Stocks in Focus on September 17: Domestic share markets ended with strong gains on Wednesday, September 16, 2020, tracking positive global cues ahead of the US Federal Reserve’s policy outcome. The S&P BSE climbed 258.50 points, or 0.66 per cent, to close at 39,302.85. The Nifty at National Stock Exchange also rose 82.75 points, or 0.72 per cent, to settle at 11,604.55. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, September 17, 2020. List of such five stocks:
Triggers: Certain events, like Weekly Expiry, Defence Minister, Dhanuka Agritech, Minister, RBI, Hexaware, Deepak Fertilizers, Punjab Alkalies and Chemicals, BOE & BOJ, Happiest Minds Technologies, EGM and AGM, can create positive/negative reactions in the share market when it opens today. Find them in detail:
Weekly Expiry: The weekly index options will expire on Nifty and Bank Nifty, today.
Defence Minister: Defence Minister Rajnath Singh will make a statement on the on-going border stand-off with China in the Rajya Sabha today at around 12o clock.
RBI: The Reserve Bank of India (RBI) will conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for Rs 10,000 crore each today.
Hexaware: Today is the last date for changes or announcement of the counter offer for delisting. The company has fixed a floor price of Rs 264.97 per equity share for the delisting offer which closed on Wednesday, September 16, 2020.
Punjab Alkalies and Chemicals: The open offer to acquire 92 lakh shares, representing 33% stakes, of the company will open today i.e. on September 17, 2020. The offer will close on September 30, 2020. The target price for the open offer has been fixed at Rs 45 per share.
Deepak Fertilizers: Record Date for Rights Issue. The issue price has been fixed at Rs 133 per share carrying a face value of Rs 10 each. The eligible shareholders will be entitled to apply for three shares for every 20 equity shares held by them as on the record date. The company seeks to raise Rs 180 crore through the issue.
OPEC: Committee meeting to be held today.
BOE & BOJ: The Bank of Japan (BOJ) and the Bank of England (BOE) will announce their respective policy decisions on Thursday.
AGM: Annual General Meeting of companies, like Ipca Laboratories Ltd, Supreme Industries Ltd, Suven Life, Igarshi Motors and Uflex Ltd, are scheduled to be held today.
Extraordinary General Meeting (EGM): Jindal Stainless Ltd.
Happiest Minds Technologies: Happiest Minds shares are likely to get listed on bourses today, i.e. September 17, 2020. The price band for the IPO offer, which opened for subscription on September 7, 2020, was fixed at Rs 166 per equity share. The IPO was subscribed 151 times on the last day of bidding, i.e. September 9, 2020. The company has raised Rs 702 crore via IPO. Category Subscription
Retail Individual Investors: 71 times.
Qualified Institutional Buyers (QIB): 77 times.
Non-Institutional Investors (NII): 351 times.
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Suven Pharmaceuticals: The Board of Directors of the company, on Wednesday, approved and fixed September 28, 2020, as the Record Date for the purpose of determining the eligibility of the shareholders for Bonus Issue (1:1) of Equity Shares of the Company.
Dhanuka Agritech: The buyback committee of the company has approved the buyback of 100 crore equity shares at a price of Rs 1,000 per equity share payable in cash for an aggregate amount not exceeding Rs 100 crore.
ICICI Bank: The private lender has said that it will resume seeking approval from the Reserve Bank of India (RBI) for the appointment of Sandeep Batra as a whole-time director for a period of five years or date of retirement, whichever is earlier, effective from September 17, 2020, or the date of approval from RBI, whichever is later.
Bata India: Bata Properties Limited (BPL) (a wholly-owned subsidiary of Bata India Limited) and Coastal Commercial & Exim Limited (CCEL) (a wholly-owned subsidiary of BPL), have, at their respective Board Meetings, held Wednesday approved the proposed Scheme of Amalgamation between CCEL (Transferor Company) and BPL (Transferee Company). Upon completion of the said amalgamation, CCEL will cease to be a subsidiary of BPL and in turn of the Company.