Latent View Analytics made a stellar stock market debut on Tuesday the stock opened for trading at Rs 512 against IPO price of Rs 197, marking an upside of 160 per cent.
The IPO was subscribed a whopping 326 times.
In other business news, the Sensex and Nifty recovered most of their intraday losses on the back of buying interest in metal, auto and state-run banking shares.
In the opening deals, Sensex fell over 700 points and Nifty 50 index touched an intraday low of 17,216.Future Retail Employees Urge Top Court To Clear Asset Sale In Amazon DisputeEmployees of Future Retail have asked the Supreme Court to allow the companyto sell its retail assets and rule against Amazon.com Inc in an ongoing dispute, citing risks to 27,000 jobs, according to a legal filing seen by Reuters.Future has failed to close its $3.4 billion deal to sell its retail assets to market leader Reliance Industries due to successful legal challenges by Amazon, which argues that Future violated some pre-existing contracts the two sides had struck, by deciding to sell its retail assets to Reliance.Source: ReutersCryptocurrencies Post Inflows In Latest Week, Led By Bitcoin: ReportCryptocurrency products and funds posted inflows in the latest week, with investors undeterred by the latest price corrections, weekly data from digital asset manager CoinShares showed on Monday.Institutional investors poured in $154 million in the crypto sector in the week ended November 19, with a year-to-date total of $9.2 billion, already exceeding total inflows of $6.7 billion in 2020.Source: ReutersVedanta Surges Nearly 8% On Heavy Trading VolumesShares of billionaire Anil Agarwal-led Vedanta Limited - rose as much as 7.74 per cent to hit an intraday high of 354 on the back of heavy trading volumes.
As many as 4.33 crore Vedanta shares changed hands by 11:19 am, on the BSE, compared with an average of 14.13 lakh shares traded daily in the past two weeks, data from BSE showed.
Promoters of Vedanta - Twin Star Holdings and Vedanta Netherlands Investments B.V.
are looking to purchase up to 17 crore equity shares of the company at an indicative price of 350 per share, valued at 5,950 crore, newspaper Business Standard reported on Monday.Sensex, Nifty Off Day's Lows; Metal Shares OutperformThe Indian equity benchmarks came off intraday lows but were trading with a negative bias.
The 30-stock Sensex was down 275 points or 0.47 per cent at 58,222 and Nifty was down 40 points to 17,376.Aramco Eyes New Investments In India After Reliance Scraps DealSaudi Aramco said it will continue to look for investment opportunities in India, days after Reliance Industries Ltd.
scrapped a plan to sell a stake in its oil-to-chemicals unit to the Middle Eastern company."India offers tremendous growth opportunities over the long term," Aramco said in a statement on Sunday.
It will "continue to evaluate new and existing business opportunities with our potential partners."Aramco had signed a non-binding letter of intent in August 2019 for a potential 20% stake in Reliance's oil-to-chemicals unit valued at about $15 billion.
Reliance said the companies would walk away from the deal on Friday.Source: BloombergPetrol, Diesel Prices Remain Unchanged For 19th Straight DayFuel prices were kept unchanged for the 19th consecutive day on Tuesday.
Earlier on November 4, the government had slashed excise duty on petrol and diesel to bring rates slightly down from the record-high levels.In the national capital, petrol is currently sold for 103.97; while diesel rate stood at 86.67, according to Indian Oil Corporation.
In Mumbai, petrol is retailed at 109.98 per litre; while diesel is being sold at 94.14 per litre.US Set To Unveil Emergency Oil Release In Bid To Fight High PricesThe United States is expected to announce a loan of crude oil from its emergency stockpile on Tuesday as part of a plan it hashed out with major Asian energy consumers to lower energy prices, a Biden administration source familiar with the situation said.The move is designed to tame soaring energy prices after the OPEC producer group and its allies rebuffed repeated requests from Washington and other consumer nations to pump more quickly to match rising demand.Oil Slips On Plans To Tap Emergency Crude ReservesOil prices fell on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as COVID-19 cases flare up in Europe.The United States is expected to announce a loan of crude oil from its emergency stockpile on Tuesday as part of a plan it hashed out with major Asian energy consumers to lower energy prices, a Biden administration source familiar with the situation said.MobiKwik, Smaller Rival Of Paytm, May Defer IPO: ReportDigital payments firm MobiKwik could delay its initial public offering (IPO) by two to three months and could even push it to the next financial year as it struggles to get foreign institutional backers at the right valuation, the Economic Times newspaper said on Tuesday.The report comes days after larger rival Paytm's dismal market debut that saw its shares tumble more than 27 per cent, raising questions about upcoming offerings in India's until-now red hot IPO market.Latent View Analytics Makes Stellar Market DebutShares of Latent View Analytics opened for trading at Rs 512, marking an upside of 160 per cent from its IPO price of Rs 197 per share.
Latent View Analytics' IPO was subscribed a whopping 326 times.JSW Steel, Tata Steel, Tata Motors Among Top GainersJSW Steel, Tata Steel, Tata Motors, Adani Ports, Coal India, Hindalco, Indian Oil, Divi's Labs, Power Grid and Maruti Suzuki were among the gainers.Infosys, ICICI Bank, Shree Cement Among Top Nifty LosersInfosys, ICICI Bank, Shree Cements, Bajaj Auto, Tata Consultancy Services, Dr Reddy's Labs, SBI Life, IndusInd Bank and Asian Paints were among the losers.Broader Markets Outperform Larger PeersMid- and small-cap shares were also witnessing buying interest as Nifty Midcap 100 index rose 0.43 per cent and Nifty Smallcap 100 index advanced 0.73 per cent.Nifty Metal Index Top Sectoral GainerSeven of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Metal index's nearly 2 per cent gain.
Nifty Realty, PSU Bank, Media and Auto shares were also witnessing buying interest.