After opening the day on the higher, Indian benchmark indices continued the momentum as the session progressed but ended the day higher.

Benchmark equity indices, the BSE Sensex and NSE Nifty50 settled at record highs on closing levels on Thursday.

At the closing bell, the BSE Sensex stood higher by 126 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 60 points (0.2%).

Coal India, ONGC, and HDFC Bank are among the top gainers today.

M&M, Hero MotoCorp, and SBI on the other hand were among the top losers today.

The GIFT Nifty was trading at 25,047, down by 2 points, at the time of writing.

The BSE MidCap index ended 0.8% lower and the BSE SmallCap index ended 0.7% lower.

Sectoral indices are trading mixed, with stocks in the energy sector, the power, and oil & gas sectors witnessing the most buying. Meanwhile, stocks in the realty sector and telecom sector witnessed selling pressure.

Shares of Maruti Suzuki, 3M India, and TVS Motors hit their respective 52-week highs today.

The rupee is trading at 83.73 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 69,777 per 10 grams.

Meanwhile, silver prices were trading 0.3% higher at Rs 83,879 per 1 kg.
 

Adani Energy Solutions Jumps 10%

Moving on to news from the energy sector, shares of Adani Energy Solutions surged nearly 10% on Thursday after the US$1-billion qualified institutional placement (QIP) was oversubscribed six times, garnering a demand of over.

The two-day qualified institutional placement (QIP) opened on Wednesday. Duquesne Family Office, the fund founded by billionaire investor Stanley Druckenmiller, and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - have invested in it.

The report further revealed that Adani Energy raised Rs 500 bn through the issue, noting that these three funds invested in Indian equities for the first time.

More than 125 institutional investors participated in the fundraising of Adani Energy, stated the report. Other prominent investors in the QIP include Blackrock, Abu Dhabi Investment Authority (ADIA), Jupiter Asset Management, Nomura, Eastspring Investments, GQG Partners, and Qatar Investment Authority.

The issue comprised a base deal of up to Rs 58.6 bn (US$ 700 m) and a greenshoe option to upsize by up to an additional Rs 25.1 bn ($300 million). The company is issuing 60.1 m equity shares as the base issue with an option to upsize to 25.7 m shares.

According to the term sheet, the dilution at the base deal is 5.4% of the pre-issue outstanding equity capital, and at the upsized deal, it is 2.3% at the indicative issue price.
 

Why Suzlon Energy Share Price is Falling

Moving on to news from the energy sector, shares of Suzlon Energy are seeing some profit booking after eight days of relentless rise, slipping down by 3% to Rs 67 per share mark.

The sharp uptick comes after the wind energy player reported a solid 2% year-on-year surge in net profit, at Rs 3 bn for the June quarter. Revenue too rose 50% to Rs 20.2 bn, up from Rs 13.5 bn in the same period last year.

The wind turbine maker achieved its largest-ever order book of 3.8 GW in Q1FY25, which the management said provides strong visibility for future growth.

The recent price action in the stock can be described as 'vertical'.

Just look at the top right of its chart...

Akums Drugs IPO Receives 7x Subscription

On 1 August, the final day of bidding for Akums Drugs and Pharmaceuticals Ltd's IPO, the issue was overall subscribed by 7.4 times.

Non-institutional investors (NIIs) showed the highest demand, subscribing 16.4 times of their allocated shares. Retail Individual Investors (RIIs) followed closely, subscribing to nearly 12 times their allotment, while Qualified Institutional Buyers (QIBs) subscribed 1.6 times their allocation.

The employee segment also demonstrated strong interest, with a subscription rate of 2.7 times.

The IPO, which aims to raise Rs 18.7 bn, opened for subscription on July 30.

The shares of the company are expected to debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 6 August.

The IPO comprises a fresh issue of 1 crore shares valued at Rs 6.8 bn, alongside an offer for sale of 1.73 crore shares amounting to Rs 11.8 bn. The price band for the shares is set between Rs 646 and Rs 679.

The IPO has already garnered substantial interest from anchor investors, raising Rs 8.3 bn. The anchor bid date was set for 29 July.

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