Stocks to watch: Titan, Britannia, Dabur, Nykaa, NTPC, HFCL

TitanTata group company Titan on Thursday said its total sales grew 18 per cent year-on-year in the September quarter. The company, which operates in segments as jewellery, watches and wearables, and eyecare, has seen “healthy double-digit growth across most businesses,” according to the quarterly update. Titan added 105 stores to its retail network in the second quarter of the current financial year. “The company saw healthy double-digit growth across most businesses, with total sales up 18 percent year over year,” Titan said.

Britannia IndustriesBakery foods company Britannia Industries has acquired a controlling stake in Kenya-based Canafric Biscuits, a move that will help the company establish a manufacturing base and expand sales in African markets. Britannia & Associates (Dubai) Private Company Limited (BADCO), a wholly owned subsidiary of Britannia, has acquired a 51% equity stake in Canafric Biscuit Limited (KBL) for a cash consideration of 13.87 crore Kenyan Shillings. 9.2 crore), said a regulatory filing by the company.

Dabur IndiaConsumer goods major Dabur India today indicated that rising inflation could reduce its operating margin by around 150-200 basis points year-on-year during the second quarter. “During the quarter, inflation was at peak levels, which impacted gross margins,” Dabur said in a regulatory filing while sharing an update on the performance and demand trends observed during the quarter ended September 30, 2022. Reported earnings for the company are due for the second quarter ended September 26th.

FSN E-Commerce VenturesIndian cosmetics and fashion retailer Nykaa has signed an alliance with Apparel Group, a Dubai-based fashion and lifestyle retail conglomerate. The companies said the alliance has been made to expand business in the Gulf countries. Nykaa Chief Executive Falguni Nair said that the two companies will together build a multi-brand beauty retail business in Gulf Cooperation Council countries, namely the State of Bahrain, the Kingdom of Kuwait, the Sultanate of Oman, the Kingdom of Qatar, the Kingdom of Saudi Arabia and the UAE.

ques corp: HR solutions company Quess Corp Ltd., a digital risk and compliance services company, will sell its stake in Simpliance Technologies Pvt Ltd (Simplions) to Aparajita Corporate Services (Aparajita), an HR compliance services company and its affiliates. Value of deal is at enterprise value 120 crores, on cash and debt-free basis, subject to closing adjustments and fulfillment of conditions laid down in the transaction document.

NTPCState-owned NTPC has joined hands with GE Gas Power to help reduce carbon emissions at its 645 MW Kawas gas power plant in Gujarat. Both the companies have signed a Memorandum of Understanding (MoU) in this regard. “The MoU is to demonstrate the feasibility of co-firing mixed hydrogen (H2) with natural gas in GE’s 9E gas turbines installed at NTPC’s Kawas combined-cycle gas power plant in Gujarat … and NTPC’s installed units in India. In a large-scale implementation, GE Gas Power said in a statement.

HFCLHome telecommunications equipment maker HFCL has partnered with Qualcomm Technologies to design and develop 5G outdoor small cell products. Continuing its 5G strategy, HFCL’s investment in 5G outdoor small cell products will enable faster rollout of 5G networks, improved 5G user experience and more efficient use of 5G spectrum, the company said in a statement.

IRCON InternationalParag Verma has assumed charge as Director (Works) of Ircon International Limited, a Miniratna Public Sector Enterprise, with effect from September 21, the company said in a statement. Ircon International is a turnkey construction company engaged in Railway, Highway and Extra High Tension Substation Engineering and Construction. With over 31 years of experience in infrastructure works in India and abroad, Verma’s primary areas of expertise include planning, estimating, conceptualizing, structuring and executing infrastructure projects.

Yes BankThe Reserve Bank of India has approved the appointment of Prashant Kumar as the MD and CEO of Yes Bank for a period of three years with effect from October 6, 2022. Earlier this year, the alternate board of the private sector lender recommended the reserve. With the approval of Bank of India, Kumar was appointed as the Managing Director and Chief Executive Officer (MD & CEO) of the Bank for a period of three years.

HCL TechIT company HCL Tech plans to train 18,000 technology and consulting professionals on Google Cloud to enhance their ability to accelerate digital transformations globally with Google Cloud infrastructure, products and solutions, the company said on Thursday. Said to HCL Tech has been a strategic partner of Google Cloud and created a dedicated Google Cloud Ecosystem unit in 2019 to accelerate enterprise cloud adoption in enterprises.