Stocks in Focus on December 21: IDBI Bank, MTNL, Sugar Sector, Shipping Corporation of India to Reliance Industries; here are the 5 Newsmakers of the Day

Domestic benchmarks equity indices closed flat on Friday, December 18, 2020, after recovering from the low point of the day. The S&P BSE Sensex gained 70.35 points or 0.15 per cent to settle at 46,960.69. The Nifty 50 climbed 19.85 points or 0.14 per cent to settle at 13,760.55. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, December 21, 2020. List of such five stocks:

IDBI BANK QIP + PNB QIP 

IDBI Bank: The state-run bank has raises Rs 1,435 crore through qualified institutions placement (QIP) through the issuance of 37.18 crore equity shares at Rs 38.60 per share to the eligible qualified institutional buyers in the QIP issue. The issue price was at a discount of 5% to the floor price of Rs 40.63. The issue opened on December 15, 2020. The QIP issue for Rs. 2000 crore - Base size Rs. 1000 crore and Greenshoe option of Rs. 1000 crore - was subscribed by 44 qualified institutional buyers (QIBs).
Punjab National Bank (PNB): The state-run bank has fixed the QIP issue price at Rs 35.50, at a discount of 5% from floor price. 

MTNL: Group of Ministers likely to meet today to discuss the revival plan for state-owned telecom corporations BSNL and MTNL, sources informed to Zee Business. The sources further said there is no plan to sell BSNL and MTNL. 

Sugar sector in Focus: The government has approved the export of 8,424-tonne raw sugar under its tariff-rate quota (TRQ) to the US, which enables shipments to enjoy relatively low tariff.

Shipping Corporation of India: The government is likely to invite bids for privatising Shipping Corporation of India this week and buyers will have time till mid-February to submit EoIs. The government is planning to sell its entire 63.75 per cent stake in Shipping Corporation along with transfer of management control.

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Reliance Industries: Reliance Industries Limited (RIL) and bp on Friday announced the start of production from the R Cluster, an ultra-deep-water gas field in block KG D6 off the east coast of India. RIL and bp are developing three Deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to meet 15% of India’s gas demand by 2023. These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of KG D6 with a 66.67% participating interest and bp holds a 33.33% participating interest.