RailTel and Nureca IPO, Top Q3FY21 Results, and Buzzing Stocks Today

Fri, 12 Feb Pre-Open

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Indian share markets ended on a positive note yesterday.

At the closing bell yesterday, the BSE Sensex stood higher by 222 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 66 points (up 0.4%).

Hindalco and Reliance were among the top gainers.

Eicher Motors and Titan were among the top losers.

The BSE Mid Cap index ended up by 0.5%. The BSE Small Cap index ended up by 1.1%.

Sectoral indices ended on a mixed note. Gains were largely seen in the energy sector and telecom sector.

Capital goods stocks, on the other hand, witnessed selling pressure.

Gold prices for the latest contract on MCX were trading flat at Rs 47,994 per 10 grams at the time of closing stock market hours yesterday.

Speaking of the precious metal, India's #1 trader, Vijay Bhambwani talks about why he thinks the bull market in gold has not come to an end and why he is still bullish on gold, in his latest video for Fast Profits Daily.

Tune in to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be Magma Fincorp.

Rising Sun Holdings, a company controlled in a personal capacity by Serum Institute of India CEO Adar Poonawalla, announced a transaction on February 10, 2021, to acquire a controlling stake in Magma Fincorp (MFL), a non-banking financial company (NBFC).

The deal will be carried out via a preferential issue of Magma Fincorp's equity shares worth Rs 34.5 billion. The deal also includes an open offer as per market regulator norms.

National Fertilizers share price will also be in focus today.

The central government has decided to sell 20% stake in National Fertilizers through an offer for sale (OFS).

The Department of Investment and Public Asset Management (DIPAM) on Wednesday invited tenders from merchant banks for the sale process.

NFL is the second-largest producer of Urea in the country with a share of about 16% of total Urea production in the country. NFL has five gas based Ammonia-Urea plants viz. Nangal & Bathinda plants in Punjab, Panipat plant in Haryana and two plants at Vijaipur at District Guna, in Madhya Pradesh.

NFL has an authorized capital of Rs 10 billion and a paid up capital of Rs 4.9 billion out of which the government holds 74.71% shares and 25.29% shares are held by financial institutions & others.

IPO Buzz: Nureca and RailTel IPO to Open Next Week

In news from the IPO space...

Healthcare and wellness products distributor Nureca will open its initial public offering (IPO) for subscription on February 15, with the price band fixed at Rs 396-400 per share.

The company plans to raise Rs 1 billion through the issue, which includes a reservation of shares worth Rs 10 million for its employees. The eligible employees will get shares at a discount of Rs 20 a share.

Investors can bid for a minimum of 35 equity shares and in multiples of 35 shares thereafter. The issue will close on February 17, 2021.

Nureca will utilise the proceeds for incremental working capital requirements and general corporate purposes.

A B2C company, Nureca is engaged in the business of home healthcare and wellness products. The company enables its customers with tools to help them monitor chronic ailments and other diseases to improve their lifestyle.

The company sells products through online channel partners such as e-commerce players, distributors and retailer and through own website drtrust.in.

In other news, state-owned information and communications technology infrastructure provider RailTel Corporation of India has decided to launch its initial public offer (IPO) for subscription on February 16, 2021.

The price band for the public issue has been fixed at Rs 93-94 per share, which is 9.3-9.4 times the face value of equity shares. The offer will close on February 18, 2021.

The IPO is a complete offer for sale of 87 million equity shares by the Government of India (GoI). Of which, 500,000 equity shares may be reserved for the company's employees.

The offer will give Rs 8.2 billion at higher price band to the government. Hence, the company will not get any money from this offer. Investors can bid for a minimum 155 equity shares and in multiples of 155 equity shares thereafter.

How the above IPOs sail through remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Q3FY21 Results: Coal India and Titan See Drop in Net Profits

Titan Company reported a 11% year-on-year (YoY) decline in its net profit for the quarter ended December to Rs 4.2 billion.

During the quarter, the company took a one-time loss of Rs 1.4 billion on account of scaling down its subsidiary Favre Leuba.

The company's revenues in the quarter surged 17% YoY to Rs 72.9 billion.

Titan reported a return to YoY growth in sales in the December quarter, suggesting that the company has healed from the impact of the Covid-19 pandemic seen earlier in the financial year.

While the jewellery business grew by 16% YoY, the watches and wearables and eyewear divisions also did well with the recovery rate for the quarter being 88% and 93%, respectively.

Sales in the company's jewellery division grew 16% to Rs 62.5 billion helped by impressive wedding season demand that the company witnessed.

Titan said that there was significant recovery in diamond studded jewellery suggesting that demand is coming back in the premium segment.

Coal India posted 21.4% year-on-year (YoY) fall in in its December (Q3FY21) quarter consolidated net profit at Rs 30.8 billion versus Rs 39.2 billion in the same quarter last year.

Its revenue was up 2.1% at Rs 236.8 billion versus Rs 231.9 billion.

The company's other income for the quarter was at Rs 6.4 billion versus Rs 14.1 billion.

In other news, Mumbai-based drug maker J B Chemicals & Pharmaceuticals witnessed buying interest today and hit fresh 52-week high of Rs 1,212.8 on the BSE. This came a day after the company announced December quarter earnings.

JB Chemicals' annual net profit in quarter ended December 2020 jumped 132% year-on-year (YoY) to Rs 1.5 billion from Rs 660 million during the same quarter last year.

Its revenues advanced 28% YoY to Rs 5.4 billion. The company had reported strong earnings in the December quarter on the back of higher operating profit margins.

JB Chemicals' earnings before interest, taxes, depreciation and amortization (EBITDA) or operating profit climbed 90% to Rs 1.7 billion and operating profit margin improved by 10% to 31.2%.

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