BW Communities

D-Street Remains Flat; Zomato, Chemplast Ready to Float IPOs

Ruchit Purohit Jul 06, 2021

The Indian equity markets mostly traded flat after opening with minimal gains. The banking stocks, however, continued their rally with shares of AU Small Finance surging over eight per cent in the morning trade on Tuesday, July 6 after rating firms retained their overweight call on the stock.

The BSE Sensex was up 76 points at 52,956.01 with advances in 13 scrips out of the 30-share pack. The Nifty-50 index was also trading marginally higher by 32.75 points at 15,867.10 at the time of filing. Shares of UltraTech Cement surged over three per cent, while those of HDFC Bank, Titan Company, and IndusInd Bank gained over a per cent each in the morning trade.

The broader markets continued to shine as both BSE Midcap and Smallcap indices marched up nearly a per cent each. In the Midcap space, shares of the Adani group bagged the top gainers gaining over five per cent each.

In the overall market performance, nearly 1179 shares advanced, and 555 shares declined in the morning trade on the NSE.

Fund Tracker

As per the provisional data available on exchanges, Foreign Institutional Investors net sold shares of Rs 338.43 crore and the Domestic Institutional Investors net purchased shares worth Rs 645.59 crore in the equity markets on Monday, July 5. Market experts are however bullish with the future aspects as the FIIs have turned buyers in June after remaining mainly muted in the previous months. The FIIs pumped in Rs 13,269 crore in June.

What’s happening in the IPO market?

In an update from the Securities Exchange Board of India on Friday, July 2, Zomato and Chemplast Sanmar have received a go-ahead for their initial public offering. The food delivery major Zomato is likely to open its public offer by July 19, a media report suggested. The company aims to raise Rs 9,375 crore from the offer which consists of an offer for sale worth Rs 375 crore from their existing shareholder InfoEdge.

Chemplast Sanmar – the Chennai-based company is a leading specialty chemicals manufacturer and is aiming to raise Rs 3,500 crore via the offer. The offer comprises a fresh issue of Rs 1,500 crore and an offer for sale of Rs 2,000 crore.