Stocks in focus on September 21, 2020

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Here are Stocks in focus on September 21, 2020

New Delhi: Markets ended in red for the second consecutive session on Friday led by losses in banking, financials amid mixed global cues.

The BSE Sensex closed at 38,845.82, down 134.03 points or 0.34 per cent. Similarly, the broader NSE Nifty slipped 11.15 points or 0.10 per cent to finish at 11,504.95.

Here are Stocks in focus on September 21, 2020

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RITES

Transport Infrastructure Consultancy and Engineering firm RITES Ltd on Friday said its board has approved buyback of 96.98 lakh shares with repurchase amount not exceeding Rs 257 crore. The company was listed in July 2018, and at present 72.02 per cent shares are held by the Government of India and the balance is with the public and financial institutions. The company said the board has fixed September 30, 2020 as record date for the purpose of ascertaining the eligibility of shareholders for the buyback.

Route Mobile Listing

Route Mobile shares will be listed on the bourses today. The IPO was subscribed 73 times on the last day of bidding. The Rs 600-crore public offer of Route Mobile, a cloud communications service provider, received bids for over 89 crore shares as against the total issue size of 1.21 crore shares. Qualified institutional buyers (QIBs) category was subscribed 91 times, non-institutional investors category 195.61 times and retail individual investors portion was subscribed 12.85 times, according to merchant bankers. The IPO comprises of fresh issue of Rs 240 crore and an offer for sale of Rs 360 crore. Price range for the offer was Rs 345-350 per share.

IRCTC

The Indian Railways will run 40 pairs of new special trains. It has also decided to run 20 pair of ‘clone’ trains along with the special trains, booking for which began on September 19, 2020. 

HSIL

The meeting of the board is scheduled today to consider the proposal of buyback of the fully paid-up equity shares of the company.

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