The key equity indices ended with significant gains on Friday. The Nifty closed near the 20,200 level. Auto, IT and private bank shares advanced while oil & gas, FMCG and realty stocks declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 319.63 points or 0.47% to 67,838.63. The Nifty 50 index added 89.25 points or 0.44% to 20,192.35.
The Sensex clocked an all-time high of 67,927.23 while the Nifty hit record high of 20,222.45 in late trade.
In the broader market, the S&P BSE Mid-Cap index rose 0.09% while the S&P BSE Small-Cap index gained 0.27%.
The market breadth was positive. On the BSE, 1,935 shares rose and 1,698 shares fell. A total of 153 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.66% to 10.90.
Economy:
India's market borrowing could be less than expected for the current fiscal year if small savings are more than projected, Economic Affairs Secretary Ajay Seth said on Thursday.
The Centre will come up with a new policy to attract electric vehicle (EV) manufacturers and encourage greater investment in the sector, Union commerce minister Piyush Goyal said.
IPO Update:
The initial public offer (IPO) of R R Kabel received bids for 19.56 crore shares as against 1.33 crore shares on offer, according to stock exchange data at 15:27 IST on Friday (15 September 2023). The issue was subscribed 14.69 times.
The issue opened for bidding on Wednesday (13 September 2023) and it will close on Friday (15 September 2023). The price band of the IPO is fixed at Rs 983-1,035 per share. An investor can bid for a minimum of 14 equity shares and in multiples thereof.
The initial public offer (IPO) of Samhi Hotels received bids for 68.34 lakh shares as against 6.25 crore shares on offer, according to stock exchange data at 15:27 IST on Friday (15 September 2023). The issue was subscribed 0.11 times.
The issue opened for bidding on Thursday (14 September 2023) and it will close on Monday (18 September 2023). The price band of the IPO is fixed at Rs 119-126 per share. An investor can bid for a minimum of 119 equity shares and in multiples thereof.
The initial public offer (IPO) of Zaggle Prepaid Ocean Services received bids for 70.79 lakh shares as against 1.93 crore shares on offer, according to stock exchange data at 15:27 IST on Friday (15 September 2023). The issue was subscribed 0.37 times.
The issue opened for bidding on Thursday (14 September 2023) and it will close on Monday (18 September 2023). The price band of the IPO is fixed at Rs 156-164 per share. An investor can bid for a minimum of 90 equity shares and in multiples thereof.
The initial public offer (IPO) of Yatra Online received bids for 28.09 lakh shares as against 3.09 crore shares on offer, according to stock exchange data at 15:27 IST on Friday (15 September 2023). The issue was subscribed 0.09 times.
The issue opened for bidding on Friday (15 September 2023) and it will close on Wednesday (20 September 2023). The price band of the IPO is fixed at Rs 135-142 per share. An investor can bid for a minimum of 105 equity shares and in multiples thereof.
Stocks in Spotlight:
Reliance Industries (RIL) rose 0.37%. The company is proposing to undertake shutdown of units at Jamnagar for planned maintenance and inspection activities. The company does not expect any material impact on overall operations of Jamnagar complex.
Bharti Airtel added 2.37%. The company received an Order passed u/s 74 of CGST Act, 2017 from Joint Commissioner-CGST, Central Excise & CGST Commissionerate, Jaipur, levying penalty of Rs 2.43 crore. The company will be challenge the order at appropriate appellate forum.
Tata Power Company fell 0.47%. Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a Power Delivery Agreement (PDA) with Xpro India Limited, through a special purpose vehicle (SPV), for the development of a 3.125 MW AC Group Captive Solar Plant. The SPV shall develop, operate, and maintain this captive solar power facility.
Ashok Leyland rose 1.81% after the company said that it has signed a MoU with Uttar Pradesh Government for setting up a new integrated commercial vehicle bus manufacturing facility with an initial investment of Rs 200 crore.
Shakti Pumps (India) surged 9.30% after it received letter of award (LoA) under PM- KUSUM III scheme under component-B from Department of Agriculture, Uttar Pradesh for supply of 10,000 pumps for Rs 293 crore.
Ami Organics rose 1.24% after the company has signed multi-year agreement with Fermion, a fully owned subsidiary of Orion Corporation, Finland to supply additional advanced pharmaceutical intermediate.
Schneider Electric Infrastructure added 2.94% after its board has approved the appointment of Udai Singh as managing director (MD) & chief executive officer (CEO) of the company for three years with effect from 15 September 2023.
GMM Pfaudler rallied 4.40% after the company's subsidiary, GMM Pfaudler US Inc., entered into an agreement to acquire 100% stake in Professional Mixing Equipment (MixPro).
Alkem Laboratories shed 0.72%. The company announced that its board has appointed Dr. Vikas Gupta as the chief executive officer (CEO) of the company with effect from 22 September 2023.
Global Markets:
Markets in Europe and Asia edged higher, bolstered by a slew of China's economic data for August mostly came in better than market expectations.
China's retail sales and industrial production picked up in August, with better-than-expected growth, according to National Bureau of Statistics data released Friday. Retail sales grew by 4.6% in August from a year ago.
The increase was also faster than the 2.5% year-on-year pace in July. Industrial production also rose by 4.5% in August from a year ago, faster than the 3.7% increase reported for July. Fixed asset investment, however, grew by 3.2% year-on-year in August on a year-to-date basis. That was slower than the 3.4% pace reported as of July.
US stocks ended higher as core producer price index in the U.S. climbed by 0.2% in August, in line with expectations. The overall producer price index increased a seasonally adjusted 0.7%, the biggest monthly gain since June 2022.
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