Share Market: Strong opening of the stock market, Sensex 54,400 and Nifty cross 16300

Share Market Live: The stock market started today with an edge. BSE’s 30-stock key sensitive index Sensex opened at 54,385.71 with a jump of 107.99 points on Monday. At the same time, the Nifty of the National Stock Exchange also opened with an increase at the level of 16,281.35. In early trade, the Sensex was trading at 54,482.30 with a gain of 204.58 points, while the Nifty was up 64.10 points at 16,302.30. Tech Mahindra, HCLTech, Infosys, Wipro and UltraTech were the top gainers in Nifty. On the other hand, ONGC, Hindalco, Tata Consumer, Reliance and Bajaj Finance had shares in the loser.

Capitalization of nine companies increased

The market capitalization (market cap) of nine of the top 10 Sensex companies increased by Rs 2,22,591.01 crore last week. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and HDFC were the top gainers. All other companies in the top 10 list except Bajaj Finance, Reliance Industries, TCS, HDFC Bank, Infosys, Hindustan Unilever Ltd., ICICI Bank, HDFC, State Bank of India (SBI) and Kotak Mahindra Bank increased their market capitalization in the week under review. Reliance Industries retained the first position among the top 10 companies. It was followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, HDFC, SBI, Bajaj Finance and Kotak Mahindra Bank respectively.

IPO of four companies will open, eyes on raising Rs 14,628 crore

Amidst the boom in the IPO market, four companies are going to bring their IPO next week to raise a total amount of more than Rs 14,628 crore. Devyani International, Krishna Diagnostics, Windlass Biotech and Exaro Tiles had launched their initial share sale last week to raise Rs 3,614 crore.

So far in the current financial year, 16 companies have raised Rs 30,666 crore through IPOs, as against 30 companies that raised Rs 31,277 crore through IPOs in the previous financial year. Market analysts expect the IPO market to remain bullish throughout 2021-22. Hemang Kapasi, head of equities at Sanctum Wealth Management, said 40 IPOs are in line for the rest of the year to raise Rs 70,000 crore.

According to the information available with the stock exchanges, Nirma Group companies Nuvoco Vistas Corporation and Cartrade Tech will start their initial share sale on Monday. The same Aptus Value Housing Finance and Chemplast Sanmar will receive bids for public applications on Tuesday. Companies are actually raising money for debt servicing, capital expenditure requirements and general corporate purposes. Apart from this, the existing shareholders are selling their stake in the companies under the IPO.

The IPO of cement maker Nuvoco Vistas includes an offer for fresh issue of shares worth Rs 1,500 crore. There is also an offer for sale of Rs 3,500 crore by promoter Niyogi Enterprises. The company will open the process of application for this on August 9 at a price of Rs 560-570 per share, which will end on August 11.

In addition, the IPO of Cartrade will consist of an offer for sale (OFS) of 18,532,216 equity shares in total. For this, the company will open an IPO between August 9 and 11 at a price of Rs 1,585-1,618. The IPO of Aptus Value Housing Finance includes fresh issue of equity shares worth Rs 500 crore and offer for sale of 64,590,695 equity shares by promoters and existing shareholders. The company will open its IPO from August 10 to 12 at a price of Rs 346-353.

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