Ruchi Soya Industries has announced the acquisition of the entire food business of Patanjali Ayurved for Rs 690 crore in order to accelerate its transition to a leading FMCG company.

The acquired food business consists of 21 products, including ghee, honey, spices, juices and atta, among other things.

Shares of Bharti Airtel were down 3 per cent to Rs 689.05 on the BSE in Wednesday’s intra-day trade. The stock erased opening gains despite the company reported nearly three-fold increase in net profit to Rs 2,008 crore in the March quarter results (Q4FY220, led by gains from tariff hike and exceptional income. In the same quarter last year, India's second biggest telecom operator had posted net profit of Rs 759 crore.

The stock of Bharti Airtel slipped 5 per cent from its intra-day high of Rs 727.55.

In a big relief to Indrani Mukerjea in the murder case of her daughter Sheena Bora, the Supreme Court granted her bail saying that Indrani has been under custody for six-and-a-half years and that the trial is unlikely to be completed anytime soon.

The bench comprising Justices L Nageswara Rao and BR Gavai noted that the case is based on circumstantial evidence and that even if 50 per cent of the witnesses are given up by the prosecution, the trial is not likely to be over soon.

The WHO has said that there is benefit of administering an additional booster dose of the mRNA COVID-19 vaccine for highest risk groups, health workers, those over 60 years of age or with immunocompromising conditions.

As a general principle, an interval of 4-6 months since completion of the primary series of the vaccine could be considered for a first booster, especially in the context of Omicron, said the World Health Organisation, with the support of the Strategic Advisory Group of Experts (SAGE) on immunisation and its COVID-19 Vaccines Working Group.

Shares of Mangalore Refinery & Petrochemicals (MRPL) hit over three-year high of Rs 89.25, after they rallied 10 per cent on the BSE in Wednesday’s trade. The stock has surged 34 per cent in four trading days after the company reported strong earning for March quarter (Q4FY22). The stock of the state-owned refineries and marketing company quoted its highest level since October 2018.

MRPL is engaged in the business of refining crude oil, and is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), which holds 71.63 per cent equity shares.

Shares of Dr Lal Pathlabs hit 52-week low of Rs 2,047.70 and slipped 6 per cent on the BSE in Wednesday’s intra-day trade. The decline comes after the company posted 14 percent dip year on year (YoY) in consolidated profit after tax (PAT) to Rs 72.9 crore in March quarter (Q4FY22). The company, a leading diagnostic and related healthcare service provider, had posted profit of Rs 85.1 crore in the same quarter last fiscal.

The stock breached its previous low of Rs 2,151.05 that it had touched on Monday, May 16, 2022. In the past one month, the stock declined 23 per cent, as compared to 6 per cent fall in the S&P BSE Sensex.

The price of 10 grams of 24-carat gold on Wednesday went up by Rs 330 to Rs 50,780. At the same time, the rate of 1 kg of silver increased by Rs 2,160 to Rs 61,550.

The price of 10 grams of 22-carat gold increased by Rs 300 from the previous day's rate to trade at Rs 46,550, according to the Goodreturns website.

The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment.

Besides, rising global crude prices impacted the domestic unit, forex traders said.

Over 500 workers at a coal mine in Mozambique owned by a subsidiary of an Indian company have been on strike for a week, the company said in a statement on Tuesday, hurting coal production at a time of peak coal prices.

The striking workers, who make up around 10% of the 5,300-strong workforce at the Moatize mine in central province of Tete, are demanding compensation from Vulcan following its purchase of the mine from Brazilian miner Vale, Vulcan said.

Rays Experts on Tuesday said it will commission the world's largest solar park in Rajasthan with a 3000 MWp capacity.

The 9000-acre solar park will be built in Bikaner, Rajasthan.

It has signed the necessary transmission agreements and obtained all approvals for the same, a company statement said.

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