Latest Business, Finance, and Share Market News as of 5:30 pm on May 16, 2024

In today’s latest business news transcript at 5:30 PM on May 16, 2024, several significant developments have been reported across various sectors.

Firstly, the Kolkata Metro has seen a surge in the use of QR-coded tickets, with over 13 lakh commuters utilizing this technology on the Sector Five-Sealdah and Esplanade-Howrah Maidan stretches. This shift towards digital ticketing has provided added convenience to passengers, with over 9,300 tickets being purchased via the ‘Metro Ride Kolkata’ app.

In the pharmaceutical industry, Lupin Limited has received approval from the U.S. FDA for its generic equivalent of Rydapt Capsules, 25 mg. This approval allows Lupin to market Midostaurin Capsules, 25 mg, which are used to treat various conditions such as aggressive systemic mastocytosis and mast cell leukemia.

Moving on to the political arena, a report has revealed that out of 866 candidates contesting in the sixth phase of the Lok Sabha elections, 141 have declared serious criminal cases against themselves. This highlights the ongoing issue of criminalization in Indian politics.

In the corporate world, Takeda Biopharmaceuticals India Pvt Ltd has appointed Annapurna Das as the General Manager for its India operations. This move aims to strengthen the company’s presence in the Indian market and enhance patient access to innovative medicines.

Additionally, the Delhi High Court has decided not to cap airfares across the country, citing the competitive nature of the airline industry. The court emphasized that market forces should determine ticket pricing.

Lastly, the benchmark equity indices closed on a positive note, with the BSE Sensex and NSE Nifty 50 recording gains. Tata Consumer Products, LTIMindtree, and M&M were among the top gainers, while Maruti Suzuki and SBI were the key laggards.

Overall, these developments reflect the dynamic and diverse landscape of the business and political spheres in India.