The Indian stock market witnessed a positive trend on Wednesday, August 28, with the Nifty 50 index hitting a fresh record high of 25,129.60. This marked the 10th consecutive day of gains for the benchmark index, demonstrating sustained market optimism.
Meanwhile, the Competition Commission of India (CCI) greenlit the ₹ 70,350 crore merger between Reliance Industries and Disney’s Indian media assets. This $8.5 billion deal, contingent upon specific voluntary modifications, signals a significant shift in the media landscape.
On the other hand, the Enforcement Directorate (ED) imposed a ₹ 900 crore fine on DMK MP Jagathrakshakan and his family in a FEMA case. The agency confiscated assets worth ₹ 89 crore, alleging violations of foreign exchange rules.
The Indian government, under Prime Minister Narendra Modi, approved the development of 12 industrial smart cities across the country under the National Industrial Corridor Development Programme (NIDCP). The Cabinet allocated ₹ 28,602 crore for this project, aiming to boost industrial growth and create new economic opportunities.
Zomato introduced a new feature, ‘Zomato for Enterprise’ (ZFE), specifically designed to cater to corporate food orders. This initiative allows companies to simplify food expense management and streamline the reimbursement process for employees.
Following the tragic rape and murder of a trainee doctor at Kolkata’s RG Kar Medical College and Hospital, President Droupadi Murmu expressed her concern and dismay. She highlighted the pervasive issue of sexual violence, drawing attention to the countless cases that often go unnoticed. President Murmu emphasized that society’s collective amnesia regarding such incidents is unacceptable.
Adani Enterprises Limited launched a public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs) valued at ₹ 1,000 each. This public offering aims to raise ₹ 400 crore initially, with a green shoe option to potentially increase the total issue size to ₹ 800 crore.
