IndiGo, India's leading budget carrier, saw its shares soar to a record high, closing at Rs 3,806.85 apiece on Wednesday. With a 22% jump in the last month, the airline's market capitalization surpassed Rs 1,46,000 crore ($17.5 billion), making it the world's third-largest airline by market cap. InterGlobe Aviation, the operator of IndiGo, witnessed a remarkable rise, with shares almost doubling in the past year. The surge reflects investor confidence in the airline's performance and growth prospects, marking a significant milestone in the aviation industry.

Tesla CEO Elon Musk is set to visit India this month to meet Prime Minister Narendra Modi and disclose investment intentions, as per Reuters. Musk's agenda reportedly includes discussions on establishing a new factory, potentially valued at $2 billion. Talks suggest Tesla is seeking local partners, with Reliance Industries emerging as a contender. Maharashtra might be favored due to its port facilities for both domestic and export operations. This move marks a significant step for Tesla's expansion into the Indian market, potentially paving the way for increased electric vehicle adoption in the country.

Tesla is reportedly in early talks with Reliance Industries Limited (RIL) to set up a joint venture for building an electric vehicle (EV) manufacturing plant in India. The discussions, ongoing for over a month, aim to leverage RIL's capabilities without signaling its entry into the automobile sector. Tesla plans to invest $2 billion for its Indian ventures, eyeing locations like Gujarat and Maharashtra for the manufacturing site, with Maharashtra possibly leading due to its port infrastructure. However, no final decision has been reached yet.

Apple significantly ramps up iPhone production in India, assembling $14 billion worth of devices in fiscal 2024. Approximately 1 in 7 iPhones is now made in India, with major Taiwanese manufacturers Foxconn and Pegatron playing key roles. Foxconn leads with 67% of India-made iPhones, while Pegatron contributes 17%. Remaining devices produced at Wistron's Karnataka plant, now under Tata Group. Apple aims to diversify supply chain amid China tensions. Pegatron in talks to transfer Chennai facility control to Tata. Tata constructing new plant in Hosur, Tamil Nadu. Apple yet to comment on Bloomberg report.

Surinder Chawla, the Managing Director and CEO of Paytm Payments Bank Limited (PPBL), has tendered his resignation, according to a stock exchange filing by Paytm. The resignation, attributed to "personal reasons," was announced by PPBL. Chawla's departure comes amidst regulatory scrutiny, with the RBI barring Paytm Payments Bank from onboarding new customers earlier this year due to compliance issues. Paytm stated that Chawla will be relieved from his position by June 26, 2024, unless otherwise mutually agreed upon. The company expressed gratitude for his contributions and wished him success in his future endeavors.

Ride-hailing giant Ola announces the cessation of operations in the UK, Australia, and New Zealand to concentrate on its India business. Promoter ANI Technologies cites rapid growth and profitability in India, emphasizing the country's potential for electric mobility expansion. The decision reflects a strategic reassessment, aligning with Ola's mission to serve India's billion-strong population. Despite a narrowing consolidated net loss in FY23, Ola remains optimistic about leading India's mobility ambitions with technology-driven innovation, aiming for continued industry growth.      

In a historic milestone, the BSE Sensex breaches the 75,000-mark for the first time ever, climbing 381.78 points to hit an all-time peak of 75,124.28. Simultaneously, the NSE Nifty advances 99 points, reaching its record high of 22,765.30. The surge is fueled by buying in IT stocks, with major gainers including Infosys, Tech Mahindra, and Tata Consultancy Services. Despite laggards such as JSW Steel and Reliance Industries, the bullish trend persists. Global markets show mixed signals, while FIIs offload equities worth Rs 684.68 crore. Analysts anticipate continued outperformance of large caps amidst the bullish market undertone.

Maruti Suzuki launches its fiscal year with lucrative discounts of up to INR 1.5 lakhs on select Nexa range models including Baleno, Ignis, Ciaz, Grand Vitara, Fronx, and Jimny. Discounts vary by model with offers such as cash discounts, exchange bonuses, and corporate benefits. Notably, Baleno sees a cash discount of INR 35,000, while Ignis offers up to INR 58,000 off. Maruti aims to attract customers amidst the competitive automotive market, encouraging potential buyers to seize the opportunity by contacting their nearest dealer for specific offers and availability details.            

Tesla CEO Elon Musk announced plans for the introduction of electric vehicles (EVs) in India, following reports of land offers from Maharashtra, Gujarat, and Telangana for a manufacturing plant. With a potential investment between USD 2 to 3 billion, the plant aims to meet both domestic and international demand. India's new EV policy, requiring a minimum investment of ₹4150 crore and significant domestic value addition, aligns with Tesla's entry strategy. Union Minister Nitin Gadkari also expressed confidence in eliminating petrol and diesel cars, emphasizing India's transition towards sustainable transportation.            

Skoda Auto India is reintroducing its flagship sedan, the Superb, to the Indian market, priced at Rs 54 lakh (ex-showroom). Limited to 100 Fully Built Units (FBUs) in the Laurin & Klement trim, it boasts a powerful 2.0 TSI EVO turbo petrol engine and exclusive 7-speed DSG transmission. With 625 litres of boot space expandable to 1,760 litres, the Superb offers unmatched versatility. Features include a 26cm Virtual Cockpit, 23.36cm Columbus system with wireless charging, 12-way adjustable electric seats, and segment-exclusive Dynamic Chassis Control. Safety features include 9 airbags and Euro NCAP 5-star ratings.