Stock Market LIVE Updates: GIFT Nifty indicates a positive start; US, Asian markets gain

The board of directors of Ceat approved re-appointment of Arnab Banerjee as Managing Director & Chief Executive Officer of the company for a further term of one year w.e.f. April 1, 2025, subject to approval of shareholders.

Hindustan Aeronautics has informed that Request for Proposal (RFP) has been issued by the Ministry of Defence for procurement of 156 Light Combat Helicopter (90 nos. for IA and 66 nos. for IAF).

Vishnu Prakash RPungliareceived a Letter of Acceptance from the office of DYCE-C-BKN-Engineering, North Western RailwayBikanerfor earthwork in filling and cuttingin formation, blanketing, trolley refuges, toe, wall, retaining wall, pitching, construction of Minor Bridges &LHS, FOB, Platform, Platform Shelters, S&T structures, cable duct and other ancillary works betweenSadulpurtoChuruin Connection withChuru-Sadulpur Doubling Project.

Alembic Pharmaceuticals has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Icatibant Injection, 30 mg/3 mL (10 mg/mL) Single-Dose Prefilled Syringe.

India’s coal import rose by 13.2 percent to 26.10 million tonne (MT) in April 2024 as buyers took fresh positions amid early onset of summer.

The country had imported 23.05 MT of coal in the year-ago period, according to data compiled by B2B e-commerce company mjunction services ltd.

This comes amid coal and mines minister G Kishan Reddy stating that India should increase domestic production of the fossil fuel and reduce coal imports.

“India’s coal and coke imports in April 2024 through the major and non-major ports increased by 13.2 per cent over April 2023,” the data showed.

India’s forex reserves jumped USD 4.307 billion to a new all-time high of USD 655.817 billion for the week ended June 7, the Reserve Bank of India (RBI) on Friday.

The kitty had jumped USD 4.837 billion to USD 651.51 billion in the previous reporting week.

The previous high for the kitty — a crucial guard against any disturbances in the external sector — was USD 648.87 billion on May 10. In the past few weeks, the reserves have witnessed handsome jumps.

For the week ended June 7, foreign currency assets, a major component of the reserves, increased by USD 3.773 billion to USD 576.337 billion, the data released on Friday showed.

India’s domestic air traffic in May rose 4.4 percent when compared to the same month last year. The number climbed to 137.96 lakh passengers carried, data released by the Directorate General of Civil Aviation (DGCA) on June 14 showED.

Domestic air traffic rose 4.5 percent in May when compared with April 2024’s reading, which stood at 132 lakh passengers. Read More

Vodafone Group’s entire stake worth $2.3 billion in mobile-tower operator Indus Towers could be offloaded through block deals this week, Reuters reported on June 14 quoting sources familiar with the development.

Vodafone’s 21.5% stake in Indus is held via various group entities and is valued at $2.3 billion. The report also said that the final deal could be less than the entire stake that Vodafone holds in Indus Towers, in case the demand is weak. Read More

Wipro has been chosen by Hanesbrands Inc. to further drive its digital transformation, business growth, and enhance long term profitability.

This deal extends the partnership to leverage Wipro’s capabilities in application management, cybersecurity, intelligent automation, and artificial intelligence (AI).

The board of One 97 Communications (Paytm) at its meeting held on June 17, 2024, approved the appointment of Shri Rajeev Krishnamuralilal Agarwal as a non-executive independent director of the company with immediate effect for a term of five (5) consecutive years, subject to the approval of the members of the company.

The board took note of the resignation tendered by Shri Neeraj Arora, non-executive independent director of the company on account of pre-occupation and other personal commitments.

Wipro and GBST have entered into a strategic partnership aimed at delivering end-to-end administration services for superannuation, wealth, and pensions companies transitioning from legacy IT environments.

The Company has received an adverse judgement passed by United States District Court, Northern District of Texas, Dallas Division.

The Court ordered that the company is liable to Computer Sciences Corporation (CSC)/ DXC Technology Company (DXC) for USD 56,151,583 in compensatory damages and USD 112,303,166 in exemplary damages.

The Court also assessed that the company is liable for USD 25,773,576.60 in prejudgment interest through June 13, 2024.

The Court also passed certain injunctions and other reliefs against the Company.

The company believes that it has strong arguments in the matter and intend to defend its position through review petition/appeal to the appropriate Court and has no major

adverse impact on its financials and operations.

Adani Ports & Special Economic Zone (APSEZ) has bagged a key environmental and coastal regulation zone approval to more than double the capacity of Mundra port at an investment of Rs 45,000 crore, according to a news report in The Economic Times on June 17.

Mundra already handles the highest-ever volume by any port in India and Adani Group has lined up major investments for upcoming and ongoing projects. For FY25, APSEZ claims that Mundra Port alone is poised to cross the 200 MMT cargo volume mark. Adani’s India volumes are still dominated by Mundra Port, which contributed 44 percent to the cargo volumes at the end of FY24, marginally lower than a year ago. Read More