- HDFC Bank Q2 Results LIVE: HDFC Bank, India’s largest private sector lender, reported a 15% year-on-year (YoY) increase in net profit for the second quarter of 2023. The bank’s net profit stood at Rs 11,701 crore in Q2 FY23, compared to Rs 10,135 crore in Q2 FY22.
- Ola Electric to invest $100 million in setting up a new manufacturing plant in Tamil Nadu: Ola Electric, the electric vehicle arm of ride-hailing giant Ola, has announced plans to invest $100 million in setting up a new manufacturing plant in Tamil Nadu. The plant, which will have an annual capacity of 1 million units, is expected to be operational by 2024.
- Amazon to invest $3 billion in India over the next five years: Amazon has announced plans to invest $3 billion in India over the next five years. The investment will be used to expand Amazon’s infrastructure, support businesses on its platform, and create jobs in India.
- Reliance Industries to invest $10 billion in clean energy: Reliance Industries, India’s largest conglomerate, has announced plans to invest
$10 billion in clean energy over the next three years. The investment will be used to develop solar and wind power projects, as well as hydrogen and fuel cell technologies. - TCS to hire 40,000 freshers in India in 2023: Tata Consultancy Services (TCS), India’s largest IT services company, has announced plans to hire 40,000 freshers in India in 2023. The hiring will be across all levels and functions and will be focused on building the company’s digital capabilities.
- Infosys to invest $1 billion in India over the next three years: Infosys, India’s second-largest IT services company, has announced plans to invest $1 billion in India over the next three years. The investment will be used to expand Infosys’s infrastructure, support businesses on its platform, and create jobs in India.
- Wipro to hire 30,000 freshers in India in 2023: Wipro, India’s third-largest IT services company, has announced plans to hire 30,000 freshers in India in 2023. The hiring will be across all levels and functions, and will be focused on building Wipro’s digital capabilities.
- Adani Green Energy to acquire SB Energy for $3.5 billion: Adani Green Energy, India’s largest solar power company, has announced plans to acquire SB Energy for $3.5 billion. SB Energy is a joint venture between SoftBank Group and Bharti Enterprises, and has a portfolio of 5.4 gigawatts of solar power projects in India.
- Paytm to go public in India: Paytm, India’s leading digital payments company, has filed for an initial public offering (IPO) in India. The IPO is expected to raise up to $2.1 billion, and would make Paytm the largest IPO in India’s history.
- Zomato to go public in India: Zomato, India’s leading food delivery company, has filed for an initial public offering (IPO) in India. The IPO is expected to raise up to $1.5 billion, and would make Zomato the second-largest IPO in India’s history.
- Flipkart to acquire PhonePe for $5.5 billion: Flipkart, India’s largest e-commerce company, has announced plans to acquire PhonePe, India’s
leading digital payments company, for $5.5 billion. The acquisition will help Flipkart to expand its payments ecosystem and compete with Amazon India. - BYJU’S to acquire WhiteHat Jr for $2.4 billion: BYJU’S, India’s leading edtech company, has announced plans to acquire WhiteHat Jr, India’s leading coding platform for children, for $2.4 billion. The acquisition will help BYJU’S to expand its product portfolio and reach more students in India.
- Ola to acquire Foodpanda India for $1 billion: Ola, India’s leading ride-hailing company, has announced plans to acquire Foodpanda India, India’s leading food delivery platform, for $1 billion. The acquisition will help Ola to expand its food delivery business and compete with Swiggy and Zomato.
- Reliance Retail to acquire Future Retail for $3.4 billion: Reliance Retail, India’s largest retail chain, has announced plans to acquire Future Retail, India’s second-largest retail chain, for $3.4 billion. The acquisition will help Reliance Retail to expand its retail presence in India.
