Stocks To Watch: Titan, Zee Entertainment, Nazara Tech, Lupin, Sobha, Ambuja Cements

India’s equity benchmarks closed lower on Wednesday, dragged by losses in metal, information technology, healthcare, auto and realty stocks, as surge in energy costs spurred inflation concerns. The S&P BSE Sensex Index shed 0.93%, the steepest single-day decline since July 19, to 59,189.73. The NSE Nifty 50 Index logged the most single-day loss decline since September 20 to 17,646.

Here are the stocks to watch in trade today:

• Zee Entertainment Enterprises: The founder of Zee Entertainment Enterprises Ltd., Subhash Chandra, has alleged that dissenting investors Invesco Developing Markets Fund and OFI Global China Fund LLC are trying to take over the firm he set up two decades ago, adding another twist in the public fight for board control of India’s largest listed TV network.

• Nazara Technologies: The company raised Rs 315 crore from marquee institutional investors. The funds will be utilised to invest in growth initiatives of the company as well as pursue strategic acquisitions in the various business verticals of the company including gamified learning, freemium, skill based real money gaming and esports.

• Lupin: Received tentative U.S. FDA approval for Brexpiprazole Tablets, a generic equivalent of Rexulti Tablets of Otsuka Pharmaceutical Co. The company will manufacture Brexpiprazole at its Pithampur facility in India.

• Titan Company: The company reported strong recovery in demand in Q2FY22. Jewellery business grew by 78% in Q2FY22 YoY and added 13 stores during the quarter, watches & wearables segment registered 73% YoY growth and eye wear business increased by 74% YoY in the same period.

• Sobha: New sales grew by 50.62% to 13.48 lakh square feet in Q2FY22 versus 8.91 lakh square feet in Q2FY21. Total sales value increased 49.32% to Rs 1,030.2 crore from Rs 689.9 crore in the same period. The company achieved best-ever quarterly sales volume of 13.5 lakh square feet of super built-up area. It also achieved best ever Sobha Share of sale value of Rs 854 crore. Average cost of borrowing has further come down during the quarter.

• Macrotech Developers: Second quarter pre-sales rise 88% year-on-year to Rs 2,003 crore. The company had pre-sales of £145 million (Rs 1,450 crore) in U.K. projects during the quarter. Collections up 73% YoY at Rs 1,912 crore. Net debt at India business fell to Rs 12,508 crore versus Rs 16,965 crore a year earlier. Plans to cut debt to about Rs 10,000 crore by March.

• Telecom stocks: Government has reduced bank guarantee requirements for telecom operators by 80%.

• Ambuja Cements: Life Insurance Corporation of India acquired 3.99 crore equity shares in the company via open market transactions, increasing shareholding to 6.12% from 4.11% earlier.

• Orissa Minerals Development Company: Life Insurance Corporation of India sold 1.24 lakh equity shares in the company via open market transactions, reducing shareholding to 9.08% from 11.16% earlier.

• NIIT: U.S.-based Sutherland, a leading global digital transformation company, and StackRoute, an NIIT Venture, have entered into a partnership to launch an immersive training program designed to identify the right talent and develop them as high-quality full stack IT professionals, handling critical roles at Sutherland.

• 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.

• PNB Housing Finance: The company has collaborated with CSC e-Governance Services India to provide last‐mile home loan facilities to individuals living in tier 2 and 3 cities.

Pledge Share Details

• Emami: Promoter Sneha Enclave revoked pledge of 13.50 lakh shares on October 1.

• HIL: Promoter Central India Industries revoked pledge of 1.70 lakh shares on October 1.

Bulk Deals

• Bharti Airtel (Rights Entitlement): Blackrock India Equities Fund (Mauritius) sold 25.50 lakh shares at Rs 207.67 per share.

Who’s Meeting Whom

• Heranba Industries: To meet Max Life Insurance Company on October 7.

Trading Tweaks

• Ex-Date Stock Split: Affle (India)

• Price Band Revised From 5% To 20%: RSWM, Nureca, NACL Industries

• Price Band Revised From 5% To 10%: Reliance Capital, Reliance Communications, Mindteck (India), Hindustan Construction Company, Future Lifestyle Fashions, Future Enterprises, Dhampur Sugar Mills, Coffee Day Enterprises

• Price Band Revised From 10% To 20%: Ruchi Soya Industries, Ujjivan Financial Services, Thomas Cook (India), Transport Corporation Of India, Suryoday Small Finance Bank, 5paisa Capital, VST Tillers Tractors, Future Retail, Reliance Industrial Infrastructure, PG Electroplast, Mahanagar Telephone Nigam, Lux Industries, KIOCL, Goldiam International, Future Enterprises, Dish Tv India

• Move Into Short-Term ASM Framework: Triveni Turbine

• Move Out Of Short-Term ASM Framework: Gujarat Alkalies and Chemicals, EIH, Meghmani Finechem, Max Ventures and Industries

• Move Into ASM Framework: Arvind Fashions, GHCL, Computer Age Management Services, Max Ventures and Industries