Shares of Adani Enterprises Ltd., the flagship of Indian billionaire Gautam Adani’s group, have erased all the losses inflicted by a scathing short-seller report in early 2023, after the conglomerate cut debt and landed major projects.

The stock clawed back losses of more than $30 billion that came after US-based Hindenburg Research alleged wide-ranging corporate malfeasance and share-price manipulation at the ports-to-power conglomerate in January 2023.

JK Lakshmi Cement shares rose as much as 7.16 per cent to hit an intraday high of Rs 851.50 per share.

The surge in JK Lakshmi Cement share was fuelled by robust Q4FY24 results, which came in line with street estimates. JK Lakshmi Cement’s profit rose over 41 per cent to Rs 162.1 crore in the March quarter of financial year 2024, as opposed to Rs 114.8 crore in the same quarter a year ago.

Public sector Indian Overseas Bank has drawn up plans to set up 88 new branches across India this financial year, a top official has said.

The city-headquartered bank under its expansion drive recently inaugurated a new branch in Nagapattinam and the 126th ATM in neighbouring Puducherry.

Delhi Chief Minister Arvind Kejriwal has said he is not interested in becoming the Prime Minister if the INDIA alliance wins the 2024 Lok Sabha elections. The Aam Aadmi Party (AAP) chief said his goal is to protect the country and democracy from "dictatorship".

“I have no such intention. We [AAP] are a very small party contesting only 22 seats," said Kejriwal on Wednesday.

Caller ID company Truecaller has announced a partnership with Microsoft to utilise a new personal voice technology from Microsoft Azure AI Speech. With the help of Microsoft Azure AI Speech Personal Voice, users can record digital versions of their own voice within the Truecaller application and use it to answer calls.

Truecaller introduced an AI assistant feature in 2022 that can automatically answer phone calls, screen calls, and take messages. This feature allows customers to see the reason for the call and choose how to respond or record it for later use.

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.

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