On the sectoral front, Nifty Bank ended flat, and Nifty IT index gained nearly one per cent.
Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 settled with gains for the second consecutive day on Tuesday. BSE Sensex gained 152 points or 0.3 per cent to end at 54,554.66, while Nifty 50 index settled at 16,280, up 22 points or 0.13 per cent. During intraday, Sensex hit a record high of 54,779.66, while Nifty 16,359. Bharti Airtel was the top Sensex gainer, up nearly 4 per cent, followed by Tech Mahindra, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and M&M. On the flip side, Tata Steel was the top loser, down 2.7 per cent. Power Grid Corporation of India, NTPC, ITC, Bajaj-Auto and SBI were among other laggards. On the sectoral front, Nifty Bank ended flat, and Nifty IT index gained nearly one per cent. While Nifty Auto, Nifty FMCG, Nifty Metal, ended in the red.
Capital markets regulator SEBI (Securities and Exchange Board of India) has given its nod for Sansera Engineering’s IPO. The auto component manufacturer’s IPO will entirely be an offer for sale by existing shareholders and won’t consist of a fresh issue of equity shares. The company’s existing shareholders and promoters are looking to sell a total of 1.72 crore shares through the IPO. Sansera Engineering had filed its Draft Red Herring Prospectus (DRHP) with SEBI in June this year. The company received the market regulator’s nod last Friday, an update on SEBI’s website showed.
BSE Sensex gained 152 points or 0.3 per cent to end at 54,554.66, while Nifty 50 index settled at 16,280, up 22 points or 0.13 per cent
Chemplast Sanmar is attempting to re-list on the exchanges after a period of 9 years. It had earlier opted for voluntary delisting in June 2012 at a market cap of around Rs. 1,190 crore. The post-issue implied market cap is 7.5x higher than the mcap at delisting. At the higher end of the price band, Chemplast Sanmar is priced at a P/E 20.85 times FY21 earnings per share (on a post-issue) fully diluted basis. While this appears reasonable as compared to other listed peers such as PI Industries (58.9 times), SRF (24.7 times), Navin Fluorine (73.8 times), Chemplast had seen super-normal profits in the previous year, which may not be sustainable. In case we consider FY20 earnings, then the IPO is aggressively priced at a P/E ratio of more than 300 times. SEBI-registered investment advisor INDmoney said in a report
Nifty IT index hits fresh high, led by gains in Tech Mahindra, Infosys, HCL Tech, Wipro and TCS, among others
Crypto asset management platform Mudrex has raised USD 2.5 million (over Rs 18 crore) in a funding round led by Nexus Venture Partners that also saw participation from Village Global and angel investors Kunal Shah, Anand Chandrashekharan and Anjali Bansal. The funds will help Mudrex in scaling up the team and operations, acquiring global regulatory compliances, and creating innovative products, Nexus Venture Partners (NVP) said in a statement.
Public procurement portal Government e-Marketplace (GeM) currently accounts for only 5 per cent of the total government procurement worth around Rs 20 lakh crore even as it has helped save 10 per cent in cost — around Rs 10,000 crore in a cumulative procurement of Rs 1 lakh crore in five years, according to Commerce Secretary BVR Subrahmanyam.
Food and beverage major Keventer Agro has filed draft papers with capital markets regulator Sebi to raise funds through an initial share-sale. The initial public offer (IPO) comprises fresh issuance of equity shares worth Rs 350 crore and an offer of sale of 10,767,664 equity shares by Mandala Swede SPV, according to draft red herring prospectus (DRHP). The company, in its draft papers, said that the (OFS) includes “1.53 crore compulsory convertible preference shares, which will be converted up to a maximum of 91.51 lakh shares prior to the filing of the red herring prospectus with the RoC, solely for the purpose of the offer”.
