Bullets

A perfect storm of positive signals - exit polls, economic data, and tax collections - sent Bombay Stock Exchange aka BSE’s market cap soaring to a record $5.09 trillion (around ₹419.98 lakh crore).

Investors raked in a cool ₹12.48 trillion, with the Sensex breaching the 76,000 mark for the first time ever.  

Is this a sign of a booming Indian economy, or just a temporary blip? You be the judge!

Looks like Ola Electric is hitting the brakes on employee spending! The electric scooter giant is reportedly trimming its workforce by 400-500 to tighten its belt before its big IPO debut.

With an employee attrition rate of 47.48%, Ola Electric reported to have 3,733 employees as of October 2023.

But here's the twist: some of those laid off might be replaced with... cheaper hires? Is this a cost-cutting masterstroke or a recipe for future growing pains? Only time will tell.

Tata Group is making a big bet on Artificial Intelligence (AI)! Chairman N Chandrasekaran announced over 100 AI projects across various companies, aiming to improve customer experience, productivity, and efficiency.

This includes using AI for tasks like generating product catalogues and personalising offers in e-commerce. While highlighting the benefits, it also acknowledges potential risks and the need for regulation.

Will this be enough for TCS to keep up pace with the vastly advancing technology?

Also Read: Is Tata Group is planning an IPO shower?

Big news for Indian investors! Starting this Saturday, the top 100 listed companies must address market rumours within 24 hours if reported by mainstream media.

This initiative will help to clarify information and potentially prevent stock price swings based on speculation. The rule expands to the top 250 companies by December.

Separately, a new rule excludes price volatility from average market price calculations for corporate actions, ensuring fairness for all investors.

Fresh graduates in India, listen up! LinkedIn’s “Guide to Kickstarting Your Career” report says Utilities is the hottest industry for individuals with bachelor's degree.

Design, data analysis, and programming skills are in high demand. The good news: hybrid work is booming and is up by 52%.

After Utilities sector, Oil, Gas and Mining, Real Estate, Equipment Rental Services, and Consumer Services are also good choices.

Jewelry retailer Bluestone is close to raising $100 million (around ₹830 crore), which could value them at over $1 billion and make them a unicorn.

This is more than double their valuation of $450 million (around ₹3,735 crore) from last year. Bluestone is aiming for profitability by March 2025.

This funding round attracts both new and existing investors, possibly due to Titan's recent acquisition in the space.

Also read: Top 5 Unicorns in India

Paytm's parent company One97 Communications' stock price surged on rumours that Adani Group might be acquiring a stake.

Reports suggest Paytm CEO met with Adani to discuss a deal, but both Paytm and Adani have denied any such talks.

This potential entry into fintech by Adani would put them against Google Pay, PhonePe, and Jio Financial. Would it be enough to save Paytm?

Also Read: Adani Power Analysis: Gautam Adani's Trump Card?

Life insurance giant LIC is considering entering the health insurance market in India. Currently, LIC can only offer limited health benefits.

This comes as the government weighs allowing insurers to offer both life and health insurance (composite licences).

As other players such as Bajaj Allianz provide both services, the competition is bound to shake if LIC enters the health business.

Adani Group is on the move! After overcoming the Hindenburg crisis, they're looking to raise ₹16,600 crore through share issuance.

But their ambitions go beyond traditional business. Adani Group is reportedly planning to enter the e-commerce & payments space, potentially rivalling giants like Google and Reliance.

This could involve getting a UPI licence and launching an Adani credit card. A big revolution is on the horizon soon.

Hyundai opened its first fast-charging EV station in Chennai, Tamil Nadu, India. This 180 kW DC station can charge any compatible four-wheeler EV and is part of Hyundai's plan to install 100 such stations across the state.

EV owners can use the myHyundai App to find, navigate to, and pre-book charging slots, as well as make digital payments & monitor charging status remotely.

This is Hyundai's attempt to keep pace with other automotive companies in India. Whether it will be successful remains to be seen.

Also Read: Mahindra & Mahindra Plan to ₹37,000 Crore Plan to Defeat Competition.

