Zomato, Bajaj Auto, RIL and other stocks in news today

Trends in the SGX Nifty indicate a negative opening for the broader index in India on the back of a slump in Asian markets and fresh levy of windfall tax on fuel. On Monday, BSE Sensex rallied 327 points to 61,168, while the Nifty50 jumped 92 points to 18,197.

India has raised windfall tax on petroleum, crude oil and aviation turbine fuel, according to a government order dated January 2. It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective on Tuesday.


Markets in the Asia-Pacific traded lower as most of the region kicks off their first trading sessions for the year.

In Australia, the S&P/ASX 200 fell 1.64 percent on its first trading session of 2023. Markets in Japan, and New Zealand are closed for public holidays on Tuesday. South Korea’s Kospi fell 1.52 percent after shedding about 0.5 percent on Monday – the Kosdaq shed 1.05 percent.

Markets were shut in the US on Monday.

Stocks in news

Zomato:

Gunjan Patidar, co-founder and chief technology officer of the company, has resigned. Gunjan was one of the first few employees of Zomato and built the core tech systems for the company.

Dabur India

The company has completed acquisition of 51% stake in Badshah Masala as per Share Purchase Agreement and Shareholders Agreement. With this, Badshah Masala has become a subsidiary of Dabur India.

Bajaj Auto

The company reported a 22% decline in total sales to 281,486 units in December. Total two-wheeler sales slipped 23% to 2,47,024 units last month. In the domestic market, two-wheeler sales dipped 2% to 1,25,525 units, while exports fell 36% to 1,21,499 units.

M&M Financial

Total loan disbursals in December rose 67% on year to Rs 4,650 crore. The Q3 disbursements at approximately Rs 14,450 crore, registered a growth of 80% YoY.

HFCL

The company has bagged orders worth Rs 95.38 crore from Reliance Industries’ subsidiary Reliance Projects & Property Management Services to supply optical fibre cables.

Vivanta Industries

The company’s board will meet to consider fundraising through preferential share issue.

ONGC/Reliance

India has raised the windfall tax on petroleum, crude oil and aviation turbine fuel. It raised the windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective on Tuesday. The federal government also raised the export tax on diesel to 7.5 rupees per litre from 5 rupees, while raising the windfall tax on ATF to 4.5 rupees per litre from 1.5 rupees, the document showed.

Zee Entertainment

Zee Entertainment said that an operational creditor has filed an insolvency case against the company for allegedly defaulting on an amount of over Rs 211 crore. The company in its regulatory filing said that its operational creditor, Indian Performing Right Society Limited (IPRS), has filed the approached Mumbai bench of the National Company Law Tribunal (NCLT).

Ashok Leyland

Commercial vehicles maker Ashok Leyland reported a 45% increase in total sales at 18,138 units in December 2022. The company had registered total sales of 12,518 units in the same month a year ago. Domestic sales were higher by 49% last month at 17,112 units as compared to 11,493 units in December 2021. Exports were flat at 1,026 units last month as against 1,025 units in the previous year.