The second Covid wave and partial lockdowns perhaps could limit investors’ enthusiasm for direct equity and draw them back to mutual funds

PowerGrid InvIT raised Rs 3,480 crore by issuing 34,80,74,100 units to marquee anchor investors on April 28.

Brokerages give a thumbs up, citing strong lineage and support from the sponsor, solid financial positioning, consistent and stable cash flows, strategic and critical nature of power transmission business, and a skilled and experienced investment manager

Power Grid Corporation is required to hold 15 percent stake in the InvIT and the rest by public unitholders.

The PowerGrid InvIT IPO comprises a fresh issue of Rs 4,993.48 crore and an offer for sale of 2,741.51 crore by selling unitholders.

Macrotech Developers remained under pressure throughout the session. It touched an intraday high of Rs 477.90 and a low of Rs 421.15 after opening 10 percent lower at Rs 439.

Gaurav Garg of CapitalVia Global Research feels Macrotech Developers has pretty high number of unsold inventories which is a major concern that investors are worried about.

Macrotech Developers#39; Rs 2,500 crore public issue had seen a 1.36 times subscription during April 7-9, the lowest subscription since October 2019.

To get fully subscribed main board public issues have to receive at least 90 percent subscription from the qualified institutional buyers

Macrotech Developers, formerly Lodha Developers, is looking to mop up Rs 2,500 crore through the IPO and will utilise the proceeds to repay debt and acquire land or land development rights.

Choice Equity Broking has come out with its report on Macrotech Developers. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on April 06, 2021.

The stock opened at Rs 492, down 1.6 percent from the issue price of Rs 500, but gained strength and ended 18 percent higher.

Macrotech Developers incurred a net loss of Rs 264 crore during the nine months period ended December 2020 affected by COVID-19 and a one-time provision of Rs 500 crore

Macrotech Developers, which plans to raise Rs 2,500-crore through the IPO, has a land reserve of around 3,803 acres in the Mumbai Metropolitan Region with the potential to develop projects admeasuring around 322 million square feet of the developable area.

The company successfully raised Rs 453 crore through its public issue including fresh issue of Rs 180 crore which would be on net basis utilised for repaying debts.

Marquee names among foreign portfolio investors participated in the anchor book were American Funds Insurance, Ivanhoe OP India Inc, Bayvk A2 Fonds, Wellington Trust Company Brown Advisory and Government of Singapore.

BSE Midcap index ended flat, while Smallcap index rose 1.5 percent.

Among sectors, bank, auto, IT, PSU bank and FMCG indices fell 1-2 percent, while the pharma index rose 1 percent.

JSW Steel, Tata Steel, Bajaj Finserv, Bajaj Finance and Hindalco Industries were among the top gainers on the Nifty. Losers included Hero MotoCorp, Eicher Motors, Bajaj Auto, HDFC and HCL Technologies.

Except metal and pharma, all other sectoral indices ended in the green. BSE midcap and smallcap indices rose 0.7-1 percent.

All the sectoral indices ended in the green with PSU Bank and metal indices rose over 2 percent each while BSE Midcap and Smallcap indices rose 1 percent each.

Except for pharma, all other sectoral indices ended in the green. BSE Midcap and Smallcap indices rose 0.6 and 0.9 percent, respectively.

ICICI Bank, Wipro, JSW Steel, Tata Steel and HDFC were among the major gainers on the Nifty, while the losers included Titan Company, Shree Cements, Tata Consumer Products, HUL and Nestle.

Auto and pharma indices rose 1 percent each, while IT index shed over 1 percent. BSE midcap and smallcap indices ended in the green.

The Nifty PSU Bank shed more than 4 percent, while auto, infra, metal and energy indices slipped 1-2 percent. BSE Midcap and Smallcap indices shed 1.5-2 percent.

At close, the Sensex was up 259.62 points or 0.53% at 48803.68, and the Nifty was up 76.70 points or 0.53% at 14581.50.

While auto, bank, metal, capital goods, oil gas and realty indices gained, the Nifty IT index took a beating, ending lower by 3.28 percent.

All the sectoral indices ended in the red, with the PSU Bank index shedding over 9 percent. Auto, energy, infra and metal indices fell 4-5 percent. BSE Midcap and smallcap indices also slipped 4-5 percent.

BSE midcap ended flat while smallcap index added 0.7 percent.

The broader indices performed a shade better than the benchmarks, with BSE midcap and smallcap gaining more than 0.5 percent each.

Except power, all other BSE sectoral indices ended on a positive note with realty, IT, auto, bank, oil gas and metal indices adding 1 percent each.