Stocks in Focus on November 18: Paytm, Sapphire Foods, Go Fashion IPO, Vedanta, Footwear Stocks and many more

The equity benchmarks, Sensex and the Nifty, on Wednesday, November 17, 2021, fell more than half a per cent. Both equity indices ended down amid negative cues from other Asian stocks. The BSE Sensex declined 314 points, or 0.52%, to finish at 60,008. The NSE Nifty 50 also tumbled 101 points, or 0.56%, to end at 17,899. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, November 18, 2021. List of such five stocks:

Listings & IPO Updates

Paytm IPO Listing: The shares of One 97 Communications Limited, the parent company of India's leading digital financial services company, Paytm, will debut on the bourses, NSE & BSE, today. The initial public offering (IPO) of Paytm was subscribed 1.89 times on Wednesday, the third and the final day of bidding. The Qualified Institutional Buyers (QIBs) portion of the public issue was subscribed 2.79 times, while the Non Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.24 times and 1.66 times, respectively. The company has fixed the price band at Rs 2,080-2,150 per share for the offer as it had plans to raise around Rs 18,300 crore from the issue.  
 

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Sapphire Foods IPO Listing: The shares of Sapphire Foods India Limited, a franchise operator of KFC and Pizza Hut restaurants, will debut on the bourses, NSE & BSE, today. The initial public offering (IPO) of Sapphire Foods India Limited was subscribed 6.62 times on Thursday, the third and the last day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 7.50 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) were subscribed 3.46 times and 8.70 times, respectively. Sapphire Foods had fixed the price band of the issue at Rs 1,120-1,180 per share as it had plans to raise up to Rs 2,073.25 crore through the issue.
 

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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 77.49 times on Wednesday, the third and the last day of bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 115.8 times while Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 184.6 times and 10.6 times, respectively. The employee portion was subscribed 1.83 times. 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 comprised of fresh issue of upto Rs 150 crore and an offer for sale of up to 1.32 crore equity shares worth Rs 874 crore by the promoters and an investor.
 

Go Fashion (India) Limited IPO: The Initial Public Offering (IPO) of Go Fashion (India) Limited, a company that runs one of India's largest women's bottom-wear brands, was subscribed 2.46 times on Wednesday, the first day of bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.25 times while Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.44 times and 12.14 times, respectively. The issue will close on Monday, November 22, 2021, as the market will remain closed on Friday for Gurunanak Jayanti. The price band for the initial public offering (IPO) is fixed at Rs 655-690 per share. Retail investors can bid for a lot of 21 equity shares and in multiples thereof. The IPO is expected to fetch Rs 1,014 crore at the upper price band. The public issue comprises a fresh issue of shares worth up to Rs 125 crore, and an offer for sale (OFS) of more than 1.28 crore equity shares worth Rs 889 crore by promoters and investors.

Vedanta: Billionaire Anil Agarwal-led Vedanta Limited on Wednesday unveiled a plan for a complete overhaul of the business. The company is planning to demerge and list its aluminium, iron and steel, and oil and gas businesses as standalone entities. The company's board had also constituted a committee of directors to evaluate and recommend options to restructure the group. All options and alternatives like demerger, a spin-off(s), the strategic partnership will be considered for value unlocking and easing of corporate structure. The Board has also appointed various advisors to assist the Board in evaluating the options. It is anticipated that the Board and the Advisors will complete their assessment as soon as possible. Besides, the exchange has sought clarification from the company with respect to a news article titled "Cairn partners Halliburton to increase recoverable oil reserve, explore shale". 

Footwear Stocks: Commerce and Industry Minister Piyush Goyal has said that India is seeking duty-free market access for its leather goods in countries, including UAE, UK and Australia, with which it is negotiating Free Trade Agreements (FTAs). He also said that a similar agreement will be launched with the GCC (Gulf Cooperation Council) sometime in January or February next year. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE are part of the GCC.

BHEL: Bharat Heavy Electricals Limited (BHEL) has signed a Cooperation Agreement with Zorya Mashproekt, Ukraine at New Delhi on November 16, 2021. The Cooperation Agreement aims to cooperate for establishing the local manufacture of the Marine GTs and RGs for the requirement of the Indian Navy. In addition to the above, the cooperation agreement also aims to cooperate for supporting the Indian Navy in the Maintenance & Repair of Marine GTs and RGs of Zorya Mashproekt make in their fleet. Besides, Dr. Mahendra Nath Pandey (Hon'ble Union Minister of Heavy Industries) has inaugurated the prototype Air Pollution Control Tower (APCT), which has been designed indigenously designed and developed by the company. 

Kalpataru Power and Transmission: ICICI Prudential Mutual Fund bought 0.19% stakes in the company on November 16, 2021. With this, ICICI Prudential's stake in the company has gone up to 5.1878%. 

The Phoenix Mills: CPP Investments (Canada Pension Plan Investment Board) has completed the first tranche of investment in Plutocrat Commercial Real Estate Private (PCREPL) through secondary acquisition by private placement. It has invested Rs 787 crores in the first tranche. CPP Investments and PCREPL entered into a securities subscription and purchase agreement on November 15, 2021. Under the agreement, CPP Investments will invest a total of Rs 1,350 crores in multiple tranches through primary and secondary investments.

Zomato: The food delivery and restaurant platform, reportedly, has plans to invest $500 million in Grofers. Besides, Zomato UK Limited ("ZUL''), a step-down subsidiary of the Company has been dissolved effective from November 16, 2021. The company had announced this on September 1, 2021, itself.

Tata Motors: Tata Motors is looking to establish vehicle scrappage centres under a franchise set up with the first one expected to become operational in the first quarter of the next fiscal.