Ranjan Pai, chairman of Manipal Education and Medical Group, has pledged an investment of Rs 1,300 crore in the PharmEasy rights issue. This commitment was made through his family office, according to sources familiar with the matter.

This investment by Pai is part of a larger Rs 3,500 crore fundraising effort by the e-pharmacy company through the rights issue. The issue was oversubscribed at Rs 3,950 crore, but the company is only raising Rs 3,500 crore.

The price of 24-carat gold rose marginally by Rs 110 during early trade on Saturday, with ten grams of the precious metal selling at Rs 63,000, according to the GoodReturns website. The price of silver climbed Rs 1,000 with one kilogram of the precious metal selling at Rs 78,500.

The price of 22-carat gold rose Rs 100, with the yellow metal selling at Rs 57,750.

No-frills airline SpiceJet has seen a gradual increase in its domestic market share towards the end of the year, following a decline in the first half of 2023, DGCA data showed.

The airline, which recorded a share of 6.2 per cent in November, announced last month the addition of 44 flights on new and existing routes for the winter schedule. The carrier has recently added eight Boeing 737s, including four 737 Max planes, to its fleet.

The Centre’s nodal agency for cyber security, Indian Computer Emergency Response Team (Cert-In), has issued a high-risk warning for Samsung smartphones, flagging multiple vulnerabilities and emphasising the need for urgent updates of their operating systems.

The alert highlights security concerns and asserts that the phones are prone to vulnerabilities that can allow an attacker to snoop and access data on the device without the user’s knowledge.

Finance Minister Nirmala Sitharaman on Wednesday introduced two Bills in Parliament to immediately give effect to Customs and excise duty changes announced in the Budget and raise the age limits for president and members of the goods and services tax appellate tribunals (GSTATs).

The Provisional Collection of Taxes Bill, 2023, which seeks to replace the pre-Independence era Provisional Collection of Taxes Act, 1931, is aimed at curbing speculative activities, following changes in Customs and excise duties in the Budget.

The Ministry of Defence (MoD) has signed a landmark contract with Bharat Electronics Limited (BEL) in Pune worth Rs 5,336.25 crore for the procurement of electronic fuzes for the Indian Army. The contract, signed on Friday, will span over the next 10 years and comes under the "Manufacture of Ammunition for Indian Army by Indian Industry" initiative by the central government.

The contract aims to build up the Indian Army's ammunition stocks. Following the "Aatmanirbhar Bharat" vision, the deal will aim to minimise imports, achieve self-sufficiency in ammunition manufacturing, obtain critical technologies and secure stock affected by supply chain disruption.

Creditors of distressed thermal power firm Lanco Amarkantak Power will soon vote on a proposal to deal with Adani Power's Rs 4,100 crore unsought bid, according to a report by The Economic Times (ET). The resolution professional (RP) will move to the National Company Law Tribunal (NCLT) for directions on the sale process, provided over 66 per cent of lenders approve this offer.

Saurabh Kumar Tikmani, a resolution professional backed by accounting firm KPMG, will also ask for instructions on withdrawing the Power Finance Corporation-led consortium's resolution plan for Lanco Amarkantak.

Net direct tax collection in the eight months of the current fiscal touched 58.34 per cent of Budget Estimates (BE) at Rs 10.64 trillion.

The net tax collection for April-November stood at Rs 10.64 trillion, which is 23.4 per cent higher than the corresponding period of last year, the Ministry of Finance said.

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest transport utility in India, has strengthened its strategic partnership with Terminal Investment (TiL), the container terminal operating and investing arm of Mediterranean Shipping Company (MSC), the largest container shipping line in the world, for the operation of Adani Ennore Container Terminal (AECTPL).

TiL, through its fully-owned subsidiary Mundi Ltd, will acquire a 49 per cent shareholding of AECTPL from APSEZ for a consideration of Rs 247 crore.

Shares of Texmaco Rail & Engineering hit a new high of Rs 188.95 as they rallied 10 per cent on the BSE in Friday's intraday trade after the company said it has received an order to manufacture and supply 3,400 BOXNS wagons for Rs 1,374 crore.

At 09:30 AM, the stock was quoting 6 per cent higher at Rs 181.35 as compared to 0.3 per cent gain in the S&P BSE Sensex. The average trading volumes on the counter have, so far, jumped 1.5 times with a combined 9.6 million equity shares of the company having changed hands on the NSE and BSE.

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