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Indices off day's low; Heranba Industries lists at 43% premium

·3-min read

Key equity barometers pared early losses in morning trade. Resurgent worries about rising US bond yields hit global shares. The Nifty reclaimed the crucial 15,000 mark after slipping below that level in initial trade. Barring the Nifty Media index, all sectoral indices on the NSE were trading in the red.

At 10:29 IST, the barometer index, the S&P BSE Sensex, was down 227.41 points or 0.45% at 50,618.20. The Nifty 50 index fell 68.05 points or 0.45% at 15,012.60.

In broader market, the S&P BSE Mid-Cap index was down 0.56% while the S&P BSE Small-Cap index was up 0.02%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1312 shares rose and 1166 shares fell. A total of 145 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 115,597,805 with 25,69,011 deaths. India reported 176,319 active cases of COVID-19 infection and 157,548 deaths while 108,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

New Listing:

Shares of Heranba Industries were currently trading at Rs 878 per share at 10:27 IST on the BSE, at a premium of 40.03% as compared to the issue of Rs 627 apiece. The stock was listed at Rs 900, a premium of 43.54% to the initial public offer (IPO) price. So far, the stock hit a high of Rs 944.95 and low of 860.10. On the BSE, 9.06 lakh shares were traded on the counter so far. The initial public offer (IPO) of Heranba Industries The issue was subscribed 83.29 times. The issue opened for bidding on 23 February 2021 and closed on 25 February 2021. The price band for the IPO was set at Rs 626-627 per share.

Buzzing Index:

The Nifty PSU Bank slipped 1.8% to 2,392.85, falling for second trading session. The index lost 2.34% in two days.

Canara Bank (down 3.4%), Bank of Baroda (down 2.2%), Punjab National Bank (down 1.95%), SBI (down 1.8%), J&K Bank (down 1.8%), Indian Bank (down 0.7%) and Bank of India (down 0.56%) were top losers in PSU Bank segment.

Stocks in Spotlight:

Dilip Buildcon fell 1.44%. The road construction company received the letter of acceptance (LoA) on 4 March for two projects worth Rs 2,439 crore from the National Highways Authority of India (NHAI) on Hybrid Annuity basis in Karnataka.

BCPL Railway Infrastructure spurted 2.50% to Rs 81.85 after the company received a Letter of Acceptance (LOA) from Railway Vikas Nigam (RVNL).It is expected to be executed over a period of 45 days. The recent order adds to the strong orderbook position for the company of around Rs 165 crore.



Source: Capitalmarket.com