Stocks in Focus on March 18: Sliding for the fourth straight session amid the broader sell-off, the domestic stock markets fell more than one per cent on Wednesday, March 17, 2021. The S&P BSE Sensex slipped 562.34 points, or 1.12 per cent, to close at below the 50,000 level at 49,801.62. The Nifty 50 at National Stock Exchange fell 189.15 points, or 1.27 per cent, to settle at 14,721.30. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, March 18, 2021. List of such five stocks:

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IPO Updates

Laxmi Organic Industries: The initial public offering of Laxmi Organics Industries, a specialty chemicals manufacturer, was subscribed 106.81 times on the last day of subscription, i.e. March 17, 2021. The retail portion was subscribed 20.10 times, while NII and QIB portions were subscribed 217.62 times and 175.43 times, respectively. The price band for the issue was fixed at Rs 129-130 per share. The company wanted to raise Rs 600 crore from the public issue.
 
Craftsman Automation: The initial public offering (IPO) of Craftsman Automation, an automobile component manufacturer, was subscribed 3.82 times on the last day of subscription, i.e. March 17, 2021. The retail portion of the public offering was subscribed 3.44 times, while the NII and QIB portions were subscribed 2.84 times and 5.21 times, respectively. The price band for the issue was fixed at Rs 1,488-1,490 per share. The company seeks to raise Rs 824 crore from the public issue.
 
Kalyan Jewellers: The initial public offering (IPO) of Kalyan Jewellers India (KJIL) was subscribed 1.2 times on the second day of subscription, i.e. March 17, 2021. The retail portion of the public offering was subscribed 1.90 times, while the NII and QIB portions were subscribed 0.89 times and 0.24 times, respectively. Today is the third day for a subscription. The price band for the public issue has been fixed at Rs 86-87 per share. The company seeks to raise Rs 1,175 crore from the public issue.
  
Nazara Technologies: The initial public offering (IPO) of Nazara Technologies was subscribed 4.01 times on the first day of subscription, i.e. March 17, 2021. The retail portion was subscribed 16.75 times, while the NII and QIB portions were subscribed 2.85 times and 0.36 times, respectively. The public issue will close on Friday, March 19, 2021. The price band for the issue has been fixed at Rs 1,100-1,101 per equity share. The company seeks to raise Rs 582 crore from the public issue. 

Suryodaya Small Finance Bank: The initial public offering of Suryoday Small Finance Bank was subscribed 0.42 times on the first day of subscription, i.e. March 17, 2021. The retail portion was subscribed 0.84 times and the NII portion was subscribed 0.04 times. The public issue will close on Friday, March 19, 2021. The price band for the offer has been fixed at Rs 303-305 per equity share. At the upper end of the price band, the IPO is expected to fetch Rs 583 crore to the bank. 

Tata Communication OFS: The government has raised Rs 5,440 crore from the offer for sale (OFS) of Tata Communications, which ended on Wednesday, March 17, 2021. The OFS was subscribed 1.33 times. The offer received overall bids for 6.12 crore shares as against 4.6 crore shares on offer. Though the floor price for the OFS was fixed at Rs 1,161, most of the bids came in at Rs 1,184. The portion reserved for retail investors was subscribed by just 1.46%, while the non-retail portion was subscribed 2.2 times. Post OFS, the government stake in the company will decline from 26.12% to 10%. The government will sell the remaining 10% of its holding in the company to Panatone Finvest, an investment arm of Tata Sons.

BHEL: In an open competitive bidding process, Bharat Heavy Electricals Limited (BHEL) has emerged as the lowest bidder (Rs 10,800 crore) for the fleet mode tender floated by Nuclear Power Corporation of India Limited (NPCIL) for the 6x700 MW Turbine Island Package Projects. BHEL has retained its market leadership position of being the sole Indian supplier of Nuclear Steam Turbines.

Dixon Technologies + Havells: The government has invited Expression of Interest (EoI) to set up display manufacturing units in India. It has fixed on April 30, 2021, as the last date for submission of the proposal. The government has plans to increase the production of LCD, OLED, QLED, AMOLED in the country. Currently, most display units are imported from countries like China, Korea and Taiwan.

Just Dial + IGFL

IFGL Refractories: L&T Mutual Fund has reduced its stakes in IFGL Refractories from 5% to 2.3%. L&T MF has sold 9.7 lakh shares of IGFL on March 12, 2021.
 
Just Dial Ltd.: HDFC Mutual Fund has reduced its stakes in Just Dial from 5.6% to 3.59%. The company has sold 12.4 lakh shares in the open market of Just Dial on March 16, 2021.