India saw a single-day rise of 12,428 new COVID-19 cases, the lowest in 238 days, while the active cases declined to 1,63,816, according to the Union Health Ministry data updated on Tuesday.

With the fresh cases, the total tally climbed to 3,42,02,202, while the death toll climbed to 4,55,068 with 356 fresh fatalities, according to the data updated at 8 am.

Shares of H G Infra Engineering surged 15 per cent to Rs 819.55 on the BSE in Tuesday’s intraday trade after the company received Letter of Award (LoA) from National Highways Authority of India (NHAI) for the projects worth of Rs 2,297 crore.

The stock of construction & engineering company surpassed its previous high of Rs 784.30 recorded on October 18, 2021. At 12:46 pm; it was trading 12 per cent higher at Rs 795.60, as compared to 0.09 per cent fall in the S&P BSE Sensex.

Shares of Bank of Baroda (BoB) and Punjab National Bank (PNB) hit fresh 52-week highs, regaining Rs 50,000 market capitalisation (m-cap) on Tuesday on the back of a stable outlook.

Individually, BoB rallied 6.5 per cent to Rs 102.85 on the back of heavy volumes. The stock of state-owned lender has outperformed the market by surging 35 per cent in the past one month, as against the S&P BSE Sensex, which has gained 2.5 per cent during the same period.

Ten grams of 24-carat gold was on Tuesday selling at Rs 47,760, up Rs 100 from yesterday’s trading price. Silver was at Rs 66,000 per kg, up Rs 400 from yesterday’s trading price, according to the Good Returns website.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Shares of Tech Mahindra hit a new high at Rs 1,629.40, and have rallied 7 per cent on the BSE in Tuesday’s intra-day trade after information technology (IT) firm reported a good set of numbers for the quarter ended September 2021 (Q2FY22).

The stock surpassed its previous high of Rs 1,575.95 touched on October 20, 2021. In the past three months, the stock has outperformed the market by surging 45 per cent, as compared to 16 per cent rise in the S&P BSE Sensex.

Apollo Tyres Ltd is planning to become a $5 billion company by 2026 on the back of Apollo and Vredestein's dual brand strategy, an improving economy, higher exports and a sharp recovery in India's automobile sector. The next five years will be about consolidation and reaping the benefits of investments made in technology, capacity and brands over the last five years, said Satish Sharma, president-Asia Pacific, Middle East and Africa.

Tyre manufacturers in India are expected to be the key beneficiaries of an upturn in the world's fifth largest automobile market.

PayPal Inc said it is not pursuing an acquisition of Pinterest Inc at this time, after several media reported last week that it was in talks to buy the digital pinboard site for as much as $45 billion.

The latest development, which dashed the prospect of Pinterest getting access to PayPal's massive user base, sent the social media platform's share price down over 12%. Reuters and other media reported on the deal talks on Friday, when sources said that PayPal had offered $70 per share, mostly in stock, for Pinterest.

Subhash Chandra is no stranger to corporate battles. In 1998, when his then partner Rupert Murdoch attempted to buy out their thriving five-year-old Indian television venture, the entrepreneur deftly fended off the billionaire to wrest back control of what became Zee Entertainment Enterprises Ltd.
More than two decades later, India’s largest publicly traded entertainment network is back at the center of a complicated boardroom feud: Chandra and his supporters versus Atlanta-based Invesco Developing Markets Fund, Zee’s biggest shareholder with an 18% stake.

In a closely watched contest for two new IPL T-20 teams, RP-Sanjiv Goenka group and private equity player Irelia (part of CVC Capital Partners) have emerged winners. The Board of Control for Cricket in India (BCCI) announced the new franchises on Monday evening following an open auction in Dubai. There were nine bidders including two from overseas.

At Rs 7,090 crore, RPSG’s winning bid for Lucknow made it the most expensive team in the IPL tournament. Irelia Company Pte Ltd got the second franchise for Ahmedabad at Rs 5,625 crore. The new teams are for the tournament to be played next year.

SpiceJet will launch 28 new domestic flights across the country from October 31 onwards, the airline said Monday.

It will launch multiple new non-stop flights connecting the tourist hotspots of Jaipur, Jaisalmer, Jodhpur and Udaipur in Rajasthan with key metros and cities as part of its new winter schedule, SpiceJet said in a statement.

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