Stocks To Watch Jul 07 2021 • Titan Company: June quarter re | Value investing and swing trading(money markets academy)

Stocks To Watch
Jul 07 2021

• Titan Company: June quarter revenue grew by 117%. Jewellery unit sales grew by 107% on year primarily due to zero sales in April of last year. While most of the sales in May were lost in both the years, June numbers were marginally ahead of the year ago sales. Around 90%+ of jewellery stores are now open. The division added 5 Tanishq stores on a net basis in the quarter. The watches & wearables unit grew by about 280% in the quarter over year ago figures, and the eyewear division grew by 117% YoY as sales were nil in April 2020, the company said.
• Mahindra & Mahindra: To acquire up to 31.2% in ReNew Sunlight Energy Pvt Ltd. The company plans to acquire up to 1.61 crore shares in RSEPL, in one or more tranches, for Rs 16.07 crore. RSEPL will build, own, and operate solar power plant with 58 MWp capacity to generate around 100 million units a year and feed it into the Maharashtra State Electricity Distribution Grid. According to a pact between Mahindra and discoms, the company’s manufacturing plants in Maharashtra will consume the solar power generated.
• HDFC: The National Housing Bank has imposed a monetary penalty on Housing Development Finance Corporation Ltd of Rs 4.75 lakh for non-compliance with certain provisions.
• Sobha: Achieved total sales volume of 8.95 lakh square feet worth Rs 683 crore in quarter ended June. Total sales value up 40% year-on-year at Rs 682.9 crore Vs Rs 487.7 crore. Sobha share of sale value up 45% YoY at Rs 570.9 crore Vs Rs 393.1 crore. Total average price realization up 1.70% at Rs 762.6 crore Vs Rs 749.8 crore. Average cost of borrowing has further come down during the quarter. Further the company has planned new launches of 13.35 million square feet.
• NMDC: Offer for sale by government was subscribed 2.13 times of base size at a clearing price above the floor price by non-retail investors. The OFS received bids for 22.55 crore shares compared with 10.55 crore shares offered to the non-retail segment on the first day of sale. Bids received at indicative price of Rs 166.46 per share versus floor price of Rs 165. Government to exercise the green shoe option of selling additional 10.22 crore shares. Retail investors will get a chance to bid today.
• Coffee Day Enterprises: Defaulted on payment of interest/repayment of principal amount on loans from banks and unlisted debt securities worth Rs 280.54 crore
• Kotak Mahindra Bank: Kotak Securities Ltd, a subsidiary of the bank, has invested Rs 10 crore for a 9.96% in the total share capital of Kredent InfoEdge.
• Mastek: Appointed Hiral Chandrana as Global Chief Executive Officer of Mastek Group, with effect from July 6.
• Gillette India: Appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director of the company effective August 1. Kamath will replace Gagan Sawhney who has resigned from the post effective July 31.