Last updated time: 14 Mar 2023 07:57 IST
The Nifty futures contract traded on the Singapore bourse indicated a positive start for domestic equities. The contract traded at 17,204, up 25 points or 0.15% from the previous close.
Mahindra and Mahindra
The company sold its 6.058% stake in its listed partner Mahindra CIE comprising 2,29,80,000 shares at a price of Rs 357.39 per share. Thus, the total share of MCIE shares decreased to 3.195% of its authorized capital.
LIC, Dr. Reddy
The insurance company’s stake in Dr. Reddy’s rose from 1,27,83,287 to 1,61,44,983 shares, while its stake in the pharmaceutical company rose from 7.676% to 9.695%.
Funds affiliated with Blackstone have sold a 20.5% stake in Sona BLW Precision Forgings (Sona Comstar). “These share sales were carried out through massive open market transactions with strong demand from foreign institutional investors, sovereign wealth funds, domestic mutual funds and insurance companies. Market investors such as the Government of Singapore, Fidelity, FMR, ICICI Prudential Life Insurance and HDFC MF bought shares from Blackstone in a massive deal,” the company said in a statement to the stock exchanges.
The Board has approved a second interim dividend of 50% at Rs 2.50 per equity share of Rs 5 each on a paid-up share capital of Rs 918.32 crore.
Orders for Indian cotton with a total value of USD 2.7 million have been received from Bangladesh.
The United States Food and Drug Administration (US FDA) has completed an inspection of Lupine’s bioresearch facility in Pune, India. The review was closed without any follow-up.
The company has invested 9.80% (5.68% on a fully diluted basis) in Lone Cypress Ventures, a special purpose vehicle engaged in providing solar energy to consumers in Uttar Pradesh. The cost of this investment was Rs 3.15 crore.
Embassy Parks REIT
Embassy Parks REIT has committed over Rs 300 crore (Indian Rupees Three Hundred Crores only) to environmental, social and governance programs across its 43.6 million square foot pan-India portfolio.
The board of GAIL (India) has approved an interim dividend of Rs 4 per share for the financial year 2022-23. The company set March 21 as the record date.
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