Indian stock exchanges will open following a closed Wednesday and a gain of almost 2% on Tuesday. As investors continue to be on the lookout for indications of an economic slowdown, the markets are predicted to remain turbulent on Thursday.
The top 10 equities that are the focus of today’s attention are listed below:
Zee Entertainment: According to a statement released on Tuesday by the Competition Commission of India (CCI), the merger of Zee Entertainment Enterprises Limited (ZEE) and the two Sony Group companies Bangla Entertainment Private Limited (BEPL) and Culver Max Entertainment Private Limited (CME) has been approved subject to a few conditions. The Competition Act of 2002’s Sections 5(a) and 5(c) apply to the proposed combination because it is an acquisition and an amalgamation, respectively, according to the statement.
HDFC Bank: A private bank In the second quarter of this fiscal year, HDFC Bank reported a 23.5% increase in loans to a total of $14.80 lakh crore. As of September 30 of last year, the credit book was at 11.98 lakh crore. According to a regulatory filing from HDFC Bank, gross transfers through interbank participation certificates and rediscounted bills increased the bank’s advances by about 25.8% over September 30, 2021.
JSW Energy: JSW Energy’s Maharashtra hydro pumped storage project (PSP) would have a 960 MW capacity. JSW Neo Energy and the Maharashtra government have signed a memorandum of understanding for the construction of a hydro PSP with a 960 MW capacity. The business has obtained funding for 6 GW of hydro PSPs from various state governments thanks to this MoU.
Atul Auto: On October 8, Atul Auto may consider holding a fundraiser. According to the business, on October 8th, the board of directors will meet to discuss a proposal for collecting money through a rights or preferential issuance.
Sterlite Technologies: Sterlite Technologies has completed the sale of its share in Impact Data Solutions, a UK-based company. The corporation has sold all of its IDS UK stock. It had signed official documents in September 2022 to sell Hexatronic Group AB its interest in IDS UK (through its wholly-owned subsidiary).
Tata Steel: Tata Steel’s arm has completed the sale of Tanmia of a 19% share in AI Rimal. The company has finished selling Tanmia its 19% ownership investment in AI Rimal through its subsidiary T S Global Holdings Pte Ltd. As a result, its ownership of Al Rimal has dropped from 70% to 51%.
Godrej Consumer Products: For the second quarter, Godrej Consumer Products anticipates revenue growth above mid-single digits and an EBITDA decline in the mid-teens. The FMCG company anticipates more than mid-single-digit revenue growth on a consolidated basis. It anticipates sales growth ex-hygiene Indonesia’s comparator to be close to double-digits. Due to high cost materials, considerable upfront marketing investments to spur category development, and a poor performance in Indonesia, it anticipates an EBITDA reduction in the mid-teens. Although we anticipate a recovery in consumption, an increase of gross margins, and upfront marketing spending in the next quarters due to the considerable correction in commodities like crude oil and derivatives of palm oil.
Jubilant FoodWorks: The Jubilant FoodWorks arm has purchased a larger share in the Dutch company DP Eurasia NV. DP Eurasia NV, situated in the Netherlands, saw an increase in stake ownership by subsidiary Jubilant FoodWorks Netherlands BV. The company owned 49.04% of DP Eurasia NV as of October 3, which is the sole master franchisee for the Domino’s Pizza brand in Turkey, Russia, Azerbaijan, and Georgia.
NPR Finance: NPR Finance offers a Maharashtra-based wind generation plant. A wind generation plant owned by the firm in Dhule, Maharashtra, has been sold. Additionally, an agreement will be made in due course to sell the other wind turbine at Sangli, Maharashtra.
Trimurthi: Trimurthi has finished transferring its whole ownership of the subsidiary Trimurthi Pharmaceuticals. The corporation has finished transferring its whole ownership of the subsidiary Trimurthi Pharmaceuticals. Trimurthi Pharmaceuticals is no longer a subsidiary as a result.
