September 14, 2021 12:54 PM
On September 13, the benchmark indices closed lower led by losses in index heavyweights Reliance Industries, ICICI Bank and HDFC Bank. Zee Entertainment, Vodafone Idea, Infosys, HCL Tech and more. Reliance Industries was the top Sensex loser, shedding 2.22 per cent, followed by ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra.
Zee Entertainment: Two institutional investors holding around 17.88 per cent stake in Zee Entertainment have sought the removal of Managing Director Punit Goenka and two others as the directors of the company.
Following the letter, Manish Chokhani and Ashok Kurien have resigned from the position of non-executive non-independent directors of the company with immediate effect, the company in a statement to the stock exchanges today.
The exact reason behind their decision to call for Goenka and two others’ removal is not clear so far. Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund IIC are shareholders of Zee Entertainment Enterprises Ltd.
Vodafone Idea: Banks led by State Bank of India (SBI) have called on the Indian government to give debt-laden Vodafone Idea more time to clear its tax dues and spectrum fees, two bankers and a government official familiar with the matter said.
An Indian court last year ordered the mobile carrier, a joint venture between the Indian unit of Britain’s Vodafone Group and Aditya Birla Group’s Idea Cellular, to pay just over $8 billion to the government to settle long-standing dues. Vodafone has a stake of about 44% in the company and Aditya Birla owns nearly 27%.
Zee Entertainment, Vodafone Idea, Infosys, HCL Tech and more, Kotak Mahindra Bank: A Kotak Mahindra Bank arm announced a Rs 1,000-crore investment into a third-party logistics (3PL) business promoted by the south-based TVS family.