Cabinet on Wednesday approved a revival plan for the state-run Bharat Sanchar Nigam Ltd (BSNL) worth Rs 89,047 crore. It includes an allotment of 4G/5G spectrum for BSNL through equity infusion.

With this, the authorized capital of BSNL will be increased from Rs 1.5 trillion to Rs 2.1 trillion.

More than 70 per cent of Indians are opting to deposit the recently withdrawn Rs 2,000 notes in bank accounts.

According to a Reuters report published Wednesday, people are choosing to deposit as opposed to exchanging the Rs 2,000 note for smaller denominations, which was recently withdrawn by the Reserve Bank of India (RBI).

Shares of Zen Technologies hit a new high of Rs 453.15, surging 10 per cent on the BSE in Thursday's intra-day trade, after the company said it has won order worth of Rs 202 from the Ministry of Defence, and foresees more orders in the near future.

Thus far in the calendar year 2023, the stock of India's leading anti-drone technology and defense training solutions provider has zoomed 146 per cent, as compared to less than 3.3 per cent rise in the S&P BSE Sensex.

Securities and Exchange Board of India (Sebi) is likely to change the rules to start tracking investments flowing into local private equity (PE) and venture capital (VC) funds, The Economic Times (ET) reports.

The market regulator is doing this to identify the investors and the source of the money. In addition, Sebi also wants to check if PE and VC funds, also known as alternative investment funds (AIFs), are being misused, the report said.

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.

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