The 30-share pack Sensex tanked 372.32 points or 0.62 per cent to close at 59,636.01. Its broader peer Nifty50 shed 133.85 points or 0.75 per cent to 17,764.80. The broader markets underperformed as BSE Midcap and BSE Smallcap indices plunged 2 per cent each.
Vinod Nair, Head of Research at Geojit Financial Services said the weak listing of India’s largest IPO Paytm and soft global markets amid rising inflation woes impacted domestic sentiment.
Amid a weak debut for Paytm and poor sentiments in the broader market, shares of other recently-listed companies also came under pressure. On the other hand, Escorts, SCI and a few other names bucked the weak market mood. Let’s have a look at the biggest movers and shakers of Thursday’s session.
LOSERS
One97 Communication: The parent company of Paytm, the latest debutant on bourses, disappointed investors with a weak show on listing day. The scrip debuted at a discount of 9 per cent and further extended its decline by another 20 per cent. The scrip finally ended the day at Rs 1,564.15, down 27 per cent.
Fino Payments Bank: The lender which made its debut last week tanked 12 per cent to Rs 448.45 following its investor/analyst call after poor earnings in the September quarter. The lender has failed to attract investors ever since its listing.
Vedanta: The Anil Agarwal-led mining major gave up 9 per cent to Rs 309.60 after the company announced the demerger of its aluminium, iron & steel and oil & gas businesses, which will be run as standalone listed entities with separate leadership in what has been described as a ‘value-unlocking’ exercise.
PB Fintech: The poor performance of recently listed players jittered the sentiments for the parent company of PolicyBazaar as well. The scrip shed 8 per cent to Rs 1,329 after delivering a 50 per cent return since listing.
SJS Enterprises: Another recently listed player was investors’ radar. The counter has failed to see investor interest ever since its debut on the bourses. It fell more than 8 per cent to Rs 473.95 during the day.
Aurum Proptech: The IT and software player dropped 7 per cent to Rs 153.60 during the day as investors booked profits in the company. The scrip had surged about 50 per cent in the last one week.
GAINERS
Escorts: The commercial vehicle player zoomed 11 per cent to Rs 1,802.90 after Japan-based Kubota Corporation acquired a stake in the company. Kubota will also make an open offer to the public shareholders of Escorts to acquire up to 26 per cent stake in the company.
India: The shipping player gained 9 per cent to Rs 140.55 as it announced that the board of directors of Shipping Corporation of India has considered and approved the Scheme of Arrangement for Demerger of ‘Non-Core Assets’ between Shipping Corporation of India and Shipping Corporation of India Land and Assets.
Elecon Engineering: The industrial machinery player advanced 7 per cent to Rs 182.55 on the back of a strong technical set-up. The daily traded volume jumped manifold compared to the two-week average.
