Tata Consumer, : Nifty50 will remove energy major Gail from the stocks that comprise its weightage. The Index Maintenance Sub-Committee (IMSC) of NSE Indices decided to make the changes, as part of its periodic review. In Gail’s place, Tata Consumer Products will be included in the index from March 31.
UPL: Agrochemical maker
said a fire that broke out at a plant in the western state of Gujarat had killed two and injured 26. Five workers were still missing. The fire may have been caused due to an electric short circuit, UPL said in a regulatory filing.
Zuari Agrochemicals: The company said it will sell its fertiliser plant and the associated businesses at Goa to Paradeep Phosphates (PPL) for an enterprise value of $280 million (over Rs 1,100 crore).
NTPC: State-owned
said it has signed a share purchase agreement to buy GAIL’s 25.51 per cent stake in Ratnagiri Gas and Power (RGPPL), which is commonly known as Dabhol project. After the transaction is complete, NTPC would have 86.49 per cent stake in the RGPPL.
Kotak Bank: A fund managed by a Kotak Mahindra Bank subsidiary has invested Rs 250 crore to help entrepreneur Sanjaya Mariwala buy-out two nutraceutical businesses from Omniactive Health Technologies.
Aurobindo Pharma: The drug masker said it has inked a pact to acquire 26 per cent stake each in two Hyderabad-based solar power generating companies.
REC: State-run REC said it has raised $500 million through issuance of notes (bonds) under its $7 billion Global Medium Term Note Programme which would be used to finance the power sector.
Punjab & Sind Bank: The bank will allot preferential shares to the government next month in lieu of Rs 5,500 crore capital infusion into the bank.
ONGC: State-owned Oil and Natural Gas Corporation (ONGC) has opened a residential complex at its funded multi-specialty hospital in Sivasagar district of Assam.
Reliance Industries: Billionaire Mukesh Ambani’s Reliance Industries announced the contours of spinning-off its oil refining, fuel marketing and petrochemical (oil-to-chemical) business into an independent unit with a $25 billion loan from the parent, as it looks to unlock value by settling stakes to global investors like Saudi Aramco.
