Stocks to Watch: Reliance, Zomato, REC, HCLTech, Jet Airways
Reliance Industries: Reliance Retail Ventures Ltd. (RRVL) on Wednesday said it has signed a joint venture agreement to acquire a 51% stake in Ed-a-Mamma, a kid and maternity-wear brand founded by actor Alia Bhatt. The partnership will see the brand grow into new categories such as personal care and baby furniture, children’s story books and an animated series, RRVL said in a statement announcing the investment.
The company did not give financial details of the transaction. Tata Consumer Products: The Tata Group's consumer unit, Tata Consumer Products Ltd has denied the report carried out by the news agency Reuters that it is in talks to buy at least 51% of popular Indian snack food maker Haldiram's but is not comfortable with the $10 billion valuation sought. In a regulatory filing Tata Consumer Products stated in reference to the news article, the company said that it is not in negotiations as reported in the above-referred news article.
Zomato: Zomato Ltd’s efforts to improve its profitability have yielded results in the recent quarters. But the fight to meet its goals is on. Lately, the online food delivery company has started levying a platform fee of ₹2-3 per order on its app on a pilot basis.
The “small fee" has been introduced to “help us pay the bills so that we can keep Zomato running," the food delivery app’s order section shows. According to the company, the platform fee will be applicable for all its customers. “We are still in the experiment stage, and are gradually rolling it out across India," said the company.
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