Stocks in news: Zee Entertainment Enterprises, Coal India, Cadila Healthcare, Godrej Consumer and more

Indian benchmark indices are likely to open on a flat note today as SGX Nifty fell 13 points to 17,806 level amid mixed global cues.

Benchmark indices ended higher for the second consecutive session on September 5, powered by gains in index heavyweights Reliance Industries, TCS and Infosys amid a largely positive trend in global markets.

Sensex ended 445 points or 0.75 per cent higher at 59,744.88 and Nifty surged 131.05 points or 0.74 per cent to 17,822.30.

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

Zee Entertainment Enterprises: The National Company Law Tribunal (NCLT) on Tuesday directed Zee Entertainment Enterprises to submit reply on a petition filed by Invesco and OFI Global China by Thursday. The tribunal said the matter of the dispute is simple – whether the extraordinary general meeting (EGM) requisition is valid or not and it cannot give Zee Entertainment Enterprises “weeks and weeks” of time for filing its reply to the same.

“Orders cannot be passed with an opportunity of filing a counter… and we are of the view that minimum opportunity time should be given,” the tribunal, comprising Bhaskara Pantula Mohan and Narendra Kumar Bhola, said in an oral order.

Coal India: India’s coal ministry has asked state-run Coal India to diversify its interests to areas such as electric vehicles and charging stations, according to an agenda document on the ministry’s website.

“Coal India must diversify its business and must explore prospects in sunrise industries, electric charging pods, electric vehicles etc,” the coal ministry said in a document titled “Ministry of Coal’s agenda for 2021-22”.

Cadila Healthcare: Drug firm Cadila Healthcare on Tuesday said it has received permission from the Indian drug regulator for conducting phase III trials for its two-dose COVID-19 vaccine ZyCoV-D.

The company has already received the emergency use authorization (EUA) from the Drug Controller General of India (DCGI) for ZyCoV-D to be administered in three doses on August 20.

Godrej Consumer Products: FMCG major Godrej Consumer Products Ltd (GCPL) on Tuesday said it expects to deliver “high single-digit sales growth” on a consolidated basis in the July-September period.
During the quarter, demand trends in categories across the key countries it operates in remained steady, it added.

Marico: With reducing COVID-19 cases and accelerated vaccination drive leading to increased mobility levels driving up demand trends, FMCG major Marico on Tuesday said its revenue growth in the quarter ended September 30, 2021, was in “the low twenties”.

In a regulatory filing sharing update on the overall summary of the operating performance and demand trends witnessed in the quarter, Marico said it witnessed healthy consumer sentiment across categories in its India business.

Future Retail: The company said it has terminated its master franchise agreement with the Dallas, US-based convenience stores operator 7-Eleven.
The Kishore-Biyani led firm had signed the pact with 7-Eleven in 2019 for operating stores under the brand name in India.

Future Retail in a regulatory filing on Tuesday said it has terminated the Master Franchise Agreement entered into on February 28, 2019, which was executed between Future7-India Convenience Ltd, a wholly-owned subsidiary, and 7-Eleven Inc.

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