On sectoral front, Bank Nifty fell nearly half a per cent, while Nifty Metal index gained over 1 per cent.Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty ended near flatline on Friday, after hitting record high levels in intraday deals. The 30-share Sensex settled at 53,140, down 19 points or 0.04 per cemt. While the broader Nifty 50 index ended the day 0.80 points or 0.01 per cent lower at 15,923. Bharti Airtel, Ultratech Cement, Tata Steel, Power Grid Corporation of India, Reliance Industries Ltd (RIL), ITC, Sun Pharma, Larsen & Toubro, HDFC Bank were among top index gainers. On the flip side, HCL Tech, Infosys, Bajaj Finsv, NTPC, ICICI Bank, IndusInd Bank were among top laggards. On sectoral front, Bank Nifty fell nearly half a per cent, while Nifty Metal index gained over 1 per cent. Nifty Pharma index was up 1.2 per cent.
Highlights
BSE Sensex settled at 53,140, down 19 points or 0.04%. While the broader Nifty 50 index ended the day 0.80 points or 0.01 per cent lower at 15,923.
Paytm has filed DRHP with SEBI to raise Rs16,600 crores through initial public offer (IPO), which will be the biggest IPO in India’s stock market history. In 2010 Coal India IPO was the biggest IPO in India with IPO size of Rs 15200 crores and in 2008 RPower with the IPO size of Rs 11700 was the 2nd biggest IPO. Paytm parent company One97 Communication filed DRHP with SEBI today. The company will issue fresh issues of Rs 8300 crore and offer for sale of Rs 8,300 crores by its shareholders. In the unlisted market, shares of Paytm are in high demand, the company share price has increased from Rs 1,000 before the news of IPO to Rs 2,500 as per the market reports. We have a positive outlook for the Paytm IPO. Yash Gupta Equity Research Associate, Angel Broking
LIC’s (Life Insurance Corporation) mega initial public offer, may not just be an offer for sale (OFS) of the Government of India’s stake, but could also include a fresh issue of equity shares by the insurance major. The department of investment and public asset management (DIPAM) on Thursday issued a request for proposal for bankers, registrars, and legal advisors to the issue stating that the listing of shares of the LIC on stock exchanges would entail part-sale of the Government’s stake in LIC and raising for fresh equity share capital. LIC’s IPO is expected to be the biggest such issue to hit Dalal Street ever.
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Rakesh Jhunjhunwala has raised stake in Edelweiss Financial Services in April-June quarter of 2021. The ace investor has increased his stake in the company to 1.61 per cent from 1.19 per cent stake that he held at the end of March 2021 quarter. Rakesh Jhunjhunwala has bought 40 lakh shares or 0.42 per cent stake in the financial firm.
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With more houses being sold in the first half of this year, Mumbai and Pune accounted for the majority of housing sales. Both markets together accounted for 45 per cent of the overall houses sold during the months January to June 2021. Of 99,416 residential properties purchased, 28,607 houses were sold in Mumbai whereas 17,474 houses were bought by people in Pune in the last six months, data by Knight Frank India Research showed. According to the report, the residential market witnessed a surge in sales on the back of the Maharashtra government’s decision to lower the stamp duty for a limited period.
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The company boasts of some strengths which are as follows: only commercial manufacturer of SDAs for zeolites in India, second-largest globally & the leading producer of Phase Transfer Catalysts. Both of the above account for 67% of their revenue in FY21 & should increase going forward given the chemistry moats that they possess (it's especially rare that a chemical company exports to China) & as further capacity gets utilized. The Post IPO market capitalization of the company of 2400crs (at the upper band) translates to 8x Price to sales, 33x Price to EBITDA & 45.9x Price to Earnings. The company has a huge working capital requirement to scale up its business. Aditya Kondawar, Founder, COO, JST Investments
Shares of IT major Wipro on Friday gained over 2 per cent in early trade after the company posted a 35.6 per cent jump in June quarter consolidated net profit and exuded confidence in logging double-digit revenue growth in FY22. The stock jumped 2.30 per cent to Rs 589 on the BSE in early trade. But, as the trade progressed the stock erased its early gains and was trading lower by 0.45 per cent at Rs 573.15.
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NSE Nifty 50 index is eyeing 16,000 points target in the current week to 22 July options expiry. The options data suggested the highest call OI at 16,000 strike, followed by 15,900 strike. Analysts expect Nifty to expire between 15,900-16,000 this week. While Bank Nifty is likely to trade in the 35,600-36,000 range. So far this week, Nifty has added over 1 per cent to today’s high of 15,962.25.
