Domestic equity markets on Wednesday, December 8, 2021, jumped more than one and a half per cent amid positive cues from the global equity markets. The S&P BSE Sensex climbed 1,016 points, or 1.76 per cent to trade at 58,650. The NSE Nifty 50 also surged 293 points, or 1.71 per cent, to trade at 17,470. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, December 9, 2021. List of such five stocks:

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

See Zee Business Live TV Streaming Below:

IPO Update: RateGain Travel Technologies IPO + Shriram Properties IPO + C.E. Info Systems IPO

RateGain Travel IPO: The initial public offering of RateGain Travel Technologies Limited, a distribution technology and Software-as-a-Service (SaaS) company, was subscribed 0.75 times (75%) on Wednesday, the second day for bidding. The Non Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 0.08 times and 3.98 times respectively. The portion reserved for employees was subscribed 0.72 times. The three-day issue will conclude today. The company has fixed a price band of Rs 405-425 per equity share. At the upper end of the price band, the initial share sale is expected to fetch Rs 1,336 crore. The IPO comprises a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares worth Rs 961 crore by promoters and existing shareholders. The retail investors can place a bid for a lot of 35 Equity Shares and in multiples thereof.

Shriram Properties IPO: The initial public offering of Shriram Properties, a leading real estate developer and part of Shriram Group, was subscribed 0.89 times (89%) on Wednesday, the first day for bidding. The Non Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 0.04 times and 4.85 times respectively. The portion reserved for employees was subscribed 0.36 times. The three-day initial share sale will conclude on Friday, December 10, 2021. The price band for the public issue has been fixed at Rs 113-118 per share for its Rs 600-crore initial share sale. The initial public offering comprises a fresh issue of Rs 250 crore and an offer for sale of Rs 350 crore by investors. Investors can bid for a minimum of 125 equity shares and in multiples of 125 equity shares thereafter.
C.E. Info Systems IPO: C.E. Info Systems Limited, which operates India's leading map and navigation services provider - MapmyIndia, will launch its initial public offering (IPO) for public subscription today, i.e., on Thursday, December 9, 2021. The three-day initial share sale will conclude on Monday, December 13, 2021. 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 1,040 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, including Qualcomm Asia Pacific Pte Ltd. Besides, India's leading map and navigation services provider on December 8, 2021, garnered Rs 312 crore from anchor investors, ahead of its initial public offering that will open for subscription on December 9, 2021. Fidelity Fund (14.4%), Nomura (5.8%), Goldman (5.1%), Morgan Stanley (5.2%), HSBC (4.5%), SBI Fund (5.1%), ICICI Pru (5.2%) among others were the anchor investors.

Vedanta: Board of Directors of the Company in its meeting scheduled on December 11, 2021, will consider and approve Second Interim Dividend on equity shares, if any, for the Financial Year 2021-22. The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Saturday, December 18, 2021.

Can Fin Homes: Board of Directors of the Company in its meeting scheduled on December 14, 2021, will consider the proposal of payment of ''Interim Dividend'', if any, for the financial year 2021-22 and to fix ''Record date'' for the purpose of payment of Interim Dividend. 

Asian Paints: The company in its reply to InGovern’ s Report has said that the report published by InGovern, a corporate governance advisory firm, appears to be based on incorrect facts and premise-based on hearsay rather than any serious investigation. We believe the following narrative will help build a clear and distinct picture of the robust and rigorous process followed by the Company while dealing with related parties. We specifically, refute all the allegations made by InGovern in this Report relating to the Company and its practices with all the emphasis at our command. It added, Total purchases by Asian Paints Limited from Paladin amounted to only Rs.1.3 crores, that is 0. 2% and not 7% as reported. The report makes it clear that InGovern does not have adequate facts or data of the practices followed by the Audit Committee/Board of the Company for approval of related party transactions.

Railtel: RailTel Corporation of India Ltd. has received a work order from M/s. Ircon International Limited for Design, Supply, Installation, Testing & Commissioning of Tunnel communication system consisting of Emergency Call & Service Telephone, CCTV, Tunnel Radio and PA system in Tunnel Environment on Dharam - Banihal section of Jammu Kashmir Rail Link Project under Ferozepur division of Northern Railway at a total cost of Rs 210.77 Crore (Inclusive of GST). The entire work is to be completed in a period of 12 months.

Gland Pharma: The generic injectable focused pharmaceutical company on Wednesday received tentative approval from the United States Food and Drug Administration (US FDA) for Cangrelor for Injection, 50 mg/vial Single-Dose Vials. Gland Pharma believes that we are amongst one of the first to file for this product and may be eligible for 180 days of generic drug exclusivity. Gland Pharma will launch the product with its marketing partner on receipt of final approval. Cangrelor is used during the percutaneous coronary intervention (PCI) for reducing the risk of heart attacks.  

M&M/Reliance: Jio-bp and Mahindra Group signs a non-binding MoU for EV and low-carbon solutions. Under the MoU, Mahindra Group and its channel partner locations will be evaluated for the setting up of Jio-bp Mobility Stations and EV charging and swapping points apart from utilizing existing Jio-bp stations. The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3 and 4 wheelers, quadricycles and e-SCV (Small Commercial Vehicles – sub 4 ton). This would include captive fleets and last-mile mobility vehicles of Mahindra Group. The partnership aims to leverage the strengths of both companies in the areas of EV products and services.

United Breweries: Beer maker United Breweries Ltd (UBL) has approached the appellate tribunal National Company Law Appellate Tribunal (NCLAT) against approx a Rs 750 crore penalty imposed on the company by the fair trade regulator Competition Commission of India (CCI). The CCI on September 24, 2021, imposed a fine of approx Rs 750 crore for alleged cartelisation in the sale and supply of beer. The NCLAT is the appellate authority over the CCI. It hears appeals against any direction issued or decision made or order passed by CCI.

HCL Technologies (HCL): IT firm HCL Technologies and Deutsche Apotheker- und Ärztebank eG (apoBank), the largest cooperative primary bank in Germany, have signed with Atruvia AG an agreement to acquire IT consulting company Gesellschaft für Banksysteme GmbH (gbs). The total purchase price is €99,000 (about Rs 84 lakh). The transaction is expected to close in January 2022, subject to closing conditions, including regulatory approvals. Post-closing, HCL will own 51%, while apoBank will own a 49% stake of gbs. apoBank is currently a 10% shareholder and is increasing its stake in gbs from 10% to 49%.