Indices traded with small gains amid volatility in morning trade. The Nifty hovered near the 15,850 level. Barring pharma and realty stocks, buying demand was seen across the board.
At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 66.85 points or 0.13% at 52,904.76. The Nifty 50 index was up 17.30 points or 0.11% at 15,841.45.
In broader market, the S&P BSE Mid-Cap index was up 0.35% while the S&P BSE Small-Cap index gained 0.28%.
The market breadth was positive. On the BSE, 1645 shares rose and 1261 shares fell. A total of 122 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 192,531,709 with 4,135,259 global deaths.
India reported 405,513 active cases of COVID-19 infection and 419,470 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
New Listing:
Shares of Zomato were currently trading at Rs 134.35 on the BSE, a premium of 76.78% as compared with the issue price of Rs 76 per share. The scrip listed at a price of Rs 115 apiece, at a premium of 51.32% to the issue price. So far, the scrip has hit a high of 138 and a low of 114 in trade today. Over 247.30 lakh shares of the company were traded in the counter till now.
The initial public offer of online food delivery platform Zomato received bids for 2,751.27 crore shares as against 71.92 crore shares on offer, according to stock exchange data. The issue was subscribed 38.25 times. The issue opened for bidding on Wednesday (14 July 2021) and closed on Friday (16 July 2021).
Buzzing Index:
The Nifty IT index gained 0.65% to 29,972.55, rising for second trading session. The IT index added 2.46% in two days.
Mphasis (up 10.5%), HCL Tech (up 1.63%), Coforge (up 1.22%), Wipro (up 0.51%) and TCS (up 0.44%) were top gainers in IT space.
Earnings Impact:
IndiaMART InterMESH rose 2.27% to Rs 7,170.05 after the B2B company's consolidated net profit jumped 18.62% to Rs 87.90 crore on a 18.61% increase in revenue from operations to Rs 181.60 crore in Q1 FY22 over Q1 FY21. Total revenue grew due to improvement in realization from existing customers and increase in number of paying subscription suppliers.
The consolidated deferred revenue increased to Rs 715 crore in Q1 FY22 from Rs 628 crore in Q1 FY21. Consolidated EBITDA grew 21% to Rs 89 crore in Q1 FY22 as against Rs 73 crore in Q1 FY21. EBITDA margin improved to 49% during the quarter as compared to 48% during Q1 FY21. Profit margin stood at 42% in Q1 FY22 over 40% in Q1 FY21.
Indian Energy Exchange fell 0.66%. The company recorded a 49.3% rise in consolidated net profit to Rs 62.82 crore on a 34.1% rise in net sales to Rs 91.03 crore in Q1 FY22 over Q1 FY21. On a sequential basis, net profit increased by 2.11% while net sales declined nearly 3% in Q1 FY22 over Q4 FY21.
On the operational front, electricity volume increased by 42.9% to 21,266 million units (MU) in Q1 FY22 as against 14,878 MU recorded in the same period last year. IEX said the growth in electricity volume was largely driven by competitive power prices on the exchange, growing electricity consumption, and vibrant performance of new market segments.
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