Buzzing stocks.Stocks that will see action today: May 13, 2024

Zomato on Sunday said the auditor of its subsidiaries Zomato Hyperpure and Blink Commerce has resigned with immediate effect, paving the way for the food tech platform’s auditor Deloitte Haskins & Sells to be appointed in its place to make the audit process more efficient. Batliboi & Associates, who was appointed as statutory auditors of the two wholly-owned subsidiaries for five years beginning April 1, 2023, till the conclusion of the 13th AGM, resigned w.e.f. May 12, 2024, Zomato said in a regulatory filing.

Zomato on Sunday said the auditor of its subsidiaries Zomato Hyperpure and Blink Commerce has resigned with immediate effect, paving the way for the food tech platform’s auditor Deloitte Haskins & Sells to be appointed in its place to make the audit process more efficient. Batliboi & Associates, who was appointed as statutory auditors of the two wholly-owned subsidiaries for five years beginning April 1, 2023, till the conclusion of the 13th AGM, resigned w.e.f. May 12, 2024, Zomato said in a regulatory filing.

Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. IIHL stands committed to working towards obtaining the same as soon as possible and aims to close this transaction by the NCLT’s stipulated date of May 27, the spokesperson said. IRDAI approval is crucial for the transfer of insurance businesses of Reliance Capital i.e. Reliance General Insurance and Reliance Nippon Life Insurance, to the IIHL. Reliance Capital is one of the promoters of Reliance General Insurance and Reliance Nippon Life Insurance.

Market regualtor SEBI has prohibited Varanium Cloud, its promoter and Managing Director Harshwardhan Hanmant Sabale from the securities market till further orders for mis-utilising the IPO proceeds and manipulating the company’s financial statements by recording fictitious sales and purchases. Also, the regulator restrained Sabale from acting as a director or key managerial personnel of any listed company, any Sebi-registered intermediary or any company which intends to raise money from the public, until further orders.

Yatharth Hospitals has acquired 100 per cent stake in Pristine Infracon Pvt. Ltd., which has a 200-bedded hospital in Haryana’s Faridabad at an enterprise value of ₹116 crore. The said entity began commercial operations from May 12.

ICICI Bank has said that Bijith Bhaskar, who had been heading divisions like cards, payment solutions, e-commerce ecosystem, and consumer finance, has resigned. Bhaskar ranks as one of the senior management personnel in the organisation. His resignation was officially accepted by the bank on the same day.

Zydus Lifesciences has received approval from the US health regulator to market a generic medication for arthritis and other conditions in the American market. The company has received final approval from the US Food and Drug Administration (USFDA) to market Dexamethasone tablets (1mg), the drug maker said in a statement.

Anil Agarwal-led Vedanta Ltd has acquired an additional 46.57 per cent stake in Japanese glass substrate manufacturer AvanStrate Inc. With this acquisition, Vedanta’s total holding in AvanStrate has increased to 98.2 per cent. The transaction is likely to be completed by the first quarter of the current financial year.

IIFL Securities Ltd has appointed Nemkumar H as managing director for five years. He would replace R Venkataraman, currently the chairman and managing director, from May 15. The said appointment is subject to requisite regulatory and shareholders’ approval, IIFL Securities said in a regulatory filing. Venkataraman’s tenure as managing director is due to expire on May 14, 2024 and he decided not to seek renewal of his term, it said.

RailTel Corporation of India Ltd has received the work order from Central Warehousing Corporation for Supply Installation Testing and Commissioning of Modern Video Surveillance System across India amounting to ₹51.53 crore (Including Tax).

The board of SAL Steel has approved the raising of funds by issue of up to 48 lakh convertible equity warrants, convertible into or exchangeable one share within the period of 18 months from the date of allotment at ₹25 per warrant, aggregating up to ₹ 12 crore.

Flair Writing Industries has performed bhumi pujan for initiating the Construction Work of total built-up area of approximately 180,000 square feet comprising the manufacturing facility, a warehouse and an administrative block for its New Valsad Factory Unit at Valsad, Gujarat.

ATV Projects India has approved the proposal of sale/lease/development in joint venture/self-development of 75 acre land including Immovable Building and other misc. Properties/attached thereto and all related assets of TPE Plant situated at Nagothane Distt. Raigad Maharashtra. The board aprpoved proposal of sale/lease/development in joint venture/self-development of 2.71 acre surplus land in ATV Nagar, Mathura.

Infosys, a global leader in next-generation digital services and consulting, has completed the acquisition of InSemi, a leading semiconductor design and embedded services provider. This follows the announcement the company made on January 11.

Housing and Urban Development Corporation Limited has signed a Memorandum of Understanding (MoU) with Surat Integrated Transportation Development Corporation Limited (SITCO), a joint venture organisation of Ministry of Railways through Rail Land Development Authority, Government of Gujarat through GSRTC and Surat Municipal Corporation, with the aim of reinforcing cooperation and collaboration to leverage respective strengths for construction and development of Surat Multi Modal Transportation Hub (SMMTH) on the land provided by the Ministry of Railways and Government of Gujarat.

The United States Food and Drug Administration (US FDA) inspected Unit-VII, an API manufacturing facility, of Apitoria Pharma Private Limited, a wholly owned subsidiary of Aurobindo Pharma Ltd, situated at Parwada Mandal, Anakapally District, Andhra Pradesh from May 5 to 10, 2024. The inspection closed with 1 observation. The observation is of procedural in nature and will be responded to within the stipulated time.

Wipro has announced the appointment of Vinay Firake as the Chief Executive Officer, APMEA (Asia Pacific, India, Middle East & Africa) Strategic Market Unit (SMU), effective immediately. Vinay will report to Srini Pallia and will also join the Wipro Executive Board.

Lancor Holdings Ltd had purchased the Office Space in VTN Square, GN Chetty Road, T Nagar, Chennai, through an e-auction conducted by Bank of India, Asset Recovery Branch, New Delhi. However, the Sale was stayed by the Presiding Officer, DRT, Delhi. The said stay has been lifted and the company will now proceed to obtain the registration and possession of the said property soon.

Firstsource Solutions, an RP-Sanjiv Goenka Group company, has announced the appointment of Akash Pugalia as President, Global Trust & Safety. Based in the San Francisco Bay Area, he will spearhead the growth and expansion of the Trust & Safety practice on a global scale.

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