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Stocks in Focus on April 7: Barbeque Nation, Macrotech Developers IPO, SCI, Tata Steel to Bharti Airtel; here are the 5 Newsmakers of the Day

Zee Business logo Zee Business 07-04-2021 zeebizindia@gmail.com (Zee Business)
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Stocks in Focus on April 7: Key equity indices ended almost flat with some positive bias after volatile trade on Tuesday, April 6, 2021. The S&P BSE Sensex advanced 42.07 points or 0.09 per cent to 49,201.39. The Nifty 50 index added 45.70 points or 0.31 per cent to 14,683.50. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, April 7, 2021. List of such five stocks:

Barbeque Nation Listing + Macrotech Developers IPO 

Barbeque Nation: Barbeque Nation is scheduled to be listed on the bourses today, i.e. April 7, 2021. The Rs 453 crore initial public offering of the popular dining chain was open for subscription from March 24-26, 2021. The offer was available in the price band of Rs 498-500 per equity share.

 

Macrotech Developers IPO: The initial public offering (IPO) of Macrotech Developers will open for subscription today. The public offer will remain open for subscription till Friday, April 9, 2021. The IPO has a price band of Rs 483-486 per share and it will be the first offering in the new financial year 2021-22 (FY22). The real estate developer will raise Rs 2,500 crore through the fresh issuance of shares. The bid lot comprises 30 equity shares and in multiples thereof. Retail investors can bid for a maximum of 13 lots. The company will use the proceeds for reducing its net debt, land acquisition and corporate purposes. Besides, Macrotech Developers, formerly known as Lodha Developers, has raised Rs 741 crore from 21 anchor investors on Tuesday, a day ahead of the issue opening. The anchor investors include Smallcap World Fund, Nomura India, Societe Generale and Abu Dhabi Investment Authority among others.

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Vedanta Open Offer: Vedanta’s buyback offer for 65.1 crore shares, which started on March 23, 2021, will close today. The open offer is available at Rs 235 per share, which is 47% higher than the Rs 160 offered in January.

SCI + Mazagaon Dock: Government is likely to provide a big subsidy to the Indian shipping companies on cargo transportation of PSUs, sources aware of the development informed Zee Business. According to the sources, the Ministry of Ports, Shipping and Waterways has prepared a Cabinet note for the purpose. The subsidy will be provided on participation in the global tenders of the ministries and CPSEs. The government will help in buying more vessels and cargo transport and subsidy support will be provided for bidding in the central government’s tenders. Finance Minister has announced a subsidy of Rs 1,624 crore in the Union Budget 2021-22. 

Q4FY21 Business Update: Tata Steel & Subsidiaries 

Tata Steel: Tata Steel has announced its production and sales volume of Q4FY21 and reported that its production of crude steel grew by 3% QoQ to 4.75 million tonnes. India Delivery volume increased 16% YoY at 4.67 million tonnes and domestic delivery grew 22% YoY at 4.17 million tonnes. The company has reported the highest annual delivery volumes at 17.30 million tonnes in FY21 and exports were at 11% of overall deliveries. There was a production cut of 7% in FY21 due to the disruptions caused by the COVID-19 pandemic.

 

Tata Steel Long Products: The company has announced the Q4FY21 production and sales volumes. It produced 1,86,000 tonnes of crude steel in Q4FY21, which is 7% more on an MoM basis and 19% more on a YoY basis. It sold 1,72,000 tonnes in Q4FY21, which is 4% up MoM and 25% up YoY. FY21 production was also highest ever with 11%YoY growth despite disruptions caused by the COVID-19 pandemic.

Tata Steel BSL: It has announced its production and sales volumes of Q4FY21 and reported that the company has produced 1.18 million tonnes of crude steel in Q4FY21, which was 6% up QoQ and 5% up YoY. Its sales volume stood at 1.19 million tonnes in the period, which was 4% up QoQ and 22% up YoY. The company has reported a 9% YoY decline in production in FY21 due to the disruptions caused by the COVID-19 pandemic. It registered the highest annual sales volume of 4.31 million tonnes in the reported quarter, which is 4% up YoY.

Bharti Airtel: The telecom major, Airtel has announced Spectrum Trading Agreement with Reliance Jio Infocomm (Jio). As per the agreement, Jio can use Airtel’s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz). The agreement is subject to statutory approvals. Through this agreement, Airtel will receive a consideration of Rs 1037.6 crores from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crores relating to the spectrum.

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