Tesla’s India Move, Reliance’s Record Valuation & Licious’ IPO Bet!
Your daily dose of business news
🗞️ Reliance & TCS Surpass Saudi Arabia's GDP in Valuation
Reliance Industries and TCS have topped Hurun’s list of India’s most valuable companies, boasting a combined valuation exceeding Saudi Arabia’s GDP.
Expert Opinion: "This milestone underscores the robust growth and global competitiveness of Indian conglomerates." – Arvind Bansal, Market Analyst
🗞️ Tesla Initiates Recruitment in India, Signaling EV Market Entry
Tesla has commenced hiring in India, indicating plans to penetrate the country's burgeoning electric vehicle market.
Expert Opinion: "Tesla's entry is poised to revolutionize India's EV landscape, fostering innovation and consumer interest." – Meera Shah, Auto Industry Expert
🗞️ India's Q3 GDP Projected to Grow by 6.4%: ICRA
ICRA forecasts a 6.4% GDP growth for India in Q3, driven by increased government expenditure.
Expert Opinion: "Enhanced public spending is catalyzing economic momentum, reflecting resilience amid global challenges." – Vikram Kapoor, Economist
🗞️ Licious Targets $2 Billion IPO
Temasek-backed Licious plans a $2 billion Initial Public Offering, marking a significant stride in India's food-tech sector.
Expert Opinion: "This IPO could pave the way for other startups, highlighting investor confidence in the food-tech industry." – Nidhi Mehta, Startup Analyst
🗞️ Sunil Mittal's Firm Sells $976 Million Airtel Stake
Sunil Mittal’s company has divested a substantial Airtel stake, raising nearly $1 billion.
Expert Opinion: "This strategic sale may be aimed at reallocating resources for new ventures or debt reduction." – Ramesh Agarwal, Telecom Analyst
🗞️ Income Tax Bill 2025: No Refunds for Late Filers
The proposed Income Tax Bill 2025 stipulates that taxpayers filing returns post the due date will forfeit eligibility for refunds.
Expert Opinion: "Timely tax compliance is now more crucial than ever to avoid financial losses." – Sneha Iyer, Tax Consultant
🗞️ NHPC to Commission India's Largest Hydro Project by FY26
NHPC announces plans to commission a 2,170 MW hydroelectric project, set to be the country's largest, by FY26.
Expert Opinion: "This project will significantly boost India's renewable energy capacity, aligning with sustainability goals." – Prakash Sharma, Energy Expert
🗞️ India and Qatar to Expand Trade into AI and Semiconductors
India aims to enhance trade relations with Qatar, focusing on artificial intelligence and semiconductor sectors.
Expert Opinion: "Diversifying trade into technology sectors strengthens economic ties and fosters innovation." – Rajat Sinha, Trade Analyst
📊 Market Updates
Sensex: Down 29.47 points (0.04%), closes at 75,996.86
Nifty 50: Falls 14.20 points (0.06%), ends at 22,959.50
Rupee: Weakens to ₹86.93/$
Gold: Rises to ₹85,559 per 10g
Silver: Priced at ₹1,03,500 per kg
Brent Crude: Increases to $75.37 per barrel