Shares of Elecon Engineering Company (EECL) hit a new high of Rs 594.25, as they rallied 6 per cent on the BSE in Thursday’s intra-day trade in an otherwise weak market on positive industry outlook. In comparison, the S&P BSE Sensex was down 0.38 per cent at 61,541 at 01:56 PM.

In past one month, the stock has surged 40 per cent, as compared to 2.4 per cent rise in the benchmark index. Further, in past one year, the market price of the company has more-than-doubled or up 206 per cent, as against 14.5 per cent gain in the Sensex.

The Tata Group plans to expand its presence in the electronics and semiconductor business, The Economic Times (ET) reported. The conglomerate is looking for land close to its electronics manufacturing plant in Krishnagiri, Tamil Nadu, the report said.

As a part of the expansion plan, Tata will likely broaden the range of mobile components it manufactures. It may also set up an outsourced semiconductor assembly and test (OSAT) unit, the report quoted people aware of the development.

The 5G network in India has crossed 200,000 mobile sites after Union Minister for Communications and IT Ashwini Vaishnaw and Uttarakhand Chief Minister Pushkar Singh Dhami on Wednesday inaugurated the latest 5G site at Gangotri.

According to a PTI report, addressing the event, Vaishnaw said, "Today practically every minute one 5G site is getting activated. The world is surprised. It is a matter of pride for us that 200,000 sites have been installed in Chardham."

On Sunday, at the inauguration of the new Parliament, Prime Minister (PM) Narendra Modi will receive a Sengol, a golden sceptre, from Tamil priests — a ceremony dating back to the Chola Empire and signifying the transfer of power from one king to another.

The government hopes the inauguration will represent Indian traditions, set a historical precedent, and reprise a similar ceremony 75 years ago when India’s first PM, Jawaharlal Nehru, accepted the same Sengol hours before his famous ‘tryst with destiny’ speech on the midnight of August 15, 1947, which represented the transfer of power from the British to self-rule by Indians.

Smartphone maker Xiaomi is working to increase its offline presence in India to regain lost market share in the country, The Economic Times (ET) reports. This is a shift from its earlier online-centric strategy that made Xiaomi the number one mobile seller in the country.

Citing data from Counterpoint Research, the report said that Xiaomi India has registered a 44 per cent decline in its sales in the first quarter of 2023. The company is looking for more than a dozen employees with expertise in strengthening its offline market presence to manage this situation.

Shares of Deepak Nitrite (DNL) moved higher by 6 per cent to Rs 2,058.70 on the BSE in Wednesday's intra-day trade after the company announced Rs 5,000-crore capex plan in Gujarat.

The stock was trading at its highest level since December 2022. It hit a 52-week high of Rs 2,355.55 on November 3, 2022.

Although inflation has moderated of late, India's fight against it is not over yet, and there is no room for complacency, Shaktikanta Das, governor of the Reserve Bank of India (RBI), said at an event on Wednesday.

"The war on inflation is not over. We have to remain alert and there is no cause for complacency. We will have to see how El Nino plays out," he said at the Confederation of Indian Industry Annual Session 2023.

A day after UPSC released its results for the civil services exam, two women with the same name and same roll number have claimed they cracked the coveted exam. Both the women are from Madhya Pradesh and have allegedly scored 184th rank. The family members of both the women are celebrating their success.

A woman named Ayesha scored 184th rank in the UPSC exam. As soon as the result came out, two families started celebrations. One woman is named Ayesha Fatima, daughter of Nazeeruddin, a resident of Dewas. The other woman is from Alirajpur, daughter of Saleemuddin.

Adani Green Energy is ready to approach its board of directors to raise an investment ranging from Rs 6,150 crore ($750 million) to Rs 8,200 crore ($1 billion), a report published in The Economic Times (ET) said. The report said that the sum would be raised through the qualified institutional placement (QIP) route.

Previously, on May 13, two Adani Group companies, Adani Enterprises and Adani Transmission, received the approval of the board to raise Rs 12,500 crore and Rs 8,500 crore, respectively.

Gold price fell Rs 310 in Wednesday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 61,100, according to the GoodReturns website. The price of silver, on the other hand, declined Rs 500 to Rs 74,500 per kilogram.

The price of ten grams of 22-carat gold fell Rs 290 to Rs 56,000.

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