Stock Market Live: The stock market began today with an edge. The 30-stocks key index of the BSE, the Sensex, opened 107.99 points higher on Monday at 54,385.71. At the same time, the Nifty of the National Stock Exchange also opened at 16,281.35. In the early trade, the Sensex was trading at Rs 54,482.30 with a rise of 204.58 points, while the Nifty was up 64.10 points at 16,302.30. Tech Mahindra, HCLTech, Infosys, Wipro and UltraTech are top giants in the Nifty. On the other hand, ONGC, Hindalco, Tata Consumer, Reliance and Bajaj Finance had stakes in losses.
The capitalization of the nine companies increased
Nine of the top 10 Sensex companies had market capitalization (market cap) of Rs 2,22,591.01 crore last week. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and HDFC Top Gainer. All the top 10 listed companies except Bajaj Finance, Reliance Industries, TCS, HDFC Bank, Infosys, Hindustan Unilever Limited, ICICI Bank, HDFC, State Bank of India (SBI) and Kotak Mahindra Bank have increased their market capitalization during the week. Reliance Industries tops the top 10 companies. After that, TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, HDFC, SBI, Bajaj Finance and Kotak Mahindra Bank respectively.
The IPOs of four companies will open at Rs 14,628 crore
Amid the boom in the IPO market, four companies are set to raise their IPO next week to raise more than Rs 14,628 crore. Devayani International, Krishna Diagnostics, Windlass Biotech and Exaro Tiles opened their initial share sale last week at Rs 3,614 crore.
So far in the current financial year, 16 companies have raised Rs 30,666 crore through IPOs, compared to 30 companies that raised Rs 31,277 crore through IPOs in the previous financial year. Market analysts expect that the IPO market will remain bullish throughout 2021-22. Hemang Kapasi, head of equities at Santum Wealth Management, said 40,000 IPOs were in line for the remainder of the year to raise Rs 70,000 crore.
According to information available on the stock exchanges, Nirma Group companies Nuoco Vistas Corporation and Cartrade Tech will begin their initial share sale on Monday. The same Optus Value Housing Finance and Chemplast Sanmar accept bids for public applications on Tuesday. Companies are raising money for debt service, capital expenditure requirements and general corporate purposes. In addition, under the IPO, existing shareholders are selling their stake in companies.
Cement maker Nuoco Vistas’ IPO comprises a new offering of Rs 1,500 crore. There is also a sales offer of Rs 3,500 crore from a corporate promoter. The company will open its application process on August 9th at a price of Rs 560-570 per share, ending on August 11th.
In addition, Cartrade’s IPO includes a total of 18,532,216 Equity Shares Offer for Sale (OFS). For this, the company will open its IPO between August 9 and 11 for Rs 1,585-1,618. Optus Value Housing Finance’s IPO is Rs. The new issue of equity shares worth Rs 500 crore and offers to sell 64,590,695 equity shares from promoters and existing shareholders. The company will open its IPO from August 10-12 at a price of Rs 346-353.