By Malvika Gurung
Investing.com -- HDFC (NS: HDFC ): The country’s largest mortgage lender has sold 10% of its stake in subsidiary HDFC (NS: HDFC ) Capital Advisors to Abu Dhabi Investment Authority, under a share purchase agreement for sale at Rs 184 crore.
Bharat Petroleum (NS: BPCL ): The government has withdrawn its offer to sell the entire 52.98% holding in the company, as most bidders are not participating in the privatisation process, due to the current global energy market scenario.
ONGC (NS: ONGC ): The state-owned giant will invest Rs 31,000 crore over the next 3 years to explore the Indian sedimentary basin for fuel reserves that could help India become self-reliant in the energy sector.
Hindalco (NS: HALC ): The mining company posted its best-ever quarterly net profit in the March quarter at Rs 3,851 crore, while its consolidated revenue surged 37.7% YoY to Rs 55,764 crore, led by a rise in the prices of commodities and higher volumes.
Union Bank of India (NS: UNBK ): The state-owned lender’s board of directors have approved raising up to Rs 8,100 crore by issuing equity shares.
Torrent Pharmaceuticals (NS: TORP ): The pharma company has entered into an agreement with Dr Reddy for acquiring four of its brands - Styptovit-E, Finast, Finance, and Dynapress.
Companies including GAIL (NS: GAIL ), United Spirits (NS: UNSP ), Nykaa (NS: FSNE ), Jindal Steel & Power (NS: JNSP ), Glenmark Pharmaceuticals (NS: GLEN ), Jubilant Industries (NS: JUBL ), Ruchi Soya (NS: RCSY ), and PB Fintech (NS: PBFI ), among others, will release their earnings results for the March quarter on Friday.
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