Nifty Next 50 index hit a 52-week low of 36,533 points on the National Stock Exchange (NSE) after a sharp sell-off in stocks like Steel Authority of India (SAIL), Vedanta, Mindtree, Info Edge (India), Zomato, NMDC, Berger Paints, Lupin, L&T Infotech and FSN e-Commerce Ventures (the parent company of beauty e-tailer Nykaa).

In the past one month, these stocks were down in the range of 20 per cent to 28 per cent, as compared to 14 per cent decline in the Nifty Next 50 index. In comparison, the benchmark Nifty 50 index was down 7 per cent during the same period.

Shares of InterGlobe Aviation – the parent company of IndiGo – soared 10 per cent to Rs 1,808.5 apiece on the BSE on Thursday after the company’s chief executive officer (CEO) Ronojoy Dutta said that profitability was the top-of-the-mind priority for the company.

"You almost have to hit the point - the sweet spot just right - because you can keep pushing up fares and then at a certain point demand actually falls off… So, you have a tug-of-war, but the key to profitability is to keep managing our business on the revenue side," he said.

IT services major Infosys has recommended to revise the compensation package of its CEO Salil Parekh to Rs 79.75 crore up 88 per cent from his previous salary of Rs 42.50 crore, said the company’s annual report for fiscal 2022.

These changes are part of the recent announcement of reappointment of Parekh as the CEO and MD of the company for five years.

As edtech platforms start bleeding in India, Unacademy, which recently laid off over 600 employees, has predicted a funding winter that can last as long as 18 months, saying it will cut costs wherever required to weather the dry spell and become profitable.

In a letter to employees, Unacademy's co-founder and CEO Gaurav Munjal said that "we must learn to work under constraints and focus on profitability at all costs".

Japanese lender MUFG Bank will establish a branch at the Gujarat International Financial Tec City (GIFT City) in Ahmedabad for foreign currency-denominated lending business. This will be its sixth branch in India.

MUFG can support its domestic as well as global clients with an expanded suite of financial services. At present it has presence in Mumbai, Delhi, Bengaluru, Chennai and Neemrana.

Grasim Industries Ltd, an Aditya Birla group company, is planning to raise upto Rs 2,000 crore through debentures to fund its capital expenditure programme.

The company has lined up investment for foray into decorative paints with project cost estimated at Rs 10,000 crore by FY25.

Pune-based energy distribution startup Repos Energy on Wednesday said it has raised Rs 56 crore from Tata Sons Chairman Emeritus Ratan Tata and other investors.

The fresh capital as part of pre-series A funding round is in combination of equity and debt, the company said.

Repos Energy, however, did not disclose the identity of the other investors.

After a thrilling win over Lucknow Super Giants in the Indian Premier League (IPL) Eliminator, Royal Challengers Bangalore captain Faf du Plessis was 'over the moon' and went on all praise for centurion Rajat Patidar for his outstanding performance against LSG.

Rajat Patidar starred for Royal Challengers Bangalore as they defeated Lucknow Super Giants by 14 runs in the Eliminator clash of IPL 2022 here at Eden Gardens in Kolkata on Wednesday.

Deepak Fertilisers on Wednesday reported a 144.30 per cent jump in consolidated profit after tax (PAT) at Rs 282.91 crore for the quarter ended March 2022.

The company's PAT stood at Rs 115.80 crore during the corresponding quarter of 2020-21, Deepak Fertilisers and Petrochemicals Corporation said in a BSE filing.

State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 10 per cent rise in the consolidated net profit at Rs 4,295.90 crore in the March quarter mainly on the back of higher revenues.

The consolidated net profit of the company was at Rs 3,906.05 crore in the year-ago period, a BSE filing showed.

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