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NEW DELHI: S&P BSE SmallCap index was trading on a positive note at 02:50PM (IST) on Monday. Shares of BEML (up 20.0 per cent), Saregama India (up 20.0 per cent), Subex (up 19.97 per cent), MEP (up 19.89 per cent) and Universal Cables (up 17.41 per cent) were among the top gainers. While MJCO (down 4.99 per cent), Gabriel India (down 4.95 per cent), Dewan Housing Finance Corporation (down 4.84 per cent), Indiabulls Real Estate (down 4.17 per cent) and Brightcom Group (down 3.98 per cent) were the top losers in the index. The S&P BSE SmallCap index was trading 1.0 per cent up at 21144.45 around 02:50PM.
Here are the top stocks that are likely to be in focus today:
Affle India: The company at its board meeting approved the fundraising of upto Rs 1,080 crore.
IOC: Indian Oil Corporation (IOC) will invest Rs 32,946 crore to expand Panipat refinery capacity to 25 million tonne per year from 15 million tonne per year earlier.
Auto stocks: Auto sales figures would start trickling in from March 1 onwards. Car and tractor makers are likely to report a strong set of auto sales numbers for the month of February, but growth in two-wheeler sales may not be as strong, according to analysts. Stock-specific action is expected in the auto companies on the back of these numbers.
Synopsis
The government is aggressively going ahead with privatisation of state-run companies such as Bharat Petroleum Corporation Limited, Container Corporation of India, Shipping Corporation of India and Air India.
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The government will disinvest 26% equity share capital of Bangalore-based public sector enterprise Bharat Earth Movers Limited (BEML) out of its shareholding of 54.03% along with management control.
The department of investment and public asset management (DIPAM) has set the minimum net worth requirement for bidders at Rs 1400 crore, and has kept the last date for submitting bids at March 1, 2021. Disinvestment will be through a two stage competitive bidding process, the department said in the preliminary information memorandum issued on Sunday.
Read more about Stocks to watch: Cadila Health, NIIT, BEML, Dish TV, RIL, DLF, Coal India on Business Standard. The board of NIIT has approved buyback of 98.75 lakh equity shares of face value of Rs 2 each.
Shares of state-owned hotel company India Tourism Development Corporation (ITDC) and defence firm BEML rallied up to 17 per cent on the BSE in Thursday s session on the back of heavy volumes following a report that the government could invite expression of interest (EoI) for divestment in these public sector companies. Over the next few weeks, the department of investment and public asset management (DIPAM) will finalise the process of strategic sale of several public sector undertakings (PSUs) including BEML, India Tourism Development Corporation (ITDC) and Central Electricity Corporation,
Moneycontrol reported quoting sources. Among individual stocks, ITDC rallied 17 per cent to its 52-week high of Rs 354 on the BSE. Trading volumes on the counter jumped seven-fold with a combined 2.6 million equity shares changing hands on the NSE and BSE till the time of writing of this report.