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Business News/ News / India/  Top news today: Fourth phase of polling begins, Q4 Results, Indegene IPO, Modi's Bihar rally, IPL & more — May 13 update

Top news today: Fourth phase of polling begins, Q4 Results, Indegene IPO, Modi's Bihar rally, IPL & more — May 13 update

Key events to watch on May 13 include PM Narendra Modi's rallies in Bihar and Varanasi, this week's Q4 results, the Indegene IPO, the IPL match between Gujarat Titans vs Kolkata Knight Riders, and Supreme Court hearing of Jharkhand CM Hemant Soren's case.

Top news of the weekPremium
Top news of the week

Top news today on May 13: There are a host of developments, updates and events expected in India and internationally in the political, financial and general spheres on May 13. We take a look:

  • Phase Four of Lok Sabha Elections 2024: Voting for the fourth phase of the Lok Sabha Elections 2024 began at 7 am this morning. This phase will cover 96 parliamentary constituencies in nine states and one Union Territory. Additionally, simultaneous elections will be conducted for 175 assembly seats in Andhra Pradesh and 28 assembly seats in Odisha during this phase.
  • General Elections 2024 Update: On Monday, polling is taking place across various regions including all 25 Lok Sabha constituencies in Andhra Pradesh, five in Bihar, one in Jammu and Kashmir, four each in Jharkhand and Odisha, eight each in Madhya Pradesh and West Bengal, 17 in Telangana, 11 in Maharashtra, and 13 in Uttar Pradesh. As of Phase 3 of the General Elections 2024, voting has concluded smoothly and peacefully in 283 Lok Sabha constituencies across 20 states and Union Territories. Vote counting is scheduled for June 4.
  • Indegene IPO listing: Indegene Limited's initial public offering (IPO) is set to hit the markets today, as per the BSE website. The company's shares will debut on both the BSE and NSE during a special pre-opening session. In the lead-up to the listing, the grey market, an unofficial platform for trading IPO shares before their official listing, has shown strong optimism towards Indegene IPO. This suggests a robust demand and the potential for significant listing gains. Market analysts and experts predict that the IPO's grey market premium (GMP) has surged, indicating a projected listing gain of over 65 percent for those fortunate enough to be allotted shares. Moreover, experts anticipate that the Indegene share price could range between 740-760 per share upon listing. 
  • IPL Match Preview: Gujarat Titans (GT) are set to clash with Kolkata Knight Riders (KKR) at the Narendra Modi Stadium in Ahmedabad this evening at 7:30 PM. With 5 victories in 12 matches, GT needs to secure victories in their next 2 games to potentially advance to the playoffs. KKR has already secured a spot in the playoffs, becoming the first team to do so. According to Google's win probability, Kolkata holds a 56% chance of defeating Gujarat in their 13th IPL match.
  • Q4 results today: At least 51 companies will announce their Q4FY24 financial results today. Varun Beverages, Zomato, Jindal Steel & Power, Aditya Birla Capital, UPL, Tube Investments, Chalet Hotels, Karur Vysya Bank, Inox India, Electrosteel Castings, Bombay Burmah Trading Corporation, Balkrishna Paper Mills, TCFC Finance, Eiko Lifesciences, and Cera Sanitaryware are among the companies that will announce their Q4 earnings today. The fourth quarter earnings season for this fiscal year began in the second week of April and is still ongoing. Over 500 companies are scheduled to announce their Q4 results in this week.
  • PM Modi on campaign trail: Prime Minister Narendra Modi is set to visit the renowned Sikh shrine Takht Harmandir Patna Sahib before engaging in rallies in Bihar's Hajipur, Muzaffarpur, and Saran, which are poised for polls in the upcoming phase. He has already addressed seven election rallies in the state, which has a total of 40 Lok Sabha seats. Modi is also scheduled to visit the Kashi Vishwanath temple in Varanasi, Uttar Pradesh, today ahead of filing his nomination on May 14. Later in the day, he will hold a roadshow in the Varanasi Lok Sabha constituency. The seat is a stronghold of the BJP and Modi. He won it twice in the 2014 and 2019 Lok Sabha elections.
  • Hemant Soren hearing: The Supreme Court is scheduled to a plea of Jharkhand Mukti Morcha leader and former chief minister Hemant Soren challenging his arrest by the Enforcement Directorate (ED) in a money laundering case linked to an alleged land scam. 
  • Voter encouragement: Voters in Telangana's Hyderabad, Karimnagar, Khammam and Warangal will get free bike taxi, autorickshaw and cab rides on May 13, Rapido said. The ride hailing platform has teamed up with the Chief Electoral Office to encourage voters to exercise their franchise. On election day, voters can avail free rides on the Rapido app using the code 'VOTENOW'. As many as 17 seats in Telangana are voting today. 
  • Tech surprise likely: OpenAI is likely to unveil its AI-powered search tool today, Reuters reported citing sources. This move intensifies the rivalry between OpenAI and search giant Google. The specific announcement date, although it might change, has not been made public until now. Reports from Bloomberg and The Information indicate that OpenAI, supported by Microsoft, is developing a search tool to vie with Google and Perplexity, an AI search startup with substantial funding. When approached, OpenAI declined to respond. However, the company announced on X (formerly Twitter) that it would livestream an event today to showcase updates to ChatGPT and GPT-4. CEO Sam Altman later stated on X, "Not gpt-5, not a search engine, but we’ve been hard at work on some new stuff we think people will love! feels like magic to me."

(With inputs from PTI, ANI and Reuters)

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Published: 13 May 2024, 07:46 AM IST
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