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Stocks in Focus on March 31: At the stock markets, the S&P BSE Sensex shot up 1,128 points, or 2.3 per cent, to close at 50,137, on Tuesday, March 30, 2021. The Nifty 50 spurted 338 points, or 2.3 per cent, to 14,845. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, March 31, 2021. List of such five stocks:
IDFC First QIP + Insecticides Buyback
IDFC First Bank: Private sector IDFC First Bank on Tuesday said it has fixed the floor price at Rs 60.34 for the Rs 3,000 crore qualified institutional placement (QIP) issue. Further, it said, a meeting of the Capital Raising Committee of the bank will be held on April 6, 2021, to consider and determine the issue price of shares to the institutional investor including a discount, if any.
Insecticides India: Board on Tuesday approved the buyback of the fully paid-up equity shares of the face value of Rs 10 each (‘Equity Shares’) of the Company via the ‘open market’ route through the stock exchange mechanism for an aggregate amount not exceeding Rs 60 Crore and at a price not exceeding Rs 575/- per equity share. Maximum Buyback Size, the indicative maximum number of Equity Shares bought back would be 10,43,478 which is 5.05% of the total number of paid-up Equity Shares of the Company.
UltraTech Cement: The company has prepaid its long-term loans amounting to Rs 5,000 crore. The loan repayments have been done through free cash flows generated over the last few quarters.
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SJVN + NHPC
SJVN Ltd: SJVN Limited has been awarded a 70 MW grid-connected Solar Power Project in the state of Gujarat. In terms of the LOA dated March 26, 2021, issued by Gujarat Urja Vikas Nigam Limited (GUVNL), SJVN will develop a 70 MW Solar Power Project including the arrangement of land with long term connectivity with Grid. The tariff of the electricity supplied will be Rs. 2.21 / KWh and power generated from this project will be procured by GUVNL for 25 years. These projects will support SJVN in achieving its ambitious shared vision of electricity generation of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040 and simultaneously contribute towards the RE capacity addition target of 175 GW by 2022 set by the Government of India.
NHPC: Government has approved an investment of Rs 938.29 crore for the acquisition of M/s Jalpower Corporation Limited (JPCL) and construction of balance works of 120 MW Rangit-IV HE Project, located on river Rangit in West Sikkim district of Sikkim, by NHPC Limited.
IRB Infrastructure Developers: The company on Tuesday said that it has won two highway projects in West Bengal and Himachal Pradesh. It has received a BOT project worth Rs 2,320 crore in West Bengal and a HAM project worth Rs 760 crore in Himachal Pradesh.
Lupin LIC + Bulk Deals
Lupin: LIC has bought 1.48 lakh shares (0.33% equity shares) in Lupin. With this, LIC’s stakes in Lupin has increased from 4.9% to 5.03%.
Bulk Deals
Lux Industries: Monet Securities sold 2.87 lakh shares (1.14%) at Rs 1,770.01 per share.
Welspun Enterprises: Promoter Welspun Group Master Trust bought 41 lakh shares (2.75%) at Rs 120.48 per share.
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