Stocks in Focus on December 4: Burger King IPO, SCI, MSTC, Marico to SRF; here are the 5 Newsmakers of the Day

Key equity benchmarks ended near the flat line with some positive bias on Thursday, December 3, 2020. The S&P BSE Sensex closed 14.61 points or 0.03% up at 44,632.65. The Nifty 50 index rose 20.15 points or 0.15% to settle at 13,133.90. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, December 4, 2020. List of such five stocks:

Burger King IPO: Rs 810 crore initial public offering (IPO) of Burger King India was subscribed 9.38 times on the second day of subscription. The quota set for QIB was subscribed 2.7 times, while the portion set for non-institutional investors (NII) was subscribed 3.61 times. The quota set for retail investors was subscribed 37.84 times. The price band of the issue is fixed at Rs 59-60 per share. Today is the last day for subscription. 

SCI:  Cabinet Secretary-led panel is set to meet next week to give final touches to the EoI for privatization, Zee Business Exclusive. DIPAM will issue the EoI by December 18, 2020. Many domestic and foreign companies, like Adani, Vedanta, Essar Shipping, GE Shipping and Dubai Port World, have shown interest. The government will divest its entire 63.75% stake in SCI. 

MSTC: Divestment process of Ferro Scrap Nigam (FSNL) – a 100% subsidiary of MSTC - is in the final stage, Zee Business exclusive. The divestment process will be completed by March 2021. FSNL has earned net revenue of Rs 410 crore and a profit of Rs 31 crore in 2019-20. 

Marico: Marico has forayed into the plant protein category with the launch of Saffola Mealmaker Soya Chunks in line with its strategy to strengthen presence in the healthy foods segment.

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SRF /Century Enka: SRF and Century Enka would be negatively impacted by the government’s decision to revoke the anti-dumping duty on Nylon Tyre Cord Fabric (NTFC) imported from China.