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Tracking the stock market movement

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On Monday, the Indian stock market ended at an encouraging high remark with several green signals in pharma, banks, metals, and FMCG stocks. The Sensex closed at 46,253 points, marking the bench at 154 points higher. Whereas Nifty50 index ended at 44 points higher at 13,558. The broader markets, on the other hand, continued to outperform benchmarks. Nifty Midcap and Nifty Smallcap indices jumped up by more than half a per cent each. Moreover, all sectoral indices ended higher except auto and realty indexes with Nifty Media, which ended 2 per cent higher, being the best-performing index of the day followed by Nifty PSU Bank and Nifty Metal. There is no looking back on Nifty’s green forward direction as it edged higher this week with short-lived retracement moves.

Which stocks were the top gainers and top losers?

Cipla, ONGC, L&T, Coal India, and Indian Oil Corporation stood as the Nifty50 top gainers of the day. On the other hand, the top losing stocks on the listing were Hero MotoCorp, M&M, Eicher Motors, Divi’s Labs and Wipro.

Cipla closed 4.11 per cent higher at 786.9 per share on the NSE. This was facilitated after an announcement stating the settlement of its litigation with Celgene Corporation. It was in relation to patents for cancer drug Revlimid.

Shares of DHFL closed 5 per cent lower at Rs 39.65. This came after the company said that the auditor had detected Rs 1,058.32 crore worth fraudulent transactions. Now, the company is undergoing a resolution process facilitated by the Insolvency and Bankruptcy Code or IBC.

Share Price of KEC International moved 0.15 per cent higher to settle at Rs 367.55 as the company has now secured new orders of Rs 1,438 crore.

The shares of IRCTC also gained 4 per cent to settle at Rs 1,478 apiece on the NSE. This was influenced by the firm’s successful conclusion of an offer for sale (OFS) on Friday. In this, the government divested a 20 per cent stake in the firm.

A 3.4 per cent increase was seen in the India Volatility Index to end at 19.43.

Conclusively, on the NSE, 1,204 stocks ended with gains while 697 stocks showed losses.

It is imperative to re-visit the leadership stocks post a massive rally.

Nifty PSU bank index rallying by over 8% became the major outperformer while Nifty Media index rallied by over 5%.  Ratio chart of Nifty Media index has made a comeback making a reversal post breakdown which tends to result in a sharp rally. This implies the outperformance of media stocks.

Heading towards the peak of November 2019, Nifty Auto index on the other hand stood out this week as stocks from top tier & second tier participated. However, only follow through momentum may strengthen in Auto stocks.

What happened to the Burger King IPO?

The Burger King which was listed today witnessed enormous gains and ended at Rs. 135 mark at 20 per cent gain on the National Stock Exchange. Issued at a price of Rs 60 per share, the stock got listed at Rs 112.50 apiece on the NSE at an 87.50 per cent premium over the issue price.

How interesting would be Mrs Bectors Food Specialities Ltd.’s IPO?

The bread and biscuit maker Mrs Bectors Food Specialties Ltd will be launching its IPO of Rs 540.54 crore on December 15 for subscription. The commodity would be ranging between a price band of Rs 286-288 per share.

Mrs Bectors is a Ludhiana-based firm and is making a second attempt at an Initial Public Offer after it made its first attempt in 2018. Then, the firm secured SEBI’s permission but then decided to go otherwise perhaps because of the then market conditions.

Mrs Bectors Food Specialties deals in premium and mid-premium biscuits and premium bakery segments in North India and manufactures crackers, cookies, creams, digestives and glucose, bread, kulcha, bun, cake, and pizza base. Mrs. Bector’s’ premium bakery products branded as “English Oven” (one of the largest selling premium bakery brands in Delhi NCR, Mumbai and Bengaluru) and its biscuits are sold under the name “Mrs Bector’s Cremica” (one of the leading biscuit brands in Jammu & Kashmir, Punjab, Himachal Pradesh, and Ladakh). The company is highly valued as the largest supplier of buns in the country. It deals with reputed brands such as McDonald’s, Burger King, and KFC.

What are the important things one should know before investing in the issue?

An equity investor shall be aware of the following points:

  1. The IPO is a fresh issue of Rs 40.54 crore equity shares along with an offer for sale (OFS) amounting to Rs 500 crore.
  2. This will be issued by existing shareholders GW Confectionary PTE. Ltd., GW Crown PTE. Ltd, Linus Pvt Ltd, and Mabel Pvt Ltd.
  3. The lot size is 50 shares and an individual investor can apply for up to 650 shares tantamount to Rs 187,200 (13 lots).
  4. A reservation of up to Equity Shares aggregating up to Rs 50 lakh for purchase by eligible employees is allowed and a Rs 15.00 per equity share discount shall be offered to eligible employees who will be bidding in the Employee Reservation Portion.
  5. Retail investors have 35 per cent portion of the issue reserved.
  6. The issue proceeds will be utilised for financing the project cost. The company is looking at expanding the Rajpura facility by establishing a new production line for biscuits.
  7. The Book Running Lead Manager to the offer are ICICI Securities, SBI Capital Markets, and IIFL Securities.
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