Stocks in News
Uma Exports: The company will make its debut on the bourses on April 7.
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, USA and Middle East, it continued growth momentum across most of key countries of operations and expects to deliver a constant currency sales growth close to the mid-teens.
Motherson Sumi Systems: The company has completed acquisition of a 55 percent stake in CIM Tools Private Limited, one of the leading suppliers in aerospace supply chain based in Bengaluru. CIM in turn holds 83 percent in Aero Treatment (ATPL) and 49.99 percent in Lauak CIM Aerospace (JV with Lauak International, LCA). The three founders, Srikanth GS, Umesh AS and Vishwanath Deshpande, retain the remaining 45 percent stake in CIM. Since the initial announcement in October 2021, CIM's order book has grown 26 percent to $252 million.
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.
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 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.
Titan Company: The company in a BSE filing said jewellery business in Q4FY22 declined by 4 percent YoY, with addition of 16 stores during the quarter, but watches & wearables business registered 12 percent growth YoY with addition of 34 stores. Its Eyecare segment reported 5 percent growth YoY with addition of 51 stores during the quarter.
Zee Entertainment Enterprises: Invesco Developing Market Funds will launch a block deal to sell 7.8 percent stake in the company on April 7, but will continue to hold remaining 11 percent stake. Invesco reaffirmed belief that Zee Sony deal has a great potential.
By: via @AlliesFin Serve Stock Market
