Shares of Tata Motors rose 3 per cent to hit a fresh multi-year high of Rs 582.60 on the BSE in Tuesday’s rangebound trade on an improved business outlook. In comparison, the S&P BSE Sensex was down 0.10 per cent at 63,102 at 01:15 pm.

The stock of the Tata Group passenger cars & utility vehicles company was trading close to its record high level of Rs 606, touched on February 3, 2015. Thus far in the calendar year 2023, it has rallied 50 per cent as compared to a 3.2 per cent rise in the S&P BSE Sensex.

Daniel Zhang has announced that he will be resigning as Alibaba Group Holding chairman and chief executive officer (CEO) in order to focus on Alibaba Cloud, the digital technology and intelligence backbone of the group.

Zang, 51-year-old Chinese business executive, will be working in the company as chairman and CEO of Alibaba Cloud Intelligence Group, the company said in a statement on Tuesday. The change will take effect September 10, according to a report in the South China Morning Post.

The Securities and Exchange Board of India (Sebi) on Monday banned IIFL Securities from onboarding new clients for two years for alleged misuse of client funds.

As per the Sebi order, IIFL Securities was mixing clients’ funds with its own funds before using those mixed funds for its own proprietary usage.

The Nigerian health agency has flagged off two drugs — oral paracetamol and another cough medicine — manufactured by companies based in Mumbai and Punjab for being “sub-standard or found to be containing toxins”.

Nigeria’s National Agency for Food and Drugs Administration and Control (NAFDAC) found a batch of oral paracetamol suspension manufactured by Mumbai-based SyneCare containing toxins, it said in a notification dated June 12.

IndiGo has the flexibility to decide what would be the precise size of its aircraft fleet by 2035, its Chief Executive Officer (CEO) Pieter Elbers said on Monday.

IndiGo — the country’s largest airline — has 312 aircraft in its fleet. Elbers said the airline will double in size by 2030, indicating the airline will have a fleet of about 625 by 2030.

Former governor of the Reserve Bank of India (RBI) Raghuram Rajan has been under fire on social media for his remarks related to India on the path to being a superpower.

At an event, Rajan was asked if he could be seen as India's finance minister or Prime Minister in the coming decade. While answering, Rajan expressed his indifference towards India being a superpower. He said it was more important to fulfil the vision of Mahatma Gandhi.

Vedanta Resources (VR) has to repay a debt of $2.2 billion in the current financial year, and the company is relying on measures like brand monetisation, refinancing, and transfer of general reserves to retained earnings to keep up with the schedule of its repayment obligations, The Economic Times (ET) reports.

The total debt falling due on Vedanta Resources in the financial year 2023-24 (FY24) is about $4.2 billion. The company has already paid $2 billion in the first quarter.

Shares of Shriram Finance surged 7 per cent to Rs 1,500 in Monday’s intra-day trade, amid heavy volumes. The stock of non banking financial company (NBFC) quoted close to its 52-week high level of Rs 1,509, touched on July 25, 2022.

Till 09:48 am; around 9.98 million shares, which represented 2.66 per cent of total equity of Shriram Finance have changed hands on the BSE, data shows. A combined 11.3 million shares or 3 per cent of total equity of NBFC company changed hands on the BSE and NSE. The names of the buyers and sellers were not ascertained immediately.

India's largest airline Indigo is likely to place the largest order for aircraft in the history of the country's aviation today. The airline board is expected to approve an order of 500 Airbus A320 Neo family aircraft on Monday, The Economic Times (ET) reported. This family consists of A320Neo, A321Neo and A321 XLR aircraft.

The value of the order, at the list price of these aircraft, will be around $500 billion, but the actual value is expected to be smaller as large orders enjoy heavy discounts.

The plan of launching Vande Bharat sleeper coaches has hit a roadblock as the Russian and Indian consortium partners that won the Rs 40,000-crore supply and maintenance contract are caught in an ownership dispute, The Economic Times (ET) reports.

A senior official of Russia's locomotive manufacturer, TMH Group, told ET that its partner, Rail Vikas Nigam Ltd is pushing for a higher stake in the joint venture (JV) and to resolve the situation, the group has reached out to senior government officials with their concerns.

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