The Singapore Exchange’s Nifty futures traded 52.5 points, or 0.29 percent, lower at 18,295 to indicate Dalal Street will have a bad start to the week.
Co-founder of Zomato Mohit Gupta has submitted his resignation, according to an exchange filing. The resignation of Gupta marks Zomato’s third top-level departure this month. Rahul Ganjoo, the head of new initiatives at Zomato, had left the organisation earlier this month. Siddharth Jhawar, who oversaw Zomato’s intercity food delivery service, left to oversee Moloco’s operations in India, an adtech unicorn backed by Tiger Global. Zomato announced on Saturday that it will let go of less than 3% of its 3,800-person workforce.
Archean Chemical Industries
On November 21, the specialised chemical company will make its BSE and NSE debut. At Rs. 407 per share, the issue price has been established. The IPO received 32.23 times as many subscriptions as the QIB component, 48.91 times as many subscriptions as non-institutional investors, and 9.96 times as many subscriptions as individual investors.
Five Star Business Finance
On November 21, the non-banking finance company will float its equity shares on the stock exchanges. The share price for the offering has been set at Rs 474. The QIB portion of the IPO was subscribed 1.77 times, the piece for non-institutional investors was subscribed 0.61 times, and the portion for retail investors was subscribed 0.11 times.
ONGC
The company’s management informed investors on a conference call that the country’s largest oil and gas producer will this year reverse years of production decline and progressively increase output going forward as it invests billions to produce from newer discoveries.
Adani Group NDTV
The open offer price made by Adani Group to purchase a 26% stake in the media company is considered “fair and reasonable” by the Committee of Independent Directors (IDC) of New Delhi Television (NDTV). According to the IDC, NDTV share prices have been consistently trading “substantially” above the open offer price since the announcement. The committee recommended that the media company’s shareholders “independently evaluate the open offer and market performance and make wise decisions.”
Tata Motors
Tata Motors will replace Dr. Reddy’s Laboratories in the S&P BSE Sensex index, according to the BSE. In the S&P BSE 100 and Sensex Next 50 indices, Adani Power and Indian Hotels Company will take the place of Adani Total Gas and Hindustan Petroleum Corporation. The modifications take effect on December 19th.
Jet Airways
Jalan-Kalrock Consortium reaffirmed their dedication to relaunching the airline. Letters of intent are already in place, according to CEO Sanjiv Kapor, for all the services needed to operate an airline, including those for engines, ground operations, catering, call centres, and IT systems.
