Stocks in Focus on October 1: CAMS, Chemcon Speciality, INOX, ONGC to Reliance Industries, here are the 5 Newsmakers of the Day
Benchmark domestic stocks Wednesday, September 30, 2020, gained marginally even as global markets were negative. The Sensex at Bombay Stock Exchange climbed 95 points, or 0.25 per cent, to close at 38,068. The Nifty at National Stock Exchange also added 25 points, or 0.22 per cent, to settle at 11,248. But certain stocks came in news after the market was closed
Benchmark domestic stocks Wednesday, September 30, 2020, gained marginally even as global markets were negative. The Sensex at Bombay Stock Exchange climbed 95 points, or 0.25 per cent, to close at 38,068. The Nifty at National Stock Exchange also added 25 points, or 0.22 per cent, to settle at 11,248. But certain stocks came in news after the market was closed. These stocks can impact indices when These stocks can impact the indices when it reopens on Thursday, October 1, 2020. List of such five stocks:
Triggers: Certain events, like Nifty/bank nifty weekly expiry, auto September sales, CAMS and Chemcon listing, Sumitomo chemical and import duty on open cells, can create positive/negative reactions in the share market when it opens today. Find them in detail:
Weekly Expiry: The weekly index options will expire on Nifty and Bank Nifty, today.
Auto companies: Auto Companies will release sales data of September 2020.
CAMS & Chemcon Speciality: The shares of these two companies will be listed on the bourses today. CAMS was subscribed 47 times, while Chemcon Speciality was subscribed 149 times.
Sumitomo Chemical: The open for sale (OFS) of the company will open for retail investors today. The non-retail quota was subscribed 2.5 times. The promoters of Sumitomo Chemical on Tuesday announced its plan to offload 3.3 per cent stakes (1.64 crore shares) of the company. The floor price for the OFS has been set at Rs 270 per share.
Import duty on open cells: 5 per cent import duty is likely to be slapped on import of open cells that are used in the manufacturing of TVs.
IPO Subscription Update: Mazagon Dock Shipbuilders, UTI AMC and Likhita Infrastructure
Mazagon Dock Shipbuilders: The Rs 444-crore public offer of Mazagon Dock Shipbuilders was subscribed 4.32 times on the second day for subscription. The price band for the issue has been fixed at Rs 135-145 per share. The IPO subscription will close on today.
UTI Asset Management Company: The Rs 2,160 crore public issue of UTI AMC was subscribed 0.56 times on the second day of subscription. The price band for the issue is fixed at Rs 552-554. The IPO subscription will close today.
Likhita Infrastructure: The Rs 61.20 crore initial public offer of Likhita Infrastructure was subscribed 2.10 times on the second day of the bidding process. The price band for the issue has been fixed at Rs 117-120. The IPO will close today.
PVR/INOX: Home Ministry has issued Unlock 5 guidelines for opening up of more activities in areas outside the Containment Zones. Cinemas, theatres and multiplexes will be permitted to open with up to 50 per cent of their seating capacity from October 15, 2020, in areas outside the Containment Zones.
ONGC: The government on Wednesday slashed natural gas prices by 25% to USD 1.79 per million British thermal units from USD 2.39 per million British thermal units. The prices have been reduced a period of six months starting from October 1, 2020. The prices will be in effect until March 31, 2021. This is the third straight reduction in rate in one year.
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Reliance Industries: Co-investors of Silver Lake will invest an additional Rs 1,875 crore into Reliance Retail Ventures Limited (“RRVL”), a subsidiary of Reliance Industries. This brings the aggregate investment by Silver Lake and its co-investors in RRVL to Rs 9,375 crore, which will translate into a 2.13 per cent equity stake in RRVL on a fully diluted basis.
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