Indian markets weakened further on Tuesday led by global equities on renewed concern over the pandemic with the rapid spread of the delta variant. Equities fell modestly in Japan and China —where banks kept the benchmark loan rate steady—and were little changed in Hong Kong. Earlier, US markets closed over 2% lower.
SC strikes down 97th constitutional amendment provisions relating to cooperative societies
The apex court upheld a 2013 Gujarat high court judgment that struck down the amendment since it was passed without ratification by one half of state legislatures as mandated by Article 368(2) of the Constitution, LiveLaw reported.
DCM Shriram trades lower
The company’s stock was trading 5.15% lower at 11:34 am. The stock had rallied 18% on the back of volumes in intra day trade on Monday. The sugar company will be posting its Q1 result today.
All sectors in red
SC terms as “wholly uncalled for” relaxations granted by Kerala Govt for Bakrid in areas having highest covid-19 positivity rate
Hemisphere Properties, Oberoi Realty top drags
Lok Sabha Adjourned to meet again at 02:00 P.M.
HDFC twins, ICICI Bank top drags
HDFC Life increases mortality buffer to ₹700 cr
HDFC Life has increased its covid related mortality buffer to ₹700 crore. The insurer expects more claims in the next two months. The life insurer has not factored in a covid third wave in this buffer, HDFC Life Insurance Co. managing director and chief executive Vibha Padalkar said.
World Bank, GMR, L&T, TATA have shown interest in Sonnagar-Gomoh section: Indain Railway
Organisations like World Bank, Kotak Mahindra Bank Ltd, KPMG, L&T, GMR and TATA Projects are some big ticket entities that have shown interest in the Eastern Dedicated Freight Corridor’s Sonnagar-Gomoh section which is to be built through the Public-Private Partnership (PPP) mode, officials said on Monday. The section is estimated to be built at a cost of ₹9,000 crore and expected to serve major power houses, industrial corridors and MMLPs in Haryana, Punjab, Delhi and Uttar Pradesh. The Sonnagar-Dankuni section (536 km) has been approved by the Railways Ministry to develop through PPP and it forms part of the 1,875 km-long Eastern Dedicated Freight Corridor (EDFC).
Radico Khaitan gains
Radico Khaitan’s stock was trading at ₹817.15 apiece, down 1.15% at 10:29 am. On 14 July, the company allotted 80,000 shares of ₹2 each to the eligible
staffers under the announced its employee stock option scheme.
Adani Enterprises trades lower
The company’s stock was trading at ₹1,355.65 apiece, down 1.80%. Adani group has said that it has not received any communication or information requests recently from the Securities and Exchange Board of India (Sebi) recently and the Directorate of Revenue Intelligence (DRI) show-cause notice was issued five years back. The DRI and Sebi are investigating some entities of Adani Group for non-compliance of rules, MoS Finance…