JSW Energy will seek shareholders' approval to raise up to Rs 5,000 crore through equity shares, bonds and other such securities during the annual general meeting to be held on June 14.

The proposed resolution, once passed by the shareholders, will enable the company's Board of Directors to issue securities for an aggregate amount not exceeding Rs 5,000 crore or its equivalent in any foreign currency, according to the notice of the Annual General Meeting (AGM).

Underlining that the world is at a "transformative moment" and the Russia-Ukraine war is not only a European but global issue, US President Joe Biden on Tuesday said Indo-Pacific powers are going to be partners and lead a global response amid the Ukraine conflict.

Against the backdrop of the Russia-Ukraine that has completed three months, Biden, in his opening remarks at the Quad Leaders Summit meeting in Tokyo, said the world is navigating the ship through a dark time.

Pfizer and its German partner BioNTech have said that preliminary clinical data showed their three-dose Covid-19 vaccine regimen was 80 per cent effective for children aged between 6 months to 5-years-old at preventing illness during the Omicron wave.

The vaccine was found to elicit a strong immune response following a third dose, and was well tolerated by the kids with a majority of the side effects mild to moderate, Xinhua news agency quoted the companies as saying on Monday.

Crisis-hit Sri Lanka on Tuesday raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country's worst economic crisis due to the shortage of foreign exchange reserves.

With the second fuel price hike since April 19, now the most-used Octane 92 petrol would cost 420 rupees (USD 1.17) and diesel 400 rupees (USD 1.11) a litre, an all-time high.

Shares of Rupa & Company tanked 20 per cent to Rs 414 on the BSE in Tuesday’s trade after the company reported a disappointing operational performance in March quarter (Q4FY22), due to higher raw material cost.

With today’s fall, the stock of the garment & apparels manufacturer has corrected 29 per cent from its 52-week high level of Rs 585 touched on May 4, 2022.

The board of Aditya Birla Fashion and Retail (ABFRL) on Tuesday approved raising up to Rs 2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund (GIC), the company said in a statement.

GIC will first invest Rs 770 crore towards subscription of equity and warrants, followed by up to Rs 1,425 crore in one or more tranches within 18 months upon exercise of warrants.

Shares of Divis Laboratories hit a 52-week low of Rs 3,708, down 4 per cent on the BSE in Tuesday’s trade so far. The stock has slipped 14 per cent in the past two trading days despite the pharmaceutical company delivering a better-than-expected March quarter (Q4FY22) results, with the highest-ever quarterly sales and earnings before interest, taxes, depreciation, and amortization (EBITDA). The board recommended a dividend of Rs 30 per share of face value Rs 2 each i.e., 1500 per cent for the financial year 2021-22.

The stock has fallen below its previous low of Rs 3,790 touched on January 24, 2022.

Venus Pipes & Tubes made a good stock market debut, with shares of the company getting listed at Rs 337.50 apiece, a 4 per cent premium against its issue price of Rs 326 per share on the National Stock Exchange (NSE) on Tuesday. On the BSE, the stock opened at Rs 335, 3 per cent higher from its issue price.

Venus Pipes was locked in the 5 per cent upper circuit at Rs 351.75 on the BSE, while it froze at a price of Rs 354.35 on the NSE, exchange data shows.

The Adani Group has signed a Memorandum of Understanding (MoU) with the government of Andhra Pradesh on Monday at the World Economic Forum regarding an investment of Rs 60,000 crore by Adani Green Energy in the state.

The project is expected to provide employment opportunities to about 10,000 people directly and indirectly.

Going into the pandemic, the Indian tycoon to watch was Mukesh Ambani. Coming out of it, all eyes are on Gautam Adani.

Adani, the world’s sixth-richest person, has added almost $30 billion to his wealth this year, more than any other billionaire. His net worth of $106 billion is only about half of Tesla Inc. co-founder Elon Musk’s, but $10 billion more than Ambani’s. While both would like markets to reward them for scripting India’s future in renewable energy, what’s ticking for them right now is all the polluting stuff in short supply: coal, palm oil, gasoline and building materials.

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