Stocks in Focus on December 13: Tega Industries, MedPlus Health IPO, Vedanta, Power Grid, Nazara Technologies, Minda Industries and many more
Domestic stocks markets, Sensex and Nifty, closed almost flat on Friday, December 10, 2021, amid negative cues from the global markets. At the close, the S&P BSE Sensex ended 20.46 points or 0.03 per cent down at 58,786.67.
Domestic stocks markets, Sensex and Nifty, closed almost flat on Friday, December 10, 2021, amid negative cues from the global markets. At the close, the S&P BSE Sensex ended 20.46 points or 0.03 per cent down at 58,786.67. The Nifty 50 index fell 5.55 points or 0.03 per cent to 17,511.30. Here is the list of the top ten gainers and losers of the day on the Nifty 50 index. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, December 13, 2021. List of such five stocks:
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Listing + IPO Update: Tega Industries Listing + MedPlus Health IPO + Metro Brands IPO + MapmyIndia IPO + Shriram Properties IPO
Tega Industries Listing: Shares of Tega Industries, the leading polymer-based mill liners producer, will be listed on NSE and BSE today. The Rs 619 crore initial public offering (IPO) of Tega Industries closed on Friday, December 3, 2021, with 219 times subscription. The Qualified Institutional Buyers (QIBs) portion was subscribed 215 times (the Highest QIB subscription in the last decade). The Non Institutional Investors and Retail Individual Investors (RIIs) portion were subscribed 666 times and 29 times, respectively. The issue price for the shares is Rs 453 per equity share.
MedPlus Health IPO: MedPlus Health Services Limited, a pharmacy retailer, will launch its initial public offering (IPO), today, i.e., on Monday, December 13, 2021. The three-day initial share sale will close on Wednesday, December 15, 2021. The company has fixed a price range of Rs 780-796 per equity share as it has plans to raise up to Rs 1,398 crore from the primary market. A retail investor can bid for a minimum of 18 equity shares and in multiples thereafter. The pubic issue of the pharmacy retailer consists of the issuance of fresh equity shares worth Rs 600 crore while and an offer for sale (OFS) of equity shares aggregating up to Rs 798 crore by the promoter and existing shareholders. Besides, the Pharmacy retailer had mopped up Rs 418 crore by allocating 52.51 lakh equity shares to anchor investors at Rs 796 per share on Friday, ahead of its initial public offer opening for a subscription. Abu Dhabi investment (6.6%), Blackrock (6.6%), Fidelity (6.6%), Nomura (6.6%), Goldman (5.3%), Morgan Stanley (5.3%), HDFC Fund (5.7%), SBI Fund (5.7%), Aditya Birla (5.7%) among others were the anchor investors.
Metro Brands IPO: The initial public offering (IPO) of ace investor Rakesh Jhunjhunwala-backed Metro Brands Ltd, was subscribed 0.27 times (27%) on Friday, the first day for bidding for the issue. The Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.02 times and 0.52 times, respectively. The three-day initial share sale of the footwear retailer will close on Tuesday, December 14, 2021. The company has fixed a price band of Rs 485-500 per equity share as it has plans to raise up to Rs 1,367.5 crore through the public issue. The issue comprises a fresh issue of shares worth Rs 295 crore and an offer for sale (OFS) of up to 2,75,32,574 equity shares worth Rs 1,073 crore by promoters and other shareholders. A retail-individual investor can apply for a minimum of 30 equity shares and in multiples of 30 shares thereafter.
MapmyIndia IPO: The initial public offering (IPO) of C.E. Info Systems Limited, the operator of India's leading map and navigation services provider - MapmyIndia, was subscribed 6.16 times by 5 pm on Friday, the second day for bidding for the issue. The Qualified Institutional Buyers (QIBs) portion was subscribed 4.32 times, while the Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 6.27 times and 7.17 times, respectively. The three-day initial share sale will conclude today. The price band for the public issue has been fixed at Rs 1,000-1,033 per share. The company has plans to raise up to Rs 1,039.6 crore through an offer for the sale of existing shares. Investors can bid for a minimum of 14 equity shares and in multiples of 14 equity shares thereafter. The IPO is entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders.
Shriram Properties IPO: The initial public offering of Shriram Properties, a leading real estate developer and part of Shriram Group, closed with a 4.6 times subscription on Friday, the third and the last day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 1.04 times, while the Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 0.80 times and 7.46 times, respectively. The price band for the public issue was fixed at Rs 113-118 per share for its Rs 600-crore initial share sale. Investors were allowed to bid for a minimum of 125 equity shares and in multiples of 125 equity shares thereafter.
Vedanta: The Board of Directors of the Company has approved a Second Interim Dividend of Rs 13.50 per equity share on the face value of Re 1 per share for the Financial Year 2021-22. The record date for payment of dividends is Saturday, December 18, 2021. The interim dividend will be paid within stipulated timelines as prescribed under law.
Power Grid: Board of Directors of the Company is scheduled to meet on December 15, 2021, to consider and approve Intimation for declaration of Interim Dividend for FY 2021-22. The company has fixed December 23, 2021, as the Record Date for the purpose of ascertaining the eligibility of the Shareholders for payment of Interim Dividend, if declared, by the Board of Directors.
Burger King: The Board of Directors of the Company is scheduled to meet on December 15, 2021, to consider and approve the proposal to raise funds by way of further issue of securities through public and/or private offerings including preferential issue or qualified institutions placement (QIP).
