NHPC announced that it is incorporating a joint venture (JV) company with Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL). The name of the joint venture company is Ratle Hydroelectric Power Corporation Limited.  

While BSE Energy index rose by 2.29 per cent since the onset of June 2021, the shares of a Gujarat-based natural gas transmission company skyrocketed by around 11 per cent for the same period of time.  

The pump market in India by revenue is expected to grow at a CAGR of over 7 per cent during the period 2021–2026 and the demand may be due to the increasing application of pumps in several end-user sectors, says Dinesh Patidar, Chairman and Managing Director, Shakti Pumps India Ltd.  

On Friday, Mahindra & Mahindra announced that its subsidiary, Mahindra Telephonics Integrated Systems (a JV between Mahindra Defence Systems Limited & US-based Telephonics Corporation) signed a contract with the Indian Ministry of Defence for the procurement of 11 airport surveillance radars (ARS).  

The global pharma major, Lupin Limited announced today that it has launched the authorised generic version of Brovana inhalation solution (Arformoterol Tartrate) of Sunovion Pharmaceuticals in the strengths of 15 mcg/2ml unit dose vials.   

The key market and economic news that impacted financial markets during the week.

RailTel Corporation of India Ltd has secured an order worth Rs 119.72 crore from Bharat Coking Coal Limited (BCCL).

Glenmark Pharmaceuticals Ltd, a leading pharmaceutical company, announced today that it has received USFDA approval for Theophylline extended-release (ER) tablets of strengths 300 mg & 450 mg. 

On Friday, the domestic markets remained volatile as Sensex erased morning gains to slide into the negative territory, trading at 51,976.11 levels, down by 0.6 per cent. Even then, some buzzing stocks locked in at their respective upper circuits, defying the subdued market sentiments.

During Friday’s trading session, the stock of Angel Broking Ltd has hit the upper circuit of 5 per cent and made a new 52-week high of Rs 834 per share. In the last one month, the stock of the company has risen by 95 per cent.