Stocks to watch: A downtrend in SGX Nifty50 futures hinted at a negative open for Indian benchmark indices on Thursday. The contract was 0.7 percent lower at 17,744.5 points as of 7:10 am. Stocks such as Uma Exports, Titan Company, Godrej Consumer Products, Zee Entertainment Enterprises, Coffee Day Enterprises and HDFC Bank among others will be closely watched today. Here is a list of stocks to watch today:
Uma Exports | The company will make its debut on the bourses today.
Godrej Consumer Products | In India, the company expects to deliver close to double-digit sales growth in Q4FY22, driven entirely by pricing. In Godrej Africa, USA and the Middle East, it continued growth momentum across most of the key countries of operations and expects to deliver a constant currency sales growth close to the mid-teens.
Motherson Sumi Systems | The company has completed the acquisition of a 55 percent stake in CIM Tools, one of the leading suppliers in the aerospace supply chain based in Bengaluru.
IDFC | IDFC and a consortium comprising Bandhan Financial Holdings, GIC and ChrysCapital have entered into a definitive agreement to acquire IDFC Asset Management Company and IDFC AMC Trustee Company, from IDFC, for Rs 4,500 crore. The company has declared an interim dividend of Re 1 per equity share.
Titan Company | The company's jewellery business in Q4FY22 declined by 4 percent YoY, with the addition of 16 stores during the quarter, but the watches & wearables business registered 12 percent growth YoY with the addition of 34 stores. Its Eyecare segment reported 5 percent growth YoY with the addition of 51 stores during the quarter.
HDFC Bank | The lender's board of directors will consider raising up to Rs 50,000 crore through bonds on April 16.
DCB Bank | Murali Natrajan has been reappointed as Managing Director & CEO for 2 more years from April 29 to April 28, 2024.
Zee Entertainment Enterprises | Invesco Developing Market Funds will launch a block deal to sell a 7.8 percent stake in the company on April 7 but will continue to hold the remaining 11 percent stake. Invesco reaffirmed the belief that the Zee-Sony deal has great potential.
Asian Granito India | The company's Rights issue worth Rs 441 crore will open for eligible shareholders on April 25. The company has fixed April 12 as the record date for the purpose of determining the equity shareholders eligible to receive the rights entitlement in the rights issue. The Rights Entitlement Ratio is 37:30. The company will offer 7 crore equity shares through this Rights issue.
Coffee Day Enterprises | The company has defaulted on Rs 479.68 crore repayment of loans and unlisted debt securities in the quarter ended March 31, 2022. The company said that the delay in debt servicing is due to Liquidity Crisis.