Air India's total accumulated losses at the end of the financial year 2022-23 (FY23) have been estimated at Rs 14,000 crore, According to a report by The Economic Times (ET). Sources were quoted as saying that Tata Sons invested about Rs 13,000 crore in Air India in FY23 through wholly owned subsidiary Talace.

The amount excludes the investment carved out for 470 new aircraft ordered in June from Airbus and Boeing. Tata gained ownership of Air India in January 2022 after the government privatised it.

Hindustan Petroleum Corporation (HPCL) is back in the black with a robust Rs. 6,765-crore net profit during the first quarter (April-June) of FY24.

The public sector oil marketing company (OMC) had registered a loss of Rs. 8,557.1 crore in the same quarter a year ago.

Shares of Vedanta hit 11-month low of Rs 247.6 per share, as they slipped 9 per cent on the National Stock Exchange (NSE) in Thursday’s intra-day trade, amid huge volumes.

The stock traded close to its 52-week low of Rs 245.75, touched on August 4, 2022. Nearly 6 per cent of the company's total equity changed changed hands on the NSE and BSE.

Heavy rainfall was experienced in several parts of Odisha on Wednesday. Locals were seen catching fish at the inundated National Highway 57 in the Boudh area after ponds of the fisheries department got flooded following heavy and continuous rainfall.

IMD scientist HR Biswas said, "Rainfall to continue during the next 24 hours. Heavy to very heavy rainfall is likely over West Odisha districts. Coastal districts will see moderate rainfall. Heavy to very rainfall is likely to occur in several districts including Sundargarh, Sambalpur."

Ambuja Cements on Thursday announced that it would acquire Sanghi Industries Ltd (SIL) at an enterprise valuation of Rs 5,000 crore. The Adani Group company will acquire a 56.74 per cent stake in SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals.

According to a stock exchange filing, the acquisition will be completed in the next three to four months.

India has logged 60 new coronavirus infections while the active cases have slightly increased to 1,482 from 1,474 a day before, according to the Union Health Ministry data updated on Wednesday.

The death toll has been recorded at 5,31,917, the data updated at 8 am stated.

Income-tax (I-T) filings for the assessment year (AY) 2023-24 have hit a record high, exceeding 67.7 million. This figure represents a 16.1 per cent increase compared to the total tax returns filed during the previous assessment year, according to an announcement by the revenue department on Tuesday.

For AY23, the department received 58.3 million returns. It emphasised that the 5.37 million income-tax returns (ITRs) received from new taxpayers signify a “widening of the tax base.”

In a major crackdown on the narcotics trade, the Narcotics Control Bureau (NCB) busted 2 international drug cartels operating through the darknet and arrested 22 individuals with a huge cache of 29,103 blots of deadly LSD in the last 3 months, stated a Ministry of Information & Broadcasting release on Tuesday.

Union Home Minister congratulated NCB for this major success against drugs.

Shares of GE Power India hit a 52-week high of Rs 181 as they surged 13 per cent on the BSE in Wednesday’s intra-day trade, in an otherwise a weak market, after the company received a Letter of Intent (LoI) from Gujarat State Electricity Corporation for contract worth of Rs 444 crore.

In an exchange filing, GE Power India said the company has received contract for design, engineering, manufacture, supply, shop testing, packing and forwarding, installation, commissioning and PG testing of flue gas desulphurisation (FGD) system on engineering procurement & construction (EPC) basis.

Manipal Group Chairman Ranjan Pai is in early discussions to invest in Byju’s-owned Aakash Educational Services Limited (AESL).

According to sources in the know, Byju’s founder and Chief Executive Officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore).

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