Stocks to watch: Titan, Dr Reddy's, Nelco, IOC, GIC Housing, Torrent Pharma

Stocks to watch today: Titan plans to add 20 to 30 Tanishq stores over two to three years in the Middle East and North America; Nelco inked pact with Intelsat to provide inflight connectivity services

Stocks to watch today: Markets are likely to open on a cheerful note on Friday amid positive global sentiments ahead of Jackson Hole symposium. As of 7:40 am, the SGX Nifty Futures quoted 17,685 levels, indicating a gap-up open of 163-odd points on the Nifty50.
 

Globally, investors remained undaunted in the US markets despite rate hike fears. Dow Jones climbed 300 points to close at 0.9 per cent, while the S&P 500 and NASDAQ Composite rose 1.4 and 1.6 per cent, respectively.
 

Asia-Pacific markets followed suit and inched higher in early trade. Nikkei 225, Hang Seng, S&P 200, Kospi surged up to 0.9 per cent.
 

Meanwhile, back home, here is a list of stocks that will see some action in trade on Friday:
 

Titan: The jewellery major plans to add 20 to 30 Tanishq stores over the next two to three years in the Middle East and North America. The company also expects higher sales by 15 to 20 per cent this year compared to last year as it is the first festive quarter without any covid-19 restrictions since 2019. The company also expects wearables and eyewear business growth momentum to continue. READ MORE

IOC: The oil firm plans to invest Rs 2 lakh crore to attain net-zero operational carbon emissions by 2046. The target set is in line with India’s aim to reach net-zero emissions by 2070. The investment will help mitigate emissions to 0.7 billion metric tonnes of carbon dioxide a year. The company plans to use natural gas in refineries in place of liquid fuels as well as replace grey hydrogen with green one. READ MORE

GIC Housing Finance: The company plans to raise up to Rs 2,500 crore via issuing bonds on a private placement basis to augment its capital resources. The housing financier will seek approval from shareholders on the capital raise plan in the upcoming annual general meeting (AGM) on September 23, 2022. READ MORE

Nelco: The satellite company Nelco inked a pact with Intelsat to provide inflight connectivity services. As part of the collaboration, Intelsat's airline partners and flyers will enjoy end-to-end broadband coverage on domestic and international aircraft flying to and from an Indian airport as well as the aircraft flying over the country. READ MORE

Eicher Motors: The company’s Chief Financial Officer and key Managerial Personnel Kaleeswaran Arunachalam has tendered his resignation and his last date would be September 2, 2022. The appointment of new CFO will take place in due course, meanwhile, Arunachalam plans to join Crompton Greaves as the new CFO. READ MORE

Dr Reddy’s: The pharma giant has received Establishment Inspection Report (EIR) from the USFDA for their formulations manufacturing facility in Srikakulam, Andhra Pradesh. In July, the company had received two observations in the form 483 following completion of pre-approval inspection. The US health regulator has concluded the inspection as closed.
 

Gland Pharma: The pharma company has received one observation in the form 483 from the US health regulator with respect to ANDA filed for the product to be manufactured. The move comes after the USFDA inspected the company’s Dundigal facility in Hyderabad.
 

J&K Bank: The state-run bank has appointed Rajesh Kumar Chhibber as Rotational Director on the board of the bank. Chhibber assumed the charge of Chairman and Managing Director of the Bank in June 2019 and continued at this position till December 2021. Besides being Director in the Bank, Chhibber does not hold directorship in any other public limited company.
 

Goa Carbon: The company has resumed operations of the Bilaspur, Chattisgarh unit after it was temporarily shut down for maintenance work. Alongside, the company’s Paradeep unit in Odisha was shut down as well due to maintenance work.
 

Torrent Pharma: Credit ratings agency ICRA has upgraded long-term credit rating of banking facilities and non-convertible debentures of the company to ‘stable’ from ‘positive’ on strong business position and scheduled repayment of debt. Besides, ICRA has reaffirmed its rating on commercial paper programme at ICRA Al+.