The market wiped out all of its gains and closed flat with a negative bias in the previous session, continuing the downward trend for the fifth straight session. Banking and financial services, auto and metal stocks were under pressure, while FMCG, IT, pharma and oil and gas stocks supported the market.
The BSE Sensex fell 38 points to 57,107, while the Nifty50 fell 9 points to 17.007.
Mahindra CIE Automotive
Mahindra & Mahindra has sold 82,42,444 shares or 2.173% of the shares in associate company Mahindra CIE Automotive. The sale has been made through the bulk deal window at a gross price of Rs 285 per share. Following the sale, the company’s stake in Mahindra CIE fell from 11.427 percent to 9.254 percent. Participaciones Internacionales Autometal Dossociedad Limitada acquired 87.20 lakh shares in Mahindra CIE at an average price of Rs 284.88 per share.
HG Infrastructure technology
Subsidiary HG Khammam Devarapalle Pkg-1 Private Limited has received financial closure for the Greenfield highway project in Telangana, from the National Highways Authority of India.
Bharat Heavy Electric
The company has received an order to set up the 2×660 MW Talcher Stage-III thermal energy project on an EPC (engineering, procurement & construction) basis from NTPC.
Motherson Sumi Wiring India
The company said its board of directors will meet on September 30 to discuss a proposal to issue bonus shares to the company’s shareholders.
Supriya Life Science
The board of directors has appointed Rajeev Kumar Jain as the company’s Chief Executive Officer and Key Managerial Persons. Rajeev will join as CEO on October 3, 2022 to take Supriya into the next phase of its growth trajectory. Shireesh Ambhaikar has resigned as Chief Executive Officer of the company due to personal reasons.
The company has completed the sale of the remaining 12.25 hectares of land for Rs 125.11 crore. Previously, it had sold 32 acres of 44.25 acres of land.
Bharat Petroleum Corporation
Life Insurance Corporation of India has acquired an additional 2.01 percent stake in the company through open market operations. This increased the stake in the company to 9.04 percent, from 7.03 percent earlier.
The company has acquired Curatio Healthcare, which has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, for Rs 2,000 crore. It has entered into definitive agreements to acquire 100 percent in Curatio, which reported revenue for FY21-22 of Rs 224 crore.
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