Indian benchmark indices are likely to open flat today as SGX Nifty fell 11 points to 16,328, amid weak global cues.
On August 18, Sensex snapped its four-day record breaking run amid mixed global cues. Sensex closed 162 points lower at 55,629 and Nifty dropped 45 points to 16,568.
During the day, Sensex scaled a lifetime high of 56,118 and Nifty touched a record of 16,701.
Here’s a look at stocks, which are likely to remain in news today.
Reliance Industries: RIL said on Wednesday that it is shutting down its Nagothane manufacturing division for a week to assure reliability and integrity of operations. The complex is expected to be back on track from August 25.
Product supplies will be undertaken from the current stock and from other manufacturing sites, it said.
Zomato: The Competition Commission of India (CCI) has approved the proposed investment by dood delivery platform Zomato in Grofers India Private Limited and Hands on Trades Private Limited on August 13, 2021, Zomato said in a statement today. Grofers International Pte is the holding company of Grofers India and HoT.
Zomato said with this approval, the company has now completed the acquisition of 9.16 per cent of shareholding on a fully diluted basis in GIPL for Rs 518.2 crore and 8.94 per cent of shareholding on fully-diluted basis in HOTPL for Rs 222.8 crore, with the an aggregate consideration of Rs 741 crore.
CarTrade Tech: Shares of CarTrade Tech will list on the bourses today. Founded in 2009, CarTrade is backed by Warburg Pincus, Temasek, JP Morgan and March Capital. It allows customers to buy and sell used cars as well as new cars.
The firm is a multi-channel auto platform with coverage and presence across vehicle types and value-added services through its brands — CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz.
Vodafone Idea: Vodafone Idea Ltd (VIL) on Thursday said it has paid licence fee dues for the first quarter of 2021-22. The comment came amid a report that the troubled telco — which is struggling to stay afloat — fell Rs 150 crore short on payment of licence fee for the June quarter.
“VIL has paid its licence fee dues for first quarter 2021-22,” a VIL spokesperson said in response to an email query by PTI.
Bharti Airtel: Telecom major Bharti Airtel on Thursday approached the Supreme Court with a review petition challenging an earlier order of the court which had disallowed rectification of “arithmetical errors” for the calculation of adjusted gross revenue (AGR) dues.
“Airtel filed its review petition in SC on Thursday,” conveyed a person aware of the development, according to The Economic Times.
Jet Airways: Jet Airways’ cabin crew and ground staff have challenged the Jalan Kalrock consortium’s resolution plan, which was approved by the National Company Law Tribunal (NCLT) in June, flagging concerns about pending salaries and retirement benefits. In their petition filed before the National Company Law Appellate Tribunal (NCLAT), the Jet Airways Cabin Crew Association and Bhartiya Kamgar Sena have submitted that dues of all workmen of the airline were not included as part of the Corporate Insolvency Resolution Process (CIRP) cost.
