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Thursday, March 4, 2021

Stocks in the news: Vodafone Idea, AstraZeneca, GIC Re, Power Grid and Bharat Dynamics

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Nifty futures on the Singapore Exchange traded 41.5 points, or 0.37 per cent lower at 11,271.50, in signs that Dalal Street was headed for a negative start on Wednesday. Here are a few stocks which may buzz the most in today’s trade:

AstraZeneca: Late-stage studies of AstraZeneca’s COVID-19 vaccine candidate are on temporary hold while the company investigates whether a patient suffered a serious side effect or if the illness had nothing to do with the shot.

IRCTC: The government plans to sell about 15-20 per cent stake in IRCTC via offer for sale (OFS) and would like to complete the transaction in a minimum number of tranches.

HDFC Bank: Number of customers preferring to buy high-value products through instalments stood at an “all-time high” during the coronavirus pandemic, the country’s largest private sector lender HDFC Bank NSE 0.18 % said on Tuesday.


Bharat Dynamics:
The over Rs 900-crore Offer for Sale (OFS) of government shares in defence firm Bharat Dynamics got off to a smooth start with the portion reserved for institutional investors oversubscribed 1.40 times. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece.

MCX: The Multi-Commodity Exchange of India (MCX) on Tuesday said it has witnessed a record-breaking 12-year high in silver delivery. A total of 139.96 tonnes of silver has been delivered via SilverA (30 kg) September contract along with Silver Mini (5 kg) and Silver Micro (1 kg) August contracts on MCX, the exchange said in a statemen

Reliance Industries: Reliance Retail has been advertising four times more since July to August this year compared to the same duration last year increasing its visibility amongst consumers as it takes control of one-third of India’s organised retail market and competes with ecommerce majors.

Indiabulls Ventures, Eveready Industries: These companies are scheduled to announce their June quarter earnings on Wednesday.

GIC Re: State-owned reinsurer GIC Re reported a net loss of Rs 557.47 crore for the quarter ended June 2020. The company had posted a net profit of Rs 108.60 crore in the corresponding period of the previous financial year.

Vodafone Idea: Vodafone Idea managing director and chief executive officer Ravinder Takkar will not be given any remuneration during his current tenure of three years, according to a proposal by the company.

Spencer’s Retail: Spencer’s Retail Ltd on Monday reported a 27 per cent fall in standalone revenue from operations at Rs 439 crore for the first quarter ended June 30 as compared to the same period last year, while it posted a net loss of Rs 47 crore as compared to a net profit of Rs one crore in the year ago period.

Nalco: State-run Nalco is in the process of increasing its wind power generation capacity to 223.90 mw by adding another project in Tamil Nadu at a capital expenditure of Rs 163 crore.

Tejas Networks: Mayfield XII Mauritius FDI sold a total of 53,67,733 shares of Tejas Networks over two deals on BSE and NSE. At the end of June, it held 7.7 per cent stake in the company.

Future Consumer: Enam Finance sold 1,00,00,000 shares of Future Consumer at Rs 10.13 per share.

Strides Pharma Science: Societe Generale bought 6,26,279 shares of Strides Pharma Science from Brookdale Mauritius International at Rs 612 per share. The latter held 1.55 per cent stake in the company at the end of June.

Power Grid Corporation: The Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved asset monetisation of subsidiaries of Power Grid Corporation of India Ltd (PGCIL) through infrastructure investment trust which would help the firm garner Rs 7,000 crore in the first lot.

Future Supply Chain Solutions: Edelweiss Crossover Opportunities Fund and Dhunsuri Ventures sold 4,21,609 shares and 2,27,744 shares of Future Supply Chain Solutions. Edelweiss Crossover Opportunities Fund held 4.25 per cent stake in the company at the end of June.

Teamlease Services: Teamlease said on Tuesday it has acquired an additional 36.17 per cent stake in Schoolguru, taking its total stake in the company to 76.37 per cent stake.

Jubilant Life Sciences: Promoter group Jubilant Enpro sold a total of 7,15,000 shares of Jubilant Life Sciences at Rs 780 per share to co-promoters HSB Corporate Consultants, Jubilant Stock Holding, and SSB Consultants Management Services at the same price. The four entities held 1.78 per cent, 12.10 per cent, 13.41 per cent and 13.55 per cent respectively.

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