Shares of sugar companies were under pressure for the second straight day, falling up to 9 per cent on the BSE in Wednesday’s trade after the government on Tuesday imposed restrictions on sugar exports from June 1.

The government plans to regulate sugar exports and would allow 10 MT of exports in current sugar season. Sugar mills have already contracted for 9 MT of exports and exported 7.8 MT.

Shares of Minda Industries rallied 9 per cent to Rs 906.45 on the BSE in Wednesday’s intra-day trade after the company recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held.

The company has fixed June 10, 2022 as the record date for the purpose of determining the eligibility of shareholders or beneficial owners, who shall be entitled to receive the bonus shares.

Four listed firms of the Kishiore Biyani-led Future Group on Tuesday expressed their inability to convene a board meeting before May 30 to approve their financial results for the quarter and year ended March 31 on account of vacant positions on their respective boards.

The companies are -- Future Retail Ltd, Future Lifestyle Fashion Ltd, Future Supply Chain Solutions Ltd and Future Enterprises Ltd.

South Korean consumer electronics major LG is targeting for a 32 per cent share of the Indian TV market in 2022, with a gain of around 5 per cent to become the number one player in the segment, a top company official said.

The company is banking on its country-specific product line-up with local insights, expansion of retail and after-sales network, as it seeks to be the leading player in the TV segment providing a quality viewing experience to its customers, LG Electronics India Director- Home Entertainment Hak Hyun Kim told PTI.

The prospects of prolonged inflation and slower economic growth in the world are rising, and they expose 12 Indian corporations -- eight public sector entities (all in energy and utilities) and four private sector firms -- to “elevated” downgrade risks, according to Fitch Rating.

India's sovereign rating shall play a prominent role in determining whether such risk crystallises for 12 of these India-based companies. These eight PSUs facing elevated downgrade risks are Indian Oil, Hindustan Petroleum, Bharat Petroleum, GAIL, ONGC, Oil India, NTPC, and Powergrid.

JSW Energy will seek shareholders' approval to raise up to Rs 5,000 crore through equity shares, bonds and other such securities during the annual general meeting to be held on June 14.

The proposed resolution, once passed by the shareholders, will enable the company's Board of Directors to issue securities for an aggregate amount not exceeding Rs 5,000 crore or its equivalent in any foreign currency, according to the notice of the Annual General Meeting (AGM).

Underlining that the world is at a "transformative moment" and the Russia-Ukraine war is not only a European but global issue, US President Joe Biden on Tuesday said Indo-Pacific powers are going to be partners and lead a global response amid the Ukraine conflict.

Against the backdrop of the Russia-Ukraine that has completed three months, Biden, in his opening remarks at the Quad Leaders Summit meeting in Tokyo, said the world is navigating the ship through a dark time.

Pfizer and its German partner BioNTech have said that preliminary clinical data showed their three-dose Covid-19 vaccine regimen was 80 per cent effective for children aged between 6 months to 5-years-old at preventing illness during the Omicron wave.

The vaccine was found to elicit a strong immune response following a third dose, and was well tolerated by the kids with a majority of the side effects mild to moderate, Xinhua news agency quoted the companies as saying on Monday.

Crisis-hit Sri Lanka on Tuesday raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country's worst economic crisis due to the shortage of foreign exchange reserves.

With the second fuel price hike since April 19, now the most-used Octane 92 petrol would cost 420 rupees (USD 1.17) and diesel 400 rupees (USD 1.11) a litre, an all-time high.

Shares of Rupa & Company tanked 20 per cent to Rs 414 on the BSE in Tuesday’s trade after the company reported a disappointing operational performance in March quarter (Q4FY22), due to higher raw material cost.

With today’s fall, the stock of the garment & apparels manufacturer has corrected 29 per cent from its 52-week high level of Rs 585 touched on May 4, 2022.

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