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Paytm, digital payments and financial services firm has filed draft red herring prospectus (DRHP) with market regulator SEBI, to launch Rs 16,600-crore IPO. The public issue will comprise fresh issue of equity shares worth Rs 8,300 crore and an offer-for-sale (OFS) of shares to the tune of Rs 8,300 crore. The price band for the Paytm IPO will be determined either at the time of filing the red herring prospectus (RHP) or prior to the IPO opening for the subscription.
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Paytm, digital payments and financial services firm has filed draft red herring prospectus (DRHP) with market regulator SEBI, to launch Rs 16,600-crore IPO. The public issue will comprise fresh issue of equity shares worth Rs 8,300 crore and an offer-for-sale (OFS) of shares worth Rs 8,300 crore.
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Zomato’s Rs 9,375-crore initial public offering (IPO) has been subscribed 5.27 times on the third and final day of bidding. The mega public issue of the food-tech unicorn has seen a rousing response from investors with Qualified Institutional Buyers (QIB) and Retail investors having oversubscribed their quota. Zomato’s IPO is the first domestic internet unicorn to attempt to make its stock market debut. The public issue is the largest to hit Dalal Street since SBI Cards and Payment Services' IPO in March 2020 just ahead of the market crash.
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Due to urbanization, increase in choice, and convenience, there is a massive growth opportunity for Zomota in the coming years. At the higher end of the price band, Zomato IPO is roughly priced at a Mcap/ Sales of 28 times (based on FY21 data). This is much higher than its global peers DoorDash and DeliveryHero. As the online delivery space remains under-penetrated, Zomato is expected to command a higher valuation in India (scarcity premium). However, investors looking to invest should bear in mind that it is a loss-making company and the company has clearly indicated that it will continue to report losses over the medium-term. Given the company’s market leadership status, strong topline growth, robust outlook, and positive sentiment due to marquee investors, investors who wish to take exposure to an under-penetrated online delivery industry could consider investing in this issue," SEBI-registered investment advisor INDmoney said in a report.
Gold Price Outlook, Gold Price Forecast: Gold prices in India were set for fourth straight weekly gain on Friday, mirroring the international trends. MCX gold has added nearly 4 per cent in the last four weeks. On Multi Commodity Exchange, gold August futures were trading Rs 33 down at Rs 48,367 per 10 grams, as against the previous close of Rs 48,400. So far this week, it has gained one per cent. Silver September futures were ruling at Rs 69,842 per kg, up Rs 161 or 0.23 per cent.
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Tatva Chintan Pharma Chem has managed to raise Rs 150 crore from anchor investors ahead of its initial public offering (IPO). Marquee domestic and global names such as Goldman Sachs, HSBC Global, Nomura, SBI, HDFC and ICICI Prudential are some of the investors who have picked up a stake in the company through the anchor book portion. The Rs 500-crore IPO of Tatva Chintan Pharma will open for subscription today. Specialty chemicals maker Tatva Chintan is looking to raise Rs 225 crore through a fresh issue of shares, while the remaining Rs 275 crore will be an offer for sale (OFS).
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Despite dollar remaining on back foot and inflows on account of various IPO’s and QIP’s, rupee could not manage to break the 74.40 crucial support level yesterday. If the BIG-bull continues to play its part to curb volatility downside, any dips in the USDINR pair would be taken for buying by importers, and while for exporters, it would remain sideways to sell. That apart, a second purchase of government bonds worth Rs 20,000 crores under the G-sec Acquisition Programme (G-SAP 2.0) could keep the rupee under pressure. So far, the rupee had been supported by the inflows pertaining to IPO’s. If inflows get standstill, a depreciation pressure resides on rupee and can take it towards 75.20-75.50 levels in the upcoming time. Amit Pabari, managing director, CR Forex Advisors
IRCTC share price hit an all-time high of Rs 2,309.45 apiece on BSE on Friday. The stock opened at Rs 2,271. So far in the session, it has touched a low of Rs 2,268.
