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Markets will remain closed on 14th April, 2021 on account of Dr. Baba Saheb Ambedkar Jayanti.

MTAR Technologies IPO, Cochin Shipyard's MoU with DCI, and Buzzing Stocks Today
Fri, 26 Feb Pre-Open | Monish Vora, TM Team

Indian share markets continued their positive trend during closing hours yesterday and ended their day on a firm note.

At the closing bell yesterday, the BSE Sensex stood higher by 257 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 115 points (up 0.7%).

Coal India and UPL were among the top gainers.

ICICI Bank was among the top losers.

The BSE Mid Cap index ended up by 1.1%. The BSE Small Cap index ended up by 1.4%.

Sectoral indices ended on a positive note. Gains were largely seen in the energy sector and metal sector which ended the day up by 3.9% and 3.4%, respectively.

At 8:00 am today, the SGX Nifty was trading down by 274 points, or 1.8% lower at 14,900 levels. Indian share markets are headed for a gap-down opening today following the negative trend on SGX Nifty.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 46,475 per 10 grams at the time of closing stock market hours yesterday.

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Top Stocks in Focus Today

Coal India will be among the top buzzing stocks today.

As per a leading financial daily, Coal India is planning to invest Rs 1.43 lakh crore in 26 projects in new business areas. The new business areas will include solar wafer manufacturing, a greenfield aluminium project along with brownfield aluminium projects in a joint venture with NALCO, solar generation projects, and thermal power plants.

The company has received approvals from NITI Aayog, DIPAM for the solar water manufacturing and the greenfield aluminium projects. It has already prepared a draft market assessment report and plans for a special purpose vehicle (SPV) and aims to float tender for the JV by Q2FY22.

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Axis Bank share price will also be in focus today.

This comes as the Insurance Regulatory and Development Authority of India (IRDAI) has given its formal approval for the acquisition of up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital & Axis Securities (together Axis Entities).

The IRDAI approval was an integral step in this long-awaited joint venture transaction which was first announced in April 2020.

Market participants will also track Indiabulls Real Estate share price today.

The Competition Commission of India (CCI) has approved the proposed merger of NAM Estates and Embassy One Commercial Property Developments into Indiabulls Real Estate (IBREL).

IBREL as well as Embassy Group's arm NAM Estates and Embassy One Commercial Property Developments had entered into definitive merger documentation to amalgamate ongoing, completed, and planned residential and commercial projects of these two subsidiaries, a regulatory filing said.

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IPO Buzz: MTAR Technologies to Launch IPO Next Week

In news from the IPO space...

MTAR Technologies, a precision engineering solutions company, is set to launch its initial public offering (IPO) for subscription next week on March 3, 2021.

Through this issue, the company looks to raise Rs 5.9 billion, at the upper end of the price band. The issue will close for subscription on March 5, 2021. The issue comprises a fresh issue of 21.48 lakh equity shares by the company and an offer for sale (OFS) of 82.24 lakh equity shares by promoters and investors.

The company has fixed the price band of the issue at Rs 574-575 per share of face value of Rs 10 each.

The Hyderabad-based company has precision engineering capabilities to build nuclear and pressurized water reactors, aerospace engines, missile systems, aircraft components and many such other critical components and assemblies.

MTAR supplies high-precision machine fabricated systems to DRDO Labs, Bharat Dynamics, HAL, BEL, etc., and other defence R&D.

In the calendar year 2021, MTAR Technologies would be the ninth public issue after Indian Railway Finance Corporation (IRFC), Indigo Paints, Home First Finance Company India, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation of India and Heranba Industries.

Reports state that the recent government initiatives such as Make in India, India aiming to become an exporter in defense sector, rising budgetary allocations for defense and space sectors, provide a great opportunity to companies such as MTAR Technologies.

How the above IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

Cochin Shipyard Signs Pact for Building Dredgers

Public sector company, Cochin Shipyard (CSL) has signed a memorandum of understanding (MoU) with the Dredging Corporation of India (DCI) and IHC Holland BV, a Dutch firm doing design and construction of dredgers, for making world-class dredgers.

The MoU was signed in the presence of the Minister of State for Ports, Shipping and Waterways, Mansukh Mandaviya, in Delhi, according to a press release.

The release said the DCI was in talks with the shipyard, which expressed its willingness to construct Trailing Suction Hopper Dredger (TSHD) adhering to the best designs and technologies available globally.

"The CSL and IHC Holland BV have arrived at an understanding to work together to provide locally built world-class dredgers. High-capacity dredgers in the range of 8,000 cubic metres to 12,000 cubic meters are complex equipment being built in India for the first time," the release quoted Madhu Nair, Chairman and Managing Director of the Cochin Shipyard.

Cochin Shipyard on Tuesday also said it has emerged as the lowest bidder for a Rs 100-billion contract by the Indian Navy, to build Next Generation Missile Vessels. The state-owned company has emerged as a forerunner in the Indian shipbuilding and ship repair industry that can build and repair the largest vessels in India.

Cochin Shipyard is the largest shipbuilding and maintenance facility in India. It is part of a line of maritime-related facilities in the port-city of Kochi, in the state of Kerala, India. Of the services provided by the shipyard are building platform supply vessels and double-hulled oil tankers.

We will keep you posted on more updates from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

Sensex Trades Marginally Higher, Dow Futures Up by 17 Points (Today's Market)

Apr 13, 2021 12:30 pm

BSE Sensex is trading up by 167 points, while the NSE Nifty is trading up by 50 points.

Indian Share Markets Open Marginally Higher; ONGC and M&M Top Gainers (Today's Market)

Apr 13, 2021 09:30 am

Indian share markets open in green. The BSE Sensex opened up by 156 points, while the Nifty is trading higher by 52 points.

HEG Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

Apr 13, 2021 09:32 AM

HEG share price is trading up by 5% and its current market price is Rs 2,177. The BSE CAPITAL GOODS is up by 0.7%. The top gainers in the BSE CAPITAL GOODS Index are HEG (up 5.3%) and GRAPHITE INDIA (up 7.5%). The top losers are KALPATARU POWER (down 0.1%) and HONEYWELL AUTOMATION (down 0.4%).

BANK OF MAHARASHTRA Share Price Up by 6%; BSE BANKEX Index Up 1.0% (Today's Market)

Apr 13, 2021 09:32 AM

BANK OF MAHARASHTRA share price is trading up by 6% and its current market price is Rs 24. The BSE BANKEX is up by 1.0%. The top gainers in the BSE BANKEX Index is BANK OF MAHARASHTRA (up 5.9%). The top losers is KOTAK MAHINDRA BANK (down 0.3%).

ADANI PORTS & SEZ Share Price Down by 5%; BSE 500 Index Up 0.1% (Today's Market)

Apr 13, 2021 09:26 AM

ADANI PORTS & SEZ share price is trading down by 5% and its current market price is Rs 755. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are GRAPHITE INDIA (up 5.4%) and GSK CONSUMER (up 5.1%). The top losers are ADANI PORTS & SEZ (down 5.3%) and MAH. SCOOTERS (down 5.2%).

MAHINDRA HOLIDAYS Share Price Down by 6%; BSE 500 Index Up 0.1% (Today's Market)

Apr 13, 2021 09:26 AM

MAHINDRA HOLIDAYS share price is trading down by 6% and its current market price is Rs 221. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are GRAPHITE INDIA (up 5.4%) and GSK CONSUMER (up 5.1%). The top losers are MAHINDRA HOLIDAYS (down 6.4%) and MAH. SCOOTERS (down 5.2%).

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