Stocks to Watch: Zee Entertainment, IDFC, Titan, Godrej Consumer, MTNL, HAL

Shares of state-run telecom firm MTNL will be in focus as the the government has deferred the merger of BSNL and MTNL due to financial reasons.

The benchmark indices are likely to start Thursday' session on a lower note amid weak global cues after hawkish FOMC meeting minutes read that the US Fed is likely to reduce its massive bond holdings at a maximum pace of $95 billion a month. At 7:40 am, the SGX Nifty futures were around 17,770 levels, hinting at a gap-down start of around 100 points on the Nifty50. 

Meanwhile, these are the stocks that may see market action today: 

Zee Entertainment: Invesco Developing Markets, the largest shareholder of the company, is selling 7.8 per cent stake worth Rs 2,200 crore in the entertainment major via block deals on Thursday. Invesco owns 18.8 per cent stake in Zee and has supported the merger between Zee and Sony Entertainment. Read more
 

MTNL: The government has deferred the merger of state-run telecom firms BSNL and MTNL due to financial reasons, Parliament was informed on Wednesday. Read here

Tata Motors: Tata Motors is actively considering tapping into some of the export markets beyond South Asia, for its range of electric vehicles (EVs) as it sees an opportunity of selling affordable EVs in markets outside India. Read more

Union Bank of India: The Bank on Wednesday said it will sell its 8 per cent stake in India SME Asset Reconstruction Company, which is the country's first ARC supported by a large number of public sector banks and undertakings, focussed on NPA resolution of the MSME sector. Read more 

HDFC Bank: The private sector lender on Monday said that it is looking to raise up to Rs 50,000 crore over the next one year through various instruments such as by issuing perpetual debt for additional tier I capital, tier II capital bonds, and long-term bonds for financing of infrastructure and affordable housing. Read here

Future Group: The Supreme Court (SC) on Wednesday lifted the stay on arbitral proceedings before Singapore International Arbitration Centre (SIAC) between Future Group and Amazon. The Bench also said that Future Retail’s plea for termination of proceedings before SIAC will also be heard on priority. Read more

Maruti Suzuki: The carmaker on Wednesday said it will increase prices of its entire model range this month amid rise in input costs. The automaker also said it is recalling 19,731 units of its Eeco van to rectify incorrect marking of wheel rim size. Read it here

IDFC Ltd: Bandhan Financial Holding-led consortium has entered into an agreement to acquire IDFC Asset Management Company and IDFC AMC Trustee Company for Rs 4,500 crore, from IDFC Ltd. Bandhan Financial Holding is the holding company of private sector lender Bandhan Bank. Read more 

Hindustan Aeronautics: The company announced on Wednesday the signing of a memorandum of understanding (MoU) with Israel Aerospace Industries (IAI) to convert civil passenger aircraft to “multi mission tanker transport” (MMTT) aircraft in India. Read here 

Godrej Consumer Products: The company said it expects to deliver close to double-digit sales growth in Q4FY22, driven entirely by pricing. Personal Care sustained its double-digit growth trajectory, primarily led by pricing in Personal Wash, while Home Care witnessed a soft performance on a high base, impacted by a relatively muted season for home insecticides and the discretionary nature of air fresheners. 
 

Titan Company: The company said its jewellery business in Q4FY22 declined by 4 per cent YoY, with addition of 16 stores during the quarter, but watches & wearables business registered 12 per cent growth YoY with addition of 34 stores. Its Eyecare segment reported 5 per cent growth YoY with addition of 51 stores during the quarter.

Asian Granito India: The company said its Rs 441 crore Rights issue will open for eligible shareholders on April 25. The company has fixed April 12 as 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.

Uma Exports: The company will make its debut on the bourses on April 7.

Motherson Sumi Systems: The company has completed acquisition of a 55 per cent stake in CIM Tools Private Limited, one of the leading suppliers in aerospace supply chain based in Bengaluru. CIM in turn holds 83 percent in Aero Treatment (ATPL) and 49.99 percent in Lauak CIM Aerospace (JV with Lauak International, LCA). The three founders, Srikanth GS, Umesh AS and Vishwanath Deshpande, retain the remaining 45 percent stake in CIM.