The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment.

Besides, rising global crude prices impacted the domestic unit, forex traders said.

Over 500 workers at a coal mine in Mozambique owned by a subsidiary of an Indian company have been on strike for a week, the company said in a statement on Tuesday, hurting coal production at a time of peak coal prices.

The striking workers, who make up around 10% of the 5,300-strong workforce at the Moatize mine in central province of Tete, are demanding compensation from Vulcan following its purchase of the mine from Brazilian miner Vale, Vulcan said.

Rays Experts on Tuesday said it will commission the world's largest solar park in Rajasthan with a 3000 MWp capacity.

The 9000-acre solar park will be built in Bikaner, Rajasthan.

It has signed the necessary transmission agreements and obtained all approvals for the same, a company statement said.

Mortgage lender HDFC on Tuesday launched a spot offer on WhatsApp to provide an in-principle home loan approval for buyers within 2 minutes.

HDFC's Spot Offer on WhatsApp' is a platform that will enable prospective borrowers to get an in-principle home loan approval instantly, the lender said in a statement.

Shares of Aurobindo Pharma were under pressure as it hit new 52-week low of Rs 536.40, down 2.6 per cent on the BSE in Tuesday’s intra-day trade in an otherwise upbeat market. In comparison, the S&P BSE Sensex was up 1.8 per cent or 930 points at 53,904 at 12:23 pm.

The stock of pharmaceutical company slipped 11 per cent in the past one week after the company received six observations from the United States Food and Drug Administration (USFDA) for its Unit VII.

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Tuesday said the weak debut of the country's largest insurer LIC on the bourses was due to unpredictable market conditions and suggested investors to hold on to the stock for long-term value.

LIC on Tuesday listed its shares at a discount of 8.11 per cent at Rs 872 per share on NSE.

Shares of Honda India Power Products hit over four-year high of Rs 1,585.95, after rallying 13 per cent on the BSE in Tuesday’s intra-day trade on expectation of strong earnings. The stock of industrial equipments company traded at its highest level since February 2018. Earlier, it had hit a record high of Rs 1,750 on November 7, 2016.

In the past one month, the stock rallied 25 per cent after its fellow subsidiary Honda Cars India Ltd (HCIL) started production of the upcoming electric hybrid version of its popular sedan, 'City.' In comparison, the S&P BSE Sensex was down 7 per cent during the same period.

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday said its shareholders have approved the appointment of Hisashi Takeuchi as Managing Director and CEO.

In a regulatory filing, the auto major said 99.89 per cent of votes polled through a postal ballot were in favour of the appointment of Takeuchi as MD and CEO.

Bajaj Electricals on Tuesday reported a 28.73 per cent decline in consolidated net profit at Rs 38.67 crore for the fourth quarter ended March 2022.

The company had posted a net profit of Rs 54.26 crore for March quarter of the previous fiscal year, Bajaj Electricals said in a regulatory filing.

Odisha Mining Corporation (OMC) announced that it will set up five model schools and a skill academy in its operation area.

OMC signed an agreement with Odisha Adarsha Vidyalaya Sangathan to set up five 'Mining Adarsha Vidyalayas'. Besides, it signed a MoU with the Department of Technical Education and Training to establish the Skill Academy at ITI, Koira.

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