Live: Sensex, Nifty Flat; Mindspace REIT Lists At 10% Premium
New Listing: Mindspace Business Parks REIT
Mindspace Business Parks listed its units on the bourses at Rs 302 per unit - a 9.8% premium to its issue price of Rs 275 per share.
The company's Rs 4,500 crore IPO was subscribed 13 times on the final day of bidding.
Institutional subscription stood at 10.65 times while the retail portion was subscribed 10.65 times.
Money Market Update
The currency has opened with losses in today's session after ending unchanged on Thursday.
The rupee opened at 75.06 against the U.S. Dollar as compared to Thursday's close of 74.93.
Traders will look forward to weekly data on forex and bank credit released by the Reserve Bank of India.
Within the bond markets, traders will focus on the sale of Rs 30,000 crore in government bonds.
The RBI's decision to allow banks to consider Mutual Fund holdings as equivalent to debt in terms of capital charge for market risks can aid bonds, according to Murthy Nagarajan of Tata Mutual Fund.
Coronavirus India Updates
- India reports largest spike in new Covid-19 cases
- India now has 2 million confirmed Covid-19 cases
- 62,538 new cases reported over the last 24 hours
- First instance of over 60,000 new cases been reported in India
- Active cases now at 6,07,384
- Patients cured / discharged / migrated at 13,78,105
- Death toll rises to 41,585
- 886 deaths reported over the last 24 hours
- 49,769 patients recovered in the last 24 hours
Stock Reaction: Steel Strips Wheels
The company has informed the exchanges of securing export orders for close to 20,000 wheels for the Caravan Trailer Market in the European Union.
The order is valued at 1.38 lakh Euros, according to the company's exchange filing.
The order will be executed from the company's Chennai plant in the month of September.
Shares gained as much as 2% to Rs 431.65, post the announcement.
Stock Reaction: Prince Pipes & Fittings
The company has announced a technical collaboration with Tooling Holland - a plastic mould manufacturing company.
The association will strengthen the company's technical competence and enhance operational efficiencies, as per the exchange filing.
"This alliance provides great impetus to our growth plans and our firm commitment to build and offer superior products, aligned to global standards and at competitive costs," Prince Pipes' Executive Director Parag Chheda said post the announcement.
Shares gained as much as 14.8% - the most on record to Rs 140.5. The stock trades at the highest level in five months and is up for the fifth straight day.