Prime Minister Narendra Modi on Wednesday said he is pained by the loss of lives due to a tragic fire in Hyderabad and announced an ex-gratia of Rs 2 lakh each for the next of kin of the deceased.

Eleven migrant workers were charred to death in a major fire accident at a scrap godown in Hyderabad in the early hours of Wednesday.

Rashtriya Janata Dal (RJD) leader Lalu Prasad, who was discharged from AIIMS here around 3 am after being kept under observation overnight, was brought to the emergency department again around 12.30 pm Wednesday, sources said.

The former Bihar chief minister, 73, was brought to AIIMS here at around 9 pm on Tuesday after being referred by a medical board of the Rajendra Institute of Medical Sciences (RIMS), Ranchi, as his health condition deteriorated there.

Shares of steel companies were in focus in an otherwise weak market after reports emerged that India's top steelmakers have hiked prices of rebar and HRC (Hot Rolled Coil) by Rs 1,500-Rs 2,000 a tonne due to inflated raw material cost.

Shares of Steel Authority of India (SAIL) gained 4 per cent to Rs 103.80, while Jindal Steel and Power (JSPL) hit a 52-week high of Rs 504.95, up 2 per cent on the BSE in Wednesday’s intra-day trade. JSW Steel and Tata Steel were up 1 per cent and 2 per cent, respectively. In comparison, the S&P BSE Sensex was down 0.5 per cent at 57,704 points at 01:45 PM.

Shares of Indian Hotels Company were up 3 per cent to Rs 215 on the BSE in Wednesday's intra-day trade after the Tata Group company announced that its qualified institutional placement (QIP) committee has approved the QIP issue on March 22, 2022. The company has proposed to mobilize around Rs 2,000 crore through QIP and has fixed floor price at Rs 203.48 per share.

At 09:33 am, Indian Hotels traded 1 per cent higher at Rs 210.60, as compared to 0.34 per cent gain in the S&P BSE Sensex. The stock had hit a 52-week high of Rs 230.14 on October 14, 2021.

The price of 10 gram of 24-carat gold on Wednesday increased by Rs 400 to Rs 52,100, while 1 kg of silver became dearer by Rs 600 to Rs 68,900.

Ten gram of 22-carat gold is trading at Rs 47,750 after an increase of Rs 350.

The price of 10 gram of 24-carat gold in Delhi and Mumbai stood at Rs 52,100 while the 10 gram of 22-carat gold in Mumbai and Delhi is trading at Rs 47,750.

Eleven people were charred to death in a major fire accident at a scrap godown here in the early hours of Wednesday.

The deceased, all migrant workers from Bihar, were found on the first floor of the building at Bhoiguda in the city, police and fire officials said.

The eleven people were charred beyond recognition, a police official told PTI, adding the cause of the fire was being ascertained.

The National Company Law Tribunal has extended the Jet Airways revival plan deadline till March 29 based on submissions made by the Kalrock Jalan consortium and lenders. The deadline was expiring on March 22.

The deadline has been extended by a week to allow lenders to formulate their view on the consortium's application. The matter will now be heard on March 29.

The income tax department has stepped up its operation against real estate players, conducting searches at 24 premises in multiple cities belonging to Mumbai-based Hiranandani Group.

Last week, several premises linked to Omaxe were searched by the department for allegedly indulging in “unaccounted” cash transactions with customers of around Rs 3,000 crore. Delhi-based Omaxe is a listed real estate developer.

Power distribution utilities outstanding dues stood at Rs one lakh crore at the end of February this year, Parliament was informed on Tuesday.

As per data provided by the power sector Generating companies, on the PRAAPTI Portal, at the end of February 2022, a total amount of Rs 1,00,931 crores is due from the DISCOMs, Power Minister RK Singh said in a written reply to the Rajya Sabha.

Shares of New Delhi Television (NDTV) were locked in the upper circuit band for a second straight day, up 5 per cent at Rs 238.15, also its multi-year high, on the BSE on Tuesday in an otherwise weak market.

The stock exchanges have revised circuit filter limit for NDTV's stock from 10 per cent to 5 per cent with effect from today. In the past four trading days, the stock of the broadcasting & cable TV operator has zoomed 47 per cent. It was at its highest level since October 2008.

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