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Nifty futures on SGX were up 149 points at 17,777.50 around 8.45 am, indicating a gap-up start for the benchmark indices on Thursday. Here are the top stocks to track in today's session:
RIL: Days after breaking its partnership with Future Group, Dallas based 7-Eleven INc (SEI) signed and agreement with Reliance Retail Ventures to launch convenience stores in India. The first 7-Eleven store will open on Saturday in Andheri, Mumbai. In a statement, RRL said it will rollout 7-Eleven stores in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with.
ZEEL: Zee Chairman Emeritus Subhash Chandra on Wednesday asked minority shareholder Invesco to make an open offer and take over the company if it wants, saying the investment firm was acting in a clandestine manner. "Don't be adamant on calling EGM," Chandra said in an interaction with Zee News. Terming it as an "illegal step being taken by Invesco", the media doyen said, "This is insider trading, and a takeover."
Macrotech Developers: The company reported an 88 per cent growth in its sales bookings to Rs 2,003 crore for the September 2021 quarter. In London business, Macrotech Developers achieved a sales booking of Rs 1,450 crore in the September quarter.
Titan: Tata group firm Titan on Wednesday said it has witnessed a strong recovery in demand in the July-September quarter, and its sales in most of its divisions have either reached above or close to pre-pandemic levels. In terms of revenue, in the jewellery segment, which contributes a larger portion of its turnover, it has reported 78 per cent growth in Q2 FY22 compared to Q2 FY21. In watches and wearables, its revenue was up 73 per cent compared to the July-September quarter of the previous fiscal.
Nazara Technologies: Its board has approved a preferential allotment of fresh equity shares worth Rs 315.30 crore to institutional investors.
Inox Wind: The board has approved the issuance of preference shares worth Rs 1,100 crore to its promoters. The decisions in this regard were taken in a board meeting held on October 6 this year, according to a BSE filing.
Rossari Biotech: The largest textile specialty chemical manufacturer Rossari Biotech, which had a successful IPO amidst the first wave of the pandemic, is expecting to close FY'22 with at least 50 per cent growth in both topline and bottomline on the back of rising demand and a substantial price hike that will help boost margins.
Sobha: Bengaluru-based real estate firm Sobha Ltd on Wednesday said it has clocked 49 per cent growth in sales bookings at Rs 1,030.2 crore during the second quarter of this fiscal on better housing demand. The company had sold properties worth Rs 689.9 crore in the year-ago period.
Lupin: The company has received tentative nod from the US health regulator to market generic Brexpiprazole tablets, which are used with anti-depressant medicines for the treatment of major depressive disorder, in the American market.
Balaji Amines: The company’s demethylformamide plant will remain shut for two-three weeks. An incident took place at the company’s unit III demethylformamide plant which caused leakages/breakdown. While rectifying this the company added some debottlenecking activities to increase capacity.
Telecom stocks: Government has reduced bank guarantee requirements for telecom operators by 80 per cent.
Banks: Global ratings agency Moody's changed the rating outlook of nine Indian banks to "stable" from "negative". These lenders include Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Punjab National Bank, Export-Import Bank of India, State Bank of India (SBI) and Union Bank of India.
SREI Infra: Srei Group's promoters have moved Bombay High Court against Reserve Bank of India's action on Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd. Srei Group promoters have sought stay on any insolvency proceedings against the two companies. Srei Group promoters, Adisri commercial private ltd, has filed a writ petition in Bombay high court against the RBI action.
Rail Vikas Nigam: The company has entered into an memorandum of understanding with Braithwaite & Co. Limited. The consortium will utilize the credentials of each other and execute the same utilizing the expertise of each other. The aim of this consortium will be to generate at least Rs 1,000 crore business per year under this umbrella.
