Escorts, Vedanta to Go Fashion IPO – here are the best buzzing stocks today

The stock benchmarks were extended lower and were trading with a drop of over 0.80% in midday trades on Thursday November 18, 2021. At 12:46 p.m., the S&P BSE Sensex was trading 498.93 points , or 0.83% less at 59,509.40. The Nifty 50 index traded at 164.35 points, down 0.92% to 17,734.30. Meanwhile, some stocks were moving back and forth based on the reports attached to them. Here is a list of some of these stocks:

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Actions in the news

Escorts: Up 7.92%. Escorts hit a 52-week high of Rs 1,793.90 on November 18 after the company’s board of directors approved a new stake acquisition by Kubota Corporation. The escort board approved the increase in stake in the company by Kubota Corporation. The board of directors of the company, at its meeting held on November 18, approved the raising of equity capital amounting to Rs 1,872 crore through a preferential issue of 93,637,226 shares with a par value of Rs 10 to Rs 2,000 per share (including a premium of Rs 1,990 for each share share), to Kubota Corporation, Japan. This news related to the board meeting has been reported exclusively by Zee Business in the recent past.

Hindustan zinc: Down 0.75%. The Supreme Court on Thursday ordered the registration of an ordinary case by the CBI over alleged irregularities in the divestment of the government’s majority share in Hindustan Zinc Limited (HZL) in 2002. The highest court, however, authorized the disinvestment of residuals from the Center 29.5 per cent on the open market.

Vedanta: Down 7.94%. Billionaire Anil Agarwal, led by Vedanta Limited, on Wednesday unveiled a plan for a complete corporate overhaul. The company plans to separate and list its aluminum, iron and steel, and oil and gas businesses as stand-alone entities. The board of directors of the company had also formed a board of directors to assess and recommend options to restructure the group. All the options and alternatives such as the split, one or more spin-offs, the strategic partnership will be considered for the unlocking of the value and the relaxation of the structure of the company. The board has also appointed various advisers to help the board assess options. It is expected that the board of directors and advisers will complete their assessment as soon as possible. In addition, the exchange requested clarification from the company regarding a news article titled “Cairn partners Halliburton to increase recoverable oil reserve, explore shale”.

BHEL: 1.41% decrease Bharat Heavy Electricals Limited (BHEL) signed a cooperation agreement with Zorya Mashproekt, Ukraine in New Delhi on November 16, 2021. The cooperation agreement aims to cooperate to establish local manufacturing of Marine GT and RG for the requirement of Indian Navy. In addition to the above, the cooperation agreement also aims to cooperate to support the Indian Navy in the maintenance and repair of Zorya Mashproekt marine GTs and RGs in their fleet. In addition, Dr Mahendra Nath Pandey (Honorable Union Minister of Heavy Industries) inaugurated the Air Pollution Control Tower (APCT) prototype, which was locally designed and developed by the company.
Kalpataru power and transmission: down 1.31%. ICICI Prudential Mutual Fund purchased 0.19% of the shares of the company on November 16, 2021. As a result, ICICI Prudential’s stake in the company increased to 5.1878%.

Tata Engines: Down 4.23%. Tata Motors is seeking to establish vehicle scrapping centers as part of an established franchise, the first to become operational in the first quarter of next fiscal year.

Buzzing scholarships

Indian Shipping Company (SCI): 6.33%.
GNP: Up 2.71%
Repco reception: Up 1.48%. Aavas Financiers SA: Up to 1%.
Blue Star: Up 1.97%.
Amber companies: Up 1.66%.
Voltas: Up 1.04%.
Radico Khaitan: Up 1.54%.
CL educate: Up 4.96%
Golden tobacco: Up to 5%.
Construction of Karda: Up 2.30%.
Mcdowell Holdings: Up to 5%.
Devyani International: Down 4.28%.
Nation of barbecue: Down 5.00%
Mirza International: Up 1.10%.
Birlasoft: Up 1.41%.

Decline in shares

Pharmaceutical actions: Falling, the Nifty Pharma index trading at a loss of 1.55%. Stocks like Aurobindo Pharma – down 4.16%; Glenmark – down 2.96%; Gland Pharma – down 2.53%; Laboratory Ipca – 2.41%; Laurus Labs – down 1.38%; Biocon – down 2.50%; Torrent Pharmaceuticals – down 1.04%; Lupine – down 1.19% and Dr Reddy’s – down 2.12%, among others, were trading in negative territory.

PSU bank shares: Falling, the Nifty PSU Bank index trading at a loss of 0.33%. Stocks like Indian Bank – down 2%; J&K Bank – down 1.79%; Central Bank – down 1.40%; Union Bank – down 1.37% and Bank of Baroda – down 1.28%; were trading in negative territory.

Private banks: Down with the Nifty Private Bank index trading at 74% loss. Stocks like RBL Bank – down 1.81%; Kotak Mahindra Bank – down 1.94%; IndusInd Bank – down 1.06%; Federal Bank – down 1.80%; Bank Bandhan – down 1.96%; IDFC First Bank – down 1.21 and Axis Bank – down 1.03% were trading in negative territory.

Oil and Gas Inventories: Falling, with the Nifty Oil & Gas index trading at a loss of 1.08%. Stocks like GSPL – down 2.71%; MGL – down 3.50%; OIL – down 3.18%; Gujarat Gas – Down 3.05%; GSPL – down 2.71%; GAIL – down 2.52%; IGL – down 1.72%; ONGC – down 2.22% and BPCL – down 1.56% among others traded in negative territory.

