Sensex and Nifty are trading higher Tuesday led by gains in IT and auto stocks amid mixed global cues. Broader markets, midcap and smcallcap indices are also in the green. Among sectors, Nifty IT, Nifty FMCG, Nifty Auto and Nifty Realty indices gained the most, while metal and media indices are under pressure.
Sensex Trades Higher
Sensex: The share price of Balaji Amines surged in early trade after reporting a good set of numbers, healthy growth continues and the company is confident of expansion plans. The company says revenues growth was largely on account of incremental sales from the new Ethylamines plant and increased capacity utilization.
It also expects DMC plant to commence operations from FY22 and for the year company plans capex of approximately Rs 70 to 80 crore for an additional Acetonitrile plant which will be commissioned by FY23. Alkyl Amines also is buzzing on the back of good numbers from Balaji Amines.
E-commerce beauty company Nykaa has filed for an initial public offering (IPO), becoming the latest homegrown startup to pursue a listing on the domestic bourses, Reuters reported. Nykaa, formally known as FSN E-Commerce Ventures Ltd, said its IPO will consist of a fresh issue of shares of up to 5.25 billion rupees ($70.63 million) and an offer for sale of up to 43.1 million shares, according to a copy of its draft red herring prospectus dated Monday.
Sensex Trades Higher, Nifty Above 15,900
Tata Motors on Monday said it has increased prices of its passenger vehicles by 0.8 percent with effect from August 3. The Mumbai-based auto major, which sells models like Nexon and Harrier, will increase prices of its passenger vehicles on an average of 0.8 per cent depending on the variant and model, Tata Motors said in a statement. The company noted that it would offer protection from the price increase to vehicles that will be retailed on or before August 31.