The market capitalisation of InterGlobe Aviation, which operates the country’s largest airline IndiGo, topped the Rs. 1-trillion mark on Wednesday. InterGlobe is the first domestic airline company to achieve this milestone. Shares of the company recorded an all-time high of Rs. 2,634 in intra-day trade. The stock has rallied 55 per cent in the past one year.

InterGlobe has been able to cement its number one position amid the grounding of Go First. Analysts have increased the company’s operating margin forecasts on back of improvement in yields and passenger load factor.

Prime Minister Narendra Modi on Wednesday chaired a meeting of the 42nd edition of PRAGATI, the ICT-based multi-modal platform for Pro-Active Governance and Timely Implementation, involving Centre and state governments.

In the meeting, twelve key projects were reviewed. Among the twelve projects, seven projects were from the Ministry of Health and Family Welfare, two projects were from the Ministry of Railways and one project each was from the Ministry of Road Transport and Highways, Ministry of Steel, Ministry of Petroleum and Natural Gas.

India’s benchmark indices posted strong gains for a second straight day to hit record highs on Wednesday, with the Sensex breaching the 64,000 mark for the first time and the Nifty50 index topping the 19,000 level in intraday trade. Both the indices, however, settled below these milestones.

The Sensex closed the session at 63,915 with a gain of 499 points, or 0.8 per cent, after hitting an intra-day high of 64,050. The Nifty, on the other hand, retreated after touching 19,011 to settle at 18,972, up 155 points, or 0.8 per cent.

The Ministry of Finance on Wednesday extended the deadline to apply the proposed changes in Tax Collection at Source (TCS) rates from October 1.

"No change in rate of TCS for all purposes under Liberalised Remittance Scheme (LRS) and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs 7 lakh per individual per annum" the press release said.

Tata Communications on Wednesday announced that it would acquire NYSE-listed Kaleyra, a global omnichannel integrated communication services provider with a set of proprietary platforms offering targeted personalisation through messaging, video, push notification, e-mails and voice-based services, and chatbots. The acquisition is an all cash deal.

Tata Communications has agreed to acquire Kaleyra at a price per share of $7.25, for a total consideration to Kaleyra shareholders of approximately $100 million, besides the assumption of all outstanding debt.

Shares of Tata Motors hit a fresh multi-year high of Rs 589.15, up 3 per cent on Wednesday's intra-day, after Tata Technologies received market regulator Securities and Exchange Board of India's (Sebi's) approval to raise funds through initial public offering (IPO).

The stock of the Tata group automobile company was trading at its highest level since September 2016. It hit a record high level of Rs 606 on February 3, 2015. Thus far in the calendar year 2023, it has rallied 52 per cent as compared to a 4.4 per cent rise in the S&P BSE Sensex.

The ICC World Cup is more than three months away, but hotels in Ahmedabad have set the field already. Hotel room prices have gone through the roof in the city even when booked more than three months in advance. In some cases, the cost of a base category room at a five-star hotel has reached Rs 50,000 per night, The Times of India (ToI) has reported.

In normal circumstances, these rooms can be booked for Rs 6,500-10,000. The cricket world cup will be organised in India from October 5 to November 19.

Sleepwell mattresses' owner Sheela Foam will acquire rival company Kurlon Enterprise, buying 100 per cent of the company in two tranches for a cash consideration of Rs 3,250 crore, reported Moneycontrol.

The transaction is expected to be completed within the next few months, it added.

Four minors and a woman were killed and several others injured when a truck in which they were travelling overturned and fell into a river in Madhya Pradesh's Datia district on Wednesday, state Home Minister Narottam Mishra said.

The accident took place in the wee hours near Buhara village in Datia district when some people from Gwalior were going to Jatara in Tikamgarh district for a marriage ceremony, Mishra told reporters.

The merger of HDFC into HDFC Bank will be effective July 1, its chairman Deepak Parekh said in a press conference on Tuesday. The boards of HDFC Bank and HDFC will meet on June 30 after the market hours to clear and approve the merger, he said.

HDFC shares delisting will be effective on July 13, said HDFC's Vice-Chairman and Chief Executive Officer (CEO) Keki Mistry.

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