Hindustan Laboratories and RK Steel get SEBI approval to launch IPOs

Hindustan Laboratories and RK Steel get SEBI approval to launch IPOs


Hindustan Laboratories’ IPO will comprise a fresh issue of 50 lakh shares and an offer for sale of 91 lakh shares by its promoter, with proceeds aimed at working capital and general corporate purposes. RK Steel Manufacturing Company’s IPO is entirely a fresh issue of up to 2 crore equity shares, with funds earmarked for debt repayment, working capital, and corporate needs.

Generic drug maker Hindustan Laboratories Limited and steel tubes and pipes manufacturer RK Steel Manufacturing Company have secured SEBI’s approval to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Thursday.

The two companies, which filed their preliminary IPO papers in January 03, 2026, obtained SEBI’s observations on April 27, 2026.

In SEBI’s parlance, obtaining observations is equivalent to securing approval to float a public offering.

Hindustan Laboratories’ maiden public offering comprises a fresh issue of 50 lakh shares, along with an offer for sale (OFS) of 91 lakh shares by the promoter, according to the draft red herring prospectus (DRHP).

The company proposes to utilise IPO proceeds for funding the working capital requirements and general corporate purposes.

Hindustan Laboratories is an Indian pharmaceutical company primarily engaged in the large-scale manufacturing and supply of generic medicines to government institutions under a business-to-government (B2G) framework.

RK Steel Manufacturing Company’s IPO is entirely a fresh issue of up to 2 crore equity shares with no OFS component, draft papers showed.

The company plans to allocate funds towards repayment or prepayment of certain borrowings, working capital requirements, and general corporate purposes.

Shares of both companies will be listed on the BSE and NSE.

Published on April 30, 2026



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Storage in over 50% of India’s major reservoirs drops below 40% of capacity

Storage in over 50% of India’s major reservoirs drops below 40% of capacity


A view of the water level at the Malampuzha Dam in Palakkad.
| Photo Credit:
K K Mustafah

Storage in over 50 per cent of India’s 166 major reservoirs dropped below 40 per cent of their capacity last week, even as the overall level fell below 40 per cent of capacity, data from the Central Water Commission (CWC) showed.

The CWC’s weekly status on the major reservoirs showed that the level in the southern region dropped below 30 per cent. 

The level in the 166 reservoirs was 38.72 per cent of the 183.565 billion cubic metres (BCM) capacity at 71.082 BCM, with storage in the remaining four above 40 per cent. Storage was, however, higher by 14 percentage points a year ago and 26.5 percentage points than normal (past 10 years).

Bengal situation precarious

According to the India Meteorological Department (IMD), over a third of the country received deficient or no rainfall from March 1 to April 29. However, pre-monsoon rainfall has begun to lash some parts of the country, particularly the south. 

Storage in the southern region’s 47 reservoirs was 28 per cent of the  55.288 BCM capacity at 15.580 BCM. The level in Telangana was the lowest at 20.87 per cent, while it was 24 per cent in Karnataka. Andhra had the highest storage at 39 per cent, while it was 37 per cent in Tamil Nadu, and 28 per cent in Kerala. 

With the level in Bengal declining to 12 per cent and in Assam to 18.5 per cent, the 27 reservoirs in the eastern region were filled to 34 per cent or 7.481 BCM of the 21.759 BCM capacity. Odisha’s dams were filled to 33 per cent, while Jharkhand’s were half-empty. The level in the lone reservoirs in Meghalaya and Tripura was 70 per cent and 58 per cent, respectively. 

More decline likely

Storage in 11 reservoirs in the northern region was 43 per cent of the 19.836 BCM capacity at 8.593 BCM. The level in Punjab was 68 per cent, while in Himachal and Rajasthan, it was 36.6 per cent and 48.3 per cent, respectively.

Storage in the 53 reservoirs of the western region was 45 per cent of the 38.094 BCM capacity at 17.187 BCM. The level in Goa’s lone reservoir was 41 per cent, and in Gujarat and Maharashtra, it was 51.8 per cent and 39 per cent, respectively. 

The 28 reservoirs in the central legion were filled to 45.7 per cent or 22.241 BCM of the 48.588 BCM capacity. Storage in Chhattisgarh was 59 per cent, while it was 47 per cent in Madhya Pradesh. In Uttar Pradesh, the level was 41 per cent, and in Uttarakhand it was 30 per cent. 

With summer at its peak and heatwaves reported across various parts of the country, storage will likely decline further.

Published on May 1, 2026



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Q4 Results 01st May Live: Jindal Steel, Punjab Chemicals, ZEN Technologies to announce Q4 results, Adani Enterprises, Adani Ports, HUL, Bajaj Finserv, Mazagon, Edelweiss in focus

Q4 Results 01st May Live: Jindal Steel, Punjab Chemicals, ZEN Technologies to announce Q4 results, Adani Enterprises, Adani Ports, HUL, Bajaj Finserv, Mazagon, Edelweiss in focus


Two investors are working together with analyzing the stock data graphs in the paper and viewing the data on the laptop screen. istock photo for BL
| Photo Credit:
wutwhanfoto

Q4 Results Today, May 1, 2026, Live Updates: Find the latest Q4 updates of Jindal Steel, Punjab Chemicals, ZEN Technologies and more. Adani Enterprises, Adani Ports, HUL, Bajaj Finserv, Mazagon, Edelweiss and more in focus

Stay tuned for more updates from businessline

  • May 1, 2026 11:24
    Quarterly results
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    Sona BLW Q4 results live: Q4 profit up

    Mobility technology company Sona BLW Precision Forgings (Sona Comstar) reported a 17 per cent increase in profit after tax for the March quarter, with PAT rising to ₹192 crore from ₹161.4 crore in the corresponding period last fiscal.

