Nifty trades above 23,900; auto shares in demand

The domestic equity indices extended gains in the morning trade. The Nifty marched above the 23,900 level. Auto shares extended gains for the second consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, rallied 473 points or 0.60% to 78,945.94. The Nifty 50 index jumped 160.40 points or 0.68% to 23,910.60.

In the broader market, the S&P BSE Mid-Cap index added 0.21% and the S&P BSE Small-Cap index rose 0.10%.

The market breadth was strong. On the BSE, 2,037 shares rose and 1,522 shares fell. A total of 188 shares were unchanged.

New Listing:

Shares of Mamata Machinery were currently trading at Rs 629.95 at 10:21 IST on the BSE, representing a premium of 159.24% as compared with the issue price of Rs 243.

The scrip was listed at Rs 600, exhibiting a premium of 146.91% to the issue price.

So far, the stock has hit a high of 629.95 and a low of 599. On the BSE, over 22.64 lakh shares of the company were traded in the counter so far.

Shares of Sanathan Textiles were currently trading at Rs 408.80 at 10:08 IST on the BSE, representing a premium of 27.35% as compared with the issue price of Rs 321.

The scrip was listed at Rs 419.10, exhibiting a premium of 30.56% to the issue price.

So far, the stock has hit a high of 422.65 and a low of 382.85. On the BSE, over 9.95 lakh shares of the company were traded in the counter so far.

Shares of Transrail Lighting were currently trading at Rs 570.15 at 10:14 IST on the BSE, representing a premium of 31.98% as compared with the issue price of Rs 432.

The scrip was listed at Rs 585.15, exhibiting a premium of 35.45% to the issue price.

So far, the stock has hit a high of 604 and a low of 544.30. On the BSE, over 8.80 lakh shares of the company were traded in the counter so far.

Shares of Concord Enviro Systems were currently trading at Rs 820.75 at 10:08 IST on the BSE, representing a premium of 17.08% as compared with the issue price of Rs 701.

The scrip was listed at Rs 832, exhibiting a premium of 18.69% to the issue price.

So far, the stock has hit a high of 835 and a low of 800.50. On the BSE, over 3.03 lakh shares of the company were traded in the counter so far.

Shares of DAM Capital Advisors were currently trading at Rs 436.00 at 10:28 IST on the BSE, representing a premium of 54.06% as compared with the issue price of Rs 283.

The scrip was listed at Rs 392.90, exhibiting a premium of 38.83% to the issue price.

So far, the stock has hit a high of 456.90 and a low of 392.90. On the BSE, over 26.80 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Auto index rose 2.30% to 23,402.10. The index added 2.24% in two consecutive trading sessions.

Bajaj Auto (up 2.98%), Tata Motors (up 2.69%), Mahindra & Mahindra (up 2.59%), Eicher Motors (up 2.52%) and Samvardhana Motherson International (up 2.27%), Balkrishna Industries (up 2.05%), Bharat Forge (up 1.73%), Maruti Suzuki India (up 1.69%), TVS Motor Company (up 1.4%) and Exide Industries (up 1.27%) added.

Stocks in Spotlight:

Adani Enterprises added 1.15% after the company announced that it has acquired 26% stake in Gidhmuri Paturia Collieries (GPCPL) from Sainik Mining and Allied Services.

IRCON International rose 0.93%. The company announced that it has secured two new contracts from the Northeast Frontier Railway valued at a combined Rs 89 crore.

Lemon Tree Hotels added 0.50%. The company announced that it has signed a new property in Bapane, Maharashtra.

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