Buzzing Stocks: RIL, ICICI Lombard, Dr Reddy#39;s Labs and other stocks in news today

Reliance Industries: Subsidiary Reliance Strategic Business Ventures acquired 2,28,42,654 equity shares in Strand Life Sciences for Rs 393 crore. [Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.]

Punjab National Bank: On September 10, the bank will consider raising capital through the issuance of Basel-III compliant additional Tier-1 Bonds and/or Tier-II bonds in one or more tranches.

Ashoka Buildcon: The company has received the letter of award from Adani Road Transport for the execution of civil and associated works on engineering, procurement & construction (EPC) for six- laning of the national corridor NH-19 from Pangarh to Palsit in West Bengal. The accepted EPC contract price is Rs 1,567.45 crore.

Dr Reddy’s Laboratories: The company entered into a definitive agreement with Citius Pharmaceuticals to sell its rights to anti-cancer agent E7777 (denileukin diftitox).

Bank of India: LIC acquired an additional 3.87% stake in the bank via QIP, raising its shareholding to 7.05% from 3.17%.

McDowell Holdings: Recovery Officer I DRT (debt recovery tribunal) II sold an additional 81,991 shares in McDowell Holdings at Rs 37.63 per share, whereas Baisiwala Sameer Ajay bought 79,582 shares in McDowell at Rs 37.67 a share on the NSE, the bulk deals data showed.

GSS Infotech: Radhika Dubash acquired additional 1.11 lakh equity shares in GSS Infotech at Rs 74.88 a share on the NSE, the bulk deals data showed.

Engineers India: Chennai Petroleum Corporation has entrusted the execution of EPCM-1 with MPMC & EPCM-3 services for 9 MMTPA Cauvery Basin Refinery (CBR) project at Nagapattinam, Tamil Nadu to Engineers India. The order is valued at Rs 1,039 crore with a total project schedule of 42 months for mechanical completion.

HealthCare Global Enterprises: The company has acquired oncology hospital labs and clinical trials business from Strand Lifesciences.

ICICI Lombard: The company has received regulatory and other approvals from the Insurance Regulatory and Development Authority of India (IRDAI) for the demerger of the general insurance business of Bharti AXA General.

Fermenta Biotech: The company reported a lower consolidated profit at Rs 11.31 crore in Q1FY22 against Rs 13.6 crore in Q1FY21. Its revenue rose to Rs 109.65 crore from Rs 94.44 crore YoY.

Kirloskar Industries: India Capital Fund sold its entire 2.23% stake in the company via an open market transaction on September 3.

Abans Enterprises: The company appointed Reshma Gwalani as the Chief Financial Officer.

Rajshree Sugars & Chemicals: The company reported a loss of Rs 14.67 crore in Q1FY22 against a loss of Rs 14.88 crore in Q1FY20, revenue rose to Rs 105.26 crore from Rs 96.23 crore YoY.

Force Motors: The company announced the production of 2,148 vehicles and sales of 1,987 vehicles in August 2021.

Kallam Textiles: Andhra Pradesh government released Rs 33 crore to the company towards reimbursement of interest subsidy under the Andhra Pradesh— Industrial Development Policy (IDP) 2015-20 and the amount was received by the company.

Jammu & Kashmir Bank: The RBI has given the government of Jammu and Kashmir the approval to acquire 16,76,72,702 shares on a preferential basis (upto 74.24%) in the bank.

Action Construction Equipment: The company approved the raising of funds by issuance of securities by way of private offerings for up to Rs 175 crore.

Spandana Sphoorty Financial: Valiant Mau Part Offshore Ltd & others bought 1.03 lakh equity shares in the company via an open market transaction, raising stake to 5.03% from 4.87%.

Unison Metals: The company approved the issue of bonus equity shares in the proportion of four equity shares for every one share held by shareholders.