Stocks in news: Chennai Petroleum, LIC, Brigade Ent
Domestic benchmark indices extended their rally on Wednesday, closing higher for the second straight session. Gains in banking, auto and consumer stocks buoyed sentiment, with the Nifty ending at 23,306.45, up 394.05 points (1.72%), while the BSE Sensex reclaimed the 75,000 mark to settle at 75,273.45, rising 1,205 points (1.63%).
The stock markets were closed on Thursday due to Shri Ram Navami holiday.
When markets resume trading today, Chennai Petroleum, LIC, Brigade Enterprises, Sadbhav Engineering, DCX Systems, Aequs, Fino Payments Bank will be in focus due to various related developments.
Chennai Petroleum, LIC, Brigade Enterprises, Sadbhav Engineering, DCX Systems, Aequs, Fino Payments Bank
Chennai Petroleum
State-run Chennai Petroleum Corporation's board on Thursday announced an interim dividend of Rs 8 per share for the financial year 2025-26. The company has fixed Thursday, April 2 as the record date to determine shareholders who will be eligible to receive the dividend. The interim dividend will be paid to the eligible shareholders on or before April 25, 2026, a company filing to the exchanges said.
LIC
The Life Insurance Corporation of India on Wednesday informed the exchanges about receiving a demand order for income tax and interest. The order is appealable before the Commissioner of Income Tax (Appeals). The total demand order was worth nearly Rs 7,100 crore, in which Rs 6,147 crore is accounted as tax while Rs 953 crore as interest.
Brigade Enterprises
The company on Thursday informed the exchanges that it has launched a residential project, Brigade Lumina, a net-zero carbon development spread across 4.11 acres in the rapidly developing corridor of Northwest Bengaluru on Tumkur Main Road. The joint development project has an estimated revenue potential of over Rs 700 crores and is offering 2-3 bedroom units ranging from around 1,100 to 1,800 square feet.
Sadbhav Engineering
Sadbhav Engineering Limited has entered into a Master Restructuring Agreement (MRA) with a majority of the consortium lenders for its debt restructuring plan. An MRA was executed on Wednesday, March 25 by the company, IDBI Trusteeship Services Limited (as a security trustee and as a debenture trustee) and six lenders viz. Punjab National Bank, Union Bank of India, Axis Bank Limited, Assets Enterprise Limited, Bank of India and Yes Bank.
The MRA has been executed in relation to debt aggregating to Rs 1,517 crores (comprising a fund-based exposure of Rs 906.35 crore and non-fund based limits of Rs 610.36 crore). The fund-based exposure will be restructured as convertible debentures.
DCX Systems
The company has received purchase orders from its customers amounting to about Rs 8.92 crores for the manufacture and supply of cable and wire harness assemblies. Apart from this, its wholly-owned subsidiary Raneal Advanced Systems Pvt. Ltd., has received purchase order(s) from its customers amounting to about Rs 9.95 crores.
Aequs
Aequs Limited has signed a non-binding MoU with the Karnataka government to facilitate regulatory approvals for expanding its manufacturing facilities in Belagavi and Hubballi through its subsidiaries. The company plans a total investment of around Rs 2,856 crore over five years starting FY26. The company was listed in December.
Fino Payments Bank
Fino Payments Bank said its MD & CEO Rishi Gupta has been granted bail by a Hyderabad court on March 26. The bank clarified that the ongoing investigation pertains to certain program managers across multiple banks and is not related to its GST compliance. It added that business operations remain stable, with continued growth in deposits and referral assets, and reaffirmed its commitment to governance, transparency, and full cooperation with authorities.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The stock markets were closed on Thursday due to Shri Ram Navami holiday.
When markets resume trading today, Chennai Petroleum, LIC, Brigade Enterprises, Sadbhav Engineering, DCX Systems, Aequs, Fino Payments Bank will be in focus due to various related developments.
Chennai Petroleum, LIC, Brigade Enterprises, Sadbhav Engineering, DCX Systems, Aequs, Fino Payments Bank
Chennai Petroleum
State-run Chennai Petroleum Corporation's board on Thursday announced an interim dividend of Rs 8 per share for the financial year 2025-26. The company has fixed Thursday, April 2 as the record date to determine shareholders who will be eligible to receive the dividend. The interim dividend will be paid to the eligible shareholders on or before April 25, 2026, a company filing to the exchanges said.
LIC
The Life Insurance Corporation of India on Wednesday informed the exchanges about receiving a demand order for income tax and interest. The order is appealable before the Commissioner of Income Tax (Appeals). The total demand order was worth nearly Rs 7,100 crore, in which Rs 6,147 crore is accounted as tax while Rs 953 crore as interest.
Brigade Enterprises
Sadbhav Engineering
Sadbhav Engineering Limited has entered into a Master Restructuring Agreement (MRA) with a majority of the consortium lenders for its debt restructuring plan. An MRA was executed on Wednesday, March 25 by the company, IDBI Trusteeship Services Limited (as a security trustee and as a debenture trustee) and six lenders viz. Punjab National Bank, Union Bank of India, Axis Bank Limited, Assets Enterprise Limited, Bank of India and Yes Bank.
The MRA has been executed in relation to debt aggregating to Rs 1,517 crores (comprising a fund-based exposure of Rs 906.35 crore and non-fund based limits of Rs 610.36 crore). The fund-based exposure will be restructured as convertible debentures.
DCX Systems
The company has received purchase orders from its customers amounting to about Rs 8.92 crores for the manufacture and supply of cable and wire harness assemblies. Apart from this, its wholly-owned subsidiary Raneal Advanced Systems Pvt. Ltd., has received purchase order(s) from its customers amounting to about Rs 9.95 crores.
Aequs
Aequs Limited has signed a non-binding MoU with the Karnataka government to facilitate regulatory approvals for expanding its manufacturing facilities in Belagavi and Hubballi through its subsidiaries. The company plans a total investment of around Rs 2,856 crore over five years starting FY26. The company was listed in December.
Fino Payments Bank
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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