Shares of pharmaceutical companies were under pressure, with the Nifty Pharma index falling 5 per cent on the National Stock Exchange (NSE) in intra-day trade on Tuesday after Dr Reddy’s Laboratories and Alembic Pharmaceuticals reported a disappointing set of numbers for the quarter ended June 2021 (Q1FY22).

At 02:27 pm, Nifty Pharma, the top loser among sectoral indices, was down 5.1 per cent as compared to a 0.69 per cent decline in the Nifty50 index.

Shares of Inox Leisure soared 15 per cent to Rs 347.50 on the BSE in the intra-day trade on Tuesday on reports that Amazon is potentially looking to buy stake in the Indian film and media business. The stock price of Inox Leisure hit its highest level since January 2021.

At 12:56 pm, the stock was trading 6 per cent higher at Rs 320 on the back of an over 10-fold jump in trading volumes.

The overall global Covid-19 caseload has topped 195 million, while the deaths have surged to more than 4.18 million and vaccinations soared to over 3.84 billion, according to the Johns Hopkins University.

In its latest update on Tuesday morning, the University's Center for Systems Science and Engineering (CSSE) revealed that the current global caseload, death toll and the total number of vaccine doses administered stood at 195,346,146, and 4,182,831, respectively.

Total antibody levels start to wane six weeks after complete immunisation with Pfizer and AstraZeneca vaccines, and can reduce by more than 50 per cent over 10 weeks, according to study published in The Lancet journal.

The researchers from University College London (UCL) in the UK noted that if the antibody levels carry on dropping at this rate, there are concerns that the protective effects of the vaccines may also begin to wear off, particularly against new variants.

A Mumbai court on Tuesday remanded businessman Raj Kundra in 14-day judicial custody in a case related to alleged creation of pornographic films and publishing them through some apps.

Kundra, husband of Bollywood actor Shilpa Shetty, was arrested July 19 by the Mumbai police crime branch under sections of the Indian Penal Code and the Information Technology Act.

India recorded less than 30,000 fresh COVID-19 cases after 132 days while its active caseload fell below 4,00,000 after 124 days on Tuesday, according to Union health ministry data.

India recorded 29,689 new coronavirus infections that pushed its tally of COVID-19 cases to 3,14,40,951 while the death toll climbed to 4,21,382 with 415 daily fatalities, the data updated at 8 am showed.

The prices of 22-carat gold in India remained unchanged on Tuesday at Rs 46,870 per 10 gm. Silver made a gain of Rs 400 comparared to yesterday's prices to stand at Rs 67,500 per kg, according to the website Good Returns.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Shares of Dr Reddy’s Laboratories (DRL) hit over three-month low as they fell 8 per cent to Rs 4,982 on the BSE in intra-day trade on Tuesday after the company reported a 1 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 570.8 crore in the June quarter (Q1FY22). The drugmaker had posted a profit of Rs 579.3 crore in the year-ago quarter. The stock was trading at its lowest level since April 19, 2021.

Axis Bank on Tuesday said it has bought 5.55 per cent stake in financial technology firm IBBIC.

The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 per cent of the issued and paid up capital of IBBIC, Axis Bank said in a regulatory filing.

Karnataka Chief Minister B S Yediyurappa said he would resign today—the second anniversary of his government—as he spoke in the state assembly about his tenure

I will resign after lunch, he said in a tearful speech in which he talked about the trial by fire he had faced as chief minister.

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