News Overview

Wistron, like Pegatron and Foxconn, is a Taiwanese contract manufacturer for Apple. Tata Group purchased its local business for $125 Million (₹1,000 Crore) in November last year, making it the first Indian company to produce iPhones.

This week, start-ups raised $152 Million led by Ola Electric, SingleInterface, Namdev Finvest, Innoviti, Scrut, Nivara.

In India, petrol and diesel pricing is influenced by factors such as freight charges, value-added tax (VAT), and local taxes.

Spot gold touched a record high of $2,353.79 on Monday; it was up 0.1% at $2,340.09 per ounce.

Brent crude futures had increased by 40 cents to $90.78 per barrel. At $86.78, U.S. West Texas Intermediate (WTI) crude saw a 35-cent increase.

The dollar gained 0.03% to 151.87 yen, staying close to the 34-year peak of 151.975 yen reached last month as jawboning efforts by Japanese officials to support the currency increased.

On Monday, the rupee finished steady at 83.31 versus the US dollar, as bullish local stocks were offset by the strength of the American currency in the offshore market.

In the quarter ending March FY24, the bank reported a total business of ₹4.50 Lakh Crore, marking a 9.62% rise compared to the corresponding period in the previous year, with total advances jumping 15.92% year on year to ₹1.87 Lakh Crore and deposits climbing 5.53% to ₹2.63 Lakh Crore.

Axis Bank shares have increased by 43% over the previous five years, outperforming the benchmark Sensex's 93% increase and the BSE Bankex index's 64% increase.

The current IPO blueprint comprises a new equity offering amounting to ₹1,000 Crore alongside a ₹4,000 Crore offer for sale. Within the offer for sale (OFS), the promoter BCP Topco VII Pte is set to divest its stake.