Pune-based Deepak Fertilisers and Petrochemicals Corporation said on Monday it would be investing Rs 400 crore (Rs 4 billion) to set up a greenfield ammonium nitrate plant in Paradip in Orissa.
The low-profile chief of Deepak Fertilisers on Wednesday bought 24.46% shareholding in MCF.
Pune firm buys 24.46% stake from open market to become largest shareholder.
Poddar had earlier said he would sell his stake in Mangalore Chemicals to the highest bidder.
Deepak Fertiliser's promoter might offer to buy Saroj Poddar's stake.
The country's first specialty mall for interiors and exteriors will come up at Pune in the second quarter of 2006-07.\n\n
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
Mangoes from India are popular in the Middle East, the Far East, the United States and European countries.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
Ten months after new Sebi norms set in, some senior directors still hold more board seats than allowed.
The S&P BSE Sensex plunged 301 points to close at 25,490 and the Nifty50 fell 86 points to end at 7,815.
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