Wipro hit a fresh record high of Rs 589, surging 1.4 per cent, on BSE in Friday's session, a day after the IT company announced Q1 results
Trend in Nifty sectoral indices was mixed. Nifty Bank index was down 0.20 per cent, and Nifty IT was flat with a negative bias. Nifty Pharma, however, was up nearly one per cent and Nifty Metal index gained half a per cent
Larsen & Toubro, Infosys, ICICI Bank, IndusInd Bank, Axis Bank, HCL Tech, Tech Mahindra, Maruti were top index draggers
ITC, Asian Paints, RIL, Sun Pharma, Bharti Airtel, Power Grid Corporation of India, Tata Steel, HDFC were among top index gainers
BSE Sensex surged to a fresh peak high of 53,290, while Nifty 50 rose to a new all-time high of 15,562 on Friday
BSE Sensex back above 53,000 in pre-open, while Nifty 50 was trading at 15,950 on Friday
There were several attempts made in last month or so to go pass the level of 15910; but every time markets were struggling to do this. Today, finally this level is breached and that too on a closing basis, bodes well for the bulls. BANKNIFTY managed to traverse 35810, which led to a breakout beyond 15910 for Nifty. The way we closed on Thursday, 16000 is merely a formality now. If there is no aberration on the global front, we are likely to continue this optimism. So let’s keep our fingers crossed and hope to reach the milestone in the forthcoming session only. As far as supports are concerned, 15900 followed by 15850 are to be seen as immediate levels. For the forthcoming session, keep your eyes on the psychological level of 36000 for BANKNIFTY. The moment we stay beyond it, banking could easily start leading from the front. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking)
Equity market is cheering positive macro data points both on global and domestic front which is giving confidence to the investors of economic rebound. Market so far had been showing strong resilience even though it faced several headwinds. Q1FY22 earnings season has started off on a strong note and is providing support to the market. Since restrictions this time around was localized and less stringent v/s the lockdown in CY20, the impact in 1QFY22 seems to be contained. We expect earnings momentum to accelerate in FY22 as the pace of vaccinations picks up and the economy opens up further. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Domestic equities look to be modestly good as of now. Notably, dovish remark of Federal Reserve Chairman Powell in his testimony despite surge in inflation should offer comfort to global equities including India. Apparently, benchmark Nifty, which was consolidating in the range of 15,600-15,900 for last couple of weeks, is set to cross 16,000 levels shortly. In our view, higher crude prices, spread of delta plus variant globally and weakening INR could be a near risk for markets. However, we continue to believe that the underlying strength of market remains intact and therefore any meaningful correction in the market should be taken as an opportunity to get in quality stocks. Binod Modi, Head Strategy at Reliance Securities
IPOs of New age companies in Indian Market can attract global investors who have burnt their hands in Chinese New Age Cos ( Chinese new age cos have lost $ 800 billion market cap from top ). New age companies' successful listing can re-rate many existing companies which can pull market higher from current level. Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Company
BSE-listed companies such as HDFC Asset Management Company, Den Networks, GNA Axles, Just Dial, L&T Finance Holdings, Maximaa Systems, Starlog Enterprises, and Visagar Polytex will announce April-June quarter earnings on July 16.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel were left unchanged at record highs on Friday by oil marketing companies. Petrol in the national capital now costs Rs 101.54 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 40 times since May 4 and nine times this month. The price of petrol in Delhi has increased by Rs 10.85, while diesel price has surged Rs 10.80 per litre since the rates started increasing. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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Tatva Chintan Pharma Chem will launch its Rs 500-crore IPO at a price band of Rs 1073-1083 per share. The issue will open on July 16 and close on July 20, 2021. The public issue comprises fresh issue of shares worth Rs 225 crore and offer-for-sale (OFS) worth Rs 275 crore by existing promoters and shareholders. Investors can bid for a minimum of 13 equity shares and in multiples thereof.
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In overnight trade, US stock indices ended mostly lower. The Dow Jones Industrial Average index gained 0.2 per cent, while S&P 500 and Nasdaq Composite fell
Asian stock markets were trading mostly lower on Friday, head of Bank of Japan’s monetary policy statement. Japan’s Nikkei 225 fell nearly one per cent while the Topix index was down marginally. South Korea’s Kospi lost over half a per cent.
Broader markets continued to march higher on Thursday, setting fresh all-time highs on the weekly F&O expiry session. S&P BSE Sensex closed 0.48% higher at 53,158 points while the Nifty 50 index jumped 0.44% to end at 15,924. Broader markets participated in the rally with smallcap indices outperforming the benchmarks. Ahead of the last trading session of the week, SGX Nifty was up in the green, hinting at positive momentum ahead of the opening bell.
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