SUNAINA

Akums Drugs and Pharmaceuticals Ltd’s shares listed at Rs 725, marking a 6.77% premium over the issue price of Rs 679, and later soared 15.55% to Rs 784.65 on the BSE. The company’s market valuation hit Rs 11,806.91 crore in early trade. The IPO, priced between Rs 646-679, was heavily oversubscribed, receiving 63.56 times subscription. … Read more

The rupee gained 25 paise to open at 83.84 against the US dollar on Tuesday, recovering from an all-time low of 84.09. This rise follows a rebound in the domestic equity market, despite ongoing global risk aversion and geopolitical tensions in the Middle East. On Monday, the rupee fell sharply as foreign portfolio investors exited … Read more

Cargo traffic at 12 major Indian ports increased by 5.92% to 70.08 million tonnes (MT) in July, up from 66.17 MT a year earlier, according to the Indian Ports Association. Cochin Port led with a 24.77% growth, followed by Visakhapatnam (10.80%) and JN Port (9.07%). Chennai, Deendayal, and V.O. Chidambaranar ports also saw notable increases. … Read more

Markets regulator Sebi has proposed a uniform timeline to ensure timely credit and trading of bonus shares, aiming for T+2 trading after the record date. Currently, bonus shares can be credited and available for trading within 2-7 working days post-record date, leading to inconsistencies. Sebi’s proposal seeks to standardize these timelines, ensuring bonus shares are … Read more

Shares of Titan fell almost 3% on Monday following a 5.42% drop in its consolidated net profit to Rs 715 crore for Q1 2024, compared to Rs 756 crore a year ago. The stock ended at Rs 3,374.20 on the BSE, and declined by 2.35% to Rs 3,380.85 on the NSE. Despite a 12.64% rise … Read more

The Reserve Bank of India (RBI) has proposed new regulatory principles for managing model risks in credit for banks and other regulated entities. The draft circular emphasizes the need for a Board-approved policy covering the entire model life cycle, including governance, development, validation, and ongoing monitoring. These guidelines aim to ensure prudent credit risk management … Read more

Adani Energy Solutions Limited (AESL) has successfully raised ₹8,373.10 crore through a Qualified Institutional Placement (QIP), marking the largest QIP in India’s power sector. This is AESL’s first equity raise since its demerger from Adani Enterprises Limited in 2015. The QIP, launched on July 30, attracted bids 6 times the base deal size of ₹5,861 … Read more

Bharti Airtel’s consolidated profit surged 2.5 times to Rs 4,160 crore in Q1 2024-25, driven by improved average revenue per user (ARPU) and a Rs 735 crore exceptional gain. The company’s revenue rose by 2.8% to Rs 38,506.4 crore, while capital expenditure dropped by 23.44% to Rs 8,007 crore. Airtel’s customer base grew 7.3% YoY … Read more

Indian exporters are worried about disruptions in trade with Bangladesh due to the ongoing political crisis there. The resignation of Prime Minister Sheikh Hasina and violent protests have led to a foreign exchange shortage, affecting exports of perishable goods and other items. Exports to Bangladesh, including cotton, machinery, and food products, are facing challenges, with … Read more

Reliance Industries Ltd has advanced to No.86 on the Fortune Global 500 list for 2024, up from No.88 last year and No.155 in 2021. The company reported revenues of USD 108.8 billion and a profit of USD 8.4 billion. Indian firms on the list include LIC at No.95, SBI at No.178, and Tata Motors at … Read more