Stocks in Focus on September 23: Yes Bank, Chemcon Speciality, CAMS IPO, Indian Oil to HDFC Life; here are expected newsmakers of the day

Stocks in Focus on September 23: Indian indices closed in a red for the fourth straight session, on Tuesday, September 22, 2020, following weakness in global peers. The equity benchmark S&P BSE Sensex tumbled 300.06 points, or 0.79 per cent, to 37,734.08. Nifty 50 fell 96.90 points, or 0.86 per cent, to 11,153.65. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, September 23, 2020. List of such five stocks:

Triggers: Certain events, like Result, CreditAccess Grameen, GMM Pfaudler, flight refund case and AGM, can create positive/negative reactions in the share market when it opens today. Find them in detail:

Results: CreditAccess Gramin Ltd (Q1FY21)

CreditAccess Grameen: The Board of Directors of the company will meet today to consider and approve for the issue of equity shares through permissible mode(s) including but not limited to private offerings and/or follow on public offering and/or preferential issue and/or qualified institutions placement or any combination thereof. It will also consider and approve the financial results of the Company for the four months ended July 31, 2020.

GMM Pfaudler Ltd.: The offer for sale (OFS) of the company will open today for the retail investors. The non-retail quota was subscribed 1.02 times on Tuesday. The promoters of GMM Pfaudler seeks to offload around 25.71 lakh equity shares (representing approximately 17.59 per cent stakes) worth Rs 1,433 crore through the OFS with an option to additionally sell 15.22 lakh shares (10.41 per cent). The OFS price has been fixed at Rs 3,500 per share.
 
Flight Refund Case: Supreme Court is scheduled to hear the case of flight refund for flights tickets those were cancelled during the lockdown. 

AGM: Annual General Meeting of companies, namely Bharat Forge Ltd, Coal India Ltd, DLF Ltd, Endurance Technologies Ltd, Inox Leisure Ltd, Jagran Prakashan Ltd, JTEKT India Ltd, Va Tech Wabag Ltd, Westlife Development Ltd and Zensar Technologies Ltd, is scheduled to be held today.

See Zee Business Live TV streaming below:

IPO Update (Chemcon Speciality + CAMS + Angel Broking):

Chemcon Speciality Chemicals IPO Update: The Rs 318-crore IPO of Chemcon Speciality Chemicals was subscribed 12.62 times on the second day of bidding. The quota set for retail investors was subscribed 23.01 times, while the non-institutional investors (NIIs) quota was subscribed 3.51 times. The price band for sale has been fixed at Rs 338-340 per share. The public issue consists of a fresh issue of Rs 165 crore and offer for sale of up to 45,00,000 equity shares. 

CAMS IPO update: The Rs 2,244 crore public offer of the Computer Age Management Services (CAMS) was subscribed 1.93 times on Tuesday, the second day of subscription. The quota set for retail investors was subscribed 2.91 times; while the non-institutional investors (NIIs) quota was subscribed 1.22 times. The price band for the issue has been fixed at Rs 1,229-1,230 per share. Today is the last day for the subscription of the public issue. The company will raise Rs 2,244 crore through an offer for sale.

Angel Broking IPO Update: The Rs 600 crore public offer of Angel Broking has subscribed 76 per cent on the first day of the bidding process. The quota set aside for retail investors was subscribed 1.45 times, while the non-institutional investors (NIIs) quota was subscribed 0.16 times. Today is the second day of the IPO. The price band for the issue has been fixed at Rs 305-306 per share. The issue consists of a fresh issue of Rs 300 crore and an offer for sale (OFS) of Rs 300 crore.

Max Healthcare: Max Ventures Investment Holdings Private Limited intends to undertake an open market sale of Equity Shares of the Company as a step towards compliance with the requirement of minimum public shareholding. The promoters will sell 1.67 crore shares, approx. 1.85 per cent stakes, in the company. The divestment process will start on September 24, 2020, and will continue for the next seven days from here. 

Indian Oil: Indian Oil on Tuesday said that its board has approved the implementation of Petrochemical and Lube Integration Project at Indian Oil's Gujarat Refinery at an estimated cost of Rs. 17,825 crore. The project will not only increase the capacity of Gujarat Refinery from 13.7 MMTPA to 18 MMTPA but would also result in integration to petrochemicals with the production of 500 KTPA Polypropylene.

HDFC Life/ Yes Bank: HDFC Life has joined hands with Yes Bank to sell insurance policies to the bank's customers across the country.