Stocks In the News: Check out the companies making headlines before the opening bell.
IL&FS Transportation Networks | Company has entered into a Share Purchase Agreement (SPA) with Axis Trustee Services (as the trustee of Roadstar Infra Investment Trust and others) to sell 100 percent shareholding in subsidiary Sikar Bikaner Highways. The sale consideration is Rs 375.5 crore which will be received in the form of units of the Trust.
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 appointment of Sunil Bhagat as Chief Financial Officer of the company, in place of Hiren Padhya.
Zomato | The food delivery giant acquired 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 two 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.
Infosys | The board on April 13 will consider financial statements for the period ended March 2022 and dividend.
Dhampur Sugar Mills | The board on March 21 will consider payment of interim dividend for the financial year 2021-22. The record date for interim dividend will be March 31.
Shyam Metalics and Energy | The company announced 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 production lines, at new unit in Muzaffarnagar, Uttar Pradesh. The Muzaffarnagar unit has manufacturing facilities for production of kraft paper and duplex paper.
Ducon Infratechnologies | The board on March 22 will review the proposal to spin off non-core business to new proposed separate wholly owned subsidiary.
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.
A2Z Infra Engineering | Rajiv Chaturvedi has resigned as Chief Financial Officer of the company due to personal reasons.
Usha Martin | Promoter entity Peterhouse Investments sold 3 lakh shares in the company via open market transactions. With this, its shareholding in the company stands at 2.35 percent, down against 2.45 percent held earlier.
HUDCO | The board on March 22 will consider payment of interim dividend for the financial year 2021-22. The record date for payment of interim dividend will be March 30.
Dredging Corporation of India | The company on March 17 will sign a contract with Cochin Shipyard for construction of 12,000 cubic meter hopper capacity trailer suction hopper dredger for euro 104 million under Make in India program. The construction period is about three years.
Moneycontrol News
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