Market this week 16-12-2022

Market this week 13 12 2022 1

Sapphire Foods increases after a 10.7% equity trade.

Operator of KFC and Pizza Hut Sapphire Foods saw a rise of almost 2 percent in early trading on December 15 after a bunched trade involving 10.7 percent of the company’s stock. Promoter organisations and a private equity fund reportedly sold some of their shares.

The stock was trading at Rs 1,393 per share on the National Stock Exchange at 10:30 am, up 2.5 percent. Over 4 times as many trades were made (566,064) as the 20-day average volume of 123,151.

The promoter groups Sapphire Foods Mauritius, Sagista Realty Advisors, and private equity fund WWD Ruby planned to sell 40 lakh, 1.5 lakh, and 31 lakh shares, respectively, on December 15, the company informed exchanges.

As the government’s OFS begins, IRCTC records its greatest fall in three months.

As the government’s equity sale via OFS began, Indian Railway Catering and Tourism Corporation (IRCTC) saw a 5% decrease in early trading on December 15.

The stock dropped 5.25 percent after the market opened, its worst decline since it lost more than 7 percent on August 29. The stock price was down 4.62 percent at Rs 700.95 per share at 9:45 a.m.

The government expects to raise Rs 2,720 crore for the exchequer by offering to sell up to 5% of its ownership in the company at a minimum price of Rs 680 per share.

With the option to sell an additional 2.5 percent, it plans to sell a total of 4 crore shares, or a 5 percent interest, in the company.

Analysts are unimpressed by Colgate-expansion Palmolive’s goals, and shares are down 2% in early trading.

Colgate-Palmolive (India), a major oral care products company, had a decrease in share price of more than 2% on December 14 as a result of analysts’ continued scepticism over the premiumization plans the company unveiled at its annual investor day.

At 10 am, the stock was trading on the National Stock Exchange at Rs 1,607 per share. It has returned 10% so far this year, compared to a 22% increase in the Nifty FMCG within the same time frame.

People in urban homes change their toothbrush every six months, whereas those in rural ones do so every fifteen months, according to Kantar World Panel.

According to CEO Prabha Narasimhan, only approximately 20% of households in metropolitan regions and 55% of people in rural areas wash their teeth twice a day.

Despite unveiling a Rs 850 billion share buyback plan, Paytm’s stock drops.

Despite the company’s board of directors having approved a Rs 850 crore share buyback plan on December 13, shares of One 97 Communications, the business that runs Paytm, rapidly gave up their opening gains on December 14 and traded down.]

The company said that it would repurchase up to 10.5 million shares of the company at a price of up to Rs 810 per share, significantly more than the market expectation of Rs 650 per share.

Market participants, however, expressed dissatisfaction with the method the business will use to repurchase shares. Paytm announced that rather than using the considerably more popular tender process, it will buy back its shares on the open market.

Using a QIP, Macrotech Developers raises Rs 3,547 crore at a price of Rs 1,026 per share, and its stock increases.

On December 12, the real estate company Macrotech Developers announced that its board had approved funding Rs 3,547 crore through the issuance of roughly 7.2 percent shares to institutional investors at a price of Rs 1,026 per share. On December 7, the corporation started the Qualified Institutional Placement (QIP) of the equity shares.

Macrotech Developers, a company established in Mumbai, sells its apartments under the Lodha name.

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