Stocks in Focus on April 7: ZEEL, IDFC, Titan, Asian Granito, Maruti Suzuki and many more

The benchmark indices ended a volatile session with deep losses on Wednesday, April 6, 2022, as negative global cues triggered profit selling in large caps. The S&P BSE Sensex fell 566.09 points or 0.94% at 59,610.59. The Nifty 50 index shed 149.75 points or 0.83% at 17,807.75. HDFC and HDFC Bank corrected after recent steep gains triggered by the merger announcement. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, April 7, 2022. List of such Stocks:

Zee Entertainment: Invesco Developing Market Funds, reportedly, has decided to reduce its stake in Zee Entertainment Enterprises Ltd (ZEEL) via a block deal on April 7, 2022. Invesco, which currently holds a total of 17.88% in Zee Entertainment, will offload up to 7.8% of the equity in the price range of Rs 270-290 per share. After the deal, Invesco will retain an 11% stake in the company.

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IDFC Ltd+ Bandhan Bank: IDFC Ltd will sell its entire stake in IDFC Asset Management Company Ltd (IDFC AMC) and IDFC AMC Trustee Company Ltd to a consortium of Bandhan Financial Holdings Ltd, for a consideration of Rs 4,500 crore, subject to receipt of necessary regulatory approvals. The company got a dividend of Rs 250 crore from IDFC AMC in March 2022. The consortium includes Lathe Investment, Tangerine Investments, Infinity Partners and many more. Besides, the Board of Directors of IDFC Limited has also declared an Interim Dividend of Rs 1 per equity share of the Company. April 20, 2022, has been declared as the record date for the aforesaid Interim Dividend.

Q4 BUSINESS UPDATES  

Titan: The company in its Q4FY22 quarter business update said the jewellery division revenue declined by 4% (YoY) in the reported quarter while Watches & Wearables and Eyewear segments grew by 12% YoY and 5% YoY in the quarter, respectively. In addition, the company has added 105 (YoY) new stores in Q4FY22. The standalone revenue fell by 3% (YoY) in the quarter under consideration.

Godrej Consumer:  The company in its overall summary of the operating performance and demand trends during the quarter ended March 31, 2022, said the company expects to deliver close to double-digit sales growth, driven entirely by pricing in India. The company has witnessed a mixed performance in its Personal Care and Home Care categories. Personal Care sustained its double-digit growth trajectory, primarily led by pricing in Personal Wash. Home Care witnessed a soft performance on a high base, impacted by a relatively muted season for Home Insecticides and the discretionary nature of Air Fresheners. Its 2-year CAGR would be in the early twenties. The company expect strong double-digit constant currency sales growth in our Latin America business. Its SAARC business performance was soft.

Macrotech Developers: The realty state developer in its operational updates for 4QFY22 said the company had pre-sales of Rs 3,456 crore in India in the reported quarter, up 37% on a YoY basis despite the strong base of the previous year. Its UK investments had pre-sales of GBP 173 million (Rs 1,700+ crores) in the quarter. Its net debt for India's business has been reduced to Rs 9,310 crore. For FY22, the company has pre-sales of Rs 14,000 crore.

Rama Steel Tubes: The company in its Q4FY22 Sales Volume Performance said the company has registered the ever highest Q4FY22 sales volume of 35,872 tons (+50% YoY, 47% QoQ).

Stocks in News

Asian Granito: Asian Granito India Limited (AGL), one of the largest Luxury Surfaces and Bathware Solutions brands in the country is scheduled to open its Rs 441 crore rights issue on April 25, 2022. Shares under the Issue are offered at Rs 63 per Share i.e. 46.6% discount to the closing share price of Rs 118 per share on April 06, 2022, on NSE. The Issue will close on May 10, 2022. The Company will issue approximately 7 crores fully paid-up Equity Shares worth Rs 441 crore on a rights basis to eligible equity shareholders in the ratio of 37:30 (37 Equity Shares for every 30 Equity shares fully paid-up Equity Share held by the Eligible Equity Shareholders). The company has fixed April 12, 2022, as the record date to determine whether equity shareholders are entitled to receive the rights entitlement in the rights issue.

IGL: Hiked the price of compressed natural gas (CNG) by Rs 2.50 per kg in Delhi. 

Maruti Suzuki India Ltd: Announced to proactively and voluntarily recall 19,731 units of its EECO model. The recall is being undertaken to inspect and rectify ‘incorrect marking of wheel rim size’, if any, on the wheel in some of these vehicles. In a routine inspection, Maruti Suzuki found that in some units of EECO, manufactured between July 19, 2021, and October 5, 2021, the wheel rim size was incorrectly marked. This issue has no implication on performance, safety or the environment.

HDFC Bank Ltd: The Board of Directors of the Company is scheduled to meet on April 16, 2022, to consider and approve the raising of funds by issuing Perpetual Debt Instruments (part of Additional Tier I capital ), Tier II Capital Bonds and Long Term Bonds (Financing of Infrastructure and Affordable Housing) up to the total amount of Rs 50,000 crores over next twelve months through private placement mode.

Jet Airways: The airline company, reportedly, has plans to return with a hybrid of premium and no-frills services. It may get permission to operate this month and it would start operations by end of October 2022.

Block Deals 

Barbeque Nations  

Tama private limited sells 27.55 lakh shares at Rs 1,155 per share.
Pace private limited sells 29.92 lakh shares.
TNTBC, Trustee of Nomura India stock mother fund buys 4.37 lakh shares at Rs 1150 per share.
Motilal Oswal mutual fund buys 2 lakh shares at Rs 1155.71 per share.
BNP paribas arbitrage fund buys 2 lakh shares at Rs 1166.81 per share.
ICICI Prudential mutual funds buy 17 lakh shares at Rs 1175 per share.
Massachusetts Institute of technology buys 4.96 lakh shares at Rs 1175 per share.

Circuit filter revision  

Increased to 20% from 5% 

Andhra Petro
CG Power  
Steel Strips Wheels  
Ajmera Realty 
Network 18 
Monte Carlo 
BLS International

Increased to 10% from 5% 

Bajaj Hindustan
Goodricke
Lyka Labs
Mirc Electronics
Hind Rectifiers
Sakthi Sugars
Websol
Taneja Aerospace
Panacea Biotech
VIP Clothing
Zee Media
IRB Infra
Adani Transmission
Borosil Ltd

Increased to 20% from 10% 

MTNL
Golden Tobacco 
HSIL  
Kirloskar Brothers  
Manali Petrochemicals  
Borosil Renewables  
DCM Ltd              
Setco Automotive 
Talbros Automotive  
Indian Acrylics 
Butterfly Gandhimathi  
Praj Industries 
Aban Offshore 
Poonawalla Fincorp  
Patel Integrated 
GE Power  
Jaiprakash Associates  
Shree Renuka 
Godawari Power 
Tanla Platforms 
Dish TV  
Rattanindia Enterprises  
Arvind SmartSpaces  
Mahindra Logistics  
Khadim India 
Adani Green 
Solara Active 
Stove Kraft 
Laxmi Organic 
Nazara Technologies  
Tata Motors DVR