The domestic equity benchmarks ended near the flat line, with some positive bias on Monday. The Nifty closed above the 18,100 mark. Pharma, FMCG, healthcare and consumer durable stocks advanced while PSU banks and metal stocks edged lower.
As per provisional closing data, the barometer index, the S&P BSE Sensex, rose 32.02 points or 0.05% to 60,718.71. The Nifty 50 index gained 7.9 points or 0.04% at 18,110.60.
The broader market saw divergence. The S&P BSE Mid-Cap index added 0.41% while the S&P BSE Small-Cap index slipped 0.19%.
The market breadth was weak. On the BSE, 1306 shares rose and 2110 shares fell. A total of 160 shares were unchanged.
Economy:
India's inflation based on wholesale price index (WPI) stood at 12.54% in October 2021 compared with 1.31% in October 2020.
India's retail inflation rose marginally to 4.48% in the month of October from 4.35% in September, data released by the government showed on Friday.
Further, India's industrial production for the month of September grew by 3.1% as compared to 1% in the same month last year, according to the data released by ministry of statistics and programme implementation (MoSPI). IIP surged 11.9% in the month of August.
Primary Market:
The initial public offer (IPO) of Tarsons Products received bids for over 98.38 lakh shares as against 1.08 crore shares on offer on Monday (15 November 2021), according to stock exchange data at 15:36 IST. The issue was subscribed 91%.
The issue opened for bidding on 15 November 2021 and it will close on 17 November 2021. The price band of the IPO is fixed at Rs 635-662.
New Listing:
Shares of PB Fintech (Policybazaar) were currently trading at Rs 1201, a premium of 22.55% compared with the issue price of Rs 980. The scrip was listed at Rs 1150, a premium of 17.35% to the issue price.
So far, the scrip has hit a high of 1249 and a low of 1145 in the trading session. Over 12.90 lakh shares of the company changed hands in the counter on the BSE.
The initial public offer (IPO) of PB Fintech received was subscribed 16.58 times. PB Fintech, owner of Policybazaar and Paisabazaar platforms, is India's largest online platform for insurance and lending products leveraging the power of technology, data, and innovation.
Shares of SJS Enterprises were currently trading at Rs 511.80, a discount of 5.57% compared with the issue price of Rs 542. The scrip was listed at Rs 540, a discount of 0.37% to the issue price.
So far, the scrip has hit a high of 551 and a low of 505.50 in the trading session. Over 2.25 lakh shares of the company changed hands in the counter on the BSE.
The IPO of SJS Enterprises was subscribed 1.59 times. SJS enterprises is a design-to-delivery aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio for a wide range of customers primarily in the automotive and consumer appliance industries.
Shares of Sigachi Industries was frozen at the upper circuit of 5% at Rs 603.75, representing a premium of 270.40% compared with the issue price of Rs 163. The scrip was listed at Rs 575, a premium of 252.76% to the issue price.
It hit the day's low of 570.45 in early trade. Over 5.61 lakh shares of the company changed hands in the counter on the BSE.
The IPO of Sigachi Industries was subscribed 101.91 times. Sigachi Industries manufactures microcrystalline cellulose (MCC) of various grades ranging from 15 microns to 250 microns. The MCC has varied applications in the pharmaceutical, food, nutraceuticals, and the cosmetic industries.
Stocks in Spotlight:
Coal India slumped 4.34% to Rs 159.70. The company reported 0.38% fall in consolidated net profit to Rs 2936.91 crore on 8.25% rise in total income to Rs 24072.83 crore in Q2 FY22 over Q2 FY21.
ONGC advanced 2% to Rs 157.75. The company reported 328.81% surge in consolidated net profit to Rs 18055.01 crore on 43.78% rise in total income to Rs 123983.15 crore in Q2 FY22 over Q2 FY21.
Hero MotoCorp added 0.40% to Rs 2693.65. The company reported 22.2% fall in consolidated net profit to Rs 745.72 crore on 9.6% fall in total income to Rs 8696.80 crore in Q2 FY22 over Q2 FY21.
Grasim Industries shed 0.15% to Rs 1855.15. The company reported 40.66% rise in consolidated net profit to Rs 1359.19 crore on 25.23% rise in total income to Rs 22961.25 crore in Q2 FY22 over Q2 FY21.
Ashok Leyland added 4.40% to Rs 152. The company posted a consolidated net loss of Rs 103.43 crore in Q2 FY22 as against a consolidated net loss of Rs 122.95 crore registered in Q2 FY21. Total income rose 44.1% to Rs 5587.88 crore.
FSN E-Commerce Ventures (Nykaa) fell 3.13% to Rs 2285. Nykaa's consolidated net profit slumped 95.56% to Rs 1.2 crore on 46.62% increase in net sales to Rs 885.30 crore in Q2 September 2021 over Q2 September 2020. Revenue from operations grew 8% on sequential basis. Marketing support revenue grew by 68% YoY.
Shares of BSE jumped 5.02% to Rs 1,488.45. The exchange posted a 36.8% rise in consolidated net profit to Rs 63 crore in Q2 FY22 from Rs 46 crore posted in Q2 FY21. Revenue from operations increased by 50.4% to Rs 188.7 crore in Q2 FY22 from Rs 125.4 crore posted in Q2 FY21.
Apollo Hospitals Enterprise jumped 8.69% to Rs 5074.45. The company posted a 311% jump in consolidated net profit to Rs 247.8 crore in Q2 FY22 from Rs 60.27 crore posted in Q2 FY21. Consolidated net sales grew by 34.6% to Rs 3,717 crore in Q2 FY22 from Rs 2,760.72 crore posted in Q2 FY21.
Glenmark Pharmaceuticals gained 2.42% to Rs 536.30. The drug company posted a 10.1% increase in consolidated net profit to Rs 257.66 crore on a 7.5% rise in net sales to Rs 3,125.43 crore in Q2 FY22 over Q2 FY21.
Global Markets:
Shares in Europe and Asia advanced on Monday as investors reacted to a slew of Chinese economic data releases.
Data released Monday showed retail sales in China rose 4.9% year-on-year in October. China's Industrial output for the month also grew 3.5% compared to a year ago.
The Japanese economy contracted at an annualised rate of 3% in July-September from the previous quarter, government data showed on Monday, posting the first decline in two quarters as resurgent coronavirus infections hurt consumer spending.
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