Tata Steel and Ultratech Cement are the top gainers on BSE Sensex. Axis Bank and Asian Paints are among top losers.
Follow Stock Market Live Updates Here:
Tata Steel and Ultratech Cement are the top gainers on BSE Sensex. Axis Bank and Asian Paints are among top losers.
Shares of Nazara Technologies witnessed a sharp spike on Monday to touch 52-week high level. The stock surged over 12 per cent to hit Rs 854 per share on the NSE. The rally came after the company board approved to issue equity shares worth Rs 100 crore to Zerodha’s founders Nikhil and Nithin Kamath. With the latest investment Nikhil’s stake in the company increased to 3.5 per cent from 1 per cent.
The initial public offering (IPO) of Ratnaveer Precision opened for public subscription on Monday, 4 September, and will close on Wednesday, 6 September.
As of 1:20 PM on the first day of the bidding, the book build issue has been oversubscribed 2.75 times on the back of strong demand from retail and high-net worth investors. The retail portion of the IPO has been oversubscribed 4.01 times, and the NII (Non-Institutional Investor) category has seen a subscription of 3.48 times. However, there have been no bids from qualified institutional buyers so far.
Shares of Indian Railway Finance Corporation Ltd (IRFC Ltd) continued to rally for the sixth straight session on Monday. The stock surged 20 per cent to hit its news 52-week high of Rs 66.90 on the NSE. Over 30 crore shares were traded at the stock exchanges by mid-day. The mutibagger stock has surged 100.9 per cent year-to-date and 200 per cent in last one year.
Indian equity benchmark BSE Sensex gained 274.06 points or 0.42 per cent to close at 65,661.22. The NSE Nifty ended 102.15 points or 0.53 per cent higher at 19,537.45.
From the Sensex pack, Wipro, HCL Tech, Ultratech Cement, Tata Steel, and Tech Mahindra were the top gainers, while Mahindra & Mahindra, Axis Bank, ITC, Asian Paint, and Nestle India were among the losers.