Stocks in the news: Zomato, PNB, Macrotech Developers, Eveready, BOI and Hastun Agro

Zomato: The online food delivery platform said its board has approved granting a loan of up to $150 million (around Rs 1,145 crore) to digital grocery shopping player, Grofers India. The board has also approved acquisition of 16.66 per cent take in food robotics and automation firm, Mukunda Foods, for an aggregate cash consideration of rupee equivalent of $5 million, Zomato said in a regulatory filing.

Punjab National Bank: The PSU bank reported a fraud of Rs 2,060 crore in the m\non-performing account of IL&FS Tamil Nadu Power Company Ltd. The state-owned lender said that it made a provision of Rs 824 crore as per Reserve Bank of India’s prudential norms.

Macrotech Developers: The realty firm said its arm Lodha Developers International Ltd, Mauritius has prepaid USD 170 million (approx. Rs 1,298 crore) of debt after recording better sales performances in its two projects in London.

Eveready Ind: The Rs 604.76-crore open offer by the Burman group through various entities to acquire an additional 26 per cent in batteries and flashlights maker Eveready Industries India Ltd is slated to open on April 26, 2022, according to a regulatory filing by the company.

Hatsun Agro Product: Chairman and Managing Director Chandramogan R G on Tuesday bought company’s shares worth nearly Rs 25 crore through an open market transaction. According to the block deal data on NSE, he purchased 2.08 lakh shares at an average price of Rs 1,194 apiece.

Tata Motors: The company is planning to invest Rs 15,000 crore in the EV segment in the next five years, a top company official has said. The company, which is a leader in the newly emerging EV segment with offerings such as Nexon, is also planning to develop around 10 more new offerings in the segment, President for Passenger Vehicles Business of Tata Motors Shailesh Chandra said.

BOI: State-run Bank of India (BOI) on Tuesday said it has referred 3,20,116 cases amounting to Rs 5,700.16 crore to National Lok Adalat conducted on March 12, 2022. Of these, 12,224 cases were settled involving an amount of Rs 102.53 crore, the bank said in a release.

InterGlobe Aviation: IndiGo started flights between India and Thailand from Tuesday onwards after a span of two years, a statement said. Thailand is opening its borders nearly two years after it restricted entry for tourists in March 2020, the airline’s statement noted.

Future Retail: Director Rahul Garg has resigned from the board, a regulatory filing by the debt-ridden company said on Tuesday. “Rahul Garg, Non-Executive Director has resigned from the Board of Directors and other Committees of the Board with effect from 14th March, 2022,” said Future group firm.

Dredging Corporation of India: The company signed a contract with Cochin Shipyard for construction of Trailer Suction Hopper Dredger for 104 million euro.

Timex Group India: Watchmaker Timex Group India said its Managing Director Sharmila Sahai has resigned from her position and Deepak Chhabra has been appointed as the new MD. Chhabra’s appointment is with effect from March 28, 2022, Timex Group India said in a regulatory filing.

Bajaj Auto: Bajaj Auto Ltd on Tuesday said it has appointed Dinesh Thapar as its chief financial officer. Thapar joins Bajaj Auto from Reliance Retail where he was group chief financial officer for the past three years, the company said in a statement.