World’s leading artificial intelligence (AI) chipmaker Nvidia on Tuesday suffered a record loss of $279 billion or 9.5 per cent of market capitalisation, leading the broader US market selloff triggered by disappointing economic data.

This setback followed last week’s announcement that Nvidia's third-quarterly revenue is expected to be around $32.5 billion.

The Securities and Exchange Board of India (Sebi) on Wednesday rejected the allegations of fostering an unprofessional work culture, terming them “misguided” and an attempt to undermine employee capabilities.

The market regulator clarified that the recent human resource (HR) initiatives aimed to recognise deserving employees based on objective performance assessments.

Adani Power is planning to significantly expand its Kawai power plant in Rajasthan by investing up to Rs 18,000 crore to more than triple the plant's current capacity, The Economic Times reported on Wednesday.

At present, the plant has a capacity of 1,320 MW and will undergo an expansion in two phases. Each phase will add 1,600 MW, eventually increasing the plant's total capacity to 4,520 MW over the next few years, the report added.

In a significant boost to the Indian primary markets, August witnessed a sharp surge in initial public offering (IPO) activity, reaching its highest level in over two years. A total of 10 companies successfully raised a cumulative Rs 17,047 crore, marking the largest monthly fundraising since May 2022, according to a report by Moneycontrol.

Of the total raised, about 57 per cent, or Rs 9,715 crore, came from fresh issue capital, while Rs 7,333 crore came from offer for sale (OFS) components.

The Bombay High Court on Tuesday suggested three names for the formation of a committee to suggest Standard Operating Procedures (SOPs) for the police, hospitals and schools while investigating cases related to sexual assaults on minors.

During the hearing of the Badlapur minors' sexual assault case, the bench of Justices Revati Mohite Dere and Prithviraj Chavan suggested the names of retired IPS officer Meera Borwankar, former Bombay High Court Judge Sadhana Jadhav.

Adani Enterprises Ltd.’s maiden bond issuance targeted at individual investors opens for subscription Wednesday as the conglomerate seeks to diversify its funding base following a brutal short seller attack last year.

The flagship firm of Indian billionaire Gautam Adani’s group plans to raise as much as Rs 800 crore ($95.3 million) through the issuance where 60 per cent of the amount is reserved for high networth and retail individuals, according to its prospectus.

The Centre is set to allocate an additional Rs 6,000 crore to Bharat Sanchar Nigam Limited (BSNL) for the acquisition of 4G network equipment, which is crucial for the long-overdue deployment of the state-run telecom's services, according to a report by The Economic Times. The delay in the 4G rollout has worsened BSNL’s subscriber attrition.

The Union Ministry of Finance will dilute a 6.78 per cent stake in public-sector reinsurance company General Insurance Corporation of India (GIC) Re to garner around Rs 4,700 crore.

The stake sale, for the first time since the listing of the reinsurance company in 2017 through the offer-for-sale (OFS) route, will begin on Wednesday for non-retail investors.

India will continue with five per cent tax on electric cars and 48 per cent tax on hybrid cars for a "long period of time", said its G20 Sherpa Amitabh Kant on Tuesday.

Major car makers such as Maruti Suzuki India and Toyota Kirloskar Motor have been asking for lowering of taxes on hybrid cars.

The Joint Action Committee (JAC) of Telangana Employees, Gazetted Officers, Teachers, Workers, and Pensioners has pledged approximately Rs 130 crores to the Chief Minister's Relief Fund for flood relief. This amount is equivalent to one day's basic pay for all employees and pensioners.

Eluri Sreenivasa Rao, Secretary General of the Telangana Employees JAC, stated, "We are 6,50,000 people including employees, pensioners, and others. We receive Rs 2000 as basic pay for 1 day.

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