Hindustan Unilever Ltd., Bajaj Housing Finance Ltd. RBM Infracon Ltd., Mazgaon Dock Shipbuilders Ltd., Bajaj Finserv Ltd. and SpiceJet Ltd. are among the stocks in focus as markets open on Monday.
HUL will conduct a detailed evaluation of prospects of its ice cream business In the backdrop of its parent's intention to hive off the vertical.
Bajaj Group is set to enter the primary after over three decades with the initial public offering of Bajaj Housing Finance Ltd. The housing financier, which plans to raise up to Rs 6,560 crore, will open for subscription on Monday.
The IPO consists of a fresh issue of equity shares worth Rs 3,560 crore and an offer for sale worth Rs 3,000 crore from its owner, Bajaj Finance Ltd. The price band is set at Rs 66–70 apiece.
RBM Infracon Ltd. announced that the company has received a service order worth Rs 3,498 crore from Oil and Natural Gas Corp. on Friday. The order, dated Sept. 6, has a validity period of 15 years or 180 months from the effective date.
Mazagon Dock Shipbuilders Ltd. has received a contract of Rs 1,486.40 crore from Oil and Natural Gas Corp. The contract involves a pipeline replacement project that must be executed on an engineering, procurement, and construction reimbursable basis, according to an exchange filing on Friday.
Bajaj Allianz General Insurance, a joint venture between Bajaj Finserv Ltd. and Allianz SE, reported a gross direct premium underwritten at Rs 1,736.23 crore for June. At the same time, the total new business premium for Bajaj Allianz Life Insurance stood at Rs 952.52 crore.
SpiceJet has entered into a term sheet agreement with Carlyle Aviation Management Ltd. to restructure its aircraft lease obligations. The airline plans to restructure its finances by issuing securities worth $30 million at Rs 100 per share, subject to the approval from the shareholders and the signing of a final agreement between both parties.
Carlyle Aviation will also purchase convertible debentures for $20 million from SpiceXpress and Logistics Pvt. Ltd., a subsidiary of the company, it said. Carlyle is valuing the stake at Rs 100, which is a huge premium to the current market price.
India's benchmark indices extended losses on Friday, recording its worst week in over three months as fears griped over the health of the US economy ahead of the release of jobs data. The selloff was broad-based, with the banking and energy sectors taking the biggest hit.
The NSE Nifty 50 closed 292.95 points or 1.17% lower, at 24,852.15 to extend the fall to the third consecutive session. The S&P BSE Sensex closed 1,017.23 points or 1.24%, down at 81,183.93, its fourth day of decline. Both indices lost nearly Rs 4 lakh crore in value.
Traders are keeping a close watch on key support and resistance levels after Friday's sharp sell-off.
Analysts pegged 24,804-24,735 as a major support zone, warning that a sell-off may deepen if this zone breaks. On the upside, resistance at 25,160-25,296 could see short-covering if breached.
Some analysts state that the next major support is near 24,480.
Other analysts say that the index now holds immediate support in the 24,850-24,750 zone, and it will be crucial for Nifty to stay above 24,500 to attract bullish momentum.
Here Are The Stocks To Watch On Monday
Bajaj Housing Finance: Bajaj Group is set to hit the primary after over three decades with an initial public offering of Bajaj Housing Finance Ltd. The housing financier, which plans to raise up to Rs 6,560 crore, will open for subscription on Monday.
RBM Infracon: The company receives a service order worth Rs 3,498 crore from Oil and Natural Gas Corporation.
Mazagon Dock: The company received notification of the award of a contract worth Rs 1,486 crore from ONGC.
Bajaj Finserv: Bajaj Allianz General Insurance reported a gross direct premium underwritten at Rs 1,736.23 crore for June. At the same time, the total new business premium for Bajaj Allianz Life Insurance stood at Rs 952.52 crore.
SpiceJet: The airline has entered into a term sheet agreement with Carlyle Aviation Management Ltd. to restructure its aircraft lease obligations. The airline plans to restructure its finances by issuing securities worth $30 million at Rs 100 per share, subject to the approval from the shareholders and the signing of a final agreement between both parties. Carlyle Aviation will also purchase convertible debentures for $20 million from SpiceXpress and Logistics Pvt. Ltd., a subsidiary of the company, it said. Carlyle is valuing the stake at Rs 100, which is a huge premium to the current market price.
Nazara Technologies: The company has acquired a 48.42% stake in Paperboat for Rs 300 crore. The company has paid Rs 225 crore as the first tranche. The remaining balance will be paid in the manner outlined in the agreement.
Suzlon Energy: The company has completed the acquisition of 51% of the equity share capital of Renom. With the said acquisition, Renom has now become a subsidiary of the company.
AU Small Finance Bank: The bank announced a strategic partnership to offer AU SFB’s customers a wide range of general insurance solutions. It includes motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper insurance, cyber incident insurance, and more.
Hindustan Unilever: The company’s parent entity, Unilever PLC, had on March 19 announced its intention to separate its global ice cream business across jurisdictions. The board has decided to constitute a committee of independent directors to evaluate in detail the prospects of the company’s ice cream business and to make recommendations to the board. The Board also accorded its approval to explore potential structures and alternatives for the same.
Swelect Energy Systems: The company approved an investment by their wholly-owned subsidiary in Singapore. The goal is to set up Solar Roof Top Power Generating Plants under the Energy Sales model by joining as a 50:50 partner in a new joint venture called AV SW Green Energy Pte Ltd in Singapore. The Board also approved an initial investment of SGD 5,000, with further investment up to SGD 2,000,000 in the joint venture.
Wardwizard Innovations & Mobility: The company has received a Letter of Intent from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a joint venture in the Kingdom of Saudi Arabia. The company plans to set up two plants to assemble electric motorbikes, three-wheelers, four-wheelers, buses, and EV cells in Saudi Arabia.
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