Stocks in Focus on September 9: Happiest Minds, Route Mobile, Power Grid to FDC Ltd; here are expected newsmakers of the day

Stocks in Focus on September 9: The domestic markets ended the volatile session with minor corrections on Tuesday, September 8, 2020. The barometer, S&P BSE Sensex, lost 51.88 points or 0.14% at 38,365.35. The Nifty 50 index slipped 37.70 points or 0.33% at 11,317.35. Index major Reliance Industries and IT pivotal bucked broader selling pressure. Tata Steel was the top loser in the Sensex pack, shedding 4.13 per cent, followed by Bharti Airtel, Axis Bank, ONGC, Sun Pharma, NTPC and SBI. On the other hand, HCL Tech, Infosys, Reliance Industries, TCS, ICICI Bank and Tech Mahindra were among the gainers, rising up to 2.3 per cent. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, September 9, 2020. List of such five stocks:

Triggers: Certain events, like Results Today, Happiest Minds, Route Mobile, Bharat Dynamics OFS, Delhi bars & pubs, Asset Monetisation, Hexaware, NITI Aayog, ABB Power and Ex-dividend, can create positive/negative reactions in the share market when it opens today. Find them in detail:

Results Today: 

Cash: Shriram EPC, Eveready Ind, CESC Ventures, Emami Realty, IB Ventures 

Happiest Minds: Rs 702 crore initial public offering (IPO) by Happiest Minds that will close today has seen a robust subscription and was filled in more than 8.4 times on the second day of the offer. The retail quota was subscribed 38.85 times. NII quota was subscribed almost 3.96 times while the quota for QIBs was subscribed 47 per cent. The price band of the issue has been fixed at Rs 165-166 per share. A retail investor can bid for a minimum one lot, amounting to 90 shares and in multiples of 90 shares thereafter, i.e. minimum investment of Rs 14,850 should be made.

See Zee Business Live TV streaming below:

Route Mobile IPO: Route Mobile Ltd's initial public offer (IPO) will open today, i.e. September 9, 2020. The issue will remain open for three days on September 9 to September 11. The omnichannel cloud communication service provider (CPaaS) has raised Rs 180 crore from 15 anchor investors on September 8, a day ahead of IPO opening. The anchor investors include names like SBI Mutual Fund, Goldman Sachs, ICICI Prudential and Nippon India among others. In anchor investors’ portion in the public issue of Route Mobile, 51.43 lakh equity shares have been subscribed at Rs 350 per equity share. Further Details:

IPO Date: September 9-11, 2020.
IPO Size: 600 crore (fresh issue: Rs 240 crore, OFS: Rs 360 crore) 
Price Band: 345-350/share 
Lot Size: 40 shares

Bharat Dynamics OFS: The offer for sale (OFS) of the defence company Bharat Dynamics will open for subscription for retail investors today. The non-retail quota was subscribed 1.4 times yesterday. The government seeks to offload 15% (10%+ additional 5%) stake in the company through OFS. The centre which owns 87.75% stake in the company is looking to offload 2.71 crore shares. The floor price for the OFS has been fixed at Rs 330 per share, a 14% discount to Monday’s closing price of Rs 384.50. The OFS includes 1.83 crore shares in a base offer and another 91.64 lakh shares in case of oversubscription.
 
Delhi bar and pubs: The bars, restaurants and pubs will be reopened today in Delhi on a trial basis. The bars and pubs will remain open outside the containment zones in the national capital from September 9 to 30, 2020, on a trial basis subject to strict compliance to COVID-19 SOPs.

Asset Monetisation: Core Group Meeting on Asset Monetisation is scheduled to be held today.

Hexaware Technologies: Open offer for delisting of the shares of the IT service Management Company will start today. The open offer will remain open till September 15, 2020. The floor price of the offer has been decided at Rs 264.97 per share.

NITI Aayog: The government think tank is scheduled to meet today.

ABB Power Products and Systems India Limited: Open offer for the acquisition of up to 1.05 crore fully paid-up equity shares of ABB Power Products and Systems India Limited from the Public Shareholders will open on September 22, 2020. The offer price has been fixed at Rs 872.68 per share.

