Shares of Adani Wilmar traded lower for the eight straight day, down 5 per cent at Rs 583.25 on the BSE in Tuesday’ s trade. The stock of Adani Group Company, engaged in edible oil business, locked 5 per cent lower circuit for the fifth straight day. It slipped 34 per cent from its 52-week high level of Rs 878 that it had touched on April 28, 2022 after the company reported a mixed bag of numbers for the quarter ended March 2022 (Q4FY22).

Till 10:41 am; a combined 781,497 equity shares changed hands with pending sell orders of 2.73 million shares on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.19 per cent at 54,575 points.

Rainbow Children's Medicare (RCML), a multi-speciality pediatric hospital chain, made a weak stock market debut with its shares listed at Rs 506, a 7 per cent discount when compared to its issue price of Rs 542 per share on the BSE on Tuesday.

At 10:04 am, the stock traded at Rs 492.30, down 9 per cent against its issue price. The stock so far hit a high of Rs 519.35 and a low of Rs 482 on the BSE in intra-day trade. In comparison, the S&P BSE Sensex was down 0.04 per cent at 54,449.

CMS Info Systems, the country’s largest cash management and ATM services player, has posted 14 per cent year-on-year (yoy) increase in net profit at Rs 64 crore in the fourth quarter ended March 2022 (Q4FY22) on improvement in operating margins.

The company posted a net profit of Rs 56.1 crore in Q4FY21.

For FY22, the net profit rose by 33 per cent to Rs 224 crore from Rs 168.5 crore in FY21, according to a filing with BSE.

The JSW group has offered $ 7 billion to Swiss cement major Holcim to acquire Ambuja Cements and it's subsidiary, ACC in India.

In an interview to FT, Sajjan Jindal said that JSW would offer $4.5 billion in its own equity and $2.5 billion from

undisclosed private equity partners for Ambuja Cement and ACC.

India logged 3,207 new coronavirus infections taking the total tally of COVID-19 cases to 4,31,05,401, while the active cases dipped to 20,403, according to the Union Health Ministry data updated on Monday.

The death toll climbed to 5,24,093 with 29 fresh fatalities, the data updated at 8 am stated.

Shares of Larsen & Toubro Infotech (LTI) and Mindtree were down up to 5 per cent on the BSE in Monday’s intra-day trade after the two companies announced a merger on Friday in an all-stock amalgamation of Mindtree with LTI. Shareholders of Mindtree will receive 73 shares of LTI in exchange for 100 shares in the former.

Among the individual stocks, Mindtree slipped 5 per cent to Rs 3,206.90, while LTI was down 2 per cent to Rs 4,486.35 on the BSE in trade today.

Shares reserved for Qualified Institutional Buyers (QIB), including banks and mutual funds in the LIC's public offer were subscribed fully on Monday morning, taking the overall subscription of the issue to a little over 2 times.

Against 3,95,31,236 reserved, 4,61,62,185 bids were received, reflecting a subscription of 1.17 times, according to data posted on stock exchanges at 12:12 pm.

Shares of Tata Power dipped 9 per cent to Rs 223 on the BSE in Monday’s intra-day trade on the back of heavy volumes despite the company reported strong March quarter (Q4FY22) results. The company reported 76 per cent year on year (YoY) increase in consolidated profit after tax (PAT) before exceptional items at Rs 775 crore while consolidated revenue grew 16 per cent YoY at Rs 12,085 crore.

The company received approval for merger of Coastal Gujarat Power Limited (CGPL) into Tata Power and signed binding agreement for investment in India’s most comprehensive renewable energy platform.

Shares of Avenue Supermarts, which runs the D-Mart chain of stores, hit an over 8-month low of Rs 3,486, down 5 per cent on the BSE in Monday’s intra-day trade. In comparison, at 11:34 am, the S&P BSE Sensex was down 0.91 per cent at 54,335 points.

The stock that has fallen 12 per cent in the past two days, was today trading at its lowest level since August 11, 2021. It has corrected 41 per cent from its 52-week high level of Rs 5,899.90 touched on October 18, 2021.

Glenmark Pharmaceuticals on Monday said its US-based arm has received tentative approval from the US health regulator for its generic Calcipotriene and Betamethasone Dipropionate foam used to treat psoriasis.

The tentative approval granted to Glenmark Pharmaceuticals Inc, USA (Glenmark) by the US Food & Drug Administration (USFDA) is for Calcipotriene and Betamethasone Dipropionate foam of strength 0.005 per cent/0.064 per cent, the company said in a statement.

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