LIC public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors.

The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth.

The LIC initial public offering (IPO), now open for retail and institutional investors, is set to close on May 9.

India's largest two-wheeler maker Hero MotoCorp posted weak set of numbers as both bottom and top line took a hit, mainly due to weak rural demand, price hikes and high raw material costs.

“With the economy picking up, we expect the demand for motorcycles and scooters to see a positive turnaround in the coming months. While concerns related to high input costs continue to remain a challenge, we will keep monitoring the situation and take judicious measures as appropriate," said Hero MotoCorp CFO Niranjan Gupta.

Facebook is pulling out of podcasts and plans to remove them altogether from the social-media service starting June 3.

Part of Meta Platforms Inc., Facebook will stop letting people add podcasts to the service starting this week, according to a note sent to partners. It will discontinue both its short-form audio product Soundbites and remove its central audio hub.

India on Monday reported 3,157 new Covid-19 cases, a decline from the 3,324 infections registered the previous day, the Union Health Ministry said, adding that the country's daily positivity rate has crossed the 1 per cent mark.

According to the Ministry, the daily positivity rate as of Monday morning stood at 1.07 per cent, while the weekly positivity rate was 0.70 per cent.

Shares of Gokdaldas Exports were up 4 per cent at Rs 416.50 on the BSE in Monday’s intra-day trade, surging 18 per cent in the past two trading days after the company reported a robust performance in the March quarter (Q4FY22).

Its consolidated earnings before interest, taxes, depreciation, and amortization (ebitda) margin improved 170 bps QoQ and 365 bps YoY to 13.1 per cent on account of positive operating leverage.

With the buzz on merger of L&T Infotech (LTI) and Mindtree getting stronger, analysts believe that the merged entity will start on a strong foundation of growth as the combined total contract value (TCV) of both the companies at the end of FY22 was over $3 billion, but they are still skeptical on the timing of the merger.

Among the mid-cap players, both LTI and Mindtree have performed well for the fourth quarter of FY22 as well as for the full year. LTI, which crossed the $2 billion revenue mark for the fiscal post its result reported that its streak of bagging large deals continues.

Attacking the ruling AAP over the clashes in Patiala, the Congress on Sunday said it cannot evade responsibility for the "crumbling" law-and-order situation in Punjab and asked why its national convener Arvind Kejriwal was "shying away" from appealing for peace.

Congress leader Alka Lamba alleged that with the Aam Aadmi Party now in the government of a full state, the chief minister of Delhi was using the police against his political opponents.

India's unemployment rate rose to 7.83% in April from 7.60% in March, data from the Centre for Monitoring Indian Economy (CMIE) showed on Sunday.

The urban unemployment rate rose to 9.22% in April from 8.28% the previous month, while the rural unemployment rate slipped to 7.18% from 7.29%, the data showed.

The global coronavirus caseload has topped 513.8 million, while the deaths have surged to more than 6.23 million and vaccinations to over 11.31 billion, according to the Johns Hopkins University.

In its latest update on Monday morning, the University's Center for Systems Science and Engineering (CSSE) revealed that the current global caseload and the death toll stood at 513,837,679 and 6,236,433, respectively, while the total number of vaccine doses administered increased to 11,312,957,285.

Shares of Tata Chemicals have rallied 7 per cent to Rs 1,002.80 on the BSE in Monday’s intra-day trade in otherwise a weak market. The surge comes after the company reported a consolidated profit after tax (PAT) of Rs 470 crore in March quarter, against Rs 29 crore in the corresponding quarter of last year.

The stock of Tata Group commodity chemicals company had hit a 52-week high of Rs 1,158 crore on October 18, 2021. At 09:16 AM, it traded 6 per cent higher as compared to 0.59 per cent fall in the S&P BSE Sensex.

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