On June 4, 2024, the Indian stock markets experienced significant volatility due to the unexpected results of the general elections. The Nifty index plunged 5.93% to 21,884.5, marking its worst fall since March 2020. Similarly, the Sensex tanked 5.74% to 72,079.05, the most significant decline since May 2020. The rising India VIX index also added …
One of the prominent airlines, SpiceJet, plans to raise more funds. On June 5, 2024, SpiceJet Chief Ajay Singh announced that the airline plans to raise approximately USD 250 million in the coming months to enhance its operations. The budget carrier is navigating various challenges, including issues with lessors and debt, with Singh noting that …
Bharat Parenterals Ltd has announced that it will purchase an additional 9,985,477 equity shares of its subsidiary, Innoxel Lifesciences Pvt Ltd, on a preferential basis. Each share has a face value of ₹10 and will be acquired at a premium of ₹54.90, making the total price per share ₹64.90. The target entity is Innoxel Lifesciences …
The recent election result was a major shocker for the stock market. Expectations were high for a strong majority of the BJP government, especially after the exit poll results, and the market had already priced in the anticipation of a BJP-led government continuing their capex policy. However, the outcome was a coalition government, leading to …
On June 5, 2024, Godrej Properties informed in a stock exchange filing that pursuant to the Share Purchase Agreement dated June 5 between Godrej Properties Limited (GPL), Godrej Fund Management And Investment Advisors Private Limited (GFMIAPL), and Godrej Green Homes Private Limited (GGHPL), GPL sold a 5% stake in the equity share capital of GGHPL …
On June 5, 2024, Titagarh Rail Systems Limited (TRSL) informed in an exchange filing about the opening of a new engineering centre in Bangalore, elevating its innovation and design journey. The company stated that the state-of-the-art facility will be dedicated to new product development for Train Control & Monitoring Systems (TCMS) and advanced Propulsion Systems, …
On June 6, 2024, Mphasis Limited announced that it had achieved the Specialised Pega Partner Distinction in the Americas for Insurance. As a key collaborator with Pega, a premier provider of enterprise AI decisions and workflow automation platforms, Mphasis leverages its deep expertise in Pega, particularly in the insurance sector. This allows them to develop …
On June 05, 2024, the Ministry of Defence (MoD) took a significant step towards enhancing accessibility for defence pensioners by signing Memoranda of Understanding (MoUs) with 4 leading banks. This strategic collaboration expands the reach of the SPARSH (System for Pension Administration Raksha) initiative by onboarding the Bank of India, Canara Bank, Central Bank of …
Torrent Pharmaceuticals Limited (Torrent), a leading player in the Indian pharmaceutical industry, announced a strategic move to match the growing burden of Gastroesophageal Reflux Disease (GERD) in the country. Torrent Pharmaceuticals has entered into a non-exclusive patent licensing agreement with Takeda Pharmaceuticals to commercialise Vonoprazan, a novel potassium-competitive acid blocker (P-CAB), in India. Torrent will …
The Indian Energy Exchange (IEX), India’s leading power-trading platform, announced impressive results for the month of May 2024. The exchange witnessed a surge in overall volume, reaching 10,633 Million Units (MU), reflecting a year-over-year (YoY) increase of 28.9%. Key Highlights Electricity Trading: Electricity volumes reached 9,568 MU in May 2024, representing a substantial 21% growth …
