News Overview

LIC's shareholding in Biocon has grown from 5,98,14,429 shares to 6,03,14,429 shares.

The company's share price moved significantly, trading at Rs 252.15 per share on the Bombay Stock Exchange (BSE), up 7% as of 10.15 a.m.

Brent crude futures for November fell 3 cents to $73.67 per barrel. U.S. oil futures for October fell 11 cents, or 0.2%, to $71.08 per barrel.

Spot gold rose 0.1% to $2,572.11 per ounce by 0018 GMT. On Monday, bullion reached a record high of $2,589.59.

The purchase will be on a slump sale basis, treating it as a going concern, with a cash-free and debt-free transaction at a lump-sum consideration of ₹840 million.

Since July, the dollar has dropped along with U.S. yields, and at $1.1119 per euro, it is not far off the lowest point of the year, $1.1201

RailTel is also preparing to participate in a government tender for the KAVACH system in locomotives.

Although trading is restricted in the F&O segment, these stocks are still available for trading in the cash market.

The company will use the net proceeds from the IPO for investing in Mehru Electrical and Mechanical Engineers, purchasing plant and machinery, and for other general corporate purposes.

These companies are now poised to tap the capital markets and raise funds for their growth initiatives.