    Revenue for the quarter surged 47 per cent year-on-year to ₹1,272.30 crore, compared with ₹868.40 crore in Q4 FY25.

  • May 1, 2026 11:22
    Quarterly results
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    HUL Q4 RESULTS LIVE: Revenue rises 8 per cent to ₹16,207 crore, fastest growth in 12 quarters

    FMCG major Hindustan Unilever (HUL) reported March quarter results largely in line with Street expectations, with revenue rising 8 per cent year-on-year to ₹16,207 crore—its fastest growth in 12 quarters—while underlying performance came in ahead of estimates.

  • May 1, 2026 11:01
    Quarterly results
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    Adani Ports Q4 results live: Revenue up 26 per cent, profit rises 9 per cent on strong cargo volumes

    Adani Ports and Special Economic Zone reported a strong performance for the March quarter and the full year FY26, supported by record cargo volumes and continued expansion in its logistics and marine segments.

    For Q4 FY26, the company posted consolidated revenue of ₹10,738 crore, marking a 26 per cent year-on-year increase. EBITDA rose 20 per cent to ₹6,020 crore, while net profit grew 9 per cent to ₹3,308 crore, indicating resilient operational performance despite ongoing global trade uncertainties.

  • May 1, 2026 10:49
    Quarterly results
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    Indiamart Intermesh Q4 results live: Net profit falls

    Indiamart Intermesh Ltd, a B2B e-commerce company, on Thursday reported a 72.2 per cent decline in consolidated net profit to ₹50.2 crore for the March quarter.

    Indiamart Intermesh Q4 net profit falls 72.2% to ₹50 cr

  • May 1, 2026 10:48
    Quarterly results
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    Adani Enterprises Q4 results live: Strong revenue, infra momentum; depreciation drag leads to net loss

    Adani Enterprises Ltd (AEL) ended Q4 FY26 with robust revenue growth and stable operating performance, driven by momentum in its incubating infrastructure businesses. However, higher depreciation from newly commissioned assets, including the Navi Mumbai airport and its copper plant, weighed on the bottom line, resulting in a reported net loss for the quarter.

Published on May 1, 2026



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Markets shut today for Maharashtra Day after sharp losses, trading to resume May 4

Markets shut today for Maharashtra Day after sharp losses, trading to resume May 4


Equity, currency and debt markets across India will remain closed today, May 1, on account of Maharashtra Day. Trading activity will resume on Monday, May 4.

The market holiday comes a day after benchmark indices ended Thursday’s session with notable losses, capping a volatile trading day influenced by global pressures and rising geopolitical concerns.

BSE Sensex declined 582.86 points, or 0.75 per cent, to settle at ₹76,913.50. Similarly, the NSE Nifty 50 dropped 180.10 points, or 0.74 per cent, to close at 23,997.55.

Global cues remained weak. At the time of filing this report, Brent crude oil futures fell 1.22 per cent to $116.59, although earlier in the session prices had surged above $120 per barrel, weighing heavily on investor sentiment.

Asian markets reflected a cautious tone. US markets showed mixed signals with a negative bias. Dow Jones Futures slipped 0.18 per cent, and the S&P 500 dipped 0.04 per cent, while the Nasdaq posted a marginal gain of 0.04 per cent.

Earlier on Thursday, domestic markets opened sharply lower amid heavy selling pressure. The Nifty 50 began the session at 23,899.20, down 278.45 points or 1.15 per cent, while the Sensex opened at 76,582.24, declining 914.12 points or 1.18 per cent.

Market participants attributed the weakness to surging crude oil prices and continued uncertainty in West Asia, which have heightened volatility and risk aversion among investors.

With global headwinds persisting, investors are expected to remain cautious when markets reopen next week.

Published on May 1, 2026



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SEC approves Nasdaq index-linked prediction-style options trading on Nasdaq-100

SEC approves Nasdaq index-linked prediction-style options trading on Nasdaq-100


The move reflects growing interest among exchanges in event-based trading instruments that allow bets on real-world outcomes. Nasdaq said the approval supports its “Outcome-Related Options” initiative, while rival Cboe Global Markets is also preparing similar products pending regulatory clearance.
| Photo Credit:
JEENAH MOON

The U.S. Securities and Exchange
Commission on Thursday approved a proposal ​by Nasdaq’s
options trading venue to list and trade ‌a new class of stock
market prediction instruments ​tied to a major index, according
to ⁠a regulatory order.
Several firms are increasingly seeking to enter the prediction
markets space, which allows users to bet ‌on the outcomes of
real-world events as it gains legitimacy and opens up ‌new
revenue streams and market insights.

