Live Business News: Stocks to watch on December 23 – Reliance, IRCTC, Lupine Pharma and more | Daily News Byte

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The BSE Sensex fell 241 points to 60,826.22 and the NSE Nifty 71.75 points to 18,127.35 on Thursday.

Business news on December 23
Business news on December 23

New Delhi: Indian benchmark indices are expected to open in the red today, according to trends on the SGX Nifty. In the last trading session, the BSE Sensex fell 241 points to 60,826.22 and the NSE Nifty fell 71.75 points to 18,127.35.

ACTIONS TO WATCH ON DECEMBER 23

Reliance Industries: In a regulatory filing, Reliance Industries announced on December 22 that its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL) has acquired a 23.3 percent stake in US robotics startup Ekin Technologies for $25 million.

In addition, India’s largest oil company, Indian Oil Corporation (IOC), has chosen network services operated by Reliance Jio to connect a fifth of its petrol pump network. Jio will connect 7,200 IOC locations with SD-VAN service solution, touchless provisioning and 24×7 real-time monitoring, the company said on Thursday.

Also, Reliance Projects and Property Management Services (RPPMSL) has completed acquisition of 100 per cent stake in Reliance Infratel for around Rs 3,720 crore.

GR Infraprojects: National Highways Authority of India Engineer has awarded Completion Certificate to GR Infraprojects for construction of Eight Lane Access Control Highway, Delhi – Vadodara Green Field Alignment Section (NH-148N) on EPC mode under Bharatmala Pariiojana in Madhya Pradesh. The mentioned project was declared capable of being put into commercial use on November 30, 2022.

In addition, infrastructure investment fund India Grid Trust and GR Infraprojects have partnered to bid for identified power transmission projects worth Rs 5,000 crore.

Bank of Maharashtra: In a bid to raise money through bonds on a private placement basis, the PSU lender has received total bids worth Rs 990 crore for the issuance of additional Basel III compliant Tier 1 bonds. The bank accepted bids worth 880 million dinars, including a base issue of 200 million dinars and a green shoe option held up to 680 million dinars, with a coupon rate of 8.74 percent.

IRCTC: Government of India proposes to offer up to 40 lakh equity shares to eligible employees of Indian Railway Hospitality and Tourism Corporation at Rs 680 per share. The employee sale offer remains open from December 23rd to December 26th.

Lupine Pharmaceuticals Inc: The company is voluntarily recalling 4 batches of Quinapril tablets due to the presence of a nitrosamine impurity, N-nitroso-quinapril, which was observed in recent testing above the Acceptable Daily Intake (ADI) level. However, to date, Lupine Pharmaceuticals has not received any reports of illnesses associated with this problem. Lupine Pharma discontinued the sale of Quinapril Tablets in September 2022. Quinapril Tablets is an angiotensin-converting enzyme (ACE) inhibitor indicated for the treatment of hypertension, to lower blood pressure.




Date of publication: 23 December 2022 7:42 IST



Updated Date: 23 Dec 2022 8:31 IST

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