The Piramal group is planning to move the Supreme Court to appeal against an NCLAT order which asked lenders to reconsider Piramal ascribing a value of Re 1 to Rs 45,000 crore of bad loans.

In a statement, Piramal said that in the case of one of the appeals, which was limited to the extent of challenging the distribution of proceeds (if any) from fraudulent transactions to its benefit, the NCLAT has ordered it to be re-considered by the Committee of Creditors (CoC).

Shares of C E Info Systems (MapmyIndia) hit a record low of Rs 1,271.65, on slipping 11 per cent on the BSE in Friday’s intra-day trade after the company reported 14 per cent year-on-year (YoY) decline in its consolidated profit at Rs 18.52 crore in December quarter (Q3FY22).

In Q3FY22, revenue from opreations was down 10.7 per cent YoY at Rs 43.37 crore. Earnings before interest tax and depreciation and amortization (EBITDA) margins declined 700 bps YoY to 35.9 per cent.

Shares of Bharti Airtel rallied 6 per cent to Rs 752.80 on the BSE in Friday’s intra-day trade, after the company said its board has approved raising funds to the tune of Rs 5,224 crore by issuing shares to Google on preferential issue basis. The telecom services provider will issue 71.18 million equity shares at price of Rs 734 per share.

Profit booking at higher levels saw the counter erase these gains. At 09:26 am, Bharti Airtel's stock traded flat at Rs 707.05, as compared to 0.81 per cent rise in the S&P BSE Sensex.

The price of 10 gram of gold decreased by Rs 190 on Friday, with 24 carat trading at Rs 49,640 and 22 carat at Rs 45,500.

One kg of silver is selling at Rs 63,200, down Rs 1,000 from yesterday.

In Delhi, the price of 24-carat gold stands at Rs 49,650, while in Mumbai it is at Rs 49,640, according to the Goodreturns website.

Brokerages are mostly positive on the Rs 3,600-crore initial public offering (IPO) of Adani Wilmar (AWL), which opened for subscription on Thursday and will close on Monday.

The IPO is available in the price band of Rs 218 to Rs 230 per share. Investors can bid for a minimum of 65 shares and in multiples thereafter.

Sun Pharmaceutical Industries on Thursday said its subsidiary has launched Cequa, a new treatment for dry eye disease, in Canada.

Sun Pharma Canada Inc, a wholly-owned subsidiary of the Mumbai-based drug major, has introduced Cequa (cyclosporine ophthalmic solution 0.09 per cent w/v), a calcineurin inhibitor immunomodulator.

Shares of Lux Industries slipped another 11 per cent to Rs 2,501 on Thursday’s intra-day trade, plunging 29 per cent in the last two straight trading sessions after the market regulator Securities and Exchange Board of India (Sebi) barred 14 entities for insider trading in its scrip. The stock of Kolkata-based hosiery maker quoted lower for the sixth straight day, and has tanked 35 per cent during the period.

Those barred included Udit Todi, company’s executive director and son of the MD. Sebi’s initial findings revealed that Todi passed price sensitive information pertaining to financial results of the company, the Business Standard reported.

Shares of Sharda Cropchem hit a new high of Rs 578.35 after they rallied 10 per cent on the BSE in Thursday's in intra-day trade, in an otherwise weak market, extending its past three days' surge. The stock has been surging after the company's December quarter (Q3FY22) net profit more-than-doubled to Rs 102 crore. The agrochemicals company had posted profit after tax of Rs 48.3 crore in a year ago quarter.

In the past four trading days, the market price of Sharda Cropchem has zoomed 58 per cent, as compared to 5 per cent decline in the S&P BSE Sensex during the same period.

SAP said on Thursday it has agreed to buy a majority stake in privately held U.S. fintech firm Taulia as the German business software group seeks to expand its presence across supply-chain financing and working capital loans.

Taulia works with financial institutions to allow suppliers that use its platform to receive early payments on their delivered goods and services, and the market has significantly increased due to the pandemic disrupting supply chains.

The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group.

The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore.

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