Stocks in news: Paytm, Zomato, ITC, Future Retail and more

The Indian equity market is likely to open higher today as SGX Nifty rose 274 points to 16,926. Market snapped five sessions of gaining streak on Tuesday amid losses in its global peers. Sensex closed 709 points lower at 55,776 and Nifty lost 208 points to 16,663. M&M, Maruti , Nestle India, and Asian Paints were the top Sensex gainers, rising up to 2.23 per cent.

Tata Steel, Kotak Bank, Tech Mahindra , Infosys and Reliance were the top Sensex losers, falling up to 4.89%. Of 30 Sensex stocks, 20 ended in the red.

Here's a look at stocks that are likely to remain in news today.

One 97 Communications (Paytm): Munish Ravinder Varma resigned as non-executive, non-independent director of the company due to personal commitments and other pre-occupations.

Punjab National Bank: The lender has reported a borrower fraud of Rs 2,060.14 crore in the non-performing asset account of IL&FS Tamil Nadu Power. The bank has already made provisions amounting to Rs 824.06 crore.

Zomato: The food delivery firm bought a 16.66 percent stake in Mukunda Foods Private Ltd, a food robotics company, for cash consideration of $5 million. The board also cleared a loan of up to $150 million to Grofers India in one or more tranches.

Share Market LIVE: Sensex, Nifty likely to open higher today

Infibeam Avenues: The board has cleared the appointment of Sunil Bhagat as Chief Financial Officer of the company.

EKI Energy Services: The firm is in talks with some of the European oil and gas majors, to launch an initiative to supply free improved cookstoves to rural households to reduce carbon footprint and generate carbon offsets.

ITC: The company has bought 1,040 compulsorily convertible preference shares of Rs 10 each of Mother Sparsh Baby Care. After the transaction, its shareholding in Mother Sparsh stands at 16 percent.

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

Eveready Industries: 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.

InterGlobe Aviation: The budget airline has 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 the Future group firm.

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