Khadim India Ltd lists on bourses tomorrow

Footwear retailer Khadim India will list on Exchange on Tuesday, 13 November 2017, following the conclusion of its Rs. 543 cr OPO offer last week.

Khadim India’s IPO was subscribed 1.90 times during 2 Nov to 6th. The price band for the IPO was fixed at Rs. 745-750 per share. The offer comprised fresh issue of equity shares aggregating up to Rs. 50 crore, besides an OFS of up to 65,74,093 shares by existing shareholders.

The net proceeds from the issue are to be used towards payment of loans and general corporate needs. Axis Capital & IDFC Bank were the lead managers to the issue.

Mahindra Logistics settles tepid on stock market debut

Shares of Mahindra Logistics, a subsidiary of Mahindra & Mahindra, made a tepid debut in stock market on Friday. The stock settled at Rs 429.15 on BSE, nearly flat in comparison with its issue price of Rs 429 on its debut on the Exchange on Friday, 10 Nov, 2017. 

The stock hit an intraday low of Rs. 416.55 per share, down by nearly 4%t and an intraday high of Rs. 433.95 /share, higher by 0.45% on BSE in Friday’s trade. The stock closed at Rs. 429.15 per share, higher by 0.03% from its previous close on BSE. 

Infosys, the top loser on the Nifty index; stock trades ex-dividend

I.T major Infosys Ltd was the top loser on the Nifty index as the company started trading ex-dividend on Tuesday. Infosys stock fell 2.4% to Rs. 921.3 posting it the biggest intraday percentage loss since Sept 4. The stock was down about 7% this year up to the close of yesterday 30 October 30.

Infosys Ltd had decided, 1^st Nov 2017 as the record date for determining the names and rights of the equity shareholders, enabling them to participate in the buyback. The buyback was announced on 19 August 2017. It involved buying back of 11.3 cr shares through a tender offer at a price of Rs.1150 per share resulting in a total offer size of Rs.13000 cr.

Mahindra Logistics is all set to launch its Rs. 829 crore IPO on Tuesday

Mahindra Logistics Limited, the subsidiary of Mahindra & Mahindra (M&M), is all set to launch its Rs. 829 Cr Initial Public Offering (IPO) on Tuesday, 31 October, 2017, at the upper end of the price band. The company has set a price band of Rs 425 - 429 per share for its offer. The offer will remain open for 3 days for subscription from 31 Oct to 2nd Nov 2017.

The IPO will be based on 100 percent share sale through the Offer-for-sale (OFS) route from its on-hand shareholders of 1.93 cr with total equity shares of face value of Rs.10 each. The IPO of Mahindra Logistics Ltd, however, does not hold fresh issue of equity shares.

Kotak Mahindra Capital Company and Axis Capital are the book running lead managers to the issue. Mahindra Logistics is a part of the Mahindra Partners Division of the Mahindra Group which operates in two separate business viz. supply chain management (SCM) and corporate people transport solutions (PTS). 

Quarterly results to dictate market trend this week

The continuing quarterly results season, together with global markets cues and direction of foreign funds are expected to keep the tone for the key Indian equity indices through this week.

The major companies announcing their July-Sept 2017 quarterly results include, Hindustan Zinc Ltd. and Indiabulls Housing Finance will declare their financial results today, 23 October 2017.

Infosys Ltd, Asian Paints, Ambuja Cements, ICICI Prudential, HDFC Bank, Zee Entertainment Enterprises and ABB India Ltd will announce July-Sept 2017 quarterly results on Tuesday, 24 October 2017.

Kotak Mahindra Bank, Hindustan Unilever, Glaxo smithkline Pharmaceuticals, HCL Technologies, Mahindra & Mahindra Financial Services, RBL Bank and Tata Communications will announce their results on Wednesday 25 October 2017, while Yes Bank will announce their earning result on Thursday, 26 October 2017, whereas ITC, IOC, ICICI Bank, and Maruti Suzuki India will announce July-Sep 2017 quarterly results on Friday, 27 October 2017.