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CMS Info Systems IPO subscribed 10% on day 1
The initial public offering of CMS Info Systems has been subscribed 10 percent, so far, on the first day of bidding. It has received bids for 38.76 equity shares, against the IPO size of 3.75 crore equity shares.
Retail investors have put in bids for 21 percent of shares reserved for them. Non-institutional investors and qualified institutional investors are yet to put in bids for the offer.
Nifty IT index gained 2 percent supported by the HCL Technologies, Coforge, Wipro
Rupee Opens:
Indian rupee opened 19 paise higher at 75.72 per dollar on Tuesday against previous close of 75.91.
The US dollar fell 0.01% yesterday as senator Joe Manchin said he would not support $1.75 trillion domestic investment bill. However, a sharp fall was cushioned on risk aversion in the global markets and surge in US treasury yields. Market sentiments were hurt on fears that fast spreading Omicron variant may push governments across the globe to impose restrictions, which could derail the global economic recovery, said ICICI Direct.
Rupee future maturing on December 29 appreciated by 0.22% on softening crude oil prices. However, sharp gains were prevented on a strong dollar and selloff in global markets, it added.
Adani Enterprises gets LoAs from UPEIDA for 3 Greenfield Ganga Expressway Projects
Adani Enterprises (AEL) participated in the competitive bidding process invited by UPEIDA for development, financing and construction of Ganga Expressway on PPP basis.
Adani Group has been awarded three Greenfield Ganga Expressway Projects under DBFOT (Toll) basis of 594 kms from UPEIDA in the state of Uttar Pradesh.
Adani Enterprises was quoting at Rs 1,626.00, up Rs 34.10, or 2.14 percent on the BSE.
Market at 10Benchmark indices extended the early gains and trading at day’s high with Nifty above 16800.The Sensex was up 685.52 points or 1.23% at 56507.53, and the Nifty was up 206.10 points or 1.24% at 16820.30. About 2146 shares have advanced, 632 shares declined, and 95 shares are unchanged.
MapmyIndia lists with 53% premium
CE Info Systems, popularly known for its brand MapmyIndia, made a strong debut on the bourses on December 21 despite volatility in the equity market, listing with a premium of 53 percent.
The stock opened at Rs 1,581 on the BSE against the issue price of Rs 1,033 per share, while on the National Stock Exchange, the opening price was Rs 1,565.
Healthy subscription to its IPO and robust financials supported the stock price today.
BSE Realty index rose over 1 percent supported by the Macrotech Developers, Indiabulls Real Estate, Sunteck Realty
#L&T to acquire stake in Intelliflux Controls INC
Larsen & Toubro International FZE, a wholly owned subsidiary of Larsen & Toubro has entered into a share purchase agreement on December 20, 2021 to purchase, stake in Intelliflux Controls INC., a Delaware Corporation.
The cost of said acquisition is Rs USD 2 million and will get completed by December 21, 2021.
Larsen & Toubro was quoting at Rs 1,822.20, up Rs 24.35, or 1.35 percent on the BSE.
Wipro signs an agreement to acquire Texas based company Edgile
Wipro has signed an agreement to acquire Austin, Texas headquartered Edgile, a transformational cybersecurity consulting provider that focuses on risk and compliance, information and cloud security, and digital identity, company said in its release.
Edgile is recognized by security and risk leaders for its unique business-aligned cybersecurity capability, deep understanding of the changing regulatory environment and enabling cloud transformations that help secure the modern enterprise.
In addition, the company’s “strategy-first” approach and “Quick Start” solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services, company said.
Wipro was quoting at Rs 681.10, up Rs 14.75, or 2.21 percent on the BSE.
Nifty Metal index added 3 percent led by the NALCO, APL Apollo Tubes, Ratnamani Metals
HP Adhesives share allotment likely tomorrow
Adhesives and sealants company HP Adhesives will finalise the basis of its share allotment on December 22 after the company received healthy response for its initial public offer on December 15-17.
The company’s IPO was subscribed 20.96 times, attracting bids for 5.29 crore equity shares against an issue size of 25.28 lakh shares.
While retail investors bid for 81 times the reserved portion, the non-institutional investors’ portion was subscribed 19 times and qualified institutional investors bid for 1.82 times.
