The bullish momentum for the stock markets will continue on Thursday too, as the global cues and Asian markets indicate positive beginning. The SGX Nifty, which is currently ruling at 14,705, is pointing a gap-up of opening of about 50 points for Nifty50. The January futures of Nifty50 closed on Wednesday at 14,645.
All eyes are on the BSE Sensex, as it is tantalising close to 50,000 historical mark.
Overnight, the Dow Jones Industrial Average rose 257.86 points, or 0.83 per cent, to 31,188.38, the S&P 500 gained 52.94 points, or 1.39 per cent, to 3,851.85 and the Nasdaq Composite added 260.07 points, or 1.97 per cent, to 13,457.25.
Benchmarks of Japan, Nikkei, Taiwan, Korea, Jakarta, China and Australia are ruling firm in early trade on Thursday.
Reliance, Future group : Securities and Exchange Board of India late Wednesday granted approval to the deal between Kishore Biyani-led Future Group and Reliance Retail, part of the Mukesh Ambani-led Reliance Industries, with certain riders. In August 2020, Biyani had entered into a Rs 24,713 crore agreement with Reliance Retail. As part of the pact, Future Group was to sell its retail, wholesale, logistics and warehouse businesses to Reliance Retail Retail Ventures (RRVL). However, Amazon had raised objection to the deal. SEBI, in its letter of approval, listed a number of conditions (including locked-in of shares) in accordance to the Composite Scheme of Arrangement.
Aditya Birla Fashion and Retail Limited has received the Competition Commission of India’s approval for issuance of equity shares on a preferential basis to Flipkart .for an amount aggregating up to Rs 1,500 crore. CCI has accorded its approval to Flipkart for its proposed acquisition of 7.8 per cent equity stake in the company on a fully diluted basis. The completion of the Preferential Issue remains conditional upon the fulfilment of the said customary conditions.
Housing Development Finance Corporation Ltd has entered into a share purchase agreement for sale of 47,75,241 equity shares of Re. 1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host. The aggregate sale consideration for the Sale Shares is Rs. 232.81 crore which is subject to various customary adjustments as agreed between the parties, and the final sale consideration shall be calculated accordingly. Good Host is is principally engaged in providing hostel services, guest house services, service apartments and leasing of property for hostel services.
Sandur Manganese & Iron Ores , which had earlier announced about Bhoomi Puja and Foundation Stone Laying Ceremony for Phase I of 1 MTPA Iron and Steel Project entailing setting up 0.4 MTPA Coke Oven Plant, Waste Heat Recovery Boilers and 0.4 MTPA Pig Iron Blast Furnace at Vysanakere, Hosapete on March 19, 2018, has commenced commercial operations. Trials from Batteries 1 & 2 of the Coke Oven Plant commenced in January 2020, new 24 MVA Ferro Alloy furnace in February 2020, Batteries 3 & 4 of Coke Oven Plant from November 2020 and refurbished 20 MVA Ferro Alloy Furnace from January 18, 2021. Accordingly, the Lenders' engineers have completed its visit to the Plant on Wednesday and are expected to issue a certificate to the Bankers regarding completion of the Project and declaration of the commercial operations from January 18, it said in a notice to the stock exchanges. Performance guarantee tests will be taken up in due course of time, it furtner added.
Result Calendar: Aavas Financier, Apollo Tricoat, Asian Paints, Bajaj Auto, Bajaj Holdings, Bandhan Bank, Biocon, Bliss GVS, Cyient, D&H India, Genus Power, Himalya Food, IEX, Indo Count, ISL, JBF Industries, Jindal Steel, JK Tyre, Kabra Extrusion, Kajaria Ceramics, Kirloskar Pneumatics MCX, MphasiS, Music Broadcast, Pioneer Distilleries, Rajratan Global, Reliance Power, Sangam India, Saregama, SBI Cards, South India Bank, SRF, Supreme Petro, SVP Global, Vardhman Textiles, Warren Tea, Zicom and Zensar Tech.
IPO Watch
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The initial public offering of Indigo Paints has subscribed over 3 times on day one of the issue opening. The Rs 1,170-crore issue, which will open till Friday, received bids of 1,04,67,410 shares against the offered 55,18,402 shares. Qualified Institutional Buyer and Non-Institutional Investor category was subscribed 0.10 and 1.10 times respectively. The portion reserved for eligible employees was subscribed 0.73 times.
Ahead of the issue, the company has raised Rs 348 crore from 25 anchor investors at Rs 1,490 a share; the price band of the issue is Rs 1,489-Rs1,490.
The Home First Finance IPO opens today for subscription. The issue consists of a fresh issue of Rs 265 crore and an OFS worth Rs 888.71 crore. Investors can bid for Home First Finance at a price band of Rs 517-518 per share in a lot size of 28 shares, translating to Rs 14,504 per lot.
Ahead of the issue, Home First Finance Company has raised Rs. 346 crore from 25 anchor investors. Shares were allotted at Rs. 518 a share