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Domestic markets plunged as investors were spooked by concerns over the impact of surging Omicron cases across the world and global economic recovery triggering an intense sell-off. The Sensex closed 2.09% lower to 55822.01 and Nifty closed 2.18% lower to 16614.20.
Broad-based markets also slumped, tracking benchmark indices. Nifty 500 was down 2.54%, Nifty Midcap 100 tanked 3.68% and Nifty Smallcap 100 fell 4.04%.
All Nifty sectoral indices closed in the red. Top losers were Nifty Realty [-4.90%], PSU Bank [-4.48%], Metal [-3.78%], Bank [-3.31%] and Private Bank [-3.28%].
Indian rupee rose 18 paise to close at 75.91 against the US dollar on Monday.
Stock in News Today
Future Retail Ltd: Shares of the company jumped 20% in intraday trading and shares of other group companies also rose after an order by Competition Commission of India suspended the US e-commerce major Amazon’s investment in Future Coupons (FCPL), thereby putting a standby on the Amazon-Future Group deal. The CCI also slapped Rs 202 crore penalty on Amazon for suppressing information and failure to notify combination in terms of the obligation.
In addition, Future is also likely to approach various courts and tribunals including the Supreme Court, National Company Law Tribunal (NCLT) and the Singapore International Arbitration Centre (SIAC), bringing to their notice the latest order by the CCI.
Axis Bank: The private-sector lender said it will raise up to Rs 5,000 crore by issuing bonds. The bank said that it proposes to raise funds by issuing senior unsecured taxable redeemable non- convertible debentures of Rs 10 lakh each for cash at par with base issue size of Rs 2,000 crore and green-shoe option to retain over-subscription of Rs 3,000 crore thereby aggregating up to Rs 5,000 crore.
Bajaj Auto, Wipro: Shares of Bajaj Auto closed 2.33% lower after the two-wheeler company was removed from the 30-share S&P BSE Sensex with effect from today. The information technology (IT) company Wipro replaced Bajaj Auto in the 30-share benchmark index.
Shriram Properties Ltd: The realty firm had a dud stock market debut as its shares got listed at Rs 90, a 24 per cent discount to its issue price of Rs 118 per share on the National Stock Exchange (NSE). The stock opened at Rs 94, a 20 per cent lower against its issue price on BSE. The stock rose to a high of Rs 106.40 apiece on the NSE.
Adani Transmission Ltd: The company said that it has completed the construction of intra-state transmission lines of 897 circuit km. The transmission line, set up by the company’s ATL subsidiary Ghatampur Transmission Ltd (GTL) will connect Ghatampur thermal power station in Kanpur district to Hapur substation in western Uttar Pradesh.
TVS Motor Company: The two-wheeler maker said that it has partnered with location technology provider what3words to offer a seamless and accurate navigation experience to its two-wheeler customers. The company has integrated the technology of what3words into its customer app TVS Connect, which the users can share and navigate to any location using three simple words.
Ramkrishna Forgings Ltd: The company said that it will consider the sub-division of equity shares of face value of Rs 10 each on January 18, 2022, subject to approval of the members. The company in an exchange filing said that it will also consider the declaration of third interim dividend for the financial year 2021-22 and fix the record date.
ITI Ltd: The company received a work order from government of Tamil Nadu worth Rs 432.92 crore. The project is expected to be completed with one year that would be followed by operations and maintenance for three years from the date of ‘project go-live’. The scope of work involves planning, survey, supply, installation, commissioning, testing, end-to-end integration, operation & maintenance of Optical Fibre Network (OFN) and Electronics for Broadband connectivity under BharatNet Phase- II in Tamil Nadu.