V2 Retail, the fastest-growing retail company in India has announced the opening of a new retail store at Rourkela (Odisha). Further, in line with Company’s strategy to evaluate performance over various parameters including store wise profitability, the Company has closed two retail stores located at Chapra (Bihar) & Kota (Rajasthan). Currently, 94 retail stores of the Company are operational.

Indiabulls Real Estate Limited announced a consolidated profit at Rs94.4cr in Q4FY21 against a loss of Rs109.8cr during the same quarter in the previous fiscal. The company’s revenue in Q4FY21 rose to Rs759.5cr from Rs151.7cr YoY. The new sales zoomed-in Q4FY21 to Rs629cr from Rs379cr in Q4FY20 and gross collection Rs866cr in Q4FY21 from Rs603cr in Q4FY20.

upGrad garnered $120 Mn from Temasek, a global investment company headquartered in Singapore. This is the edtech company’s first external equity funding round since being founded in 2015.  The company will use the funds to scale its operations in international markets, pursue mergers and acquisitions in the edtech space and expand its graduate and postgraduate degree portfolio.

Biocon Biologics, a subsidiary of Biocon Ltd reported that Abevmy 100 & 400 mg, a biosimilar of Bevacizumab co-developed with Viatris Inc. bagged marketing authorization approval from the European Commission following the positive recommendation by the CHMP. Abevmy is approved for the treatment of metastatic colorectal carcinoma, and metastatic breast cancer among others.

Natco Pharma, on April 26, announced it had applied to the Central Drugs Standard Control Organization (CDSCO) for approval of Phase-III clinical trial of COVID-19 antiviral drug Molnupiravir Capsules for the treatment of COVID-19 positive patients. Pre-clinical data have shown that Molnupiravir has broad anti-influenza activity, including highly potent inhibition of SARS-CoV-2 replication.

Tech Mahindra is expected to report 2-3% sequential growth in dollar revenue and 1.5-2% QoQ growth in constant currency for the quarter ended March 2021 due to the weak new deal signings in the past nine months. Brokerages expect better deal wins for the March quarter. The stock has fallen 2.4% in the current calendar year so far, underperforming Nifty IT index that gained 5.6% in the same period.

Oil prices eased slightly on Monday on concerns that a resurgence of coronavirus infections in India and Japan would cut fuel demand in Asia. Brent crude futures fell 8 cents, or 0.1%, to $66.03 a barrel by 0058 GMT, following a 1.1% rise on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $62.10 a barrel, after rising 1.2 per cent on Friday.

Reliance Industries and BP on April 26 announced the start of production from the Satellite Cluster gas field in Block KG D6. The field is located about 60 km from the existing onshore terminal at Kakinada, Andhra Pradesh in water depths of up to 1,850 meters. It will produce gas from four reservoirs and is expected to reach gas production of up to 6 mmscmd.

HDFC Life Insurance Company is expected to announce a 12% and 16% YoY growth in profit and net premium income for the quarter ended March 2021. Sequentially, the same parameters may jump 25-30%. According to brokerages, annual premium equivalent (APE) may grow over 25% YoY as well as quarter-on-quarter (QoQ) in Q4 FY21.

HCL Technologies provided a skill-based allowance of 25-30% of their CTC to about 16,000 employees. “These are skills where customers are paying a premium and we are passing it on to the employees. Over the years the number of people who qualify for this allowance has seen a steady increase, " said Apparao V V, chief HR officer. The software major introduced skill-based allowances 3 yrs ago.

Vistara wants to fly doctors and nurses representing government organisations for free within the country, amid a harsh second wave of COVID-19 cases. In a letter to Usha Padhee, Joint Secretary, MoCA, Vistara also said it wants to help govt organisations and hospitals that have an immediate need for air logistics. Doctors and nurses will be accommodated on a first-come-first-serve basis.

Mahindra & Mahindra Financial eyes to carve out a special business unit for its fintech vertical, which will be run like a “separate independent company”, announced Ramesh Iyer, Managing Director at Mahindra & Mahindra Financial Services. The company will allot Rs 250-300 crore to this entity. To be called Digital Finco, it will focus on small-ticket loans, particularly in the two-wheeler space.

Steel prices increased immensely in the week ended 16 April 2021, in response to the global rise in steel prices. Prices have gone up by ~59% YoY in the month (until April 16). Crude steel production rose 19% YoY (7% MoM) to 9.7 mt in March. Steel consumption grew 41% YoY to 8.74 MT. However, it declined 6% MoM in April as companies looked to exports to benefit from strong global steel prices.

Brokerages continued a bullish view on HCL Technologies on strong deal wins and robust IT services outlook even as the fourth-quarter earnings were below estimates. The IT major reported a 25.6% sequential fall in its consolidated net profit to Rs 2,962 crore for the quarter ended March. The company's consolidated revenues rose 1.8% from a quarter ago to Rs 19,642 crore.

Britain geared up to register faster economic growth than the United States this year as the country races ahead with its vaccination programme after its slump in 2020, Goldman Sachs said. The bank stated in a note to clients that it now expects British gross domestic product to grow by a "striking" 7.8% this year, "above our expectations for the U.S."