Bharti Airtel has prepaid Rs 8,815 crore of spectrum dues to cut down on interest expenses.

The dues pertained to spectrum acquired in 2015 and payments for same were due in FY2027 and FY2028, the telecom company announced on Friday.

This is the second such prepayment by the company in the last three months and comes on the back of strong cash flow generation, equity infusion and borrowing at significantly lower interest rates.

Food robotics company Mukunda Foods has raised $8 million in a funding round led by Zomato, taking the company's post-money valuation to $30 million. Zomato invested $5 million as part of the funding round.

The company had previously raised funds from Ncubate Capital, Singapore Angel Network, and Indian Angel Network. The company plans to utilise funds to expand its reach across QSRs, cloud kitchens and the fine dine segment. The company also plans to use a part of the raised capital to introduce services to help the F&B businesses scale.

Shares of Shree Pushkar Chemicals & Fertilisers hit a 52-week high of Rs 301.10, on rallying 11 per cent on the BSE in Thursday’s intra-day trade in an otherwise choppy market on expectations of strong earnings. The company is an integrated dye manufacturing solution company with a diversified product portfolio of dyestuffs, dye intermediates, acids, fertilisers and animal feed additives.

In the past one month, the stock has zoomed 51 per cent as compared to a 5 per cent gain on the S&P BSE Sensex. The stock had hit a record high of Rs 338 on January 10, 2018.

The Supreme Court on Thursday refused to accord urgent hearing on the pleas challenging the Karnataka High Court verdict which dismissed the petitions seeking permission to wear hijab inside the classroom and stated that the headscarf is not a part of the essential religious practice in Islam.

A bench comprising Chief Justice N V Ramana and Justice Krishna Murari denied the request of senior advocate Devadatt Kamat who mentioned the matter seeking urgent listing saying that examinations are going on.

With 1,938 new coronavirus infections being reported in a day, India's total tally of cases rose to 4,30,14,687, while the active cases further declined to 22,427, according to Union health ministry data updated on Thursday.

The death toll has climbed to 5,16,672 with 67 daily fatalities, the data updated at 8 am stated.

Shares of Suven Pharmaceuticals hit a record high of Rs 617 on rallying 5 per cent on the BSE in Thursday’s intra-day trade in otherwise subdued market. In comparison, at 10:41 am, the S&P BSE Sensex was down 0.13 per cent at 57,608 points. The shares of the company have surged 18 per cent in the last three days on expectations of strong earnings.

In the past three months, Suven Pharma has outperformed the market by soaring 30 per cent, as against less than a per cent rise in the Sensex benchmark index.

Shares of L&T Finance Holdings dipped 7 per cent to Rs 82.65 on the BSE in Thursday’s intra-day amid heavy volume on profit booking. At 09:52 am; the stock was down 5 per cent at Rs 84.25, as compared to a 0.09 per cent decline on the S&P BSE Sensex. A combined 33 million equity shares changed hands in the first 35 minutes of trade on the NSE and BSE.

In the past five trading sessions, the stock of L&T Group zoomed 37 per cent after its promoter Larsen & Toubro (L&T) purchased 55.75 million equity shares representing 2.3 per cent stake of L&T Finance Holding via open market purchases.

Shares of Nelco were locked in the 5 per cent upper circuit band at Rs 678.60 on the BSE on Thursday after the Tata Group company and Omnispace announced a strategic cooperation agreement to enable and distribute 5G non-terrestrial network (NTN), direct-to-device satellite services.

"The collaborative effort will expand the reach of 5G using satellite communication throughout India and South Asia. This agreement with Omnispace allows Nelco to expand its services by including 5G satellite direct-to-device connectivity solutions to its portfolio of satcom services for serving existing and new customers across South Asia, using the world’s first global 5G NTN network," the company said in press release.

Invesco Developing Markets Fund, which owns 18 per cent stake in Zee Entertainment, has backed the Zee merger with Sony and has decided not to pursue litigation against Zee.

In a statement, the company said it is pleased with the Bombay High Court’s ruling, which is an important reaffirmation of shareholder rights in India and the mechanisms under Indian law to hold Boards accountable to their shareholders. "The ruling is a boon for corporate governance in India and a win for shareholder democracy," it said.

RP Sanjiv Goenka Group is looking to acquire companies in local retail, technology, and power distribution sectors as the diversified the conglomerate looks to rapidly scale up.
“We are poised for a very aggressive expansion,” Group Chairman Sanjiv Goenka (pictured) told Bloomberg TV on Wednesday, saying the Kolkata-based conglomerate was looking to acquire more retail chains and related infrastructure after buying niche sector player Nature’s Basket in 2019.

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