Shares of Avenue Supermarts, which operates supermarket chain DMart, rallied 5 per cent to Rs 2,361, also its new high on the BSE on Thursday, after its board approved the launch of a qualified institutional placement (QIP) by the promoters.

The stock was trading higher for the fourth straight day, thus gaining 14 per cent during the period, against a 4 per cent rise in the S&P BSE Sensex.

Ajanta Pharma surged 11 per cent on Thursday, a day after the company reported strong set of numbers for December quarter of the current fiscal (Q3FY20).

The company repored 61 per cent year-on-year (YoY) jump in its net profit at Rs 108 crore for the quarter ended December 31, 2019. It had posted profit of Rs 67 crore in the year-ago period. Revenue from operation stood at Rs 651 crore, up 34 per cent YoY while earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 73 per cent YoY to Rs 186 crore.

At least three people were killed and 179 injured on Wednesday when a Pegasus Airlines plane flying into Istanbul’s Sabiha Gokcen airport skidded off the wet runway, caught fire, and split into three after landing in rough weather.

Turkey's Health Minister, Fahrettin Koca, confirmed the reports that said that the three people had died in the hospital while 179 more were injured. The plane was carrying a total of 183 people including 177 passengers and six crew members, Istanbul Governor Ali Yerlikaya had earlier said.

The number of confirmed fatalities from China's coronavirus outbreak rose to at least 560, after authorities in hardest-hit Hubei province reported 70 new deaths on Thursday.

In its daily update, the health commission in Hubei also confirmed another 2,987 new cases.

Avenue Supermarts has launched its qualified institutional placement (QIP) programme to raise at least Rs 4,000 crore.

The country’s most valuable listed retail chain will issue 20 million fresh shares at a base price of Rs 1,999. Avenue Supermarts’ board will meet on February 10 to approve the QIP price.

Bharti Airtel on Wednesday pitched for a healthy telecom sector with three players, and said Vodafone Idea’s survival will be good from the ‘investment and reputation’ point of view for India.

In the company’s post-earnings conference call, Bharti Airtel’s Chief Financial Officer (CFO) Badal Bagri said the telecom sector was large enough to accommodate three players. “On Vodafone, I think my view is that they will remain and I wish that they thrive.

Within eight months of challenging the National Company Law Tribunal’s (NCLT’s) order giving a green signal to Reliance Jio Infocomm’s proposed demerger, the income-tax (I-T) department is learnt to have found merit in the appellate tribunal’s December ruling, which dismissed the I-T petition.

The tax department shared its opinion and the rationale in a communique to the law ministry 10 days ago, where it sought the ministry’s legal opinion on the matter to decide further course of action, said an official privy to the development.

China's largest SUV manufacturer Great Wall Motors (GWM) on Wednesday said it will invest $1 billion in India, which is set to be among the top three auto markets globally.

The $1 billion (about Rs 7,100 crore) investment will be made in a phased manner in areas including research and development, manufacturing, and sales and marketing.

Disney has announced that its subscription-based streaming service Disney Plus, which launched in the US in November last year, will arrive in India on March 29 through its Hotstar app.

The announcement was made by Disney CEO Robert Iger during the company's quarterly earnings call on Tuesday.

Theproposed levy of1 per cent TDS on e-commerce transactions announced in the recent Budget may seemlike a harmless 'papercut' but could impactworking capital of small businesses,Amit Agarwal, country head of Amazon India and Chairman of industry body IAMAI said on Wednesday.

Agarwal said the focus for India should be on "removing friction and bottlenecks" and added that the target of USD 1 trillion digital economy is not far fetched for a country that is seen as a digital powerhouse.

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