Stocks in Focus on January 8: Indiabulls Housing Finance, Biocon, Vodafone Idea, IDFC Ltd to Home First Finance IPO; here are the 5 Newsmakers of the Day

Domestic equity markets closed mildly lower on Thursday, January 7, 2021. The S&P BSE Sensex, fell 80.74 points or 0.17% at 48,093.32. The Nifty 50 index fell 8.90 points or 0.06% at 14,137.35. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday

Stocks that are likely to remain in focus today include Indiabulls Housing Finance, Biocon, Vodafone Idea and IDFC. Source: Reuters

Domestic equity markets closed mildly lower on Thursday, January 7, 2021. The S&P BSE Sensex, fell 80.74 points or 0.17% at 48,093.32. The Nifty 50 index fell 8.90 points or 0.06% at 14,137.35. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, January 8, 2021. List of such five stocks:

Indiabulls Housing Finance: Big investors like Apollo PE can buy stakes in Indiabulls Housing Finance at Rs 275-300 per share, sources informed Zee Business. Apollo PE is likely to sign an agreement with the company and the deal is likely to fetch around Rs 2,200-2,500 crore to the NBFC.

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As per the deal, the major PE firm is likely to get two seats on the board of IB Housing Finance. Promoters of the company are likely to provide around 4% share and 16% preferential allotment to the PE firm.

Biocon: Biocon Ltd has announced that the Board of its subsidiary Biocon Biologics Ltd has approved a primary equity investment by Abu Dhabi based ADQ (“ADQ”), one of the region’s largest holding companies. As per the terms of the proposed agreement, ADQ will invest Rs 555 Crore for a 1.80% minority stake in the biosimilar business, valuing Biocon Biologics at a post-money valuation of USD 4.17 billion. Post the completion of this transaction, Biocon Ltd will hold 89.89% stake in Biocon Biologics on a fully diluted basis.

Vodafone Idea (Vi): The telecom company has moved the Supreme Court seeking modification on its orders related to final adjusted gross revenue (AGR) dues of Rs 58,254 crore, which was calculated by the telecom department (DoT). Vi who has Vi has paid Rs 7,854 crore of the said dues has pointed out arithmetical errors in Dot's calculations. It has estimated the dues at Rs 21,533 crore. In the plea, Vi has cited errors like double counting and not a consideration of payments already made among others. Earlier, Bharti Airtel has also approached the apex court seeking a modification in its orders related to AGR dues.

IDFC Ltd: Abakkus Emerging Opportunities Fund-1 bought 1 crore shares at Rs 38.75 per share. Morgan Stanley Asia Singapore PTE bought 1.32 crore shares at Rs 38.75 per share. Avendus Absolute Return Fund bought 1.49 crore shares (0.94%) at Rs 38.75 per share. Sipadan Investments (Mauritius) sold 8.26 crore shares (5.18%) at Rs 38.76 per share.

Home First Finance IPO: Home First Finance Co (HFFC), a mortgage lender, is set to launch a Rs 1,200 crore initial public offering (IPO) in next four to eight weeks. It has plans to raise up to Rs 250 crore through the primary issue and up to Rs 800-1,000 crore through an offer for sale (OFS).

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