Nifty50: 17,233▲+147 (+0.8%)
Sensex: 57,897 ▲+477 (+0.8%)
- The markets opened higher and managed to sustain their gains.
- The rise was led broad-based buying with 48 of Nifty50 stocks closing in the green.
- Major global indices also were trading higher, hinting that the impact of the new virus variant on business activities could be milder.
- All Nifty sectoral indices closed in the green. Auto (+1.3%) and Oil & Gas (+1.1%) were the top gainers.
| Top gainers | Today's change |
| Sun Pharma | ▲ 3.0% |
| Asian Paints | ▲ 2.8% |
| M&M | ▲ 2.5% |
| Top losers | Today's change |
| Power Grid | ▼ 0.3% |
| IndusInd Bank | ▼ 0.2% |
| NA | NA |
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Here are the top stories of the day.
Get ready for 5G
In 2022, 5G services will be available in four metros and nine other cities of India. Interestingly, 5G internet speed could be 20 times faster than 4G.
Besides being beneficial for users, the rollout of 5G is likely to help the telecom companies to raise tariffs and thereby improve their average revenue per user (ARPU). Meanwhile, the shares of telecom ancillary service components like GTL, Tejas Networks and Sterlite Technologies ended up in the range of 2-5%
Tata-Siemens JV to develop part of Pune Metro
Siemens will develop a 23 km metro corridor for Pune Metro under a joint venture with a Tata group company. Shares of Siemens rose nearly 5% intraday.
The order size for Siemens is approximately ₹900 crore and the project will be completed in 39 months. Its project scope will mainly include project management, turnkey electrification, signalling and communications.
Maharashtra Seamless bags order from PSU
Seamless pipes maker has bagged an order for ₹150 crore from PSU Companies for supply of Electric Resistance Welded (ERW) and seamless pipes.
These pipes find application in oil exploration, pipelines, etc. The stock rose above 4% in the opening minutes of the trade but pared some gains later.
IPO corner
Shares of the active pharmaceutical ingredient maker Supriya Lifescience listed at a bumper premium of 54% against their issue price. This public issue was oversubscribed more than 70 times.
Meanwhile, Veeda Clinical Research has received a nod from SEBI for its ₹831 crore IPO. Similarly, Global Health, which runs hospitals under the brand name Medanta, has also been given a nod by the market regulator to tap the equity markets for raising funds.
Good to know
What is the customer acquisition cost?
Customer acquisition cost (CAC) is a business metric used to evaluate the cost of acquiring a new customer. It is calculated as sales and marketing expenses divided by the number of new customers. For example, if a business has acquired 100 new customers in a month and a total of ₹5,000 is spent on sales and marketing to acquire these new customers, the customer acquisition cost comes to ₹50 (₹5,000/100) per customer. Lower the CAC the better it is as it implies superior return on investment.
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