Slowing demand worries drag IT stocks down to seven-year low on Nifty50
The IT sector’s dominance on the Nifty50 hit a seven-year low due to US recession fears. TCS, Infosys, HCL, Wipro, and Tech Mahindra lost over 28%, shedding ₹10 lakh crore.
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Aurobindo Pharma’s CuraTeQ Biologics completes Phase 1 study of bone drug
Aurobindo Pharma’s CuraTeQ Biologics reported successful trial results for BP16, a bone treatment drug. BP16 showed bioequivalence to Prolia in trials with 204 volunteers.
Sanofi India Managing Director Rodolfo Hrosz to step down, effective April 30
The board of directors accepted Hrosz’s resignation during a meeting held on April 9 and expressed appreciation for his significant contributions during his tenure. Hrosz will cease to be a key managerial personnel, senior management personnel, and a member of…
IndiGo becomes world’s most valuable airline by market capitalisation
IndiGo is the only airline among the top ten globally that has recorded a gain in stock price so far this year. Its shares have rallied 14% year-to-date, hitting a record high on Wednesday (April 9). Meanwhile, shares of Delta…
Coromandel International signs MoU with Saudi Arabia’s Ma’aden for long-term fertiliser supply
Coromandel International Ltd signed an MoU with Saudi Arabia’s Ma’aden for long-term supply of DAP and NP/NPK fertilisers to benefit Indian agriculture.
Bank of India cuts repo-based lending rate following RBI’s rate cut
Shares of Bank of India Ltd ended at ₹106.80, down by ₹2.45, or 2.24%, on the BSE.
RBI likely to rationalise gold loan norms, not tighten them: Elara Securities
Shweta Daptardar, Vice President-Diversified Financials at Elara Securities said that Muthoot Finance, the largest gold loan lender, is best placed to handle any regulatory changes.
FMCG stocks shine as the sector outperforms Nifty this week
Stocks like Nestle India, Godrej Consumer Products, Britannia Industries, Emami, Hindustan Unilever, and Colgate-Palmolive (India) were trading with gains between 2% and 4%.
BHEL signs 10-year MoU with Nuovo Pignone for fertiliser sector compressor revamps
Shares of Bharat Heavy Electricals Ltd ended at ₹211.80, up by ₹0.85, or 0.40%, on the BSE.
Tata Steel’s Dutch arm to cut 1,600 jobs in major overhaul ahead of €5 billion green steel shift
Tata Steel Nederland announced a transformation programme to enhance competitiveness and green steel transition, cutting 1,600 jobs to support a €5 billion green steel initiative.