Stocks in Focus on March 30: Nazara Technologies, MMTC, NMDC, Reliance Industries to PVR; here are the 5 Newsmakers of the Day
Domestic equity benchmarks ended with strong gains on Friday, March 26, 2021, mirroring firm global stocks. The S&P BSE Sensex gained 568.38 points or 1.17 per cent to close at 49,008.50.
Domestic equity benchmarks ended with strong gains on Friday, March 26, 2021, mirroring firm global stocks. The S&P BSE Sensex gained 568.38 points or 1.17 per cent to close at 49,008.50. The Nifty 50 index surged 182.40 points or 1.27 per cent to close at 14,507.30. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, March 30, 2021. List of such five stocks:
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Nazara Technologies Listing + Barbeque Nation IPO update
Nazara Technologies: Mobile gaming platform Nazara Technologies is likely to be listed on the stock exchanges today, i.e. on Tuesday, March 30. Nazara Technologies' initial public offer (IPO), boosted by high demand from institutional investors, was subscribed a whopping 175.46 times on the last day of subscription on March 19, 2021. The Rs 582.91 crore IPO was open for subscription between March 17 and March 19 and the shares were sold in the price band of Rs 1,100-Rs 1,101 per share.
Barbeque Nation IPO: Barbeque Nation's initial public offering (IPO) was subscribed 5.98 times on the last day of subscription, i.e. on March 26, 2021. The retail portion of the offer was subscribed 13.13 times, while QIB and NII were subscribed 5.11 times and 3.10 times, respectively. The company has fixed the price band for its issue at Rs 498-500 per share. Barbeque Nation had plans to raise around Rs 453 crore at the upper end of the price band.
OFS update: Wabco India + DEN Network+ Hathway Cable
Wabco India: The Offer for Sale (OFS) of Wabco India was subscribed 2.7 times on the last day of subscription. The retail portion was subscribed 1.69 times and the non-retail portion was subscribed 3.35 times. Now, the promoter can sell up to 12.68% stakes (New Base Issue: 9.05% + New Oversubscription Issue: 3.62%) through the OFS. The promoter had a plan to sell 18.10% stakes (Base Issue: 9.05% + Oversubscription Issue: 9.05%) through an offer for sale (OFS). The floor price of Rs 5,450 per share is at a discount of 10.67% to Wednesday's closing price of 6096.25 on NSE.
DEN network: The offer for sale of Den Network will open for the retail investors today. Den Network's floor price for the offer has been set at Rs 48.50, a discount of 11.5%. The company seeks to raise up to Rs 269 crore via this OFS. The non-retail portion was subscribed 1.17 times on Friday.
Hathway Cable: The offer for sale of Hathway Cable will open for the retail investors today. Hathway Cable's floor price for the offer has been fixed at Rs 25.25, a discount of 11.7% to Thursday's closing price. The company seeks to raise up Rs 853 crore via OFS. The non-retail portion was subscribed 0.44 times on Friday.
MMTC/ NMDC: Stocks of NMDC and MMTC will be in focus today as the government has received multiple expressions of interest from bidders for the privatisation of Neelachal Ispat Nigam Ltd (NINL). The transaction has now moved ahead to the second stage. MMTC holds 49.78 per cent stakes in NINL, while NMDC holds 10.10 per cent stakes in the state-owned company. Last week, Zee Business exclusively reported that the government will not extend the deadline for EoI submission for NINL as it is confident that the divestment process of the company will enter its second phase in March 2021.
Reliance Industries: Board on Friday approved two calls on more than 42.26 crore partly paid-up equity share issued on the right basis. The first call of Rs. 314.25 per partly paid equity share payable from May 17, 2021, to May 31, 2021, both days inclusive. The Second & final call is of Rs 628.50 per partly paid equity share payable from November 15, 2021, to November 29, 2021, both days inclusive.
Lockdown Risk Impact
PVR + Inox Leisure +NESCO + Phoenix Mills + Speciality Restaurants + Westlife Development: Maharashtra government may enforce a lockdown in the state from April 2-3, 2021, reports. The government may decide in light of the increasing number of corona cases in the state. According to sources, malls, multiplexes and auditoriums will be asked to shut down. Besides, the state government has already imposed a night curfew on the state, effective from March 28, 2021. Under the night curfew, all malls, multiplexes and restaurants have been directed to be close between 8 pm to 7 am. However, home delivery has been allowed.
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