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Stocks in the News (19 Aug):
RIL – Announced on
Tuesday the acquisition of a majority equity stake in Chennai-based online
pharmacy delivery startup Netmeds (Vitalic Health Pvt. Ltd) for a cash
consideration of approximately Rs 620 crore. The acquisition gives RIL’s retail
unit Reliance Retail entry into a vertical e-commerce space, one of the few
that has soared during the COVID-19 pandemic, in addition to its online grocery
platform JioMart. Also this pits RIL directly against e-commerce giant Amazon
in a hotly contested space. The deal values Netmeds around Rs 1,000 crore.
Adani Ports and
Special Economic Zone – Promoter Gautam S Adani & Rajesh S Adani (on
behalf of SB Adani Family Trust) released 1,75,05,160 pledged shares of the
company and Adani Tradeline released 37,70,000 pledged shares.
Indiabulls Real
Estate – Embassy Group on Tuesday signed an agreement to merge its various
housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and
take control of the merged entity.
Zee Entertainment
posted a 95% drop in consolidated net profit at Rs 29.28 crore in Q1FY21 as
against Rs 529.76 crore in Q1FY20. The company’s board has approved the sale of
100% stakes held in four wholly-owned subsidiaries of the Company i.e. Zee
Unimedia, Zee Digital Convergence, India Webportal, and Zee Network
Distribution to another wholly-owned subsidiary Company i.e. Essel Vision
Productions (EVPL).
Dilip Buildcon received
a letter of acceptance (LOA) for a new project worth Rs 1,334.95 crore.
Ajanta Pharma – Promoter
Ravi Agrawal, Trustee Ravi Agrawal Trust has de-pledged additional 2,40,000
shares.
NIIT -Nippon Life
India Trustee through various schemes of Nippon India Mutual Fund raised stake
in company to 7.38% from 6.55% earlier.
Hindustan Aeronautics
reported Profit at Rs 1,226 crore for Q1FY21 versus Rs 1,238.9 crore for Q1FY20,
revenue at Rs 10,239 crore versus Rs 10,159 crore YoY.
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