India logged 3,207 new coronavirus infections taking the total tally of COVID-19 cases to 4,31,05,401, while the active cases dipped to 20,403, according to the Union Health Ministry data updated on Monday.

The death toll climbed to 5,24,093 with 29 fresh fatalities, the data updated at 8 am stated.

Shares of Larsen & Toubro Infotech (LTI) and Mindtree were down up to 5 per cent on the BSE in Monday’s intra-day trade after the two companies announced a merger on Friday in an all-stock amalgamation of Mindtree with LTI. Shareholders of Mindtree will receive 73 shares of LTI in exchange for 100 shares in the former.

Among the individual stocks, Mindtree slipped 5 per cent to Rs 3,206.90, while LTI was down 2 per cent to Rs 4,486.35 on the BSE in trade today.

Shares reserved for Qualified Institutional Buyers (QIB), including banks and mutual funds in the LIC's public offer were subscribed fully on Monday morning, taking the overall subscription of the issue to a little over 2 times.

Against 3,95,31,236 reserved, 4,61,62,185 bids were received, reflecting a subscription of 1.17 times, according to data posted on stock exchanges at 12:12 pm.

Shares of Tata Power dipped 9 per cent to Rs 223 on the BSE in Monday’s intra-day trade on the back of heavy volumes despite the company reported strong March quarter (Q4FY22) results. The company reported 76 per cent year on year (YoY) increase in consolidated profit after tax (PAT) before exceptional items at Rs 775 crore while consolidated revenue grew 16 per cent YoY at Rs 12,085 crore.

The company received approval for merger of Coastal Gujarat Power Limited (CGPL) into Tata Power and signed binding agreement for investment in India’s most comprehensive renewable energy platform.

Shares of Avenue Supermarts, which runs the D-Mart chain of stores, hit an over 8-month low of Rs 3,486, down 5 per cent on the BSE in Monday’s intra-day trade. In comparison, at 11:34 am, the S&P BSE Sensex was down 0.91 per cent at 54,335 points.

The stock that has fallen 12 per cent in the past two days, was today trading at its lowest level since August 11, 2021. It has corrected 41 per cent from its 52-week high level of Rs 5,899.90 touched on October 18, 2021.

Glenmark Pharmaceuticals on Monday said its US-based arm has received tentative approval from the US health regulator for its generic Calcipotriene and Betamethasone Dipropionate foam used to treat psoriasis.

The tentative approval granted to Glenmark Pharmaceuticals Inc, USA (Glenmark) by the US Food & Drug Administration (USFDA) is for Calcipotriene and Betamethasone Dipropionate foam of strength 0.005 per cent/0.064 per cent, the company said in a statement.

Travel and hospitality platform OYO said it has concluded the acquisition of Europe-based company Direct Booker with the transaction valuing the acquired entity at $5.5 million.

A market-leading player in the vacation home management segment in Dubrovnik, Croatia, Direct Booker was started in 2010 by Nikola Grubelic and Nino Dubretic. The company has over 3,200 homes and serviced 2 million customers so far.

Adani group on Monday announced it has raised $250 million three year debt from Standard Chartered Bank and Barclays Bank for capital expenditure at six airports that it manages under a public private partnership.

The group has option to raise another $200 million under the existing facility, the company said in a statement.

Campus Activewear made decent stock market debut as shares got listed at Rs 355, 22 per cent higher against issue price of Rs 292 per share on the BSE on Monday.

However, at 10:01 am; it was down 4 per cent from its listing level and traded at Rs 340.65. The stock has hit high of Rs 364.80 and a low of Rs 339.90 in intra-day trade so far. Around 666,000 equity shares changed hands on the counter. In comparison, the S&P BSE Sensex was down 1.1 per cent at 54,231 points.

The rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday weighed down by the strength of the American currency in the overseas market and unabated foreign fund outflows.

At the interbank foreign exchange, the rupee opened at 77.17 against the American dollar, then lost ground to quote at 77.42, registering a fall of 52 paise from the last close.

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