Author: Abizar Attari
News Editor

The global cryptocurrency market has experienced a sharp distribution wave with one of the world’s key tokens, XRP, plummeting to a fifteen-week low of $1.30. This price drop highlights the temporary shifts in the market, where more than 25 million XRP tokens have left the exchanges as investors are now looking to move gains into long-term storage.  This surge in redemptions came in the past few days, with almost 9,000 XRP redeemed on May 29 alone. Various multi-day outflows totaling hundreds of millions of dollars have contrasted sharply with earlier inflows and have directly weighed on prices.  A similar trend…

Mumbai: Pharmaceutical major Wockhardt Limited has achieved a historical milestone with the US Food and Drug Administration (USFDA) approving its breakthrough novel antibiotic, Zaynich. This comes after Wockhardt became the first Indian pharma company to file a New Drug Application (NDA) with the US FDA last year, and has shown how the domestic pharma sector is slowly moving beyond manufacturing copycat generic drugs based on established formulations.  The company has taken more than two decades to develop Zaynich through a targeted Research and Development (R&D) campaign and seen success that could rival that of Novo Nordisk’s Ozempic weight loss drug. …

Hyderabad: Digital Transformation and surveillance solutions provider Magellanic Cloud Limited has announced a new order worth ₹7.64 crore from the South Central Railway, Nanded Division, through its wholly owned subsidiary Provigil Surveillance Limited. The order involves supplying, installing, testing, commissioning, and maintaining IP-based CCTV surveillance systems for the stabling lines, washing yards, and pit lines in the Nanded division. This project will be executed over 12 months, along with a five-year recurring maintenance stream post commissioning. This will add to Magellanic Cloud’s expanding public sector e-surveillance order book, which exceeds ₹200 crore for FY26. To date, Magellanic Cloud has supported…

Thane: Urban Infrastructure and sustainable solid waste management company Antony Waste Handling Cell Limited has reported a strong growth in its Q4 results as the company reports strong growth across all segments. This has meant a 14% year on year (YoY) rise in revenues to ₹254.4 crore for the quarter ended March 31, 2026 from ₹222.6 crore during the same period last year.  The company has reported stronger collection & transportation and processing volumes growing 6% and 32% year on year, respectively. Along with these results, the company has also announced its maiden dividend of ₹0.50 per share. “FY26 was…

Mumbai: Specialty chemicals and colorants manufacturer Vipul Organics Limited has reported a strong 148.59% rise in Profit After Tax (PAT) at ₹1.973 crore for Q4FY26 from ₹79.3 lakh reported during the same period last year.  This rise has come despite the company facing challenges due to delayed export shipments following the conflict in the Middle East. The company has doubled down on domestic clients while shifting its focus to specialized, higher-margin product categories.  This development comes at a time when the company has seen mixed revenue results in preceding quarters, as operational challenges and demand fluctuations have made it difficult…

Pune: Construction and infrastructure development company Univastu India Limited has reported a strong 145% year on year rise in net profit to ₹10.33 crore for the quarter ended March 31, 2026 from ₹ 4.21  crore reported during the same period last year. This came after the company reported a massive surge in its order book with unexecuted orders worth ₹1,854.16 crore fur the quarter.  The company is now looking to achieve an annual Compounded Annual Growth Rate (CAGR) of 40% over the next three years. Univastu seems to be on track, as its EBITDA has grown 85% year on year…

“Winning the semiconductor race will not be easy if India continues to run the existing race; instead, it should shift gears and target becoming the ecosystem player that the global semiconductor industry cannot run without,” the NITI Aayog said in its ‘Future of India’s Semiconductor Industry’ report released on Friday, May 29. In the report, the leading government think tank argues that India needs to focus on developing its strengths, including domestic design talents, compound materials, and advanced packaging to develop a $120-150 billion semiconductor value chain by 2035. Instead of spending crores on chasing trailing-edge sub-7-nanometer logic foundries, NITI…

Mumbai: Industrial logistics player Aegis Vopak Terminals Limited (AVTL) has reported a strong 15.3% rise in Profits After Tax (PAT) for the quarter ended March 31 at ₹738.74 crore from ₹640.79 crore reported from the same time last year. This comes at a time when the company has seen high capacity utilization of its coastal infrastructure across its network. Revenues for the quarter also increased 22.2% to ₹2,434.52 crore from ₹1,991.69 crore from the same period last year as the company capitalized on India’s energy import boom.  Along with this, AVTL has also declared a final dividend of ₹0.20 per…

Mumbai: India’s leading wind energy solutions provider, Inox Wind Limited, has seen a challenging quarter, with its Q4 Profit After Tax (PAT) falling 45% from ₹192 crore in Q4FY25 to ₹106 crore this time. This is despite its revenues remaining relatively flat at ₹1,306 crore from Rs. 1,316 crore recorded during the same quarter last year, the company revealed in a regulatory filing.  The company has faced challenges with its legacy EPC vertical as well as geopolitical component friction, which has seen the wind giant shift away from site development to insulate future revenues.  The Reasons: Geopolitical Friction & Working…

Mumbai: India’s largest paint and coatings manufacturer, Asian Paints Limited, has delivered an exceptional performance, with net profit rising to ₹1,172 crore, up 69% from ₹692.13 crore in the corresponding quarter of FY25. For the company, strong volume growth in the domestic decorative space had stabalised raw material input pools, helping Asian Paints beat analysts’ expectations of a muted quarter. This has also meant sales have increased 10% to ₹9,228.5 crore this quarter, compared to ₹8,329.6 crore from the corresponding quarter last year, according to media reports and regulatory filings.  Along with this, Asian Paints has declared a final dividend…