GAIL (India), Bodal Chemicals and Lupin to see some action today

GAIL (India) has acquired 5 percent stake of the Indian Energy Exchange (IEX) in its arm Indian Gas Exchange (IGX). The partnership between the IGX and GAIL is a significant development, which will go a long way and add robust value addition in development of the gas markets in the country. GAIL is committed towards development of gas-based economy in the country. The partnership between GAIL and IGX will benefit the gas sector as a whole and pave way for further development of the gas market, more trading through gas exchange and increase in capacity utilisation of pipelines.

Bodal Chemicals is planning to acquire Mawana Sugars’ Siel Chemical Complex (SCC) in Punjab. SCC is one of the largest players in the chlor-alkali segment in north India with current caustic soda capacity of 82,500 million tonnes per annum (MTPA). The company will acquire SCC at a total cost of Rs 137 crore on slump sale basis (plus stamp duty of around Rs 6 crore). Total land size is around 124 acres, of which around 60 acres is surplus. The proposed acquisition will help the company in diversification of its existing chemicals product line by adding new products.

Lupin has received approval for its Tavaborole Topical Solution, 5%, from the United States Food and Drug Administration (USFDA), to market a generic equivalent of Kerydin Topical Solution, 5%, of Anacor Pharmaceuticals, Inc. The product will be manufactured at Lupin's facility in Pithampur, India.

Mindstone Mall Developers, wholly owned subsidiary of The Phoenix Mills (PML), has acquired approximately 7.48 acres of prime land in Alipore, Kolkata for a total consideration of Rs. 3,000 million. The land parcel is strategically located on Diamond Harbour Road, Alipore, Kolkata. The land parcel has development potential of approximately 1.00 msf with the first phase of the development expected to be operational during FY25 subject to local and municipal approvals.

NTPC's joint venture NTPC SAIL Power Company had extended an undue favour to a private party by awarding routine maintenance work worth Rs 129.76 crore on nomination basis, ignoring Central Vigilance Commission (CVC) guidelines, government auditor CAG said. The work was awarded during 2013-14 to 2018-19.

Aster DM Healthcare has launched its 49 bedded dedicated 'Women and Children Care Hospital' at Whitefield. It includes 14-bedded Neonatal Intensive Care Unit and a seven bedded Paediatric Intensive Care Unit. While the entire Aster Whitefield project envisages atotal investment of Rs 200 crore, this phase 1 has beenestablished at an investment of Rs 25 crore.

Tata Motors’ Tata Nexon EV continues to expand its presence across India, exhibiting a significant growth across the western region in India. Since its launch in January 2020, the company has registered a volume growth of over 300% in West India, commanding a market share of 74% YTD (FY21). The car is witnessing maximum acceptability in Maharashtra, Gujarat, Goa and Madhya Pradesh, across 10 cities.