Ex-Dividend today: Certain stocks will turn ex-dividend today. The ex-dividend date for stocks is usually set one business day before the record date. Details

Gujarat State Petronet Ltd: Dividend – Rs 2.00 
Gujarat Gas Ltd: Dividend – Rs 1.25 
HSIL Ltd: Dividend – Rs 3.00 
Igarashi Motors India Ltd: Final Dividend - Rs 1.20 
Shipping Corporation of India Ltd: Final Dividend - Rs. - 0.7500 
Tamil Nadu Newsprint & Papers: Final Dividend – Rs 6.00 
Uflex Ltd: Dividend – Rs 2.00 
Wall Street Finance Ltd: Final Dividend - Rs 1.50

Post Market Results: These companies, like Spencer's Retail, Mafatlal Industries, Future Consumer, Texmaco Rail and Dishman Carbogen, have reported their financial results after the market hours on Tuesday. Find in details: 

Spencer’s Retail Ltd.: Retail-store Company Spenser’s Retail has reported a consolidated loss of Rs 55 crore for the quarter ended June 30, 2020. It had posted a net loss of Rs 2 crore in the corresponding quarter last fiscal. Sales dropped 8.9% to Rs 547 crore in the period under observation from Rs 601 crore posted last year. It has posted a negative EBITDA of Rs 10 crore as against a positive EBITDA of Rs 22 crore posted last year. The margin contracted to a negative zone and stood at – (minus) 1.8% in Q1FY21 as against a positive margin of 3.6% posted in Q1FY20.

Mafatlal Industries: Reported a consolidated loss of Rs 38 crore for the quarter ended June 30, 2020. It had posted a net loss of Rs 5 crore in the corresponding quarter last fiscal. Revenue from operations dropped 84.9% to Rs 41 crore in Q1FY21 as compared to Rs 272 crore posted in Q1FY20.
 
Future Consumer: The company had reported a consolidated loss of Rs 68 crore for the quarter ended June 30, 2020. It had posted a consolidated loss of Rs 15 crore in the corresponding quarter last year. Sales dropped 63.6% to Rs 381 crore in the period under observation against Rs 1,048 crore posted in last year in the same period. It has posted a negative EBITDA of Rs 28 crore against a positive EBITDA of Rs 36 crore posted last year. Margin contracted to negative zone to – (minus) 7.3% in Q1FY21 from 3.4% posted in Q1Fy20.

Texmaco Rail: Reported a consolidated loss of Rs 26 crore for the quarter ended June 30, 2020. It had posted a consolidated profit of Rs 10 crore in the corresponding quarter last year. Sales dropped 44.3% to Rs 218 crore in the period under observation against Rs 392 crore posted last year in the same period. It has posted a negative EBITDA of Rs 15 crore in Q1FY21 as against a positive EBITDA of Rs 36 crore posted last year. The margin moved to a negative zone to – (minus) 6.8% in Q1FY21 from positive margin of 9.1% posted in Q1FY20. 

Dishman Carbogen: The contract research and manufacturing services (CRAMS) company on Tuesday reported a consolidated loss of Rs 21 crore for the quarter ended June 30, 2020. It had posted a consolidated profit of Rs 34 crore in the corresponding quarter last fiscal. Sales dropped 9% to Rs 474 crore in the period under observation as against Rs 522 crore posted in the same period last year. EBITDA stood at Rs 43 crore, down 63.8% to Rs 119 crore posted last year. The margin contracted to 9.07% in Q1FY21 as against 22.8% posted in Q1FY20. 

Power Grid Corporation of India: CCEA has approved Asset Monetization of subsidiaries of Power Grid Corporation of India Limited (POWERGRID) through Infrastructure Investment Trust (InvIT). It has approved POWERGRID to undertake monetization of its Tariff Based Competitive Bidding (TBCB) assets, held in existing Special Purpose Vehicle (SPVs), through Infrastructure Investment Trust (InvIT).

FDC Ltd: The buyback offer of 21,63,000 equity shares of the pharmaceutical company’s FDC Ltd will open from September 16, 2020, and close on September 29, 2020, for a consideration of Rs 450 per share.

Fund action: Fund action was seen it few stocks, namely Future Consumer, Future Supply, Strides Pharma Science and Tejas Network. Details:

Future consumer: Enam Finance has sold 1 crore shares at Rs 10.13 per share.
Future supply: Edelweiss Crossover Opportunities Fund has sold 4.21 lakh shares at Rs 129.33 per share. Dhunseri Ventures has sold 2.27 lakh shares at Rs 129.2 per share. Tejas Tradefin LLP has bought 3 lakh shares at Rs 129.2 per share. 
Strides Pharma Science: Societe Generale has acquired 6.26 lakh shares at Rs 612 per share. Brookdale Mauritius International sold 6.26 lakh shares at Rs 612 per share 
Tejas Network: Mayfield XII Mauritius FDI sold 44.42 lakh shares at Rs 66.46 per share.