Despite expectations, Elon Musk's Tesla refrains from unveiling investment plans in India at the Vibrant Gujarat Global Summit. Gujarat's Managing Director, Rahul Gupta, asserts the government's readiness to support Tesla but emphasizes investment remains the company's decision. Gujarat maintains its appeal as a top choice for electric vehicle investments. Talks initiated during PM Modi's US visit in June 2023 continue, with Tesla exploring a potential $2 billion investment in an Indian EV factory. However, the company seeks concessions on import duties for initial years. The decision prolongs anticipation for Tesla's entry into the Indian market.

Sony is reportedly set to cancel the $10 billion merger with Zee Entertainment in a disagreement over leadership, as per Bloomberg News. The termination notice is expected before the extended January 20 deadline. Discussions between Sony and Zee continue. The merger, combining Zee and Sony's TV channels, streaming platforms, and film assets, faced delays after India's regulator barred Zee CEO Punit Goenka from directorships in August. While an Indian tribunal lifted the ban in October, Sony has purportedly pushed for N.P. Singh to lead the merged company, challenging Goenka's candidacy. Zee and Sony are yet to comment on the situation.

Thefts of certain Hyundai and Kia models have skyrocketed by 1,000% in the past three years, spurred by social media posts revealing theft techniques. Data from the Highway Loss Data Institute reveals theft insurance claims for these vehicles surged over 1000% from H1 2020 to H1 2023. In the latter period, Hyundai and Kia thefts were over seven times higher than other manufacturers. Older models, especially those made between 2015 to 2019, lacking advanced anti-theft tech, are most vulnerable. A $200 million settlement was reached earlier this year with Hyundai and Kia for vehicle owners, including anti-theft software installation.            

Carrefour, a major supermarket chain spanning France, Spain, Italy, and Belgium, is refusing to sell PepsiCo products, including Pepsi, 7up, Cheetos, and Lay's crisps, in over 9,000 stores. The move is attributed to what Carrefour deems "unacceptable price increases" by PepsiCo. This escalation follows the broader trend of strained relations between European supermarkets and suppliers amid rising costs post-Russia's war with Ukraine. Grocery inflation, particularly pronounced in France, has led to attempts to negotiate with brands. PepsiCo, raising its 2023 profit forecast thrice, pledges ongoing discussions with Carrefour to ensure product availability.

Indian billionaire Gautam Adani is once again Asia's wealthiest person after his net worth rose $7.7 billion in a day to $97.6 billion. This comes on the heels of India's Supreme Court ruling that no further probes are needed into fraud allegations against Adani's conglomerate. Adani reclaimed the top spot from rival Mukesh Ambani, whose net worth stands at $97 billion. Adani saw over $150 billion in market value losses last year due to the fraud claims, but has rebounded thanks to the court verdict which boosted his company's stock prices. The tycoon is diversifying into data centers, AI, urban development and more.

The Indian rupee is expected to gain value against the U.S. dollar over the next 12 months, according to investment bank Goldman Sachs. This is because more foreign money is likely to flow into India. However, the Reserve Bank of India may try to limit the rupee's rise as it targets to keep building up India's foreign currency reserves. Goldman Sachs believes the rupee could reach 81 rupees per dollar within a year. Equity portfolio flows into India will be "robust" as the Federal Reserve starts its interest rate easing cycle in 2024, while debt inflows will be strong following India's inclusion in JPMorgan's global bond indexes, Goldman Sachs added. On Tuesday, the rupee was 83.3 per dollar, after barely losing value last year. 

Adani Group stocks, including Adani Enterprises and Adani Power, soared up to 16% as the Supreme Court supported SEBI's investigation into Hindenburg allegations. The court emphasized SEBI's jurisdiction in the matter and directed completion of the probe within three months. The verdict positively impacted Adani's market cap, crossing Rs 15 lakh crore. Since Hindenburg's report in January 2023, Adani stocks faced fluctuations, but recent developments, including investments by GQG Partners, contributed to the recovery. The court also dismissed calls to revoke SEBI's regulatory amendments, boosting confidence in Adani Group shares.

The Supreme Court has said no to moving the Adani-Hindenburg case from SEBI to a Special Investigation Team (SIT). The court stated that doubts raised by reports can't undermine SEBI's findings. Justices emphasized SEBI's limited regulatory role, rejecting claims of flaws in Foreign Portfolio Investors (FPI) and Listing Obligations and Disclosure Requirements (LODR) regulations. SEBI must wrap up the investigation in the remaining two cases in three months, as assured by the Solicitor General. The court also warned against filing Public Interest Litigations (PILs) without proper research, while suggesting the government and SEBI consider the Hindenburg report for any legal breaches.

The Supreme Court is poised to announce its judgment on the Adani-Hindenburg case, addressing allegations of stock price manipulation against the Adani group. The bench, led by Chief Justice DY Chandrachud, will deliver the verdict at 10:30 am today on petitions seeking a probe into the matter. The case unfolded after US-based short seller Hindenburg Research accused Adani companies of stock manipulation in January last year. The timeline showcases a series of events, including the Securities and Exchange Board of India's involvement and the formation of a committee to investigate the allegations. The decision carries significance for market integrity and investor protection.

Tata Consultancy Services (TCS) is under scrutiny as the Maharashtra government's labor ministry investigates complaints of TCS halting the salaries of approximately 900 employees and allegedly imposing "forced transfers" on 2000 workers. The IT employees union, Nascent Information Technology Employees Senate (NITES), filed the complaint, citing insufficient notice for relocations causing hardship. TCS faces accusations of threatening disciplinary action against non-compliant employees. The company's move to stop salaries for objecting workers has drawn criticism, leading to a joint meeting with the labor department scheduled for January 18.