Shares of Bajaj Electricals surged 11 per cent to Rs 1,159.95 on the BSE in Friday’s intra-day trade after the household appliances company announced that its board approved business restructuring.

At 10:36 am, Bajaj Electricals was up 8 per cent at Rs 1,134 on the BSE. In comparison, the S&P BSE Sensex was down 0.31 per cent at 58,624. The stock had hit a 52-week high of Rs 1,588.55 on September 17, 2021. The trading volumes at the counter jumped over five-fold with a combined around 1.4 million equity shares changing hands on the NSE and BSE.

Star Health and Allied Insurance Company (Star Health) made a weak stock market debut with its equity shares getting listed at Rs 845, a 6 per cent discount to its issue price of Rs 900 per share on the National Stock Exchange (NSE). On the BSE, the stock opened at Rs 848.80, the exchange data shows. Ace investor Rakesh Jhunjhunwala is a promoter of Star Health, which is India's first and largest private standalone health insurance company.

At 10:01 am, the stock was trading at Rs 875.20, after hitting a high of Rs 899 on the BSE in the intra-day trade

The Ministry of Railways will get Rs 20,000 crore under the second tranche of the supplementary demand for grants.

This will take the allocation for the railways’ capital expenditure to more than Rs 2.35 trillion in 2021-22.

After Parliament approves the supplementary demand, the railways’ budget will go up by Rs 40,575.93 crore.

The Reserve Bank of India has approved the Life Insurance Corporation of India (LIC) to raise its stake in IndusInd Bank by up to 9.99 per cent. The insurer holds 4.95 per cent in the private lender.

The bank, in a BSE filing, said it the central bank told it about the approval on Thursday. The approval is subject to compliance with various regulations and rules including Master Direction on 'Ownership in Private Sector Banks and regulations of the Securities and Exchange Board of India.

(Reuters) - Oracle Corp reported upbeat second-quarter results on Thursday, as the IT-services turned cloud solutions player benefited from a rebound in tech spending from businesses looking to support hybrid work.

The company's shares rose 5.1% in extended trading.

Automaker MG Motor India said that it will "drive" an electric vehicle priced between Rs 10-15 lakh by the end of the next fiscal.

At present, the company sells electric SUV 'ZS EV' which is available in two variants, priced at Rs 21 lakh and Rs 24.68 lakh (ex-showroom). It plans to launch an electric crossover vehicle based on a global platform but customised for the Indian market as its next new product.

Lok Sabha on Thursday condoled the demise of Chief of Defence Staff (CDS) General Bipin Rawat, his wife Madhulika Rawat and 11 others who lost their lives in the IAF chopper crash.

General Rawat was travelling from Sulur to Wellington in Tamil Nadu when his helicopter crashed near Coonoor on Wednesday.

Homegrown pharma major Dr Reddy's Laboratories on Thursday said it has launched Valsartan tablets, used for treatment of high blood pressure and heart failure, in the US market.

The Valsartan tablet is the generic therapeutic equivalent of Diovan, approved by the US Food and Drug Administration (USFDA), the company said in a regulatory filing.

India’s TVS Motor Company, the flagship of the $8.5 billion TVS Group, said on Thursday it has a new distribution partnership with Active Motors SA for Nicaragua and Costa Rica to expand its business in Central America further.

Active Motors SA, a subsidiary of Grupo Q, will support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM).

Tata Motors will invest Rs 7,500 crore in five years in commercial vehicles (CV) as it seeks to recast the business and focus on electric vehicles (EV), the Economic Times reported on Thursday citing "people in the know".

The company intends to lead the EV segment in the commercial market as it did with conventional powertrains before, Girish Wagh, executive director--commercial vehicle business unit, told the newspaper. He expects electrification in CVs to happen first through gaseous fuels like CNG.

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