Stocks to Watch on April 8: Equity markets started the new fiscal on a high as benchmark indices scaled fresh lifetime highs last week. In today’s trade, shares of Nestle India, Titan, Vodafone Idea, Wipro, Tata Steel will be in focus.
Healthcare: Shares of healthcare related firms likely to be in focus as Manipal Health Enterprises nears Rs 1,400 crore deal to acquire Medica. Post acquisition, Manipal will become India’s largest hospital chain with over 10,700 beds overtaking Apollo Hospitals in the process.
Biocon: The Kiran Mazumdar Shaw led firm, is leading the charge among Indian drugmakers, as they race to grab a slice of the obesity drugs market, as patents for the blockbuster medications start to expire.
Titan: The Tata group jeweller and watchmaker said its revenue grew 17 per cent in the March quarter, aided by strong demand for its jewelry products.
Adani Group: To invest Rs 2.3 trillion in renewable energy, manufacturing capacity through 2030.
Wipro: Srini Pallia who heads the company’s America-1 unit is likely to succeed Thierry Delaporte as the CEO. Wipro chose to bet on an insider who has grown through the ranks to lead the company.
ZEE Entertainment (Zee): Has proposed a new, streamlined management structure to the board to rationalise its workforce by 15 per cent. The firm did not give the number of layoffs.
Nestle India: Board has approved increasing royalty payment to its parent firm by 0.15 per cent annually for the next five years, thereby enhancing it to 5.25 per cent of net sales.
Vodafone Idea: The company’s board on Saturday approved issuance of up to 139.54 crore equity shares at Rs. 14.87 each, aggregating to Rs 2,075 crore to Oriana Investments. The Board also approved an increase in Authorised share capital of the company from Rs 75,000 crore to reference to Rs 1 lakh crore.
IDFC First Bank, LIC Housing Finance: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on IDFC First Bank, and Rs 49.70 lakh on LIC Housing Finance for non-compliance of certain regulatory measures.
United Breweries (UB): The Maharashtra State Goods & Service Tax Department has issued a tax demand of over Rs 263.70 crore, including interest and penalty, to the company.
Bandhan Bank: Chandra Shekhar Ghosh, Managing Director and Chief Executive Officer , of the bank said would retire after the completion of his current tenure on July 9. Ghosh has led the bank since July 10, 2015.
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