Stocks in Focus on July 7: GR Infraprojects, Clean Science, NMDC, Tata Steel to GSK Pharma; here are the 5 Newsmakers of the Day

The domestic stock markets ended a volatile session with minor losses on Tuesday, July 6, 2021, amid mixed global cues. The S&P BSE Sensex fell 18.82 points or 0.04 per cent at 52,861.18. The Nifty 50 index fell 16.10 points or 0.10 per cent to end at 15,818.25. But certain stocks came in the news after the market was closed. These stocks can impact the indices, when it reopens on Wednesday, July 7, 2021. List of such five stocks:

IPOs: GR Infraprojects + Clean Science & Technology

GR Infraprojects Ltd: The initial public offering of GR Infraprojects Ltd (GRIL) will open for subscription today in a price band of Rs 828-837. The promoters aim to raise Rs 963 crore from the issue which closes on Friday, July 9. Besides, The Gujarat-based construction & engineering firm has raised Rs 283 crore from anchor investors. Some of the anchor investors include Abu Dhabi Investment Authority 6%, Blackrock Global Funds 4.24%, Fidelity Asian Values 4.6%, HDFC Infra Fund 4.1%, Allianz Global 4.6%, Aditya Biral Sunlife 4.58% and Franklin India Smaller fund 4.59% among others. 
Clean Science & Technology: The initial public offering of Clean Science will open for subscription today in the price band of Rs 880-900 apiece. The company seeks to raise Rs 1,546 crore from the public offering. Speciality chemical company Clean Science has raised Rs 464 crore from 41 anchor investors on Tuesday, ahead of its IPO opening. Some of the investors include the Government of Singapore 8.62%, Nomura 8.62%, Ashoka India 8.62%, Blackrock 5.39%, Aberdeen Global 5.39%, Goldman 4.96%, Abu Dhabi Invest, Axis Fund 4.4%, HDFC Fund 5.69% and SBI Fund 5.68% among others. 

NMDC: The offer for sale (OFS) of the state-owned iron ore company was subscribed 2.13 times on the first day by the non-retail investors. The floor price for the offer has been fixed at Rs 165 per share. The OFS will open for retail investors today. The government seeks to offload 7.49% stakes in NMDC through an OFS (4% base offer + 3.49% as an oversubscription option). The government expects to raise Rs 3,622 crore from the sale. 

Quarterly Update Q1FY21-22: Titan + RBL Bank + Sobha + NCL 

Titan: Tata Group company Titan in its Q1FY22 business update said that its revenue grew 117% in the reported quarter. It said the jewellery segment grew 107% in the quarter, while the watches and wearables sales grew 280% and the eyewear segment has grown 117% in the period under consideration. 

RBL Bank: The private lender in its Q1FY22 business update said that its deposits grew 21% YoY to Rs 74,480 crore as compared to Rs 61,736 crore posted last year. Sequentially, the lender’s deposits grew 2%. Advances grew 2% YoY to Rs 58,755 crore compared to Rs 57,743 posted last year. Sequentially, the advances fell 2%. CASA ratio increased to 33.7% compared to 30.1%. The mix of retail wholesale advances was approx.57:43. 

Sobha Ltd.: The company has achieved a 40% YoY rise in total sales at Rs 683 crore in Q1FY22 compared to Rs 488 crore posted last year. New sales volume grew 37% YoY to 8.95 lakh square feet in Q1FY22 compared to 6.5 lakh square feet sold in Q1FY21. Price Realization Rs/Sq Ft grew 2% to Rs 7,626 as compared to Rs 7,498. During the quarter, Gurugram, Kochi, Thrissur, Pune and GIFT CITY have done quite ·well as compared to Ql-21 despite the impact of COVID second wave 

NCL: The company in its monthly business update said the cement production grew 52% YoY in June 2021, while dispatches grew 44% YoY. There was a growth in every product of the company. 

Tata Steel/JSPL: In focus today as the Odisha government on Tuesday accorded in-principle approval for five major industrial projects worth Rs 1.5 lakh crore in the sector of metal and metal downstream. It has approved Tata Steel’s Kalinga Nagar extension with an investment of Rs 47,600 crore. It also approved the expansion of Jindal Steel and Power Limited’s 6 MTPA existing integrated steel plant from the proposed capacity of 18.6 MTPA to 25.2 MTPA. It also approved the expansion of Bhushan Power and Steel Limited’s integrated steel plant from 5 MMTPA to 15 MMTPA. It approved the expansion of Rungta Mines Limited’s Integrated Steel Plant from the proposed capacity of 2.85 MMTPA capacity to 7.55 MMTPA by adding a capacity of 4.7 MMTPA. Besides, there are reports that Tata Steel has planned an annual CapEx of Rs 12,000 crore for the next five years for capacity expansion. 

Sanofi / GSK Pharma: Sanofi, the French pharma giant, has plans to conduct a part of the global phase 3 trial of its COVID vaccines in India. The vaccine is being developed with UK firm GlaxoSmithKline (GSK). The company has asked for approval from the Controller General of India (DCGI) to conduct the phase 3 trial. If it gets approval, it will be the first global trial for a foreign COVID vaccine in India.