Now-hot-now-cold war cries on the Korean Peninsula, distress signs in the domestic economy and rapid exit of foreign portfolio money all hemmed in to drag the domestic stock market last week, and mutual funds were no longer able to cushion that fall. For some, it’s a wait-and-watch situation now; for others, it’s a stock-picking opportunity.
We scoured news sources for events and triggers that can sway select stocks on either direction and throw up opportunities. Take a look:
Shoppers Stop: An Amazon affiliate has agreed to buy a 5 per cent stake in the Indian retailer for Rs 179 crore ($27.6 million). Amazon.com NV Investment Holdings, a foreign portfolio investor, will subscribe to about 4.4 million shares in the retailer at Rs 407.78 apiece on a preferential basis, Shoppers StopBSE 15.50 % told stock exchanges late on Saturday.
Capacit’e Infraprojects: The Mumbai-based construction company is set to debut on Dalal Street on Monday. The company made quite a splash on the primary market this past fortnight as its initial public offering (IPO) saw a whopping 186-times subscription. The shares will be listed on both NSE and BSE. The company issues the shares at Rs 250 apiece.
Essar Ports: India’s second largest private port operator said its Rs 830 crore expansion plan to upgrade the iron ore handling capacity of the Vizag Terminal (outer harbour) from 12.5 MMTPA to 23 MMTPA is nearing completion. On completion, the upgraded terminal will have a loading rate of 8,000 tonnes per hour, which will be among the highest for an Indian port.
NDTV: The media house said its shareholders had approved sale of its automobile e-commerce firm Fifth Gear Ventures to Autobyte Private. The stock hit upper circuit limit of 5 per cent in a depressed market on Friday amid reports that SpiceJetBSE -3.73 % owner Ajay Singh was in talks to take over the media company. The news broadcaster later said it had not entered any agreement for a stake sale.
NMDC: India’s largest iron ore producer said it would divest at least more than 50 per cent stake in its upcoming Nagarnar iron and steel plant in Chhattisgarh as part of government’s strategic divestment plan. MD N Baijendra Kumar said company has hired SBI Capital, J Sagar Associates and Protocol Insurance as transaction, legal and asset valuation consultants.
GlaxoSmithKline: The pharma major said its board had approved the sale of around 60 acres of company land in Thane to Oberoi RealtyBSE 4.84 % for Rs 555 crore.
Vijaya BankBSE -3.17 % & Dena Bank: There are reports said the two PSU lenders are keen on a merger and are discussing synergies. This is in consistent with the government plan for PSU bank consolidation.
Maruti: India’s biggest carmaker had seven vehicles on the SIAM’s list of top 10 best-selling passenger vehicle models in August, with compact sedan Dzire emerging chart-topper in its new avatar.
SAILBSE -1.64 %, Nalco, Tata SteelBSE -3.18 %, HindalcoBSE -2.03 %, Jindal SteelBSE -3.19 %, Hind Zinc: Metal stocks went into a tailspin and had a fair share of blame to take for Friday’s slump in the domestic stock market as metal prices fell in global marketsin response North Korea tensions and S&P’s downgrade of China’s credit rating. Any rebound in the global commodity prices should help these stocks bounce back.[“Source-economictimes”]