Shares of Muthoot Finance sunk 9.4 per cent to Rs 1,029 per share on the BSE in Friday's intra-day trade after the gold financier reported a weak set of number for January-March quarter of FY22 (Q4FY22). At 10:30 AM, its shares quoted at Rs 1,060, down about 7 per cent, as against 0.6 per cent rise in the benchmark S&P BSE Sensex.

India's largest gold financing company on Thursday reported a 4 per cent decline in standalone profit at Rs 960 crore as compared to Rs 996 crore profit reported during the corresponding period last year. The company's standalone income also dipped 5 per cent to Rs 2,678.37 crore.

Shares of Bharat Petroleum Corporation Limited (BPCL) fell 2 per cent to Rs 318 on the BSE in Friday’s trade, in an otherwise firm market, as the government has called off the privatisation process of the state-owned oil marketing company for now. The development comes after two of the three companies that had shown interest in acquiring the public sector undertaking (PSU) withdrew their bids. In comparison, the S&P BSE Sensex was up 0.74 per cent at 54,653 points at 1:00 PM.

Shares of Oil and Natural Gas Corporation (ONGC) hit a four-month low of Rs 142.35, down 6 per cent on the BSE in Friday’s trade after the company said it will invest Rs 31,000 crore over the next three years in exploring the Indian sedimentary basin for fuel reserves.

The stock of the state-owned oil and gas exploration was also under pressure after the UK imposed a 25 per cent energy windfall tax on oil and gas producers to help households as bills surge.

Alphabet Inc's Google is in talks with the Indian government to integrate its shopping services with the country's open e-commerce network ONDC, two sources familiar with the matter told Reuters.

Late last month India soft-launched its Open Network for Digital Commerce (ONDC) as the government tries to end the dominance of U.S. companies Amazon.com and Walmart in the fast-growing e-commerce market.

A Hero Photon Electric scooter in Odisha reportedly caught fire while it was being charged and the incident has left the scooter partially damaged.

According to media reports, the incident was first reported on Wednesday, and the cause is thought to be a short circuit at the power socket from where the electric scooter was being charged overnight.

Shares of Piramal Enterprises hit a 52-week low of Rs 1,679, down 10 per cent on the BSE in Friday's intra-day trade, after the company's financial services business reported loss of Rs 321 crore in March quarter (Q4FY22) due to additional provisioning and interest reversals totaling Rs 1,037 crore. The company had posted profit after tax (PAT) of Rs 243 crore in Q4FY21.

The company said additional provisioning and interest reversal totaling Rs 1,037 crore corresponded to select wholesale non-RE accounts that moved to Stage-2.

On Friday, the Singapore-based telecom company, Singtel made its intent about strategic investments in associate telcos (which include Bharti Airtel) clear. In a press statement, the company dubbed as "market speculation" reports about its intention to sell 1-2 per cent of its stake in the Indian telecom major for around $1-2 billion. The company reiterated that, "we have been a strategic investor in Airtel for decades and it remains a core investment in our international portfolio."

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.

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