As per the provisional closing data, the barometer index, the S&P BSE Sensex, rose 497 points or 0.89% at 56,319.15. The Nifty 50 index gained 156.65 points or 0.94% at 16,770.20. The Nifty tumbled 3.68% in the past two sessions.
Broader markets outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 1.43% while the S&P BSE Small-Cap index rallied 1.29%.
Buyers outnumbered sellers. On the BSE, 2,287 shares rose and 1,031 shares fell. A total of 113 shares were unchanged.
Primary Market:
The initial public offer (IPO) of CMS Info Systems received bids for over 1.25 crore shares as against 3.75 crore shares on offer, according to stock exchange data at 15:27 IST on Tuesday, (21 December 2021). The issue was subscribed 34%.
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The issue opened for bidding on 21 December 2021 and it will close on 23 December 2021. The price band of the IPO is fixed at Rs 205-216. An investor can bid for a minimum of 69 equity shares and in multiples thereof. The IPO consists entirely of an offer of sale (OFS) comprising raising of Rs 1,100 crore.
New Listing:
Shares of C E Info Systems (MapMyIndia) were currently trading at Rs 1376 on the BSE, at a premium of 33.2% as against the issue price of Rs 1,033. The scrip was listed at Rs 1581, representing a premium of 53.05% to the initial public offer (IPO) price. So far, the scrip has hit a high of Rs 1586.85 and a low of Rs 1330. Over 11.41 lakh shares of the company have changed hands in the counter till now. The initial public offer (IPO) of C E Info Systems (MapMyIndia) was subscribed 154.71 times. The issue opened for bidding on 9 December 2021 and it closed on 13 December 2021. The price band of the IPO was fixed at Rs 1,000-1,033 per share.
Stocks in Spotlight:
Indian Oil Corporation rose 0.64%. The PSU OMC will acquire 36,93,750 equity shares, equivalent to 4.93% stake of Indian Gas Exchange (IGX), a subsidiary of Indian Energy Exchange (IEX). As per the company's press statement, the acquisition of equity stake in IGX will provide an opportunity for Indian Oil Corporation (IOCL) to become part of india's natural gas market and increase its presence to achieve leadership position in the market.
Additionally, in a separate announcement, Indian Oil intimated regarding the approval for an investment proposal of new crude oil pipeline system with nameplate capacity of 17.5 million metric tonnes per annum (MMTPA) from Mundra (Gujarat) to Panipat (Haryana) alongwith with augmentation of crude oil tank farm at Mundra, at an estimated cost of Rs 9,028 crore. The project will meet the enhanced crude oil requirement arising out of capacity expansion of Panipat Refinery to 25 MMTPA from 15 MMTPA. The project is expected to be completed within 36 months (3 years) and would be synchronized with the commissioning of Panipat Refinery expansion project.
Adani Enterprises rose 1.89%. The company said it received Letter of Awards (LoAs) from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for three Greenfield Ganga Expressway Projects - Group II, III and IV from Badaun to Prayagraj in the state of Uttar Pradesh on DBFOT (Toll) basis. The combined estimated cost for project is Rs 17,085.16 crore.
RailTel Corporation of India added 1.49% after the company received work order from Defence R & D Organisation for Expansion and Enhancement of CIAG Network Capacity at a total cost of Rs. 68.31 crore (Inclusive of GST).
Piramal Enterprises advanced 3.87% after Piramal Pharma (PPL) announced an investment of Rs 101.77 crore in Yapan Bio (Hyderabad), a CDMO providing expertise in biologics and vaccines. The investment would aid in augmenting the capabilities of PPL's contract development and manufacturing organization (CDMO) business, Piramal Pharma Solutions (PPS). PPL holds 27.78% equity stake in Yapan Bio as a result of this investment.
Strides Pharma Science rose 1.78% after the company said that Stelis Biopharma has commissioned its large-scale fully integrated vaccine manufacturing facility at Bengaluru, India. The facility was successfully inspected by the Central Drugs Standard Control Organization (CDSCO). Stelis has also received an initial Export No Objection Certificate (NOC) from CDSCO to export up to 50 million doses of the Sputnik Light vaccine.
Hatsun Agro Product fell 2.3%. The company announced it commenced commercial production at Govindapur Ice Cream manufacturing plant in Telangana with effect from 19 December 2021.
Globus Spirits jumped 7.5% after the company announced commencement of commercial production at the enhanced capacity in the West Bengal Unit.
Shilpa Medicare jumped 4.27% after the drug maker on Tuesday announced the launch of chronic constipation drug for adults. The drug company launched PRUCALSHIL (Prucalopride), an orally disintegrating strips of 1 mg and 2 mg in India. Prucalopride is used for symptomatic treatment of chronic constipation in adults in whom laxatives fail to provide adequate relief. Prucalopride medicine in the form of orally disintegrating strips and are most convenient dosage form for geriatric patients.
Global Markets:
Shares in Europe and Asia advanced on Tuesday. Investors continued to monitor the situation surrounding the omicron Covid variant.
U.S. stocks ended lower on Monday as investors grappled with the resurgence of Covid cases spurred from the newfound omicron variant.
The omicron variant is raging across to the world as the winter holiday season approaches. U.S. cases are jumping into year-end with more than 156,000 reported on Friday, according to data from the Centers for Disease Control and Prevention.
The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to 3 days in areas with community transmission, according to the World Health Organization.
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