India VIX, the volatility index, gained 1.56 per cent to trade at 12.80 levels
Nifty 50 index was trading flat at 264.10 level. In intraday deals, it hit 16,359.25 as a record high
BSE Sensex rose to trade in green after falling in the red in afternoon deals. Bharti Airtel was the top Sensex gainer
Aditya Birla Sun Life AMC has received capital markets regulator Sebi’s approval to raise funds through an initial share sale. The initial public offer (IPO) is entirely an offer for sale, wherein two promoters — Aditya Birla Capital and Sun Life (India) AMC Investments — will divest their stake in the asset management firm, according to the draft red herring prospectus (DRHP).
CarTrade Tech’s Rs 2,999-crore IPO, which opened for subscription on Monday, has received a 59 per cent subscription so far, on the second day of the bidding process. The offer will be available for subscription till Wednesday, August 11, 2021. The public issue of this online auto classified platform is entirely an offer for sale (OFS) of 1.85 crore equity shares. In the primary market, the premium in CarTrade Tech has now fallen to Rs 255, from Rs 700, last week, following the weak listings of Glenmark Life Sciences and Rolex Rings.
After rallying smartly since September 2020, Industrial stocks are still trading at their long-term average of ~22x two-year forward earnings. These valuations could expand materially as India sits at the cusp of a multi-year Capex cycle, said Bank of America in a recent report. The Capex cycle could further benefit from the infrastructure stimulus planned by the United States. “Our optimistic view is reflected in 10/16 stocks under our coverage having a Buy rating. We prefer EPC player: L&T, asset owners: Adani Ports, NTPC, product players: Cummins, Bharat Electronics, Crompton, Havells, Voltas, service provider: Concor, for exposure to this theme as we see opportunities for them to expand margins/RoE/valuations,” BofA said.
Windlas Biotech’s Rs 401.53-crore IPO, which was subscribed 22.46 times, will finalise share allotment on Wednesday, 11 August 2021. In the primary market, Windlas Biotech shares were quoting at a premium of Rs 80, over the IPO price of Rs 460 apiece. Windlas Biotech shares were trading at Rs 540 apiece in the grey market, a 17.4 per cent premium over the issue price, according to the people who deal in unlisted shares of the companies.
Buy: UPL, SL: Rs 769, TGT: Rs 800UPL is trading near-monthly base, today it has made reversal cadel also at the monthly bottom. (Ravi Singhal, Vice Chairman at GCL Securities)
Buy TVS Motors, SL: Rs 548, TGT: Rs 583-600Buy Muthoot Capital at Rs 415, SL: Rs 390 TGT: Rs 435-455 (Sandeep Matta, Founder, TRADEIT Investment Advisor)
Rating: Buy, CMP: Rs.3,140, Target Price: Rs.3,640
Standalone revenue grew 14.3%YoY to Rs. 1,107cr, owing to strong volumes resulting in solid export growth (+31.0% YoY), while domestic remained subdued hit by pandemic and delayed monsoon. EBITDA rose 12.5% YoY despite margin contraction of 40bps YoY to 22.1% with rising overheads due to pandemic-related spends. Strong cash flows and balance sheet position, healthy order book, new launches, commercialization, and continued R&D investments should drive sustainable growth. Hence, we reiterate our BUY rating on the stock with a revised TP of Rs. 3,640 based on 45x FY23E adj. EPS. Geojit Financial Services
Bharti Airtel share price is nearing its 52-week high of Rs 623. The stock was trading at Rs 622.65, rising 3.6 per cent
BSE Sensex hit a fresh high of 54,772.07, while Nifty 50 index surged to a new high of 16,359.25
Aptus Value Housing Finance Rs 2,780.05-crore IPO has opened for subscription on Tuesday, at a price band of Rs 346-353 per share. On Monday, Aptus Value Housing Finance raised Rs 834 crore from anchor investors. The company has allocated 2.36 crore equity shares at Rs 353 apiece aggregating the transaction size to Rs 834 crore. Nomura, Copthall Mauritius Investment, Steadview Capital Mauritius, Elara India Opportunities Fund, Edelweiss Mutual Fund (MF) Axis MF and DSP MF, among others, have participated in the anchor book. In the primary market, Aptus Value Housing Finance shares were quoting at a premium of Rs 22. Aptus Value Housing Finance shares were trading at Rs 375, a premium of over 6 per cent, as against the IPO price. Upon listing Aptus Value Housing will join peers Aavas Financiers Limited.
