At the stock markets, the S&P BSE Sensex fell 127.31 points, or 0.22%, to end at 56,177.76, on Monday, September 13, 2021. The Nifty 50 shed 13.95 points, or 0.08%, to end at 17,355,30. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, September 14, 2021. List of such five stocks:
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IPOs – 2 listings + 1 opening
Vijaya Diagnostic Center: The shares of the company will debut on the bourses, NSE & BSE, today. The Rs 1,895 crore initial public offering (IPO), which was open for subscription from September 1 to 3, 2021, was subscribed 4.54 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 13.07 times, while HNI and retail portions were subscribed 1.32 times and 1.09 times, respectively. The shares were sold in the price band of Rs 522-531 a share.
Ami Organics: The shares of the Surat-based speciality chemical company Ami Organics will debut on the bourses, NSE & BSE, today. The Rs 569.64 crore initial public offering (IPO), which was open for subscription from September 1 to 3, 2021, was subscribed 64.54 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 86.64 times, while HNI and retail portions were subscribed 154.81 times and 13.36 times, respectively. The shares were sold in the price band of Rs 603-610 a share.
Sansera Engineering IPO: The initial public offering (IPO) of the auto component manufacturer Sansera Engineering will open on Tuesday, September 14, 2021, and will be available for subscription till Thursday, September 16, 2021. The Rs 1,282.98 crore public issue is a 100 per cent Offer for Sale (OFS) of 17,244,328 equity shares by its existing shareholders and promoters. The company has a fixed price band of the IPO at Rs 734-744 per share. Retail investors can place a bid in the lot of 20 equity shares and multiples thereafter. Besides, auto component maker Sansera Engineering Ltd has mopped up Rs 382 crore from anchor investors ahead of its initial share sale, which opens for public subscription today. The company has allocated 51,35,162 equity shares to anchor investors at Rs 744 apiece. Government of Singapore, Nomura, Abu Dhabi Investment Authority, BNP Paribas, Axis Mutual Fund (MF), ICICI Prudential MF, SBI Life Insurance Co Ltd, Mirae Mutual Fund, Max Life Insurance Company and Kotak are among the anchor investors.
Auto Insurance Companies: Insurance stocks will be in focus today as the Madras High Court has said that 5 years of bumper-to-bumper insurance will not be necessary for buying a new car. Considering the arguments of the Association of General Insurance Companies, Auto Companies, Association of Insurance Agents, the Madras High Court will make changes in its order dated August 4, 2021, and remove the requirement of simultaneous insurance for 5 years. Besides, amidst the fear of the third wave, the insurance regulator IRDAI has extended the corona special policy for the next six months, that is, till March 31, 2022. The IRDAI had ordered the launch of a special Corona Kavach Policy last year to provide relief to the common man but the renewal of the policy was only till September 30, 2021.
Pharma Stocks: Stocks like Glenmark, Lupin, Cipla and Laurus Lab among others will remain in focus today as GST Council will consider reduction of GST rates on selected drugs from 12% to 5%. The council is likely to consider a reduction in GST rates on drugs like Itolizumab, posaconazole, infliximab, bamlanivimab & etesevimab, casirivimab & imdevimab, 2-deoxy-d-glucose and favipiravir.
RPP Infra Projects: The Board of Directors of RPP Infra Projects Ltd have approved the offer and issuance of 1.60 crores fully paid-up equity shares of the Company (Rights Equity Shares) for an amount not exceeding Rs 48.00 crores, by way of a rights issue (Rights Issue). The ratio of the rights issue is fixed as 3:5 (3 Rights Equity Shares for every 5 fully paid-up Equity Shares held by the eligible equity shareholders of our Company on the Record Date) at a price of Rs 30 per Rights Equity Share (including a premium of Rs. 20 per Rights Equity Share)
KNR Constructions + DCM Shriram
KNR Constructions: The company is in receipt of a Letter of Acceptance for Hyderabad Growth Corridor Limited (HGCL) for widening of existing service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT Overlay of Bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad, Telangana, worth Rs 312.8 crore on Bill of Quantities basis. The said project is to be completed within a period of 15 months from the date of signing of the Agreement.
DCM Shriram: Board of Directors of the company approved the proposal to acquire/buy 1,732,500 equity shares (50% stakes) of Shriram Axiall Pvt. Ltd. (SAPL) at Rs 137.40 per share from Axiall LLC. SAPL is a 50:50 JV between the Company and Axiall LLC, (USA).