SUNAINA

Ola Electric, backed by SoftBank, is set for a $740 million IPO this week, marking India’s first electric vehicle maker’s public offering. Fidelity, Nomura, and Norges Bank are among the major investors, with Fidelity bidding $75 million and the others $100 million each. Indian mutual funds like SBI, HDFC, UTI, and Nippon India will also … Read more

Bharti Airtel announced on Monday it has started reallocating its mid-band spectrum to support growing 5G traffic. This involves re-farming spectrum in the 1800, 2100, and 2300 MHz bands. The company has tested 5G capabilities in Rewari, Chennai, and Bhubaneswar, achieving positive results. This move will enable standalone and non-standalone 5G modes, enhancing network performance … Read more

Gensol Engineering announced it has won a Rs 463 crore order to establish a solar plant at Khavda RE Power Park in the Rann of Kutch, Gujarat. The project includes engineering, design, procurement, erection, testing, and commissioning of the facility with a fixed tilt module mounting structure. Shilpa Urhekar, CEO of Solar EPC (India), emphasized … Read more

Paresh Mohanlal Parekh and Vijay Mohanlal Parekh sold a 4.2% stake in Jyoti CNC Automation for Rs 1,079 crore through open market transactions. They divested 96.05 lakh shares at prices between Rs 1,123-1,125.15 each. Buyers included Axis Mutual Fund, Morgan Stanley, Societe Generale, and others. Post-sale, the shares dropped 1.35% on the NSE to Rs … Read more

The Directorate General of Foreign Trade (DGFT) announced that new norms for gold, silver, and platinum wastage in jewellery exports are in abeyance until August 31, 2024. This decision follows a request from the Gems and Jewellery Export Promotion Council (GJEPC) due to industry concerns. The May 27 notice tightening these norms is paused for … Read more

The Securities and Exchange Board of India (SEBI) proposed revisions to the definitions of ‘connected person’ and ‘relative’ under insider trading regulations. The aim is to avoid increased compliance burdens by retaining the term ‘immediate relative’ solely for disclosures and conduct codes. The proposed changes include adding relatives of connected persons and those influencing connected … Read more

Tata Steel announced acquiring 557 crore equity shares in its Singapore-based arm, T Steel Holdings Pte Ltd (TSHP), for USD 875 million (Rs 7,324.41 crore). This follows the board’s approval in May to infuse funds into TSHP. The shares have a face value of USD 0.157 each. Post-acquisition, TSHP remains a wholly-owned subsidiary of Tata … Read more

On July 29, Reserve Bank of India (RBI) report stated that India’s digital economy will grow from 10% to 20% of GDP by 2026. RBI Governor Shaktikanta Das emphasized that digitalization is revolutionizing banking and financial services. Innovations like UPI, India Stack, and digital lending are driving this growth. India has the world’s lowest data … Read more

On Monday, July 29, the Indian stock market benchmarks, Nifty 50 and Sensex, reached new highs but ended flat. The Nifty 50 hit 24,999.75 and the Sensex reached 81,908.43 during the day. At the close, the Nifty 50 was up 1 point at 24,836.10, and the Sensex was up 23 points at 81,355.84. The market … Read more