Amid good earnings by India Inc., the benchmark stock markets touched the fresh record high for the second consecutive day on Wednesday. The benchmarks were trading with a gain of more than 0.60 per cent in noon deals today. At 1:04 pm, the S&P BSE Sensex was trading 427.65 points or 0.79% higher at 54,251.01. Sensex today hit a fresh record high of 54,440.80. The Nifty 50 index was trading 97.85 points or 0.61% higher at 16,228.60. Nifty 50 today hit a fresh record high of 16,290.20. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

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IPO Update

Devyani International IPO: The initial public offering (IPO) of Devyani International, the operator of fast-food majors Pizza Hut, KFC and Costa Coffee in India, which opened for subscription today was subscribed 1 time by 12:55 pm. The price band for the issue has been fixed at a price band of Rs 86-90 per share. The offer will be available till Friday, August 6, 2021. Devyani International aims to raise Rs 1,838 crore with the help of a fresh issue of equity shares worth Rs 440 crore and an offer-for-sale (OFS) of up to 155,333,330 equity shares worth Rs 1,398 crore by the promoter and existing shareholder. 

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Krsnaa Diagnostic Limited: The initial public offering (IPO) of Krsnaa Diagnostics Ltd, one of the fastest-growing diagnostic chains in India, which opened for subscription today was subscribed 1.01 times by 12:55 pm. The price band for the issue has been fixed at Rs 933-954 per share. The offer will be available till Friday, August 6, 2021. The company is planning to raise Rs 1,213 crore from the IPO that comprises of fresh issue of Rs 400 crore and an offer for sale of 85.25 lakh shares aggregating up to Rs 813 crore. 

Windlas Biotech: The initial public offering (IPO) of Windlas Biotech, manufacturer of pharmaceutical formulations, which opened today for subscription was subscribed 1.46 times by 12:55 pm. The price band for the issue has been fixed at Rs 448-460 per share. The offer will be available till Friday, August 6, 2021. The company plans to raise Rs 401.53 crore at the upper price band from the IPO that comprises a fresh issue of Rs 165 crore, and an offer for sale of 51,42,067 equity shares by offer for sale. The offer for sale comprises a selling of 11,36,000 equity shares by Vimla Windlass, and 40,06,067 equity shares by Tano India Private Equity Fund II. 

Exxaro Tiles: The initial public offering (IPO) of Exxaro Tiles, a leading manufacturer of vitrified tiles, will that opened today for subscription was subscribed 2.14 times by 12:55 pm. The price band for the issue has been fixed at Rs 118-120 per share. The offer will be available for subscription till Friday, August 6, 2021. The Rs 161 crore initial public offer has an issue size is 13.4 million equity shares comprising 11.18 million fresh shares and an offer for sale of up to 2.23 million. 

Earnings Reaction

Bharti Airtel: Up 0.39%. Telecommunications company Airtel has reported a 62.6% quarter-on-quarter decline in the consolidated profit at Rs 283.5 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 759 crore in the previous quarter ended March 31, 2021.   

Tata Consumer: Down 1.13%. Fast-moving consumer goods company has reported a 42.11% YoY decline in the consolidated profit at Rs 200 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 345.5 crore in the April-June quarter a year ago. 

Adani Enterprises: Down 0.71%. Adani Group’s flagship Adani Enterprises has reported a 9x YoY rise in the consolidated profit at Rs 271 crore for the quarter ended June 30, 2021, as against a profit of Rs 30 crore posted in the same quarter last year. Sequentially, the profit rose 16% as the company posted a profit of Rs 234 crore in the quarter ended March 31, 2021. 

Kalpataru Power Transmission Ltd: Up 0.22%. The global power transmission and infrastructure EPC has reported a 77.7% YoY rise in the consolidated profit at Rs 80 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 45 crore in the same quarter last year. 

Transport Corporation of India: Up 2.50%. Supply chain management company TCI has reported a 10x YoY rise in the consolidated profit at Rs 47.5 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 4.7 crore in the same quarter last year. 

Everest Industries: Down 5.92%. The new-age building solutions provider has reported a 3% YoY decline in the consolidated profit at Rs 20.3 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 20.9 crore in the same quarter last year. 

Dhampur Sugar Mills: Down 3.79%. The sugarcane mills company has reported a 20% YoY drop in the consolidated profit at Rs 44 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 55 crore in the same quarter last year. 

IIFL Wealth: Up 14.90%. Meanwhile, the stock hit the life high at 1,590 today, earlier, in the intraday trade. The wealth management company has reported a 43% YoY rise in the consolidated profit at Rs 117 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 82 crore in the same quarter last year. 

Bajaj Healthcare Ltd: Down 3.77%. The manufacturer of APIs, intermediates and formulations, has reported a 26.6% YoY rise in the consolidated profit of Rs 19 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 15 crore in the same quarter last year. 

