Stocks in Focus on March 5: Heranba Industries, MTAR Technologies Fertilizer Stocks, MAX Healthcare to WIPRO; here are the 5 Newsmakers of the Day
Stocks in Focus on March 5: Key indices at the domestic stock markets snapped three days of gains to decline over one per cent, on Thursday, March 4, 2021. S&P BSE Sensex lost 598.57 points or 1.16% at 50,846.08. The Nifty 50 index declined 164.85 points or 1.08% at 15,080.75.
Stocks in Focus on March 5: Key indices at the domestic stock markets snapped three days of gains to decline over one per cent, on Thursday, March 4, 2021. S&P BSE Sensex lost 598.57 points or 1.16% at 50,846.08. The Nifty 50 index declined 164.85 points or 1.08% at 15,080.75. Buyers outpaced sellers. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, March 5, 2021. List of such five stocks:
Heranba Industries + MTAR Technologies IPO
MTAR Technologies: The initial public offering of the precision engineering company MTAR Technologies was subscribed 10.27 times on the second day of subscription, i.e. on March 4, 2021. The retail quota was subscribed 16.55 times, while the NII portion was subscribed 8.04 times and the QIB portion was subscribed 0.96 times. The precision engineering company seeks to raise Rs 596 crore from the primary market. The price band of MTAR Technologies IPO has been fixed at Rs 574-575. Today is the last day for the subscription of the public issue.
Heranba Industries: Agrichemical manufacturer Heranba Industries is scheduled to list on the stock exchanges today, i.e. March 5, 2021. The Rs 625-crore IPO was subscribed 83.29 times during the three-day bidding process. The retail portion was subscribed 11.8 times. The issue was sold in the range of Rs 626-627 per share.
RCF, NFL, FACT & Madras Fertilizer: The fertilizer companies will be in focus today as DIPAM has started work on privatization of the fertilizer companies. Sources aware of the development informed Zee Business that the government will sell NFL and RCF in the first phase. FACT and Madras Fertilizer will be divested in the second phase. According to the source, the merger of FACT and Madras Fertilizer is also open as the merger will help the government to reach a better valuation.
IRCON International + Max Healthcare
IRCON International OFS Update: The Offer For Sale of IRCON International Ltd closed with good interest from retail investors and 2.06 times subscription. The retail segment did not get a great response and was subscribed just 98% and the non-retail portion was subscribed 3.3 times.
Max Healthcare Institute: Max Healthcare Institute has launched a qualified institutional placement (QIP) on Thursday to raise around Rs 1,200 crore at a floor price of Rs 190.40 per share. The QIP Issue Committee of the Board on March 9, 2021, will consider and approve the issue price of the Equity Shares to be issued to qualified institutional buyers, pursuant to the Issue.
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WIPRO: Bengaluru-based IT services major Wipro on Thursday announced that it has signed an agreement to acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. Capco also provides management and technology consultancy to the Banking, Financial Services and Insurance (BFSI) sector. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending June 30, 2021. This acquisition will make Wipro one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry. Capco has over 5,000 consultants based in more than 30 global locations across 16 countries.
Laurus Labs: Laurus Labs promoters have sold 70 lakh shares (1.3% stakes) worth Rs 257 crore of the company at Rs 366.91 to Rs 268.59 per share. A significant part of the above amount shall be utilized to release the pledge on their equity shares of the Company.
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