Sensex, Nifty end flat post lackluster trade; Syrma soars 42%, Titan 3%
It was a range-bound trade on the bourses on Friday as investors awaited US Fed chief Jerome Powell’s address at the Jackson Hole Symposium later tonight. The S&P BSE Sensex traded between 58,723 and 59,321, and ended at 58,834, up 59 points or 0.1 per cent.
The NSE Nfty50, meanwhile, shut shop at 17,559, up 36 points or 0.21 per cent. It touched a high of 17,686 and a low of 17,519 on the NSE. In the broader markets, the Nifty MidCap 100 and the Nifty SmallCap 100 settled up to 0.7 per cent higher.
Among sectors, the Nifty Metal index rose 1.7 per cent, followed by the Nifty PSU Bank index, up 1 per cent. On the flipside, the Nifty Private bank index fell 0.3 per cent.
Shares of Syrma SGS Technologies (Syrma) soared 42.2 per cent to Rs 313 against its issue price of Rs 220 per share on debut on Friday. The stock of the industrial electronics company listed at Rs 262, a 19 per cent premium when compared to its issue price on the BSE. On NSE, the stock started trading at Rs 260.
The Rs 562-crore IPO of DreamFolks received a bumper response from investors on the last day of the issue. The offer was subscribed nearly 53 times till 3:30 PM with retail investors’ quota at 42x subscription, NII at 37.5 times, and QIB at 64 times.
NTPC surged 3% as the company approved Rs 11,844 cr investment for Talcher Thermal plant. According to a release issued by the company to the BSE, its board accorded investment approval for Talcher Thermal Power Project, Stage-III (2×660 MW) at an appraised current estimated cost of Rs 11,843.75 crore.
Shares of Nelco were locked at the 10 per cent upper circuit, at Rs 856.65 on the BSE on Friday, after the company partnered with Intelsat to offer inflight connectivity in India.
Shares of Surya Roshni hit 20% upper circuit on a healthy business outlook. As the company’s major sales come from rural, semi-urban & exports; Going forward, the management expects home appliances and pipe segments to perform well back by various government initiatives.
Shares of Eicher Motors sank 3% as CFO Arunachalam tendered his resignation. Arunachalam’s resignation from the automobile major follows a series of management exits from the company over the last few years.
Titan hit over 4-month high on expansion plans as the stock zoomed 11% in 1 month. As per media reports, Titan is planning to take its jewelry brand Tanishq to the US and other West Asian markets as part of its long-term strategy to tap into the demand from large Indian diaspora and Non-Indian Resident (NRIs) communities.
Here are some picks from the week gone by.
