Stocks in Focus on December 9: ICICI Securities, Dabur, JSW Steel, Tata Steel to Axis Bank; here are the 5 Newsmakers of the Day

Domestic indices ended with modest gains after hitting record-high levels on Tuesday, December 8, 2020. The S&P BSE Sensex gained 181.54 points or 0.4 per cent to settle at 45,608.51. The Nifty 50 index gained 37.20 points or 0.28 per cent to 13,392.95. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, December 9, 2020. List of such five stocks:

ICICI Securities: ICICI Bank will sell 2.21% stakes (approx. 71.21 lakh shares) in ICICI Securities through the offer for sale (OFS) route on December 9 and 10. The sale will open for non-retail investors today, i.e. December 9, 2020, and for retail investors tomorrow, i.e. on December 10, 2020. The floor price for the OFS has been fixed at Rs 440 per share, a 6% discount to Tuesday’s closing price of Rs 461. ICICI Bank is selling the shares to comply with the minimum public shareholding norms. ICICI Bank held 77.2% stake in ICICI Securities as on September 30, 2020.

Dabur/Eveready: Promoters of the FMCG major Dabur are likely to buy 7% stakes in Eveready Industries from Khaitan family, sources informed Zee Business. An open offer will come after the stakes are increased. Dabur at present holds 19.84% stakes in the dry cell battery major. 

JSW Steel + Tata Steel: 

JSW Steel: The steel-making company on Tuesday reported crude steel production of 13.32 lakh tonnes in November, up 3% from 12.9 tonnes produced in the same month last year. The average capacity utilisation in November was 89 per cent. 
Tata Steel: Standard & Poor's (S&P) Global Ratings has revised Tata Steel and its Singapore-based subsidiary ABJA investments’ outlook to stable from negative on the back of solid earnings rebound. The global rating agency has also affirmed B+ long-term issuer credit ratings on the two companies and the B+ long-term issue rating on the senior unsecured notes issued by ABJA.

Apollo Hospitals: Amazon has plans to invest around $ 100 million (737 crore) in Apollo Pharmacy. 

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Axis Bank: The government may offload more Specified Undertaking of Unit Trust of India’s (SUUTI) stake in private lender Axis Bank. It may sell 0.4%-0.7% SUUTI stakes on the bank.