PhonePe and BharatPe, locked in a trademark battle over "Pe" for five years, have finally settled! Both companies have withdrawn legal challenges, paving the way for individual trademark registrations.

The dispute began in 2018 when PhonePe objected to BharatPe's use of "Pe" in Devanagari. This war extended to PhonePe challenging BharatPe's "PostPe" service in 2021, but that lawsuit was dismissed.

This settlement marks an amicable end to a long-standing legal fight.

Also Read: Is Bad Blood with Ashneer Grover Destroying BharatPe?

Indian stock markets hit new highs on Monday, following gains in Asia. The Sensex reached a record high of 75,679, while the Nifty50 climbed to 23,043.

Adani Ports jumped 3% after replacing Wipro in the Sensex. Divi's Laboratories surged over 5% on strong earnings.

Financial and metal stocks led the surge. Real estate, banking, and other sectors also rose.

Reliance Industries (RIL) seeks approval for an $8.5 billion (₹70,550 crore) merger of its Viacom18 with Star India, owned by Disney.

If Competition Commission of India (CCI) approves, the merged entity will be a joint venture with RIL, Viacom18, and Disney as partners.

RIL claims the merger won't hurt competition, but acknowledges overlaps in areas like content licensing and advertising.

E-commerce giant Flipkart secured nearly $1 billion (₹8,300 crore) in funding, with Google joining the round for $350 million. This values Flipkart at $35-36 billion (around ₹2.9 lakh crore).

This marks the first time a major internet company has invested in Flipkart since Walmart acquired it in 2018.

It's also the biggest funding by a consumer internet firm in recent times. Flipkart plans to use the funds to restart its quick commerce business (like Zepto or Blinkit) in July and strengthen its core business and ventures like Cleartrip and Shopsy.

Zee Entertainment spent a whopping ₹432 crore ($52 million) on its failed merger with Sony's Indian unit Culver Max Entertainment.

The deal fell through in January due to disagreements over leadership and unmet conditions. This hefty sum includes ₹256 crore spent in the last year alone.

Zee also had to shut down some businesses to meet merger requirements, leading to an additional ₹331 crore in charges.

The breakup between to-be partners was way too expensive for Zee Entertainment. Curious to know what went wrong? Read Is Zee-Sony Merger On or Off?

Spices in India are mostly cleared of Ethylene Oxide (EtO) scare. Tests on popular brands MDH and Everest by India's food safety agency FSSAI found no traces of EtO in most samples.

This comes after Singapore and Hong Kong banned these brands on the grounds that they contained too high EtO levels. Over 300 spice samples across brands are being tested nationwide.

So, was the ban placed on Indian spice brands a fluke or a hypocrisy from competitors?

Also Read: Is the Indian Food Industry in Danger?

IREDA, the renewable energy financier, is gearing up for an FPO (Follow-on Public Offering) to raise more funds. They might issue a follow-on public offering (FPO) later this year or early next year.

This comes after their successful IPO in December 2023. The additional capital will be used to support renewable energy projects in India.  

It’s like they’re saying, “Hey investors, want to save the planet and make some green (money)?”

Paytm's losses widened significantly in Q4 2024, reaching ₹550 crore compared to ₹169 crore last year. Revenue also dipped 3% YoY.

Even profitability metrics like EBITDA painted a concerning picture as it fell to ₹103 crore.

The company attributed these results to temporary issues from the UPI transition and a permanent disruption from the Paytm Payments Bank embargo.

Pine Labs, a $5 billion (₹41,500 crore) fintech company offering payment and BNPL services, is moving its base from Singapore to India.

This simplifies operations and reduces costs for the company. Pine Labs had earlier planned an overseas IPO but delayed it due to market volatility.

This announcement follows a trend of fintech firms like PhonePe and Razorpay returning to India's booming market.

Microsoft is launching a new line of AI-powered PCs called "Copilot+" to compete with Alphabet and Apple.

These PCs will start at $1,000 (₹83,000) and boast features like "Recall," which uses on-device AI to create a searchable history of everything you've done on the computer, from browsing to chats.

This launch comes as Microsoft's stock surges on Wall Street's belief that AI will be a major profit driver.