Thursday, 30 May 2024
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Stock Market

Market In Freefall, Nifty Below 22,250, Sensex Drops 600 Points

  • Tata Electronics Ltd. has begun shipping a limited quantity of semiconductor chips that have been packaged.
  • the corporation plans to build a $10 billion chip foundry in Dholera, Gujarat.
  • The stock market opened on Tuesday with a markedly bullish attitude.

The US FDA has approved Gland Pharma Ltd’s generic Edaravone injection, which is used to treat amyotrophic lateral sclerosis. The single-dose bags containing injections of edaravone at dosages of 30 mg and 60 mg per 100 ml are covered by the approval. In cooperation with its marketing partner, the company intends to commercialize the product in 2025.

With a pilot line in Bengaluru, Tata Electronics Ltd. has begun shipping a limited quantity of semiconductor chips that have been packaged.

Sensex and Nifty

These sealed chips are being shipped to partners of Tata Electronics in the US, Europe, and Japan. In addition, the corporation plans to build a $10 billion chip foundry in Dholera, Gujarat, and a new chip packaging factory in Morigaon, Assam.

Marico Ltd.’s stock increased by 10% following the company’s Q4FY24 results, which showed a 5% increase in consolidated net profit. The fourth quarter statistics for Happiest Minds Technologies’ fiscal year 2023–24 showed a nearly 25% increase in consolidated net profit at Rs 71.98 crore (FY24). The previous 2022–2023 fiscal year (FY23) saw the company declare a profit of Rs 57.66 crore for the January–March quarter.

With the Sensex trading above 73,900 and the NSE Nifty50 standing 26 points higher, the stock market opened on Tuesday with a markedly bullish attitude. As the low-cost carrier’s first step into the wide-body market, IndiGo placed a binding agreement with Airbus for thirty A350-900 aircraft.

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