Stocks in News
One 97 Communications (Paytm): Munish Ravinder Varma resigned as non-executive, non-independent director of the company due to personal commitments and other pre-occupations.
Infibeam Avenues: The board has approved the appointment of Sunil Bhagat as Chief Financial Officer of the company, in place of Hiren Padhya.
Zomato: The food delivery giant acquired a 16.66 percent stake in Mukunda Foods Private Limited, a food robotics company, for cash consideration of $5 million. The board also approved a loan of up to $150 million to Grofers India in one or more tranches. The loan to Grofers is in line with its stated intent of investing up to $400 million cash in quick commerce in India over the next 2 years.
EKI Energy Services: The firm is in advanced discussions with some of the European oil and gas majors, to launch an initiative to supply free improved cook stoves to rural households to reduce carbon footprint and generate carbon offsets.
Shyam Metalics and Energy: The company announced a fresh round of Rs 990 crore capital expenditure plans to further expand the capacity by 2.85 MTPA. This capital expenditure will be over and above the ongoing capital expenditure expansion of Rs 3,000 crore.
Genus Paper & Boards: The company has successfully commenced production of duplex paper from one of the production lines at a new unit in Muzaffarnagar, Uttar Pradesh. The Muzaffarnagar unit has manufacturing facilities for the production of kraft paper and duplex paper.
ITC: The company has acquired 1,040 compulsorily convertible preference shares of Rs 10 each of Mother Sparsh Baby Care. With this, its shareholding in Mother Sparsh stands at 16 percent.
By: via @AlliesFin Serve Stock Market
