Stocks

Companies and stocks to watch: October 20, 2020

K.S. Badri Narayanan | Updated on October 20, 2020 Published on October 20, 2020

Key results: IEX, Hindustan Unilever, L&T Infotech, Bombay Dyeing, Granules

Around two dozen companies will declare quarterly/half-year results on Tuesday. Among them are: Bombay Dyeing & Mfg, Crisil, CCL Products, DCM Shriram, Digicontent, Granules India, Gujarat Ambuja Exports, Hindustan Unilever, Hindustan Zinc, Indian Energy Exchange, IFB Industries, JSW Ispat Special Products, Kajaria Ceramics, Mahindra CIE Automotive, Maharashtra Scooters, Oriental Aromatics, Ramakrishna Forgings, International Constructions, Vardhman Acrylics and Websol Energy.

 

Will bullet train project speed up L&T?

Larsen & Toubro has emerged as the lowest bidder for the design and construction of a key corridor in the Mumbai- Ahmedabad High-Speed Rail corridor, also called MAHSR Bullet Train project.

The financial bids for the design and construction of 237 km length of mainline for Mumbai- Ahmedabad High Speed Rail corridor were opened on September 23. This tender covers about 47 per cent of total alignment of 508 km, between Vapi and Vadodara in Gujarat.

Other bidders included a consortium of Afcons Infrastructure Limited – IRCON International Limited – JMC Projects India, a consortium involving NCC Limited – Tata Project Ltd.- J. Kumar Infra Projects Ltd- HSR, according to National High Speed Railway Corporation Limited (NHSRCL).

Larsen & Toubro emerged as the lowest bidder at Rs 24,985 crores for constructing the 237.1 km under Package C4 of the 508.17 km Mumbai – Ahmedabad High-Speed Rail project

 

Equitas Small Finance Bank public issue opens for subscription

 

The initial public offering of Equitas Small Finance Bank (ESFBL), the subsidiary of Equitas Holdings, will open for subscription on Tuesday. The SFB has fixed a price band of ₹32-33 per share for the IPO.

The issue, which consists of a fresh issue of up to ₹280 crore and an offer for sale of up to 72 million equity shares by Equitas Holdings, will be open for anchor investors on October 19 and for all other investors between October 20-22. The current price band translates to an issue size of ₹510-518 crore.

The response to the public issue will keep other listed SFBs such as AU Small Finance Bank and Ujjivan Small Finance Bank in focus. Besides, shareholders of its parent Equitas Holdings will also closely monitor the response to the issue.

 

Dhanuka Agritech buyback offer opens today

The buyback offer to the shareholders of Dhanuka Agritech will open for subscription on Tuesday.  The company approved the proposal of buyback of shares worth up to Rs 100 crore and fixed September 28 as the record for determining the entitlement of equity shareholders.

Accordingly, the company plans to buy back up to 10 lakh equity shares at a final buyback price of Rs 1,000 a share.

Shareholders whose name had appeared on the company's record book as on September 28, 2020, are only eligible to participate in the buyback, which would on a proportionate basis through tender route.

The offer closes on November 3. The stock on Monday closed at Rs 699.60 on the BSE.

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Published on October 20, 2020
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