Shares of GE Power India hit a 52-week high of Rs 181 as they surged 13 per cent on the BSE in Wednesday’s intra-day trade, in an otherwise a weak market, after the company received a Letter of Intent (LoI) from Gujarat State Electricity Corporation for contract worth of Rs 444 crore.

In an exchange filing, GE Power India said the company has received contract for design, engineering, manufacture, supply, shop testing, packing and forwarding, installation, commissioning and PG testing of flue gas desulphurisation (FGD) system on engineering procurement & construction (EPC) basis.

Manipal Group Chairman Ranjan Pai is in early discussions to invest in Byju’s-owned Aakash Educational Services Limited (AESL).

According to sources in the know, Byju’s founder and Chief Executive Officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore).

The Enforcement Directorate (ED) on Tuesday raided the residence of Hero MotoCorp Chairman and Managing Director Pawan Munjal after taking cognisance of a Directorate of Revenue Intelligence (DRI) case.

According to a CNBC report, a case has been registered against Munjal under the Prevention of Money Laundering Act (PMLA), 2002.

The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1.
A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday.

In a major relief for many citizens, the state-backed oil companies have slashed the prices of commercial LPG gas cylinders, with the rate of the 19 kg gas cylinder dropped by Rs 99.75. However, the prices of domestic LPG gas cylinders remain the same.

The gas cylinder price drop has been announced by oil and gas companies on Tuesday morning, with the revised prices of the commercial LPG gas cylinders being implemented from today, August 1.

Fifteen workers were killed and three injured as a crane fell on a bridge slab during construction of the third phase of Samruddhi Expressway in Maharashtra's Thane district on Tuesday, an official said. Five persons are feared trapped and efforts are on to rescue them, an NDRF official said. The injured have been shifted to a nearby hospital, he added.

It was a special-purpose mobile gantry crane used in bridge construction and to install precast box girders in highway construction projects.

Gujarat Chief Minister Bhupendra Patel on Sunday said his government is open to the idea of making parental consent mandatory in love marriages, but only "within the ambit of the Constitution", according to a report by The Indian Express (IE). Patel made the comments at a felicitation ceremony for students at Nugar village in Mehsana district.

The chief minister said that state health minister Rushikeshbhai Patel suggested to him that the Gujarat government should take a re-look at the cases of the elopement of girls and that a study should be carried out so that something can be done to ensure parental consent in love marriages.

Tamil Nadu (TN) signed an agreement on Monday with Taiwan’s Foxconn, the world’s largest electronics manufacturer, to build a mobile component manufacturing facility in the Kancheepuram district at a proposed investment of Rs 1,600 crore, likely employing 6,000 people.

The global major is also in talks with TN regarding the electric vehicle (EV) segment, as part of its strategy to establish an EV manufacturing unit in India this year.

The National Institutes of Health is beginning a handful of studies to test possible treatments for long COVID, an anxiously awaited step in U.S. efforts against the mysterious condition that afflicts millions.

Monday's announcement from the NIH's USD 1.15 billion RECOVER project comes amid frustration from patients who've struggled for months or even years with sometimes-disabling health problems with no proven treatments and only a smattering of rigorous studies to test potential ones.

More than 6.5 crore income tax returns for 2022-23 fiscal have been filed so far, with 36.91 lakh ITRs being submitted on Monday until 1800 hrs, which is the last day for filing of returns by individuals and entities that are not required to get their accounts audited.

The e-filing portal has witnessed more than 1.78 crore successful logins till 6 pm, the I-T department said.

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