Nepali Prime Minister KP Sharma Oli lost a confidence vote in parliament on Monday (May 10), the speaker said, pitching the country into political turmoil at a time when it is battling a major second wave of coronavirus infections.

Oli's moderate communist party split from former Maoist rebels in March after differences cropped up over its power-sharing deal, wiping out their governing majority. Political parties will now try to cobble together a new ruling coalition.

Drug major Cipla on Monday said it has inked a pact with US-based Eli Lilly and Company to manufacture and produce baricitinib in the country for the treatment of COVID-19.

The Mumbai-based company said it has signed a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly for baricitinib.

Shares of Hindustan Copper (HCL) hit an over eight-year high and were locked in the upper circuit of 10 per cent at Rs 189.20 on the BSE in Monday's session on expectations of improved demand outlook. The stock of the state-owned copper company has rallied 25 per cent in the past three trading days. It was quoting at its highest level since November 2012.

Till 10:28 am, a combined 4.84 million equity shares had changed hands on the counter and there were pending buy orders for 1.6 million shares on the NSE and BSE.

Shares of pharmaceutical companies were on a roll at the bourses on Monday, with the Nifty Pharma index hitting an all-time high of 14,172, after rising 3 per cent on the National Stock Exchange (NSE) on the back of strong rally in stocks like Sun Pharmaceutical Industries, Torrent Pharma, Alkem Laboratories, Divis Laboratories, Lupin and Dr Reddys Laboratories. The pharma index surpassed its previous high of 14,020.70, touched in intra-day trade on April 7, 2015.

Bharat Biotech has commenced direct supply of its COVID-19 vaccine 'Covaxin' to 14 states, including Delhi and Maharashtra, with effect from May 1, according to the company's Joint Managing Director Suchitra Ella.

The Hyderabad-based firm has started supplying its COVID-19 treatment vaccine to the states based on the allocations received by the central government.

Punjab Chief Minister Amarinder Singh on Sunday urged Prime Minister Narendra Modi to increase the total quota of oxygen to 300 metric tonnes (MT), and ensure urgent supplies of vaccine for the state, which has been facing shortage on both counts.The Chief Minister raised these issues when PM Modi called him up to discuss the state's COVID-19 situation and the measures being taken to tackle the crisis.The Prime Minister assured of all possible help, Singh said later, adding he hoped the Centre would take immediate steps to supplement the oxygen supplies, and ensure that vaccine doses were sent to Punjab on priority to help the state effective manage the situation triggered by the second wave of the pandemic.

After recording over four lakh fresh cases for four consecutive days, India witnessed a single-day rise of 3,66,161 COVID-19 cases on Monday, which pushed its tally to 2,26,62,575, according to the health ministry.

The death toll due to the viral disease climbed to 2,46,116 with 3,754 more people succumbing to it, the ministry's data updated at 8 am showed.

Amazon, which has been under pressure from shoppers, brands and lawmakers to crack down on counterfeits on its site, said Monday that it blocked more than 10 billion suspected phony listings last year before any of their offerings could be sold.

The numbers were released in Amazon's first report on its anti-counterfeiting efforts since it announced new tools and technologies in 2019. The number of blocked phony listings last year was up about 67 per cent from the year before.

After stablising the liabilities (deposits) side of business, private lender IDFC First Bank intends to become aggressive in home loans to make it 40 per cent of total loan portfolio in long run.

The bank has liabilities with a low cost Current Account and Savings Account (CASA) share of over 51 per cent and is in a position to effectively participate in the prime home loan market. It will also book prime home loans to top corporates now.

In a shocking development, a document has been found in which Chinese scientists and health officials can be found discussing a new era of genetic weapons that could be artificially manipulated into an emerging human disease virus, then weaponized and unleashed. According to Weekend Australian, the document was written in 2015, five years before the coronavirus pandemic.

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