 255, up 3.9 per cent on the NSE. From its low, the stock has jumped more than 25 per cent. The latest increase comes after exchanges revised the trading limit of the stock from 5 per cent to 20 per cent. Further, they have removed Jio Financial from the trade-to-trade segment, which allows trades to build intraday positions in the stock. Last week, the stock was removed from the Sensex. If the stock doesn’t hit its trading limits on Tuesday, it will be removed from the benchmark Nifty as well.
EMS sets price band at Rs 200-211 for IPO
Water and sewerage infra player EMS Ltd on Monday said it has fixed a price band of Rs 200-211 apiece for its Rs 321-crore initial public offering (IPO).
The issue will open for public subscription during September 8-12 and the bidding for anchor investors will open on September 7, the company said in a statement.
The IPO comprises fresh issue of equity shares worth Rs 146.24 crore and an offer for sale (OFS) of 82.94 lakh shares by promoter and founder Ramveer Singh. Currently, Singh holds 97.81 per cent stake in the company.
In the pre-IPO placement round, the Ghaziabad-based firm raised Rs 33.76 crore.