News Digest

Ken Griffin's Citadel sheds over $4 billion of Situational Awareness' bets

Situational, an AI-focused ‌hedge fund run by former OpenAI researcher Aschenbrenner, sold the bulk of its stock bets to Citadel last month after heavy losses in its tech holdings forced it to unwind most of its public equities portfolio

India has political stability; world sees it as bright spot of growth, hope: PM Modi

The prime minister said the world has many concerns regarding growth as resources are getting weaponised, but India is being seen as a bright spot of growth.

Power Grid wins ₹823 crore annual tariff bid for Gujarat transmission project under TBCB

Shares of Power Grid Corporation of India Ltd ended at ₹272.30, up by ₹7.05, or 2.66%, on the BSE.

Govt. working on additional subsidy scheme for polysilicon manufacturing: Official

The MNRE Secretary stated that India would require 30 GW of polysilicon manufacturing capacity addition to secure its energy needs and ensure manufacturing resilience.

Top 10@10: ICICI, HDFC Bank’s dollar bond bets, mobile PLI 2.0 and sugar imports make news

Top 10@10 — CNBC-TV18’s daily newsletter featuring the top 10 stories on markets, corporate updates, economic insights, and financial highlights — delivered at 10 pm.

Apollo Micro Systems gets SEBI nod for 26% Premier Explosives open offer at ₹698/share

Apollo Micro Systems received SEBI letter on open offer for 26% of Premier Explosives shares at Rs 698 each. Tendering period starts after CCI approval.

India calls for stronger global tech collaboration at BRICS meet

Union Minister of State for Science and Technology Jitendra Singh says India has chosen ‘Building for Resilience, Innovation, Cooperation and Sustainability’ as the theme of its BRICS Presidency in 2026

India's downstream gas regulator approves LPG pipeline infrastructure worth $731 million

India's downstream petroleum and gas regulator said on Friday it has approved the laying of about 1,800 km of LPG pipeline infrastructure at an estimated investment of 70 billion rupees ($731.49 million).

Rapido-Backed Ownly Grabs 10% Of Bengaluru Food Delivery Market, Eyes Entry Into Other Cities

The company's average order value is currently around 60% of the industry average.

Indian payments firms raised $5.8 bn in last five years

Five biggest recipients — CRED and PhonePe, with roughly $1 billion each, Pine Labs with $641 million, Razorpay with $535 million and BharatPe with $440 million -- accounted for about 66% of disclosed capital raised

Skyways Air Services IPO: Rs 174 Crore Raised Via Anchor Book; GMP Spikes To Rs 50

The IPO will open on August 24 and close on August 27, with shares expected to list on September 1.

Govt notifies mobile phone manufacturing scheme; extra incentives for Indian brands

The scheme was approved by the Union Cabinet last month and builds on the PLI Scheme for Large Scale Electronics Manufacturing which ran from 2020 to the last financial year

AI will expand opportunity for Indian IT firms, but business models will have to evolve: Snowflake India MD

AI is reshaping India's IT services industry, pushing companies towards outcome-based engagements while opening new opportunities in data engineering, specialised skills and enterprise AI. Snowflake India MD Vijayant Rai says traditional system integrators can benefit as enterprises move AI from experimentation to production, but firms will need to adapt their business models and focus more closely on measurable business outcomes and ROI.

India Buys Its Most Expensive LNG In Years As War Upends Market

Those are the most expensive LNG cargoes imported into the India since 2022, according to the people who asked not be name because the deals aren't public.

India makes millions of phones. Now it wants to make more of what goes into them

India’s next mobile manufacturing push is about more than assembling phones. Industry leaders say local components, semiconductors, R&D and Indian brands will determine whether domestic value addition can rise to 35-40%.

PNGRB authorises about 1,800 km LPG pipeline infra with ₹7,000 crore capital investment

Cumulatively, the pipelines are expected to increase the country’s LPG pipeline network by about 24%

iPhone 18 Pro & More: Did Apple Accidentally Leak Over 10 Unannounced Devices In macOS 26.7 Code?

Apple has not confirmed the devices or their launch timelines. September 9 is currently being tipped for its next major iPhone event.

Symbiotec Pharmalab gets Rs 526 crore anchor backing ahead of IPO; Citi Group, Singularity among investors

Symbiotec Pharmalab has raised Rs 526.20 crore from anchor investors ahead of its Rs 1,757 crore IPO opening August 24. The pharmaceutical company has set a Rs 938-988 price band, with proceeds from the fresh issue earmarked for debt repayment.

Zydus secures U.S. FDA nod for scurvy injection generic

The product will be manufactured at the group’s injectable manufacturing plant in Jarod, near Vadodara and marketed in the US by Zydus Pharmaceuticals (USA) Inc

India's UPI story isn't over: Why credit and AI could drive the next phase of India's fintech boom

UPI still has room to grow despite its massive scale, but industry leaders say the bigger opportunity now lies in building credit, AI-powered lending and embedded finance on top of India's digital payment rails.

Robinhood, Coinbase, Other Crypto Stocks Rocket Up To 15% On Trump's Clarity Act Push

Bitcoin mining machine maker Canaan jumped 26.53%, while MARA Holdings also traded higher.

U.S. FDA flags Aurobindo arm’s Hyderabad plant

HomeFirst Finance is funding ESG-rated homes, hopes it will attract sustainable capital

HomeFirst Finance is extending its ESG push to individual homes, co-developing green certification standards with IFC and onboarding over 600 such homes to attract sustainable capital.

Why is Robinhood stock rising today? Trump’s crypto push sends HOOD up nearly 5%

Robinhood stock rises nearly 5% as Trump backs the Clarity Act, boosting hopes for clearer US crypto rules and stronger growth for HOOD.