Live: Sensex, Nifty Advance; UTI AMC Lists At A 11% Discount

The rupee has begun the new trading week on a subdued note after ending last week with three straight days of gains.

The currency opened at 73.10 against the U.S. Dollar as compared to Friday's close of 73.13. It was the third worst performing currency in Asia last week.

Traders will look forward to Finance Minister Nirmala Sitharaman's press conference at 12:30 P.M. today, for any directional cues.

Yield on the 10-year government bond opened at 5.930% as compared to Friday's close of 5.939%.

Bond market measures announced by the RBI may lead to long-end bonds rallying more than shorter ones, according to a note from Trust Capital.

Traders will also be watching out for macro cues in the form of CPI and IIP data which will be released later this evening.

The most subscribed PSU IPO listed at a premium of nearly 50% on its stock market debut after investors piled into the share sale of the builder of warships, submarines and commercial vessels.

Shares began trading at Rs 214.9, which is a 48% premium to its issue price of Rs 145 per share. The shares than rose to as high as Rs 216.95 in the early minutes of trade. The IPO of Mazagaon dock was subscribed 157 times on the final day of bidding.

On the other hand, UTI AMC, which saw a subdued response to its IPO, listed at a 11% discount to its issue price of Rs 554 per share.

Shares began trading at Rs 490.25, post the IPO which saw full subscription only on the final day of bidding. The overall issue was subscribed over 2 times.

The Mumbai-based manufacturer of ABS and SAN resins reported a 10% growth in its standalone revenue for the July-September period to Rs 307.8 crore.

Net profit for the quarter rose 75% to Rs 35.3 crore while operating profit or Ebitda more than doubled to Rs 46.3 crore.

Ebitda margins saw expansion to 15.1% from 7.1% during the same period last year and were at their highest level in 11 quarters.

Shares fell as much as 7.1% - the most in over seven months to Rs 90.55. Ahead of today's session, the stock had gained 36% in the last seven trading session.

The drugmaker informed the exchanges over the weekend that its formulations facility in Jadcherla, Telangana has received a warning letter from the U.S. FDA.

The company's formulations business comprised of 21% of the total revenue for FY20, JM Financial wrote in a note.

However, the company said that the warning letter will not have a significant impact on the operations or the revenues from the concerned site.

This is the second instance of a Pharma company getting a warning letter from the U.S. FDA after Panacea Biotech received one for its Baddi facility on September 30.

Shares fell as much as 12% to Rs 480, to its lowest level in three months, before a slight recovery. The stock currently trades 7% lower at Rs 508.7, down for the third straight day.