Stocks in Focus on November 16: Tarsons Products IPO, MCX, Tinplate, Macrotech Developers, Auto Stocks and many more

Equity markets ended almost flat on Monday, November 15, 2021. The S&P BSE Sensex on Monday closed with a gain of 32.02 points or 0.05 per cent at 60,718.71. The Nifty 50 index rose 6.70 points or 0.04 per cent to end at 18,109.45.

But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, November 16, 2021. List of such five stocks:

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Tarsons Products Ltd IPO: The initial public offering (IPO) of the labware and life science products company Tarsons Products Limited was subscribed 1.09 times on the first day of bidding. The Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.17 times and 2.12 times, respectively.

Today is the second day for bidding for the issue that will close on Wednesday, November 17, 2021. The company has fixed the price band for the offer at Rs 635-662 per equity share for its Rs 1,024-crore initial share sale. The initial public offering comprises of fresh issue of up to Rs 150 crore and an offer for sale of up to 1.32 crore shares worth Rs 874 crore by the promoters and an investor.

MCX: The SEBI-appointed Commodity Derivatives Advisory Committee (CDAC) has approved a proposal to allow eligible Foreign Portfolio Investors (FPIs) to invest in the commodity derivatives segment, sources. It also agreed on the entry of FPIs in both Agri and non-Agri segments but it would not cover sensitive commodities.

Foods & Inns Ltd: The company will be listed on the National Stock Exchange today.

Tinplate Company of India: The tinplate manufacturer and subsidiary of Tata Steel Ltd. has reported a 181 per cent year-on-year (YoY) rise in profit at Rs 74.93 crore for the quarter ended September 30, 2021, as against a profit of Rs 16 crore posted in a year-ago quarter.

Its revenue from operation grew 80 per cent YoY to Rs 885 crore against Rs 491 crore posted in September 2020 quarter. EBITDA grew 234 per cent to Rs 107 crore as against Rs 31.9 crore posted last year. Margin improved to 12 per cent in Q2FY22 as against 6.5 per cent posted in Q2FY21.

Macrotech Developers: Realty major Macrotech Developers Ltd, formerly Lodha Developers, on Monday announced a Qualified Institutional Placement (QIP) to raise up to Rs 4,000 crore via a share sale. The company will be issuing around 3.4 crore new shares through this issue, which will result in dilution of about 7.5 per cent pre-issue outstanding equity capital.

The floor price for the issue is Rs 1,184.70 per share. Besides, the Board of Directors of the Company is scheduled to meet on Thursday, November 18, 2021, to consider and approve the issue price, including a discount, if any, for the Equity Shares to be allotted to qualified institutional buyers, pursuant to the Issue. Proceeds to be used for capital expenditure including acquisition of land, land development rights or development rights, deleveraging and general corporate purposes.

Escorts + Apollo Tyres + M&M + TVS Motors

Escorts: Escorts Agri Machinery (EAM), division of Escorts Limited, shall be increasing the prices of its tractors effective November 21, 2021. There has been a steady rise in commodity prices necessitating a price hike to offset the impact of the continuing inflation. The increase in prices would vary across models and variants.

Besides, the Board of Directors of the Company is scheduled to meet on November 18, 2021, to consider and approve and evaluate proposals for raising funds by way of issue of bonds/ debentures/ non-convertible debt instruments/ securities and/or any other instruments.

Apollo Tyres: Apollo Tyres is taking a price hike of 3-5 per cent in the domestic market in the third quarter of this fiscal to offset the impact of rising commodity prices.

M&M, TVS Motors: Mahindra Electric Mobility, TVS Motor Co., Kinetic Green Energy and Power Solutions, Etrio, Mali and Keto Motors have placed the lowest bids for the state-run Convergence Energy Services Ltd’s (CESL) tender to procure 100,000 electric three-wheeled vehicles. The tender value for the tender is estimated to be Rs 3,000 crore. The lowest bid was found at 20 per cent less than the current market price.

Phoenix Mills: The Phoenix Mills Limited and Canada Pension Plan Investment Boara ('CPPIB') have entered into a joint venture to develop a property in the Lower Parel area of Mumbai. As per the agreement, CPPIB will be investing Rs 1,350 crore for 49 per cent of stakes in Plutocrat Commercial Real Estate Pvt Ltd (PCREPL), the entity that will own the asset.

Jindal Steel & Power: India’s leading infrastructure Steel company increased its steel production by 7 per cent (YoY) to 6.24 lakh tonnes in October 2021 compared to 5.85 lakh tonnes during the same period in the previous year. However, JSPL’s Steel Sales observed a 1 per cent (YoY) dip at 5.93 lakh tonnes in October 2021 against 6.0 lakh tonnes in October 2020.

Sales growth lagged production during the month due to lack of rake availability, as the government focused on supplying thermal coal to power plants. Exports accounted for 23 per cent of sales volumes as the Company prioritised domestic demand.

SAIL: Brickwork Ratings has upgraded Credit Ratings for the Non-Convertible Debentures (NCD) of SAIL and has reaffirmed the ratings of the NCD issues of the company with the change in outlook from BWR AA 'Negative' to BWR AA 'Stable'.

Bulk Deals

SJS Enterprises: Credit Suisse Singapore Limited (ODI) Sold 365,607 Shares at Rs 530.78 per Share. Rasmikantbhai A Thakkar offloaded 2,48,981 equity shares in the company at Rs 542 per share. Goldman Sachs Funds - Goldman Sachs India Equity Portfolio bought 254,786 Shares at Rs 527.04 per share.

PB Fintech: Capital Research And Management Co A/C New World Fund Inc bought 34,18,354 Shares at Rs 1192.96 per share.

Sirca Paints India: PGIM India Mutual Fund (PGIM India Midcap Opportunities Fund) bought 163,874 Shares at Rs 435.74 per share.