Domestic equity barometers ended near the day’s low on Thursday, November 19, 2020, dragged by banks and financial stocks. The S&P BSE Sensex tumbled 580.09 points or 1.31% to 43,599.96. The Nifty 50 index slumped 166.55 points or 1.29% at 12,771.70. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, November 20, 2020. List of such five stocks:
Gland Pharma: The shares of Gland Pharma will be listed on the bourses today. The Rs 6,480 crore IPO of the Hyderabad-based Gland Pharma was subscribed 2.06 times on the last day of subscription. The price band for the offer was fixed at Rs 1,490-1,500 per share. The issue price has been fixed at Rs 1,500 per share. The company has raised Rs 1,944 crore from the anchor investors.
Vodafone Idea/ Bharti Infratel/ Bharti Airtel: The merger process of Bharti Infratel and Indus Towers to create a mega tower company has been completed. And, Vodafone Idea has received Rs 3,760.1 crore cash for its 11.15% holding in Indus. Vodafone Group will hold 28.12% stake in the merged entity, while the holding of Airtel Group will be reduced from 53.51% to 36.73%. Bimal Dayal has been named as the CEO of the merged entity, which will be renamed as ‘Indus Towers Limited’.
Cipla/Dr Reddy’s/ Zydus Cadila: Shares of these companies will be in focus today as a panel of the World Health Organization has advised doctors against using Gilead Sciences’ antiviral drug remdesivir as a treatment for patients hospitalized with Covid-19. It said, there is currently no evidence that it improves survival or shortens recovery time. USFDA has formally approved this drug for emergency use.
L&T/GMR/ Welspun Group in Focus: These three companies, L&T Infrastructure Development Projects, GMR and Welspun, have made to the second round of selection for attracting private investment to run passenger train services. They were found eligible to participate in the Request for Proposal (RFP) stage for operating private passenger train services. Out of 120 applications from 16 firms at the Request for Qualification (RFQ) stage, 102 applications were found eligible for the RFP stage. The railways invited bids from private firms to operate passenger train services over 12 clusters comprising for more than 150 origin-destination pair of routes through the introduction of 151 modern Trains.
NMDC: Union Steel Minister Dharmendra Pradhan on Thursday said there were supply constraints of iron ore for the steel sector. He added the Centre will “look into” suggestions to ban the export of the key raw material. Representatives of the sector have been seeking a ban on iron-ore exports to aid the domestic industry and had earlier sought the minister’s intervention to tide over the crisis.