Benchmarks trade with decent gains; auto stocks in demand

The key equity indices were trading with decent gains in morning trade. The Nifty was trading above the 17,200 mark. Auto stocks advanced for the second day in a row.

At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 382.87 points or 0.67% to 57,803.11. The Nifty 50 index added 115.35 points or 0.68% to 17,201.60 .

In the broader market, the S&P BSE Mid-Cap index gained 0.97% while the S&P BSE Small-Cap index rose 1.30%.

The market breadth was positive. On the BSE, 2500 shares rose and 605 shares fell. A total of 89 shares were unchanged.

New Listing:

Shares of Supriya Lifescience were currently trading at Rs 393.95 on the BSE, a premium of 43.78% as against the issue price of Rs 274.

The scrip was listed at Rs 425, representing a premium of 55.11% to the initial public offer (IPO) price.

So far, the scrip has hit a high of Rs 425 and a low of Rs 385. Over 7.33 lakh shares of the company have changed hands in the counter till now.

The IPO of Supriya Lifescience was subscribed 71.51 times. The issue opened for bidding on 16 December 2021 and it closed on 20 December 2021. The price band of the IPO was fixed at Rs 265-274 per share.

Buzzing Index:

The Nifty Auto index rose 0.75% to 10,721.30, advancing for second day. The index has gained 0.95% in two sessions.

Eicher Motors (up 1.33%), TVS Motor Company (up 1.26%), Tata Motors (up 1.22%), Mahindra & Mahindra (up 0.87%), Bharat Forge (up 0.70%), Ashok Leyland (up 0.57%), Maruti Suzuki (up 0.56%) and Hero MotoCorp (up 0.33%) advanced.

Stocks in Spotlight:

Siemens India rose 2.55% to Rs 2415.85. A joint venture between TRIL Urban Transport, a Tata Group company and Siemens Project Ventures GmbH (subsidiary of Siemens Financial Services) under Public Private Partnership Route (PPP) will develop the metro corridor from Hinjewadi to Shivajinagar. The Joint Venture has formed a special purpose company called Pune IT City Metro Rail. The order size of Siemens is around Rs 900 crore.

Som Distilleries jumped 6.08% to Rs 42.75. The company`s board has approved a proposal to raise up to Rs 17.50 crore by way of rights issue of equity shares at Rs 35 each.

GR Infraprojects was up 0.20% to Rs 1650.10. The company said that the Provisional Completion certificate has been issued by the Independent Engineer for "development of Purvanchal Expressway (Package-VII) from Mojrapur to Bijaura (Ghazipur) in Uttar Pradesh on EPC basis, and has declared the project fit for entry into commercial operation.

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