Subhash Chandra, Chairman at ZEEL on October 6, 2021 sought foreign investors Invesco Developing Market Funds to propose an open offer and even take over the establishment if desired.
Nifty futures on SGX were up 149 points at 17,777.50 on October 7, 2021 morning. Here are the stocks to watch on October 7, 2021:
RIL (Reliance Industries Limited)
Texas-based convenience stores Company, 7-Eleven Inc. signed an agreement with Reliance Retail Company to establish convenience stores in India. This happened after a few days of 7-Eleven terminating its partnership with Future Group. The first-ever 7-Eleven store is expected to be inaugurated on October 9, 2021, in Andheri, Mumbai. Reliance Retail Limited (RRL) disclosed in a statement that it will launch 7-Eleven stores mainly in neighborhoods that stand crucial as well as commercial areas across Mumbai.
ZEEL (Zee Entertainment Enterprise)
Subhash Chandra, Chairman at ZEEL on October 6, 2021 sought foreign investors Invesco Developing Market Funds to propose an open offer and even take over the establishment if desired. He said the shareholder was acting in a secretive manner and told not to be adamant on seeking EGM. Also, ZEEL moved to NCLAT seeking more time to reply to Invesco’s application after NCLT passed an order saying that it cannot give more time to the company to file its reply.
Bengaluru-based luxury products and a part of Tata Group Company, Titan shared that it has observed a significant recovery in demand in July to September quarter. In addition, the sales in the majority number of its divisions have also increased, witnessing noticeable growth. Also, the jewelry line of the company, which covers a major portion of its turnover, has observed a revenue growth of 78 percent in QZ financial year 2022.
The pharmaceutical company, Lupin Limited has got an unconfirmed green signal from the US health regulator in order to market generic Brexpiprazole tablets which are used with antidepressant medicines for treating depressive disorder in the US marketplace.
Real estate establishment headquartered in Bengaluru, Sobha Limited admitted on October 6, 2021, that it has witnessed growth of nearly 49 percent in sales bookings valued at Rs. 1,030.2 crore in Q2 of this fiscal.
Indian gaming and sports media company Nazara Technologies revealed that the company’s board has given a nod for preferential allotment of new equity shares worth Rs. 315.30 crore to the institutional investors.
Reportedly, the company has observed a substantial growth of 88 percent in the sales bookings valued at Rs. 2,003 crore for the September quarter of 2021. For its operations in London, the company accomplished a sales booking worth Rs. 1,450 crore in the September quarter.
An Indian wind energy company, Inox Wind disclosed that the company’s board has given its nod for the preferential share issuance valuing Rs. 1,100 crore to its existing promoters after it was decided in a recent board meeting summoned on October 6, 2021.
Chemical manufacturing establishment Balaji Amines was in talks disclosing that the company’s dimethylformamide plant is expected to remain shut for upcoming two to three weeks. It took place post the leakage and breakdown of a unit of the plant.
The main company’s promoters moved to Bombay High Court against RBI (Reserve Bank of India)’s action on two of its subsidiaries including Srei Infrastructure Finance Limited and Srei Equipment Finance Limited. The promoters had proposed a stay on the insolvency-based proceedings against both the companies.