Stocks in Focus on March 28: Uma Exports IPO, Vedanta, PVR, Bharti Airtel and many more

The key equity benchmarks ended with modest losses on Friday, March 25, 2022. The Nifty closed a tad above the 17,150 level. The barometer index, the S&P BSE Sensex fell 233.48 points or 0.41% to 57,362.20. The Nifty 50 index lost 69.75 points or 0.40% to close at 17,153.00. During the week, the Sensex fell 502 points or 0.87 per cent while the Nifty 50 index lost 134 points or 0.78 per cent. Global share markets were mixed and traded in a narrow range during the week as investors remained cautious over the ongoing Russia-Ukraine conflict. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, March 28, 2022. List of such Stocks:

Uma Exports IPO: The company will launch its initial public offering (IPO) today. The public offer will close on March 30, 2022. Uma Exports Ltd has set the price band for its public issue at Rs 65-68 a share with an am to raise around Rs 60 crore. The company will utilise Rs 50 crore out of this to fund its working capital requirements. The market lot size is 200 shares. 

See Zee Business Live TV Streaming Below:

Ruchi Soya FPO Update: Patanjali-backed FMCG company Ruchi Soya Industries follow-on public offering (FPO) which opened for bidding on Thursday was subscribed 37 per cent on Friday, the second day for bidding. The portion set aside for Retail Individual Investors (RIIs) was subscribed 0.39 times. The Qualified Institutional Buyers (QIBs) and Non-Institutional Investors portions were subscribed 0.41 times and 0.26 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.

See Zee Business Live TV Streaming Below:

Vedanta: Board of Directors of the Company on Friday approved expansion plans worth Rs 11,000 crore. The Board has approved a CapEx of Rs 5,200 crore Cairn Oil & Gas towards infill wells, development and exploration. It also approved the expansion plan of the Zinc International - Gamsberg Phase-2 Project worth Rs 3,500 crore. In addition, the Board has also approved the expansion plan of ESL Steel Limited, a subsidiary of the Company - 3 MTPA growth Project with an investment of Rs 2,600 crore.

PVR: The Board of Directors of PVR Limited (PVR) and the Board of Directors of INOX Leisure Limited (INOX), at their respective meetings held on Sunday, have approved an all-stock amalgamation of INOX with PVR. The amalgamation is subject to the approval of the shareholders of PVR and INOX respectively, stock exchanges, SEBI and such other regulatory approvals as may be required. Ajay Bijli to be appointed as the Managing Director of the merged entity and Pavan Kumar Jain to be the Non-Executive Chairman of the Board. INOX shareholders will receive 3 shares in PVR for 10 shares of INOX. Besides, PVR has on Friday opened a five-screen multiplex, PVR Atrium in Hyderabad. With this, the company has unveiled its 11th property in Hyderabad and crossed 300 screens in South India. 

Bharti Airtel / Vodafone / Indus Tower: Bharti Airtel will acquire Vodafone's 4.7% stake in Indus Towers for Rs 2,388 crore. The transaction will be executed at Rs 187 per share basis. Besides, Bharti Airtel to acquire a 7.036% stake in Avaada KNShorapur Private Limited. 

DLF: The realty major plans to invest around Rs 2,000 crore to construct two new shopping malls in Gurugram and Goa, as it sees huge growth potential in organised retail with opening up of the economy after significant reduction in COVID-19 cases. The company has said that it has started the construction of a premium mall in Goa of about 5.75 lakh square feet. It is in the advanced stage of planning its 'Mall of India' Gurgaon comprising 25 lakh square feet area. 

Emami:  The company has acquired "Dermicool", one of the leading brands in Prickly Heat Powder and Cool Talc Category from Reckitt Benckiser Healthcare (India) Private Limited for a total consideration of Rs 432 crore. The acquisition is funded through internal accruals and is subject to customary closing conditions. Dermicool commands a 20% market share in the high growth and low penetrated category.

L&T: Indian conglomerate, Larsen & Toubro Ltd. (L&T) won an Rs 887 crore order from the Ministry of Defence for manufacturing two multi-purpose vessels (MPVs) for the Indian Navy.

GAIL: The Board of Directors of the Company will meet on Thursday, March 31, 2022, to consider Buy-Back of the fully paid-up equity shares of the Company. Besides, Gazprom, reportedly, has asked India's largest gas transmitter GAIL (India) GAIL to pay for gas imports in Euros instead of dollars. 

Pharma Stocks In Focus: The government has approved a 10% hike on price-controlled drugs effective from April 2022. With this approval, the prices of over 850 formulations across are expected to go up by at least 10%.

Sagar Cement: The cement maker will issue 1.32 crore equity shares at Rs 265 each on a preferential basis to PI Opportunities Fund ("PIOF"), an affiliate of Premji Invest. Sagar Cements will raise over Rs 350 crore from the preferential issue. Post the investment, PIOF will own 10.10% of Sagar Cements and will have a nominee on the board. Promoters' ownership in the company, after the allotment, will be at 45.20% (from 50.28%).

Wipro Ltd: The Board of Directors of the Company on Friday approved an interim dividend of Rs 5 per equity share for the Financial Year 2021-22.