Business strategy

Archean Chemicals, Five Star, NDTV, Jet Airways, Zomato, and Others

Nifty futures on the Singapore Exchange traded 52.5 points, or 0.29 per cent lower at 18,295, signaling that Dalal Street was headed for a negative start on Monday.

Zomato

Mohit Gupta, co-founder, Zomato has tendered his resignation, an exchange filing showed. Gupta’s departure is the third top-level exit at Zomato this month. Earlier this month, Rahul Ganjoo, head of new initiatives at Zomato, had left the company. Siddharth Jhawar, who headed Zomato’s intercity food delivery service, left to lead Tiger Global-backed adtech unicorn Moloco’s India operations. Zomato on Saturday said that it will lay off under 3% of its workforce of around 3,800 people.

Archean Chemical Industries

The specialty chemical company will debut on the BSE and NSE on November 21. The issue price has been fixed at Rs 407 per share. The IPO was subscribed 32.23 times, with the QIB portion subscribed 48.91 times, non-institutional investors’ portion subscribed 14.9 times, and the retail portion subscribed 9.96 times.

Five Star Business Finance

The non-banking finance company will list its equity shares on the bourses on November 21. The issue price has been set at Rs 474 per share. The IPO was subscribed 0.7 times, with the QIB portion subscribed 1.77 times, non-institutional investors’ portion subscribed 0.61 times, and the retail portion subscribed 0.11 times.

ONGC

India’s largest oil and gas producer will this year reverse years of decline in production and gradually raise output thereafter as it invests billions of dollars to produce from newer discoveries, company’s management told investors in a call.

Adani Group NDTV

The Committee of Independent Directors (IDC) of New Delhi Television (NDTV) is of the opinion that the open offer price made by Adani Group to acquire a 26% stake in the media firm is “fair and reasonable”. The IDC also stated that following the announcement, the share prices of NDTV has been constantly trading “significantly” higher than the open offer price. The shareholders of the media firm should “independently evaluate the open offer and market performance and take informed decisions”, according to the committee.

Tata Motors

The BSE has decided to add Tata Motors in the S&P BSE Sensex index, in place of Dr Reddy’s Laboratories. Also, Adani Power and Indian Hotels Company will replace Adani Total Gas, and Hindustan Petroleum Corporation in the S&P BSE 100 and Sensex Next 50 indices. The changes will be effective from 19 December.

Jet Airways

The Jalan-Kalrock Consortium reiterated its commitment to restart the airline. CEO Sanjiv Kapor said letters of intent for aircraft, engines, IT systems, ground handling services, catering, call centre, and all other services required to run an airline are in place.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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