Stocks in Focus on April 9: Macrotech Developers IPO, Bharti Airtel, Coal India, Siemens to Infosys; here are the 5 Newsmakers of the Day
Domestic stocks markets erased the early gains on Thursday, April 8, 2021, and closed with minor gains. The early gains were trimmed by the last-hour sell-off in the banking and financial stocks
Domestic stocks markets erased the early gains on Thursday, April 8, 2021, and closed with minor gains. The early gains were trimmed by the last-hour sell-off in the banking and financial stocks. The S&P BSE Sensex gained 84.45 points or 0.17 per cent to 49,746.21. The Nifty 50 index rallied 54.75 points or 0.37 per cent to 14,873.80. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, April 9, 2021. List of such five stocks:
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Macrotech Developers IPO: Macrotech Developers initial public offering (IPO) was subscribed 35% on the second day of subscription, i.e. Thursday, April 8, 2021. The retail portion of the offer was subscribed 25%, while QIB and NII portions were subscribed 65% and 19%, respectively. The employee portion was subscribed 10%. Today is the third and last day for a subscription. The IPO has a price band of Rs 483-486 per share. The real estate developer seeks to raise Rs 2,500 crore through the fresh issuance of shares.
Bharti Airtel: The Department of Telecom on Thursday moved the Supreme Court seeking to recover Videocon Telecommunications’ adjusted gross revenue (AGR) dues of Rs 1,376 crore from Bharti Airtel. DoT had raised the demand to Bharti Airtel to pay AGR dues of Videocon, which had traded its entire spectrum to Airtel in 2016. On the other hand, the teleco, Airtel, had questioned the DoT’s demand and said that Airtel cannot be held liable for the past dues of Videocon’s.
Coal India: Coal India Ltd (CIL) had incurred its highest ever capital expenditure of Rs 13,115 crore in the financial year 2020-21 (FY21). The expenditure has almost doubled compared to the previous year’s CapEx of Rs 6,270 crore. CIL’s original sanctioned CapEx budget was Rs 10,000 crore for FY21.
Siemens/Ashok Leyland: Siemens Limited has signed a Memorandum of Understanding (MOU) with Switch Mobility Automotive Limited to jointly address the need of electric commercial vehicle customers and execute E-Mobility Projects in India. Switch Mobility is forged from the EV capabilities of Ashok Leyland and Optare.
Infosys + Zensar
Infosys: ArcelorMittal and Infosys have announced a strategic collaboration for digital transformation.
Zensar Technologies: Zensar has entered into a global strategic partnership with US-based Claimatic for automation services.
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