A sudden cloud burst over Lhonak Lake in North Sikkim resulting in a flash flood in the Teesta River in Lachen Valley. The situation was exacerbated by the release of water from the Chungthang dam, leading to 23 army personnel being washed away, according to defence officials as reported by news agency PTI.

The floods began around 1:30 a.m. on Wednesday.

Shares of Nestle India surged 4 per cent to Rs 23,333.65 on the BSE in Wednesday’s intra-day trade in an otherwise weak market after the company announced that the board will meet on October 19 to consider a stock split proposal. The board will also consider declaration of second interim dividend for the year 2023, if any.

The stock of packaged foods company was trading close to its 52-week high of Rs 23,390 hit on July 17, 2023. In comparison, the S&P BSE Sensex was down 0.72 per cent at 65,042 at 09:22 AM.

The price of 24-carat gold declined Rs 660 during Wednesday's early trade, with ten grams of the precious metal selling at Rs 57,380, according to the GoodReturns website. The price of silver fell sharply by Rs 2,000 to Rs 71,000 per kilogram.

The price of 22-carat gold fell Rs 600 to Rs 52,600.

Vedanta Ltd will complete the sale of its steel assets by the end of this financial year, its chairman Anil Agarwal said in an interview on Tuesday. The company began the review of its steel and steel raw material business - formed through the acquisition of ESL Steel in 2018 for Rs 5,230 crore - in June, looking to sell the company to focus on its core mining businesses.

Last week, Vedanta announced its board had approved a pure-play, asset-owner business model that would ultimately result in six separate listed firms.

In a sign of further escalation of tensions between New Delhi and Ottawa, India has told Canada to withdraw 41 of its diplomats from the country by October 10, The Financial Times (FT) reported on Tuesday.

India has told Canada that if any of these diplomats stay after October 10, their diplomatic immunity will be revoked. Earlier, New Delhi had said it wanted "parity" in the number and grade of diplomats between India and Canada. Notably, Ottawa has many more diplomats in New Delhi than India has in Canada.

Prime Minister Narendra Modi, addressing a rally in Chittorgarh, criticised Rajasthan's Ashok Gehlot-led Congress government, highlighting concerns about corruption and women's safety. He expressed pain over the high crime rates in the state, particularly crimes against women, riots, and atrocities against Dalits and backward classes. The Prime Minister stated that the Congress has made these issues a tradition in Rajasthan. He also added that they would take action against the "corruption" of the Congress-led state government once the Bharatiya Janata Party (BJP) wins the upcoming state assembly elections in Rajasthan.

Shares of Anil Agarwal-promoted Vedanta were up 4 per cent at Rs 232.25 on Tuesday's intra-day trade after the company on Friday after market hours announced its plan to demerge its existing business verticals into six independent 'pure play' companies. This move aims to unlock stakeholder value, attract strategic investment, improve competencies, and ensure transparency. In the past two trading days, the stock rallied 12 per cent.

Meanwhile, the stock of Vedanta had hit a 52-week low of Rs 207.85 on Thursday, September 28. Despite a two-day gain, Vedanta has underperformed the market by falling 28 per cent, as compared to 7.6 per cent rise in the S&P BSE Sensex.

India's Consul General in Ho Chi Minh City, Vietnam, Madan Mohan Sethi highlighted the cordial and friendly relationship between India and Vietnam, emphasizing their historical ties through civilization that spans over 2,000 years.

"More than 400 Indian companies, small and big have invested in Vietnam for a cumulative value of more than $ 1 billion," he said.

JSW Infrastructure made a strong market debut Tuesday with its shares listing at Rs 143 on the NSE, a 20 per cent premium over the issue price of Rs 119.

Post listing, the stock moved higher to Rs 157, quoting 32 per cent above its issue price on the NSE. A combined 63 million equity shares changed hands on the NSE and BSE, till 10:03 am.

The malaria vaccine developed by the University of Oxford and the Serum Institute of India, leveraging Novavax’s adjuvant, has now been recommended for use by the World Health Organization’s Strategic Advisory Group of Experts and the Malaria Policy Advisory Group, paving the way for a global roll-out soon.

Around half a million people die from malaria every year across the world.

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