LIC, the state-owned insurance behemoth, has seen a 59 per cent rise in value of its investments in Adani group companies in 2023-24 fiscal year after the conglomerate made a smart recovery since being hammered by a damning short seller report. The value of LIC’s investment in seven Adani group companies has soared from ₹38,471 crore as on March 31, 2023, to ₹61,210 crore on March 31, 2024. Last year, the insurance giant faced intense scrutiny over its decision to invest in the Adani group amidst a political slugfest after allegations of stock manipulation fuelled by Hindenburg report.

Glenmark Pharmaceuticals is recalling 6,528 bottles of a medication used to treat high blood pressure in the American market due to failed dissolution specifications, the US health regulator said. The US-based arm of the Mumbai-headquartered drug firm is recalling the affected lot of Diltiazem Hydrochloride extended-release capsules, the US Food and Drug Administration said in its latest Enforcement Report. The affected lot has been produced in India and is being recalled by New Jersey-based Glenmark Pharmaceuticals Inc for “failed dissolution specifications”, the USFDA said.

Route Mobile’s public shareholders have tendered shares worth about ₹2,500 crore at current price for the company’s ongoing open offer, according to a regulatory filing. The open offer has been triggered with Belgium-based Proximus Group, through its subsidiary, initially acquiring a 57.56 per cent stake in enterprise messaging firm Route Mobile for ₹5,922.4 crore in an all-cash deal. The acquisition has triggered an open market offer for the sale of 26 per cent of Route Mobile in compliance with regulatory guidelines. The tendered period has closed now.

Varun Beverages has started commercial production of soft drinks and energy drinks from its production facility at Gorakhpur, Uttar Pradesh. The Jaipuria family-promoted firm will also start juices and value-added dairy products from the Gorakhpur facility.

The rights issue committee of Hindustan Construction Company has approved raising ₹350 crore by allotting 16.66 crore shares at a price of ₹21 each.

Shilpa Medicare has raised ₹500 crore through a QIP issue that saw participation from funds managed by ace investors such as Sunil Singhania and Madhusudan Kela. ICICI Prudential and Bandhan Mutual Fund too participated in the QIP issue, which was priced at ₹455 a share.

The board of Hazoor Multi Projects Ltd has approved a proposal to raise ₹486 crore through warrants. The company said it looks to utilise the proceeds to enhance financial resources to fund its growth.

DLF has started construction of its new 26-27 lakh sq ft shopping mall in Gurugram at a cost of around ₹2,200 crore as part of its expansion plan amid rebound in retail consumption post-Covid. At present, DLF has a retail footprint of around 42 lakh sq ft comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. DLF Group has land banks to develop 215 million sq ft across residential and commercial segments.

Rail Vikas Nigam Ltd has received Letter of Acceptance (LOA) from NF Railway for engineering, procurement, construction of Design, Supply, Erection, Testing & Commissioning of 25 kV, 50 Hz, Single Phase, AC, Electrification. The cost of work is ₹95.95, crore including applicable taxes.

Patanjali Foods in a quarterly update said revenue from the Edible Oil segment in Q4 showed modest single-digit growth compared to the previous quarter, accompanied by a favorable EBITDA margin. Furthermore, the segmental volume in Q4 experienced mid-single-digit growth year-on-year, while FY24 witnessed double-digit growth. In the March quarter, the revenue of the Food & FMCG segment remained resilient, demonstrating high single-digit revenue growth while maintaining stable EBITDA margins.

Hindustan Zinc Ltd (HZL) has entered into a pact with Bhopal-based VEXL Environ Projects for setting up a pilot project for converting waste products into usable resources. The pact aligns with Hindustan Zinc’s waste management strategy of reducing, recycling, reusing and reclaim.

ISMT has received two contracts from Oil and Natural Gas Corporation Ltd for supply regular casing pipes. The aggregate value of two contracts is around ₹343.72 crore.

Granules India Ltd’s Unit V facility located at Anakapally, Visakhapatnam, Andhra Pradesh, India underwent a USFDA inspection from April 8 to 12. This audit was a Pre Approval Inspection (PAI) and cGMP audit for Active Pharmaceutical Ingredients (APIs) and Formulations (FDs); oncology and non-oncology. The audit resulted in Zero 483’s.

The board of VMS Industries has approved issue of up to 80 lakh shares of face value of ₹10. each at an issue price of ₹35 a share aggregating up to ₹28 crore to all the existing eligible equity shareholders on rights basis.

The board of Janus Corporation has approved the acquisition of 28.80 lakh equity shares i.e. 100 per cent equity shareholding of Forever Business Solutions Private Ltd for ₹13.82 crore at ₹48 a share; and by issuance and allotment of up to 1,15,20,000 fully paid-up equity shares of the company at a price of ₹12 a share for a consideration other than cash (share swap) (for discharge of entire purchase consideration) to the shareholders of FBSPL.