New Delhi: The share price of Zomato, Paytm, One 97 Communications, Delhivery, Gensol Engineering, and Hero MotoCorp expected to be in news on August 22, 2024, i.e., Thursday.
Zomato and One 97 Communications
Zomato confirmed that it will acquire Paytm’s entertainment ticketing business for Rs 2,048 crore. The fintech’s entertainment ticketing business covers movies, sports, and events (live performances).
The boards of the online food delivery platform and One 97 Communications Ltd (OCL) have given the green signal to the all-cash deal.
Delhivery
Venture capital firm Nexus Ventures Partners on August 21, 2024 sold 1.06 per cent shares in Delhivery for over Rs 344 crore through an open market transaction.
Nexus Ventures Partners made the deal possible through its affiliate Nexus Ventures III, which sold more than 78 lakh shares or 1.06 per cent stake in Delhivery through a bulk deal on the National Stock Exchange (NSE).
Gensol Engineering
Gensol Engineering confirmed securing a 16 megawatt rooftop solar project from a textile company in Madhya Pradesh. “Gensol Engineering… has received the Letter of Award (LOA) for execution of 16 MWp turnkey EPC rooftop solar project worth… from a leading textile company. This is a repeat order for Gensol, which will be installed in Madhya Pradesh and Gensol will commission the project in six months,” the company said in a statement.
Hero MotoCorp
Hero MotoCorp is planning to expand its scooter range and focus on the 125 cc bike segment, company’s CEO Niranjan Gupta said. The two-wheeler manufacturing company plans to launch both petrol and electric scooter trims.
“There will be action on the scooters front and action will be big on both ICE and EV side. The Destini full-body change will be unveiled very soon and then it will be followed by Xoom models – 125cc and 160cc – within this fiscal,” Gupta said in an analyst call.
Paytm
Paytm has proposed lower remuneration for board members and capped annual compensation at Rs 48 lakh. Ahead of its annual general meeting scheduled in September 2024, Paytm proposed reduced remuneration for board members. It said it is taking this step to maintain financial discipline and corporate governance.
As per the revised remuneration structure of Paytm, non-executive independent director’s annual compensation will be capped at Rs 48 lakh, with a fixed component of Rs 20 lakh.
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Stocks in News today: Zomato, Paytm, One 97 Communications, Delhivery, Gensol Engineering, and Hero MotoCorp are expected to remain in focus on August 22, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
