Reliance Jio is expected to allocate up to Rs 12,000 crore for spectrum acquisition in the upcoming auction, while Bharti Airtel’s projected expenditure is anticipated to be less than Rs 8,000 crore, according to a report in the Financial Express.

Vodafone Idea, on the other hand, is predicted to invest around Rs 1,000 crore. The spectrum auctions are slated to commence on June 6.

Realty firm Godrej Properties Ltd on Thursday said it has sold around 650 flats in Noida for more than Rs 2,000 crore, amid strong consumer demand for residential properties.

In a regulatory filing, Godrej Properties informed that it has "sold around 650 homes worth over Rs 2,000 crore in its project, Godrej Jardinia, located in Sector 146, Noida."

Shares of BEML soared 11 per cent to Rs 4,642, its new high on the BSE in Wednesday’s intra-day trade, surging 25 per cent in the past four days. This came after the company announced on Friday, May 17 that it has bagged an order worth Rs 250 crore from Northern Coal Fields Limited for dump trucks. In past six months, the market price of BEML has more than doubled or zoomed 107 per cent.

At 01:17 pm; BEML was trading 9 per cent higher at Rs 4,556.25, as compared to 0.20 per cent rise in the S&P BSE Sensex.

Smartphones are now the fourth-largest export item from India with 42 per cent growth to $15.6 billion in FY24, up by one notch in the ranking from the preceding year.

India started collecting data for smartphones separately from April 2022. While India’s top export items are dominated by petroleum products, smartphones replaced motor gasoline to become the fourth-largest exported commodity in FY24.

Goh Choon Phong, head of Singapore Airlines, expressed profound regret following a tragic incident on Tuesday when flight SQ321 from London to Singapore encountered “severe extreme turbulence”, resulting in one fatality and numerous injuries.

“On behalf of Singapore Airlines, I would like to express my deepest condolences to the family and loved ones of the deceased,” stated Goh Choon Phong, acknowledging the traumatic ordeal faced by passengers and crew members during the turbulent episode, which compelled an emergency landing in Bangkok, Thailand.

Shares of HG Infra Engineering and PNC Infratech have hit their respective record high and rallied by up to 13 per cent on the BSE in Wednesday’s intra-day trade after these companies emerged as L1 bidders for engineering, procurement, and construction (EPC) road projects of Maharashtra State Road Development Corporation (MSRDC).

Thus far in the current calendar year, HG Infra has zoomed nearly 90 per cent, while, PNC Infratech has soared 44 per cent. In comparison, the S&P BSE Sensex has gained 2.5 per cent.

Shares of Ircon International slipped 5.5 per cent at Rs 273.95 per share on the BSE in Wednesday’s intraday trade. The crack in the stock price came after the civil construction firm delivered a sluggish quarter four performance for the financial year 2022-23 (Q4FY24).

The engineering and construction firm saw a decline of 3.8 per cent in its consolidated net profit, totaling Rs 246.8 crore for the March quarter, compared to Rs 256.49 crore from the same period last year.

Following a favourable ruling by a division bench of the Delhi High Court, private airline SpiceJet on Wednesday said that it will seek a refund of Rs 450 crore from former promoter Kalanithi Maran and his company, KAL Airways.

In an exchange filing, the airline said, “SpiceJet will seek a refund of Rs 450 crore out of the Rs 730 crore it has previously paid to former promoter Kalanithi Maran and his firm, KAL Airways, following the Delhi High Court’s order on May 17.

Shares of Bharat Heavy Electricals Limited (BHEL) fell as much as 7.58 per cent to hit an intraday low of Rs 295 per share, on Wednesday.

The fall came after the company announced its Q4 results, which missed street expectations.

BHEL’s net profit fell approximately 26 per cent on a year-on-year (Y-o-Y) basis to Rs 489.6 crore in the March quarter of financial year 2024 (Q4FY24), from Rs 658 crore in the same quarter a year ago (Q4FY23).

Indian digital payments firm Paytm’s losses widened to Rs 549.6 crore for the quarter ending on March 31 (Q4) in financial year 2023-24 (FY24), the company reported on Wednesday. During the same period last year, net loss stood at Rs 219.8 crore. The fintech had reported a net loss of Rs 168.4 crore in the last quarter.

Consolidated revenue from operations fell 2.9 per cent year-on-year (Y-o-Y) to Rs 2,267.1 crore, from Rs 2,334.5 crore. Sequentially, revenue dropped 20.5 per cent from Rs 2,850.5 crore.

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