Actions that will come into action on November 18, 2022

Billionaire Anil Agarwal led VedantaThe group informed the exchanges that the company’s board of directors will consider the proposal for the payment of the third interim dividend for the financial year 23 at the meeting to be held on November 22.

Life Insurance Corporation of India has sold a 2% stake or 56.68 lakh shares in Bajaj Auto through open market transactions. With this, LIC’s stake in the company is reduced to 5.2% from 7.2% previously.

The Canada Pension Plan Investment Board (CPPIB) on Thursday purchased over 1.70 crore of shares of by Nykaa head quarter, FSN eCommerce Companies for ₹299 crore via open market transaction. CPPIB purchased a total of 1,70,81,850 shares of the company, according to block trading data available from the ESB. Meanwhile, reports suggest that Citigroup has today launched a block deal to sell shares in a trendy cosmetics retailer worth ₹1,000 crore.

Kirloskar Brothers Ltdcalled an extraordinary general meeting of its shareholders on December 8, 2022 to consider the request for a forensic audit of the company’s affairs by an external body, according to a regulatory filing. It follows the requisition by Kirloskar Industries Ltd (KIL) as well as Atul Kirloskar and Rahul Kirloskar, who together own 24.92% of Kirloskar Brothers Ltd (KBL), which however advised its shareholders to reject the resolution.

DSP Investment Managers Private Ltd (DSPIM) will buy a nearly 10% stake in Equitas Small Finance Bank for an undisclosed amount, after approval by the Reserve Bank of India. The proposed acquisition of shares by DSPIM would be consistent with the merger scheme of Equitas Holdings (holding company) with the bank, he said.

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UltraTech Cement Limitedannounced the launch of Birla White Wall Care Putty’s third plant in Nathdwara, Rajasthan with a capacity of 4 LMT per year at a total cost of ₹187 crore. The two existing factories are located in Kharia in Rajasthan and Katni in Madhya Pradesh. The company now has a Wall Care Putty capacity of 13.0 LMT per year, further strengthening its market position.

Mahindra Lifespace Developers Limited has launched its residential project, “Mahindra Citadel Phase 1” in Pimpri Chinchwad, Pune region.

Khandwala Securities Ltd(KSL) announced that Ziksu Capital has signed an engagement letter with KSL, a Tier 1 merchant banker, as an advisor to facilitate India entry strategy and cross-border transaction advisory for the launch of Ziksu in India next year with mobile financial products for Indian international students embarking on their educational journey to Australia.

Navratna Defense PSU, Bharat Electronicssigned a Memorandum of Understanding with Advanced Weapons and Equipment India Limited (AWEIL), a defense PSU, to jointly meet the requirements of the Indian defense and export markets. The MoU aims to leverage the complementary strengths and capabilities of BEL and AWEIL to seize domestic and export opportunities in the areas of air defense.

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