Stocks to watch: NDTV, Dr.Reddy’s, IndiGo, SBI, Zee, consumer companies

Stocks to watch today: Major benchmarks look set to start on a high note by tracking smart gains in US markets, although fears of another rate hike remained elevated. At 06:45, SGX Nifty futures were quoted at 17,724, indicating a likely deviation of almost 100 points from the benchmark NSE this morning.

In the meantime, here’s a list of stocks likely to see action in trades on Thursday.

NDTV: According to a statement released by the company to ESB, Adani Group has made an open offer to acquire an additional 26% stake (16.76 million shares) at Rs 294 per share. The open offer will start on October 17 and end on November 1.

InterGlobe Aviation (IndiGo): IndiGo Airlines co-promoter Rakesh Gangwal is likely to sell up to 2.8% stake in parent company InterGlobe Aviation through block deals for around Rs 2,000 crore, sources have said. . READ MORE

Dr. Reddy’s Laboratories: The pharmaceutical major has launched lenalidomide capsules, a generic therapeutic equivalent version of the USFDA-approved REVLIMID (lenalidomide) capsules on the American market. With this limited volume launch, Dr. Reddy’s is eligible for first-to-market, 180 days of generic drug exclusivity for lenalidomide capsules in 2.5 mg and 20 mg strengths.

Dependency (RIL): The retail arm of the company – Reliance Retail wants to be “Atmanirbhar” by creating affordable indigenous products that can be scaled. A few days ago, the company surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. READ MORE

SBI: India’s largest lender, the State Bank of India, on Wednesday issued additional Tier 1 (AT1) bonds worth a total of Rs 6,872 crore at a cutoff of 7.75%, the lowest rate set for such debt issuances by a bank so far in the current financial year. READ MORE

Zee: The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday ordered Zee Entertainment to convene a meeting of shareholders on October 14 to approve the merger with Culver Max Entertainment (formerly Sony Pictures Network).

Consumer businesses: More than 2 years after the Covid outbreak, consumer companies are seeing strong festival sales. The festival season has already started in western and southern India with Ganesh Chaturthi and Onam respectively. READ MORE

Apollo tyres: There are some interesting structural changes in the tire industry. After eight years of stable achievements, achievements increased by 24% between fiscal years 2019-2020 and 2021-22. This should boost EBITDA and reduce capital expenditure as a percentage of revenue provided raw material costs come down. READ THE ANALYSIS

JSW Group: JSW Group, controlled by Sajjan Jindal, seeks to grow JSW One Platforms into an e-commerce giant for the building materials industry with a targeted gross market value (GMV) of $20 billion by FY32.

HDFC Bank: India’s largest private sector lender has raised its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps), effective September 7. This is the second rate hike in two months by the private sector lender after the six RBI Members Rate Setting Committee raised the benchmark repo rate by 50 basis points to 5 .40%.

Axis Bank: In its bid to boost lending to priority sectors, the bank has entered into a partnership with the PayNearby branchless banking network. READ MORE

Bucket Media & Technology Brand: The board of the company has approved the raising of up to Rs 33 crore through the issuance of 1 crore convertible stock warrants to non-promoters on a preferential basis at Rs 33 per warrant.

Stocks under F&O prohibition: Delta Corp is the only stock in the F&O ban on Thursday.

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