Stocks To Watch- HDFC, Vedanta, Aether Industries, Eros International, PNB Housing Finance, Landmark Cars

Stocks To Watch: HDFC, Vedanta, Aether Industries, Eros International, PNB Housing Finance, Landmark Cars

Stocks in focus: The SGX Nifty recorded a 0.05% loss during Friday’s early trading session, with a value of 18,822 indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Thursday, the benchmark indices had a volatile day of trade before closing in the red. Sensex hit a new high on open but quickly pared its gains to trade in the trade, settling 0.45% lower at 63,238.89. Nifty 50 gave up the 18,800 level to end at 18,771.25.

“The domestic market is currently witnessing increased volatility as it hovers around its historical peaks. This heightened volatility has also affected mid- and small-cap stocks, which have shown resilience. Moreover, the weak global indicators have had an impact on the domestic market, as they experienced declines following concerns of potential rate hikes, prompted by comments from the Fed chair regarding the fight against inflation,” said Vinod Nair, Head of Research at Geojit Financial Services.

Landmark Cars

TPG Capital is looking to exit its investments in auto retailer Landmark Cars by selling its about 11% stake through a block deal valued at about Rs 300 crore. The private equity firm would sell over 4.4 million shares on Friday, according to various media reports.

HDFC

HDFC divested its entire stake in Ruralshores Business Services, representing 9.65% of the paid-up share capital of Ruralshores. HDFC also offloaded its stake in HDFC Property Ventures and HDFC Venture Capital to Vividh Distributors for Rs 1.2 crore and Rs 30 lakh respectively. The lender bought a 3.86% stake in Bonito Designs and purchased 914 CCPs of Relata.

Vedanta

Vedanta claimed that media reports that stated the company is looking into the sale of the Sterlite Copper Plant in Thoothukudi are “wrong, baseless, and incorrect.”

Eros International Media

Eros International Media received an interim ex parte order from SEBI that said the financial results declared by Eros were impaired. Additionally, the regulator claimed that Eros had breached its regulations, and barred Sunil Lulla from holding any managerial position or directorial position in the company.

PNB Housing Finance

PNB Housing Finance’s board of directors approved issuance of non–convertible debentures in tranches aggregating up to Rs 5,000 Crore on a private placement basis.