10th December, 2020 Morning Brief

Market will open with a gap down today after making new highs on the Indian indices yesterday.

Asian markets have slipped this morning amid dimming prospects for fresh stimulus. Overnight closing on Wall Street was negative. 

🎯 News & Impact 🎯 

🎯 IRCTC : Government intends to sell 20% stake in the company through an Offer for Sale. The initial sale will be of 15% stake or 2.4 crore shares with a greenshoe option of another 5% stake or 80 lakh shares. Floor price of Rs 1,367 per share is a 15% discount to Wednesday's closing price.

🎯 Federal-Mogul Goetze : The company's promoter plans to sell 1.15 crore shares or nearly 21% of the total equity through the OFS. The floor price of 335 rupees per share is a 4% discount to Wednesday's closing price. 

🎯 TCS : Share buyback opens on December 18 and will close on January 1, 2021.

🎯 Varroc Engineering : VarrocCorp Holding B.V., a wholly-owned subsidiary of the company, has acquired the remaining 30% stake or 60,000 equity shares of Varroc-Elba Electronics held by the other JV Partner, Elba SA, Romania for an aggregate consideration of €1.05 million. 

🎯 Glenmark Pharmaceuticals : Has redeemed $18,25,00,000 in aggregate principal amount of its 2021 Notes, representing approximately 91.25% of the aggregate principal amount of the 2021 Notes at the time of initial listing.

🎯 Chambal Fertilisers & Chemicals : Promoter Zuari Global created a pledge of 20 lakh shares on December 7.

🎯 JSW Steel : Promoters JSW Techno Projects Management, JTPM Metal Traders, Sahyog Holdings, Vividh Finvest and Danta Enterprises revoked pledge of 1.28 crore shares between December 3-7.

🎯 Axis Bank : Promoter Administrator of the Specified Undertaking of The Unit Trust of India sold 91.96 lakh shares between December 7-9.

🎯 Astra Microwave Products : Promoter C. Prameelamma sold 70,000 shares on December 7.

🎯 Texmaco Infrastructure & Holdings : Promoter Adventz Finance acquired 1.38 lakh shares on December 7.

🎯 Sequent Scientific : Promoter Chayadeep Ventures sold 7.44 lakh shares between December 7-8.

🎯 Adani Enterprises : Promoter Adani Tradeline revoked pledge of 27.83 lakh shares on December 7.

🎯 Sun Pharma Advanced Research Company : Promoter Raksha Valia created a pledge of 13.40 lakh shares on December 8.

🎯 Adani Ports & SEZ : Promoter Adani Tradeline revoked pledge of 8.82 lakh shares on December 7.

🎯 JSW Energy : Promoter Glebe Trading revoked pledge of 44.24 lakh shares on December 8.

🎯 Adani Transmission : Promoters Gautam Adani and Rajesh Adani revoked pledge of 1.84 crore shares on December 8.