Stocks in Focus on January 15: SAIL, Tata Steel Long Products, Bharti Airtel, Godrej Agrovet to Indiabulls Housing Finance; here are the 5 Newsmakers of the Day
The domestic equity benchmarks reversed early losses and ended with decent gains on Thursday, January 14, 2021. The S&P Sensex gained 91.84 points, or 0.19 per cent, to close at 49,584.16. The Nifty 50 index closed 30.75 points, or 0.21 per cent higher at 14,595.60. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday
The domestic equity benchmarks reversed early losses and ended with decent gains on Thursday, January 14, 2021. The S&P Sensex gained 91.84 points, or 0.19 per cent, to close at 49,584.16. The Nifty 50 index closed 30.75 points, or 0.21 per cent higher at 14,595.60. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, January 14, 2021. List of such five stocks:
SAIL: The offer for sale (OFS) of SAIL will open for subscription for the non-retail investors today. It opened for the non-retail investors Yesterday, January 14, 2021, and was subscribed 4.14 times on the first day. Overall, the OFS was subscribed 2.07 times. The floor price for the OFS has been fixed at Rs 64 per share. The government want to sell 10% stakes through the OFS (this includes 5% greenshoe option). The government is selling 41.3 crore shares of the total equity of Steel Authority of India Limited (SAIL) through the OFS.
Post Market Results: Some companies, like Reliance Industrial Infrastructure and Tata Steel Long Products, have posted their December quarter numbers after the markets were closed for trading purposes on Thursday. These stocks are likely to be in action today when the market will open for trading purposes. Details:
Reliance Industrial Infrastructure: The Mumbai-based industrial infrastructure company on Thursday reported a 4% YoY decline in the consolidated profit at Rs 2.4 crore for the quarter ended December 31, 2020. It has posted a net profit of Rs 2.5 crore in the corresponding quarter last year. The company's revenue dropped 36.5% to Rs 12.7 crore in the reported quarter against Rs 20 crore posted last year. The EBITDA stood at Rs 1.5 crore, 7% up from Rs 1.4 crore posted last year. The margin jumped to 11.8% in Q3FY21 from 7% reported in Q3FY20.
Tata Steel Long Products: The company that offers a wide range of high-end steel products for the industry on Thursday posted a consolidated profit of Rs 304.4 crore for the quarter ended December 31, 2020, against a loss of Rs 112.2 crore posted in the corresponding quarter of the last financial year. Revenue grew 36.5% to Rs 1,364.2 crore in the reported quarter against Rs 999.3 crore posted last year. EBITDA stood at Rs 409.3 crore, up 11.6 times from Rs 35.2 crore posted last year. The margin advanced to 30% in Q3FY21 compared to 3.5% reported in Q3FY20.
Bharti Airtel: Index provider MSCI on Thursday said that Bharti Airtel will be a part of its February 2021 quarterly index review. The NSDL has updated the foreign investment limit for Bharti Airtel to 100% from 49%. The MSCI quarterly review will be announced on February 9 and effective from March 1. MSCI reviews foreign ownership limit and the foreign room until the price cut-off date on a quarterly basis.
Venkys/SKM Eggs/Godrej Agrovet: Samples collected for bird flu test from the poultry market in Delhi has tested negative. Delhi Chief Minister Arvind Kejriwal on Thursday directed to the poultry markets to open and withdraw the orders to restrict trade and import of chicken stocks.
Indiabulls Housing Finance: The company has started talks with a few private equity (PE) investors, like Apollo Global, TPG, and Brookfield to sell a significant stake, media reports. The deal value is being pegged at Rs 2,000 crore. After the stake sale, Sameer Gehlot is likely to be reclassified as an ordinary shareholder from a position of promoter.
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