Sensex adds 138 points; Zomato ends 65% up over issue price at Rs 126 on BSE
After a volatile start, benchmark indices swiftly rose in noon deals to end near the day’s high level on Friday. ICICI Bank and ITC (up 3 per cent each), followed by Axis Bank, Kotak Bank, SBI, and HCL Tech were the top contributors towards the indices’ rally.
At close, the S&P BSE Sensex quoted at 52,976 levels, up 138.5 points, or 0.26 per cent. The broader Nifty50, meanwhile, settled above the psychological level of 15,850 at 15,856, up 32 points or 0.2 per cent. The BSE MidCap and SmallCap indices, however, underperformed the benchmarks with the former slipping 0.07 per cent while the latter added 0.11 per cent.
Shares of ITC moved higher by 3 per cent at Rs 213.60 on the BSE in the intra-day trade on Friday, on back of heavy volumes, ahead of its April-June quarter (Q1FY22) earnings on Saturday, July 24. In comparison, the S&P BSE Sensex was up 0.39 per cent at 53,041 levels at 02:20 pm. Trading volumes on the counter more-than-doubled with a combined 36 million equity shares having changed hands on the NSE and BSE till the time of writing of this report.
Shares of Schaeffler India rallied 11 per cent to Rs 6,489 on the BSE in intra-day trade on Friday, surging 20 per cent in the past two trading days, after the company reported a profit after tax (PAT) of Rs 128 crore in the June quarter (Q2FY21). The company, a leading industrial and automotive supplier, had posted a loss of Rs 42.5 crore in Q2FY20. In the previous quarter, it had posted a profit of Rs 139.5 crore.
Shares of Mahindra Lifespace Developers zoomed 19 per cent to Rs 793.10 on the BSE in intra-day trade on Friday after the company announced that its board will consider maiden bonus issue in their forthcoming meeting on Wednesday, July 28, 2021. The share price of the real estate and infrastructure development company of Mahindra Group hit a 52-week high. The scrip has rallied 33 per cent in the past one month as against a rise of 1 per cent in the S&P BSE Sensex during the same period.
Shares of telecom operators Vodafone Idea (VIL) and Bharti Airtel came under selling pressure, falling by up to 15 per cent on the BSE in intra-day trade on Friday, after the Supreme Court (SC) dismissed the application of telecom companies that sought recomputation Adjusted Gross Revenue (AGR) dues demanded by the Department of Telecommunication (DoT).
Zomato listed 53% higher on NSE as its market-cap crosses Rs 1-trillion mark. Post listing, the stock hit the upper circuit of 20 per cent at Rs 138, up 82 per cent compared to its issue price on the BSE. A strong listing saw Zomato’s market capitalisation (market-cap) cross the Rs 1 trillion mark and entered into top 50 most valuable companies on the BSE. At 10:12 am; Zomato stood at 38th position in market-cap rankings on the BSE.
Shares of Mphasis rallied 12 per cent to hit a new high of Rs 2,692.35 on the BSE in intra-day trade on Friday after the company reported a healthy set of June quarter (Q1FY22) numbers. The company is an Information Technology (IT) solutions provider specialising in cloud and cognitive services.
Here are some picks from the week gone by.
