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Nifty futures on the Singapore Exchange traded 38 points, or 0.25 per cent, higher at 14,988 in signs that Dalal Street was headed for a positive start on Tuesday. Here are a few stocks which may buzz the most in today s trade:
Tata Communications: The government said it will sell up to 16.12 per cent stake in
Tata Communications through an Offer for Sale starting on Tuesday at the floor price of Rs 1,161 per equity share. As part of its exit plan from Tata Communications, the government is initially offering to sell up to 2.85 crore equity shares representing up to 10 per cent of the total paid up equity share capital of the company.
Adani Ports and Special Economic Zone (APSEZ) received a Letter of Intent (LOI) from the Ministry of Ports and Shipping of Sri Lanka and the Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, pursuant to approval from the Sri Lankan Cabinet of Ministers for the development and operations of West Container Terminal (WCT) in Colombo, Sri Lanka.
The offer for sale (OFS) of the Government of India s (GoI) equity in Tata Communications would open on March 16. The central government would divest 10% shares in the company along with an additional 6.12% as Green Shoe Option.
AU Small Finance Bank said that the Capital Raising Committee of Board of Directors of the bank approved allotment of 50,00,000 equity shares at the issue price of Rs 1251 per equity share, aggregating to Rs. 625.50 crore pursuant to the QIP issue.
The benchmark indices ended a volatile session on a flat note on Tuesday. The Nifty managed to close above the 14,900 mark after slipping below that level in intraday. IT and FMCG stocks were in demand.
As per the provisional closing data, the S&P BSE Sensex, fell 31.12 points or 0.06% at 50,363. The Nifty 50 index declined 19 points or 0.13% at 14,910.70.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index added 0.4%. The S&P BSE Small-Cap index rose 0.32%.
The market breadth was almost even. On the BSE, 1,476 shares rose and 1,484 shares fell. A total of 178 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,101.35 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 749.71 crore in the Indian equity market on 15 March 2021, provisional data showed.
HFCL rose 1.79% to Rs 28.40 after the company said it plans to acquire upto 50% stake in Nimpaa Telecommunications by subscribing its equity shares in one or more tranches.
HFCL will pay a cash consideration of Rs 1 crore for acquiring 50% of the diluted paid-up equity share capital of Nimpaa Telecommunications (Nimpaa). The acquisition will be completed by April 2021.
Nimpaa is a newly incorporated company and no financials have been prepared. It was incorporated to carry on the business of manufacturing all types of equipment, components, accessories and cables required for telecommunication systems, networks and services.
HFCL is acquiring stake in Nimpaa, keeping in line with thrust on addition of new telecom network products in the field of communications, specifically Aramid Reinforced Plastic (ARP) rods. ARP rods shall be manufactured and supplied by Nimpaa for HFCL, its subsidiaries and associate companies captive consumption.
Read more about Barometers sharply pare gains; Nifty holds 14,900 on Business Standard. The benchmark indices sharply pared gains in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 59.92 points or 0.12% at 50,455. The Nifty 50 index gained 4.20 points or 0.03% at 14,933.70.