The market wiped out all its gains and closed flat with a negative bias in the previous session, continuing the downtrend for the fifth consecutive session. Banking and financial services, auto, and metal stocks were under pressure, whereas FMCG, IT, pharma, and oil and gas stocks supported the market.
The BSE Sensex fell 38 points to 57,107, while the Nifty50 declined 9 points to 17,007.
Mahindra CIE Automotive
Mahindra & Mahindra has sold 82,42,444 shares or 2.173 per cent shareholding in associate company Mahindra CIE Automotive. The sale has been executed through the bulk deal window at a gross price of Rs 285 per share. After the sale, the shareholding of the company in Mahindra CIE has come down from 11.427 per cent to 9.254 per cent. Participaciones Internacionales Autometal Dossociedad Limitada acquired 87.20 lakh shares in Mahindra CIE at an average price of Rs 284.88 per share.
HG Infra Engineering
Subsidiary H G Khammam Devarapalle Pkg-1 Private Limited has received financial closure for Greenfield highway project in Telangana, from the National Highways Authority of India.
Bharat Heavy Electrical
The company has received an order for setting up the 2×660 MW Talcher thermal power project Stage-III on EPC (engineering, procurement & construction) basis from NTPC.
Motherson Sumi Wiring India
The company said 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.
The board has appointed Rajeev Kumar Jain as Chief Executive Officer and Key Managerial Personnel of the company. 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 Chief Executive Officer of the company citing personal reasons.
The company has completed the sale of the balance 12.25 acres of land for Rs 125.11 crore. Earlier it had sold 32 acres out of 44.25 acres of land.
Bharat Petroleum Corporation
Life Insurance Corporation of India has acquired an additional 2.01 per cent stake in the company via open market transactions. With this, its shareholding in the company increased to 9.04 per cent, up from 7.03 per cent 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 per cent in Curatio which reported revenue for FY21-22 at Rs 224 crore.
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