Daily Snippets – 17 August 2022

• The domestic equity benchmark closed with stellar gains.
• Softer inflation, declining commodity prices and consistent buying by FIIs supported the uptrend. Most global shares were negative ahead of the release of the US FOMC meeting minutes later today. PSU banks, media and IT shares were in demand. On the other hand, healthcare, realty and auto shares declined.

Capital Flows

News you could use

?Bharti Airtel gained 2.8%
The telecom major said that it has paid Rs 8,312.4 crore to the Department of Telecom (Government of India) towards dues for spectrum acquired in the recently concluded 5G auctions. As per the regulatory filing, Airtel has paid 4 years of 2022 spectrum dues upfront. The company believes that this upfront payment coupled with the moratorium on spectrum dues and AGR-related payments for four years will free up future cash flows and allow Airtel to dedicate resources to single-mindedly concentrate on the 5G rollout.

?Aarti Drugs rallied 10.79% as govt continues anti dumping duty on imports from China
The Directorate General of Trade Remedies (DGTR) has recommended continuation of anti-dumping duty on Ofloxacin imported from China. The company had earlier filed an application for anti-dumping duty on Ofloxacin and its intermediates imported from China.

?NTPC plans capex; stock price up 1.7%
The state-owned power firm floated a tender to raise Rs 5,000 crore term loan from financial institutions. As per the document, the bids can be submitted till 11 am on August 31. The minimum amount of loan offered by banks or FIs should be Rs 500 crore or in multiples of Rs 500 crore. The proceeds of the loan will be used for capital expenditure, refinancing of the loan and other corporate purposes.

News from the IPO world?

• Vikram Solar gets SEBI nod to mop-up funds via IPO.
• Concord Biotech files DRHP with SEBI for Rs. 2,000-2,500 crore IPO.
• Balaji Solutions files draft papers with SEBI to raise funds via IPO.

Numbers? that matter