Stocks in Focus on September 17: Hindustan Copper, Banking Stocks, Biocon, Hero MotoCorp to NALCO; here are the 5 Newsmakers of the Day
At the stock markets, the S&P BSE Sensex advanced 417.96 points, or 0.7 per cent, to end at a fresh record high of 59,141.16 on Thursday, September 16, 2021.
At the stock markets, the S&P BSE Sensex advanced 417.96 points, or 0.7 per cent, to end at a fresh record high of 59,141.16 on Thursday, September 16, 2021. The Nifty 50 added 110.05 points, or 0.63 per cent, to another all-time high of 17,629.50. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, September 17, 2021. List of such five stocks:
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IPO + OFS
Sansera Engineering IPO: The Rs 1,283 crore initial public offering (IPO) of the auto component manufacturer Sansera Engineering was subscribed 11.47 times yesterday, the last day of the bidding. The QIB portion was subscribed to 26.47 times while the NII and Retail portions were subscribed to 11.37 times and 3.15 times, respectively. The public issue was a 100 per cent Offer for Sale (OFS) of 17,244,328 equity shares by its existing shareholders and promoters. The price band for the IPO was fixed at Rs 734-744 per share. Retail investors interested to subscribe to Sansera Engineering’s IPO can place a bid in the lot of 20 equity shares and multiples thereafter.
Hindustan Copper OFS: The non-retail portion of the offer for sale of Hindustan Copper was subscribed 1.4 times on Thursday, September 16, 2021. The offer will open for retail investors today. The government is selling a 10 per cent stake in Hindustan Copper, which includes a green-shoe option of 5 per cent. The floor price was been set at Rs 116 a share, a discount of 6.8% at the closing price of the stock of Rs 124.40 per share on Wednesday at the NSE. The government currently holds 72.5% stakes in the copper miner.
Banks in Focus: As reported exclusively earlier by Zee Business, the government on Thursday announced that it will provide Rs 30,600 crore in guarantees to the National Asset Reconstruction Company Ltd. (NARCL) to buy bad loans from banks. As per the announcement, the NARCL will purchase the bad loans from banks under a 15:85 structure, where it will provide upfront cash of 15% and issue security receipts for the rest. A part of these security receipts will be guaranteed by the government. The guarantee will be valid for a period of five years.
Biocon: Biocon Biologics Limited (BBL), a subsidiary of Biocon Ltd., and Serum Institute Life Sciences Private Limited (SILS), a subsidiary of Serum Institute of India Pvt. Ltd. have announced a strategic alliance. The Board of Directors of BBL has approved the merger of Covidshield Technologies Private Limited (‘CTPL’), a wholly-owned subsidiary of Serum Institute Life Sciences Private Limited (‘SILS’), with, and into BBL. Under the terms of the agreement, BBL will offer approximately 15% stake to SILS, at a post-money valuation of $4.9 billion ($490 crore), for which it will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS’s upcoming vaccine facility in Pune with commercialization rights of the SILS vaccine portfolio (including COVID-19 vaccines) for global markets.
Hero MotoCorp + TVS Motors
Hero MotoCorp: Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from September 20, 2021. The price hike across the range of motorcycles and scooters will be up to Rs. 3,000. The exact quantum of increase will depend on the model and the market. The price hike has been necessitated to offset the impact of steadily increasing commodity prices.
TVS Motor: TVS Motor has acquired Swiss company GO corporation (the GO AG). GO AG is a Swiss technology company providing smart connected mobility solutions through a pipeline of e-bikes, e-cargo bikes, and e-scooters combining innovative designs which deliver a differentiated customer experience building on innovative software and hardware platforms. It has an omnichannel network spread across Switzerland and Germany with plans to expand across Europe. The acquisition will be made at a price of CHF 1.825 per share for a total of 16.6 million CHF (Rs 1,216 crore).
Hindalco/NALCO: Anti-dumping duty imposed on import of aluminium foil from China, Indonesia, Thailand and Malaysia for five years. The Ministry of Finance has issued a notification in this regard.
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