Stocks to watch: RIL, ZEEL, Sobha, Lupine, Nazar Tech, Titan, Inox Wind

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Shrewd futures on SGX rose 149 points to 17,777.50 around 8:45 am, indicating a start of a spread for benchmarks on Thursday. Here are the main actions to follow during today’s session:

RIL: A few days after the breakdown of its partnership with Future Group, Dallas-based 7-Eleven INc (SEI) signed an 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 deploy 7-Eleven stores in key neighborhoods and shopping areas, across the Greater Mumbai cluster to begin with.

ZEELZee Chairman Emeritus Subhash Chandra on Wednesday asked minority shareholder Invesco to make an open offer and take over the company if he wishes, saying the investment firm is operating underground. “Don’t be categorical in calling EGM,” Chandra said in an interaction with Zee News. Calling it “an illegal step taken by Invesco”, the senior media officer said: “This is insider trading and takeover.”

Macrotech Developers: The company reported 88% growth in sales bookings to Rs 2,003 crore for the September 2021 quarter. In the London business, Macrotech Developers achieved a sales booking of Rs 1450 crore in the September quarter .

Titan: Tata group company Titan said on Wednesday it saw a strong recovery in demand in the July-September quarter and that its sales in most of its divisions were at or near previous levels. the pandemic. In terms of turnover, in the jewelry segment, which represents a larger share of its turnover, it recorded a growth of 78% in Q2 FY22 compared to Q2 FY21. In watches and wearables, its sales increased by 73% compared to the July-September quarter of the previous fiscal year.

Nazara Technologies: Its board of directors has approved a preferential allocation of new shares worth Rs 315.30 crore to institutional investors.

Vent Inox: The board of directors has approved the issuance of preferred shares worth Rs 1,100 crore to its promoters. Decisions in this regard were made at a board meeting held on October 6 of this year, according to an ESB file.

Rossari Biotech: Largest maker of specialty textile chemicals Rossari Biotech, which enjoyed a successful IPO amid the first wave of the pandemic, expects to close fiscal year 22 with at least 50% growth both sales and net income thanks to growing demand and a substantial increase in prices which will help to increase margins.

Sobha: Bengaluru-based real estate company Sobha Ltd said on Wednesday it saw 49% growth in sales bookings to Rs 1,030.2 crore in the second quarter of this fiscal year on better housing demand . The company had sold properties worth Rs 689.9 crore during the period last year.

Lupine: The company has received interim approval from the US health regulator to market generic Brexpiprazole tablets, which are used with antidepressant drugs for the treatment of major depressive disorder, in the US market.

Amines of Balaji: The company’s demethylformamide plant will remain closed for two to three weeks. An incident occurred at the company’s Unit III demethylformamide plant which caused leaks / failures. While rectifying this, the company added debottlenecking activities to increase capacity.

Telecom actions: The government has reduced bank guarantee requirements for telecommunications operators by 80 percent.

Banks: Global rating agency Moody’s has changed the rating outlook for nine Indian banks from “stable” to “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: The promoters of the Srei group brought proceedings before the Bombay High Court against the action of the Reserve Bank of India against Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd. The promoters of the Srei group have requested the suspension of all insolvency proceedings against the two companies. The promoters of the Srei group, Adisri commercial private ltd, have filed a lawsuit in the Bombay High Court against the RBI’s action.

Vikas Nigam train: The company has entered into a memorandum of understanding with Braithwaite & Co. Limited. The consortium will use each other’s credentials and perform the same using each other’s expertise. The goal of this consortium will be to generate at least Rs 1,000 crore per year under this umbrella.


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