Bullets

The beta version of the T+0 settlement system will launch from 28 March onwards for 25 selective stocks. This initiative of the Indian stock market is a unique step to reduce a shorter trade settlement cycle.

Here, the funds and shares would be sent to the seller and buyers’ accounts on the same day (T = Trade Day and 0 = no. of days). 

SBI, Ambuja Cements, Ashok Leyland, Bajaj Auto, Tata Communications, Bank of Baroda, BPCL, etc. are the few selective stocks for the beta version.

With the profound success of the Tata Technologies IPO, which was oversubscribed 69 times, Tata Group has multiple similar plans for the near future.

Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing and Tata Batteries are included for to-be publicly listed companies.

Tata Group wishes to expand into new sectors such as digital, retail, semiconductors, and electric vehicle batteries.

Which of these would make the final list is yet to be seen.

Top IT stocks in India, including Infosys, HCL Tech, Wipro and TCS, suddenly dropped 3-5% Friday morning. The reason for the market's leaning downwards is another IT firm, Accenture.

Accenture announced a reduction in its FY24 revenue forecast from 2-5% to 1-3%, which led to the whole IT sector facing caution. As a result, the Nifty Index fell 3% within a few hours of the market opening.

Economic uncertainty became the reason for the IT companies' falling benchmark, as Accenture is considered a key peer.

Curious to know how the IT sector may fare? Read the article on the IT sector and investor insights.

With the Federal Reserve System (US Fed) announcing interest rate cuts in June, the Indian stock market bloomed.

Sensex hiked over 750 points, and Nifty showed a 1% upward movement, increasing the market capitalisation of listed companies by ₹5.71 lakh crore. Now, the total market cap is about ₹379.53 lakh crore.

Will this bull rally continue, or will other adverse effects befall the nation?

One of India’s top private banks, HDFC, has completed selling its stakes in HDFC Credila for ₹9,552.73 crore. These stakes were bought by private equity firms BPEA EQT and ChrysCapital.

Bank’s education finance arm, Credila’s share transfer, was a necessary regulatory requirement to finish the Housing Development Finance Corporation merger with HDFC Bank.

The stake sale came just a month before the fourth quarter results came out. Read about why the merger is happening from the article: HDFC Bank Merger. 

Tata Sons is planning a block deal to divest 0.065% of shares to Tata Consultancy Services (TCS) in the open market.

Around 23.4 million shares would be offloaded at a floor price of ₹4,001, raising the capital of about ₹9,362 crore.

Tata Sons' block deal would be handled by investment banks JP Morgan and Citi, and its base price is 3.7% lower than the TCS stock’s last close. 

SpiceJet lenders have approved increasing the initial bidding amount for Go First of ₹16 billion by ₹1-₹1.5 billion. Sources say SpiceJet’s CMD Ajay Singh led this increment plan for the bidding.

The now-bankrupt airline Go First has been looking for buyers, and it received two bidders, including Sharjah-based Sky One Airways and SpiceJet.

Know the complete story of how Go First became bankrupt and filed for insolvency from the article: Go First Airline Insolvency.

Infosys Co-Founder Narayana Murthy has again made news after the controversial 60-hour work statement. This time, the news surrounds his 4-month-old grandson Ekagrah Rohan Murty.

Murthy has transferred shares worth ₹240 crore to his grandson's name, making the little child the youngest millionaire in India. 

Child Ekagrah now owns 1,500,000 shares, amounting to a 0.04% stake in Infosys. This is an excellent example of being born with a silver spoon in your mouth. 🥄

SBI was compelled by the Supreme Court to disclose data on now-banned electoral bonds. A list of top electoral bond donors and political party-wise donation amounts was revealed.

Companies like Vedanta Ltd., Jindal Steel & Power Ltd., Birla Carbon India Pvt. Ltd., etc. donated from ₹100 crore to over ₹1200 crores individually.  

SC is demanding that SBI disclose the unique alphanumeric numbers for electoral bonds by 18 March. The upcoming revelations will expose the troubling connection between Indian politics and business.

India’s central bank, RBI, receives permission to import gold without paying additional import levies. Originally, importers had to pay 15% customs duty and 5% Agriculture Infrastructure and Development Cess (AIDC) to import gold.

RBI holds 800.79 metric tonnes of gold, of which 372.84 metric tonnes are held domestically, and 388.06 metric tonnes are overseas.

The Centre raised import duty on gold & silver findings and coins from 11% to 15% in January 2024. For the world’s 2nd largest gold consumer, this is a major step.