The New York-based ‌exchange ⁠operator’s products are
cash-settled contracts that pay ⁠a fixed amount at expiration
depending on whether the index finishes above or below a set
level.

The SEC said the ​binary options – a ‌type of contract that
offers a payout based on the outcome of a yes-or-no bet – would
have a “fixed, all-or-nothing exercise settlement amount” of
$100 if ‌they expire in the money.

Nasdaq MRX, an ​electronic U.S. options exchange operated by
Nasdaq, will initially list the options linked ⁠to the Nasdaq-100
index and the Nasdaq-100 Micro index.
The Nasdaq-100 tracks 100 of the largest, non-financial
companies ‌listed on Nasdaq’s exchange, including Apple
, Nvidia and Intel. The micro index is
based on 1/100th of the full value of the Nasdaq-100.
The commission granted accelerated approval to Nasdaq’s request
that it applied for in March, saying the ‌proposal was
“consistent with the requirements of the act” and ​did not raise
new regulatory concerns.

“We welcome the SEC’s approval of Nasdaq MRX’s proposal ⁠to
list and trade Outcome-Related Options (OROs) tied to the
Nasdaq-100 ⁠Index,” a Nasdaq spokesperson said.
Its peer and options heavyweight Cboe Global Markets
is also ‌targeting a second-quarter launch for its “all-or-none”
styled contracts focused on financial and economic events,
subject ​to regulatory approvals.

Published on May 1, 2026



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Trump administration says Iran war ended under ceasefire, sparks War Powers Act debate

Trump administration says Iran war ended under ceasefire, sparks War Powers Act debate


U.S. Defense Secretary Pete Hegseth testifies before a Senate Armed Services Committee hearing on U.S. President Donald Trump’s FY2027 budget request for the Department of Defense on Capitol Hill in Washington, D.C., U.S., April 30, 2026.
| Photo Credit:
KEN CEDENO

The Trump administration is arguing that the war in Iran has already ended because of the ceasefire that began in early April, an interpretation that would allow the White House to avoid the need to seek congressional approval.

The statement furthers an argument laid out by Defense Secretary Pete Hegseth during testimony in the Senate earlier Thursday, when he said the ceasefire effectively paused the war. Under that rationale, the administration has not yet met the requirement mandated by a 1973 law to seek formal approval from Congress for military action that extends beyond 60 days.

A senior administration official, who spoke on condition of anonymity to discuss the administration’s position, said for purposes of that law, “the hostilities that began on Saturday, Feb 28 have terminated.” The official said the US military and Iran have not exchanged fire since the two-week ceasefire that began April 7.

Ceasefire interpretation and Strait of Hormuz tensions

While the ceasefire has since been extended, Iran maintains its chokehold on the Strait of Hormuz, and the US Navy is maintaining a blockade to prevent Iran’s oil tankers from getting out to sea.

Under the War Powers Resolution, the law that sought to constrain a president’s military powers, President Donald Trump had until Friday to seek congressional authorisation or cease fighting. The law also allows an administration to extend that deadline by 30 days.

Congressional pushback on military authority

Democrats have pushed the administration for formal approval of the Iran war, and the 60-day mark would likely have been a turning point for a swath of Republican lawmakers who backed temporary action against Tehran but insisted on congressional input for something longer.

“That deadline is not a suggestion; it is a requirement,” said Sen Susan Collins, R-Maine, who voted Thursday in favour of a measure that would end military action in Iran since Congress hadn’t given its approval. She added that “further military action against Iran must have a clear mission, achievable goals, and a defined strategy for bringing the conflict to a close.”

Proposal to reframe the mission

Richard Goldberg, who served as director for countering Iranian weapons of mass destruction for the National Security Council during Trump’s first term, said he has recommended to administration officials to simply transition to a new operation, which he suggested could be called “Epic Passage,” a sequel to Operation Epic Fury.

That new mission, he said, “would inherently be a mission of self-defence focused on reopening the strait while reserving the right to offensive action in support of restoring freedom of navigation.”

“That to me solves it all,” added Goldberg, who is now a senior adviser at the Foundation for Defense of Democracies, a hawkish Washington think tank.

Legal interpretation challenged by experts

During testimony before the Senate Armed Services Committee on Thursday, Hegseth said it was the administration’s “understanding” that the 60-day clock was on pause while the two countries were in a ceasefire.

Katherine Yon Ebright, counsel at the Brennan Center for Justice’s Liberty and National Security Program and an expert on war powers, said that interpretation would be a “sizeable extension of previous legal gamesmanship” related to the 1973 law.

“To be very, very clear and unambiguous, nothing in the text or design of the War Powers Resolution suggests that the 60-day clock can be paused or terminated,” she said.

Broader implications for presidential war powers

Other presidents have argued that the military action they’ve taken was not intense enough or was too intermittent to qualify under the War Powers Resolution. But Trump’s war in Iran would certainly not be such a case, Ebright said, adding that lawmakers need to push back against the administration on that kind of argument.

Published on May 1, 2026



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