MARKET UPDATE: Sensex dipped 4 points to quote at 60,052 levels, while the Nifty50 hovered around 17,730 levels
Published On: Tuesday, April 25, 2023 | By: Team KnowMyStock
Opening Bell: Today ( 25 April 2023), benchmark S&P BSE Sensex dipped 4 points to quote at 60,052 levels while the Nifty50 index hovered around 17,730 levels mainly pulled down by selling in HDFC, HUL, M&M, Infosys, HCL Tech, and HDFC Bank. In the broader markets, the BSE MidCap was flat with a mild downtick, and SmallCap indices were up 0.1 percent.
Individually, shares of Welspun India surged 3 per cent as the company is set to consider buyback proposal on April 27.
Those of Mahindra Lifespace, meanwhile, added 2 per cent after the company said it has secured project to redevelop a housing society in Mumbai with an expected revenue potential of Rs 850 crore.
On the downside, Ipca Labs shares tumbled 8 per cent. The board approved the acquisition of 33.38 per cent of the paid-up share capital of Unichem Laboratories for Rs 1,034 crore from one of its promoter shareholders. Ipca is acquiring the stake at Rs 440 per equity share.
Sectorally, the Nifty PSU Bank index gained 0.7 per cent, while the Nifty IT and Consumer Durable indices fell up to 1 per cent.
The Rs 4,326-crore initial public offering (IPO) of Mankind Pharma will open for subscription today with a price band of Rs 1,026-1,080 per share.
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