India Finance News

Stocks to Watch: SpiceJet, Dish TV, Zomato, GMR, Zee, Vodafone Idea | Mint – Mint

Here is the list of top 10 stocks that will be in focus today

SpiceJet: Low-cost carrier SpiceJet on Wednesday said the company’s Chief Financial Officer Sanjeev Taneja had resigned amid widening losses and an increase in in-flight incidents. The airline recorded a net loss of 789 crore for the first quarter ending 30 June, as compared with a loss of 729 crore in the year-ago period, as the carrier’s business was severely impacted by record high fuel prices and a depreciating Rupee. Total revenue for the quarter under review came at 2,478 crore, as against 1,266 crore in the same quarter of the previous year, SpiceJet said in a regulatory filing.

Dish TV India: Direct-to-Home operator Dish TV on Tuesday said its Chairman Jawahar Lal Goel will vacate his position at the company’s upcoming AGM on September 26, 2022. Goel, whose proposal for reappointment as Managing Director was rejected by the shareholders in an extraordinary meeting (EGM) held in June this year, has not reapplied for continuation as Chairman. In a regulatory filing Dish TV said:” Jawahar Lal Goel, Chairman and Non-Executive Director, shall vacate his office at the ensuing AGM on account of having expressed his unwillingness to offer himself for reappointment as a Director.”

Zomato: Online food delivery platform Zomato has decided to narrow its focus on three key areas of food ordering and delivery; supplies to restaurants through ‘Hyperpure’ and quick commerce, company Chairman Kaushik Dutta said on Tuesday. In his address to shareholders at the company’s annual general meeting, Dutta said the move was part of a strategy to focus “only on areas that have the potential to become meaningfully large businesses ten years from now”.

Zee Entertainment: A merger between the Indian unit of Japan’s Sony and Zee Entertainment to create a $10 billion TV enterprise will potentially hurt competition by having “unparalleled bargaining power”, the country’s antitrust watchdog found in an initial review, according to an official notice seen by Reuters. The Competition Commission of India’s (CCI) Aug. 3 notice to the two companies stated the watchdog is of the view that a further investigation is merited.

GMR Infrastructure: GMR Coal Resources Pte Ltd (GCRPL), a step-down subsidiary of GMR Power and Urban Infra Limited, has entered into definitive agreements to divest the 30% equity stake it holds in PT Golden Energy Mines Tbk (PT GEMS) to PT Radhika Jananta Raya for $420 million. On closing, GMR Coal Resources Pte Ltd will receive a gross consideration of $420 million

Vodafone Idea: Shareholders of Vodafone Idea have approved the elevation of the company’s chief financial officer Akshaya Moondra as the new chief executive officer, according to the voting result of the annual general meeting released on Tuesday. The company held its 27th AGM (annual general meeting) on Monday in which 99.75% of shareholders voted in favour of the special resolution to appoint “Akshaya Moondra as chief executive officer of the company”. Moondra’s appointment comes at a time when the company is reeling under debt of close to 2 lakh crore and has been incurring huge losses.

NTPC: NTPC has got shareholders’ approval to raise up to 12,000 crore through the issuance of non-convertible debentures on a private placement basis. The resolution was passed with the requisite majority in the annual general meeting held on Tuesday. The funds to be raised in one or more tranches (not exceeding 12) will be used for capital expenditure, working capital and general corporate purposes, as per the notice for the AGM.

Tata Steel: Tata Steel on Tuesday said it will invest more than 65 million euros for hydrogen-based steel manufacturing in the Netherlands. Hydrogen has the potential to decarbonise steel manufacturing. Tata Steel has inked pacts with three firms — McDermott, Danieli and Hatch — for the further technical preparations for hydrogen-based steel manufacturing in the Dutch city of Ijmuiden.

NDTV: Adani Group will launch its open offer on October 17 for acquiring an additional 26% stake in media firm NDTV. The open offer for acquiring 1.67 crore equity shares, for which a price of 294 per share has been fixed, will tentatively close on November 1, said an advertisement by JM Financial, which is managing the offer. If fully subscribed at a price of 294 per share, the open offer will amount to 492.81 crore.

Indiabulls Housing Finance: Indiabulls Housing Finance will raise up to 1,000 crore by floating bonds in a public issue scheduled to open on September 5. The securities issuance committee of the board of directors of the company, in a meeting held on August 29, 2022, approved the public issue of secured redeemable non-convertible debentures of a base issue size of 100 crore with an option to retain oversubscription up to 900 crore, the company said in a regulatory filing on Tuesday. The fundraising plan is within the shelf limit of 1,400 crore.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Exit mobile version