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Domestic benchmark index NSE Nifty ended 662.11 points down at 24055.6, while the BSE Sensex closed 2222.55 points down at 78759.4.

Shares of Alkem Laboratories Ltd.(up 0.35 per cent) ended the day as top gainers in the pack.

LIC on Monday said its office in Bangladesh will remain closed till August 7. Over 100 people were killed in the last two days in fierce clashes between security forces personnel and anti-government protesters in different parts of Bangladesh, according to reports from Dhaka. In a regulatory filing, LIC said, «The office of LIC of Bangladesh Ltd will remain closed during the period from August 05, 2024 to August 07, 2024, due to the prevailing socio-political situation in Bangladesh.» The government of Bangladesh has declared a curfew for 3 days from August 05, 2024, to August 07, 2024, LIC said.

Tata Power Co. Ltd Monday said it has received a letter of intent (LoI) from PFC Consulting, the wholly-owned subsidiary of state-run Power Finance Corporation, for acquiring a project specific special-purpose vehicle. In a regulatory filing, the Tata group company said the LoI is for acquiring Paradeep Transmission Ltd in Odisha. «The SPV would be developed on a build, own, operate, and transfer basis, to provide transmission service for 35 years from the scheduled date of commercial operation,» the company said. It did not disclose financial details.

Neueon Towers Ltd.(up 5.01%), Power and Instrumentation(Gujarat)Ltd.(up 1.99%), Energy Development Company Ltd.(up 0.94%) and Indowind Energy Ltd.(up 0.68%) stood among the top gainers.

SoftBank Group Corp. has cut $2.6 billion off the fortune of its founder Masayoshi Son, as the tech investor is buffeted by the Bank of Japan’s earlier-than-expected interest-rate hike. Shares were down 8% Friday in Tokyo. Over two days, the technology conglomerate is down roughly 14%. Even after the recent plunge, Son is up about $2.7 billion from the $11.3 billion he began the year with, according to the Bloomberg Billionaires Index.

Ministry of Ports, Shipping and Waterways (MoPSW) is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures, a senior government official has said. Ports, Shipping and Waterways Secretary T K Ramachandran further said with the new policy, India will endeavour to be among the top 10 shipbuilding nations by 2030 and the top five by 2047, from 22nd in the world at present. «Yes, this ministry is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures,» he told PTI. Ramachandran also said global cruise major MSC Cruises, based out of Geneva, has expressed willingness to deploy their ships for domestic itinerary.

The quantum of loss in FY22 was Rs 80.33 crore, it was Rs 50.10 crore in FY21 and Rs 44.22 crore in FY20. Chaudhary further said to help customers recover the loss on account of fraudulent transactions, the RBI has issued instructions to banks on limiting the liability of customers in cases of unauthorised electronic banking transactions.

Federal Bank Ltd. traded at Rs 192.9 on BSE at 12:33PM (IST) on Monday, down 2.4 per cent from previous close. The stock quoted a 52-week low price of Rs 130.55 and a high of Rs 205.0.

Waqf Board Act, Chief Priest of Shri Ram Janmabhoomi Temple, Ayodhya, Acharya Satyendra Das Ji Maharaj welcomed the proposed amendments by the government. He said, «This is a good step; the female has no share in the Waqf board's property as no female member is a part of the Waqf board, now females will have their share in the properties of Waqf board. He said, „How is a property owned by the Waqf board? On what basis did the Waqf board own this property, and what is the monetary value of the Waqf board's property? The Waqf board properties will be reviewed. The land under the Waqf board in different regions will be checked.“

<a href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded at Rs 4880.0 on BSE at 12:27PM (IST) on Monday, down 2.21 per cent from previous close. The scrip quoted a 52-week low price of Rs 3300.0 and a high of Rs 5011.0.

Pidilite Industries Ltd. dropped 0.4 per cent to Rs 3121.0 at 10:30AM (IST) in Monday's trade. The counter hit a high of Rs 3136.0 and low of Rs 3071.35 so far during the session. The stock had closed at Rs 3133.7 in the previous session. The counter had a total traded volume of 10:30AM shares so far with a turnover of Rs 1.03 crore on BSE. The stock traded at a price-to-earnings multiple of 90.33 and a price-to-book ratio of 18.24.

