Stocks in View: ITC, Zomato, Adani Group, Voltas, Oil Companies & More

  • Stock Market News
Stocks in View: ITC, Zomato, Adani Group, Voltas, Oil Companies & More

By Malvika Gurung -- ITC (NS: ITC ): The cigarettes-to-hotels conglomerate has announced an exit from the lifestyle retailing business after a strategic review of the company’s portfolio.

Oil Stocks: In a second major revision within 2 weeks, the Government has slashed windfall tax on diesel and removed tax on ATF exports, while raising duties on crude oil .

Axis Bank (NS: AXBK ): The lender will acquire a 5.1% stake in the fintech platform CredAble, or 8,921 equity shares, for a consideration of Rs 55 crore, and the deal will likely complete by September. 

Zomato (NS: ZOMT ): The transport major Uber is likely to offload its 7.8% stake in the food delivery platform via a block sale on Wednesday, to raise $420 million or about Rs 2,939 crore.

Aurobindo Pharma (NS: ARBN ): The US drug regulator USFDA has issued a Form 483 with three observations against the pharma company after inspection at its manufacturing facility at Pydibhimavaram, Andhra Pradesh, from Jul 25-Aug 2, 2022.

Voltas (NS: VOLT ): The home appliances brand has posted a 10.5% YoY drop in consolidated net profit at Rs 109.6 crore, while revenue from operations jumped 55% YoY to Rs 2,768 crore in the June quarter.

Some Companies Releasing Q1 FY23 Earnings Today

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