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Shares of IndiaMART InterMESH tanked 8.4 per cent to Rs 8,055 during Friday s intra-day deals on the BSE on weak operational performance in March quarter of FY21. The B2B e-commerce firm s total income increased just 1 per cent to Rs 190 crore during the reported quarter from Rs 187 crore in the corresponding period of 2019-20. For the full fiscal of 2020-21, its total income grew by 7 per cent to Rs 756 crore from Rs 707 crore in the preceding fiscal. During these trying times, we remain committed to employee safety and customer centric approach helping businesses grow through on-line transformation, Indiamart Intermesh CEO Dinesh Agarwal said in a statement. ....
Indiamart Intermesh has indirectly, through its wholly owned subsidiary, Tradezeal Online Private, agreed to acquire 26% of the share capital of Shipway Technology on fully converted and diluted basis. The company, through its wholly owned subsidiary, has agreed to acquire 100 equity shares and 4,088 Convertible Preference Shares (CCPS). Shipway Technology is engaged in the business of developing SaaS based solutions which allow small businesses to automate their shipping operations. Indiamart Intermesh has also agreed to acquire 3.02% of the share capital of Truckhall on fully diluted basis in addition to 22% of the share capital (on fully diluted basis) already held by the company. ....
Motherson Sumi, Bajaj Holdings, Shriram Transport, AU Small Finance Bank, IndiaMart InterMesh and Laurus Labs are among companies scheduled to announce quarterly results today. ONGC: India s flagship oil and gas producer Oil and Natural Gas Corporation (ONGC) said it is seeking foreign partners for yet-to-be-developed fields in lesser prospective areas but is shackled by uneconomic gas prices and tax structure. Morepen Laboratories: The drug firm Morepen Laboratories said its board has approved raising over Rs 433 crore through issue of shares to Switzerland s private venture capital firm Corinth Investment Holdings and Liquid Holdings, a promoter group of the company, on a preferential basis ....