Stocks in Focus on December 3: Burger King IPO, Bharti Airtel, HDFC Life, Axis Bank to GNFC; here are the 5 Newsmakers of the Day
Key domestic indices on Wednesday, December 2, 2020, closed almost flat after a volatile session. Sensex fell 37.40 points or 0.08 per cent to end at 44,618.04 while the NSE Nifty 50 index added 4.70 points or 0.04 per cent to settle at 13,113.75. But certain stocks came in news after the market was closed
Key domestic indices on Wednesday, December 2, 2020, closed almost flat after a volatile session. Sensex fell 37.40 points or 0.08 per cent to end at 44,618.04 while the NSE Nifty 50 index added 4.70 points or 0.04 per cent to settle at 13,113.75. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, December 3, 2020. List of such five stocks:
Burger King IPO: The Rs 810 crore initial public offering (IPO) of Burger King India, a fast-growing international Quick Service Restaurant (QSR) chain in India, was subscribed 3.13 times on the first day of subscription. The quota set for QIB was subscribed 0.17 times, while the portion set for non-institutional investors (NII) was subscribed 0.71 times. The quota set for retail investors was subscribed 15.54 times. The price band of the issue is fixed at Rs 59-60 per share. Today is the second day for subscription and the offer will close tomorrow, December 4, 2020.
Bharti Airtel/ Bharti Infratel: Bharti Airtel on Wednesday announced that its wholly-owned subsidiary Nettle Infrastructure Investments Limited has acquired an additional equity stake of 4.94% in Bharti Infratel Limited for Rs 2,882.32 crore via block deals. With this acquisition, Airtel and Nettle equity stake in Infratel has increased to 41.66% from 36.73% in Infratel. Also, Nettle Infrastructure’s stakes in Infratel has increased to 18.62%.
HDFC Life: Standard Life, one of the promoters of HDFC Life Insurance Company is looking to sell up to 2.78 crore shares of the insurance company through a block deal today. The sale price has been fixed at Rs 605-636.50 apiece, almost 5% discount to Wednesday’s closing price of Rs 636.70. With this, Standard Life’s stakes on HDFC Life will decrease to 8.88% from existing 10.27%. Standard Life sold 4 crore equity shares of HDFC Life worth Rs 1,890 crore through a similar offer in June.
Axis Bank (Reports): The government through Specified Undertaking of The Unit Trust of India’s (SUUTI) has offloaded 36.25 lakh shares in private lender Axis Bank on November 26-27, 2020. With this, the government’s stake has come down to 4.12 per cent from 4.24 per cent in the lender.
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GNFC: Government has imposed provisional anti-dumping duty on imports of Toluene Di-isocyanate (TDI) having isomer content in the ratio of 80:20. The anti-dumping duty has been imposed on imports from the European Union, Saudi Arabia, Chinese Taipei and UAE, for six months beginning December 2.
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