Key equity indices continued trading with strong gains in mid-morning trade amid positive Asian cues. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 476.38 points or 0.98% to 48,916.50. The Nifty 50 index added 150.20 points or 1.05% to 14,475.10.
In the broader market, the S&P BSE Mid-Cap index gained 1.25% while the S&P BSE Small-Cap index rose 0.88%.
The market breadth was strong. On the BSE, 1678 shares rose and 929 shares fell. A total of 181 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 125,431,910 with 2,754,935 deaths. India reported 421,066 active cases of COVID-19 infection and 160,949 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
India recorded its highest single-day Covid count in over five months on Thursday with 59,118 people testing positive for the virus.
Primary Market:
The initial public offer (IPO) of Barbeque Nation Hospitality received bids for 1.14 crore shares as against 49.99 lakh shares on offer, according to the stock exchange data at 11:20 IST on Friday (26 March 2021). The issue was subscribed 2.30 times.
The issue opened for bidding on Wednesday, 24 March 2021, and it will close on Friday, 26 March 2021. The price band for the IPO is set at Rs 498-500 per share.
New Listing:
Shares of Kalyan Jewellers India were trading at Rs 78.05 at 11:22 IST on the BSE, a discount of 10.29% over the initial public offer (IPO) price of Rs 87.
The stock was listed at Rs 73.9, a discount of 15.06% to the IPO price. So far, the stock hit a high of Rs 81 and low of Rs 73. On the BSE, 23.49 lakh shares were traded on the counter so far.
The IPO of Kalyan Jewellers India was subscribed 2.61 times. The issue opened for bidding on 16 March 2021 and closed on 18 March 2021. The price band for the IPO was set at Rs 86-87 per share.
Shares of Suryoday Small Finance Bank were trading at Rs 278.60 at 11:23 IST on the BSE, a discount of 8.66% over the initial public offer (IPO) price of Rs 305.
The stock was listed at Rs 293, a discount of 3.93% to the IPO price. So far, the stock hit a high of Rs 295.95 and low of Rs 275.60. On the BSE, 2.79 lakh shares were traded on the counter so far.
The IPO of Suryoday Small Finance Bank was subscribed 2.37 times. The issue opened for bidding on Wednesday, 17 March 2021, and it closed on Friday, 19 March 2021. The price band for the IPO was set at Rs 303-305 per share.
Buzzing Index:
The Nifty Pharma index was up 0.66% to 11,894.35. The index had lost 0.83% to end at 11,816.80 yesterday.
Aurobindo Pharma (up 1.46%), Divi's Labs (up 1.40%) and Cipla (up 0.58%) advanced while Dr. Reddy's Labs (down 0.24%), Biocon (down 0.23%) and Alkem Laboratories (down 0.13%) declined.
Sun Pharma (up 1.69%), Torrent Pharma (up 0.99%), Cadila Healthcare (up 0.43%) and Lupin (down 1.13%) on Thursday announced they have subscribed to partnership interest in healthcare services firm ABCD Technologies at a cost of Rs 40 crore each.
The four pharmaceutical companies will acquire 20% stake each in ABCD Technologies, which will be renamed as IndoHealth Services.
The objective of acquisition is to facilitate, enable and promote efficiency and Good Distribution Practices including digitizing healthcare infrastructure in India, in support of the National Digital Health Mission of Government of India.
Global Markets:
Asian stocks rose across the board on Friday trade following an overnight rebound on Wall Street.
U.S. stocks staged a late-day comeback on Thursday, boosted by economic comeback plays as the market rebounded from a two-day losing streak.
Federal Reserve Chairman Jerome Powell acknowledged Thursday that fiscal help from Congress and accelerated vaccine distribution has allowed the U.S. to recover faster than expected.
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