- Tata Motors to invest $1 billion in electric vehicles: Tata Motors, India’s largest automaker, has announced plans to invest $1 billion in electric
vehicles over the next five years. The investment will be used to develop new electric vehicles and expand Tata Motors’s electric vehicle manufacturing capacity. - Ather Energy to raise $1 billion in funding: Ather Energy, India’s leading electric scooter company, has announced plans to raise $1 billion in funding. The funding will be used to expand Ather Energy’s product portfolio, expand its retail presence, and invest in research and development.
- Paytm Mall to shut down: Paytm Mall, India’s leading online marketplace, has announced plans to shut down. The shutdown is due to a number of factors, including the increasing competition from Amazon India and Flipkart, and the company’s inability to raise enough funding.
- OYO Rooms to lay off 6,000 employees: OYO Rooms, India’s leading hotel chain, has announced plans to lay off 6,000 employees. The layoffs are due to a number of factors, including the company’s financial performance, and the increasing competition from other hotel chains.
- Flipkart to launch its own private label fashion brand: Flipkart, India’s largest e-commerce company, has announced plans to launch its own private label fashion brand. The brand, which will be called Flipkart Fashion, will offer a range of apparel, footwear, and accessories for men, women, and children
- Amazon India to open its first physical retail store: Amazon India, the Indian subsidiary of Amazon, has announced plans to open its first physical retail store. The store, which will be located in Bengaluru, will sell a range of products, including books, electronics, and home goods.
- Reliance Jio to launch its own 5G network: Reliance Jio, India’s largest telecom operator, has announced plans to launch its own 5G network. The network is expected to be launched in 2023, and will offer speeds of up to 1 gigabit per second.
- Tata Neu to launch in India: Tata Neu, a new digital ecosystem from Tata Group, has announced plans to launch in India. The ecosystem will offer a range of services, including e-commerce, payments, and loyalty.
- Ola to launch its own electric car: Ola, India’s leading ride-hailing company, has announced plans to launch its own electric car. The car,
which is expected to be launched in 2024, will be priced at around Rs 10 lakh. - Ather Energy to launch its second electric scooter: Ather Energy, India’s leading electric scooter company, has announced plans to launch its
second electric scooter. The scooter, which is expected to be launched in 2023, will be priced at around Rs 1.5 lakh. - Byju’s to acquire Great Learning for $1.2 billion: Byju’s, India’s leading edtech company, has announced plans to acquire Great Learning, India’s leading online higher education company, for $1.2 billion. The acquisition will help Byju’s to expand its product portfolio and reach more students in India.
- Unacademy to acquire Toppr for $1 billion: Unacademy, India’s leading online learning platform, has announced plans to acquire Toppr, India’s leading online test prep platform, for $1 billion. The acquisition will help Unacademy to expand its product portfolio and reach more students in India.
- India’s economy grows at slowest pace in nine years: India’s economy grew at its slowest pace in nine years in the first quarter of 2023, as the war in Ukraine and rising inflation weighed on growth. The economy grew by 4.1% in the first quarter, compared to 4.7% in the same quarter of 2022.
- India’s inflation hits 8-year high: India’s inflation hit an eight-year high in June 2023, as the war in Ukraine and rising commodity prices pushed up prices. The Consumer Price Index (CPI) inflation rate stood at 7.01% in June, compared to 6.30% in May.
- India’s rupee hits record low: India’s rupee hit a record low against the US dollar in July 2023, as investors worried about the impact of the economic slowdown and rising inflation on the economy. The rupee fell to 79.37 against the dollar, its lowest level ever.
- India’s stock market falls: India’s stock market fell sharply in the first half of 2023, as the global stock market sell-off and the economic slowdown in India weighed on investor sentiment. The Sensex, the benchmark index of the Bombay Stock Exchange (BSE), fell by more than 15% in the first half of the year.
- India’s unemployment rate rises: India’s unemployment rate rose to 7.83% in June 2023, its highest level in four months. The unemployment rate rose as the economic slowdown and rising inflation led to job losses.
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