Shares of Tata Power dipped 9 per cent to Rs 223 on the BSE in Monday’s intra-day trade on the back of heavy volumes despite the company reported strong March quarter (Q4FY22) results. The company reported 76 per cent year on year (YoY) increase in consolidated profit after tax (PAT) before exceptional items at Rs 775 crore while consolidated revenue grew 16 per cent YoY at Rs 12,085 crore.

The company received approval for merger of Coastal Gujarat Power Limited (CGPL) into Tata Power and signed binding agreement for investment in India’s most comprehensive renewable energy platform.

Shares of Avenue Supermarts, which runs the D-Mart chain of stores, hit an over 8-month low of Rs 3,486, down 5 per cent on the BSE in Monday’s intra-day trade. In comparison, at 11:34 am, the S&P BSE Sensex was down 0.91 per cent at 54,335 points.

The stock that has fallen 12 per cent in the past two days, was today trading at its lowest level since August 11, 2021. It has corrected 41 per cent from its 52-week high level of Rs 5,899.90 touched on October 18, 2021.

Glenmark Pharmaceuticals on Monday said its US-based arm has received tentative approval from the US health regulator for its generic Calcipotriene and Betamethasone Dipropionate foam used to treat psoriasis.

The tentative approval granted to Glenmark Pharmaceuticals Inc, USA (Glenmark) by the US Food & Drug Administration (USFDA) is for Calcipotriene and Betamethasone Dipropionate foam of strength 0.005 per cent/0.064 per cent, the company said in a statement.

Travel and hospitality platform OYO said it has concluded the acquisition of Europe-based company Direct Booker with the transaction valuing the acquired entity at $5.5 million.

A market-leading player in the vacation home management segment in Dubrovnik, Croatia, Direct Booker was started in 2010 by Nikola Grubelic and Nino Dubretic. The company has over 3,200 homes and serviced 2 million customers so far.

Adani group on Monday announced it has raised $250 million three year debt from Standard Chartered Bank and Barclays Bank for capital expenditure at six airports that it manages under a public private partnership.

The group has option to raise another $200 million under the existing facility, the company said in a statement.

Campus Activewear made decent stock market debut as shares got listed at Rs 355, 22 per cent higher against issue price of Rs 292 per share on the BSE on Monday.

However, at 10:01 am; it was down 4 per cent from its listing level and traded at Rs 340.65. The stock has hit high of Rs 364.80 and a low of Rs 339.90 in intra-day trade so far. Around 666,000 equity shares changed hands on the counter. In comparison, the S&P BSE Sensex was down 1.1 per cent at 54,231 points.

The rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday weighed down by the strength of the American currency in the overseas market and unabated foreign fund outflows.

At the interbank foreign exchange, the rupee opened at 77.17 against the American dollar, then lost ground to quote at 77.42, registering a fall of 52 paise from the last close.

Spotify co-founder and CEO Daniel Ek is investing $50 million into his own music streaming service, saying that the "best days are ahead".

Spotify's stock jumped more than 3 per cent to reach $108.98 per share after the announcement came late on Friday.

"I've always been vocal about my strong belief in Spotify and what we are building. So I am putting that belief into action this week by investing $50M in $SPOT. I believe our best days are ahead," Ek said in a tweet.

India reported 3,805 new coronavirus infections in a day, pushing the number of active cases of the disease in the country to 20,303 and the overall tally to 4,30,98,743, according to Union Health Ministry data updated on Saturday.

The data released at 8 am also showed that 22 fatalities -- 20 of them from Kerala alone -- were reported in a 24-hour period, taking the cumulative death toll to 5,24,024.

Expressing grave concern over President Gotabaya Rajapaksa's declaration of a state of emergency, Sri Lankan Bar Association urged him to revoke the decree while pointing out that stifling public protest is not a solution to the crisis.

This comes at a time when crisis-hit Sri Lanka on Friday declared a state of emergency after the crippling strike and protest over the ballooning external debt for the second time in five weeks.

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