Stocks in Focus on March 9: Easy Trip Planners IPO, BPCL, Balmer Lawrie, Cadilla Healthcare to Adani Ports; here are the 5 Newsmakers of the Day
Stocks in Focus on March 9: Benchmark domestic stocks on Monday, March 8, 2021, logged marginal gains amid negative Asian cues.
Stocks in Focus on March 9: Benchmark domestic stocks on Monday, March 8, 2021, logged marginal gains amid negative Asian cues. The BSE Sensex added 36 points to close at 50,441 and the NSE Nifty appreciated 18 points to close at 14,956. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, March 9, 2021. List of such five stocks:
Easy Trip Planners IPO: The initial public offering (IPO) of Easy Trip Planners was subscribed 2.33 times on the first day of subscription. The retail portion was subscribed 12.58 times and NII was subscribed 0.15 times. 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.
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BPCL: State-owned Bharat Petroleum Corporation (BPCL) has launched a block deal on Monday to sell 15.89 crore treasury shares. This 15.89 crore treasury shares valuation is Rs 7,000 crore. The company has set a floor price of Rs 436 per share (around 7% discount on Monday’s closing price). Alert: In 2013, a total of 9% equity was transferred to the treasury and 2% equity was transferred to employees benefit trust. Now, a 7% equity stake of the company exists in the treasury. Besides, a special dividend may be announced with the sale of shares.
Balmer Lawrie: The divestment process of Balmer Lawrie has accelerated and an important meeting on the subject is likely to be held in the next 10 days, sources aware of the development informed Zee Business. According to the sources, SBI Capital will give a presentation on the divestment roadmap to the Group of Ministers. All eight units will be sold separately for a good valuation. The divestment plan of Balmer Lawrie and Balmer Lawrie Investments is likely to be discussed. The government will sell entire stakes in the Balmer Lawrie Investments. Government, currently, holds 59.67% stakes in Balmer Lawrie Investments. Balmer Lawrie is a subsidiary of Balmer Lawrie Investments.
Cadilla Healthcare: Private equity firm Multiples Alternate Asset Management and Canadian Pension Plan Investment Board have teamed up to emerge as the lead contenders to acquire Cadila Healthcare’s animal healthcare business.
Adani Ports/Snowman Logistics: The company has sold its remaining stake in Snowman Logistics in the open market. The company has sold 29.91 lakh shares (1.79% equity) in the open market. It has sold the stakes from February 10, till now.
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