Stocks in Focus on October 22: Hemisphere Properties, Equitas Small Finance Bank, Bajaj Finserv, Vedanta to DLF; here are the 5 Newsmakers of the Day
Equity benchmarks on Wednesday, October 21, 2020, logged modest gains amid mixed global cues. The key indices added mainly due to surge in Realty, Telecom and Metal sector stocks. The Sensex and Nifty, both gained for the fourth session in a row. The BSE 30-share index, Sensex gained 163 points or 0.4 per cent to settle at 40,707
Equity benchmarks on Wednesday, October 21, 2020, logged modest gains amid mixed global cues. The key indices added mainly due to surge in Realty, Telecom and Metal sector stocks. The Sensex and Nifty, both gained for the fourth session in a row. The BSE 30-share index, Sensex gained 163 points or 0.4 per cent to settle at 40,707. The NSE Nifty-50 index also rose 41 points or 0.34 per cent to settle at 11,938. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, October 22, 2020. List of such five stocks:
Triggers: Certain events, like Result and Hemisphere Properties, can create positive/negative reactions in the share market when it opens today. Find them in detail:
Nifty: Bajaj Auto, Asian Paints
F&O: Ambuja Cement, L&T Fin Holdings, Biocon, Bharti Infratel
Hemisphere Properties India: Hemisphere Properties, formed after the demerger of land bank arm of Tata Communications', will list today.
Equitas Small Finance Bank IPO Update: The Rs 518 crore initial public offer (IPO) of Equitas Small Finance Bank (SFB) was subscribed 67% on the second day of the bidding process. Today is the last day for the subscription of the public issue. The quota set aside for retail investors was subscribed 11.42 times, while the non-institutional investors (NII) quota was subscribed 0.05 times. The quota reserved for the qualified institutional buyer (QIB) was subscribed 0.05 times. The price band for the issue is fixed at Rs 32-33 per share. The public offering comprises fresh issue of 8.5 crore shares worth Rs 280 crore and the offer for sale of 7.2 crore shares by Equitas Holdings Limited. Equitas Small Finance Bank is the wholly-owned subsidiary of NBFC Equitas Holdings. Post the IPO, the stake of Equitas Holdings Limited will decline to about 82 per cent from 95.49 per cent earlier.
Bajaj Finserv Ltd. (BFL): The financial services company Bajaj Finserv on Wednesday reported an 18.1% quarter-on-quarter fall in consolidated profit at Rs 986.22 crore for the quarter ended September 30, 2020. It had posted a consolidated profit of Rs 1,203.70 crore in the quarter ended June 30, 2020. Consolidated revenue from operations increased 5.8% QoQ to Rs 15,049.50 crore as against Rs 14,221.86 crore. Life insurance posted 24% Growth in profit and general Insurance Posted 46% Growth in PAT. Overall profit was dragged down by the pandemic-hit consumer durable finance business because of high provisioning. Impact on Profitability: BFL has further increased its provisions on stage 1 and 2 assets by Rs 1,370 crore to Rs 5,099 as of September 30, 2020. Performance of other subsidiaries: Bajaj Allianz General Insurance’s Gross written premium for Q2 FY21 stood at Rs 4,156 crore v/s Rs 4,279 crore in Q2 FY20. Life Insurance premium recorded growth of 11 % in the new business premium.
Vedanta Limited: A meeting of the Board of Directors of Vedanta Limited is scheduled to be held on Saturday, October 24, 2020, to consider and approve First Interim Dividend on equity shares, if any, for the Financial Year 2020-21. The record date to determine the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Saturday, October 31, 2020.
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DLF: DLF inks one of the largest deals in Commercial Real Estate in 2020 for an upcoming project DLF Downtown, Taramani with Standard Chartered GBS. The company has inked an anchor lease deal of 7.7 lakh sq ft with Standard Chartered GBS for an upcoming office project at DLF Downtown, Chennai. Standard Chartered will build its largest office at a cost of at an investment of Rs 450 crore.
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