The Adani Group has rejected claims by US-based Hindenburg Research that Swiss authorities have frozen over $310 million in funds linked to the company. Hindenburg cited local reports alleging that the funds, connected to a money laundering and securities investigation, were sequestered in six Swiss banks. However, Adani Group refuted the claims, stating they have no involvement in Swiss court proceedings and none of their accounts have been frozen. The company termed the allegations as baseless, reiterating their commitment to transparency and compliance.

Swiss authorities have frozen more than $310 million across six Swiss bank accounts as part of a money laundering and securities investigation related to the Adani Group, according to reports. The investigation, which dates back to 2021, was revealed by Swiss media outlet Gotham City and later cited by Hindenburg Research. The funds are linked to an alleged front man for Gautam Adani, and the Swiss Attorney General's office has taken over the investigation. This comes after earlier accusations by Hindenburg Research against Adani for stock manipulation and financial misconduct.

The Indian stock market witnessed a significant surge, with the Sensex and Nifty indices rising by 1,439.55 points and 470.45 points respectively. This added Rs 5.14 lakh crore to the market capitalization of BSE-listed companies, reaching Rs 465.9 lakh crore. The rally was driven by global market gains and expectations of increased foreign investment in domestic stocks. The US inflation data release also boosted anticipation of a 25 basis point rate cut by the Federal Reserve, with the probability increasing to 85%. The market's sudden jump has boosted investor confidence.

Prime Minister Narendra Modi promoted India's growing semiconductor industry at the 'Semicon India' event, saying it's the "right time" to invest in the country. He set a target of increasing the electronics sector from $150 billion to $500 billion by 2030, creating 6 million jobs for youth. Modi's pitch emphasized India's potential, saying "when the chips are down, you can bet on India." The government aims to ramp up production and establish India as a key player in the global electronics market.

Israel is set to make a major investment in India's semiconductor sector, according to Reuven Azar, the Israeli Ambassador to India. He hinted at significant developments in the coming days, stating that private Israeli companies are driving the initiative. While details remain confidential, Tower Semiconductor is rumored to be a potential investor. This follows India’s recent semiconductor ecosystem partnership with Singapore. The India Semiconductor Mission, launched in 2021, aims to strengthen chip manufacturing in the country with a ₹76,000 crore incentive scheme.

Bengaluru-based space tech startup Pixxel has secured a major contract with NASA, becoming the first Indian company to be part of NASA’s $476 million Commercial SmallSat Data Acquisition Program. The contract, valid until November 2028, involves Pixxel supplying hyperspectral earth observation data to NASA, the US government, and academic partners. This data will aid research on climate change, agriculture, and resource management. Co-founder Awais Ahmed called the deal “a monumental achievement,” highlighting its potential to advance space-based environmental monitoring. Pixxel plans to launch its Fireflies satellite constellation to provide high-resolution hyperspectral imaging.

Emami Ltd. has acquired The Man Company, a premium men's grooming brand, for ₹400 crores. Actor Ayushmann Khurrana, an angel investor in the company, has earned a 400% return on his investment made six years ago. The acquisition marks a significant milestone in India's growing male grooming market. Khurrana's investment has paid off substantially, demonstrating his savvy business move. The deal underscores the increasing importance of the men's grooming sector in India, with Emami Ltd. expanding its presence in the market.

The Bombay Stock Exchange (BSE) Sensex plummeted 1,070.69 points to 81,130.47, while the National Stock Exchange (NSE) Nifty50 fell 314.10 points to 24,831. The market capitalization of BSE-listed companies lost approximately Rs 5 lakh crore. The decline is attributed to investor caution ahead of US jobs data, which may influence global interest rates. The broader market indices, including small and midcap stocks, also experienced significant losses, with volatility rising over 8%. The downturn marks a significant shift in market sentiment, with investors awaiting key economic indicators. 

Vistara will cease operations on November 12, 2024, following its merger with Air India. This comes after Singapore Airlines received clearance to hold a 25.1% stake in the newly merged entity. Vistara's last flight is scheduled for November 11, 2024. Bookings for flights beyond this date will shift to Air India’s website starting September 3. Vistara’s loyalty program, Club Vistara, will merge with Air India’s Flying Returns. The aircraft, crew, and routes will gradually transition under the Air India brand, though service changes are anticipated during the rebranding process.

Vistara will cease operations on November 11, 2024, as it merges with Tata group’s Air India. Bookings for Vistara flights on or after November 12 will be redirected to Air India, and all Vistara aircraft will be operated by Air India. The merger follows the Indian government’s approval of Singapore Airlines' ₹2,059 crore investment in Air India, which now holds 25.1% stake in the merged airline. This consolidation is part of Air India’s transformation program, Vihaan.AI, aiming to create a globally competitive airline with both full-service and low-cost operations.