Paytm, Punjab National Bank, Zomato, ITC and more: Top stocks to watch out for on Mar 16

SUMMARY

Stocks to watch: Singapore Exchange-traded Nifty50 futures gained 1.6 percent at 16,919.5 as of 6:43 am on Wednesday, indicating a gap-up open for Indian stock market. For top stocks to watch out for in trade today, Paytm, Punjab National Bank, Zomato, ITC among others will be in focus. Here is a list of stocks that will be closely monitored:

By CNBCTV18.comMar 16, 2022 7:21:21 AM IST (Published)

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 company has reported a borrower fraud of Rs 2,060.14 crore in the non-performing asset account of IL&FS Tamil Nadu Power. Fraud of Rs 2060.14 crore is being reported by the bank to the RBI in the accounts of the company. The lender has already made provisions amounting to Rs 824.06 crore.

Zomato | The food delivery giant acquired a 16.66 percent stake in Mukunda Foods Private Ltd, a food robotics company, for cash consideration of $5 million. The board also approved a loan of up to $150 million to Grofers India in one or more tranches. The loan to Grofers is in line with its stated intent of investing up to $400 million cash in quick commerce in India over the next 2 years.

Infibeam Avenues | The board has approved the appointment of Sunil Bhagat as Chief Financial Officer of the company, in place of Hiren Padhya.

EKI Energy Services | The firm is in advanced discussions 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.

Shyam Metalics and Energy | The company announced a fresh round of Rs 990 crore capital expenditure plans to further expand the capacity by 2.85 MTPA. This capital expenditure will be over and above the ongoing capital expenditure expansion of Rs 3,000 crore.

Genus Paper & Boards | The company has successfully commenced production of duplex paper from one of the production lines at a new unit in Muzaffarnagar, Uttar Pradesh. The Muzaffarnagar unit has manufacturing facilities for the production of kraft paper and duplex paper.

ITC | The company has acquired 1,040 compulsorily convertible preference shares of Rs 10 each of Mother Sparsh Baby Care. With this, its shareholding in Mother Sparsh stands at 16 percent.

Max Healthcare Institute | The company said Ananya Tripathi has resigned as the Non-Executive, Non-Independent Director and Gaurav Trehan has been appointed as the Additional Director (Non-Executive).

Future Retail | Rahul Garg has resigned as the Non-Executive, Non-Independent Director of the company.