Key domestic indices ended with stellar gains on Thursday, October 1, 2020, extending gains for the second day. Positive global cues, better-than-expected domestic macro numbers and decent auto sales in September 2020 supported buying. The barometer index, the S&P BSE Sensex, added 629.12 points or 1.65% at 38,697.05. The Nifty 50 index rallied 169.40 points or 1.51% at 11,416.95. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Monday, October 5, 2020. List of such five stocks:

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Angel Broking IPO Listing, Loan Moratorium and Triveni Engineering

Angel Broking IPO: Rs 600 crore initial public offering (IPO) of Angel Broking will list on the bourses on Monday i.e. October 5, 2020, at 10:00 am. The public offer of the broking firm was subscribed 3.95 times. The price band for the issue was fixed at Rs 305-306 per share. The issue price was Rs 306 per share.

Loan Moratorium: Lone Moratorium case will be heard today in the Supreme Court. Centre in its affidavit in the court has said that borrowers will not have to pay interest on interest. It has added Central government will bear the burden of interest waiver on interest itself.

Triveni Engineering & Industries: Triveni Engineering’s buyback will open today, i.e. October 5, 2020. The company will buy 61.9 lakh shares worth Rs 64.99 crore. The price at which Equity Shares will be bought back from the Eligible Shareholders has been fixed at Rs 105 per share. The buyback offer will close on October 16, 2020.

Vedanta (Result + Delisting): Vedanta has posted the financial results for the quarter ended June 30, 2020. It reported a 22% year-on-year decline in consolidate profit at Rs 1,522 crore in Q1FY21. It had posted a net profit of Rs 1,944 crore in Q1FY20. Its revenue dropped by 26% to Rs 15,687 crore against Rs 21,167 crore posted last year in the same quarter. EBITDA stood at Rs 3,707 crore, down 26% from Rs 4,991 crore posted last year. Vedanta delisting offer will open today, i.e. on October 5, 2020, and close on October 9, 2020. The buyback will start through reverse book building and indicative floor price has been set at Rs 87.5 per share. Governance firm SES pegs Vedanta's fair delisting price at Rs 200 –250 per share.

Auto sales numbers: Tata Motors, Hero MotoCorp, Eicher Motors and TVS

Tata Motors: Tata Motors has reported a 13% rise in domestic sales in the second quarter of the financial year 2020-21 (Q2FY21) at 1,06,888 units against 94,454 units sold in the same period last year.

Domestic commercial vehicle sales dropped 24% to 52,094 units against 68,556 units. The passenger vehicles sales jumped 112% to 54,794 units in Q2FY21 against 25,898 units sold in Q2FY20. Total sales in September grew by 37% to 44,444 units against 32,376 units. Total passenger vehicle sales grew by 163% in September 2020 to 21,199 against 8,097 units.

Hero MotoCorp: India’s largest two-wheeler maker Hero MotoCorp has reported a 16.9% rise in automotive sales to 7,15,718 units in September 2020 against 6,12,204 units sold last year in the same month.

This is the highest monthly sales in 2020. Raises ex-showroom prices of its motorcycles and scooters by up to 2% from October 1.

Eicher Motors: Eicher Motors has reported a 1% rise in September 2020 to 60,041 units against 59,500 units posted last year.

TVS Motors: TVS Motor has reported a 4.2% rise in total sales of two-wheelers to 3,13,332 units in September 2020 compared to 3,00,793 units sold last year in the same month. 

IPO Subscription Update: Mazagon Dock Shipbuilders, UTI AMC and Likhita Infrastructure

Mazagon Dock Shipbuilders: The Rs 444-crore public offer of Mazagon Dock Shipbuilders was subscribed 157.41 times on the last day of subscription. The price band for the issue has been fixed at Rs 135-145 per share. The qualified institutional buyer (QIB) quota was subscribed 89.71 times, while the portion set aside for non-institutional investors (NIIs) saw 678.8 times subscription. The retail portion was subscribed 2.32 times.

UTI Asset Management Company: The Rs 2,160 crore public issue of UTI AMC was subscribed 2.31 times on the last day of subscription. The price band for the issue is fixed at Rs 552-554. The qualified institutional buyer (QIB) quota was subscribed 3.34 times, while the portion set aside for non-institutional investors (NIIs) saw 0.93 times subscription. The retail portion was subscribed 2.32 times.

Likhita Infrastructure: The Rs 61.20 crore initial public offer of Likhita Infrastructure was subscribed 8.43 times on Thursday. The date for IPO subscription has been extended till October 7, 2020. The price band for the issue has been changed from Rs 117-120 to Rs 116-120. The extension was sought mainly to accommodate QIB bidders who could not place their bids due to technical issues,” Unistone Capital, the book running lead manager to the issue.

See Zee Business Live TV Streaming Below:

Tata Consultancy Services (TCS) Limited: The Board of Directors of the Company is scheduled to meet on October 7, 2020, to consider and approve a proposal for buyback of equity shares of the Company. The company also said that it will be providing Rs 1,218 crore as an exceptional item in the financial results during the quarter after a Chicago court reduced the damage award in the EPIC systems Corporation matter.