Bharat Petroleum

LIC has acquired over a 2% stake in state-owned refiner Bharat Petroleum Corporation Limited (BPCL) for nearly Rs 1,598 crore since December last year. The state-owned life insurance giant in a regulatory filing on Tuesday said its shareholding in BPCL has increased from 15,25,08,269 to 19,61,15,164 equity shares, increasing its shareholding from 7.03% to 9.04% of the paid-up capital of the company. The shares were purchased in the ordinary course of the transaction through the open market at an average cost of Rs 336.43 per share.

Also Read | Stocks to watch on Wednesday, September 28, 2022

Reliance Industries

India’s largest retailer, Reliance Retail announced the launch of its fashion and lifestyle departmental store format, Reliance Centro. Centro will have over 300 Indian and International brands in categories such as apparel, footwear, cosmetics, lingerie, sportswear, luggage, and accessories. The first Reliance Centro store was launched on Tuesday in Vasant Kunj, Delhi. The 75,000 sq ft departmental store has a range of over 20,000 style options for all age groups.

Also Read | iPhone 14 production in India begins ahead of schedule as Foxconn resolves supply chain woes

Torrent Pharmaceuticals

The company has acquired Curatio Healthcare for Rs 2,000 crore to strengthen its presence in the dermatology segment. It has entered into definitive agreements to acquire 100% of Curatio Healthcare. Sequoia-backed Curatio has a portfolio of over 50 brands that are marketed in India. It clocked a revenue of Rs 224 crore in FY22 and dermatology accounts for 82% of Curatio’s revenue, the filing said.

Also Read | Supreme Court to hear pleas challenging constitutional validity of demonetisation

Bank of India

The state-owned lender has acquired over 5.5% stake in Open Network for Digital Commerce (ONDC) for Rs 10 crore. On September 27, 2022, the bank invested in the capacity of promoter shareholder of ONDC, an amount of Rs 10 crore in ONDC, under the private placement route, Bank of India said in a regulatory filing. The bank’s shareholding in the company will be 5.56% of the total shareholding in ONDC as on September 27, 2022. 

Also Read | Week ahead: RBI interest rate decision, rupee movement to weigh on Sensex, Nifty

Dish TV 

Shareholders of the broadcast satellite service provider rejected audited statements for the last two financial years, appointments of a new auditor, and an independent director. The shareholders rejected the appointments of Rakesh Mohan as an independent director as well as SN Dhawan & Co LLP, Chartered Accountants as the auditor of the company. Dish TV also adjourned its annual general meeting (AGM) without a date, the company informed exchanges on Monday. It also added that the strength of the board had come down to two directors, below the minimum required strength of three.

Also Read | Week in review: Sensex, Nifty fall as inflation fears weigh on investor sentiment

Mahindra CIE Automotive

Mahindra & Mahindra has sold 82,42,444 shares or a 2.173% stake in associate company Mahindra CIE Automotive. The sale has been executed via the bulk deal window at a gross price of Rs 285 per share. After the sale, the shareholding of the company in Mahindra CIE decreased from 11.427% to 9.254%. Participaciones Internacionales Autometal Dossociedad Limitada acquired 87.20 lakh shares in Mahindra CIE at an average price of Rs 284.88 per share.

Also Read | Apple set to replace Pepsi as sponsor of next Super Bowl Halftime show

Bharat Heavy Electrical

The company has secured an order for setting up the 2×660 MW Talcher thermal power project Stage-III on EPC (engineering, procurement & construction) basis from NTPC.

Indraprastha Gas Limited

Indraprastha Gas Limited on Tuesday said it provided record 3.75 lakh new connections for piped cooking gas to the household during fiscal 2021-22. The gas retailer in the national capital region said it had set up 99 new CNG stations between April 2019 and March 2020, taking the total number of CNG stations to 711. IGL recorded a gross turnover of Rs 8443 crore and PAT was Rs1315 crore in FY2021-22.

Also Read | Apple’s 16.02. update fixes grinding noises, permission bugs and more

Supriya Lifescience

The company said the board of directors has appointed Rajeev Kumar as Chief Executive Officer and Key Managerial Personnel. Rajeev will be joining as CEO on October 3, 2022, to take Supriya on the next phase of its growth journey. Shireesh Ambhaikar has resigned as CEO of the company citing personal reasons.

Also Read | All metal companies of Tata Group merged into Tata Steel

HG Infra Engineering

Subsidiary H G Khammam Devarapalle Pkg-1 Private Limited has received financial closure for the Greenfield highway project in Telangana, from the National Highways Authority of India (NHAI).

Motherson Sumi Wiring India

The board of directors will meet on September 30 to consider a proposal for the issuance of bonus shares to the equity shareholders of the company.

Also Read | What is no-poaching agreement?

GOCL Corporation

The company has finished the sale of the balance of 12.25 acres of land for Rs 125.11 crore. Earlier it had sold 32 acres out of 44.25 acres of land.