Some shares that are part of billionaire Gautam Adani’s conglomerate took a beating on Tuesday as investors adjusted their holdings to reflect changes in the composition and weighings in the MSCI India Index, according to an analyst who publishes at Smartkarma.

Adani Green Energy Ltd., the group’s biggest firm by market value, led the rout, plunging a record 12% in trading volume about nine times the average of the past three months.

Shares of Oil India (OIL) were up 5 per cent to Rs 250 on the BSE in Wednesday’s trade, surging 15 per cent in the past three trading days. The surge comes after the company reported strong earnings in March 2022 quarter (Q4FY22), as turnover and profit after tax (PAT) increased by 74 per cent and 92 per cent, respectively.

Earlier, the stock of state-owned oil exploration and production company had hit a 52-week high of Rs 267.70 on October 1, 2021.

Recovering from its record low, the rupee rose by 14 paise to 77.57 against the US dollar in early morning trade on Wednesday.

At the interbank foreign exchange, the rupee opened at 77.58 against the American dollar, then inched higher to quote at 77.57, registering a rise of 14 paise from the last close.

The price of 19 kg commercial liquified petroleum gas (LPG) cylinder was reduced by Rs 135 per cylinder on Wednesday morning.

Each cylinder will now cost Rs 2,219 in Delhi, in Kolkata it will cost Rs 2,322, in Mumbai Rs 2,171.50, and in Chennai, it will cost Rs 2373.

Specialty drugs are likely to be the key growth drivers for Sun Pharma in the next three years, according to analysts.

Global specialty drug sales for Sun Pharma have grown by 39 per cent year-on-year (YoY) in FY22 to $674 million. In the fourth quarter, the company recorded a 30 per cent growth in specialty revenues to $185 million across all markets.

The Ministry of Defence (MoD) signed a contract on Tuesday with Bharat Dynamics Limited (BDL) for building Astra Mark-1 beyond visual range air-to-air missiles (BVRAAMs) worth Rs 2,971 crore for the Indian Air Force (IAF) and the Navy.

The Astra Mark-1 missile, which has been developed by the Defence Research & Development Organisation (DRDO), can engage enemy fighter aircraft at ranges of up to 75 kilometres, the MoD told the Lok Sabha on May 6, 2016.

Nine people have died of monkeypox in Congo in 2022 while Nigeria has recorded its first death from the disease this year, the countries' health authorities said, even as at least 20 countries continue to grapple with sudden outbreaks not seen in years.

Dr. Aime Alongo, chief of the Sankuru health division in Congo, said Monday that 465 cases of the disease have been confirmed in the nation, making it one of the worst-hit in West and Central Africa, where the disease is endemic.

Prime Minister Narendra Modi will visit Shimla in Himachal Pradesh on Tuesday to participate in the 'Garib Kalyan Sammelan' and release the 11th instalment of financial benefit under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.

At around 11 AM, Prime Minister will participate in the 'Garib Kalyan Sammelan'. This novel public programme marking the completion of eight years of the government led by the Prime Minister is being organized across the country at State Capitals, District Headquarters and Krishi Vigyan Kendras, the Prime Minister's Office said.

The rate of gold increased by Rs 110 per 10 gram on Tuesday with 24-carat of the metal trading at at Rs 52,200. Meanwhile, silver is trading at Rs 62,500 per kg after an increase of Rs 300.

The price of 10 gram of 22 carat gold increased by Rs 100 as the precious metal is selling at Rs 47,850 on Tuesday, according to Goodreturns website.

Amid the continuing economic crisis in the country, Sri Lanka is in talks with India for another credit line of USD 500 million for fuel imports.

This issue was discussed when Sri Lankan High Commissioner to India Milinda Moragoda met with Indian Finance Minister Nirmala Sitharaman last week, Daily Mirror newspaper reported.

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