MELBOURNE (Reuters) - Proxy advisory firm Glass Lewis has recommended shareholders vote against the reelection of a member of Adani Enterprises' risk committee after an Australian court criticised unconscionable conduct in its Australian port business.

Adani Enterprises' Australian unit, Bravus Mining & Resources, has been involved in a controversial project to develop the Carmichael mine in Queensland to sell thermal coal into India, despite concerns about global warming.

Pine Labs, one of Asia’s leading merchant commerce platforms, has closed a $600 million fundraising round, with the entry of new investors Fidelity Management & Research Company, funds managed by BlackRock, Ishana, Tree Line, a fund advised by Neuberger Berman Investment Advisers LLC. IIFL AMC via its ‘Late-Stage Tech Fund’ and Kotak are also participating in this investment round, which is subject to approval from the Securities and Exchange Board of India (SEBI). With the current close, the valuation of the firm stands at $3 billion.

The Supreme Court on Monday expressed shock at the practice of police registering FIRs under Section 66A of the Information Technology Act, which was struck down by the top court in the 2015 judgment in the Shreya Singhal case.

After hearing a petition filed by the PUCL, seeking action against those persons who are allegedly involved in registering the FIRS despite the SC has earlier strike down Section 66 A of the Information Technology (IT) Act, the Supreme Court also issued a notice.

Defence Minister and local MP Rajnath Singh on Sunday said the 105-km-long Ring Road in Lucknow will soon be completed and that would ease movement of vehicular traffic arriving from other cities.

He said that he is in touch with officials so that the developmental works in Lucknow are not hampered.

Maharashtra on Sunday reported 9,336 fresh coronavirus positive cases and 123 fatalities, taking the tally of infections to 60,98,177 and the toll to 1,23,030, the state health department said.

A total of 3,378 patients were discharged during the day, raising the count of recoveries in Maharashtra to 58,48,693 so far, leaving the state with 1,23,225 active cases, the department said in a release.

The Supreme Court would examine on Monday the original records of the statements of Yoga guru Ramdev on the use of allopathic medicine during the COVID-19 pandemic following his plea to stay investigation and transfer the cases lodged against him in this connection to Delhi.

Multiple FIRs have been lodged against Ramdev in Patna and Raipur following complaints by the Indian Medical Association.

India saw a single-day rise of 39,796 new Covid infections, which took the tally of cases to 3,05,85,229, while the death toll climbed to 4,02,728 with 723 more fatalities, the lowest in around 88 days, according to Union Health Ministry data updated on Monday.

The active cases have further declined to 4,82,071 and comprise 1.58 per cent of the total infections, while the national Covid recovery rate has improved to 97.11 per cent, the data updated at 8 am showed.

Shares of Info Edge (India) rose 5 per cent to Rs 5,626 on the BSE in intra-day trade on Monday after media reports said Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) application of food delivery company Zomato. Info Edge held an 18.55 per cent stake in Zomato as of April 27, 201, according to Draft Red Herring Prospectus. The stock of Info Edge (India) has rallied 14 per cent in the past three trading days.

Shares of Panacea Biotec surged 9 per cent to Rs 411 on the BSE in the intra-day trade on Monday after the company announced that it has received a manufacturing license to produce Sputnik V vaccine at its Baddi (Himachal Pradesh) plant. The stock of one of the leading vaccine and pharmaceutical producers in India had hit a 52-week high of Rs 453.70 on May 28, 2021.

The company announces receipt of manufacturing license from Drugs Controller General (India) for Sputnik V vaccine against Covid-19 pursuant to its collaboration with Russian Direct Investment Fund (Russia's sovereign wealth fund). The license is a necessary condition for using Sputnik V produced by Panacea Biotec in India, Panacea Biotec said in a press release on Sunday, July 4, 2021.

Shares of HFCL (formerly known as Himachal Futuristic Communications Limited) continued their northward movement in Monday's trade as they surged 18 per cent to Rs 85.90 on the BSE in intra-day session on the back of heavy volumes. A combined 82.10 million shares had changed hands on the counter on the NSE and BSE till 10:59 am.

In the past month, the stock of the telecom cables manufacture has zoomed 86 per cent as compared to a 1.4 per cent rise in the S&P BSE Sensex.

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