Stocks in the news: Airtel, Colgate, Tata Power, Lupin, Coforge and Bayer Crop

Bharti Airtel: The telecom major has acquired around a 9 per cent stake in renewable energy firm Avaada Clean TN Project for about Rs 7.88 crore in an all-cash deal.

Colgate-Palmolive (India): The leading oral care products maker announced to appoint former HUL Executive Director Prabha Narasimhan as its Managing Director and CEO. The present Managing Director and CEO Ram Raghavan is promoted to the global Enterprise Oral Care role for parent firm.


Tata Power: The electric-vehicle charging infra provider has collaborated with Enviro – the facility management wing of real estate developer Vatika Group – to install 59 EV charging points at its properties here. The EV chargers will be installed at 18 locations across the properties of Vatika Group in the city.

Bayer CropScience: The agri chemical player said its parent firm Bayer AG has signed a definitive agreement with global private equity firm Cinven to sell its environmental science professional business for USD 2.6 billion.

Lupin: The rugmaker said it has launched its first reference laboratory under the diagnostics division in Kolkata. The company had forayed into the diagnostics segment in December last year as part of its strategy to provide integrated healthcare in India.

Exide Industries: The storage battery major has forged a multi-year technical collaboration with a Chinese company SVOLT Energy Technology for lithium Ion battery manufacturing in India.

RailTel: The the railway PSU jumped 67 positions to rank 124th in the recently announced ‘Fortune India Next 500 list of Year 2022’ list, It was ranked 197 in the 2021 list of top midsize companies operating in India. RailTel is one of the largest neutral telecom infrastructure services providers in the country.

Coforge: The promoter of the IT company,(formerly NIIT Technologies), Hulst BV, offloaded nearly 10 per cent stake in the IT company for an estimated amount of Rs 2,560 crore through open market transactions. Hulst BV sold a total of 60 lakh shares, aggregating to 9.85 per cent stake in the company.

Kirloskar Ferrous Industries: The manufacturer of pig iron and grey iron castings, has picked up a majority stake in specialised seamless tube manufacturer Indian Seamless Metal Tubes for Rs 670 crore.

MMTC: The state run mineral and mining player said it has executed a share purchase agreement to sell its entire stake in Neelachal Ispat Nigam to Tata Steel Long Products Ltd as part of the disinvestment drive of the government. In January, the government approved the sale of loss-making NINL to Tata Steel Long Products for Rs 12,100 crore.

UCO Bank: The state run lender has entered into an agreement to acquire 3 per cent stake in India Debt Resolution Company for Rs 1.50 crore.. UCO Bank became one of the stakeholders of IDRCL on March 9, 2022. The bank’s holding in the company will be 3 per cent, therefore no approval is required.

Supreme Petrochem: The board of petrochemicals player has approved Phase II expansion of its expandable polystyrene (EPS) plant at Nagothane, Maharashtra by 30,000 MTA. The capital cost for these capital expenditure schemes will be met from the company’s internal accruals.

RattanIndia Enterprises: The trading and commercep players has forayed into the drone business in the country through its wholly-owned subsidiary NeoSky and expects the commercial rollout of products in the first quarter of 2023.

Aavas Financiers: UK’s development finance institution CDC Group invested Rs 360 crore in a Social Bond program by the housing finance company. The investment will be made in the form of rupee-denominated bonds (Masala Bonds) and will be listed as a social bond, in alignment with the International Capital Market Association’s Social Bond Principles.

Shipping Corporation of India: Life Insurance Corporation of India sold a 2 per cent equity stake in the company via open market transactions. With this, LIC’s shareholding in the company dropped to 6.03 per cent.

BLS International: The visa outsourcing company said it expects a pick up in visa demand with India deciding to resume international flight services from March 27 amid a decline in COVID-19 cases.