News Overview

According to a regulatory filing, GQG Partners purchased 2,15,64,517 equity shares of Patanjali Foods via the offer for sale (OFS) mechanism. This is a 5.96% ownership position in Patanjali Foods.

Markets in Asia were also paying attention to China's decision on its loan prime rate (LPR), which is anticipated to maintain lending benchmarks after the central bank decided to do nothing about a crucial policy rate earlier this week.

The government ordered an inspection of the company following reports of alleged tax evasion

The company successfully filed its first Abbreviated New Drug Application (ANDA) for the BORTEZOMIB injection with the US Food and Drug Administration (USFDA).

Recommendation: Buy; Target price: Rs 5092

The dollar index fluctuated close to a more-than-year low, lowering the price of gold for owners of other currencies.

Reportedly, the bank is planning to issue 15-year infrastructure bonds.

Meanwhile, the non-banking financial arm of Federal Bank, Fedbank Financial Services Ltd (FedFina), plans to raise funds through an IPO.

The company has not yet finalized the size, pricing, and tenor.

The new wind project adds 115 MW to Torrent Power's installed renewable capacity, bringing it to 1.18 GW.