Stocks in Focus on December 4: Metal Stocks, HDFC AMC to Eris Lifesciences; here are the 5 Newsmakers of the Day
CSB Bank: Shares of the Kerala-based private lender CSB Bank will be listed on BSE and NSE today. The bank's IPO, which was open between November 22-26, 2019, was subscribed a whopping 87 times by all kinds of investors.
Tracking weak cues from the global markets, the key equity barometers on Tuesday, December 3, 2019, ended in a negative zone. But certain stocks came in news after the market was closed for trading purposes. These stocks can have an impact on the indices when it reopens for trading purposes on Wednesday, December 4, 2019. Here is a list of five such stocks:
Metal Stocks: Metal stocks will be in focus today as President Trump on Tuesday said he may delay the trade deal with China till after the 2020 US Presidential election. He said that there is no deadline to sign the phase 1 deal.
CSB Bank: Shares of the Kerala-based private lender CSB Bank will be listed on BSE and NSE today. The bank's IPO, which was open between November 22-26, 2019, was subscribed a whopping 87 times by all kinds of investors. The portion set aside for qualified institutional buyers (QIBs)was subscribed 62.18 times, non-institutional investors (HNI) 164.68 times, and retail investors at 44.53 times. The CSB Bank is likely to be listed at Rs195 apiece.
Ujjivan Small Finance Bank IPO update: Today is the third and last day for the subscription of Ujjivan Small Finance Bank's IPO. The public issue was oversubscribed by 4.86 times on the second day of bidding on December 3. The company has fixed a price band at Rs 36-37 per share for the IPO.
HDFC Asset Management Company (AMC): Standard Life Investments Ltd will offload 2.34% stake (47.5 lakh equity shares) in the fund house on December 4-5, 2019 (for Institutional Investors on December 4 and Retail Investors on December 5). Standard Life Investments Ltd is one of the promoters of HDFC AMC. The floor price for the sale has been set at Rs3,170 per equity share. The promoter will raise Rs1,505.75 crore through the deal.
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Eris Lifesciences: The Indian drugmaker on Tuesday announced it had acquired the trademark for anti-diabetes drug Zomelis from Novartis for $13 million. The acquisition of the trademark from Novartis AG is only for the Indian market from December 10 onward. Zomelis is used to treat type 2 diabetes and comes under a new class of anti-diabetic drugs known as DPP-4 inhibitors.
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