The key indices traded with decent gains amid bouts of volatility in morning trade. The Nifty was trading above the 16,500 mark. Metal shares snapped a four-day losing streak.
Domestic sentiment was upbeat after Union Minister for Finance and Corporate Affairs Nirmala Sitharaman launched the National Monetisation Pipeline (NMP) on Monday. Through the NMP, the government will be listing out its infrastructure assets worth Rs 6 lakh crore to be sold over the next four years.
At 10:23 IST, the barometer index, the S&P BSE Sensex, was up 121.74 points or 0.22% to 55,677.53. The Nifty 50 index added 42.50 points or 0.26% to 16,538.95.
IT major Infosys was down 0.09% at Rs 1737.60. It hit a record high of Rs 1755.60 in morning trade today. The counter clocked a market capitalisation of Rs 7,37,066.94 crore.
In the broader market, the S&P BSE Mid-Cap index rose 0.54% while the S&P BSE Small-Cap index gained 0.55%.
The market breadth was positive. On the BSE, 1446 shares rose and 1361 shares fell. A total of 113 shares were unchanged.
Economy:
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman launched the National Monetisation Pipeline (NMP) on Monday, 23 August 2021. NMP comprises a four-year pipeline of the Central Government's brownfield infrastructure assets. Besides providing visibility to investors, NMP will also serve as a medium-term roadmap for the asset monetisation initiative of the government.
The government has planned a Rs 6 lakh crore pipeline of assets that can be monetised, which will include a range of assets put on the block for private sector participation. The government has also developed an asset monetisation dashboard for monitoring real-time progress of NMP. Policy think tank NITI Aayog has finalised the NMP of potential brownfield infrastructure assets that has been created for a four-year period from financial year 2021-22 to 2024-25.
Giving a presentation, NITI Aayog CEO Amitabh Kant said, infra assets worth Rs. six lakh crore across rail, road, power sectors to be monetised over four years.
The NMP will serve as a roadmap for asset monetisation of various brownfield infrastructure assets across sectors including roads, railways, aviation, power, oil and gas, and warehousing.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 212,511,054 with 4,440,962 global deaths.
India reported 319,551 active cases of COVID-19 infection and 435,110 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
New Listing:
Shares of Aptus Value Housing Finance India were currently trading at Rs 340.60 per share, a discount of 3.51% compared with the issue price of Rs 353 per share.
The scrip was listed at a price of Rs 329.95 per share, at a discount of 6.53% to the initial public offer (IPO) price. The stock has hit a high of Rs 348.80 and a low of Rs 329.95 so far. On the BSE, 5.68 lakh shares of the company were traded in the counter.
The IPO of Aptus Value Housing Finance received bids for 94.82 crore shares as against 5.51 crore shares. The issue was subscribed 17.20 times. The issue opened for bidding on 10 August 2021 and closed on 12 August 2021. The price band of the IPO was fixed at Rs 346-353 per share.
Shares of Chemplast Sanmar were currently trading at Rs 532.55, a discount of 1.56% compared with the issue price of Rs 541 per share.
The scrip was listed at Rs 525 per share, a discount of 2.95% to the initial public offer (IPO) price. So far the stock has hit a high of Rs 550 and a low of Rs 522.80. On the BSE, over 1.74 lakh shares of the company were traded in the counter.
The IPO of Chemplast Sanmar received bids for 8.66 crore shares as against 3.99 crore shares on offer, according to stock exchange data. The issue was subscribed 2.17 times. The issue opened for bidding on Tuesday (10 August 2021) and closed on Thursday (12 August 2021). The price band of the IPO was fixed at Rs 530-541 per share.
Buzzing Index:
The Nifty Metal index rose 1.69% to 5,380.70, amid some bit of value buying. The index tumbled 10.09% in the past four sessions.
National Aluminum Co. (up 6.22%), Welspun Corp (up 3.91%), Hindalco Industries (up 3.20%), NMDC (up 2.79%), Vedanta (up 2.57%), SAIL (up 2.82%), Tata Steel (up 2.70%), Jindal Steel & Power (up 2.52%) and Coal India (up 1.80%) advanced.
Stocks in Spotlight:
Maruti Suzuki India shed 0.41% to Rs 6799. Competition Commission of India (CCI) has imposed a penalty of Rs 200 crore upon Maruti Suzuki India (MSIL) for restricting discounts by dealers. The CCI passed the order against the company for indulging in anti-competitive conduct of resale price maintenance in passenger vehicle segment by implementing discount control policy.
Adani Green Energy added 0.80% to Rs 938. The company said that its board will meet on 26 August 2021 to consider raising upto $75,00,00,000 via issue of debt securities on a private placement basis.
Eicher Motors rose 0.20% to Rs 2548.60. The auto maker said that its board on Monday (23 August 2021) unanimously decided to reappoint Siddhartha Lal as managing director, with effect from 1 May 2021.
The company held its 39th Annual General Meeting (AGM) on 17 August 2021. At the AGM, the company's shareholders rejected a special resolution to reappoint managing director Siddhartha Lal for five years with effect from 1 May 2021.
As per media reports, Lal's reappointment as MD was voted down by the shareholders over a 10% hike in his salary proposed amid the COVID-19 pandemic when the revenues and profits have been slow. Lal's salary of Rs 21.13 crore in FY21 was 340 times the average employee salary and grew at a compound annual growth rate of 28% over the past three years, while the company's operating profit and net profit declined by 14% and 8%, respectively, over the same period, reports indicated.
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