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Karnataka sells ₹423 crore worth surplus power to national grid

Teen sells 2 startups, $100K + AI exit win

Promoter sells Rs 1,024 crore worth of Ajanta Pharma shares in block deal to Kotak MF and ABSL MF

A promoter entity of Ajanta Pharma sold shares worth over Rs 1,024 crore through a block deal on Tuesday, with domestic mutual funds emerging as the buyers. According to NSE block deal data, Ravi Agrawal Trust sold 34.5 lakh shares of Ajanta Pharma at Rs 2,968 per share. The transaction was valued at about Rs 1,024 crore.The shares were picked up by two domestic fund houses. Kotak Mahindra Mutual Fund acquired 21.02 lakh shares, while Aditya Birla Sun Life Mutual Fund purchased 13.48 lakh shares. Both transactions were executed at the same price of Rs 2,968 per share.Ajanta Pharma is a specialty pharmaceutical company with a presence across branded generics, emerging markets and select developed markets. The company has built a strong franchise in therapeutic segments such as ophthalmology, cardiology, dermatology and pain management, while also expanding its footprint in international markets.The company has been one of the stronger performers in the pharmaceutical space, benefiting from steady earnings growth, healthy margins and a robust balance sheet. Investors have also favoured the stock due to its focus on branded formulations and relatively limited exposure to pricing pressures in the US generics market.Ajanta Pharma reported good fourth quarter results, with revenue and EBITDA coming in 1-3%, ahead of analysts estimates. PAT was 23% higher than the views, helped by higher Other income and a lower tax rate. US generics business sustained robust growth momentum, up 47% YoY in USD terms"We raise our FY27E-FY28E core earnings estimates by 2%. AJP trades at 31.2x FY27E core P/E. We retain our target price at Rs 3,115 based on 29.9x FY28E core P/E plus cash per share. We retain our Accumulate rating. Geopolitical disruptions to the business and a spike in raw materials price & freight cost are key risks to our call. We introduce FY29 estimates," Elara Capital said post the earnings.

Lenskart shares fall over 2% as JPMorgan sells stake in Rs 96 crore block deal

Lenskart Solutions' shares fell more than 2% to Rs 497 on the BSE on Monday after JPMorgan Chase's offshore subsidiary Copthall Mauritius Investment sold a stake in the company through a Rs 96 crore block deal. Stock exchange data showed that Hong Kong-based hedge fund Viridian Asia Opportunities Master Fund bought 18.96 lakh shares of the company. Viridian bought Lenskart shares at an average price of Rs 508.55 apiece, taking the value of the total stake purchase to more than Rs 96 crore, according to NSE data. The seller of these shares was JPMorgan Chase’s offshore subsidiary Copthall Mauritius Investment Limited. The transaction was executed on Friday at an average price of Rs 508.55 apiece, which is slightly higher than Friday’s closing price of Rs 506.45 apiece on NSE.Lenskart has seen multiple block deals recently. Last week, SoftBank affiliate SVF II Lightbulb (Cayman) pared its stake in the eyewear retailer by selling 5.65 crore shares at Rs 508.55 apiece. Several global and domestic institutional investors picked up shares. The buyers included funds managed by Goldman Sachs and Fidelity, alongside domestic institutions such as ICICI Prudential Mutual Fund, Kotak Mutual Fund, Mirae Asset Mutual Fund, Quant Mutual Fund, HDFC Life Insurance, and ICICI Prudential Life Insurance. The deal, valued at approximately Rs 2,873 crore, also attracted participation from several overseas pension and investment funds.Lenskart share priceLenskart Solutions shares made a subdued market debut in November last year, listing at Rs 395 apiece on NSE at a discount to the IPO price of Rs 402. The shares of the company then surged more than 41% to hit a record high of Rs 557.65 apiece in April this year.The stock is currently down over 9% from that level. However, it is up over 28% from its listing price and 26% from its IPO price. The shares of the company have fallen 2.5% in one week, but gained 15% in 2026 so far. The company currently has a market capitalisation of nearly Rs 88,000 crore.Brokerages on Lenskart share priceJefferies has a ‘Buy’ call on the shares of Lenskart, with a target price of Rs 600 apiece in its base case scenario. Goldman Sachs, meanwhile, has a ‘Buy’ rating on the shares of Lenskart, with a target price of Rs 625 apiece.Morgan Stanley, on the other hand, is ‘Overweight’ on the shares of Lenskart, with a target price of Rs 576 apiece. Elara Capital recently initiated coverage on the shares of Lenskart with a target price of Rs 615 apiece, highlighting that an integrated ecosystem and tech agility fortify the eyewear retailer’s edge amid low competition, vast opportunity, and superior store economics.Lenskart earnings snapshotLenskart in May reported a nearly 46% YoY surge in revenue from operations to Rs 2,516 crore for the January-March quarter of FY26, from Rs 1,727 crore in the year-ago period, leading to bullish brokerage calls and target price hikes.While the company reported a strong surge in revenue, its net profit declined 9% YoY to Rs 200 crore during the quarter under review, from Rs 219 crore in the corresponding quarter of the previous financial year.For the entire financial year which ended on March 31, 2026, Lenskart reported a 32% YoY rise in revenue to Rs 9,002 crore. EBITDA climbed 55.3% YoY to Rs 1,789 crore, while adjusted PAT surged 148% YoY to Rs 530 crore.Sensex, Nifty today: Catch all the LIVE stock market action here (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Man sells unlisted shares for 7.59cr, pays no tax