Taking the chip manufacturing industry to a notch high, PM Narendra Modi laid the foundation for India’s first chip fabrication unit in Dholera, Gujarat.

3 projects, namely the Tata-PSMC chip foundry worth ₹91,000 crore, the ₹27,000 crore Tata OSAT facility, and the CG Power-Renesas worth ₹7,600 crore, have been approved by the Cabinet.

This chip fabrication unit by Tata Group will help India boost its self-reliance and become a manufacturing power hub.

Analyse the semiconductor industry by learning about the top stocks in India.

With the rumours that British American Tobacco (BAT) is selling $2-3 billion (over ₹16,600 crore) worth of shares, ITC’s share price dived 2.5% today on BSE.

BAT is ITC’s largest shareholder, holding 29%. This raised investors' concerns about the fundamentals of cigarette sellers in the market.

As per sources, BAT is already in talks with Citigroup and Bank of America to divest some load of ITC shortly.

Adani Group has planned a major ₹60,000 crore boost for its airport business, “Adani Airport Holdings Ltd.” over the next 5-10 years.

Adani Group has 7 airports under its operations, which would see upgradation in terminal and runway capacity as well as cityside development for aesthetics.

AAHL states that the funding of 60,000 crore would be borne by the parent company, Adani Enterprises Ltd., through internal accruals.

Interested in Adani Group? Read about the insights of Adani Power, the trump card of the Adani Group.

Meesho may get a secondary deal from investors like Peak XV Partners (formerly Sequoia Capital India) and Tiger Global.

Angel investors and early backers of e-commerce Meesho are looking to sell shares worth $200 million, with the transaction rumoured to be valued at $3.5-3.9 billion, over ₹29,000 crore.

Along with this, Softbank-backed Meesho’s other investor, Meta, may also sell some of its stakes and earn profit from the ordeal.

The persistent battle between Indian startups and tech giant Google has been kept on hold for 4 months.

Both sides agreed to a ceasefire after Google removed 10 startups (Matrimony.com, Nuakri.com, etc.) from its Play Store and then accepted them back due to pressure from Indian authorities.

This news came as a sigh of relief (albeit short) for the Indian startup ecosystem after months of ongoing fight. What would happen after 4 months is another story.

The Central Consumer Protection Advisory (CCPA) reminds influencers in a warning gesture to avoid promoting betting and gambling products or sites.

Online advertising intermediaries were also warned to avoid directing such ads towards the audience.

The Ministry of Information & Broadcasting (MIB) has ordered states to take strict action against such activities and also forwarded detailed guidelines to be followed.

The government plans to protect human digital rights and provide a safe online environment via a Digital India Act.

Underdog Adani Power received the green light from its creditors to acquire insolvent Lanco Amarkantak Power.

This will be the 2nd buy under the insolvency resolution process for Adani’s thermal power producer. Through these acquisitions, Adani Power plans to increase its capacity to 21,150 MW from the current 15,250 MW.

Adani Power hasn't revealed the bid value for the acquisition yet.

Read about the financial prowess of Adani Power and its future aspects from an investor's angle from the article: Adani Power Analysis.

Accenture is making waves with its announcement of investing $1 billion in its AI platform LearnVantage over 3 years and buying EdTech platform Udacity.

Accenture recently launched an AI-native learning platform, "Accenture LearnVantage”, to help clients boost their employee's skills in technology, data, and AI.

Udacity’s acquisition will help Accenture enhance the services it provides from its AI platform, giving clients an even more advanced service.

Amazon CEO Jeff Bezos replaced Tesla CEO Elon Musk as the richest man alive as per the Bloomberg Billionaire Index. Bezos’ net worth of $200.3 billion (around ₹1,6.6 lakh crore) served him in this position as Musk’s wealth reduced to $197.7 billion (around ₹16.4 lakh crore).

A 7.2% fall in Tesla Inc.’s shares on March 4, 2024, became the reason for this decline in Elon Musk’s net worth.

Can you guess who the richest person in India is? 👈

Tata Motors Ltd. has received approval from the Tata Group's board of directors for a demerger into two separate listed companies.

One company would include the Commercial Vehicles (CV) business & its associated investments, while the other will consist of the Passenger Vehicles businesses, including PV, EV, JLR, and related investments. 

The demerger would occur via the NCLT scheme of arrangement, and all the shareholders would retain an identical shareholding in both the demerged entities.