Sensex at Record High, Prince Pipes and Fittings IPO, and Top Cues in Focus Today

Thu, 19 Dec Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

Indian share markets ended their day on a positive note yesterday.

At the closing bell yesterday, the BSE Sensex hit its record high and stood up by 206 points (up 0.5%) and the NSE Nifty closed higher by 59 points (up 0.5%).

The BSE Mid Cap index ended down by 0.2%, while the BSE Small Cap index ended the day down by 0.1%.

On the sectoral front, gains were seen in the healthcare sector and metal sector. Telecom sector and power sector, on the other hand, witnessed huge selling.

Speaking of Indian share markets, in the video below, Rahul Shah talks about the one important chart all investors should see before making a big investment in 2020.

Top Stocks in Focus Today

From the realty sector, Prestige Estates share price will be in focus today as the company has announced fund raising plan via preferential issue.

The company in a regulatory filing yesterday said that, "the board of directors of the real estate developer is scheduled to meet on Friday, December 20, 2019 to consider and approve raising of funds through preferential issue to an identified allottee."

Earlier this month, stock of the real estate developer had hit an all-time high of Rs 364, on optimization of strong pipeline of rental assets yielding growth in rentable income.

DLF share price will also be in focus today as the company is planning to strengthen its portfolio of rental assets with its partner, Singapore's sovereign wealth fund GIC Pte Ltd, to monetize residential inventory and start the next construction cycle in fiscal year 2020-21.

Reports state that the company's residential business will continue to focus on Delhi and its suburbs. The company has also outlined a pan-India strategy to expand its rental office portfolio across Chennai, Hyderabad and Pune.

From the IT sector, market participants will be tracking Infosys share price as the company has agreed to pay US$ 800,000 to settle allegations of misclassification of foreign workers and tax fraud.

As per reports, Infosys will pay California US$ 800,000 to resolve allegations that between 2006 and 2017, approximately 500 Infosys employees were working in the State on Infosys-sponsored B-1 visas rather than H-1B visas.

This misclassification resulted in Infosys avoiding California payroll taxes such as the unemployment insurance, disability insurance, and employment training taxes.

However, Infosys denied the allegations and asserted of no wrongdoings.

In 2017, the IT major had agreed to pay the State of New York US$ 1 million to settle allegations of submitting wrong documents to federal authorities.

From the IPO Space...

In the news from the IPO space, the initial public offering (IPO) of Prince Pipes and Fittings was subscribed around 25% during market closing hours yesterday - its first day of the bidding process.

The public issue received bids for 41.14 lakh equity shares against IPO size of 1.97 crore shares.

The reserved portion of retail investors was subscribed 40% and that of non-institutional investors 0.02%. The category set aside for qualified institutional buyers was not yet subscribed.

Prince Pipes and Fittings is one of India's leading pipe and fitting manufacturers.

It has 5% share in the organised market and was the sixth largest player in terms of sales at the end of FY19.

The offer is a combination of both fresh issue of shares and offer-for-sale (OFS). The proceeds will be utilised to repay partial debt and expand capacity at Rajasthan and Telangana plants.

The price band of the offer has been fixed at Rs 177-178. The bid lot consists of 84 shares and multiple thereof. The issue will close on 20 December (Friday).

Post issue, the promoters' holding in the company will come down to 65.8% from 90.1%.

How this IPO sails through remains to be seen. Stay tuned for more updates from this space.

BoB Underreported Bad Loans by Rs 52.5 Billion in FY19

In the news from the banking sector, Bank of Baroda share price underreported bad loans by Rs 52.5 billion for the financial year 2018-19, according to Reserve Bank of India's (RBI) risk assessment report.

In a filing to the stock exchanges on Tuesday, the public-sector lender said the divergence in gross non-performing assets (NPAs) assessed by the central bank stood at Rs 52.5 billion in FY19. The divergence in net NPAs was also Rs 52.5 billion for FY19.

Also, the divergence in provisioning for bad loans in FY19 was to the tune of Rs 40.9 billion. Of the Rs 40.9 billion divergence in provisions for NPAs, the bank had already made provision of Rs 14.7 billion during the current financial year which reduces the impact to Rs 26.1 billion.

We will keep you updated on all the developments from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers