Trending Stocks: Zomato, Dr Reddy’s, Axis Bank and others in news today

Zomato

The online food-delivery giant informed exchanges that the
company board had approved the acquisitions of up to 33,018 equity shares of
quick commerce company Blink Commerce (BPCL, formerly Grofers India) for Rs
4,447.48 crore in an all-stock deal. The acquisition is at a price of Rs 13,46,986.01
per share. The acquisition is a part of its strategy of investing in the quick
commerce, it said.

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Dr Reddy’s Laboratories

The pharmaceutical company announced the acquisition of
branded and generic injectable product segment of US-based Eton Pharma. It
bought the Eton portfolio for an upfront payment of $5 million in cash plus
contingent payment of up to $45 million.

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Axis Bank

The Reserve Bank of India (RBI) has approved the
re-appointment of Rajiv Anand as the deputy managing director of the lender.
The re-appointment will be for a period of three years.

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Hindustan Copper

The company board will meet on June 30, 2022 to consider a
proposal to raise to Rs 500 crore by issuing debentures. The board will also
consider raising funds through a qualified institutional placement method.

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Welspun Corp

The company has bagged several orders of around 47,000 MT
amounting to Rs 600 crore. These orders will be executed from India and the US
across the oil & gas and water sector. These include an order for the supply
of onshore coated pipes and bends for a pipeline project in Australia.

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CSB Bank

The board has appointed Bhama Krishnamurthy as the
part-time chairperson of the bank, it said in a BSE filing. The appointment is
subject to the approval of the Reserve bank of India.

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Hindustan Media Ventures

Sandeep Gulati has resigned from the position of Chief
Financial Officer (CFO) of the company to pursue opportunities outside HT Group.

SIS

The company board will meet on June 29, 2022 to decide on the
proposal for the buyback of the equity shares of the company.

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Gufic Biosciences

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