Bharti Airtel divests 83 mln shares of Bharti Infratel for Rs 3,325 crore

Bharti Airtel today expressed that it has divested 83 million shares of its assistant, Bharti Infratel, for Rs 3,325 cr through alternate share sale in the stock market. The sale was done @Rs 400.6/share, representing a discount of 3.6% to the previous day's closing price.

Bharti Airtel, India's enormous medium function, will primarily utilize the incomes from this selling to decrease its indebtedness, as per report. Airtel's united indebtedness stood at Rs 91,480 crore as on Sept 2017. Bharti Airtel and its wholly owned assistants together have an asset holding of 53.51%in structure institution Bharti Infratel, the company said.

Bharat-22 ETF to raise Rs 8000 Cr.

The government will start the 'Bharat 22' ETF (Exchange Traded Fund), managed by ICICI Prudential MF, to garner about Rs 8000 cr. As per statement, the new fund offer will open for anchor investors on Nov 14 2017, whereas subscription for retail investors will launch from Nov 15 and continue till Nov 17.

Bharat-22 ETF consists of 22 scrips of public sector units, banks and companies in which the govt holds a minority stake.  It is a good opportunity for investors to play a part in some of the best entities with high future growth potential.

The state-owned companies or PSUs that are part of the new ETF are IOCL, ONGC, BPCL, SBI, Coal India Ltd and Nalco.  The other Central PSUs on the list are Bharat Electronics, Engineers India, NTPC, NBCC, SJVNL, NHPC, PGCIL, GAIL India and NLC India.

The govt is expected to fetch an initial amount of Rs. 8,000 cr from the Bharat-22 ETF. ICICI Prudential MF has already filed docs for the new ETF with markets regulator Sebi.

Bharat Forge hits 52 week high

Bharat Forge reported stellar results for the quarter ended Sept 30, 2017 on Wednesday. Total sales for Q2FY18, arrived at Rs. 1,258 cr, representing a 0.02% sequential increase and 34.42% Year on Year increase. Operating profit for the recently concluded quarter figured to Rs. 291.3 cr and the Earnings before Interest & Taxes margin stood at 23.2%. The company reported Profit after tax of Rs. 203.7 cr, which represents a sequential QoQ increase of 16.4% and a YoY increase of 60.6%. The stock today opened at Rs. 720 and hit a 52-week high of Rs. 733.65 on the BSE. Bharat Forge has also declared an interim dividend of Rs. 2 per equity share of face value of Rs.2.00

Bharat Forge Limited is a Pune-based Indian multinational company involved in automotive, oil and gas, power, locomotive, construction, mining, marine and aerospace industries. 

Reliance Nippon AMC to be listed on NSE on Nov 6

The shares of Reliance Nippon AMC will be listed on the National Stock Exchange (NSE) on Monday, Nov 6. The listing ceremony at NSE will be attended by the Reliance group chairman Anil Ambani; Anmol Ambani, ED, Reliance Capital; among other company dignitaries of the company.

The initial offer sale aimed at raising an estimated Rs. 1,542.24 crore, received bids for 3,493 mln shares against the total issue size of 4,28,40,000.

The IPO had opened for subscription from Oct 25- 27, 2017 in a price band of Rs. 247- 252, which was oversubscribed by 81.54 times at the close of the bidding.

The Rs 1,540 crore IPO saw healthy demand in all three investor categories.  The institutional portion was oversubscribed 118 times; HNI segment was oversubscribed by 209.44 times and retail investor portion by five times.

NSE withdraws advance collection of service charges from October

National Stock Exchange (NSE) has decided to stop advance collection of service charges, including transaction fee related to cash market, equity derivatives and currency derivatives segments, from this month.

Moreover, the NSE would not collect in advance annual charges for applications related to connectivity and co-location. The step is effective for all new requests from October 2017, as per NSE circular.

The exchange shall raise appropriate bills on the member at the end of each month for services consumed during that month. However, it said interest-free security deposits and one time charges, if any, applicable, wherever, would be collected in advance.

Welspun Corp Report & Positional trading Advice for Tomorrow (30 Aug 2017)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in WELCORP.

“WELCORP is the stock which We would recommend to buy above Rs 140; this can see a upside to levels closer to Rs 145-146 zones, keep stop loss below Rs 133.

Margins for this quarter have been good, but some moderation in margins is expected in later part of the year & I expect the company to maintain trend of volumes of around millions of tonne for this financial year as well.

Although Saudi business will continue to be a bit of a drag. We expects the outlook to be little better in the quarters ahead than what it has been at the end of Q1.

WELCORP was closed 3.20 per cent up today at Rs 138.50 NSE.