Paras Defence IPO, Varun Beverages to PSE Stocks - here are top Buzzing Stocks today
At 12:35 pm, the S&P BSE Sensex was trading 75.77 points or 0.13% down at 58,415.16, while the Nifty 50 was trading 6.25 points or 0.04% lower at 17,390.65.
Domestic stock markets were trading in red on Tuesday’s noon deals. At 12:35 pm, the S&P BSE Sensex was trading 75.77 points or 0.13% down at 58,415.16, while the Nifty 50 was trading 6.25 points or 0.04% lower at 17,390.65. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:
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Paras Defence IPO: The Rs 170.7 crore initial public offering (IPO) of Paras Defence and Space Technologies Limited which opened today for bidding was subscribed 7.07 times by 12:21 pm. The subscription will close on Thursday, September 23, 2021. The price band for the issue of the Mumbai-based defence company has been fixed at Rs 165-175 per share. The issue comprises a fresh issue of Rs 140.6 crore by the company and an offer for sale of up to 17,24,490 equity shares worth Rs 30 crore by existing shareholders including Paras Defence promoters. Retail investors can subscribe to the IPO by placing bids in the lot of 85 equity shares and multiples of 85 thereafter.
Stocks in News
Lincoln Pharmaceuticals: Up 0.65%. 'Lincoln Pharmaceuticals Ltd plans to launch Cephalosporin products soon. Acquires a plant in Mehsana, Gujarat.' Investment in Cephalosporin plant for Rs 30 crore including core capacity. expansion and modernisation of the facility. Acquisition and further CAPEX will be funded from internal accruals. The company expects commercial operations from March 2022. The plant is expected to contribute sales of around Rs 150 crore in the next 3 years. The plant will cater to all the Cephalosporin products i.e., Tablet, Capsule, Dry syrup and Injectable.
Cadila Healthcare: Up 0.08%. Zydus Healthcare Limited, a wholly-owned subsidiary of the Company has entered into an agreement on Monday with Integrace Private Limited to sell two brands viz. Mifegest and Cytolog.
Kitex Garments: Up 1.56%. The Company has signed the Memorandum of Understanding (MoU) with Telangana Government for capacity expansion. As per the MoU, the company will be investing Rs 2,406 crores in the state. The investment of Rs 1,113 crore is planned at Kakatiya Mega Textile Park, Warangal and Rs 1,293 crore at the Industrial Park, Sitarampur, Rangareddy District.
Action Construction Equipment: Up 0.28%. The board on Tuesday approved the opening of its Qualified Institutions Placement (QIP) worth Rs 175 crore. The floor price has been fixed at Rs 254.55 per share for the offer, at a premium of 2.6% over Monday’s closing price of Rs 248.05. The company may offer a discount of not more than 5% on the floor price so calculated for the Issue. Besides, the Qualified Institutions Placement Committee is scheduled to meet on September 23, 2021, to consider and approve the Issue price, including a discount.
BLS International: Down 6.38%. The company has been selected as National Business Correspondent for India’s largest bank, State Bank of India to deliver banking services in urban, semi-urban and rural areas across the country. BLS International shall deliver last-mile banking services to support the financial inclusion mission of the Government of India.
SBI Cards: Down 3.45%. Private equity firm Carlyle Group is looking to offload a 3.4% stake (around 3.2 crore shares) in SBI Cards and Payment Services worth $443 million (Rs 3,267.2 crore). The sale price has been fixed at Rs 1021 to Rs 1072 apiece, which is at a discount of 4.6% than Monday’s closing price of Rs 1071.70 at the BSE. As of March 31, 2021, CA Rover Holdings held a 6.50 per cent stake in the company.
Cyient: Down 1.33%. Cyient Joins TM Forum to collaborate with global Communication Service Providers (CSPs) to drive digital transformation in the communications industry.
Pfizer: Down 0.68%. The company on Monday said that its COVID-19 vaccine works for children ages 5 to 11. The vaccine was found safe for children during the clinical trials.
Nestle: Down 0.76%. Suresh Narayanan, chairman and managing director of food and beverage major Nestle India has said that 2022 clearly seems to be a difficult year due to an increase in commodity prices. Globally, coffee and edible oil prices have led to cost escalation of 4-5%. The company has raised prices by 1-3 per cent (depending upon categories). According to Narayanan, growth in e-commerce is gradually coming down, while modern trade has begun to show traction with people on the move.
Yes Bank: Down 0.78%. The private lender had announced its partnership with Visa as a payment processor to offer its customers credit cards and enhance payment efficiency. The partnership has nine credit card variants on the Visa platform that service all segments.
L&T: Down 0.14%. Larsen & Turbo Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has bagged two orders in the Construction Services segment - one each from GAIL India and Air Products Middle East Industrial Gases LLC.
HDFC: Down 0.09%. HDFC, India’s premier housing finance company, today unveiled its special limited period offer for the upcoming festival season. Under this special offer, customers can avail of HDFC Home Loan starting at 6.70% pa effective September 20, 2021. This Offer will be applicable to all new loan applications irrespective of the loan amount or employment category. The special rate is linked to the borrower’s credit score. This is a close-ended scheme and will be valid till October 31, 2021.
Kolte Patil: Up 4.10%. PGIM India Mutual Fund bought 5,00,000 shares at Rs 314.36/ share.
Windlas Biotech: Down 1.80%. Kuber India Fund sold 113,468 shares at Rs 379.73/ share.
Varun Beverages: Up 6.42%.
Inox Leisure: Up 3.65%.
RPG Life: Up 6.37%.
PVR: Up 3.81%.
Indus Tower: Up 2%.
Escorts: Up 2.19%.
Info Edge: Up 2.22%.
IndusInd Bank: Up 1.25%.
HAL: Up 1.06%.
GSFC: Up 2.84%.
GNFC: Up 2.51%.
Grasim: Up 0.94%.
KEC International: Up 3.87%.
Real Estate Stocks: Moving up. Stocks like Prestige Estate – up 6.01%; IB Real Estate – up 2.75%; Godrej Properties – up 3.29%; DLF – up 0.48% and Sobha Ltd. – up 0.85% were trading with gains.
PSE Stocks: Moving up. Stocks like Oil India – up 3.18%; ONGC - up 3.23%; Nalco – 1.57%; and BEL – up 1.41% were trading with gains.
Losers among recently IPOs
Easy Trip Planners: Down 2.82%.
Macrotech Developers: Down 3.12%.
CAMS: Down 3.93%.
UTI AMC: Down 3.19%.
Stocks at Life High
HCL Technologies: Up 0.63%. Meanwhile, the stock hit the life high of Rs 1,315 per share earlier in the intraday trade.
HUL: Up 0.85%. Meanwhile, the stock hit the life high of Rs 2,859.30 per share earlier in the intraday trade.
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