Zomato, Axis Bank, Dr. Reddy's Laboratories, and Other Stocks to Keep an Eye on Today

Updated: Jul 17




The Singapore Exchange's Nifty futures traded 162.5 points, or 1.03 percent, higher at 15,863.50, indicating that Dalal Street will have a good Monday. In the most recent session, the market increased by almost 1% thanks to purchases of stocks in the automotive, FMCG, metal, banking, and financial services industries. The market was also bolstered by encouraging global cues. The Nifty50 increased 143 points to 15,699 and created a small-bodied bullish candle on the daily chart while the Sensex increased 462 points to 52,728. The index increased 2.6% throughout the week.


Zomato


The meal delivery business notified the markets that the board has approved the purchase of up to 33,018 equity shares of the fast commerce firm Blink Commerce (BCPL, previously Grofers India) for Rs 4,447.48 crore in an all-stock transaction. The purchase price per share is Rs 13,46,986.01. It claimed that this acquisition is consistent with its goal of making investments in the rapid commerce industry.


Dr. Reddy’s Laboratories

The pharmaceutical business stated that it had purchased Eton Pharma, a US-based manufacturer of branded and generic injectable products. For an initial cash payment of $5 million plus potential future payments of up to $45 million, it bought the Eton portfolio.


Tata Power


The largest floating solar power project in India, with a peak output of 101.6 Megawatts (MWp), has been put into operation in Kerala's backwaters, according to Tata Power Solar Systems, a division of the Tata Group's power company. In Kerala's Kayamkulam, the project is situated on a 350-acre body of water.

CSB Bank


According to the bank's BSE filing, the board chose Bhama Krishnamurthy to serve as the bank's temporary chairwoman. The Reserve Bank of India must approve this appointment before it may be made.


Hindustan Media Ventures

Sandeep Gulati has resigned from his position as the company's chief financial officer to seek possibilities outside of HT Group.


Welspun Corp


The company has received numerous orders totaling 47,000 MT and 600 crore rupees. These orders will be carried out in the oil & gas and water sectors from India and the US. Among them is a request for bends and onshore coated pipes for an Australian pipeline project.


SIS


The company announced that the board will convene on June 29 to discuss the proposal for the buyback of the company's equity shares.


Gufic Biosciences


ICRA has raised the company's short-term rating to A2 from A3+ and its long-term rating on its bank facilities to BBB+ from BBB with a stable outlook.


Axis Bank


Rajiv Anand has been reappointed as the deputy managing director of Axis Bank, with the Reserve Bank of India's approval. Three years will elapse during the reappointment.


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