Life Insurance Corporation of India (LIC) acquired additional 2.24 lakh equity shares in the company through open market transactions on April 22. With this, LIC’s stake in the company stands increased to 5.03 percent, up from 4.97 percent earlier
Mahindra CIE Automotive
Profit in the quarter ended March 2022 grew by 1,499 percent YoY to Rs 161.43 crore. Meanwhile, the topline rose 18.2 percent to Rs 2,588.4 crore compared to the corresponding period last fiscal.
The company’s net loss narrowed to Rs 38 crore in Q4 FY22 from Rs 443 crore in the corresponding period last year. However, revenue came in at Rs 241 crore as compared to Rs 273 crore on a YoY basis
Gujarat Mineral Development Corporation
The company recorded a consolidated profit of Rs 177 crore for the quarter ended March 2022, against a loss of Rs 184.64 crore in the same period last year, driven by topline. Revenue grew by 87 percent YoY to Rs 1,057.3 crore in the same period.
Bank of India
The lender said it would be raising Rs 2,500 crore by selling equity shares and also to bring the promoter shareholding to equal to or below 75 percent to comply with minimum shareholding norms
State-run explorer ONGC missed its capex target by 11 percent while refiners IndianOil, BPCL and HPCL exceeded their respective targets for 2021-22, as per a report. State-oil companies spent a combined Rs 1,04,600 crore, meeting their capex target for the year.
Veranda Learning Solutions
The learning solutions provider has acquired T.I.M.E. (Advanced Educational Activities Pvt Ltd), the leading test-prep institute with a pan-India presence operating through 188 centres. The company bought T. I. M. E. for Rs 287 crore
Lemon Tree Hotels
The company has signed a License Agreement for a 60 room hotel at Kharar, near Chandigarh under the brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by November 2025. Its subsidiary Carnation Hotels will be operating and marketing this hotel.
Bank of Maharashtra
Reserve Bank of India has imposed a penalty of Rs 1.12 crore on Bank of Maharashtra for non-compliance with certain directions, including those related to Know Your Customer (KYC) norms.