Bullets

HDFC Bank is shedding some debt! The Indian lender has sold off a chunk of housing loans worth around ₹6,000 crore and a pile of car loans worth ₹9,060 crore.

Why? HDFC Bank is trying to lighten their load due to stricter regulations. These loans were sold to state-owned banks and securitised into pass-through certificates.

So, what does this mean for borrowers and investors?

India is dreaming big as its planning on being the AI capital of the world. With their huge population, digital skills, and growing tech talent, they're well-positioned to make it happen.

But here's the catch: India's IT industry is mostly focused on exporting software. They need to invest more in domestic AI infrastructure to compete with the big players.

So, what's next for India's AI journey and will it be able to achieve the dream?

ChatGPT creator OpenAI is shaking things up! They're planning to restructure as a for-profit company, giving up control of their non-profit board.

This move is all about attracting more investors and potentially boosting their valuation to a whopping $150 billion (₹12.45 lakh crore).

The non-profit OpenAI will still hold a minority stake in the new company, and CEO Sam Altman will get his first taste of equity. Plus, they're looking to remove the cap on investor returns, making it even more enticing for investors.

Foxconn, the company behind Apple's iPhones, is considering a massive $1 billion (~₹8,300 crore) investment in Tamil Nadu. They're planning to build a unit that makes smartphone display modules.

This would be Foxconn's first facility of its kind in India. And it's not just for Apple! Other companies like Pegatron or Tata Electronics could also use components from this unit.

This move could mean more iPhones being made in India and fewer imports from China.

Swiggy is gearing up for its big public debut with a star-studded endorsement campaign. Celebrities from entertainment, sports, and business are snapping up pre-IPO shares, showing their confidence in the food delivery giant.

Despite competition from rivals like Zomato and Zepto, Swiggy's shares are a hot property in the unlisted market. Over 200,000 shares have already been snatched up by high-profile investors.

Want to get in on the action? Keep an eye on Swiggy's IPO news and other crucial details via this article link.

India's discount broking giant, Zerodha, just announced some impressive numbers for the last financial year. Their profits jumped 62% to ₹4,700 crore, while revenue rose 21% to ₹8,320 crore.

But that's not all. The founders, Nithin and Nikhil Kamath, revealed that traders on their platform are sitting on unrealized profits of over ₹1 lakh crore!

That's a lot of potential gains waiting to be realised. Are you one of them?

Edtech giant Byju's is facing yet another major setback. A US court has ruled that they're in default on a $1.5 billion (₹12,450 crore) loan.

This means lenders can now demand full repayment and even take control of Byju's US operations.

Byju's founders are in a tough spot. It looks like they'll have to come up with a plan fast or risk losing a significant part of their empire.

Mahindra & Mahindra and Skoda Auto Volkswagen India are reportedly talking about forming a joint venture to make cars together.

The two companies have been meeting to discuss the details, including which cars they'll make and where they'll build them.

This could be a big deal for both companies, bringing together their expertise and resources. Looks like we might be seeing a new car duo on Indian roads!

Also Read: Mahindra & Mahindra's Plan to Defeat Competitors

After a long, quiet spell, IT companies are seeing a surge in demand. In just the past two months, these tech giants have bagged 33 deals!

TCS, Infosys, HCLTech, and Wipro are leading the charge, securing contracts with big names like Primark, Rolls-Royce, and McDonald's. It's a clear sign that the IT industry is back on track.

Want to know more about the deals and companies involved? Give us your feedback.

India's wealthtech sector is buzzing with excitement as AI takes centre stage! Startups are ditching traditional robo advisors and exploring cutting-edge AI models like ChatGPT.

Centricity, for example, has built a voice-powered recommendation engine. They're also using AI for everything from finding new clients to training their advisors.

It's clear that AI is the future of wealthtech management. What do you think about this change?

In a major victory for Tata Sons, the GST department has dismissed a demand for over ₹1,500 crore. This comes after a settlement deal with Docomo.

This decision sets a precedent for other companies involved in arbitration cases.

Read about Tata Sons history here.

India's Solar Energy Corporation (SECI) is doubling down on renewable energy! They're pledging ₹18,000 crore to expand their green capacity by 2030.

They're also planning to hit the stock market in the next one to two years.

The government wants to add at least 500 GW of clean energy by 2030, and SECI is leading the charge.

Want to know more about India's green energy push? Click here!

Bad news for Vodafone Idea as the Supreme Court rejected their plea to re-calculate their AGR dues.

This means they now owe even more to the government. Vodafone Idea is in a tough spot financially, and this ruling could push them to the brink. They're holding an urgent meeting with investors on September 23 to discuss their next steps.

Will Vi be able to survive this storm?

OYO, the Indian budget hotel giant, is making a big splash in the US! They've just agreed to buy Motel 6 and Studio 6, two iconic American hotel chains, for $525 million (₹4,357.5 crore).

This move is a major step for OYO as they expand their reach beyond India. It's also a big win for Blackstone Real Estate, who are selling the chains.

So, what does this mean for travelers?

Also Read: How does Oyo Rooms Make Money?

Adani Group is making a big play in the infrastructure space! They’re reportedly close to buying a significant stake in ITD Cementation India.

This move would add to their already impressive portfolio of airports, highways, ports, and more.

The deal could be worth ₹5,888 crore. If it goes through, Adani Group would become a major player in the engineering, procurement, and construction (EPC) game.

Noida-based astrology platform Astrotalk has seen its revenue skyrocket, more than doubling in just one year to ₹651 crore.

Not only that, their net profit has increased by a massive ten times to ₹94 crore.

Looks like people are turning to the stars for answers!

OpenAI is raising a massive $6.5 billion (₹53,950 crore), and the demand is so high, it's oversubscribed!

OpenAI’s biggest backer Microsoft Corp. and new investors Nvidia Corp. and Apple Inc., have more chances to get access.

This makes OpenAI a $150 billion (₹12.45 lakh crore) valued firm, without adding up the new investment.

Zomato is facing a hefty GST bill from West Bengal. The food delivery giant is being asked to pay ₹17.7 crore in taxes, interest, and penalties.

Zomato believes they're in the right and will be appealing the decision.

Want to know more about what Zomato is planning? Read here.

In a major setback, Indian telecom companies like Vodafone Idea and Bharti Airtel have lost their fight against the government over the re-computation of Adjusted Gross Revenue (AGR).

 The Supreme Court has rejected their curative petitions, which were their last hope. This is a big blow for the telcos, who are already struggling under huge debts.

Following this loss, Vi shares took a nosedive, dropping almost 10% after the news broke.

Will the government offer any relief to the struggling telcos?

Unilever is bringing its global luxury beauty brand, Hourglass, to India. This marks a major move into the high-end cosmetics market, which has been seeing a lot of action from both international giants and local startups.

Hourglass, known for its premium products and commitment to cruelty-free beauty, was founded in 2004 and joined the Unilever family in 2017.

Is India’s beauty segment going to be disrupted by yet another acquisition of HUL?