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Stocks in news: Zee Entertainment Enterprises, Tata Motors, Maruti Suzuki, HFCL and more

Stocks in news: Zee Entertainment Enterprises, Tata Motors, Maruti Suzuki, HFCL and more

On October 11, Sensex rose 77 points to end at a record closing high of 60,136 on Monday, tracking gains in index heavyweights HDFC Bank, ICICI Bank, and ITC. Nifty rose 50.75 points or 0.28 per cent to its all-time closing high of 17,945.95.

Stocks in news: Zee Entertainment Enterprises, Tata Motors, Maruti Suzuki, HFCL and more Stocks in news: Zee Entertainment Enterprises, Tata Motors, Maruti Suzuki, HFCL and more

Indian benchmark indices are likely to open lower amid weak global cues.

On October 11, Sensex rose 77 points to end at a record closing high of 60,136 on Monday, tracking gains in index heavyweights HDFC Bank, ICICI Bank, and ITC. Nifty rose 50.75 points or 0.28 per cent to its all-time closing high of 17,945.95.
 
The 30-share Sensex touched a new intraday high of 60,476.13 during the session, and the broader NSE Nifty touched a new peak of 18,041.95.

Here are the stocks that are likely to remain in focus today.

HFCL: The company posted a 61.18 per cent jump in its consolidated net profit to Rs 85.94 crore in the September quarter. The company had posted a profit of Rs 53.32 crore in the corresponding period a year ago.

The consolidated revenue of HFCL during the second quarter of FY22 increased by 6.42 per cent to Rs 1,122.05 crore from Rs 1,054.32 crore in the year-ago period.

Srei: The RBI on Monday said it has decided to retain the advisory committee of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL) to advise the administrator in the operations of the two Srei group companies during the corporate insolvency resolution process.

After superseding the boards of SIFL and SEFL last Monday, the Reserve Bank had appointed a three-member advisory committee to assist Rajneesh Sharma, administrator of the two crisis-ridden firms.

Zee Entertainment Enterprises Ltd: The company's largest shareholder, Invesco is seeking to rally around other non-promoter shareholders of the company for change of management, saying it is worried the firm''s deal with Sony will enrich the Chandra family at cost of shareholders.

In an open letter to Zee''s shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group''s board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors.

Tata Motors: The company reported a 24 per cent increase in group global wholesales, including that of Jaguar Land Rover (JLR), to 2,51,689 units in September quarter of FY22 over the year-ago period.

Global wholesales of all Tata Motors'' commercial vehicles and Tata Daewoo range in Q2FY22 were at 89,055 units, up 57 per cent over Q2FY21, Tata Motors said in a statement.

Global wholesales of all passenger vehicles in the September quarter of the current fiscal increased 11 per cent to 1,62,634 units over the corresponding quarter of the previous fiscal, it said.

Delta Corp: The company posted consolidated loss at Rs 22.57 crore in Q2FY22 against loss of Rs 54.91 crore in Q2FY21. Revenue from operations surged to Rs 74.72 crore from Rs 38.37 crore YoY.

Future group: The group firms are convening meetings of their respective shareholders and creditors in November to seek approval to their proposed merger into Future Enterprises as part of the 24,713-crore deal with Reliance Retail.

Several listed transferor firms including Future Retail, Future Consumer, Future Enterprises, Future Lifestyle Fashions, Future Markets Networks and Future Supply Chain Solutions - have informed their shareholders and creditors about the meetings which will take place on November 10 and 11.

Maruti Suzuki: The country's largest carmaker Maruti Suzuki"Production volume of the company in September 2021 was affected due to electronic components shortage," it noted.

In a regulatory filing, the auto major reported total production of 81,278 units in September as compared with 1,66,086 units in September 2020.