Automotive stocks: Down with the Nifty Auto index which is trading at a loss of 2.74%. Stocks like Bosch – down 5.19%; Tata Motors – down 4.23%; Ashok Leyland – down 4.01%; Bahrat Forge – down 2.44%; Eicher Motors – down 2.98%; Hero MotoCorp – down 2.74%; M&M – down 2.93%; Amara Raja Batteries – down 2.39%; TVS Motor – down 1.855%; Maruti – down 2.40% and Bajaj Auto – down 1.14% were trading in negative territory.

Sustainable consumer stocks: Falling, the Nifty Consumer Durables index trading at a loss of 1.13%. Stocks like Rajesh Exports – down 3.28%; Orient Electric – down 1.10%; Crompton – down 1.79%; Dixon Technologies – down 0.98%; Havells – down 1.66%; Titan – down 1.36%; Bata India – down 1.26% and Kajaria Ceramics – down 1.41% were trading in negative territory.
Real estate stocks: down with the Nifty Realty index which is trading at a loss of 1.85%. Stocks like Indiabulls Real Estate – down 3.74%; Macrotech Developers – Down 4.29%; Brigade Enterprises – down 3.58%; Oberoi Realty – down 3.82%; DLF – down 2.54%; Prestige Estate – down 1.17% and Sunteck Realty – down 1.45% were trading in negative territory.

IT actions: Down with the Nifty IT index which is trading at a loss of 1.84%. Stocks like LTI – down 3.26%; Coforge – down 4.10%; HCL Technologies – down 2.57%; Tech Mahindra – down 2.40%; LTTS – down 1.15%; Wipro – down 1.78%; Mpasis – down 1.64%; TCS – down 1.35% and Infosys – down 1.54% were trading in negative territory.
Metals inventories: declining with the Nifty Metal index trading at a loss of 2%. Stocks like Vedanta – down 7.94%; Welspun Corp – down 3.17%; SAIL – down 2.20%; Tata Steel – down 2.30%; Hindustan Copper – down 1.61%; National Aluminum – down 1.37%; Jindal Steel – down 1.70%; and Adani Enterprises – down 1.43% were trading in negative territory.

FMCG actions: Falling, the Nifty FMCG index trading at 0.74% loss. Stocks like Marico – down 2.22%; UBL – down 1.73%; Tata Consumers – down 1.08%; Britannia – down 1.12%; and ITC – down 0.98% traded in negative territory.

IPO announcements and updates

List of Paytm IPOs: Shares of One 97 Communications Limited, the parent company of India’s leading digital financial services company, Paytm, made a weak start on the exchanges, NSE & BSE, today. It opened at Rs 1,950 per share at NSE with a 9.3% discount from the issue price of Rs 2,150 per share. At ESB, it opened at Rs 1955 per share, a discount of 9.06% from the listing price. Paytm’s initial public offering (IPO) was subscribed 1.89 times on Wednesday, the third and final day of the auction. The Qualified Institutional Buyers (QIB) portion of the public issue was subscribed 2.79 times, while the Non Institutional Investors (NII) and Individual Investors (RII) portions were subscribed 0.24 times and 1.66 times, respectively. The company set the price range at Rs 2,080-2,150 per share for the offering, as it planned to raise around Rs 18,300 crore from the issue.

Sapphire Foods Stock Exchange Listing: Shares of Sapphire Foods India, a franchise operator of KFC and Pizza Hut restaurants, made a strong debut on the NSE and BSE exchanges today. It opened at Rs 1,350 per share at NSE with a 14.4% premium to issue a price of Rs 1,180 per share. At ESB, it opened at Rs 1,311 per share with an 11.10% premium over the listing price. Sapphire Foods India Limited’s initial public offering (IPO) was subscribed 6.62 times on Thursday, the third and final day of the tender. The Qualified Institutional Buyer (QIB) portion was underwritten 7.50 times, while Non-Institutional Investors (NII) and Individual Retail Investors (RII) were underwritten 3.46 times and 8.70 times, respectively. Sapphire Foods had set the price range for the issue at Rs 1,120-1,180 per share, as it planned to increase to Rs 2,073.25 crore through the issue.

Go Fashion Limited IPO (India): The initial public offering (IPO) of Go Fashion (India) Limited, a company that operates one of India’s largest brands of women’s hosiery, was underwritten 3.63 times at 12:29 p.m. Thursday, the second day of the auction. The Qualified Institutional Buyer (QIB) portion was subscribed 0.27 times while the Non-Institutional Investor (NII) and Individual Retail Investor (RII) portion was subscribed 1.21 times and 17.33 times, respectively . The show will close on Monday, November 22, 2021, with the market remaining closed on Friday for Gurunanak Jayanti. The price range for the initial public offering (IPO) is set at Rs 655-690 per share. Retail investors can bid on a lot of 21 shares and in multiples thereof. The IPO is expected to bring in Rs 1,014 crore in the upper price bracket. The public offering includes a new issue of shares valued up to Rs 125 crore and an offer to sell (OFS) of over 1.28 crore of shares valued at Rs 889 crore by the developers and investors.

(Disclaimer: The views / suggestions / advice expressed here in this article are solely by investment experts. Zee Business suggests that its readers consult their investment advisers before making a financial decision.)

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