At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 308.81 points or 0.50% to 62,439.38. The Nifty 50 index added 75.85 points or 0.41% to 18,573.
In the broader market, the S&P BSE Mid-Cap index rose 0.16% while the S&P BSE Small-Cap index gained 0.43%.
The market breadth was strong. On the BSE, 2,095 shares rose and 1,248 shares fell. A total of 159 shares were unchanged.
IPO Update:
The initial public offer (IPO) of Sula Vineyards received bids for 72,52,560 shares as against 1,88,30,372 shares on offer, according to stock exchange data at 11:12 IST on Tuesday (13 December 2022). The issue was subscribed 39%.
The issue opened for bidding on Monday (12 December 2022) and it will close on Wednesday (14 December 2022). The price band of the IPO is fixed at Rs 340-357 per share. An investor can bid for a minimum of 42 equity shares and in multiples thereof.
The initial public offer (IPO) of Abans Holdings received bids for 29,91,890 shares as against 1,28,00,000 shares on offer, according to stock exchange data at 11:12 IST on Tuesday (13 December 2022). The issue was subscribed 23%.
The issue opened for bidding on Monday (12 December 2022) and it will close on Thursday (15 December 2022). The price band of the IPO is fixed at Rs 256-270 per share. An investor can bid for a minimum of 55 equity shares and in multiples thereof.
The initial public offer (IPO) of Landmark Cars received bids for 2,22,720 shares as against 80,41,805 shares on offer, according to stock exchange data at 11:12 IST on Tuesday (13 December 2022). The issue was subscribed 3%.
The issue opened for bidding on Tuesday (13 December 2022) and it will close on Thursday (15 December 2022). The price band of the IPO is fixed at Rs 481-506 per share. An investor can bid for a minimum of 29 equity shares and in multiples thereof.
Buzzing Index:
The Nifty IT index rose 0.72% to 29,259.40. The index has declined 6.65% in past seven trading sessions.
HCL Technologies (up 1.23%), Coforge (up 1.02%), Tata Consultancy Services (up 0.81%), Infosys (up 0.52%), Tech Mahindra (up 0.52%), Wipro (up 0.32%), L&T Technology Services (up 0.15%), Mphasis (up 0.06%) were the top gainers.
On the other hand, Persistent Systems (down 0.67%), LTI Mindtree (down 0.25%) edged lower.
Stocks in Spotlight:
Tata Motors (TML) rose 1.28% to Rs 419.40 after the company's board approved partial divestment of the equity shares held by TML in Tata Technologies, a subsidiary of the company, through initial public offering (IPO).
Jaiprakash Associates declined 4.94%; Jaiprakash Power Ventures slipped 3.25%; and Dalmia Bharat skid 3.21%. Dalmia Cement (Bharat) (DCBL), wholly-owned subsidiary of Dalmia Bharat on Monday (12 December 2022) entered into a binding framework agreement for the acquisition of clinker, cement and power plants from Jaiprakash Associates and its associate having total cement capacity of 9.4 million tonnes (MnT) (along with Clinker capacity of 6.7 MnT and thermal power plants of 280MW) at an enterprise value of Rs 5,666 crore.
KEC International rallied 4.45% after the company announced that it has secured new orders worth Rs 1,349 crore across its various businesses.
Global markets:
Asian stocks were trading mixed as investors look ahead to a highly anticipated Federal Reserve meeting and U.S. CPI data.
US stocks indexes rallied on Monday, lifted in part by gains in Microsoft and Pfizer, as investors girded for inflation data on Tuesday and a policy announcement from the Federal Reserve later in the week.
The Federal Reserve is set to begin its two-day meeting on Tuesday. Economists widely expect the U.S. central bank to raise rates by half a percentage point Wednesday. The latest reading for the U.S. consumer price index report for November is also slated for Tuesday. Traders are hoping for signs of easing inflation.
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