Daily News Wrap | Droupadi Murmu takes oath as India's 15th President; Zomato stock cracks

Daily News Wrap | Droupadi Murmu takes oath as India's 15th President; Zomato stock cracks

Also, India reports 16,866 new COVID cases; Apple ships 1.2 mn iPhones in India in Q2; Fast-moving wildfire forces thousands to evacuate in California

National

Droupadi Murmu takes oath as India's 15th President

Droupadi Murmu on Monday took oath as the 15th President of India.
Chief Justice of India NV Ramana administered the oath of office of the President to her in the Central Hall of Parliament. The 64-year-old defeated opposition presidential candidate Yashwant Sinha to become the first tribal and the second woman to hold the top constitutional post.

On July 22, the NDA's presidential candidate Droupadi Murmu was officially declared as the 15th President of the country after the conclusion of the counting of votes.

Murmu received 2,824 votes with a value of 6,76,803 while her opponent Sinha secured 1,877 votes with a value of 3,80,177. A total of 4,809 MPs and MLAs cast their votes in the polling that took place on July 18.

India reports 16,866 new COVID cases

India reported 16,866 fresh COVID-19 cases in the past 24 hours. The country on Sunday had reported 20,279 new infections.

India's active caseload currently stands at 1,50,877. As per the ministry, out of the total of 2,02,17,66,615 crore COVID-19 vaccine doses administered in the country so far, 16,82,390 doses were administered under the Nationwide Vaccination Drive in the last 24 hours.

As part of the nationwide vaccination drive, the Government of India has been supporting the States and UTs by providing them with COVID Vaccines free of cost.

Business

Zomato stock cracks as lock in period ends

Zomato shares fell to their lowest levels on Monday since the IPO was launched at Rs 76 per share as the one year lock in period for investors considered insiders has ended.

Zomato was down 11.28 per cent at ₹47.60 in afternoon trade. It hit a 52 week low of ₹46. Its peak price in 52 weeks was ₹169.10.

The one year lock-in for promoters, shareholders, employees and others considered as insiders ended on Monday.

As per reports, Zomato's total paid up capital of the one year overhang is around 78% and market experts were expecting Zomato shares to sell-off this week.

Apple ships 1.2 mn iPhones in India in Q2

Continuing its growth in India driven by local manufacturing, Apple sold over 1.2 million iPhones in the country in the second quarter (Q2) this year, registering a massive 94% growth (year-on-year), the data showed on Monday.

According to data shared by market intelligence firm CyberMedia Research (CMR), the growth was driven by the stupendous sale of iPhone 12 and 13 models.

Nearly 1 million of the total shipped iPhones were 'Made in India' devices. CMR expects iPhones to garner 4% smartphone market share in India while iPads are set to log 20% market share in their respective category.

The macro-environment continues to be tough for the smartphone brands in India, owing to inflationary pressures, weakening rupee, and mellowed consumer demand.

Finance

Sensex snaps 6-day winning run

Snapping six straight days of the rally, the Indian stock market's benchmark Sensex closed 306 points lower dragged by heavy selling pressure in Reliance Industries after the company announced lower-than-expected quarterly earnings.

The 30 stock S&P BSE Sensex ended the day at 55,766.22 points, which is 306.01 points lower than its previous session's close. Earlier, the Sensex started the day in the red at 55,877.50 points and slumped to a low of 55,537.08 points in the morning trade.

The Sensex closed in the red for the first time in the past seven trading sessions.

The broader Nifty 50 of the National Stock Exchange slumped to 16,631.00 points, which is 88.45 points when compared with its previous session's close at 16,719.45 points. The Nifty closed in the red after six consecutive sessions of gains. The Nifty 50 had gained 114.20 points or 0.69% on Friday.

International

Fast-moving wildfire forces thousands to evacuate in California

Thousands of residents have been forced to evacuate after a fast-moving wildfire exploded to over 14,200 acres (57.5 square km) near the Yosemite National Park in California.

The wildfire, dubbed the Oak Fire, has destroyed at least 10 structures, damaged another five. As per the information by the California Department of Forestry and Fire Protection (Cal Fire), 0% fire was contained as of Sunday.

A further 3,271 structures, both homes and businesses, are presently under threat, they added. Driven by hot, dry weather and drought conditions, the blaze erupted on July 22 in Mariposa County.

It has rapidly grown to be one of the largest wildfires in the state so far this year.

Technology

OnePlus Nord Buds CE TWS earphones to be available on August 1

Days before the OnePlus 10T announcement, OnePlus will release the CE version of the Nord Buds TWS earbuds, which were first introduced by the company in April.

The Nord Buds CE's specifications haven't been released by OnePlus yet. The Nord Buds CE won't have the silicone tips that came with the original Nord Buds, according to photographs posted by the firm on its official Indian website.

The Nord Buds CE is expected to cost cheaper than the regular Nord Buds, which are presently available in India for ₹2,599 ($33/€32). However, OnePlus has teased that the Nord Buds CE will cost ₹2,599 in India.

Sports

Half-centuries from batters help Team India secure thrilling win over WI in second ODI

Half-centuries from Shreyas Iyer, Sanju Samson and Axar Patel helped Team India win the second ODI of the three-match series against West Indies by two wickets here at Queens Park Oval stadium in Port of Spain on Sunday.

India has now taken a winning 2-0 lead in the series. Struggling at 79/3, a 99-run stand between Iyer (63) and Samson (54) provided stability to their innings. In the end contributions from Deepak Hooda (33) and Axar Patel (64*) proved to be extremely vital in taking the visitors to a win. West Indies lost control of the match despite sending back the top order in the early stages of the match and despite posting a huge total on the board themselves.

Brief Scores: West Indies: 311/6 (Shai Hope 115, Nicholas Pooran 74, Shardul Thakur 3/54) lost to India: 312/8 in 49.4 overs (Axar Patel 64*, Shreyas Iyer 63, Alzarri Joseph 2/46) by two wickets.

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