Equity

At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 244.49 points or 0.37% to 65,752.81. The Nifty 50 index rose 89.15 points or 0.46% to 19,612.70.

In the broader market, the S&P BSE Mid-Cap index gained 1.16% while the S&P BSE Small-Cap index added 0.39%.

The market breadth was strong. On the BSE, 2,218 shares rose and 1,172 shares fell. A total of 171 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Plaza Wires received bids for 94.98 lakh shares as against 94.96 lakh shares on offer, according to stock exchange data at 11:18 IST on Friday (29 September 2023). The issue was subscribed 1 time.

The issue opened for bidding on Friday (29 September 2023) and it will close on Thursday (5 October 2023). The price band of the IPO is fixed at Rs 51-54 per share. An investor can bid for a minimum of 277 equity shares and in multiples thereof.

The initial public offer (IPO) of Valiant Laboratories received bids for 76.50 shares as against 76.23 lakh shares on offer, according to stock exchange data at 11:33 IST on Thursday (28 September 2023). The issue was subscribed 1 time.

The issue opened for bidding on Wednesday (27 September 2023) and it will close on Tuesday (3 October 2023). The price band of the IPO is fixed at Rs 133-140 per share. An investor can bid for a minimum of 105 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Media index advanced 1.26% to 2,252.60. The index declined 1.40% in the past trading session.

Sun TV Network (up 4.46%), Zee Entertainment Enterprises (up 1.95%), D B Corp (up 1.52%), Network 18 Media & Investments (up 0.79%), PVR Inox (up 0.53%), Hathway Cable & Datacom (up 0.5%) and TV18 Broadcast (up 0.35%) advanced.

On the other hand, Nazara Technologies (down 0.57%), Dish TV India (down 0.54%) and Saregama India (down 0.19%) edged lower.

Stocks in Spotlight:

Saregama India declined 0.31%. The company said that it has entered into investment agreement with Pocket Aces Pictures to acquire 92.61% stake with multiple transactions.

Navin Fluorine International dropped 13.65% after the company announced resignation of its managing director, Radhesh R. Welling.

Larsen & Toubro (L&T) rose 0.30%. The EPC major announced that its construction arm has secured 'mega' order for its Heavy Civil Infrastructure business. As per L&T's classification, the value of the 'mega' project is more than Rs 7,000 crore. The said order has been received from Mumbai Metropolitan Region Development Authority (MMRDA), for the design and construction of an underground road tunnel project between Orange gate, Eastern Free Way to Marine Drive Coastal Road at Mumbai.

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