As per the provisional closing data, the barometer index, the S&P BSE Sensex, was up 29.41 points or 0.05% to 60,077.05. The Nifty 50 index was up 1.9 points at 17,855.4.
In the broader market, the S&P BSE Mid-Cap index ended flat while the S&P BSE Small-Cap index fell 0.13%.
The market breadth was negative. On the BSE, 1643 shares rose and 1704 shares fell. A total of 189 shares were unchanged.
Reliance Industries rose 1.63% to Rs 2523.45. The stock touched the Rs 16-lakh crore market capitalization mark.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 231,820,895 with 4,748,055 deaths. India reported 299,620 active cases of COVID-19 infection and 447,194 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.
In the last 24 hours, India recorded 26,041 new cases of COVID-19. The recovery rate currently stood at 97.78% with 29,621 recoveries in the last 24 hours taking the total recoveries to 3,29,31,972.
A total of 86,27,23,841 COVID-19 vaccine doses have been administered in the country so far, with over 38.02 lakh doses being given yesterday, according to the Co-WIN dashboard.
Economy:
The direct tax collections for the financial year 2021-22, as on 22 September 2021 showed that net collections are at Rs 5,70,568 crore, a year-on-year increase of 74.4%. In the last financial year, the net collection was Rs 3,27,174 crore, a Finance Ministry release stated on 24 September 2021. The net direct tax collection of Rs 5,70,568 crore, includes corporation tax of Rs 3,02,975 crore (net of refund) and personal income tax including security transaction tax (STT) of Rs 2,67,593 crore (net of refund).
The advance tax collection in the second quarter (1 July 2021 to 22 September 2021) of FY 2021-22 is Rs 1,72,071 crore, a growth of 51.50% over Rs 1,13,571 crore in the corresponding period in FY 2020-21. Refunds amounting to Rs 75,111 crore have been issued in the FY 2021-22 so far. The gross collection of direct taxes (before adjusting for refunds) for the FY 2021-22 stands at Rs 6,45,679 crore compared to Rs 4,39,242 crore in the corresponding period of the preceding financial year, registering a growth of 47% over collections of FY 2020-21.
Stocks in Spotlight:
Hindustan Copper fell 0.41%. The Government of India has offered to sell 31,98,646 equity shares to eligible employees of the state-run company at Rs 116 each. In accordance with the approval given by alternative mechanism on 15 September 2021, the Government of India is offering up to 31,98,646 equity shares (0.33% equity) of face value of Rs 5 each to the eligible employees of the company at Rs 116 per equity share. The offer price is 5.17% premium to Hindustan Copper's closing price of Rs 110.30 on Friday, 24 September 2021. The employee OFS shall remain open from 27 September 2021 to 29 September 2021 (both days inclusive).
Patel Engineering 8.48% after the company bagged Rs 1,251 crore, lot-II civil work contract for 500 MW Teesta-VI Hydro Electric Project, Sikkim, from Lanco Teesta Hydro Power, a wholly owned subsidiary of NHPC.
Shares of multiplex operators were in demand after the Maharashtra government on Saturday announced that it will allow cinemas to resume operations in the state after 22 October 2021. PVR jumped 5.26% to Rs 1590.60 and Inox Leisure surged 7.65% at Rs 376.55.
United Breweries fell 3.21% after the Competition Commission of India (CCI) fined the company about Rs 750 crore for indulging in cartelisation in the sale and supply of beer. CCI passed a final order against UBL, SABMiller India (now known as Anheuser Busch InBev India) and Carlsberg India for indulging in cartelisation in the sale and supply of beer in various States and Union Territories in India. Based on evidences, CCI found that the three companies engaged in price co-ordination in Andhra Pradesh, Karnataka, Maharashtra, Odisha, Rajasthan, West Bengal, National Capital Territory of Delhi and the Union Territory of Puducherry. The firms were collectively restricting beer supply in Maharashtra, Odisha and West Bengal. The companies were sharing market in Maharashtra and co-ordinating beer supply to premium institutions in Bengaluru. Further, the fair trade regulator also found co-ordination among UBL and AB InBev for purchase of second-hand bottles.
