Shares of Adani group companies have rallied up to 12 per cent on the BSE in Wednesday's intra-day trade as the Supreme Court is expected to announce its verdict in the Adani-Hindenburg case later today.

According to Business Standard report, the Supreme Court on Wednesday will pronounce its judgement on a batch of petitions seeking a court-monitored investigation into the allegations made by US-based firm Hindenburg Research against the Adani group of companies regarding violations of the stock market.

Prime Minister Narendra Modi on Tuesday laid the foundation stone for development projects worth more than Rs 20,000 crore in Tiruchirappalli, Tamil Nadu, marking the start of work in rail connectivity, roads, oil and gas, and shipping.

The projects will strengthen Tamil Nadu’s progress, create employment for thousands and boost travel, he said as he congratulated the people of the state. Modi praised Vijayakanth, the movie actor and leader of Desiya Murpokku Dravida Kazhagam (DMDK) party who died on December 28, as a "Captain" in cinema and politics.

The Reserve Bank of India (RBI) on Tuesday proposed to tighten norms for dividend declaration by banks as it lowered the net non-performing asset (NPA) ratio for a lender to be eligible for paying dividends.

In a draft circular released on Tuesday, the RBI said it would not entertain any ad hoc dispensation on the declaration of dividends. Feedback on the draft circular can be submitted by January 31. The RBI proposed the new norms for declaration of dividend for FY25 and onwards.

All India Majlis-E-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi has appealed to the Muslim youth to be watchful of the activities done by the Centre and said that mosques across the country should remain inhabited.

Days before the 'Pran Pratishtha' (consecration) of the Ram temple in Uttar Pradesh's Ayodhya on January 22, Asaduddin Owaisi, with reference to Babri Masjid, said the place where the holy Quran was recited for the past 500 years is not in their hands anymore, news agency ANI reported.

India on Tuesday recorded a slight dip in the single-day rise in Covid-19 cases with 573 fresh infections compared to 636 the previous day, the Union Health Ministry said. The country reported two more deaths due to the virus.

The active caseload rose to 4,565 in the past 24 hours. The two fatalities -- each from Haryana and Karnataka -- have pushed the death toll to 533,364, the health ministry data added.

Shares of JBM Auto surged 6 per cent to a new high of Rs 1,718.55 on the BSE in Tuesday’s weak intra-day trade.

The stock of the automobiles firm was trading higher for the third straight day, surging 23 per cent during this time after the company’s management said it aims to deliver 2000 e-buses in the financial year 2023-24 (FY24).

Indian Railways is working on launching a super app that will provide services that are currently given over a dozen mobile apps, including ticketing and train tracking, the Economic Times (ET) reported on Tuesday. This is being done to reduce the number of downloads needed to get the complete bouquet of railway services in the country.

The app development may run over three years and is likely to cost the exchequer Rs 90 crore, the report added. It will be developed by CRIS, the railway ministry's arm that handles IT systems.

Shares of Lemon Tree Hotels surged 9 per cent on the BSE to hit a record high of Rs 129.30 in Tuesday’s intra-day trade amid heavy volumes driven by expectations of strong earnings.

In comparison, the S&P BSE Sensex was down 0.43 per cent at 71,958 at 09:56 AM.

State-backed insurer Life Insurance Corporation of India (LIC) has received a goods and services tax (GST) notice of Rs 806.3 crore from the Deputy Commissioner of State Tax, Mumbai. In a regulatory filing, the company said that it would file an appeal against the order.

The total includes GST worth Rs 365.02 crore, penalty of Rs 404.7 crore and interest of Rs 36.5 crore.

Following the Reserve Bank of India (RBI) tightening norms for alternative investment fund (AIF) investments by regulated entities (REs), Indiabulls Housing Finance (IBHFL), a RE, may have set aside about Rs 1,000 crore as provision for a likely impact of the new rules.

IBHFL’s investments in such subordinated units of AIF schemes at a consolidated level are about Rs 1,000 crore.

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