Stocks in Focus on December 24: Data Pattern, L&T Finance Holdings, Allcargo Logistics, Biocon, Credit Card Companies and many more

The benchmark indices, Sensex and Nifty, on Thursday, December 23, 2021, gained more than half a per cent in volatile sessions. The BSE Sensex rose 385 points, or 0.68 per cent to trade at 57,315. The NSE Nifty also surged 117 points, or 0.69 per cent, to trade at 17,073. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, December 24, 2021. List of such five stocks:

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Data Pattern Listing + Data Pattern Listing

Data Pattern IPO Listing: Shares of Data Pattern will debut on the bourses, NSE & BSE, today, i.e., December 24, 2021. The issue price of the shares was Rs 585 per share. The initial public offering (IPO) of the vertically integrated defence and aerospace electronics solutions provider Data Patterns (India) Limited closed on Thursday with 119.62 times subscription. The Qualified Institutional Buyers (QIBs) portion was subscribed record 190.86 times while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 254.22 times and 23.14 times, respectively. The company had fixed a price range of Rs 555-585 per equity share for an issue worth Rs 588 crore. The issue comprised a fresh issue of up to Rs 240 crore and an offer for sale (OFS) worth Rs 348 crore.

CMS Info Systems IPO: The initial public offering (IPO) of CMS Info Systems Limited, India's largest cash management company in terms of the number of ATM points and retail pick-up points, closed with a 1.95 per cent subscription on Thursday, December 23, 2021. The Qualified Institutional Buyers (QIBs) portion was subscribed 1.98 times, while the Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 1.45 times and 2.15 times, respectively. The company had plans to raise Rs 1,100 crore from the initial public offer and the initial share was entirely an offer for sale (OFS) by the promoters and existing shareholders. The shares of the company were available for bidding in a price band of Rs 205-216 per share. Retail investors can bid for the public offer for a minimum of 69 equity shares worth Rs 1,93,752, and in multiples thereof up to 13 lots.

Stocks in News

L&T Finance Holdings: L&T Finance Holdings Limited (LTFH) and HSBC Asset Management (India) Private Limited (HSBC AMC) on Thursday entered into a definitive agreement whereby HSBC AMC shall acquire 100% equity shares of L&T Investment Management Limited (“LTIM”), a wholly-owned subsidiary of LTFH, which is the investment manager of L&T Mutual Fund, for an aggregate purchase consideration of USD 425 million (Rs 3,200 crore). In addition, LTFH will also be entitled to excess cash in LTIM until the completion of the acquisition. The divestment of Mutual Fund business is in line with the strategic objective of L&T Finance Holdings of unlocking value from its subsidiaries to strengthen its balance sheet.

Allcargo Logistics: The Board of Directors of Allcargo Logistics Ltd on Thursday approved the demerger of CFS/ICD business into Allcargo Terminals Limited. It also approved the demerger of equipment rental, logistics parks and other real estate assets into TransIndia Realty & Logistics Parks Limited (TransIndia). 

United Breweries: The National Company Law Appellate Tribunal (NCLAT) has stayed the Competition Commission of India's (CCI's) order imposing a penalty of Rs 751.83 crore on the company. NCLAT has STAYED the Order passed by the CCI upon a condition of pre-deposit of 10% of the penalty amount imposed on the company. The company will comply with the directions and the said 10% amount shall be deposited through a fixed deposit receipt within stipulated time as mentioned in the Order. CCI passed an order imposing a penalty on United Breweries on September 24, 2021.

Apollo Micro Systems: The company has bagged supply orders worth Rs 5.72 crore from DRDO.

Oricon Enterprises/Kopran: Oricon Enterprises and United Shippers Limited, a Material Subsidiary of the Company, will buy 2 lakh and 22 lakh equity shares of Kopran Limited at Rs 255 per Equity Share (Face Value of Rs.10/- each including premium of Rs 245 per Equity Share) on Preferential basis, respectively.

UPL: UPL has admitted its GDR programme (presently listed on Singapore Stock Exchange) for trading on the International Order Book (IOB), London Stock Exchange's electronic trading platform for Global Depositary Receipts. The market value of the GDRs being admitted is approximately GBP 451 million (£45 crore), which represents about 8.16% of its underlined paid-up equity share capital.

Biocon: Biocon Biologics Ltd., a subsidiary of Biocon Ltd., on Thursday announced that US-based Equillium Inc., Biocon’s partner, has expanded its EQUALISE study in Systemic Lupus Erythematosus (SLE) and Lupus Nephritis for Itolizumab (ALZUMAb-L*) to clinical centres in India. EQUALISE is a Phase 1b open-label, proof-of-concept clinical study currently studying Lupus Nephritis patients in the Part B portion of the clinical trial. Equillium has initiated this study across several tertiary hospitals specialising to deal with Lupus Nephritis patients in India after obtaining approval from the Drugs Controller General of India (DCGI).

SBI Cards + Banks: In relief to credit card companies, the Reserve Bank of India (RBI) has extended the CoF Tokenisation (CoFT) deadline by 6 months to June 30, 2022. The earlier deadline was December 31, 2021. The move comes after IBA and digital payment firms voiced their concerns over industry readiness. The RBI in September prohibited merchants from storing customer card details on their servers with effect from January 01, 2022, and mandated the adoption of CoF tokenization as an alternative to card storage.
Tega Industries: The Board of Directors on Thursday gave in-principle approval for setting up an additional, larger plant in Chile at an estimated cost of Rs 175 crore.

Ajanta Pharma: The Board of Directors of the Company is scheduled to meet on December 28, 2021, to consider and approve a proposal for buy-back of equity shares including matters related /incidental thereto.

Gateway Distriparks Ltd.: LIC has sold 2.078% stakes of the company between June 15, 2018, and December 22, 2021.