Allcargo, BPCL, Power Grid, REC, RIL, Whirpool

Allcargo Logistics: The company is considering a stake sale in its container shipping firm ECU Worldwide, Bloomberg reported citing people familiar with the matter. Allcargo is seeking a deal that would value ECU at about $1 billion, the people said.

BPCL: Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) plans to invest over ₹1 lakh crore over the next five years in raising petrochemical production capacity, gas business, clean fuel and augmenting marketing infrastructure, its chairman Arun Kumar Singh said on Monday.

Finolex: After InGovern Research, another proxy advisory firm, Stakeholders Empowerment Services (SES), has advised shareholders of Finolex Cables Ltd to vote against the appointment of certain directors at the company’s 29 September annual meeting.

HDFC: India’s largest mortgage lender on Monday said it will raise up to ₹6,000 crore by issuing bonds on a private placement basis to augment its long term resources. The bonds in the nature of secured redeemable non-convertible debentures (NCDs) have a base issue size of ₹3,000 crore with the option to retain oversubscription up to ₹3,000 crore, HDFC said in an exchange filing.

Maruti Suzuki: The carmaker has told its component suppliers to be ready for the production of 160,000-180,000 cars and SUVs in October, as the nation’s largest passenger vehicle maker is making arrangements to secure supply of chipsets through multiple channels, according to a news report.

Power Grid Corporation: The state-owned company has received shareholders’ approval to raise up to ₹6,000 crore through bonds or debentures on a private placement basis.

RBL Bank: The Reserve Bank of India (RBI) on Monday imposed a fine of ₹2 crore on RBL Bank Ltd for flouting norms related to the opening of bank accounts and board composition.

RIL: The company is in talks to buy a stake in Indian mobile content provider Glance InMobi Pte, according to people familiar with the matter. The conglomerate is considering investing about $300 million in the unicorn backed by Alphabet Inc.’s Google, the people said, asking not to be identified as the information is private. The transaction could be completed as soon as in the next few weeks, one of the people said.

REC: The state-owned company has received shareholders’ approval to raise up to ₹85,000 crore through issuance of non-convertible bonds or debentures. The funds would be raised on private placement basis in one or more tranches, according to the company.

Whirlpool of India: The company has inked a pact to acquire an additional 38% stake in Elica PB India for around ₹420 crore to bring its total equity ownership to 87%.