Drug-addict Punjab man fakes ex-wife's child's death, sells toddler for Rs 5 lakh

Drug-addict Punjab man fakes ex-wife's child's death, sells toddler for Rs 5 lakh

‘Ready to co-develop Su-57 further with India without restrictions’: Putin hardsells fighter jet

Russia's President Putin has offered India joint development and production of the fifth-generation Su-57 stealth fighter jet. Despite India's withdrawal from a previous joint project, Russia is open to collaboration, aiming to bolster defence ties amidst India's own AMCA project and regional security concerns.

This Japanese Mango Is Worth Rs 2.5 Lakh Per Kg. It Is Now Growing In Telangana

Rapalli Satyam runs an Ayurvedic and Yoga Ashram. His latest success involves the Miyazaki mango – a Japanese variety of mango that sells for Rs 2.5 lakh per kg

Akshay Kumar sells two flats in Borivali for Rs 7.1 crore: Report

Akshay Kumar has sold two residential units in Oberoi Sky City, Borivali (East), Mumbai, for a total of ₹7.1 crore. The larger apartment, spanning 1,101 sq ft, fetched ₹5.75 crore, while the smaller 252 sq ft unit sold for ₹1.35 crore. Both properties were acquired by Suvarna Rupeshkumar Sakpal.

US drug regulator flags lapses at Dabur plant

The U.S. Food and Drug Administration has flagged data integrity, manufacturing and maintenance lapses at one of Dabur India's plants following an inspection earlier this year, according to an inspection report. Dabur is one of India's oldest and largest consumer goods companies, describing itself as one of the world's largest suppliers of Ayurvedic products with a legacy of ‌over 140 ⁠years. It ⁠sells a range of over-the-counter and consumer health products in the United States, including cough and cold rubs, antifungal creams, pain relief gels and oral care products. The findings, issued after the FDA inspected the company's factory in the country's western region of Dadra and Nagar Haveli in January, said some units in the facility posed risks of microbiological contamination. The report also said critical manufacturing records were falsified ⁠to conceal ‌that equipment meant to make certain products had been used for multiple other products. A live bird and bird droppings were found in ⁠the raw material warehouse, about 30 feet from packaging materials. An apparent unidentified black substance was also seen covering more than 25% of ceiling surfaces in both the raw material warehouse and the finished drug product storage warehouse, according to the report, which was made public earlier this week. The findings come amid heightened regulatory scrutiny of Indian drugmakers over quality controls for medicines and health products exported to the United States, their ‌largest overseas market. The FDA inspector also questioned the reliability of testing at the plant, noting that although microbiology test results were reported as within limits, significant contamination was observed ⁠in multiple samples during the inspection. Dabur did not immediately respond to a Reuters request for comment. Following a form 483, which is issued after a U.S. FDA inspection, companies usually respond to the regulator with corrective steps taken to address the concerns. The report also said management had not reviewed drug production and quality records to determine compliance with regulatory requirements before batches were released to the market, and cited deficiencies in equipment cleaning and maintenance procedures.

RBI's FY26 income gets Rs 1.69L cr forex boost

MUMBAI: The Indian central bank's gains from foreign exchange transactions rose 52% to Rs 1.69 lakh crore ($17.70 billion) in the fiscal year ending March, according to its annual report released on ‌Friday. The ⁠Reserve Bank ⁠of India realises gains when it sells dollars from its reserves in the foreign exchange markets to protect the rupee, benchmarking those sales to its historical average price of dollar purchases. In the previous ⁠year, the ‌RBI reported a Rs 1.11 lakh crore gain from forex intervention. Earlier ⁠this month, the central bank said it will transfer a record Rs 2.87 lakh crore ($29.99 billion) to the federal government for last fiscal year, ended March 2026, after a transfer to its contingency reserves. The RBI's balance sheet expanded ‌by 20.61% to Rs 91.97 lakh crore ($961.1 billion) as of March 31, 2026. Alongside gains from foreign ⁠exchange operations, the RBI also earned from its investments in foreign securities, such as U.S. treasuries. Interest income from foreign securities rose to Rs 1.07 lakh crore from Rs 970.07 lakh crore in the previous year.

Gujarat Man Sells Wife For Rs 50,000 To His Friends; She Gets Gangraped For 10 Days

Seven persons, including the husband, were arrested in connection with the case, police said.