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In a major setback to Prime Minister Narendra Modi's plans of making India a chip-manufacturing hub, Taiwanese chip-making giant Foxconn on Monday announced that it has withdrawn from a joint venture with India-based industrial giant Vedanta.

The Kal airlines, in a statement, said that it has come to its knowledge that a statement purportedly issued by the spokesperson of SpiceJet Ltd has been circulating among certain sections of the media that SpiceJet Ltd is in talks with Kalani Pvt. Ltd. for an amicable settlement.

Weak global cues and profit booking in domestic equities dragged the key indices down on Friday. Nifty opened lower and remained in negative territory throughout the session to close near the day’s low with a loss of 166 points (-0.8 per cent) at 19,332 levels.

The strengthening of the US dollar and the slight reduction in global recession concerns have resulted in a decline in gold prices, said an analyst with Geojit Financial Services. 

The next big Indian unicorn that has reached troubled waters is online pharmacy startup PharmEasy which, according to multiple reports, is in deep crisis amid sharp valuation cut as it seeks new funding.

The e-commerce transaction value in India is likely to rise from $83 billion in 2022 to nearly $150 billion in 2026 at a 16 per cent compound annual growth rate, a report showed on Wednesday.

India continues to trade at above mean valuations and at premium levels relative to global equities. Mid-caps are now trading at average premium levels helped by pick-up in FPI equity inflow into India especially in financial services, industrials, and auto sectors.

It seems to be a merger season in the Indian banking sector. On Monday, the Board of Directors of listed IDFC FIRST Bank Ltd approved the composite scheme of amalgamation amongst IDFC Financial Holding Company Ltd, IDFC Ltd and the bank.

The valuation gap between the two major private sector banks – HDFC Bank (post merger of HDFC Ltd) and the ICICI Bank Ltd - may not widen in the short run, said an analyst with LKP Securities.

On the other hand, countries such as South Korea, Taiwan and Indonesia have received far less inflows compared to India, Jahnavi Prabhakar, Economist at Bank of Baroda, said in a report.

The recent surge in FPI inflows have been triggered by the recent ‘Sell China, Buy India’ strategy of the FPIs which, in turn, is being influenced hugely by the anti-China attitude/policy evolving in the US and the developed world.

Nifty's journey from 18,000 to 19,000 took 425 trading days (from October'21-June'23) vs. only 30 days when it covered the journey from 17,000 to 18,000, Motilal Oswal Financial Services said in a report.

Out of the GST collected in June, CGST was Rs 31,013 crore, SGST was Rs 38,292 crore, IGST was Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess Rs 11,900 crore (including Rs 1,028 crore collected on import of goods).

This year, smartphones are the fifth highest exported product from India and has crossed Rs 1 lakh crore in our 'Techade' that will certainly see the country as a major player in global electronics in years to come, says Rajeev Chandrasekhar, Union Minister of State for Electronics and IT.

The domestic indices ended Wednesday’s session after hitting fresh all-time highs during the day. The NSE Nifty 50 soared 54.70 points or 0.82 per cent to 18,972.10, while the BSE Sensex surged 499.39 points or 0.79 per cent to 63,915.42.

Statistics Canada said on Tuesday this was the smallest increase since June 2021 and the slowdown was largely driven by lower year-over-year prices for gasoline resulting from a base-year effect, Xinhua news agency reported.

India which is currently the third largest startup ecosystem in the world, is likely to see 147 unicorns in the next five years, disrupting financial services, healthcare, business management solutions and education sectors, a report showed on Tuesday.

ThoughtSpot recently announced $150 million investment in India between 2022 and 2027, which includes 30 per cent headcount growth in the market, and follows the opening of its third R&D centre in the region in Thiruvananthapuram in 2022. 

An important feature of the rally that took the Sensex to record high was its weak structure and lack of enthusiastic investor participation, says V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

UAE-based retailer Lulu Group, which is all set to enter Telangana with its first Lulu Mall and Hypermarket, plans to invest Rs.3,500 crore in the state over the next five years.

A Mumbai share-broker has been arrested for allegedly indulging in illegal 'dabba trading' activities worth over Rs 4,600-crore between March and June, officials said here.

Industry experts said the upward trend will be there for some more months and the markets may turn nervous during the next round of state elections in November/December 2023.

With a value of Rs 16.3 lakh crore, Reliance Industries is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore.

Zee Entertainment Enterprises has written to SEBI that "continuous and repetitive" investigations on the same cause of action creates prejudice for the Company and Shareholders, and can potentially impact the merger process.

However, the sale of rice under the OMSS will be continued for northeastern states, hilly states and states facing law and order situations, natural calamities at an existing rate of Rs 3,400 per quintal, it said.