Stocks in News

Dr Reddy's Laboratories: Up 1.47%.  Dr Reddy's announces the re-launch of over-the-counter Naproxen Sodium Tablets USP, 220 mg, the store-brand equivalent of Aleve® in the U.S. Market. Naproxen Sodium Tablets USP, 220 mg, had U.S. retail sales of approximately $316 million as of July 2021 according to IRI*. "The re-launch of Dr Reddy's Naproxen Sodium Tablets, 220 mg (OTC), is an important addition to our Pain/Analgesics portfolio of OTC products," says Marc Kikuchi, CEO, North America Generics, Dr Reddy's Laboratories. "

Natco Pharma: Down 0.52%. Natco Pharma Limited announces that it has transferred the Lenalidomide Capsules ANDA (2.5mg, 5 mg, 10 mg, 15 mg, 20 mg and 25 mg strengths) to Arrow International Limited as per an earlier agreement between the parties. This transfer of the ANDA to Arrow does not materially change any of the terms of the agreement between the parties. Arrow International Limited (an affiliate of Teva Pharmaceutical Industries Ltd) is the marketing partner of NATCO forth is a product in the US market. The ANDA was approved by USFDA in May 2021 with final approval in the 5 mg, 10 mg, 15 mg and 25mg strengths, and tentative approval in the 2.5 mg and 20mg strengths.

J&K Bank: Up 0.26%. Market regulator, Securities and exchange board of India (Sebi) has given an exemption to Jammu &Kashmir government from making an open offer as per the takeover rules while infusing Rs 500 crore through a preferential allotment in the Jammu &Kashmir Bank Ltd. J&K Government is the promoter of the bank. The state government, which currently holds 68.2% in the bank will see its shareholding going up to 74.24%, which means an increase of 6.06%.

GR Infraprojects: Down 1.04%. G R Infraprojects has received a letter of acceptance for a project worth Rs 364.87 crore from the Bangalore Metro Rail Project.
Ramkrishna Forgings: Up 1.37%. Wins first order in EV segment from Foreign Multinational Tier 1 OEM Opens new possibilities for global expansion.
Mahindra & Mahindra: Down 0.16%. Circular – Update of July 2021. Disbursement during the month at Rs 2,400 crore more than double over a smaller base in July 2020. Collection efficiency improved to 95% up from 90% in June 2021. 

Buzzing Stocks

  • Granules India: Up 2.54%. 
  • Edelweiss Financial: Up 0.88%.
  • Motherson Sumi: up 0.32%.
  • Sunflag Iron: Up 0.94%. 
  • Tata Coffee: Up 3.07%.
  • KRBL: Up 4.57%.
  • PVR: Up 0.63%.
  • Heranba Industries: Up 1.37%.
  • MTAR Technologies: Up 1.18%. 
  • Panacea Biotech: Up 10%.
  • Anant Raj: Up 0.36% 
  • Housing Finance Companies: Moving up. Stocks like HDFC – up 4.52%, Can Fin Homes – up 3.37%, GIC Housing – up 3.56%, LIC Housing – up 1.06% were trading higher. 
  • Petro Product Stocks: Moving up. Stocks like Manali Petro – up 4.97%, Chennai Petro – up 1.14%, IG Petrochemicals – up 0.27% were trading higher. 
  • Teas & Coffee Stocks: Moving up. Stocks like McLeod Russel – up 4.98%, Jayshree Tea – up 2.49%, Tata Coffee – up 3.12%, Harrison Malayalam – up 3.61% were trading higher.  

Stocks at life highs

  1. IRCTC: Up 1.30%. Meanwhile, the stock hit the life high at 2,535 today, earlier, in the intraday trade.
  2. Aarti Surfactants: Up 10.57%. Meanwhile, the stock hit the life high at 1,787.70 today, earlier, in the intraday trade.
  3. Vardhman Textiles: Up 6.02%. Meanwhile, the stock hit the life high at 2,039.70 today, earlier, in the intraday trade.
  4. ICICI Prudential: Up 3.46%. Meanwhile, the stock hit the life high at 684.70 today, earlier, in the intraday trade.
  5. NALCO: Down 0.69%. Meanwhile, the stock hit the life high at 96.60 today, earlier, in the intraday trade.
  6. Munjal Auto: Down 1.56%. Meanwhile, the stock hit the life high at 72.80 today, earlier, in the intraday trade.
  7. Godrej Agrovet: Up 1.32%. Meanwhile, the stock hit the life high at 746.80 today, earlier, in the intraday trade.
  8. GHCL: Up 5.68%. Meanwhile, the stock hit the life high at 401.60 today, earlier, in the intraday trade.
  9. Gujarat Gas: Down 0.13%. Meanwhile, the stock hit the life high at 786 today, earlier, in the intraday trade.
  10. Thirumalai Chemicals: Up 1.84%. Meanwhile, the stock hit the life high at 210 today, earlier, in the intraday trade.

Recent IPO Gainers: 

- MTAR Technologies: Up 1.10%.
- Barbeque Nation: Up 9.57%. Meanwhile, the stock hit the life high at 1,027.05 today, earlier, in the intraday trade.