IT firm Happiest Minds announced Rs 36.05 crore net profit for Q4'FY21, a rise of 580% on a YoY basis. The company’s net profit for the same quarter last year stood at Rs 5.3 crore. However, the revenue fell on a sequential basis by 14.5%. The company reported Rs 220.71 crore in revenues for the quarter, up 18.4% YoY, against Rs 186.35 crore for the same period last year.

At least two Indian states announced they decided to use the anti-parasitic drug ivermectin to protect against severe COVID-19 infections as their hospitals are overrun with patients in critical condition. The move by the coastal state of Goa and northern state of Uttarakhand, come despite the World Health Organization and others warning against such measures.

Air traffic dipped 66% in 2020-21, particularly in big cities although some small airports boomed in the tumultuous year, data from the Airports Authority of India showed. Domestic traffic fell 61.7% while international travel fell 84.8%, according to annual statistics issued by the state-run entity that manages 137 airports including 24 that have international flights.

Bill Ackman acquired a stake worth almost $1 billion in Domino’s Pizza adding another big-name consumer company to his portfolio, and said his blank-check firm is nearing a separate deal to take an “iconic” brand public in the coming weeks. Ackman’s Pershing Square Capital Management owns a little under 6% of the pizza chain’s shares, he said Wednesday at a conference.

Paytm is likely to acquire about 7% stake in QR code-based payments business PayPay Japan, almost two years after the Vijay Shekhar Sharma-led company was given the call option to convert its holdings into shares. The development was revealed in SoftBank’s regulatory filings. Notably, SoftBank owns about 20% stake in Paytm’s parent entity One97 Communications.

The Delhi government has written to the Centre, saying the surplus oxygen that is being given to it can be supplied to other states. Deputy CM Manish Sisodia said on Thursday that the national capital had a requirement of 700 MT of oxygen when the number of cases was rising but now that the figure is showing a declining trend, the requirement has come down to 582 MT.

The Indian Drug Manufacturers' Association (IDMA) on May 12 requested the Centre to issue compulsory licences to pharmaceutical companies so that they can make essential medicines used in COVID-19 treatment. Compulsory licensing in emergency situations lets drugmakers manufacture the medicines without permission from the patent holder.

Japanese shares plunged on Thursday, with the Nikkei average hitting a four-month low, as SoftBank Group and expensive stocks were pummelled by U.S. inflation scare. The Nikkei dropped 2.49% to 27,448.01, hitting its lowest level since early January. Over the past three sessions, the index has lost 7.01%, its biggest three-day fall since the market turmoil in March 2020.

The crypto market shrank more than $365 billion in market-cap after Tesla CEO Elon Musk tweeted that the electric vehicle maker is putting on hold the use of bitcoin to purchase its vehicles citing environmental concerns. At the time of the announcement, the value of the whole cryptocurrency market stood at around $2.43 trillion. It dropped to $2.06 trillion, wiping off around $365.85 billion.

The first truck carrying medical-grade oxygen left Vedanta’s Sterlite plant in Tamil Nadu’s Thoothukudi at 7 am on May 13, about 15 days after the SC permitted its reopening to manufacture the life-saving gas to save Covid patients. The supply started a day after newly elected Chief Minister MK Stalin ordered industries and medical departments to immediately set up more units to produce oxygen.

Boeing Co on Wednesday won approval from U.S. regulators for a fix of an electrical grounding issue that had affected about 100 737 MAX airplanes, clearing the way for their quick return to service after flights were halted in early April. The Federal Aviation Administration (FAA) had signed off on two service bulletins Boeing sent to air carriers on Wednesday on the fixes.

FPI holdings in NSE-listed companies saw a marginal QoQ decline in percentage terms in Q4 F21. According to Primeinfobase.com report, FPI holding stood at 22.60% as of March 31, 2021, down from 22.74% as of Dec 31, 2020. The quarter witnessed a net inflow of Rs 55,741 crore. RIL, HDFC, ICICI, Godrej Properties, Dixon Tech and HDFC Bank were among the firms registering the highest buying by FPIs.

Lupin's net profit (PAT) grew 18.2% YoY to Rs 460.4 crore for the Q4'FY21 led by cost optimisation and growth in India and other emerging markets. The company reported a net profit of Rs 390 crore during the corresponding period of the previous year. Revenues of Lupin dropped by 1.6% YoY to Rs 3,783 crore, compared to the previous year's Rs 3845.7 crore. On a QoQ basis, the revenue dropped 5.8%.

Bandhan Bank’s weak quarterly earnings triggered further de-rating of the stock, with analysts slashing up to 33% of their earnings estimates for FY22 and FY23, as they feel the bank is not fully prepared for the Covid second wave. Brokerages said Bandhan’s weak asset quality and high credit cost have been an outcome of external circumstances, and not because of its underwriting practices.

A financing round is likely to value personal care brand Mamaearth at $700 million, higher than $200 million in 2020. Belgian investment fund Sofina will likely lead the funding round, which is expected to be in the range of $60-80 million. Private equity firm Kedaara Capital also reportedly held talks with Mamaearth, but it was unclear if it would participate in the financing round.