The BJP and Congress on Monday welcomed the arrest of Delhi government minister Satyendar Jain and asked Chief Minister Arvind Kejriwal to remove him from his cabinet.

Jain was taken into custody under criminal sections of the Prevention of Money Laundering Act (PMLA) after a few hours of questioning on Monday, Enforcement Directorate (ED) officials said.

Shares of Raymond hit a new 52-week high of Rs 986 after they rallied 6 per cent on the BSE in Monday’s intra-day trade, extending their rally on strong earnings. The stock of the garments & apparels firm surpassed its previous high of Rs 964.15 touched on April 13, 2022. It had hit a record high of Rs 1,152 on May 2, 2018.

In the past one month, the stock has outperformed the market by gaining 18 per cent as compared to 2 per cent decline in the S&P BSE Sensex.

Automaker Nissan Motor India on Monday said it has inaugurated its new corporate headquarters in Gurugram.

The facility will house key functions, including sales, marketing, aftersales, finance, human resources and corporate communications, among others.

Infrastructure major Larsen and Toubro (L&T) on Monday said it has received another significant contract order for Chennai Metro Rail Project.

According to the company's project classification, the value of a significant order ranges between Rs 1,000 crore to Rs 2,500 crore.

L&T Construction awarded another Significant contract for Chennai Metro Rail Project (CMRL), L&T said in a statement.

Tata Motors' subsidiary Tata Passenger Electric Mobility Limited (TPEML) on Monday signed a tripartite memorandum of understanding (MoU) with Ford India Private Limited and the Government of Gujarat for takeover of Ford's passenger vehicle manufacturing plant at Sanand.

Signed between Gujarat government's Additional Chief Secretary (ACS) - Industries, Rajiv Kumar Gupta, Tata Passenger Electric Mobility Managing Director, Shailesh Chandra and Ford India Pvt. Ltd.'s Transformation Officer and Country Head, Balasundaram Radhakrishnan.

E-commerce giant Amazon on Monday announced it will open a new consumer robotics software development centre here that will build solutions for the world.

The India centre will help support Amazon's international Robotics division, which launched its first robot Astro last year.

The board of directors of the state-owned Life Insurance Corporation of India (LIC) will meet on Monday to declare the financial results for the fiscal year ended March 2022, and also consider payment of dividend, if any.

LIC, which was listed on May 17 at the bourses, said the board will consider and approve the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2022.

Shares of JSW Steel dipped 4 per cent to Rs 525.75 on the BSE in Monday’s intra-day trade, in an otherwise firm market, after the company reported disappointing results in terms of profit in Q4FY22. The company's consolidated profit after tax (PAT) declined 20 per cent year on year (YoY) to Rs 3,343 crore in March quarter on higher raw material cost, lower net sales realisation, and an impairment provision. The company’s net profit a year ago stood at Rs 4,191 crore.

Shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 988, as they rallied 4 per cent on the BSE in Monday’s trade after the company reported a 17 per cent year-on-year (YoY) rise in standalone profit (before exceptional items) at Rs 1,167 crore for the March quarter (Q4FY22) compared with Rs 998 crore in the same quarter last year. After accounting for exceptional items, profit rose 427 per cent to Rs 1,292 crore from Rs 245 crore in the same quarter last year.

India is also set to see the curtains for yet another round of oil and gas auctions as companies are set to submit the bids for the third round of discovered small fields on May 31.

These fields are spread over nine sedimentary basins covering over 13,000 square kilometers with in-place hydrocarbons estimated to be around 230 million metric tonne.

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