The benchmark indices continued to trade with decent gains in morning trade. The Nifty was trading around the 15,750 mark. Metal stocks outperformed, followed by IT, realty and bank shares.
At 10:29 IST, the barometer index, the S&P BSE Sensex, was up 154.56 points or 0.29% to 52,598.27. The Nifty 50 index added 40.85 points or 0.26% to 15,750.25.
In the broader market, the S&P BSE Mid-Cap index gained 0.28% while the S&P BSE Small-Cap index rose 0.70%.
The market breadth was strong. On the BSE, 1955 shares rose and 934 shares fell. A total of 123 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 195,924,801 with 4,186,739 global deaths.
India reported 403,840 active cases of COVID-19 infection and 422,662 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
New Listing:
Shares of Tatva Chintan Pharma Chem were currently trading at Rs 2334.90 per share, at a premium of 115.6% compared with the issue price of Rs 1083 per share. The scrip was listed at a price of Rs 2,111.80 per share, at a premium of 95% to the initial public offer (IPO) price.
The stock has hit a high of 2,486.30 and a low of 2,111.80 so far. On the BSE, 3.19 lakh shares of the company were traded in the counter.
The IPO of Tatva Chintan Pharma Chem opened for bidding on Friday (16 July 2021) and closed on Tuesday (20 July 2021). The price band of the IPO was fixed at Rs 1073-1083 per share.
The issue received bids for 58.83 crore shares as against 32.61 lakh shares on offer, according to stock exchange data. The issue was subscribed 180.36 times.
Buzzing Index:
The Nifty Metal index rose 2.08% to 5,647.75, extending gains for seventh day. The index has added 8.74% in seven sessions while the benchmark Nifty has added 0.91% during the same period.
SAIL (up 3.10%), Hindalco Industries (up 3.05%), National Aluminum Co. (up 2.75%), Vedanta (up 2.76%), Tata Steel (up 2.45%), JSW Steel (up 2.40%) advanced.
Further, NMDC (up 2.12%), Jindal Steel & Power (up 1.47%), Adani Enterprises (up 1.40%), MOIL (up 1.26%), Hindustan Zinc (up 1.14%) and Welspun Corp (up 0.98%) edged higher.
Concurrently, APL Apollo Tubes (down 1.75%), Coal India (down 0.83%) and Ratnamani Metals Tubes (down 0.12%) edged lower.
Earnings Today:
Tech Mahindra (up 1.17%) is the Nifty stock slated to announce its quarterly earnings today.
Colgate-Palmolive (India) (down 0.62%), Indus Towers (down 2.10%), Container Corporation of India (up 0.64%), TVS Motor Company (down 1.45%), Ajanta Pharma (up 0.49%), LIC Housing Finance (up 0.05%), Union Bank of India (up 0.85%), Future Retail (up 1.16%), Motilal Oswal Financial Services (up 1.90%) and Oberoi Realty (down 0.07%) are some of the companies that will announce their quarterly earnings today.
Earnings Impact:
Nestle India shed 0.47% to Rs 17,938.15. The FMCG major's standalone net profit rose 10.7% to Rs 538.58 crore on a 13.8% rise in net sales to Rs 3,462.35 crore in Q2 June 2021 over Q2 June 2020. Domestic and Export Sales achieved double digit growth largely driven by volume & mix. Key products Maggi Noodles, Kitkat, NestlMunch, Maggi Sauces, Maggi Masala-Ae-Magic posted strong double-digit growth. E-Commerce channels grew 105% and contributed 6.4% of domestic sales. In recent times, commodity prices have been rising across oils and packaging materials.
Separately, the company's board has considered and accorded in-principle approval for disinvestment of its entire minority stake of 19.98% in Sahyadri Agro and Dairy (formerly Indocon Agro and Allied Activities), a company engaged in milk collection business in western India, due to change in the business scenario.
Mahanagar Gas jumped 1.92% to Rs 1,140.75. The PSU company reported a 351% jump in net profit to Rs 204.08 crore on 135% rise in net sales to Rs 615.49 crore in Q1 FY22 over Q1 FY21. On a sequential basis, the company's net profit declined 4% while its net sales fell 14% in Q1 FY22 over Q4 FY21. The company's total sales volume declined 16.14% to 218.25 SCM (standard cubic metre) million in Q1 FY22 from 260.25 SCM posted in Q4 FY21.
Happiest Minds Technologies fell 1.59% to Rs 1,364.75. The IT company's consolidated net profit fell 28.8% to Rs 35.73 on a 38.2% rise in net sales to Rs 244.61 crore in Q1 FY22 over Q1 FY21. On a sequential basis, the company's net profit fell nearly 1% while its net sales rose 10.8% in Q1 FY22 as compared to Q4 FY21. The company added 18 new customers in the quarter and total client based now stands at 180 as of 30 June 2021. The IT major's attrition rate (on TTM basis) stood at 14.7%.
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