At least 11 firms, including Indus Towers Ltd., have or are set to approve share buybacks shortly after the new regime was proposed in the budget on July 23. This is a jump from the average of about four transactions per month in 2023, data from primeinfobase.com show.

Army troops opened fire after noticing the movement of two groups of infiltrators along the Line of Control (LoC) in Akhnoor and Sunderbani sectors of Jammu and Kashmir in the early hours of Monday, officials said. Though there was no exchange of fire, a massive search operation is underway in both areas to ensure that there is no infiltration from across the border, they said. Alert Army troops fired after picking up suspicious movement of three to four infiltrators in a forward area in the Battal sector of Akhnoor on the outskirts of Jammu around 1.30 am, the officials said. The area was illuminated with flares and put under surveillance through drones with reinforcements mobilised to lay a tight cordon. A search operation was launched at first light, they said.

new cast members Robert Joy and Samantha Brown joining the series.

Elon Musk said on Sunday the Federal Reserve needs to cut interest rates and that it was foolish for the U.S. central bank not to have done so already. Musk's comment, which was made in response to a post on the social media site X, followed a run of weak data last week that has sparked worries the Fed may have left interest rates elevated for too long, resulting in damage to the economy.

Bureaucracy is keeping a close eye on the government's message of continuity. Will it be reflected in soon-to-come ACC (Appointments Committee of the Cabinet) orders? While Union home secretary Ajay Kumar Bhalla's extended term will end this month, the term of Cabinet Secretary Rajiv Gauba, who is also on extension, ends on August 30. Principal secretary to the prime minister, PK Mishra, continues in office. Also, several secretary level appointments are likely to be made this month. Bureaucracy is keeping a close eye on the government's message of continuity. Will it be reflected in soon-to-come ACC (Appointments Committee of the Cabinet) orders? While Union home secretary Ajay Kumar Bhalla's extended term will end this month, the term of Cabinet Secretary Rajiv Gauba, who is also on extension, ends on August 30. Principal secretary to the prime minister, PK Mishra, continues in office. Also, several secretary level appointments are likely to be made this month. Bureaucracy is keeping a close eye on the government's message of continuity. Will it be reflected in soon-to-come ACC (Appointments Committee of the Cabinet) orders? While Union home secretary Ajay Kumar Bhalla's extended term will end this month, the term of Cabinet Secretary Rajiv Gauba, who is also on extension, ends on August 30. Principal secretary to the prime minister, PK Mishra, continues in office. Also, several secretary level appointments are likely to be made this month.

parliamentary panels, including the Public Accounts Committee (PAC), have started taking shape, mostly by consensus as against elections witnessed during the previous Lok Sabha. Besides the PAC, which examines government expenditure, the Committee on Public Undertakings, the Committee on Estimates, the Committee on Welfare of Scheduled Castes and Scheduled Tribes, the Joint Committee on Office of Profit and the Committee on Welfare of Other Backward Classes have been constituted without an election. Lok Sabha Speaker Om Birla is expected to nominate the chairpersons of the panels soon, parliamentary officials said. Parliamentary Affairs Minister Kiren Rijiju and his team of floor managers worked to ensure that appointments to the committees take place by consensus.

IDBI Bank is selling its Rs 6,151 crore legacy stressed asset portfolio to Omkara Asset Reconstruction Company (ARC) in a move that will help the government fetch an improved valuation for the proposed stake sale in the lender, people with knowledge of the matter told ET. At inter-se bidding held on Saturday (August 3), Omkara ARC gave the highest offer of Rs 652 crore, outbidding government-promoted National Asset Reconstruction Company Ltd (NARCL). For IDBI Bank, the distressed portfolio sale equates to a recovery of 10.5%, which will be reflected in its second-quarter earnings. “The sale of the stressed portfolio will have a significant positive impact on IDBI Bank’s valuation since potential bidders were wary of acquiring a bank with legacy loans, which the bank itself failed to resolve for over two decades,” said an advisor involved in the transaction who did not want to be named.