Sansera Engineering advanced 3.04% after various domestic and global asset managers acquired stake in the company. Abu Dhabi Investment Authority acquired 4.87 lakh shares of the company at an average price of Rs 821.48 per share. Concurrently, Nomura Funds Ireland bought 6 lakh shares of the firm at an average price of Rs 820.10 apiece. Further, IIFL Asset Management and IIFL Mutual Fund together purchased 8.67 lakh shares of Sansera Engineering via bulk deals on the NSE on Friday.
SJVN rose 1.86% after the company said it secured 1000 megawatt Solar PV power project worth Rs 5,500 crore. In an exchange filing, SJVN said it bagged the full quoted capacity of 1000 MW at a viability gap funding (VGF) support of Rs 44.72 lakh per MW by Government of India, through Request for Proposal (RFP) floated by Indian Renewable Energy Development Agency (IREDA).
Container Corporation of India rose 0.45%. The PSU company said that the Ministry of Railways, Government of India, has extended the tenure of the company's chairman and managing director V. Kalyana Rama by two years till 30 September 2023. The CMD's tenure was to end on 30 September 2021, the PSU said.
Biocon fell 0.39% to Rs 358.8 after the company's Malaysian subsidiary received six observations from the US drug regulator. The US Food and Drug Administration (USFDA) conducted an on-site pre-approval inspection (PAI) of Biocon's Malaysian subsidiary Biocon Sdn. Bhd's manufacturing facility for insulin aspart between 13 and 24 September 2021. At the conclusion of the inspection, the agency has issued a Form 483 with a total of 6 observations across drug substance, drug product and devices facilities.
Astrazeneca Pharma India rose 1.26% after the drug company said that it received import and market permission in Form CT-20 from the Drugs Controller General of India (DGCI) for Selumetinib capsule. Selumetinib capsule is indicated for treatment of Pediatric patients 3 years of age and older with neurofibromatosis type 1 (NF1) and who have symptomatic, inoperable plexiform neurofibromas (PN).
NBCC (India) gained 2.59%. after the EPC company said that it has secured a work order for the construction of 2000 social housing at Hulhumale, Male, Maldives on engineering procurement and construction (EPC) basis. The total cost of the project is $130 million, which is approximately Rs 968.50 crore.
Nucleus Software fell 1.62%. The IT company's board on Friday approved a proposal to buyback equity shares worth upto Rs 158.71 crore. The company proposes to buyback upto 22,67,400 equity shares, comprising of 7.81% of the total paid-up equity capital of the company, at Rs 700 per share, for an aggregate amount not exceeding Rs 158.71 crore.
Global Markets:
European markets advanced while Asian stocks ended mixed on Monday, with investors monitoring stocks related to embattled developer China Evergrande Group.
In Germany, preliminary results on Monday morning showed the center-left Social Democratic Party gaining the largest share of the vote with 25.8%. Angela Merkel's right-leaning bloc of the Christian Democratic Union and Christian Social Union was seen with 24.1% of the vote. But coalition negotiations, which could begin on Monday, are likely to take weeks or even months.
European Central Bank President Christine Lagarde today will deliver a statement to a European Parliament committee.
US stocks closed mixed Friday as the market fell back under pressure amid concerns relating to China, COVID-19 and U.S. politics.
Eyes will also be on U.S. fiscal policy with the House of Representatives due to vote on a $1 trillion infrastructure bill this week, while a September 30 deadline on funding federal agencies could force the second partial government shutdown in three years.
Elsewhere, early projections on Sunday pointed to a knife-edge result in Germany federal elections as the country looks for a successor to Angela Merkel, who is preparing to leave office after 16 years in power.
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