Zee Entertainment Enterprises has lodged allegations against Star India, a subsidiary of Walt Disney, accusing them of breaching the ICC TV rights agreement and demanding a refund of Rs 68.54 crore paid under the deal. In its Q3 financial statement, filed with the exchanges, Zee stated that it had accrued Rs 72.1 crore for bank guarantee commission and interest expenses as per the agreement terms.

Star India, through legal channels, accused Zee of violating the ICC TV rights agreement by failing to make the first instalment payment of $203.5 million, and the bank guaranteed a commission deposit of around Rs 17 crore.

Diagnostic services provider Agilus Diagnostics on Tuesday, announced that it will withdraw its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI).

The decision to withdraw the DRHP has been taken due to commercial considerations and in consultation and mutual agreement with the private equity investors of Agilus and its board of directors, the company said in a regulatory filing on the Bombay Stock Exchange (BSE).

Congress Parliamentary Party Chairperson Sonia Gandhi is likely to file the Rajya Sabha nomination on Wednesday from Jaipur, sources said.

Congress president Mallikarjun Kharge and party leader Rahul Gandhi are likely to travel with Sonia to Rajasthan's capital city where she will file her nomination, party sources said on Tuesday.

The price of 24-carat gold declined Rs 10 in early trade on Wednesday, with ten grams of the precious metal selling at Rs 62,830, according to the GoodReturns website. The price of silver also fell Rs 100, with one kilogram of the precious metal selling at Rs 75,400.

The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,590.

Tata Motors, India’s leading electric vehicle (EV) maker, on Monday slashed the prices of its two popular cars by up to Rs 1.2 lakh to pass on to consumers the benefits of reduced battery prices.

Depending on the model, the Nexon.ev would now start at Rs 14.49 lakh and the Tiago.ev from Rs 7.9 lakh.
Nexon’s price was reduced by up to Rs 1.2 lakh and the Tiago by is up to Rs 70,000. Prices of the recently launched Punch.ev remain unchanged as the battery price reduction was already factored in, said Tata Motors, which has more than 70 per cent of India’s EV market.

The mercury settled at 11 degrees Celsius on Tuesday morning in Delhi as a partial haze enveloped parts of the city, according to the India Meteorological Department (IMD).

The relative humidity at 8.30 am was recorded at 97 per cent, the IMD's weather bulletin said.

The weather office on Monday had forecast a partly cloudy sky with the possibility of very light rain or drizzle and shallow fog on Tuesday morning.

Ashok Leyland's shareholding in UK-based commercial vehicle maker Optare Plc, which is also the holding company of Switch Mobility Ltd, rose to 92.59 per cent from 92.19 per cent. This comes after the company invested Rs 536.73 crore in the second tranche via equity shares in Optare, it told the exchanges on Tuesday.

In November last year, Ashok Leyland announced that it would invest Rs 1,200 crore in its electric vehicle arm, Switch Mobility, through Optare Plc. In December, it had invested Rs 662.5 crore in the first tranche. On Tuesday, the company said it has completed the investment in the second tranche.

Retail sales of automobiles in January 2024 witnessed a 15 per cent increase to 2.13 million units, compared to 1.85 million units during the corresponding period in 2023.

This growth was observed across all vehicle categories, including two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles, which reported increases of 15 per cent, 37 per cent, 13 per cent, 21 per cent, and 0.1 per cent, respectively, according to data shared by the Federation of Automobile Dealers Associations (FADA).

Reserve Bankof India (RBI) Governor Shaktikanta Das on Monday firmly dismissed any possibility of a review of the central bank’s action against Paytm Payments Bank.

He stated that the decision was taken after a comprehensive assessment of the firm’s operations.

The Reserve Bank of India (RB) on Monday conducted two four-day variable rate repo (VRR) auctions to infuse liquidity into the banking system. The liquidity deficit in the system widened to Rs 1.93 trillion on Sunday.

The central bank conducted two VRR auctions in a day for the first time on Friday, following six fine-tuning variable rate reverse repo (VRRR) auctions between February 2 and 7. This included two one-day VRRR auctions on February 6 and 7.

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