Godrej Properties Ltd: The company has acquired 100% issued and paid-up share capital of Yerwada Developers Private Limited ('YDPL'). Post-acquisition, YDPL has become a wholly-owned subsidiary of the Company. The Company will subsequently hold 20% in YDPL, the balance to be held by a real estate-focused investment fund of Godrej Group.
Nazara Technologies: Nodwin Gaming Private Limited, a material subsidiary of Nazara Technologies Limited, has acquired of 10.26% equity stake on a fully diluted basis of Rusk Media Private Limited.
Alembic Pharmaceuticals: The company has announced that it has made a strategic investment in RIGlmmune Inc., a biopharmaceutical research company co-founded by two prominent Yale University professors. Alembic has acquired preferred stock in RIGlmmune amounting to a 19.97% post-money stake in the first closing of the series seed round that was completed recently.
Minda Industries: The leading global manufacturer and supplier of proprietary automotive solutions have announced that it has entered into a Joint Venture agreement with FRIWO AG Germany, a leading international manufacturer of innovative power supply units and e-drive solutions, to combine their manufacturing prowess and technical expertise to manufacture and supply various electric vehicle components in the Indian subcontinent. Minda Industries Ltd will hold a majority stake of 50.1% in the joint venture entity. While joint venture plans to incur a CapEx of Rs 390 Crore over the next 6 years to support such growth in India, the outlay in the initial two years would be around Rs 160 crore. Minda Industries Ltd plans to invest Rs 71 crore in one or more tranches as an equity investment to partly fund the above expenditure. The remaining funding requirement will be met through a mix of internal accruals, equity investment and debt. Besides, the Board of Minda Industries Limited (Flagship company of UNO Minda Group) has also approved expansion plans in its alloy wheel businesses considering increased demand for its alloy wheels from leading OEMs. Under the approved plans, Minda Kosei Aluminum Wheel Private Limited, one of the key subsidiaries of Minda Industries Ltd, will be expanding its 4W Alloy wheel capacity by 30,000 wheels/month at its plant in Gujarat, to cater to the increased demand from leading OEMs in the vicinity. This is in addition to the ongoing CapEx of 60,000 wheels/ month at Bawal Plant. The total 4W Alloy wheel capacity of Uno Minda group shall be 3,30,000 wheels per month after this enhancement. The additional capital expenditure for the aforesaid capacity expansion will be Rs 74 crore. The expanded facilities are expected to commence operations by the quarter ending June 2023. In addition to it, Minda Industries Ltd will be expanding its 2W Alloy wheel capacity by 2.0 Mn wheels per annum at its existing Supa Plant in Maharashtra. The current expansion is part of the two-phased expansion planned by the company at the time of foraying in the 2W Alloys wheel business. The current capacities are now already booked with incremental demand coming from leading OEMs requiring the company to further expand its capacities. The total 2W Alloy wheel capacity of Uno Minda group shall be 5.6 Mn wheels per annum after completion of this expansion. The additional capital expenditure for the aforesaid capacity expansion will be Rs 190 crore. The expanded facilities are expected to commence operations by the quarter ending March 2023.
Jubilant Industries Limited: The Company's material unlisted Wholly-owned Subsidiary, i.e. Jubilant Agri and Consumer Products Limited ('JACPL'), has temporarily closed down manufacturing activities at its plant located in Sahibabad, Uttar Pradesh, upon receipt of directions on December 9, 2021, from Commission for Air Quality Management in National Capital Region and Adjoining Areas. The Company is seeking legal advice to represent and/or appeal before the Competent Authority or a Court of Competent Jurisdiction for challenging and setting aside the said Direction. All the other plants of JACPL are working properly.
Globus Spirits: The company has resumed operations in the company's plant located in Jandaha, Vaishali, Bihar, which was temporarily disrupted owing to flooding and waterlogging of the factory premises caused by heavy rains since August 15, 2021. The insurance amount claimed and realized by the listed entity for the loss/damage is Rs 3.74 crore.
UltraTech Cement: The company participated in the e-auction of Ravur Limestone Shlock conducted by the Karnataka government and has been declared as the preferred bidder. The block is situated in Tehsil Chittapur, District Kalburgi, Karnataka and has total geological resources of 708 million tonnes of limestone over an area of 7 .13 sq kms.
Endurance Technologies: The company has commenced commercial production at its new plant at Waluj, Aurangabad, Maharashtra. The plant set up to manufacture braking systems will cater to the company's esteemed OEM (original equipment manufacturer) customers. The plant set up to manufacture braking systems will cater to our esteemed OEM customers.
Antony Waste Handling Cell: Its material subsidiary, AG Enviro Infra Projects Private Limited has received the letter of intent for contract namely 'door to door collection and transportation of municipal solid waste to a disposal site and operation and maintenance of equipment/machinery’ from the city - Sadar Paharganj Zone of North Delhi Municipal Corporation (NDMC). The approximate Project Revenue in 10 years is Rs 1,000 crore.
Dr. Reddy's Laboratories: Company has received approval from the U.S. Food and Drug Administration for ANDA 207577 (VeraRing). The
The company is evaluating further steps in relation to this product.
Mirza International: The Board of Directors of Mirza International Limited has approved a composite scheme of arrangement of RTS Fashions Private Limited, Mirza International Limited and Redtape Limited. The Scheme is subject to the approval of BSE Limited, the National Stock Exchange of India Limited, SEBI, shareholders and creditors of the company and such other statutory authorities as may be required and sanction thereof by the NCLT.
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