Stock Market LIVE: Sensex Falls Over 370 Points, Nifty Declines 0.5% As HDFC Bank, RIL Shares Weigh

Emcure Pharmaceuticals Ltd.'s share price declined a day after Bain Capital, via its arm BC Investments IV Ltd., planned to sell shares worth Rs 492.7 crore in Emcure Pharma.

The firm sims to offer nearly 38 lakh shares, or 2% equity, at Rs 1,296.51 apiece, approximately 7% discount to Monday's closing price. BC Investments IV Ltd. held a 6.3% stake as of September, currently valued at Rs 1,660 crore. Kotak Securities Ltd. and Axis Capital Ltd. are the bookrunners for the deal.

PhysicsWallah Ltd. was listed at Rs 145 apiece or at a premium of 55% on National Stock Exchange Ltd. It was listed at Rs 143.1 apiece on BSE Ltd.

Zomato parent Eternal Ltd.’s shares have fallen 14–15% since the last quarterly results, even as the Sensex has risen 2% and peers such as Swiggy have declined about 12%. However, Morgan Stanley has reiterated its Overweight rating while raising its price target to Rs 427 from Rs 420, arguing that the recent correction offers an attractive entry point into what it sees as the best risk-reward play in the sector.

Groww's parent, Billionbrains Garage Ventures Ltd. share price surged nearly 40% since its listing last week. The market-cap of the newly-listed stock increased Rs 6,155 crore to Rs 11,368.61 crore as of 9:36 a.m.

The stock has been on gaining spree since it was listed on Nov 12. In Tuesday's session, it surged 11.09%.

The NSE Nifty Bank rose 0.11% to a new high of 59,026.85. The index was trading 0.03% higher at 58,996.5 as of 9:26 a.m.