Tuesday, 28th December 2021

The impact of RBI appointing Yogesh Dayal to the board of RBL Bank was felt on Monday morning. The stock of RBL Bank slipped 20% and actually touched a 52-week low of Rs.130 during the day. There was relentless selling on the counter. A slew of brokers have downgraded the stock on concerns over the regulatory uncertainty created by the RBI move. Investors were expecting a repeat of the Yes Bank scenario. Both the RBI and RBL Bank tried their best to allay concerns, but markets were highly sceptical.

Rainbow Children Hospital, a multi-specialty paediatric hospital chain, will hit the primary market with an IPO of Rs.2,000 crore. This will include a fresh issue component of Rs.280 crore. The fresh issue proceeds will be used for early redemption of NCDs issued by the company as well as for capex towards setting up of new hospitals and purchase of medical equipment. Rainbow is backed by the CDC group of London. Rainbow started with its first hospital in Hyderabad and now runs 14 paediatric hospitals across 6 cities.

Navi Mutual Fund, backed by Sachin Bansal, plans to launch its second mutual fund, which will be an index fund benchmarked on the Nifty Next 50. It will have one of the lowest TERs of 0.12% and Navi focuses predominantly in the passive space. Navi MF has been filing several passive funds with SEBI and has also recently filed for a Blockchain fund. Navi also has an EV fund and a microcap fund. Till date, Navi launched a total of 19 new schemes so far in 2021. The focus of Navi is largely on a family of low-cost passive funds.

N Chandrasekaran outlined the 4 big focus areas of the Tata group for year 2022. The 4 focus themes will be Digital, New Energy, Supply Chain Resilience and Health. These are the areas that Tata Sons will focus on driving.  Tata group has been one of the big market cap gainers during the year with most of the front line stocks like TCS, Tata Steel, Titan, Tata Motors and Tata Consumer doing extremely well. Looking back at 2021, Chandra highlighted the successful acquisition of Air India as being the biggest milestone of 2021.

Capillary Technologies filed DRHP for its proposed Rs.850 crore IPO comprising of a fresh issue of Rs.200 crore and an offer for sale (OFS) of Rs.650 crore. The company is backed by Warburg Pincus and Sequoia Capital. Capillary offers artificial intelligence based cloud-native Software-as-a Solution (SaaS) products, to enhance the loyalty of consumers and channel partners. None of the PE investors plan to participate in the OFS. Fresh issue proceeds will be used for debt repayment, investing in products and inorganic growth. 

Mahindra Logistics, part of the Mahindra Group, announced its acquisition of 100% in Meru, the provider of structured travel solutions. The stake was acquired from the parent Mahindra & Mahindra Ltd. It is a strategic move to expand its business in the enterprise mobility space. Meru had revolutionised cab travel by offering AC cabs on call. Meru predominantly operates in the airport ride hailing segment and provides employee mobility services to corporates. Meru has a large EV fleet, which fits into M&M game plan.

Paras Defence has been selected by DRDO for handing over technology of border surveillance systems. The specific technology was developed by Instruments Research and Development Establishment (IRDE) and DRDO. With this transfer of technology agreement in place, Paras Defence will cater to the needs of the armed forces. Paras Defence has already been a multi-bagger, surging almost 300% over the IPO price. 

Paras designs, develops, manufactures and tests a wide range of defence and space engineering products.

Oil India is setting up a plant to manufacture green hydrogen at its Jorhat oilfield in Assam. This will add to the bouquet of clean energy offerings of Oil India. OIL will set up a 100 KW green hydrogen plant. It will generate green hydrogen using AEM technology for the first time in India. Green hydrogen is derived from water electrolysis using renewable energy sources like solar or wind. Government has already laid out the Hydrogen Roadmap for India. Under COP-21, India will reduce greenhouse gases by 33% over 2005 levels.

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