Stocks in news: Airtel, Paytm, SpiceJet, ONGC and ZEE

Markets remained under pressure on Monday, extending their losing streak for the fifth consecutive session amid weak global cues. Given the prevailing combination of elevated crude prices, geopolitical uncertainty and weakness in key heavyweights, analysts recommend maintaining a cautious, stock-specific approach, utilising market declines selectively to accumulate relatively stronger stocks while maintaining disciplined risk and position management.

In today's trade, shares of Airtel, Paytm, SpiceJet, ONGC, ZEE among others will be in focus due to various news developments.

Airtel


Airtel arm Airtel Payments Bank on Monday named Shabnam Sinha as its new chairperson, succeeding group chair Sunil Bharti Mittal, whose term ends on September 30. Sinha, who is an independent director on Airtel Payments Bank's board, will serve as the chair for a three-year term from October 1, the company said.

Paytm

Resilient Asset Management BV is set to sell shares worth up to Rs 4,895 crore in One 97 Communications, the parent company of Paytm, through a bulk or block deal on Tuesday. The seller has offered a base deal of up to 19.2 million shares, representing about 3% of Paytm’s existing total share capital.

SpiceJet

The National Company Law Tribunal (NCLT) on Monday deferred its rulings on eight bankruptcy petitions filed against SpiceJet by aircraft lessors after the airline reached a last-minute settlement with one of the lessors.

Lupin

Pharma major Lupin Ltd on Monday said it has received final approval from the US health regulator for the generic version of Pitolisant tablets indicated to treat excessive daytime sleepiness. The approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application for Pitolisant Tablets of strengths 4.45 mg and 17.8 mg, Lupin Ltd said in a regulatory filing.

Read more: Paytm block deal: Resilient Asset to sell up to Rs 4,895 crore stake at 3% discount

ONGC

State-owned Oil and Natural Gas Corp (ONGC) has secured a licence from the US Treasury's Office of Foreign Assets Control (OFAC), allowing it to resume full operations in Venezuela after years of limiting activity because of sanctions-related risks, a senior company official said.

ZEE

Zee Entertainment Enterprises has appointed Ashish Mishra as its Chief Marketing Officer as the media company moves to strengthen its marketing capabilities and deepen consumer engagement across its businesses.