RailTel Corporation of India IPO, Privatisation of PSU Banks, and Buzzing Stocks Today

Wed, 17 Feb Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

Indian share markets ended on a flat note yesterday led by a decline in IT and FMCG stocks.

At the closing bell yesterday, the BSE Sensex stood lower by 50 points.

Meanwhile, the NSE Nifty ended down by 1 point.

In intraday trade yesterday, the Sensex rallied over 300 points to hit fresh record high while the Nifty rose above 15,400.

Power Grid was among the top gainers.

Axis Bank, on the other hand, was among the top losers.

The BSE Mid Cap index ended up by 0.2%. The BSE Small Cap index ended higher by 0.5%.

Sectoral indices ended on a mixed note with stocks in the power sector and metal sector witnessing buying interest.

IT stocks and FMCG stocks, on the other hand, witnessed selling pressure.

Gold prices for the latest contract on MCX were trading up by 0.4% at Rs 47,428 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, in one of his videos for Fast Profits Daily, Vijay Bhambwani answers queries on intraday trading and also shares his views on how to decide stop losses and target prices.

Tune in to the video below to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be Astrazeneca Pharma.

Astrazeneca Pharma India shares rose yesterday after World Health Organisation (WHO) gave emergency use approval (EUA) to two versions of AstraZeneca-Oxford's Covid-19 vaccine, allowing these shots to be rolled out globally through COVAX.

The vaccines are being produced by AstraZeneca-SKBio (Republic of Korea) and the Serum Institute of India. The apex health organization has assessed the quality, safety and efficacy data, risk management plans and programmatic suitability, such as cold chain requirements of these two AstraZeneca- Oxford vaccines. The process took under four weeks.

Titan share price will also be in focus today.

Shares of Titan rose 1% in early trade yesterday after the company said its subsidiary, CaratLane Trading, has incorporated a wholly-owned subsidiary 'StudioC Inc' in Delaware, USA, for retailing jewelry.

StudioC Inc will carry on the business of jewelry retailing. CaratLane will subscribe to the share capital of US$ 150,000, which is 100% of the share capital of StudioC.

Titan Company is engaged in making and selling watches, jewellery, eyewear and others. The company's retail chain (including CaratLane) stands at 1,854 stores, as on 31 December 2020 with a retail area crossing 2.4 million square feet for all its brands covering 292 towns.

Earlier this month, the Tata Group company had posted a 10.9% decline in standalone net profit to Rs 4.2 billion on a 17.6% rise in total income to Rs 73.2 billion in Q3FY21.

RailTel Corporation of India IPO: Issue Oversubscribed in First Few Hours

In news from the IPO space...

RailTel Corporation of India kicked off its Rs 8.2-billion initial public offer (IPO) yesterday. The IPO saw strong demand as the issue was oversubscribed in first few hours of the subscription offer yesterday.

The public offer was subscribed 1.57 times in early morning deals. The issue received bids for 96 million equity shares against offer size of over 61.1 million shares.

The offer size mentioned above is excluding the anchor book. The company raised Rs 2.4 billion from anchor investors on Monday.

The mini-ratna PSU is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track. The company provides broadband telecom and multimedia network across the country.

The company has fixed a price band of Rs 93-94 a share for its initial share-sale.

The IPO is entirely an offer-for-sale (OFS) through which government will offload 87,153,369 equity shares, or 27.16% stake.

Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional bidders.

The last railway IPO that hit the street of IRFC had a weak market debut. But grey market trends suggest investors are betting big on the RailTel IPO.

The premium on the unlisted shares of RailTel had surged to Rs 44-47 in the grey market last week, the unofficial market for trading in unlisted shares.

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

Government Shortlists Four Banks for Potential Privatisation

The Government of India (GoI) has shortlisted four mid-sized state-run banks for privatization, under a new push to sell state assets and shore up government revenues.

Note that privatization of the banking sector, which is dominated by state-run behemoths with hundreds of thousands of employees, is politically risky because it could put jobs at risk.

The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India. Two of those banks will be selected for sale in FY22.

The government is considering mid-sized to small banks for its first round of privatization to test the waters. In the coming years, it could also look at some of the country's bigger banks.

The government, however, will continue to hold a majority stake in India's largest lender, State Bank of India, which is seen as a 'strategic bank' for implementing initiatives such as expanding rural credit.

India's deepest economic contraction on record caused by the pandemic is driving the push for bolder reforms. The GOI wants to overhaul a banking sector reeling under a heavy load of non-performing assets, which are likely to rise further once banks are allowed to categorize loans that soured during the pandemic as bad.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers