Avenue Supermarts, ONGC and Bank of India to see some action today

Atul Ltd. | Chemicals | Chemicals & Fertilizers | BSE: 500027 | NSE: ATUL

12 Nov 2021 Evaluate

Avenue Supermarts has purchased retail space in Bengaluru valued at over Rs 88 crore. Avenue Supermarts, which owns DMart stores, has purchased a total of 67,000 square feet in Hobli, Varthur, which covers three floors and includes 135 parking spaces.

India's petroleum ministry has asked state-run explorer Oil and Natural Gas Corporation (ONGC) to consider selling a 60% stake in its two major oil and gas fields to private companies to boost output. India, the world's third biggest oil consumer and importer, wants to quickly monetise its oil and gas reserves and has been asking ONGC for years to raise production.

As part of the customer outreach programme, state-owned Bank of India (BoI) has disbursed about Rs 12,500 crore under the special drive. The credit outreach programme was launched on October 16 by all banks across the country on the advice of Finance Minister Nirmala Sitharaman to expand loan growth to support the economic revival.

Atul has formed Atul Healthcare (AHCL) as a Wholly-owned subsidiary of the Company. The date of incorporation is November 10, 2021. Subject to required approvals, if any, AHCL will undertake, directly or indirectly, new project in healthcare industry.

Sun Pharma is gearing up to launch Merck Sharpe Dohme (MSD) and Ridgeback’s COVID-19 antiviral drug molnupiravir under the brand name Molxvir in India. Earlier this year, Sun Pharma had signed a non-exclusive voluntary licensing agreement with MSD to manufacture and supply molnupiravir in India and to over 100 low and middle-income countries (LMICs).

Realty developer Migsun Group has cleared the stakes of HDFC from its SEZ project in Greater Noida in close to Rs 50 crore. Last year, the group had acquired Ansal's stake in Ansal IT City Park (SEZ) Tech Zone. Migsun Group will now have 100 per cent stake after acquiring HDFC's 37% stake and the rest of Ansal API. The group now plans to develop the 37.5 acre mixed-use project with built-to-suit Commercial, IT, and Industrial units.

ICICI Lombard General Insurance Company has joined Sahamati, a not-for-profit industry alliance for the Account Aggregator (AA) ecosystem. The company is the first non-life insurer to participate in the AA ecosystem and will be playing a role of a Financial Information User (FIU). With this foray, ICICI Lombard will be able to access the comprehensive, customer-consented financial information.