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Stocks in news: Zee Entertainment Enterprises, Titan, PNB Housing Finance, Nazara Technologies and more

Stocks in news: Zee Entertainment Enterprises, Titan, PNB Housing Finance, Nazara Technologies and more

On October 6, the benchmark indices closed lower amid a selloff in global markets. Sensex ended 555.15 points or 0.93 per cent lower at 59,189.73 and Nifty tumbled 176.30 points or 0.99 per cent to 17,646.

Stocks in news: Zee Entertainment Enterprises, Titan, PNB Housing Finance, Nazara Technologies and more Stocks in news: Zee Entertainment Enterprises, Titan, PNB Housing Finance, Nazara Technologies and more

Indian indices are likely to open higher amid positive global cues.

On October 6, the benchmark indices closed lower amid a selloff in global markets. Sensex ended 555.15 points or 0.93 per cent lower at 59,189.73 and Nifty tumbled 176.30 points or 0.99 per cent to 17,646.

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

Zee Entertainment Enterprises: The company moved to the National Company Law Appellate Tribunal (NCLAT) challenging the order of the Mumbai bench of the National Company Law Tribunal (NCLT) that asked the media major to respond Thursday on a plea filed by minority shareholders Invesco and OFI Global China Fund.

The petition pertains to a requisition of Invesco and OFI to convene an Extraordinary General Meeting (EGM) to discuss issues, comprising the removal of ZEEL's Managing Director Punit Goenka.

Titan: Tata group firm Titan said it has witnessed a strong recovery in demand in the July-September quarter, and its sales in most of its divisions have either reached above or close to pre-pandemic levels.

Most stores are now fully operational barring a few in select towns, having localised restrictions, with overall store operation days exceeding 90 per cent for the quarter, said Titan in its quarterly updates.

Srei: Within days of Reserve Bank of India superseding the boards of the group''s two non-banking finance companies, Srei group on Wednesday moved the Bombay High Court against the move.

Adisri Commercial Pvt Ltd has filed a writ petition against the RBI challenging the order and has also sought a stay on initiating insolvency proceedings against Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL).

PNB Housing Finance: The company announced that it has joined hands with CSC e-Governance Services India to provide last-mile home loan facilities to individuals living in tier 2 and 3 cities.

CSC e-Governance Services India Limited, a Special Purpose Vehicle, has been set up by the Ministry of Electronics and IT under the Companies Act, 1956, to oversee the implementation of the CSC scheme. It is a strategic cornerstone of the Digital India programme.

Nazara Technologies: The company said its board has approved a preferential allotment of fresh equity shares worth Rs 315.30 crore to institutional investors. The board has approved the "issuance of upto 14,29,266 equity shares of face value of Rs 4 each of the company, for cash, at an issue price of Rs 2,206 per equity share aggregating to Rs 315,29,60,796 to Gamnat Pte Ltd and Plutus Wealth Management LLP...on a preferential basis," it said in a regulatory filing. This is subject to the approval of shareholders and regulatory/statutory authorities, it added.

Tata Power: The company announced that it has roped in renewable energy AI (artificial intelligence) company BluWave-ai.

"Tata Power, India's largest integrated power utility, announced that it has signed a three-year commercial agreement with BluWave-ai, the world's first renewable energy AI company," it said in a statement.

(With inputs from PTI)