Stocks in news: HDFC Bank, Coffee Day, Godrej Consumer, Titan and more

The Indian equity market is likely to open in the red today as SGX Nifty was trading 111 points lower at 17,756. Indian equity market closed lower for the second consecutive session on Wednesday led by a sell-off in banking and IT stocks amid weak global trends. Sensex tumbled 566 points to end at 59,610.41. During the day, it fell 666.66 points or 1.10 per cent to 59,509.84.

IDFC: A consortium of Bandhan Financial Holdings Ltd, global investment firm GIC and private equity firm ChrysCapital has emerged as the winner to acquire IDFC Asset Management Company Ltd (IDFC AMC) and IDFC AMC Trustee Company Ltd from IDFC Ltd for a consideration of Rs 4,500 crore.

Zee Entertainment: Investment firm Invesco said three funds managed by its developing markets investment team, including Invesco Developing Markets Fund, will sell up to 7.8 per cent of the share capital of Zee Entertainment Enterprises Ltd (ZEEL) to align exposures to the firm with other funds managed by the team. Invesco, which is the single-largest shareholder in ZEEL, said after the proposed sale, the three funds managed by its developing markets investment team will continue to own in aggregate at least 11 per cent of ZEEL.

Maruti Suzuki: Country's leading automaker announced to "proactively and voluntarily" recall 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, the automaker said in a statement. In a routine inspection, Maruti Suzuki found that in some units of EECO, manufactured between 19th July 2021 and 5th October 2021, the wheel rim size was incorrectly marked. This issue has no implication on performance, safety or environment, the company added.

Titan Company: The firm said it finished the January-March quarter of fiscal year 2021-22 on a satisfactory note despite disruptions. However, its jewellery business reported a 4 per cent year-on-year (YoY) decline in revenue during the quarter.

HDFC Bank: The lender said it proposes to raise funds via debt, capital and long-term bonds up to Rs 50,000 crore over the period of next twelve months through private placement mode. "With reference to the Regulations, we wish to inform you that the Bank proposes to raise funds by issuing Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and LongTerm Bonds (Financing of Infrastructure and Affordable Housing) up to total amount of Rs. 50,000 crores over the period of next twelve months through private placement mode," HDFC Bank said in a regulatory filing.

Uma Exports: The company will make its debut on the bourses today.

Godrej Consumer Products: The company expects to clock close to double-digit sales growth in Q4FY22, driven entirely by pricing. In Godrej Africa, 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.

Motherson Sumi Systems: The company has completed the acquisition of a 55 percent stake in CIM Tools, one of the leading suppliers in the aerospace supply chain based in Bengaluru.

Asian Granito India: The company's rights issue worth Rs 441 crore 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.

Coffee Day Enterprises: The company has defaulted on Rs 479.68 crore repayment of loans and unlisted debt securities in the quarter ended March 31, 2022. The company said the delay in debt servicing is due to liquidity crisis.

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