Company Profile

MIC Electronics has received Letter of Acceptance (LOA) from Mumbai Railway Division of Western Railway zone. The aggregate value of the said work order is Rs 4.62 crore. Nature of order is direct order, participated through Tenders. The order is to be executed 6 months from the date of issue of Letter of Acceptance.

Bajaj Electricals is increasing its play in the premium range in appliances and other segments, and expects the revenue contribution from upscale products to rise as it has lined up several new launches. The company has recently launched a new brand 'Nex', which will target upscale urban consumers with its premium range of appliances.

Sun Pharmaceutical Industries has proposed to fully acquire Israel-based Taro Pharmaceutical Industries through a reverse triangular merger. It has issued a letter to the Taro board with a proposal containing a non-binding indication of interest to acquire all of the outstanding ordinary shares for a purchase price of USD 38 per ordinary share in cash.

PG Electroplast’s wholly owned subsidiary -- PG Technoplast has entered into Memorandum of Understanding (MOU) for a 9-year term lease for an industrial building. The facility will be built-to-suit as per PG’s specifications. PG will invest over Rs 100 crore and setup a world-class backwards integrated Room Air Conditioner manufacturing plant in the facility located in Rajasthan.

HDFC Bank’s subsidiary -- HDFC Securities (HSL) has executed agreements to subscribe 60,289 Cumulative Convertible Preference Shares (CCPS) fully paid up of face value of Rs 10 each at a premium of Rs 985.2064 per CCPS to be issued by 9Platforms Technology for an aggregate consideration of Rs 995.2064 per CCPS (the Transaction). Post completion of the Transaction, HSL will be holding around 8% equity stake of 9Platforms Technology on a fully diluted basis.

Lupin’s Canada subsidiary -- Lupin Pharma Canada, has received approval from Health Canada to market a generic version of Spiriva (tiotropium bromide inhalation powder) for the treatment of chronic obstructive pulmonary disease (COPD), in Canada.

Oil and Natural Gas Corporation (ONGC) reported results for fourth quarter (Q4) ended March 31, 2023. The company has reported net loss at Rs 247.70 crore for the quarter under review as compared to net profit of Rs 8859.54 crore for the same quarter in the previous year. However, total income of the company increased by 6.63% at Rs 38220.66 crore for Q4FY23 as compared to Rs 35840.98 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 52.73% fall in its net profit at Rs 5701.46 crore for fourth quarter ended March 31, 2023 as compared to Rs 12061.44 crore for the same quarter in the previous year. However, total income of the company increased by 5.09% at Rs 166728.80 crore for Q4FY23 as compared to Rs 158660.49 crore for the corresponding quarter previous year.

Bajaj Electricals has informed that the exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Norges Bank.

The above information is a part of company’s filings submitted to BSE.

Bajaj Electricals has informed that the exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SMALLCAP World Fund, Inc.

The above information is a part of company’s filings submitted to BSE.

Small Cap World Fund has sold nearly 2 per cent stake in Bajaj Electricals for Rs 234 crore. According to the bulk deal data available with the BSE, Small Cap World Fund Inc offloaded more than 22.36 lakh shares, amounting to 1.94 per cent stake in the firm.

The shares were sold at an average price of Rs 1,045 apiece, taking the transaction value to Rs 233.76 crore. Post the latest transaction, Small Cap World Fund's shareholding has reduced to 3.36 per cent from 5.30 per cent (as of March quarter) in the Mumbai-based firm.

Bajaj Electricals is an electrical equipments manufacturing company. It is engaged in the manufacturing of domestic appliances such as water heaters, mixers, food processors, microwave ovens, air coolers, steam & dry irons, etc.