"The index is at 16300 once again! What needs to be seen is if we can close above this level. If we can manage that, the Nifty should move higher to 16500-16600. Traders should focus on buying rather than selling as the market trend is positive and there is a good support at 16050-16100. A buy on dips approach would be appropriate," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Chemplast Sanmar’s Rs 3,850 crore IPO opened for subscription today in the fixed price band of Rs 530-541 per share. Investors can subscribe to the IPO in a bid lot of 27 shares and multiples thereafter till Friday evening. Ahead of the IPO, the company has managed to raise Rs 1,732 crore from 78 anchor investors, including marquee names such as Goldman Sachs, Abu Dabhi Investment Authority, BNP Paribas, HDFC, SBI, among others. Chemplast Sanmar is a specialty chemicals manufacturer with a focus on specialty paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.
Selling pressure continues in precious metal on increasing possibility of assets tapering earlier than estimated. US 10 year bond yield reached at 1.31 level from 1.13 levels. Dollar which measures the basket of major currency has reached at its higher levels which putting pressure on Gold and Silver. Gold fell 1.60% while Silver fell down 4% in MCX. Downside momentum will continue today and Gold may test 45400 levels while Silver may test 61000 levels on downside. Abhishek Chauhan, Head Commodities and Currency, Swastika Investmart
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading firm on Tuesday, even as rates in the international market languished near multi-month lows. On Multi Commodity Exchange, gold October futures were up half a per cent or Rs 203 to Rs 46,089 per 10 gram as against the previous close of Rs 46,095 per 10 gram. Silver September futures surged Rs 561 or 0.90 per cent to Rs 63,198 per kg.
Back home, USDINR took a sharp reversal in NDF from 74.26 to testing an important resistance of 74.50 levels. Risk aversion due to the double whammy of rising covid cases and new restrictions in China has been taking emerging markets on a toll. However, with IPO flows remaining in full swing and oil prices tanking below $70 could provide rupee some support. Overall, for USDINR pair 74.40-74.50 remains a crucial resistance to determine the way forward for the rupee. Any sustainable move above 74.50 levels can push the rupee towards the 74.80-74.90 zone in coming days. As the primary trend for rupee is on a weaker side considering the broad dollar strength, it is good to remain buyer on every dip and one can go slow in selling. Amit Pabari, MD, CR Forex Advisors
Barring Nifty FMCG index, all the sectoral indices were trading in the green. Bank Nifty was up 0.58 per cent at 36,238.80. Nifty Financial Services index gained 0.7 per cent
Power Grid Corporation of India, Nestle India, Bajaj-Auto, HUL, ITC were top index losers
Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC), Titan Company, Bajaj Finance, M&M, State Bank of India (SBI), IndusInd Bank were top Sensex gainers
BSE Sensex was up 150 points at 54,552, while Nifty rose to 16,298, gaining 41.50 points
BSE Sensex was up 57 points at 54,460, while Nifty rose to 16,340, near all-time high of 16,349 in pre-open
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel have been left untouched by oil marketing companies for the twenty-fourth consecutive day. Today, petrol in the national capital costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4, now sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since rates were first hiked more than 3 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
Now going further for Nifty 16220 will act as immediate support followed by 16130 &16075, Similarly on the upside 16300 - 16350 -16430 will act as resistance levels. Bank Nifty, on the other side, has support at 35900 followed by 35600 & resistance above 36200 - 36500 levels for Tuesday.
