Stocks To Watch: Zomato, Coal India, Axis Bank, Wipro, GAIL & More

Easy Trip Planners

In Indore, Madhya Pradesh, EaseMyTrip.com has announced the opening of its first offline retail store. The brand's steadfast dedication to providing effective customer service via both online and offline channels is demonstrated by the opening of its tenth location as part of its franchise model. With the new location, EaseMyTrip hopes to establish a relationship with its offline clientele who are looking for customised meet-and-greet experiences.

Coal India

In a memorandum of understanding (MoU) signed on Thursday, Coal India Limited (CIL) expressed its interest in purchasing 800 MW of power from "Mahanadi Basin Power Ltd" (MBPL), a fully owned subsidiary of Mahanadi Coal Fields Limited (MCL), from Haryana Power Purchase Centre (HPPC). Formalising and defining the fundamental framework of talks for the power purchase agreement is the aim of the memorandum of understanding.

GAIL India

At the 32nd World HRD Congress & Awards event, Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL (India) Limited, received the 'CEO with HR Orientation' award. According to a statement from the organisers, Shri Gupta was given the award for his business-related HR savviness and sensitivity, effective employee and communication, innovation in other HR disciplines and sectors, and change management. He has been a Director (Finance) on the Indian Oil Corporation Limited board since August 20, 2022, prior to joining GAIL in October 2022. For the years 2023-2025, Shri Gupta is also the chairman of the Standing Conference of Public Enterprises (SCOPE).

Wipro

Wipro and Wipro IT Services, LLC (step-down subsidiary) have acquired a 60% stake in Aggne Global IT Services Private Limited and Aggne Global Inc., respectively. The said transaction was completed on February 14, 2024, as per a stock exchange filing.

Eris Lifesciences

The completion of the Share Purchase and Shareholders' Agreement for the purchase of a 51% stake in Swiss Parenterals Limited has been authorised by the company's Board of Directors. Additionally, they approved the issue of 43,750 8% Secured Redeemable Non-Convertible Debentures on a private placement basis, against the equity shares of Swiss Parenterals Limited, with a face value of Rs. 1,00,000/- (Rupees One Lakh).

Axis Bank

In relation to the sale or acquisition of shares of Max Life Insurance Company Limited, Dr. Subramanian Swamy has filed a Public Interest Writ Petition before the High Court of Delhi against the Union of India, Axis Bank Limited, Axis Securities Limited, Axis Capital Limited, and others. All required regulatory clearances for these transactions have been received by Axis Bank. The bank said it will take required steps to defend against any unfounded allegations. According to Axis Bank, the allegations made against it in relation to the aforementioned transactions have no material impact.

Zomato

Zomato Malaysia Sdn. Bhd, a Malaysian step-down subsidiary of Zomato Limited, has commenced the liquidation procedure with effect from February 15, 2024. Furthermore, Zomato Malaysia does not currently operate any business operation, as stated in our red herring prospectus dated July 6, 2021 and July 19, 2021. It should be noted that Zomato Malaysia is not a major subsidiary of the company and that its dissolution would not have an impact on the company's revenue or turnover.

Lupin

The United States Food and Drug Administration (U.S. FDA) approved Ganirelix Acetate Injection, 250 mcg/0.5 mL, Single-Dose Prefilled Syringe, which was recently launched by global pharmaceutical giant Lupin Limited (Lupin). The reference listed drug (RLD), Ganirelix Acetate Injection, 250 mcg/0.5 mL of Organon USA LLC, is generically identical to Ganirelix Acetate Injection, 250 mcg/0.5 mL, Single-Dose Prefilled Syringe. It is recommended for women undergoing controlled ovarian hyperstimulation to prevent early spikes in luteinizing hormone (LH). According to IQVIA MAT December 2023, Ganirelix Acetate Injection's projected yearly sales in the United States were USD 87 million.