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Stocks in Focus on December 6: Anand Rathi IPO, Tech Mahindra, NMDC, Cheviot, Tata Motors and many more
The equity benchmarks, Sensex and the Nifty, on Friday, December 3, 2021, tumbled more than one per cent.
The equity benchmarks, Sensex and the Nifty, on Friday, December 3, 2021, tumbled more than one per cent. Both indices fell even as the cues from the global stocks were positive. The BSE Sensex plunged 765 points, or 1.31% to end at 57,696.46. The NSE Nifty 50 also declined 205 points, or 1.18%, to settle at 17,196.70. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, December 6, 2021. List of such five stocks:
IPO Update: Anand Rathi IPO + Tega Industries IPO
Anand Rathi IPO: The Rs 660 crore initial public offering (IPO) of Anand Rathi Wealth Limited, the wealth management arm of Anand Rathi Financial Services, was subscribed 3.02 times on the second day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.17 times while the Non Institutional Investors and Retail Individual Investors (RIIs) portions were subscribed 3.06 times and 4.77 times, respectively. Today is the last day for the subscription of the issue. The price band of the issue has been fixed at Rs 530-550 per share. Retail investors can place a bid for a lot of 27 equity shares and in multiples thereof. The initial share sale is entirely an offer for sale (OFS) of 1.2 crore equity shares (including Anchor portion of 35,25,000 equity shares) by promoters and existing shareholders.
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Tega Industries IPO: The Rs 619 crore leading polymer-based mill liners producer Tega Industries Limited initial public offering (IPO) was subscribed 219 times on the third and the last day of subscription. The Qualified Institutional Buyers (QIBs) portion was subscribed 215 times (the Highest QIB subscription in the last decade). The Non Institutional Investors and Retail Individual Investors (RIIs) portion were subscribed 666 times and 29 times, respectively. The price band for the initial public offering worth was fixed at Rs 443-453 per equity share. Retail investors were able to place a bid for a lot of 33 equity shares and in multiples thereof for a maximum of 13 lots. Retail investors can invest a minimum of Rs 14,949 for a single lot, and their maximum investment would be Rs 1,94,337 for 13 lots.
Tech Mahindra: The company has announced that it has acquired a 100% stake in Activus Connect, a leading provider of work at home customer experience management solutions. Tech Mahindra will pay total consideration of up to USD 6.2 crore including earnouts for the acquisition. The acquisition will bolster Tech Mahindra’s capabilities in emerging workplace solutions and strengthen the end-to-end CX portfolio.
NMDC: The Board of Directors of the Company has approved an interim dividend of Rs 9.01 per equity share of the face value of Re 1 each for the financial year 2021-22. It has fixed December 15, 2021, as the record date for the purpose of payment of interim dividend.
IGL: Indraprastha Gas Limited (IGL) has hiked CNG prices in Delhi, Haryana and Rajasthan from December 4, 2021.
Lupin: Global pharma major, Lupin Limited has announced that it has entered into an exclusive distribution and marketing agreement with Biomm SA in Brazil. Under the terms of the agreement, Biomm will distribute and market biosimilar Pegfilgrastim in Brazil. Pegfilgrastim is indicated to reduce the duration of neutropenia and the Incidence of febrile neutropenia in patients receiving chemotherapy.
Eris Lifesciences: Drugmaker Eris Lifesciences has said that it has formed a joint venture with Mumbai-based MJ Biopharm Private Limited for expansion of product portfolio to offer biotherapeutic options to the patients in the cardio-metabolic segment. Under the 70:30 joint venture, Eris will hold a 70% stake while the remaining 30% stakes will stay with MJ Biopharm. Eris now bridges an important gap in its diabetes care portfolio through the joint venture with MJ Biopharm.
Vodafone Idea: The telecom in its clarification to the news item published in a national daily on getting back the bank guarantees from DoT said it has not received any bank guarantees from DoT. It added that the reform package announced by the government on September 15, 2021, reads "there are no requirements for multiple Bank Guarantees (BGs) in different Licenced Service Areas (LSAs) regions in the country. Instead, One BG will be enough."
Force Motors: Force Motors in its November 2021 production, sale and export data said that it has produced 1,135 units of vehicles in November 2021 as against 2,044 units produced in October 2021. It sold 772 units of vehicles in the domestic market against 1,173 units sold in the previous month. It exported 362 units in November 2021 as against 565 units exported in October 2021.
Cheviot: The Board of Directors of Cheviot Company Ltd on Saturday approved a proposal for Buy-Back of up to 2,50,000 fully paid-up ordinary shares of the company at a price of Rs 1,725 per ordinary share ('Buy-Back Price') payable in cash for an aggregate amount of up to Rs 43,12,50,000. It has fixed Friday, December 17, 2021, as the 'Record Date' for the purpose of determining the members/beneficial owners ("Shareholders") who shall be entitled to participate in the Buy-Back offer of the Company.
Tata Motors: Tata Motors, Honda and Renault (reportedly) will increase vehicle prices from January 2022 to offset the impact of input costs that are continuing to increase.
PFS: PTC India Financial Services Limited (PFS) has announced that it shall receive its share of around Rs 125 Crore as part of the total resolution amount from one of its stressed loan accounts in the thermal segment namely the 2x600 MW coal power plant located at Cuddalore District in Tamil Nadu. The instant project has been implemented by IL&FS Tamil Nadu Power Company Ltd. (ITPCL). PFS had sanctioned a total loan of Rs. 200 crores under consortium arrangement to ITPCL for implementing the instant project.
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