Indian equities pared most of its gains to trade on a flat note on Monday. Metal, IT and energy stocks gained while financial stocks dropped.
BSE Midcap and Smallcap index rose 0.52% and 0.88% respectively.
At 13.01., the Sensex was trading up 127.44 points or 0.25% at 50,532.76 with 20 components gaining. Meanwhile, the Nifty was trading higher by 25.40 points or 0.17% at 14,963.50 with 33 components gaining.
The 30-share benchmark index, BSE Sensex opened with a gain of 248.70 points or 0.49% at 50,654.02, while the broad based NSE Nifty started with a rise of 64.35 points or 0.43%, at 15,002.45.
Larsen & Toubro contributed rise of 85.97 points in the Sensex. It was followed by Oil & Natural Gas Corporation (80.49 points), Reliance Industries (43.24 points), Infosys (36.7 points) and NTPC (26.22 points).
However, Housing Development Finance Corporation contributed fall of 41.12 points in the Sensex. It was followed by ICICI Bank (28.44 points), HDFC Bank (15.64 points), Hindustan Unilever (11.64 points) and Tata Motors (11.03 points).
Biggest gainers in the 30-share index were Oil & Natural Gas Corporation (3.61%), Larsen & Toubro (3.39%), NTPC (2.80%), HCL Technologies (2.38%), and Axis Bank (1.48%).
On the other hand, Bajaj Finance (1.92%), Indusind Bank (1.21%), Kotak Mahindra Bank (1.06%), Housing Development Finance Corporation (1.05%), Bajaj Finserv (0.84%), and Hindustan Unilever (0.72%) were the major losers in the Sensex.
Market breadth was negative with 1,778 advances against 1,186 declines.
Easy Trip Planners (ETPL) is the second largest Online Travel Agency (OTA) in India in terms of booking volume (9MFY21) and third largest in terms of gross booking revenues (GBR; FY20). It is the only profitable OTA in India over last three years, in terms of net profit margin.
The price band for the offer has been fixed at Rs 186-187 per share. The Rs 5.1 billion IPO consists of only OFS which would result in promoter’s stake reducing from 100% pre-IPO to 74.9% post-IPO. It has received bids for 55.5 lakh equity shares against an offer size of over 15 million equity shares, was subscribed 37%.
Motilal Oswal Retail Research said, "We like ETPL given its lean business model, differentiated offering and strong customer connect. However the travel industry which was significantly impacted due to Covid-19, is likely to take much longer time to revive; though recovery is visible and vaccination drive would further propel it. The issue is valued at 49.9x FY21E P/E on an annualized basis. Being the first in the segment to get listed in India, ETPL could generate high investor interest. Thus we recommend Subscribe to the IPO."
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