IT services company HCLTech on Wednesday launched a new facility in Chennai for testing and validating 5G solutions provided by global telecom infrastructure original equipment manufacturers (OEMs).

The company said it is the first-such facility in India and is equipped with scanners that enable global OEMs to test large cellular base stations as well as antennas used in mobile phones, smart gadgets, health monitoring systems and remote surveillance systems.

Shares of Suzlon Energy soared 18 per cent to hit over five-year high of Rs 14.39 in Wednesday’s intra-day trade, amid heavy volumes. The stock of the country’s largest renewable energy solutions provider traded at its highest level since February 2018.

In comparison, the S&P BSE Sensex was up 0.24 per cent at 62,942 at 12:41 pm. A combined 1,121 million shares, which represented 11.1 per cent total equity of Suzlon Energy changed hands on the NSE and BSE.

The southwest monsoon is expected over the Kerala coast in the next 48 hours, said the India Meteorological Department (IMD) on Wednesday as Indians wait for the annual rains crucial to the economy.

The IMD’s forecast said that the latest meteorological features associated with monsoon onset over Kerala show that there is (a) persistence of westerly winds over south Arabian Sea; (b) increase in the depth of westerly winds up to middle tropospheric levels.

Shares of Tata Motors hit an over six-year high of Rs 563.55, on rallying 3.5 per cent on the BSE in Wednesday’s intra-day trade. The stock traded higher for the sixth straight day, surging 11 per cent during this period. The stock today hit its highest level since September 2016. It had hit a record high of Rs 612.05 in February 2015.

The sharp run-up in stock price of Tata Motors has seen its market capitalisation (including Tata Motors DVR) hit a record high and cross the Rs 2 trillion mark in intra-day today.

LinkedIn, the professional networking platform, said on Wednesday it will provide free ID verification for all users in India.

The verification will be carried out by HyperVerge, a third-party company that leverages DigiLocker, a digital wallet for government IDs including Aadhaar.

After a four-month suspension, Adani Group has revived its investment plan for India's largest polyvinyl chloride (PVC) plant, Mundra Petrochem Ltd, Mint reported on Wednesday. For this, it has received in-principle approval for a credit line of up to Rs 14,000 crore from several banks.

The project's total cost is expected to be around Rs 35,000 crore.

Bharti Airtel has won the cloud and content delivery network (CDN) mandate from the Digital India Corporation (DIC) for the DIKSHA (Digital Infrastructure for Knowledge Sharing) platform, which is the Centre's national platform for open education digital content.

DIC is under the aegis of the Ministry of Education (MoE), Government of India.

Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller.

In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another USD 700 million in loans taken for the acquisition of Ambuja Cement.

Aditya Birla Group on Tuesday announced its foray into the branded jewellery retail business with its new venture Novel Jewels Ltd. The company will invest Rs 5,000 crore to set up large-format exclusive jewellery retail stores with in-house jewellery brands across the country.

Aditya Birla Group's foray into branded jewellery retail marks a pivotal moment in our storied legacy of building businesses underpinned on trust.

The Centre has directed banks to make sure that all deposit accounts and safe deposit boxes have a nominee, said a report by The Economic Times (ET).

This comes as both the Reserve Bank of India (RBI) and the government are working to reduce unclaimed deposits with commercial banks totaling around Rs 50,000 crore.

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