Mutual Fund Buying Activity in February, Easy Trip Planners IPO, and Buzzing Stocks Today

Tue, 9 Mar Pre-Open

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Indian share markets ended their day on a flat note yesterday.

At the closing bell yesterday, the BSE Sensex stood higher by 35 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 18 points (up 0.1%).

GAIL and UPL were among the top gainers.

IndusInd Bank was among the top losers.

The BSE Mid Cap index ended up by 0.3%. The BSE Small Cap index ended up by 0.6%.

Sectoral indices ended on a mixed note. Gains were largely seen in the capital goods sector and energy sector.

Gold prices for the latest contract on MCX were trading down by 0.6% at Rs 44,403 per 10 grams at the time of closing stock market hours yesterday.

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Top Stocks in Focus Today

Among the buzzing stocks today will be Adani Ports & SEZ.

Windy Lakeside Investment, a unit of private equity firm Warburg Pincus, will invest Rs 8 billion for a 0.5% stake in Adani Ports and Special Economic Zone (APSEZ), the latter confirmed in a regulatory filing on March 7, 2021.

The Board of Directors of APSEZ took the decision to issue up to 10 million equity shares to Windy Lakeside Investment (Windy) at a price of Rs 800 per equity share (at a premium of Rs 798 per equity share), for an aggregate consideration of up to Rs 8 billion, APSEZ said in the notice issued to the exchanges.

Apart from this, the board approved the issue of notice convening an extraordinary general meeting (EGM) of the shareholders of the company to be held on April 6, 2021 through video conferencing.

Aarti Drugs share price will also be in focus today as a wholly owned unit of the bulk drugmaker received an approval accorded under India's scheme to offer incentives to boost local pharma ingredients capacity.

Aarti Specialty Chemicals has received approval for 2-methyl-5-nitro-imidazole, with a committed production capacity of 4,000 million tonnes per annum, under the production-linked incentive scheme, according to an exchange filing on Monday.

The rate incentive will be 10% of the total sales value per annum for a period of six years. The approval will be valid until FY28.

Market participants will also track Titan share price today as India's largest watch maker on Friday introduced a range of products under its youth centric Fastrack brand, expanding offerings in the wearables segment as well as entering the audio accessories market as it plans to corner a bigger share in the country's growing market for wearables and audio products.

Fastrack Reflex was launched in 2017, marking its entry into the smart wearable devices. Fastrack by Titan is largely targeted towards younger consumers or GenZ.

On Friday, the company announced multiple launches -- Fastrack Reflex 3.0 smart bands, Fastrack Reflex 2C Pay -- a fitness band that enables contactless payments in association with YONO SBI, and smart audio accessories under Fastrack Reflex Tunes.

Mutual Funds Pull Out Rs 163 Billion from Equities in February

In news from the mutual funds space...

Mutual funds pulled out Rs 163.1 billion from equities in February, making it the ninth consecutive monthly outflow as small investors booked profit amid a rally in stock markets.

Overall, mutual funds withdrew a net amount of over Rs 564 billion in 2020, data available with the markets regulator showed.

According to the data, MFs have been continuously withdrawing money from equities since June 2020 and pulled out over Rs 1.24 lakh crore till February.

On a month-on-month basis, MFs withdrew Rs 163.1 billion from equities in February, 130.3 billion in January, Rs 264.3 billion in December, Rs 307.6 billion in November, Rs 144.9 billion in October, Rs 41.3 billion in September, Rs 92.1 billion in August, Rs 92 billion in July and Rs 6 billion in June.

However, they have invested over Rs 402 billion in the first five months (January-May) of 2020. Of this, Rs 302.9 billion was invested in March last year.

On the other hand, mutual funds invested Rs 81.6 billion in debt markets in the month under review.

The surge in markets, despite the withdrawals from mutual funds in the last few months, has continued to rise on robust flows from FPIs.

Benchmarks Sensex and Nifty have risen over 70% from their lows of March 2020 till date, while the BSE Midcap index has risen 95% and BSE Smallcap index rose over 120% in the same period.

Foreign Portfolio Investors (FPIs) have put in Rs 257.9 billion in the Indian stock markets in February after investing Rs 194.7 billion in January and Rs 1.7 lakh crore in the entire 2020.

How this trend pans out in the coming months remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space. Stay tuned.

Easy Trip Planners IPO: Company Raises Rs 2.2 Billion from Anchor Investors

In latest developments from the IPO space...

Delhi based online travel agency Easy Trip Planners kicked off its Rs 5.1-billion initial public offering (IPO) for subscription yesterday.

The online travel company on Friday raised a little over Rs 2.2 billion from anchor investors, ahead of its initial share-sale.

A total of 1,22,72,727 shares have been allocated to 35 anchor investors at Rs 187 per share, which is the upper end of the price band.

Among the investors that have been allocated shares are HSBC Global Investment Funds, Nomura Funds Ireland Public Limited Company, Tata Trustee Company, Aditya Birla Sunlife Insurance Company, Sundaram Mutual Fund, Bajaj Allianz Life Insurance Company and Nippon Life India Trustee Company.

The issue closes for subscription on March 10, 2021.

The company aims to raise Rs 5.1 billion through its public issue which is a complete offer-for-sale (OFS). Promoters Nishant Pittie and Rikant Pittie, holding 49.8% and 49.7% respectively in the company, will sell up to Rs 2.5 billion worth of shares each.

EaseMyTrip.com is operated by Easy Trip Planners Private Limited.

For the calendar year 2021, Easy Trip will be the tenth issue, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation of India, Heranba Industries and MTAR Technologies.

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

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

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