After a sharp rally last week, the Nifty is consolidating in the range of 16300-16150 level. However, the larger breakout continuation texture is still on the positive side and could continue in the short run. For the day traders, the 16180/16150 level would be strong support, and as long as it's trading above the same the uptrend is intact. On the other hand, the 16300 levels would be the immediate hurdle for Nifty and above the same, the continuation formation is likely to continue up to 16350-16375 levels. Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities
The short-term trend of Nifty remains choppy. The recent upside breakout of the broader range is still intact. The present consolidation/minor weakness is unlikely to damage the sentiment post upside breakout. We expect Nifty to show a sharp upside bounce again from near the support of 16100 levels in the next couple of sessions. A decisive move above 16350 could pull Nifty towards 16500 in the near term. Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Nifty is expected to open slightly negative, down by 10 points from yesterday's close. Yesterday, Nifty took support at 16180 level. 16150-16200 will act as a strong support range and as long as Nifty is holding above it, we can expect 16350 and 16400 in the coming sessions. The trend in Nifty will remain bullish as long as it holds 15900 level. Gaurav Udani, Founder & CEO, ThincRedBlu Securities
BSE-listed companies such as Zomato, Coal India, Lupin, Power Grid Corporation of India, Ashoka Buildcon, Balaji Telefilms, Mrs Bectors Food Specialities, Brookfield India Real Estate Trust REIT, Computer Age Management Services, Deepak Fertilisers, Eveready Industries, Heranba Industries, Infibeam Avenues, IRB Infrastructure Developers, Jindal Steel & Power, Krishna Institute of Medical Sciences, Linde India, Manappuram Finance, Max Financial Services, Motherson Sumi Systems, Prestige Estates Projects, Reliance Infrastructure, Tata Teleservices (Maharashtra), and Whirlpool of India, will release Apr-Jun quarter earnings on August 10.
Domestic benchmark indices marched higher on Monday while correction in broader markets continued. S&P BSE Sensex now sits at 54,402 points while the NSE Nifty 50 is at 16,258. Bank Nifty jumped 0.61% to cross the 36,000 mark. On Tuesday morning, SGX Nifty was in the red, hinting at negative momentum ahead of the day’s opening bell. Cues from global peers were mixed with Wall Street indices ending the previous day mixed and Asian markets mirroring that trend. On the charts, analysts are suggesting a ‘buy on dip’ strategy seeing that the overall momentum is positive. Once we cross 16,300, we can scale higher to 16,500-16,600, said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Mukesh Ambani’s Reliance New Energy Solar Ltd will invest $50 million in Ambri Inc, a renewable energy storage company in the United States. Reliance Industries Ltd’s wholly-owned subsidiary Reliance New Energy Solar will acquire 42.3 million shares of preferred stock in Ambri. The investment comes as a part of a combined $141 million investment in Ambri by strategic investors including Paulson & Co Inc and Bill Gates. Ambri, founded in 2010, has developed and is commercializing a new, long-duration battery technology, which RIL said, will enable widespread use of renewable energy sources, cut electricity costs, and enable power systems to operate more reliably and efficiently.
The initial public offer of online auto classified platform CarTrade Tech was subscribed 41 per cent on Monday, the first day of subscription. The Rs 2,998.51-crore IPO received bids for 53,00,406 shares against 1,29,72,552 shares on offer, as per exchanges data. Retail individual investors (RIIs) category was subscribed 80 per cent, non-institutional investors 3 per cent and Qualified Institutional Buyers (QIBs) 1 per cent.
Chemplast Sanmar Rs 3,850-crore will open for subscription on Tuesday, 10 August 2021, at a price band of Rs 530-541 per share of face value of Rs 5 each. The company is eyeing stock market listing, after it got delisted nearly a decade ago. Specialty chemicals manufacturer public issue will close on Thursday, 12 August. The offer comprises fresh issue shares worth Rs 1,300 crore and an offer for sale (OFS) of up to shares worth Rs 2,550 crore by promoters. The OFS comprises the sale of shares worth Rs 2,463 crore by Sanmar Holdings Ltd and Rs 86.5 crore equity shares by Sanmar Engineering Services Ltd.
Market HIGHLIGHTS: Sensex gains 150 pts, Nifty ends below 16,300 for 2nd straight day; Bharti Airtel jumps 4% - The Financial Express
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