Stocks in Focus on September 24: Domestic equity markets ended with small losses for the fifth day on Wednesday, September 23, 2020. The S&P BSE Sensex fell 65.66 points, or 0.17 per cent, at 37,668.42. The Nifty 50 lost 21.80 points or 0.20 per cent, but managed to hold the 11,000-mark, and closed at 11,131.85. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, September 24, 2020. List of such five stocks:
Triggers: Certain events, like September Series Expiry, Nifty changes, OMO and AGM, can create positive/negative reactions in the share market when it opens today. Find them in detail:
September Series Expiry: The September 2020 F&O contracts will expire today, on September 24, 2020.
Changes in Nifty 50 Index: Divi’s Laboratories and SBI Life Insurance Co will replace Bharti Infratel and Zee Entertainment Enterprises in the Nifty50 index from September 25.
RBI OMO: The Reserve Bank of India (RBI) will launch Open Market Operation (OMO) worth Rs 10,000 crore today.
AGM: Annual General Meeting of companies, namely Affle India Ltd, Gujarat Gas Ltd, Gujarat State Petronet Ltd, Lux Industries, Mahanagar Gas Ltd, MRF Ltd, NTPC Ltd, Relaxo Footwears Ltd, SBI Life Insurance Company, TCNS Clothing Co. Ltd, Indoco Remedies Ltd, Indostar Capital Finance Ltd, K P R Mill Ltd, VST Tillers and India Glycols, is scheduled to be held today.
See Zee Business Live TV streaming below:
IPO Update (Angel Broking, CAMS and Chemcon Speciality):
Angel Broking IPO: The Rs 600 crore initial public offering of Angel Broking is subscribed 1.46 times on September 23, the second day of bidding. Today is the last day for bidding. The quota set aside for retail investors was subscribed 2.79 times, while the non-institutional investors (NIIs) quota was subscribed 31%. The price band for the issue has been fixed at Rs 305-306 per share. The issue consists of a fresh issue of Rs 300 crore and an offer for sale (OFS) of Rs 300 crore.
CAMS IPO: Rs 2,244 crore initial public offering of the Computer Age Management Services (CAMS) closed on Wednesday. It was subscribed 47 times on the last day. The quota set aside for qualified institutional buyer (QIB) was subscribed 73 times, while retail investors’ quota was subscribed 5.5 times. The non-institutional investors (NIIs) section was subscribed 122 times. The price band for the issue was fixed at Rs 1,229-1,230 per share.
Chemcon Speciality Chemicals IPO: The Rs 318-crore IPO of Chemcon Speciality Chemicals closed on Wednesday with 149.33 times subscription. The quota set aside for qualified institutional buyer (QIB) was subscribed 113.5 times. The quota set for retail investors was subscribed 41.2 times, while the non-institutional investors (NIIs) quota was subscribed 449 times. The price band for sale was fixed at Rs 338-340 per share.
GMM Pfaulder OFS update: The offer for sale (OFS) of the company was subscribed 78%. The non-retail quota was subscribed 1.02 times, while the retail investors’ portion subscription stood at 66%. It saw a low response from the retail investors’ side.
ONGC: A massive fire has broken out at an Oil and Natural Gas Corporation (ONGC) plant in Surat, Gujarat, in the wee hours of Thursday. This incident occurred due to gas leakage in Mumbai main line.
Infra/Railway stocks in Focus: The National High-Speed Rail Corporation (NHSRCL) on Wednesday opened the bids for the first tender entailing an investment of around Rs 20,000 crore for construction work for the Ahmedabad-Mumbai bullet train project. All bidders in the project are Indian companies. The three bidders involve seven major Indian infrastructure companies of which two are consortiums of Afcons Infrastructure–IRCON International–JMC Projects India and NCC-Tata Project-J Kumar Infra projects. Larsen and Turbo is the third company that has put a bid on its own.