Shares of Adani Wilmar (AWL) hit a new lifetime high of Rs 543.35 as they were locked at 5 per cent upper circuit for a second straight day on the BSE on Friday. Till 10:08 am, a combined 13.32 million equity shares had changed hands and there are pending buy orders for around 7 lakh shares on the NSE and BSE.

In the past one week, the stock of Adani Group edibles oil company has surged 30 per cent as compared to 2.3 per cent rise in the S&P BSE Sensex.

Standard and Poor’s (S&P) on Friday said Axis Bank’s acquisition of Citigroup Inc's consumer banking portfolio in India will bring in significant profitability improvements only from FY2025 onwards.

It will take time to complete the acquisition and integrate the assets. The acquisition is likely to be completed over the next 9 to 12 months, while full integration will take another 18 months, S&P said in a statement.

As the new financial year brings new tax rules, taxpayers should bear in mind that the deadline for filing late income tax returns for Assessment Year 2021-22 was March 31.

If an assessee missed this deadline, he or she will have to pay a penalty and interest, and may even face imprisonment for violation.

Edtech startup Vedantu on Thursday said it is on track to be "IPO-ready" in 18-24 months, and is upbeat about the India market prospects that offer ample headroom for growth.

With Covid-19 cases receding and offline learning modes opening up, the blazing pace of growth in online learning has sobered a bit, but the market is still yielding robust growth numbers, it said.

Bharti Airtel and Tech Mahindra on Thursday announced a strategic partnership to jointly develop and market enterprise-grade digital solutions across 5G, private networks and cloud.

Telecom operator Airtel has been undertaking 5G demonstrations and testing in India, while IT services major Tech Mahindra has developed 5G applications and platforms.

With 1,225 new coronavirus infections reported in a day, India's infection tally rose to 4,30,24,440, while the active cases dipped to 14,307, according to the Union Health Ministry data updated on Thursday.

The death toll climbed to 5,21,129 with 28 fresh fatalities, the data updated at 8 am stated.

The rates of petrol and diesel in Delhi increased by 80 paise a litre, while in Mumbai, fuel became costlier by 84 paise on Thursday. This is the ninth increase in fuel rates in 10 days, the total hike now amounts to Rs 6.40.

Petrol is now selling at Rs 101.81 per litre in Delhi and diesel is trading at Rs 93.07 per litre.

Shares of Saregama India were locked at the 5 per cent upper circuit at Rs 4,828.45 on the BSE in Thursday’s intra-day trade after the board approved demerger of entire distribution business of the company. The demerger relates to sale of all its physical products including Carvaan on digital marketplaces along with identified non-core assets (i.e. investment in publication business). The stock had hit a record high of Rs 5,487 on December 28, 2021.

Online marketplace has considerable potential, and skills acquired by the demerged company in the recent past can be utilized to manage end-to-end distribution activity, and with a potential to add many more products.

Shares of Cosmo Ferrites hit a new high of Rs 635, on gaining 4 per cent on the BSE in Thursday’s intra-day trade. The stock has zoomed over 3,500 per cent during financial year 2021-22 (FY22) on the back of robust earnings and strong outlook.

The company is a leading manufacturer and exporter of soft ferrites and an emerging player in wire wound magnetic components. In FY22, the market price of Cosmo Ferrites zoomed 3,529 per cent from a level of Rs 17.50 on March 31, 2021. In comparison, the S&P BSE Sensex rose 19 per cent during the fiscal.

The Asian Development Bank (ADB) and HSBC India have signed an agreement to establish a $100 million partial guarantee program to support more than 0.4 million micro-borrowers, especially women running small businesses.

The agreement will provide financing of an equivalent of $30 million that will be initially disbursed to three micro finance institutions (MFIs) in India by April 2022.

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