Shares of Lemon Tree Hotels surged 9 per cent on the BSE to hit a record high of Rs 129.30 in Tuesday’s intra-day trade amid heavy volumes driven by expectations of strong earnings.

In comparison, the S&P BSE Sensex was down 0.43 per cent at 71,958 at 09:56 AM.

State-backed insurer Life Insurance Corporation of India (LIC) has received a goods and services tax (GST) notice of Rs 806.3 crore from the Deputy Commissioner of State Tax, Mumbai. In a regulatory filing, the company said that it would file an appeal against the order.

The total includes GST worth Rs 365.02 crore, penalty of Rs 404.7 crore and interest of Rs 36.5 crore.

Following the Reserve Bank of India (RBI) tightening norms for alternative investment fund (AIF) investments by regulated entities (REs), Indiabulls Housing Finance (IBHFL), a RE, may have set aside about Rs 1,000 crore as provision for a likely impact of the new rules.

IBHFL’s investments in such subordinated units of AIF schemes at a consolidated level are about Rs 1,000 crore.

December auto sales: Bajaj Auto set its foot in 2024, recording a 16 per cent overall boost in its year-on-year (Y-o-Y) sales in December 2023, selling 326,806 units, the company said in a BSE filing on Monday.

The automaker said that it recorded a 26 per cent jump in two-wheeler (2Ws) domestic sales (Y-o-Y) in December at 158,370 units from 125,553 in December 2022. It also lodged a slight increase of 3 per cent in its two-wheeler exports at 124,631 units, up from 121,499 units in December 2022.

India is grappling with a surge in Covid-19 cases linked to the JN.1 sub-variant, prompting both central and state governments to exercise heightened vigilance and readiness. The country recorded 636 new cases as of 8 am on Monday morning, bringing the total number of Covid-19 cases to 45,013,908 since January 2020. According to central government data, there are currently 4,394 active cases in the country. Kerela has the highest number of active cases at 1,869, followed by Karnataka (1,000 cases), and Maharashtra (693).

Shares of RailTel Corporation of India (RailTel) hit a new high of Rs 368.85, as they rallied 9 per cent on the BSE in Monday’s intra-day trade backed of heavy volumes in an otherwise subdued market. In past six trading days, the stock of telecom services provider has surged 27 per cent after winning orders worth of Rs 263 crore. In past two months, it has zoomed 68 per cent. While, in past six months it skyrocketed 182 per cent.

At 10:09 AM; RailTel was quoting 8 per cent higher at Rs 366.10, as compared to 0.16 per cent decline in the S&P BSE Sensex.

Billionaire Gautam Adani's sprawling conglomerate has raised over USD 5 billion (Rs 41,500 crore) in equity and a double of that in debt this year as the apples-to-airport group made a comeback since being hit by a bombshell short seller report.

Adani, who was the world's second-richest man at the start of the year, saw almost USD 60 billion of his personal wealth erased after Hindenburg Research in a January 24 report accused his group of market manipulation and accounting fraud.

Shares of Bharat Heavy Electricals (BHEL) hit a multi-year high of Rs 204.65, as they rallied 6 per cent on the BSE in Monday's intra-day trade on reports that the state-owned company won Rs 19,422 crore turnkey contract from the another public sector company NLC India.

The stock was trading at its highest level since October 2015. At 09:36 AM; BHEL was quoting 5 per cent higher at Rs 203.45, as compared to 0.15 per cent decline in the S&P BSE Sensex.

India recorded 743 fresh cases of COVID-19 in the last 24 hours. The total active caseload increased by seven, reaching 3,997, according to the Union Health Ministry.

As per official data, seven deaths have been reported in the country in the last 24 hours - three in Kerala two in Karnataka, and one each in Chhattisgarh and Tamil Nadu.

The Maryada Purushottam Shri Ram International Airport in Ayodhya, to be inaugurated by PM Narendra Modi today, is located strategically and is expected to facilitate travel for devotees and tourists.

Spread over an area of 336.59 acres, with a built-up area of 8000 sq m, the airport has been built at a cost of Rs 250 crore. The design complements the upcoming Ayodhya airport and is a clear departure from the regular airport formats.

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