Ms Bectors Food sets IPO price band at Rs 286-288 per share
Bread and biscuit maker Mrs. Bectors Food Specialties Ltd will launch its initial public offering (IPO) for subscription on December 15 at a price band set at Rs 286-288 per share.
The Rs 540.54 crore IPO would comprise a new issue of shares worth Rs 40.54 crore and an Offer to Sell (OFS) worth Rs 500 crore by existing shareholders Linus Pvt Ltd, GW Confectionary PTE. Ltd., GW Crown PTE. Ltd and Mabel Pvt Ltd.
The lot size of the issue is 50 shares. An individual retail investor can order up to 13 lots (650 shares or Rs 187,200).
This offer includes a reserve of up to such Capital Shares totaling up to Rs 50 lakh for purchase by eligible employees. A discount of Rs 15.00 per share capital will be offered to eligible employees who bid on the employee reserve portion. read more
Opening bell: Benchmarks of Indian stocks opened higher on Friday after a rally in Asian pairs as progress on COVID-19 vaccines boosted investor sentiment.
At 9:15 a.m., the Sensex opened 0.22 percent, or 100.44 points, higher at 46,060.32, while the Nifty50 index opened at 13,512.30, a rise of 34.00 points or a 0.25 percent. The broader markets outperformed the top-line indices with the Nifty Smallcap100 and Nifty Midcap100 indices rising 0.99 percent and 0.83 percent, respectively.
All industry indices were green, led by Nifty PSU Bank, Nifty Metal, Nifty FMCG and Nifty Media.
ONGC, GAIL India, UPL, IOC and NTPC were the main winners of Nifty50, while Adani Ports & SEZ, Nestlé India, Infosys, Tata Motors and Asian Paints were the main losers of the index.
Blackstone Signs Deal to Buy Piramal Glass for $ 1 Billion
Private equity major Blackstone has signed a deal to acquire Piramal Glass from Piramal Group for around $ 1 billion.
The agreement outline includes an upfront payment of $ 850 million, while Piramal Group will earn approximately $ 150 million by achieving certain milestones, to be paid over 2 years.
CNBC-TV18 on December 3 had reported on the contours of the deal.
This will be Piramal Group’s second multi-billion dollar deal this year to capitalize on the group that has a large NBFC division. At the beginning of the year, the group had sold US-based DRG for about a billion dollars. Piramal has taken many steps to raise funds through a rights issue, investments in CDPQ, sale of a minority stake in Piramal Pharma to Carlyle. Here is more about it
Here’s how you can invest in foreign stocks from India
Strategic investing is an art, and with the growing awareness of capital investment, more and more people are looking to invest in companies based abroad. With the economic recovery in most countries, Indian retail investors are diversifying and broadening their investment horizons to get massive returns from foreign equity markets.
For example, Wall Street is home to some of the world’s multi-billion dollar stocks, including Google, Facebook, Tesla, Microsoft, Amazon, Apple, and many more. Buying these shares enables Indian investors to diversify their portfolio, take advantage of greater opportunities and also maximize profits.
However, there are few downsides to investing in foreign stocks, such as high fees from brokerages. For example, if you are trading US stocks, you should be prepared to pay high fees to dollar brokerages. Another disadvantage is that earnings will always be subject to the currency exchange rate. Keep reading!
Click here to read 10 things you need to know before today’s opening bell.
Click here to read the best stocks to stay tuned for the day.
Automotive Sector Faces Shortage of Critical Components for Manufacturing
German car suppliers Continental, Bosch and Volkswagen, the world’s largest automaker, warned on Friday of a shortage of semiconductor components needed for automotive production.
These semiconductors are used in various parts of Electronic Component Units (ECUs) and the entire supply chain could be disrupted because Bosch is one of the major players supplying semiconductors to this space.
The pandemic has affected the production of cars and auto parts globally, and car manufacturing has become increasingly dependent on imported chips for electronic parts, such as electronic control units and electronic stability programs. Read more here
A key FDA advisory panel voted 17 to 4 and one member abstained to recommend approval of Pfizer & BioNTech’s coronavirus vaccine for emergency use, the last step before the FDA gives the final go-ahead for distribution. widely the first doses in the US.
A key FDA advisory panel voted 17 to 4 and one member abstained to recommend approval of #Pfizer And BioNTech’s #coronavirus #vaccine for emergency use, the last step before the FDA gives the final go-ahead to widely distribute the first doses across the U.S. https://t.co/6H5GpZ4L0V pic.twitter.com/FtKA4BABLC
– CNBC-TV18 (@ CNBCTV18Live) December 11, 2020
Here’s how the markets fared on Thursday!
Benchmark Indian stock indices Sensex and Nifty snapped a seven-day winning streak to end lower on Thursday dragged by the sale of bank and auto stocks amid negative global signals.
The Sensex closed 143.62 points or 0.31 percent lower at 45,959.88 while the Nifty lost 50.80 points or 0.38 percent to close at 13,478.30. Nifty Bank drank 199 points to 30,510.
The broader indices underperformed the benchmark indices, with the Nifty Smallcap100 and Nifty Midcap100 indices falling 0.53 and 0.83 percent, respectively.
Among the sectors, Nifty PSU Bank, Nifty Auto, Nifty Financial Services and Nifty Media fell the most, while Nifty FMCG, Nifty Realty and Nifty Metal finished in the green. Click here to read more
Welcome to our Market Live blog!
This is Mousumi Paul from the CNBC-TV18 desktop team and I’ll be updating you on all the recent action in the stock market, the economy and the corporate world. For starters, we expect the Indian stock market to open flat on Friday amid mixed sentiment in global pairs. At 7:28 am, the SGX Nifty traded 31 points higher at 13,566, indicating a flat start for the Sensex and Nifty50.
