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Deloitte Clapped

Good Evening,

Indian equity market ended lower for the second consecutive session on August 11 amid selling across the sectors barring PSU banks. Fed seen pausing after tame CPI data, but mission not over. The restructure of the MSCI index might result in $1.4 billion in stock inflows. Funding remains the biggest risk to the merger, says HDFC Bank MD. Deloitte may step down as auditor of Adani Ports & SEZ ahead of the term.

Let's dive in.


  • Sensex falls 365 pts, Nifty below 19,450; Banks & financials top laggards

  • Fed seen pausing after tame CPI data

  • MSCI index rejig may result in $1.4b inflows into stocks

  • Deloitte planning to resign from Adani Ports

  • Zerodha gets final approval to launch mutual fund business

  • Chairman Sanjiv Puri charts ITC's course: Insights on hotel demerger and core biz at AGM

  • ITC hotels could take up to 15 months to get listed: Puri

  • Sebi comes out with a new timeline for exit option window period for change in control of AMC



Headline Roundup:

  • The private sector should also fund GPGs to aid inclusion: Shaktikanta Das

  • Managing global debt vulnerabilities remains a big concern, says Finance Minister

  • Parliament passes bills to levy 28% GST on online gaming

  • Paddy sowing up 5per cent so far; coverage still lags in Odisha, AP & Assam

  • India's forex reserves fall $2.41 billion to $601.453 billion as on August 4

  • India imported 141.93 lakh tonnes of edible oil during 2021-22 marketing year: Government

  • India's industrial output rises 3.7% in June, down from 5.3% in May

  • India's gross direct tax collection this FY24 till August 10 is up 15.7%

  • RBI Governor Das calls for IMF, WB to play a bigger role in helping countries dealing with debt


Deal Flow:

- M&A / Investments:

  • DLF teams up with Medanta owner to enter hospital space

  • Springwel eyes majority stake in VC-backed D2C mattress startup

  • ChrysCapital-controlled Xoriant acquires consulting firm Thoucentric

- IPO:

  • The listing of SBFC Finance shares on the BSE and NSE will take place on August 16

  • TVS Supply Chain Solutions IPO fully booked on 2nd day of bidding, records 55% booking on debut

  • TVS Supply Chain Solutions mobilises Rs 396 crore via anchor book ahead of IPO

  • Aeroflex Industries to launch IPO on August 21

  • Srivari Spices IPO subscribed 418.5 times on the final day, the highest subscription in 2023

- VC:

  • Zerodha to pump an additional $121 mn into startup fund

  • Picus Capital hires MPL exec as India's head, plans Asia expansion

  • Gulf Digest: Saudi companies Wadaie, Golden Scent, YaSchools raise funds

  • AI-based ed-tech platform raises early-stage funding

Tech / Startup:

  • Indian Govt Warns Google Chrome Users Of 'High-Risk' Vulnerabilities

  • Now, pay up to Rs 500 via UPI Lite without PIN; transaction limit up from Rs 200: RBI

  • The average cost of data breach in India touches high of Rs 17.9 crore in 2023: IBM study

  • Employees who left Nykaa were not in significant roles: CEO Falguni Nayar

  • Unacademy snaps up Aakash veteran Anurag Tiwari to head offline classes division



  • Stocks finished Friday's trading session in the green

  • Nasdaq 100, S&P 500, and the Dow Jones Industrial Average gained 0.18%, 0.03%, and 0.15% respectively

  • The Fed is expected to pause, but not pivot, after a tame inflation report

  • Deutsche Bank’s asset manager is targeting a Holy Grail of the world’s ultra-rich

  • Morgan Stanley hopes for a drama-free CEO handoff

  • Disney wants sports leagues as ESPN partners

  • Tech investors are wary of ‘new era’ of China investment restrictions

  • The US is set to crack down on real estate money laundering.


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