Trending Stocks: Zee, Uma Exports, Titan, HDFC Bank and others in news today

Zee Entertainment Enterprises

Invesco Developing Market Funds will launch a block deal to sell a 7.8 % stake in the company on April 7 but will continue to hold the remaining 11 % stake. Invesco reaffirmed the belief that the Zee Sony deal has great potential.

Uma Exports 

The company will make its debut on the bourses on April 7.

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Union Bank

The transfer of 15 bad loan accounts worth Rs 50,000 crore to the National Asset Reconstruction Company could not be completed on time due to procedural delays, Union Bank of India Managing Director and CEO Rajkiran Rai G said on Wednesday, adding that the process would be completed by the end of April.

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Godrej Consumer Products 

In India, the company expects to deliver close to double-digit sales growth in Q4FY22, driven entirely by pricing. Personal Care sustained its double-digit growth trajectory, primarily led by pricing in Personal Wash, while 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. In Godrej Africa, the USA and the Middle East, it continued growth momentum across most of the key countries of operations and expects to deliver a constant currency sales growth close to the mid-teens.

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Maruti Suzuki India

The company is proactively and voluntarily recalling 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.

Motherson Sumi Systems

The company has completed the acquisition of a 55 % stake in CIM Tools Private Limited, one of the leading suppliers in the aerospace supply chain based in Bengaluru. CIM in turn holds 83% in Aero Treatment (ATPL) and 49.99% in Lauak CIM Aerospace (JV with Lauak International, LCA). The three founders, Srikanth GS, Umesh AS and Vishwanath Deshpande, retain the remaining 45% stake in CIM. Since the initial announcement in October 2021, CIM’s order book has grown 26% to $252 million.

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Equitas Small Finance Bank 

The bank has reported a 15% growth in its gross advances on a provisional basis to Rs 20,648 crore in Q4FY22 as compared to Rs 17,925 crore in the corresponding quarter of the previous year. Total deposits grew by 16% to Rs 18,951 crore as against Rs 16,392 crore in the quarter ended March 2021.

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IDFC 

IDFC and a consortium comprising Bandhan Financial Holdings, GIC and ChrysCapital have entered into a definitive agreement to acquire IDFC Asset Management Company and IDFC AMC Trustee Company, from IDFC, for Rs 4,500 crore. The company has declared an interim dividend of Re 1 per equity share.

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RBL Bank

The bank’s gross advances grew by 3% to Rs 61,929 crore in Q4FY22. The bank had recorded gross advances worth Rs 59,983 crore in Q4FY21. Retail advances declined 8% year on year but grew 1% sequentially. Wholesale advances surged 19% year-on-year and 6% on a quarter-on-quarter basis for the three months ended March 31, 2022. Total deposits during Q4FY22 (provisional) rose by 8 per cent to Rs 79,005 crore, as against Rs 73,121 crore in Q4FY21. 

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Asian Granito India 

The company in its BSE filing said its Rs 441 crore Rights issue will open for eligible shareholders on April 25. The company has fixed April 12 as the record date for the purpose of determining the equity shareholders eligible to receive the rights entitlement in the rights issue. The Rights Entitlement Ratio is 37:30. The company will offer 7 crore equity shares through this Rights issue.

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HDFC Bank 

The bank on Wednesday said it is planning to raise up to Rs 50,000 crore in the next year by issuing bonds on a private placement basis. The decision was taken at the bank’s board meeting. 

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Titan Company 

The company in a BSE filing said the jewellery business in Q4FY22 declined by 4 % YoY, with the addition of 16 stores during the quarter, but the watches & wearables business registered 12 % growth YoY with the addition of 34 stores. Its Eyecare segment reported 5 % growth YoY with the addition of 51 stores during the quarter.

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Bharat Petroleum Corp Ltd 

The company has bought 2 million barrels of Russian Urals for May loading from trader Trafigura.