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Business News/ Markets / Stock Markets/  Stocks to Watch: Zee Entertainment, SpiceJet, Tata Steel, JSW Energy, HDFC Bank
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Stocks to Watch: Zee Entertainment, SpiceJet, Tata Steel, JSW Energy, HDFC Bank

Indian bourses will open after remaining closed on Wednesday and gaining around 2% on Tuesday. The markets are expected to remain volatile on Thursday as investors remain vigilant with regard to signs of an economic downturn.

Stocks to Watch for Thursday (Photo: Bloomberg)Premium
Stocks to Watch for Thursday (Photo: Bloomberg)

Here is the list of top 10 stocks that will be in focus today:

Zee Entertainment: The Competition Commission of India (CCI) on Tuesday said it had granted approval to the amalgamation of Zee Entertainment Enterprises Limited (ZEE) and two Sony group firms Bangla Entertainment Private Limited (BEPL) and Culver Max Entertainment Private Limited (CME), with certain modifications. The proposed combination is in the nature of acquisition and amalgamation falls under Section 5(a) and 5(c) of the Competition Act, 2002, it said.

JSW Energy: JSW Energy has signed an agreement with the Maharashtra government to set up a 960-megawatt hydro pump storage project in the Raigarh district of the state. Hydro pumped storage is a well-established technology that provides adequate peaking power reserves, reliable grid operation, energy balancing and storage capacity, JSW Energy said in a statement on Tuesday.

SpiceJet: The finance ministry has expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan under the scheme. The loan limit under the scheme has been raised to 1,500 crore from 400 crore to help the Covid-hit sector tide over the liquidity stress. Low-cost airline SpiceJet has welcomed the changes made in the Emergency Credit Line Guarantee Scheme (ECLGS) for the civil aviation sector but has asked the government to extend support on jet fuel as well.

Tata Steel: Tata Steel on Tuesday said it has offloaded 19% of its stake in AI Rimal Mining, Oman (AI Rimal) reducing its stake to 51 per cent from earlier 70%. This has reference to our disclosure dated May 9, 2019, with respect to the divestment of equity stake in Al Rimal Mining LLC, Oman (Al Rimal).

ONGC: State-run ONGC Videsh Ltd (OVL) is looking to invest around $1 billion in a Brazilian offshore hydrocarbon block and also raise its stake, a person aware of the development said, in the latest Indian effort to strengthen energy security. Brazil’s state-run Petroleo Brasileiro SA (Petrobras) operates the BM Seal-4 block with a 75% participating interest, while OVL holds the rest. It saw a major gas discovery in 2019 and is expected to start production after 2026. OVL’s stake in the block is expected to go up after the investment.

Hindustan Unilever: Hindustan Unilever Ltd (HUL) is racing to deliver household goods to grocery stores, halving the time it takes from receiving an order to delivering it in a single day, amid rising competition from online grocery wholesalers. In a pilot project in Chennai, parts of Maharashtra, and other states, the company’s on-ground sales team has been tasked with ensuring that products reach stores the next day instead of the day after, three people familiar with the development said.

Happiest Minds: IT services company, Happiest Minds Technologies, on Wednesday received the board of directors' approval for fundraising up to a whopping 1,400 crore. The fresh capital is likely to be raised through the issuance of securities in one or more tranches. It has the option of public, preferential or private placement for the issuance. The company will seek shareholders' approval for the same through a postal ballot.

Apollo Hospitals: Apollo Hospitals Enterprise Ltd on Wednesday said it has acquired a 60% stake in leading classical Ayurveda hospital chain AyurVAID for a consideration of 26.4 crore. The investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives, the healthcare major said in a regulatory filing. Beginning with a revenue estimate of over 15 crore for FY23 for AyurVaid, the target is to achieve 100 crore in the next three years, it added.

HDFC Bank: Private sector HDFC Bank on Tuesday said it has registered a 23.5 per cent rise in loans to 14.80 lakh crore in the second quarter of this fiscal. The credit book was 11.98 lakh crore as of September 30 last year. Gross transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew by around 25.8 per cent over September 30, 2021, HDFC Bank said in a regulatory filing.

Avenue Supermarts: Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, has reported a 35.75 per cent rise in standalone revenue from operations to 10,384.66 crore for the second quarter of the current fiscal. The company had revenue from operations of 7,649.64 crore in the year-ago period, according to a regulatory filing. "Standalone revenue from operations for the quarter ended September 30, 2022, stood at 10,384.66 crore," it said in the regulatory filing on Monday.

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Published: 06 Oct 2022, 07:29 AM IST
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