Stocks in Focus on March 4: SBI Card IPO, Bharti Airtel to Pharma Stocks; here are expected 5 Newsmakers of the Day
Stocks in Focus on March 4: SBI Card IPO, Bharti Airtel, Max Financial, United Breweries and pharma stocks are expected to remain newsmakers throughout the intraday trade today.
Stocks in Focus on March 4: Snapping seven days of losses, the stock markets closed with strong gains on Tuesday, March 3, 2020. The Sensex at the Bombay Stock Exchange surged 479.68 points, or 1.3 per cent, to end at 38,623.70. The Nifty at the National Stock exchange jumped 170.55 points, or 1.53 per cent, to 11,303.30. But certain stocks came in news after the market was closed and can impact the indices when it reopens in the morning March 3, 2020. Here is the list of five stocks:
SBI Cards and Payment Services IPO Update: SBI Card IPO - public offer of Rs 10,335-crore - has seen subscription of 87.55 per cent on March 3, the second day of bidding. The IPO of SBI Cards will close on March 5. The price range for the IPO has been fixed at Rs750-755 per share. The minimum amount one can invest by subscribing a lot of 19 shares is Rs 14,345.
See Zee Business Live TV streaming below:
Max Financial: The board of Max Financial has approved allotment of 7.54 crore (21.87 per cent) equity shares of the company at Rs 565.11 per share on a preferential basis to Mitsui Sumitomo Insurance Company Limited (MSI), for consideration other than cash, being transfer of 39.47 crore (20.57 per cent) equity shares at Rs 565.11 per share held by MSI in Max Life Insurance Company Limited (MLIC). The shares to be issued by the Company are valued at Rs 565.11 per share. With this, Max Financial's stake in Max life will increase to 93.1 per cent.
Bharti Airtel: Bharti Airtel has paid Rs1,950 crore to Department of Telecommunications (DoT) for the spectrum bought in the 2014 auctions, meeting the deadline for spectrum payments.
United Breweries (UBL): Lenders led by the State Bank of India (SBI) have finalised the plans to sell about 2.8 per cent stake in UBL to Heineken, the largest shareholder of the beer maker. It holds 44% stakes in UBL.
Pharma companies in focus: The government is planning an incentive package to boost domestic manufacturing of active pharmaceutical ingredients (APIs). Besides, the Department of Pharmaceuticals (DoP) has proposed the creation of a corpus fund of Rs3,000 crore for companies that are interested in setting up API or fermentation units in India.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
08:04 AM IST