Market Today
Due to foreign investors buying stakes in Jio Platforms, Reliance Industries Ltd Chairman Mukesh Ambani became the world’s fifth-richest person Wednesday, edging past American investor Warren Buffett on the real-time ranking of billionaires by Forbes. With an estimated wealth of $75 billion, Ambani is only next to Facebook co-founder and CEO Mark Zuckerberg, whose wealth is pegged at $89 billion.
2. US govt orders up to 60 crore doses of Pfizer coronavirus vaccines
Pfizer will deliver the doses if the covid vaccine receives emergency use authorization or licensure from the U.S. Food and Drug Administration, after completing demonstration of safety and efficacy in a large Phase 3 clinical trial.
3. Tesla's market value over six months rose above $150 billion
Tesla Inc. Chief Executive Officer Elon Musk unlocked the second chunk of his moonshot pay award. Musk is now able to exercise an additional 1.69 million stock options, though he must wait at least five years before he can sell them.
4. Vodafone Idea Ltd on Wednesday secured a Supreme Court victory in its pursuit of a Rs 833-crore tax refund
The company should get the refund immediately as the top court did not stay the high court order to process the amount in two weeks, said Prashant Meharchandani, senior associate at PDS Legal. “Since the top court has dismissed the plea, the refund should be given along with the applicable interest for delayed refund as per the (Income Tax) Act,” Meharchandani added.
5. L&T Q1 results, Net profit plunges 68% to Rs 536.88 crore
“Revenue was impacted by nation-wide lockdown, resulting in halting of manufacturing and construction activities. Non-availability of labour and disruptions to the supply chain ecosystem also impacted the revenues. International revenues during the quarter at Rs 9,497 crore constituted 45% of the total revenue,” the company said in a statement.
Total income for the quarter dropped 27.19 per cent to Rs 22,037.37 crore.
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