Stocks to watch, April 7: IT, pharma, metals, oil-sensitive stocks, Nykaa, Dr Reddy's, Delhivery, Trent Ltd, and more

At 07:52 AM, the GIFT NIFTY futures were trading at 22,110, down 221 points, or 0.99%. This implies that the NIFTY50 index will open 849 points lower.

The company received a show cause notice on April 4, 2025, from the office of the Assistant Commissioner of Income Tax, Hyderabad, Dr Reddy's Laboratories Ltd said in a regulatory filing.

In a regulatory filing, the company said it has "signed a definitive agreement to acquire a controlling stake in Ecom Express Ltd for a cash consideration of around ₹1,400 crore from its shareholders".

The company's board approved the "acquisition of shares equivalent to at least 99.4% of the issued and paid-up share capital, on a fully diluted basis, of Ecom Express Ltd for a purchase consideration not exceeding ₹1,407 crore."

The government is selling 1.14 crore equity shares, or a 2.83% stake, in Mazagon Dock Shipbuilders at a floor price of ₹2,525 per share. The offer for sale (OFS) has a greenshoe option to retain over-subscription of an additional 80.67 lakh shares or 2%. This takes the total issue size to 4.83%.

Bidding will open for retail buyers today.

For the fiscal year 2025, its consolidated revenue from operations rose 44% to ₹8,145.5 crore, as per a quarterly update filed by the company.

The growth in consolidated numbers is high due to the acquisition of a controlling stake in DP Eurasia NV, the exclusive master franchisee of the Domino's Pizza brand in Turkey, Azerbaijan, and Georgia, in the March quarter of FY24.

Violation of provisions on deduction of profession tax from the employees' salary under the Maharashtra State Tax on Professions, Trades, Callings & Employments Act, 1975, has been alleged against the company, it said in a regulatory filing.

Chandra has resigned with effect from April 5 "to pursue new opportunities and passions", Zomato stated in the filing on Saturday.

In his resignation letter addressed to Zomato founder and CEO Deepinder Goyal, Chandra wrote, "I am writing to resign as COO - Food Ordering & Delivery Business of Eternal Limited, effective April 7, 2025. After careful consideration, I have decided to pursue new opportunities and passions that align with my evolving personal and professional goal"s.

For the financial year that ended on March 31, 2025, Trent's standalone revenue rose 39% to ₹17,624 crore. It was at ₹12,669 crore a year ago in FY24.

Trent's standalone revenue for the year-ago period was at ₹3,381 crore, according to a regulatory filing from the company, which operates retail stores under the brand names Westside, Zudio, and Star.

The company's board has approved the issuance of commercial papers up to an amount not exceeding ₹600 crore in one or more tranches on a private placement basis, the company said in a regulatory filing.

Tata Steel said in a stock exchange filing that the assessment order came on March 31 this year, following a show cause notice issued on March 13 by the Assessing Officer, Office of the Deputy Commissioner of Income Tax, Circle 2(3)(1), Mumbai.

During the launch of a Made in India display-enabled soundbox, Paytm Founder and CEO Vijay Shekhar Sharma told PTI that the path to profitability will be driven by core business and new areas where the company is making investments.

In a regulatory filing, Godrej Properties said it has "agreed to the development of a prime land parcel in Versova, Mumbai".

This project is estimated to have a developable potential of 4.4 lakh square feet of saleable area, comprising primarily of premium residential development, with an estimated revenue potential of ₹1,350 crore.

The funds raised will be used for onwards lending, financing/refinancing the existing indebtedness of the company, and general corporate purposes, IIFL Finance said in a statement.

The issue will open on April 7, 2025, and close on April 23, 2025, it said.