Shares of Rupa & Company tanked 20 per cent to Rs 414 on the BSE in Tuesday’s trade after the company reported a disappointing operational performance in March quarter (Q4FY22), due to higher raw material cost.

With today’s fall, the stock of the garment & apparels manufacturer has corrected 29 per cent from its 52-week high level of Rs 585 touched on May 4, 2022.

The board of Aditya Birla Fashion and Retail (ABFRL) on Tuesday approved raising up to Rs 2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund (GIC), the company said in a statement.

GIC will first invest Rs 770 crore towards subscription of equity and warrants, followed by up to Rs 1,425 crore in one or more tranches within 18 months upon exercise of warrants.

Shares of Divis Laboratories hit a 52-week low of Rs 3,708, down 4 per cent on the BSE in Tuesday’s trade so far. The stock has slipped 14 per cent in the past two trading days despite the pharmaceutical company delivering a better-than-expected March quarter (Q4FY22) results, with the highest-ever quarterly sales and earnings before interest, taxes, depreciation, and amortization (EBITDA). The board recommended a dividend of Rs 30 per share of face value Rs 2 each i.e., 1500 per cent for the financial year 2021-22.

The stock has fallen below its previous low of Rs 3,790 touched on January 24, 2022.

Venus Pipes & Tubes made a good stock market debut, with shares of the company getting listed at Rs 337.50 apiece, a 4 per cent premium against its issue price of Rs 326 per share on the National Stock Exchange (NSE) on Tuesday. On the BSE, the stock opened at Rs 335, 3 per cent higher from its issue price.

Venus Pipes was locked in the 5 per cent upper circuit at Rs 351.75 on the BSE, while it froze at a price of Rs 354.35 on the NSE, exchange data shows.

The Adani Group has signed a Memorandum of Understanding (MoU) with the government of Andhra Pradesh on Monday at the World Economic Forum regarding an investment of Rs 60,000 crore by Adani Green Energy in the state.

The project is expected to provide employment opportunities to about 10,000 people directly and indirectly.

Going into the pandemic, the Indian tycoon to watch was Mukesh Ambani. Coming out of it, all eyes are on Gautam Adani.

Adani, the world’s sixth-richest person, has added almost $30 billion to his wealth this year, more than any other billionaire. His net worth of $106 billion is only about half of Tesla Inc. co-founder Elon Musk’s, but $10 billion more than Ambani’s. While both would like markets to reward them for scripting India’s future in renewable energy, what’s ticking for them right now is all the polluting stuff in short supply: coal, palm oil, gasoline and building materials.

The board of Aditya Birla Fashion and Retail is meeting on Tuesday to discuss selling a minority stake to private equity firms to raise up to Rs 2,300 crore.

The company will utilise the funds to grow its offline business, which is witnessing a sharp turnaround after two years of slowdown due to the pandemic.

The rate of gold and silver remained unchanged on Monday, with the yellow metal (24 carat) trading at Rs 51,300 per 10 gms. Silver, on the other hand, is selling for Rs 61,400 per kg on Monday.

The price of 10 grams of 22-carat gold remained unchanged from the previous day's rate at Rs 47,050, according to the Goodreturns website.

The global coronavirus caseload has topped 525.5 million, while the deaths have surged to more than 6.27 million and vaccinations to over 11.44 billion, according to the Johns Hopkins University.

In its latest update on Monday morning, the University's Center for Systems Science and Engineering (CSSE) revealed that the current global caseload and the death toll stood at 525,577,051 and 6,277,152, respectively, while the total number of vaccine doses administered increased to 11,442,406,120.

As residents of the national capital woke up to heavy rain and winds on Monday, there were also reports of houses collapsing is some parts of the city.

In West Delhi's Nihal Vihar area, a house collapsed at around 5 a.m. The persons trapped inside were rescued.

A similar incident was reported from the Jyoti Nagar area at around 6 a.m.

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