Former Congress president Sonia Gandhi made a statement regarding the “sovereignty” of Karnataka just a few days ahead of the assembly elections in the state, sparking a major political row and an action by the Election Commission.

The Election Commission on Monday issued a notice to Congress President Mallikarjun Kharge asking to provide clarification and take rectification measures over former party chief Sonia Gandhi`s "Karnataka sovereignty" remarks.

Gold price rose Rs 100 in Tuesday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 61,850, according to the GoodReturns website. Silver price also remained unchanged with 1 kg of the precious metal selling at Rs 78,100.

The price of ten grams of 22-carat gold rose Rs 100 to Rs 56,700.

JB Chemicals & Pharmaceuticals will consider a sub-division of equity shares, said the company in a regulatory filing on Monday. A final decision on this will be taken during the board meeting to be held on Wednesday, 24 May 2023.

The company’s board will also consider and approve the audited financial results for the year and quarter ended on March 31, 2023.

If officials in Rajasthan government are to be believed, Lithium reserves have been traced in Degana (Nagaur) of Rajasthan.

The Geological Survey of India (GSI) and mining officials claim that the capacity of lithium reserves found here is higher than the lithium reserves found in Jammu and Kashmir recently.

It is claimed that there is so much lithium here that 80 percent of India's total demand can be met from here. Till now India is dependent on China for lithium.

Bangladesh continues to have a higher per capita gross domestic product (GDP) when compared to India till 2022, according to the latest data from International Monetary Fund (IMF).

However, the agency estimates that India will have an edge over Bangladesh in the next two years, retaking the lead at least till 2028.

The primary reason for such a trend in Bangladesh could be increased growth fueled by strong external demand. Further, the country has not faced contraction even during Covid-19 pandemic.

Just days ahead of Karnataka Assembly election, Congress general secretary Priyanka Gandhi Vadra on Sunday (May 7) slammed the BJP and Prime Minister Narendra Modi for trying to divert the attention of public from real issues.

Addressing a rally in Karnataka, Priyanka Gandhi said, “Since the election campaign has started, all of us from Congress have been asking BJP leaders and PM Modi to come to the matter at hand.”

As technology companies worldwide continue to conduct layoffs, Apple CEO Tim Cook has said that mass layoffs are a "last resort" for the company. Regardless, Apple has been working to reduce costs and a significant slowdown in its hiring has been registered.

Speaking to CNBC, Cook said that he looks at layoffs "as a last resort" and "mass layoffs are not something that we are talking about at this moment".

Shares of Paytm rallied 5.5 per cent to a high of Rs 726 on the BSE as the stock reacted positively to the company's Q4 performance. Paytm had sharply narrowed down its losses in Q4FY23 to Rs 168 crore as against a loss of Rs 763 crore in the corresponding quarter a year ago.

At 09:35 AM, the stock had pared some gains but was still up over 3 per cent at Rs 712. The counter had seen trades of around 45,000 shares as against the two-week average volume of around 1.96 lakh shares on the BSE. Meanwhile, the S&P BSE Sensex was up 0.7 per cent at 61,498.

Shares of state-owned Coal India Ltd fell 2.7 per cent to Rs 230.7 per share in the intra-day trade on Monday after the world's biggest coal miner reported a 17.7 per cent drop in its March quarter net profit on higher provision made for wage revision of employees. By comparison, the benchmark S&P BSE Sensex was up 0.7 per cent at 9:30 AM.

CIL's consolidated net profit came at Rs 5,527.62 crore in the January-March as compared with Rs 6,715 crore in the same period a year back, according to the company's filing with stock exchanges. The decline in profit in the fourth quarter of 2022-23 (April 2022 to March 2023) was despite higher coal production and dispatches to users.

Indian wire and cable maker RR Kabel Ltd., backed by private equity firm TPG, filed for an initial public offering on Sunday, seeking to raise up to $27.53 million, according to its draft prospectus filed to India's market regulator and seen by Reuters.


RR Kabel, India's fifth largest branded wires and cable manufacturer, plans to use funds raised through the IPO to repay or prepay borrowings, in part or in full, from banks and financial institutions, according to the prospectus.

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