PRE-MARKET INDIAN STOCKS NEWS: ONGC (ONGC IS) secured a licence from the US Treasury's OFAC to resume full operations in Venezuela
ONGC resumes Venezuela operations under US licence, while Paytm faces a major stake sale. SpiceJet avoids immediate insolvency rulings through a settlement, and Lupin gains key US FDA approval.
News detail
Bharti Airtel (BHARTI IS) - Co.’s Airtel Payments Bank appointed Shabnam Sinha as chairperson for a three-year term beginning 1 October, replacing Sunil Bharti Mittal. (Economic Times) Lupin (LPC IS) - Co. secured final US FDA clearance for a generic version of Pitolisant tablets used in the treatment of excessive daytime sleepiness. (Economic Times) One 97 Communications (PAYTM IS) - Resilient Asset Management BV plans to sell as many as 19.2mln shares, equal to around 3% of the Co.’s outstanding share capital, through a block or bulk transaction worth up to INR 48.95bln. (Economic Times) ONGC (ONGC IS) - Co. received authorisation from the US Treasury's OFAC to restart full operations in Venezuela after years of reduced activity due to sanctions-related constraints. (Economic Times) SpiceJet (SJET IS) - India's NCLT postponed decisions on eight insolvency petitions brought against the Co. by aircraft lessors after it reached a last-minute agreement with one of them. (Economic Times) Zee Entertainment Enterprises (Z IN) - Co. named Ashish Mishra as Chief Marketing Officer as part of efforts to bolster marketing and deepen consumer engagement across its businesses. (Economic Times)
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