At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 183.45 points or 0.31% to 60,103.14. The Nifty 50 index added 69.45 points or 0.39% to 17,943.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.05% while the S&P BSE Small-Cap index was up 0.02%.
The market breadth was positive. On the BSE, 1662 shares rose and 1350 shares fell. A total of 166 shares were unchanged.
Results Today:
Coal India (up 0.06%), Grasim Industries (up 0.96%), Hero MotoCorp (down 0.16%), Hindalco Industries (up 1.76%), ONGC (up 0.29%), Amara Raja Batteries (up 0.47%), Apollo Hospitals Enterprise (up 0.81%), Ashok Leyland (down 0.2%), Mrs Bectors Food Specialities (up 0.73%), Bharat Forge (up 1.3%), Burger King (up 0.4%), Force Motors (down 0.05%), Glenmark Pharma (up 0.91%), Motherson Sumi Systems (up 0.65%), NALCO (up 1.56%) and NBCC (India) (down 0.53%) will announce their quarterly results today.
New Listing:
Shares of Fino Payments Bank were currently trading at Rs 563.30 at 10:25 IST on the BSE, a discount of 2.43% as compared to the issue price of Rs 577. The scrip was listed at Rs 548, a discount of 5% to the issue price.
The initial public offer (IPO) of Fino Payments Bank was subscribed 2.03 times. The issue opened for bidding on 29 October and it closed on 2 November 2021. The price band of the IPO was fixed at Rs 560-577 per share.
Buzzing Index:
The Nifty Metal index rose 0.82% to 5,727.75 and was a top gainer on NSE sectoral indices. The metal index extending its winning run to second session. The index has now gained 1.2% in two days.
Hindalco Industries (up 2.23%), Vedanta (up 0.86%), Hindustan Zinc (up 0.44%), JSW Steel (up 0.34%), Coal India Ltd (up 0.3%) and Steel Authority of India Ltd (up 0.3%) were top gainers in metal space.
Tata Steel rose 1.11% to Rs 1313.35 after the company recorded a consolidated net profit of Rs 12,548 crore in Q2 FY22 as against a net profit of Rs 9,768 crore in Q1 FY22, registering a growth of 28.5% on QoQ basis. Total revenue from operations rose by 12.9% QoQ to Rs 60,283 crore during the quarter. The company said that revenues improved across key entities with increase in realisation across geographies and higher deliveries at India, partially offset by lower deliveries at Europe. Raw material cost increased by 10.8% to Rs 22,218 crore in Q2 FY22 from Rs 20,044 crore in Q1 FY22. The increase was primarily due to increase in purchased iron ore and coal consumption cost across key entities, including higher purchase of finished & semi-finished goods. Adjusted EBITDA improved by 12.1% QoQ to Rs 17,810 crore in the second quarter. Adjusted EBITDA per ton in Q2 FY22 was Rs 24,112, up by 7.8% from Rs 22,366 in Q1 FY22.
NMDC fell 1%. The PSU miner reported 202.72% rise in consolidated net profit to Rs 2338.63 crore on 196.83% rise in total income to Rs 6882.44 crore in Q2 FY22 over Q2 FY21.
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