Stocks in Focus on March 22: Equity Benchmarks on Friday, March 19, 2021, closed near the day’s high with gains of more than one per cent. The Sensex at the Bombay Stock Exchange rose 642 points, or 1.3 per cent, to close at 49,858. Nifty at National Stock Exchange also climbed 186 points, or 1.28 per cent, to settle at 14,744. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, March 22, 2021. List of such five stocks:

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IPO Updates

Suryoday Small Finance Bank: The initial public offering of Suryoday Small Finance Bank was subscribed 2.4 times on the last day of subscription, i.e. on March 19, 2021. The retail portion was subscribed 3.09 times and the NII and QIB portions were subscribed 1.31 times and 2.18 times, respectively. The employee portion was subscribed 34 times. The price band for the offer was fixed at Rs 303-305 per equity share. At the upper end of the price band, the IPO seeks to fetch Rs 583 crore to the bank. 

Nazara Technologies: The initial public offering (IPO) of Nazara Technologies was subscribed 175.5 times on the last day of subscription, i.e. on March 19, 2021. The retail portion was subscribed 75 times, while the NII and QIB portions were subscribed 390 times and 104 times, respectively. The employee quota was subscribed 7.55 times. The price band for the issue was fixed at Rs 1,100-1,101 per equity share. The company seeks to raise Rs 582 crore from the public issue.
 
Barbeque Nation: Schedule to have a press conference on IPO. Issue price of Rs 498-500/share, fresh issue of shares worth Rs 180 crore. It also has an offer for sale of up to 5.4 million shares by its promoters Sayaji Hotels. Sayaji Hotels is the Parent Company for Barbeque Nation.
 
Zomato IPO + InfoEdge: Zomato is likely to submit its draft paper for IPO by April 2021. The company has a plan to raise up to $65 crore (approx Rs 4,700 crore) through the public offering. And, it has plans to complete the entire process for the IPO by September 2021. 

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NMDC: The Company has increased the lump-ore prices by 4.9% to Rs 5,350 per tonne from Rs 5,100 per tones. Prices of fines have been increased by 2.4% to Rs 4,310 per tonne from Rs 4,210 per tonne. This is the second time when the prices have been increased. The first change was announced on March 6, 2021.

Adani Green Energy + Tata Power 

Adani Green: Adani Green Energy and SkyPower Global have signed share purchase agreements. As per the agreement, Adani Green will acquire 100% stakes in an SPV holding 50 MW operating solar project of the Toronto-headquartered SkyPower Global in Telangana. With this acquisition, Adani Green will have an operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The cost of acquisition is Rs 317 crore subject to closing adjustments. Besides, the company has also entered into a securities purchase agreement for the acquisition of 100% stakes in a 50 MW solar power plant from Surajkiran Power in Telangana. 

Tata Power: The Competition Commission of India (CCI) has approved the acquisition of 51% stakes in the North Eastern Electricity Supply Company of Odisha (NESCO). Grid Corporation of Odisha will hold the remaining 49% stake. With this deal, Tata Power can now serve the entire population of Odisha with nearly nine million consumers.

Tata Motors: The automaker on Friday announced that Mr. Marc Llistosella, who was to join Tata Motors as its CEO & Managing Director effective from July 1, 2021, will not be joining Tata Motors as its CEO & Managing Director as previously announced since he is not able to relocate to India for personal reasons at this point of time. As mentioned in our said earlier letter, Mr. Guenter Butschek will continue as the CEO & Managing till June 30, 2021. There is uncertainty on who will hold the position after June 30, 2021. 

GAIL + IOC + HPCL: The first oil-sector infrastructure investment trust (InvIT) is expected to be floated by GAIL (India) by the end of 2021-22. As per reports published in a daily, a top petroleum ministry official has said that Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL), and GAIL (India) will be going for three separate InvITs as part of the central government’s asset monetisation plan. “GAIL (India) will be the first to float the InvIT. In all, Rs 15,000-20,000 crore is expected to be raked in via this route. The money will be utilised by the companies for capital expenditure.