With Tata Sons calling shareholder EGMs in five Tata Group companies to evict Mistry from the boards and Chairmanships, Mistry pre-emptively resigned  from all the Tata boards and hinted in a letter to shareholders that he would continue battling Tata Sons - in court. Tata Sons said in response that the three EGMs at Tata Steel, Tata Chemicals and Tata Power are likely to go ahead as Tata Sons is also seeking to oust independent director Nusli Wadia, who had backed Mistry, from those group company boards. Tata stocks have moved up after his resignation, likely due to investors hoping that the PR damage inflicted by the public accusations and counter-accusations is over. 

The Employees’ Provident Fund Organisation (EPFO) has lowered the interest rate on provident fund deposits to 8.65% for 2016-17, slightly lower than the 8.80% it paid in the previous year. The Opposition reacted to the rate cut with a barrage of criticism, saying that the move was "an attack on EPF... and hurts the common man".

 Stock in spotlight: Prestige Estates, which is gaining on the back of strong Q2 results, and is among the top gainers. 

Photo of the day: Monkeys play on a motorbike, and one checks out its reflection in the mirror in Jaipur, India. Dominique Faget/Getty/AFP