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.

Shares of cement manufacturers were in focus in an otherwise subdued market, with a sector giant UltraTech Cement hitting a 52-week high, while Ambjua Cements surging 4 per cent on expectations of profitability likely to improve in fiscal 2024, owing to softening of coal and pet coke prices.

Among individual stocks, UltraTech Cement hit a 52-week high of Rs 8,049, up 2 per cent on the BSE in Tuesday’s intra-day trade. The stock surpassed its previous high of Rs 7,972.95, touched on May 30, 2023. It had hit a record high of Rs 8,267 on November 8, 2021.

On its 32nd Foundation Day, the Software Technology Parks of India (STPI) and the Ministry of Electronics and Information Technology (MeitY) held a conference on "Growth Avenues for the Indian IT Industry and Emerging Tech Ecosystem" in Delhi on Monday.

Speaking at the event, Alkesh Kumar Sharma, secretary, MeitY stated, "Today, the world is talking about digital transformation. India is moving from e-governance to digital governance, where each service has to be online."

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