Stocks in Focus on March 8: Easy Trip planners IPO, Adani Ports, BEML to Religare; here are the 5 Newsmakers of the Day
Benchmark domestic stocks today declined around 0.9 per cent in sync with negative global cues. The Sensex closed 441 points, or 0.87 per cent, down at 50,405 and the NSE Nifty slipped 143 points, or 0.95 per cent, to finish at 14,938. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, March 8, 2021
Benchmark domestic stocks today declined around 0.9 per cent in sync with negative global cues. The Sensex closed 441 points, or 0.87 per cent, down at 50,405 and the NSE Nifty slipped 143 points, or 0.95 per cent, to finish at 14,938. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, March 8, 2021. List of such five stocks:
Easy Trip planners + MTAR Technologies IPO
Easy Trip planners: The Rs 510 crore initial public offering (IPO) of Easy Trip Planners will kick off today, i.e. on Monday, March 8, 2021. The issue will close on March 10, 2021. Investors can bid for a minimum of 80 equity shares and in multiples of 80 equity shares thereafter. The price band for the public offer has been fixed at Rs 186-187 per equity share. The Rs 510-crore public issue comprises a complete offer for sale by promoters. Nishant Pitti and Rikant Pitti will sell shares worth Rs 255 crore each through the offer. The online travel company on Friday raised a little Rs 229.5 crore from anchor investors at Rs 187 per share, ahead of its initial share-sale. Among the investors that have been allocated shares are HSBC Global Investment Funds, Nomura Funds Ireland Public Limited Company, Tata Trustee Company and Nippon Life India Trustee Company among others.
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MTAR Technologies: The Rs 596 crore initial public offering of the precision engineering company MTAR Technologies was subscribed 200.79 times on Friday, the last day of subscription. The retail quota was subscribed 28.4, while the NII portion was subscribed 650.79 times and the QIB portion was subscribed 164.99 times. The price band of MTAR Technologies IPO has been fixed at Rs 574-575.
Adani Ports: Windy Lakeside Investment Ltd, an affiliate of private equity firm Warburg Pincus, will invest Rs 800 crore in Adani Ports for a 0.49 per cent stake in the company. About one crore equity shares will be allotted to the investment company at Rs 800 per share (6.9 per cent premium).
Gadkari on scrappage rebate: Road Transport, Highways and MSMEs Minister Gadkari has said that automobile manufacturers will provide about a 5 per cent rebate on new car purchases to the consumers in lieu of scrapping of the old vehicles.
BEML: Companies like Tata Motors Ltd, Mahindra and Mahindra Ltd, Ashok Leyland Ltd and Bharat Forge Ltd among others are looking to buy a 26% stake in state-run defence equipment maker BEML Ltd, reports. The deadline for submission of the EOI is March 22, 2021.
Dabur/ Religare Enterprise:
Dabur's promoter Burman family will increase share in Religare, sources aware of the development informed Zee Business. According to the sources, the Burman family can also take the management control with a large stake and an open offer may come after taking the management control. Burman family currently holds 11% in an individual capacity. The stakes will be increased through MB Finvest, Milky Finvest, share via Puran Associates. However, the Burman family said that they have no such plan at the moment. Burman family share in Religare:
Pooran Associates 7.02%
MB Finvest 2.16%
Milky Finvest 1.85%
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