The previous session saw the market completely erase all of its gains and conclude with a bearish bias, continuing the downturn for a fifth session in a row. Metal, auto, and banking and financial services sectors were under pressure, although FMCG, IT, pharma, and oil and gas companies helped to boost the market.
The Nifty dropped 9 points to 17,007 while the BSE Sensex dropped 38 points to 57,107.
Mahindra CIE Automotive
Mahindra & Mahindra has sold 82,42,444 shares in its affiliated firm Mahindra CIE Automotive, representing 2.173 percent of its total share capital. Through the bulk deal window, the sale was carried out at a gross price of Rs 285 per share. Following the transaction, the company’s ownership in Mahindra CIE decreased from 11.427 percent to 9.254 percent. At an average price of Rs 284.88 per share, Participaciones Internacionales Autometal Dossociedad Limitada purchased 87.20 lakh shares of Mahindra CIE.
HG Infra Engineering
The National Highways Authority of India has given its subsidiary H G Khammam Devarapalle Pkg-1 Private Limited financial closure for the Telangana Greenfield Highway Project.
Bharat Heavy Electrical
The company has been given a contract by NTPC to set up Stage-III of the 2 660 MW Talcher thermal power project on an EPC (engineering, procurement, and construction) basis.
Motherson Sumi Wiring India
According to the corporation, on September 30th, the board of directors will meet to discuss a proposal for the issuing of bonus shares to the company’s equity owners.
Supriya Lifescience
Rajeev Kumar Jain has been chosen by the board to serve as the company’s CEO and key managerial personnel. On October 3, 2022, Rajeev will take over as CEO of Supriya and lead it through the following stage of its growth. The company’s chief executive officer, Shireesh Ambhaikar, has resigned for personal reasons.
GOCL Corporation
The remaining 12.25 acres of land were sold by the firm for Rs 125.11 crore. Out of the 44.25 acres of land, 32 acres had previously been sold.
Bharat Petroleum Corporation
Through open market transactions, Life Insurance Corporation of India added a further 2.01% share in the business. As a result, its ownership in the company rose from 7.03 percent to 9.04 percent.
Torrent Pharmaceuticals
For Rs 2,000 crore, the business purchased Curatio Healthcare, which has a portfolio of more than 50 brands and a significant position in the cosmetic dermatological market. It has entered into binding contracts to buy all of Curatio, which had FY21–22 revenue of Rs 224 crore.
