Stocks in Focus on March 25: Ruchi Soya FPO, OMCs, Motherson Sumi, Eicher Motors, Gulshan Polyols and many more

The domestic equity barometers ended with minor cuts on Thursday, March 24, 2022, tracking negative global cues. The barometer index, the S&P BSE Sensex fell 89.14 points or 0.15% to 57,595.68. The Nifty 50 index lost 22.90 points or 0.13% to settle at 17,222.75 But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, March 25, 2022. List of such Stocks:

Ruchi Soya FPO Update: Patanjali-backed FMCG company Ruchi Soya Industries follow-on public offering (FPO) which opened for bidding on Thursday was subscribed 12 per cent by the end of the day with total applications coming in for 56,30,709 equity shares against 4,89,46,260 equity shares. The portion set aside for Retail Individual Investors (RIIs) was subscribed 0.21 times. The Qualified Institutional Buyers (QIBs) and Non-Institutional Investors portions were subscribed 0.01 times and 0.03 times. Edible oil maker Ruchi Soya Industries launched its follow-on public offer (FPO) worth up to Rs 4,300 crore on Thursday, March 24, 2022, which will close on March 28, 2022. It has fixed a price band of Rs 615-650 for this FPO.

IOC / HPCL / BPCL: Petrol and diesel price hiked by 80 paise per litre from today. This is the third price hike in the last four days. 

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Motherson Sumi: Auto components major Motherson on Thursday said it has bagged an order from Boeing to manufacture and supply aftermarket moulded polymer parts for commercial aeroplane interiors. This is the first order for Motherson from Boeing and will commence from the third quarter of FY23. It will be produced at a plant situated in Noida, the company said in a statement. Besides, Motherson Sumi Wiring India will be listed on bourses on March 28, 2022. 

MCX / BSE: Markets watchdog SEBI on Thursday said that recognized stock exchanges having a commodity derivative segment will be allowed to introduce options on commodity indices. The exchanges willing to introduce trading in options on commodity indices shall take prior approval of Sebi for the same. Options will be traded only in those indexes in which futures trades will take place. Further, the stock exchanges will have to submit at-least past three-years data of the index constructed along with data on monthly volatility, rollover yield for the month and monthly return while seeking approval.

Eicher Motors: VE Commercial Vehicle (VECV), a joint venture between Eicher Motors and Volvo Group, reportedly, can make a separate unit for commercial electric vehicles. VECV would be open to private equity funding.

Gulshan Polyols: The Board of Directors of the Company on Thursday approved the allotment of 24,16,000 Equity shares to eligible QIB at the issue price of Rs 326.48 per equity share (at a 15.6% discount on the current market price of Rs 386.75 per share). The company has fixed the floor price of Rs 343.66 per equity share for an aggregate of Rs 78.87 crore to be allotted to eligible qualified institutional buyers in the QIP. The Issue opened on March 21, 2022, and closed on March 24, 2022.  

Jindal Photo Limited: The company's voluntary delisting offer has failed as it did not exceed 90% of the total issued Equity Shares. The indicative price for delisting stood at Rs 269. 

Tata Consumer Products: The Board of Directors of the Company is scheduled to meet on March 29, 2022, to consider the issue of equity shares of the Company by way of preferential allotment, of up to 1.5% of the paid-up share capital of the Company, to a foreign company.

Exide industries ltd.: Chloride Metals Limited, a material wholly-owned subsidiary of Exide Industries Limited, has started commercial production at its newly set-up greenfield manufacturing facility of battery recycling at Haldia, in the state of West Bengal. The said recycling plant is spread over an area of more than 21 acres. The total installed capacity of the plant is 108,000 MT p.a. With the addition of this new recycling plant, Chloride Metal Limited is now operating with three battery recycling plants, situated in the state of Maharashtra, Karnataka & West Bengal. 

Religare: The Board of Directors of the Company on Thursday on order to expand the financial service's footprint to ensure that the Company and the Group can take advantage of the favourable market conditions and become a 360-degree financial services conglomerate; leveraging its existing business strengths, has approved entering into new business segments (i.e. Debt Management Services, Asset Reconstruction, Insurance Broking & Alternate Investment Fund), subject to requisite regulatory approvals as may be applicable. The Company will be undertaking said businesses in separate entities to be formed under the Company in due course

Paytm: RBI, reportedly, will review the company's business model of payment aggregators due to the alleged fraud of unauthorized sharing of financial data of customers that were reported recently. 

Fund Action  

Kotak Mahindra Bank: the University of California bought 1.12 crore shares at Rs 1,699/share. Canada Pension Plan Investment Board sold 4 crore shares at 1,700/share (Rs 6,800 crore). 
Kalpataru Power: SBI Funds Management has bought 14.5 lakh shares of the company via the open market on March 23, 2022. With this, it has raised its stakes in Kalpataru Power from 6.27% to 7.25%. 

Shaily Engineering: Lighthouse India III Equity Investors Ltd and PAC have bought 2.48 per cent stakes of the company via open market on March 24, 2022. With this, it has raised its stakes in Shaily Engineering from 6.62% to 9.1%.