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Business News » Markets News

Stocks in Focus on April 8: Macrotech Developers IPO, Hindustan Copper, Andrew Yule, Godrej Consumer Products to Pharma Stocks; here are the 5 Newsmakers of the Day

The Sensex and the Nifty on Wednesday, April 7, 2021, gained around one per cent amid mixed global cues. The S&P BSE Sensex surged 460 points, or 0.94 per cent, to close at 49,662. The Nifty at National Stock Exchange also climbed 136 points, 0.92 per cent, to finish at 14,819. 

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Stocks in Focus on April 8: Macrotech Developers IPO, Hindustan Copper, Andrew Yule, Godrej Consumer Products to Pharma Stocks; here are the 5 Newsmakers of the Day
Certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, April 8, 2021. Source: PTI
Reported By: Jitesh Kumar Jha
Written By: Jitesh Kumar Jha
Updated: Thu, Apr 08, 2021
08:28 am
Patna, ZeeBiz WebDesk
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The Sensex and the Nifty on Wednesday, April 7, 2021, gained around one per cent amid mixed global cues. The S&P BSE Sensex surged 460 points, or 0.94 per cent, to close at 49,662. The Nifty at National Stock Exchange also climbed 136 points, 0.92 per cent, to finish at 14,819. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, April 8, 2021. List of such five stocks:

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Macrotech Developers IPO: Macrotech Developers initial public offering (IPO) was subscribed 0.26 times on the first day of subscription, i.e. Wednesday, April 7, 2021. The retail portion of the offer was subscribed 0.15 times, while QIB and NII portions were subscribed 0.58 times and 0.11 times, respectively. Today is the second day for a subscription. The IPO has a price band of Rs 483-486 per share. The real estate developer will raise Rs 2,500 crore through the fresh issuance of shares.

Vedanta Open Offer + Hindustan Copper QIP

Vedanta: Anil Agarwal-controlled Vedanta Resources bid to buy back 65 crore shares (17% equity) in its Indian subsidiary Vedanta Ltd closed on Wednesday with total bids of 37.42 crore shares (57.49% equity). The open offer was available at Rs 235 per share, which is 47% higher than the Rs 160 offered in January. The open offer started on March 23, 2021.
Hindustan Copper: The state-owned company has launched its qualified institutional placement (QIP) at a floor price of Rs 125.79, which is at a 15.5% discount on Wednesday’s closing price of Rs 145.25 on NSE. The board is scheduled to meet on April 12, 2021, to consider and approve the issue size and price.  

Andrew Yule: The government is preparing to sell its stakes in Andrew Yule, sources aware of the development informed Zee Business. According to the sources, DIPAM and NITI Aayog discussed divestment of all businesses of Andrew Yule as the government has plans to sell all the business of the company, namely tea, electrical, engineering and lubricant business, separately. The company also has the business of digital communication. The government owns 89% stakes in Andrew Yule and it has asked SBI Capital to prepare a report on the disinvestment of the company. 

Godrej Consumer Products: It expects that the sales growth trend in all categories of its operation was strong in Q4FY21. It expects to deliver sales growth in the mid-20% range and around 30% in the domestic market, i.e. India. Strong sales growth and calibrated price increases are expected to perform well. The company expects gradual recovery with mid-single digits constant currency sales growth in Indonesia. In Godrej Africa, USA and the Middle East, growth momentum continued across most of our key countries of operations. It expects to deliver constant currency sales growth close to the thirties.

Cipla/Dr Reddy/Cadila/Sun Pharma: The government on Wednesday said that all seven manufacturers of remdesivir in the country have been asked to ramp up production to full capacity by next week. The direction comes against reports of shortages of the critical drug. Remdesivir is considered a key antiviral drug in the fight against COVID-19, especially in adult patients with severe complications. Seven companies in India produce remdesivir and they have a monthly production capacity of 31 lakh vials.

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