Stocks in Focus on November 25: Siemens, Ingersoll-Rand, Sreeleathers Ltd., Muthoot Finance to Auto Companies; here are the 5 Newsmakers of the Day
Domestic indices closed at record high level with strong gains on Tuesday, November 24, 2020, tracking positive global cues on hopes for imminent Coronavirus vaccines. The S&P BSE Sensex rose 445.87 points or 1.01 per cent to 44,523.05. The Nifty 50 index advanced 128.70 points or 1 per cent to 13,055.15
Domestic indices closed at record high level with strong gains on Tuesday, November 24, 2020, tracking positive global cues on hopes for imminent Coronavirus vaccines. The S&P BSE Sensex rose 445.87 points or 1.01 per cent to 44,523.05. The Nifty 50 index advanced 128.70 points or 1 per cent to 13,055.15. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, November 25, 2020. List of such five stocks:
Siemens+ RT PCR test
Siemens: The board of directors of Siemens Ltd is scheduled to meet today to consider and approve the audited financial results for the Financial Year ended September 30, 2020. It will also consider the recommendation of a Dividend on Equity Shares if any.
RT PCR Test: According to the latest standard operating procedure (SOP) issued by Maharashtra government to prevent the spread of COVID in Maharashtra, all domestic passengers travelling from airports, railway and by road from Delhi NCR, Rajasthan, Gujarat and Goa shall carry RT PCR negative test report with them before starting their journey. The State Government has asked the concerned authorities to check for the report before allowing the passengers to begin the journey. The SOPs will be effective from today, November 25, 2020.
Ingersoll-Rand: Ingersoll-Rand’s offer for sale (OFS) was subscribed 2.7 times by non-retail investors on Tuesday, November 24, 2020. Bids for 12.8 lakh shares were made against bids for a total of 35 lakh shares. The OFS opens for retail investors today. The floor price for the Sale shall be Rs. 578.60 per Equity Share. 12% discount on the Cut-Off Price of Monday is being offered to Retail Investors.
Sreeleathers Ltd.: The board of directors of the company on Tuesday approved buyback of its fully paid-up equity shares at Rs 160 per equity share for a maximum amount of Rs 32 crore.
Muthoot Finance Limited: Muthoot Finance on Tuesday said Reserve Bank of India didn't accede to its proposed acquisition of IDBI Mutual Fund. It said, the company’s request for a no-objection certificate was not acceded to by the Reserve Bank of India on the ground that, the activity of sponsoring a Mutual Fund or owning an Asset Management Company is not in consonance with the activity of an operating NBFC.
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Auto Companies in Focus (Maruti/Tata Motors): The government is likely to announce eligibility criteria for vehicle makers to qualify for subsidies under the production-linked incentive (PLI) scheme. The qualifying parameters for Indian automobile makers may include minimum annual exports of Rs 1,000 crore from India. The multinational corporations will have to show an annual global revenue of Rs 10,000 crore in addition to the export's criterion for their local units to avail of the subsidies. Moreover, the vehicles and components exported should have around 80% locally sourced parts and materials to satisfy the exports criterion.
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