The broader markets outpaced frontline indices last week, as the Nifty Midcap 100 index and Smallcap 100 index gained 0.65 percent and 0.87 percent, respectively.
The BSE Sensex tanked 1,789.77 points, or 3.52 percent, to 49,099.99, and the Nifty corrected 452.60 points, or 3.02 percent, to 14,529.15 during the week. The broader markets, however, did better, as the Nifty midcap 100 index and smallcap 100 index gained 0.65 percent and 0.87 percent respectively.
Eveready Industries | The stock price surged over 32 percent after media reports emerged that the Burman family may become joint promoters of the company along with the Khaitan family. “The Burman family, the single-largest investor in Eveready Industries with a 20 percent stake, may become joint promoters of the battery maker along with the Khaitan family,” reported Mint, quoting sources.
Jet Airways | The stock jumped over 23 percent after Murari Lal Jalan of the Jalan-Kalrock consortium said that the battered airline may fly again by July-August. Almost two years after India’s oldest private airline was grounded, Jet Airways may be able to fly again by July or August of this year, the potential new owner of the airline told CNBC-TV18.
IIFL Finance | The stock was up over 29 percent after the company won the bid to acquire about 1.1 million demat accounts held by Karvy Stock Broking, while Axis Securities emerged as the successful bidder for trading accounts (broking accounts) held by Karvy. The company also raised Rs 100 crore through non-convertible debentures (NCDs) on a private placement basis. It said NCDs would be listed on the National Stock Exchange (NSE).
Dredging Corporation | The stock jumped over 29 percent. The company announced that it has signed a memorandum of understanding (MoU) with Cochin Shipyard for the construction of a trailing suction hopper dredger. The company added that it signed 18 MoUs of Rs 14,000 crore with ports, ship-builders, ship repair complex, research organisations and maritime states.
Dilip Buildcon | The share price gained 16 percent last week. The company was declared as L-1 bidder for two National Highways Authority of India hybrid-annuity model (HAM) projects under the Bharatmala Pariyojana, Phase I in Tamil Nadu and Union Territory of Puducherry of orders worth Rs 2,241 crore, the company said in an exchange filing. Dilip Buildcon was also declared as L-l bidder for two new HAM projects—Bangalore-Chennai Expressway under Bharatmala Pariyoina in Karnataka, Phase -l worth Rs 2,439 crore, the company said.
Coal India | The stock price was up over 9 percent after the company said a meeting of the Board of Directors would be held on March 5, 2021 to consider and approve the payment of a second interim dividend for 2020-2021, if any. It has fixed March 16, 2021, as the ‘record date” for the purpose of payment of the second interim dividend on equity shares for the financial year 2020-2021.
RAIN Industries | The share price added 16 percent after the company’s net profit surged 167.47 percent to Rs 306.95 crore in the quarter ended December 2020 as against Rs 114.76 crore in the year-ago period. However, sales declined 6.72 percent to Rs 2640.23 crore in the quarter ended December 2020 as against Rs 2,830.42 crore during the corresponding period in 2019.
Shriram Transport Finance | The stock price was down over 8 percent last week. The company said that it will consider raising funds by issuing redeemable nonconvertible debt securities in onshore/offshore market by private placement basis and/or public issue subject to market conditions and in this regard, the meeting of the banking and finance committee, debt issuance committee, bond issuance committee, allotment committee-NCDs would be held to consider and approve the issue and allotment of NCDs debt securities during the month ending March 31, 2021, as per their respective terms of reference, subject to such terms and conditions including the issue price of debt securities, as the said committees may deem fit, it said in an exchange filing.
REC | The stock shed 7 percent in the week gone by. The state-run company said it has raised $ 500 million by issuing notes (bonds) under its $ 7 billion Global Medium Term Note Programme which would be used to finance the power sector. “REC Limited has priced $ 500,000,000, 2.25 percent Notes due 2026, on February 22, 2021 under its $ 7 billion Global Medium Term Note Programme…. The notes will mature on September 1, 2026 and all principal and interest payments will be made in US dollars. The settlement date for the notes is expected to be March 1, 2021,” it said in a BSE filing.
PVR | The share price was down over 7 percent as rising COVID-19 cases and the continuous threat from the rapid growth of over the top platforms raised concerns over the pace of business recovery.
Sandip Das
