The Quick Estimates of Index of Industrial Production (IIP)with base 2011-12 stands at 143.4 in March 2021. The IIP records a growth of 22.4%. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for March 2021 stand at 139.0, 140.4 and 180.0 respectively. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

Brickwork Ratings (BWR) promoted the long-term rating to BWR BBB (Stable) and short-term rating to BWR A3+ for the bank loan facilities of Ajanta Soya Ltd. The rating upgraded factors in the significant improvement in business and financial risk profile of the company. The rating continues to derive comfort from the company's experienced promoters and diversified product portfolio.

Gold bounced off a one-week low hit earlier on Thursday as a dip in U.S. Treasury yields bolstered the metal's appeal as an inflation hedge. Precious metals remained mild, despite India celebrating the auspicious gold buying festival of Akshaya Tritiya. Gold futures on MCX were down 0.13 per cent or Rs 63 at Rs 47,375 per 10 grams. Silver futures fell 0.09 per cent or Rs 64 to Rs 70,467per kg.

Nxtdigital shares jumped considerably during the early trade on Friday after the company turned profitable in the quarter ended on March 31, 2021. Also, the company board approves the rights issue to raise up to Rs 300 crore. Hinduja Group's Headend-in-the-Sky (HITS) platform reported a consolidated net profit of Rs 13.92 crore for the fourth quarter ended on March 31, 2021.

Wadia group-owned GoAir has filed the Draft Red Herring Prospectus (DRHP) for its IPO. On May 13, the airline rebranded itself as Go First, as part of the preparations for the listing amid a rocky period for the aviation sector due to the pandemic. In the DRHP filed with SEBI, GoAir announced it has applied for registration of the Go First trademark and logo. Will you apply for this IPO?

Dhani Services Limited through its subsidiary, Dhani Healthcare Limited (DCL) will distribute 25 lakh free Covid Care health kit. Each COVID Care Health kit has preventive medicines for 2 persons and the initiative will benefit 50 lakh adults in need of the medicines. These kits will contain a monthly course of medicines- Vitamin C, Vitamin D3, Zinc and Paracetamol.

Johnson & Johnson (J&J) is awaiting approval from the Drugs Controller General of India (DCGI) for bridging trials of its single-dose Janssen COVID-19 vaccine. This comes after the NEGVAC Chairman VK Paul on May 13 announced that vaccine makers such as J&J are “welcome to apply for import license” and approval will be given “in two days”.

Over two billion doses of COVID-19 vaccines will be available in India between August and December this year, said Dr VK Paul, member of Niti Aayog - the government's topmost think-tank. Analysts feel this is positive news from the market's standpoint and should help calm the nervous investors. The announcement can help renew buying interest in BFSI, autos & cement.

Oil prices declined on Friday after falling about 3% a day earlier as Covid cases surged in major oil consumer India and as a key fuel pipeline in the US resumed operations after being shut due to a cyber attack. Brent crude oil futures were down 35 cents, or 0.5%, at $66.70 a barrel by 0200 GMT, while West Texas Intermediate (WTI) was down 28 cents, or 0.4%, at $63.54 a barrel.

The RBI on Thursday cancelled the licence of United Co-operative Bank, Bagnan, West Bengal, as it does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 13, 2021. RBI also requested the Registrar of Cooperative Societies, WB to issue an order for winding up the bank and appoint a liquidator.

Asirvad Microfinance is exploring options of roping in a financial partner and going public in due course. However, it is not in a hurry given the current environment and is adequately capitalised at present to meet its growth, VP Nandakumar, chairman of Asirvad Microfinance. Manappuram Finance took over the Chennai-based company in February 2015 and at present has a 94.78% stake.

IPL franchises Punjab Kings, Royal Challengers Bangalore and Kolkata Knight Riders joined blockchain-powered sports engagement platform Socios, which is backed by cryptocurrency unicorn Chiliz. The Socios platform provides the owners of the fan tokens with access to voting rights in polls, VIP rewards, exclusive club and sponsor promotions, AR-enabled features, chat forums, games and competitions.

Piramal Enterprises on Thursday announced the shrinking of its consolidated net loss to Rs 510.39 crore for the Q4'FY21. The company had posted a net loss of Rs 1,702.59 crore for the corresponding period of the previous fiscal year. Revenue from operations stood at Rs 3,401.56 crore in the quarter under review. It was Rs 3,341 crore in the year-ago period.

The current lockdown-like restrictions in Indian states are expected to get lifted by June-July which should allow for economic normalisation by August and September, said CLSA. Mobility data reveals a material impact on activity when compared to the highs of February 2021, which will hurt earnings in the June quarter and a part of the September quarter as well.

The Uttar Pradesh electricity distribution companies (discoms) dues to the state-run generation utilities, such as UPRVUNL, UPTCL and UP Jal Vidyut Nigam have soared to Rs 17,000 crore. Though the Centre’s Atmanirbhar Bharat package helped these discoms to bring down their dues to CPSUs and IPPS down from Rs 27,000 crore to Rs 5,688 crore at the end of Mar 2021, the dues remain staggeringly high.