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Here are the top stories to start your day.
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⭐ Axis Bank to buy additional stake
Axis Bank has entered into a revised agreement with Max Financial to buy additional 7% stake in Max Life Insurance. This stake will be bought at fair market value using a discounted cash flow method. Against this backdrop, shares of Max Financial, which is the holding company for Max Life, were up 3.6%.
⭐ Zydus Lifesciences gets USFDA nod
The pharma company has received final approval from the United States Food and Drug Administration (USFDA) to market Febuxostat Tablets (40 mg and 80 mg). These tablets are used for controlling high uric acid levels in patients. Febuxostat tablets had annual sales (September 2022) of $32 million in the United States.
⭐ Cyient DLM files for ₹740 crore-IPO
The electronic manufacturing services and solutions provider has filed its draft papers with market regulator SEBI to raise ₹740 crore through the IPO route. The money raised through the fresh issue will be used for capital working requirements and expenditure.
Global markets (at 9:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.10% |
| Nikkei 225 (Japan) | ▲ 0.98% |
| Hang Seng (Hong Kong) | ▲ 1.11% |
| SSE Composite (China) | ▲ 0.20% |
| Dow Jones (US) (January 10) | ▲ 0.56% |
| NYSE (US) (January 10) | ▲ 0.57% |
| Nasdaq (US) (January 10) | ▲ 1.01% |
| S&P 500 (US) (January 10) | ▲ 0.70% |
Fact of the day
Apart from ready-to-assemble furniture, IKEA also sells tiny homes