Money on the markets
A maturing market amid the mayhem
Over the past two sessions, ARSS Infrastructure Projects Ltd rose over 80 percent from its issue price of 450 rupees per share.
Shares in the counter ended 10.6 percent higher at 814.65 rupees with volumes of 8.5 million shares on Thursday.
The construction firm listed on BSE on Wednesday at 650 rupees, nearly 45 percent higher than its issue price and ended with volumes of 11.5 million shares.
The firm is raising 1.03 billion rupees through the IPO which closed on Feb 11. The proceeds would be used for working capital, both for the company’s existing and new projects.
The BSE Auto index gained over 4 percent on Tuesday in a broader market that ended 2.09 percent higher at 16,772.
The rise in the BSE Auto index was led by MRF, BOSCH, Tata Motors and M&M.
Shares in Tata Motors rallied more than 12 percent on Tuesday afternoon as investors cheered strong sales growth in February. Shares in the counter ended at 797 rupees.
The BSE Realty Index dropped for a third straight day on Friday, shedding 3.3 percent in a broader market that ended 0.83 percent down.
Indiabulls Real Estate slipped 6.2 percent and was the top sectoral loser, while DLF and Unitech lost 4.1 percent and 1.4 percent respectively.
Export-focused software stocks did well on Tuesday, helping boost the BSE IT Index 2.5 percent to its second straight day of gains.
The broader market ended 0.6 percent up with financials being among the losers.
Sensex heavyweights Infosys, Tata Consultancy Services and Wipro rose 2.9 percent, 1.4 percent and 2.4 percent respectively.
The BSE Oil & Gas Index dropped 3.4 percent on Friday in a broader market that fell 2.7 percent to its lowest close in three months.
Reliance Industries led the Oil & Gas Index fall with a 3.7 percent drop.
According to CNBC TV18’s business channel, the energy major has submitted a $2 billion expression of interest for private Canadian firm Value Creation Inc, which holds oil sands assets. Reliance fell to 981.30 rupees, its lowest close in three months.
The BSE Realty Index slumped 3.8 percent on Thursday in a broader market that was weighed down by weak global cues.
The Realty Index was the top sectoral loser on the BSE, with all components except Mahindra Lifespace, ending in the red. Sobha Developers dropped 5.6 percent.
Shares in Titan Industries rose to a lifetime high on Monday. The company announced its quarterly results on January 30 with a net profit of 754.3 million rupees, up nearly 500 percent from a year ago.
Its shares ended 13.6 percent higher at 1,703 rupees with volumes of 0.14 million shares. BSE Consumer Durable Index ended 5.7 percent higher.