Stocks in Focus on November 26: Siemens, Ingersoll-Rand, Lakshmi Vilas Bank to Kesoram Industries; here are the 5 Newsmakers of the Day
Key domestic indices on Wednesday, November 25, 2020, plunged more than one and a half per cent amid mixed global markets. The BSE 30-share index, Sensex tumbled 695 points or 1.56 per cent to settle at 43,828. The NSE Nifty-50 index also declined 197 points or 1.51 per cent to settle at 12,858. But certain stocks came in news after the market was closed
Key domestic indices on Wednesday, November 25, 2020, plunged more than one and a half per cent amid mixed global markets. The BSE 30-share index, Sensex tumbled 695 points or 1.56 per cent to settle at 43,828. The NSE Nifty-50 index also declined 197 points or 1.51 per cent to settle at 12,858. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, November 26, 2020. List of such five stocks:
November series expiry, RrailTel Corporation and NSE
November Series Expiry: The November 2020 F&O contracts will expire today, on November 26, 2020.
RailTel Corporation of India Limited: IPO price band of the mini Ratna PSU, RailTel Corporation is likely to be announced today.
NSE: National Stock Exchange (NSE) may increase its Investor Protection Fund (IPF) corpus to Rs 1,200 crores in order to protect the interests of investors in light of the recent broker defaults. Zee Business has exclusively reported the story.
Siemens: Technology major Siemens on Wednesday reported a 1.2 per cent fall in the standalone profit at Rs 327 crore for the quarter ended September 30, 2020. It had posted a net profit of Rs 331 crore in the same period last year. Revenue from operations dropped 9% to Rs 3,519 crore against Rs 3,875 crore posted last year. EBITDA stood at Rs 452 crore, up 6% from Rs 428 crore posted last year. The margins remained almost flat at 11% in Q4FY20 against 11.05% posted in Q4FY19. The company follows October-September financial year. The company’s board recommended a dividend payment of Rs 7 per equity share of Rs 2 each for the financial year ended September 30, 2020. Besides, the company has won new orders worth Rs 3,220 crore in the fourth quarter. The total orderboook stands at Rs 12,800 crore.
Ingersoll-Rand OFS Update: Ingersoll-Rand’s offer for sale (OFS) was subscribed 13.16 times by the retail investors on Wednesday, November 25, 2020. Bids for 1.42 lakh shares were made against 18 lakh shares which were kept for bid. The parent company seeks to sell 4.52 per cent of the total issued and paid-up equity share capital of the company and the floor price for the sale was decided at Rs 578.60 per Equity Share.
Lakshmi Vilas Bank: Equity shares of Lakshmi Vilas Bank Ltd shall not be available for trading from Thursday, November 26, 020. Circulars related to this were issued on both the Bombay Stock Exchange and National Stock Exchange. Earlier, the Reserve Bank of India (RBI) has issued a press release saying all branches of the Lakshmi Vilas Bank Ltd. will function as branches of DBS Bank India Ltd. from November 27, 2020. Thus, the customers, including depositors of the Lakshmi Vilas Bank Ltd will be able to operate their accounts as customers of DBS Bank India Limited with effect from November 27, 2020. The moratorium on Lakshmi Vilas Bank Ltd will cease to be operative from that date. RBI issued the notification after cabinet approval.
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Kesoram Industries: The Board of Directors of the Company is scheduled to meet on November 30, 2020, to consider and approve the proposal to raise funds either through the issue of Non-Convertible Debentures (NCDs) or preferential shares.
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