Fuelled by demand for coal and cement, the railways ferried 131.7 million tonnes (mt) of raw materials and goods in May, earning a revenue of Rs 14,113 crore. The revenue earned is 22 per cent higher than the corresponding period last year.

This is the 21st consecutive month of the national transporter topping its own freight loading record. In 2021-22, it earned over Rs 1.43 trillion from freight operations.

NITI Aayog Chief Executive Officer Amitabh Kant on Wednesday said that Aadhaar has become the "bedrock" for the government's welfare schemes and has saved over Rs 2 lakh crore to the government by "eliminating fake and duplicate identities".

Taking part in a workshop on 'Recent Initiatives for Simplifying Aadhaar usage' in the national capital, Kant said, "Aadhaar has become the bedrock for government welfare schemes, ensured faster benefit transfers without any intervention or intermediaries and saved a vast amount of money."

Welspun Enterprises Ltd (WEL) on Wednesday said it has received its single-largest order of Rs 4,636 crore from civic body Brihanmumbai Municipal Corporation (BMC) for the Dharavi Wastewater Treatment Facility.

This takes the outstanding order book of the company to around Rs 12,500 crore, of which Rs 6,500 crore is in the water sector and the balance Rs 6,000 crore is from the road sector, WEL said in a statement.

Shares of Rolex Rings rallied 11 per cent to Rs 1,477 on the BSE in Wednesday’s subdued trade on the back of strong demand outlook.

The stock of the auto components & equipments maker was trading at its highest level since listing on August 9, 2021. With today’s rally, the stock is currently trading 64 per cent higher from its issue price of Rs 900 per share.

As many as 26 companies have submitted 106 bids in the third round of discovered small field (DSF) auctions for which the last date of submission of bids was May 31. The list of companies includes Oil and Natural Gas Corporation (ONGC), Oil India (OIL) and Anil Agarwal-led Vedanta Ltd, among others.

The current round of DSF was launched for 32 contract areas, spread across nine sedimentary basins, covering an area of more than 13,000 square kilometres.

Aditya Birla Group announced the formal launch of its new ‘House of Brands’ entity– TMRW, which is in line with the group’s strategy to launch and back new-age digital ventures.

TMRW will create India’s largest portfolio of disruptor brands in the fashion & lifestyle space and enable the next phase of direct-to-consumer (D2C) growth in India, which is poised to be $100billion market by 2025, the company said in a release.

Shares of Galactico Corporate Services hit a record high of Rs 249.65, up 5 per cent on the BSE in Wednesday’s trade, zooming over 200 per cent in the past five weeks.

The stock of this merchant banker was locked in upper circuit of 5 per cent for the 14 straight trading days. In the past two weeks, the market price of the company skyrocketed 226 per cent from Rs 76.65 that it had touched on April 27, 2022.

Some shares that are part of billionaire Gautam Adani’s conglomerate took a beating on Tuesday as investors adjusted their holdings to reflect changes in the composition and weighings in the MSCI India Index, according to an analyst who publishes at Smartkarma.

Adani Green Energy Ltd., the group’s biggest firm by market value, led the rout, plunging a record 12% in trading volume about nine times the average of the past three months.

Shares of Oil India (OIL) were up 5 per cent to Rs 250 on the BSE in Wednesday’s trade, surging 15 per cent in the past three trading days. The surge comes after the company reported strong earnings in March 2022 quarter (Q4FY22), as turnover and profit after tax (PAT) increased by 74 per cent and 92 per cent, respectively.

Earlier, the stock of state-owned oil exploration and production company had hit a 52-week high of Rs 267.70 on October 1, 2021.

Recovering from its record low, the rupee rose by 14 paise to 77.57 against the US dollar in early morning trade on Wednesday.

At the interbank foreign exchange, the rupee opened at 77.58 against the American dollar, then inched higher to quote at 77.57, registering a rise of 14 paise from the last close.

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