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Market Analysis 14-05-2021
Sensex ends flats, Nifty below 14,700 in seesaw trade; Asian Paints up 8%, RIL gains. Asian Paints was the best performing stock, rising up to 11 per cent intraday. Barring Nifty FMCG index, all the sectoral indices ended in the red. Nifty Metal declined 3.76 per cent, Nifty Auto and Nifty PSU Bank indices fell 2.03 per cent, each. While Nifty FMCG index gained 2.13 per cent
Top Stories of the day:
Go Air: Go Airlines has filed a Draft Red herring Prospectus with capital markets regulator SEBI to launch an IPO (initial public offering) worth Rs 3,600 crore. The Wadia group-owned airline company in consultation with its lead managers will issue shares through a preferential issue or any other method to raise up to Rs 1,500 crore. Ahead of Go Airlines IPO, India’s ultra-low-cost airline has rebranded itself as ‘Go First’.
PowerGrid: PowerGrid Infrastructure Investment Trust (InvIT) shares made a debut at Rs 104 per share, up 4 per cent from the issue price of Rs 100 per unit. PowerGrid InvIT had a market capitalization of Rs 9,463.99 crore on the listing. This is the first Infrastructure Investment Trust (InvIT) in the country to be floated by a public sector company. PowerGrid InvIT issue was subscribed 4.83 times on the last day of the subscription
Zydus Cadila: Cyril Amarchand Mangaldas advised Zydus Cadila on sale of its India-focussed animal healthcare business to Zenex Animal Health India Private Limited (Zenex), which is a special purpose vehicle set up by Multiples led consortium of investors, for INR 2921 crores on a cash-free debt-free basis
Closing bell:
Asian Paints was the top Sensex gainer, followed by gains in ITC, Nestle India, L&T, Hindustan Unilever Ltd, Reliance Industries Ltd (RIL), Power Grid Corporation of India, among others. On the flip side, IndusInd Bank, Mahindra & Mahindra, Dr Reddy’s Laboratories, State Bank of India (SBI), NTPC, ONGC, Sun Pharma and Maruti Suzuki were among the top index laggards.