Stocks to watch: Reliance, Titan, TVS Motor, Power Grid, Equitas SFB, FMCG



Actions to watch: Benchmarks Sensex and Nifty are expected to continue the gains from the previous session with a positive start on Thursday. As of 07:06, the SGX Nifty Futures was reading 15,989 levels, signaling a rise of around 33 points on the Nifty50.



Titan: Tata Group company Titan said on Wednesday its sales in the April-June quarter nearly tripled on an annual basis, helped by a low base from the Covid-19-hit quarter last year. Its network expansion and campaigns continued to progress well throughout Q1FY23, which was the undisturbed first quarter of the last three years. Read more

Piramale Companies: Piramal Enterprises, owned by Ajay Piramal, has received shareholder approval to spin off its pharmaceuticals business and simplify the corporate structure. The company received 99% of the votes at the general meeting of shareholders held on Tuesday, PEL said in a statement. Read here



Addiction: Reliance Retail has entered into a franchise agreement with Gap Inc to bring the American fashion brand to India. Gap will return to India for the second time after parting ways with Arvind Fashions in 2020. Reliance Retail will be the fashion house’s official retailer in India, blending exclusive stores and digital commerce platforms. Read more
FMCG: The edible oil industry has assured the government of a further reduction in retail prices of at least Rs 10-15 per liter over the coming weeks, trade sources said. The assurance was given during a meeting the industry had with senior Food Ministry officials on various issues concerning the edible oil industry. Read here

Syngene: After the controversy surrounding the Central Drugs Standards Control Organization (CDSCO) and Biocon Biologics emerged, another branch of the Biocon group, Syngene International, distanced itself from Bioinnovat Research Services, whose promoter was mentioned in the anti-graft case. The company recently terminated its mandate consulting contract with Bioinnovat. Read here

Tata Chemicals:The company will not set up an electric vehicle (EV) battery factory, Tata Group Chairman N Chandrasekaran said at the company’s eighty-third annual general meeting held virtually on Wednesday . Instead, the focus would be on expanding its current business for which the company would invest Rs 5,000 crore in capital expenditure (capex) over the next few years. Read more

Spice spray: The Directorate General of Civil Aviation (DGCA) on Wednesday issued a show cause notice to SpiceJet for its failure to establish “safe, efficient and reliable services”. The regulator has given SpiceJet three weeks to explain why action should not be taken against the airline. SpiceJet denied any violations on its part and said it was committed to ensuring safe operations. Read here

NTPC/ Gujarat Alkalis: NTPC Renewable Energy (NTPC REL), a wholly-owned subsidiary of NTPC, on Wednesday signed a memorandum of understanding with Gujarat Alkalies and Chemicals to collaborate in setting up the first green ammonia and green methanol projects in India. commercial scale in India.


Electrical network: The company’s board has approved a fundraising of up to Rs 11,000 crore.


IndusInd Bank: The bank announced a strategic partnership with MoEngage, the insight-driven customer engagement platform, to deliver a differentiated digital experience across multiple customer journeys.



TVS Motor Company: The company made a foray into the premium lifestyle segment by releasing the industry’s first “modern-retro” motorcycle, the TVS RONIN.




Chariots of Titagarh: HDFC Asset Management Company reportedly sold a 2.15% or 25.7 lakh stake in the company through open market transactions. With that, HDFC AMC reduced its stake in the company to 7.02% from 9.17% earlier.




Equitas Small Finance Bank: The small financial bank recorded 22% YoY growth in Q1FY23 gross advances to Rs 21,699 crore and sequential increase was 5%, while deposit growth was 19% YoY and 8% over a quarter to Rs 20,386 crore.




deep industries: The company has received an award letter from the ONGC, for the rental of 1000 HP mobile drilling rigs for the Ahmedabad asset for a period of 3 years. The total estimated value of the said rewards is $19.02 million or Rs 150.24 crore.




Bank of the municipal union: The bank said the board had approved raising additional capital via the QIP route in the amount of Rs 500 crore subject to shareholder approval.




East-West Fund: The company has entered into a share purchase agreement with Unique Airfreight Express and Logistics Private Limited. It will acquire a 37.5% stake in Unique Airfreight Express in the first tranche and the remaining 62.5% stake will be acquired within one year. The acquisition cost is Rs 4 crore.




PBA infrastructure: The company said its board had approved the voluntary delisting of the company’s shares from NSE, but the equity shares would remain to be listed on the BSE.




Veljan Denson: The company has signed a share purchase agreement to acquire a 100% stake in Adan Holdings, for 1.4 million euros. Aban has a stake in hydraulics and engineering companies in the UK. This acquisition will be finalized by August 2022.




Ethos: The company has signed an exclusive distribution agreement with world renowned watch and jewelry brand Jacob & Co. The partnership will unlock access to the brand’s unique collections for Ethos customers across India.



Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

About Frances R. Smith

Check Also

These are your favorite automotive urban legends

Photo: ping from San Francisco, USA, CC BY-SA 2.0, via Wikimedia Commons TLDR: Mercedes-Benz killed …