Rakesh Jhunjhunwala-backed Akasa Air is all set to take its first flight before the startup has revealed the pictures of the cabin of its brand new planes. The airline has already announced 28 weekly direct flights. The flights will cover its newly launched sector between Bengaluru and Mumbai starting from August. The airline completed its inaugural phase of the network development, covering multiple cities like Ahmedabad, Kochi, Mumbai, and Bengaluru making, enabling it to have a total of 82 weekly flights at the start of its operations.

Based on the looks of it, Akasa's Boeing Boeing 737 Max will have three rows of seats in its cabin, covered with its signature colours. The plane is one of the big planes used by airlines for operations. The airline has already received two of its Boeing 737 Maxs at the Indira Gandhi International Airport in Delhi. The second one was delivered to the airline on July 26.

The government Wednesday cleared a Rs 1.64 lakh crore booster shot for state-owned loss-making telecom company Bharat Sanchar Nigam Ltd (BSNL), with an aim to upgrade the operator’s network to 4G while de-stressing its balance sheet. The four-year turnaround plan includes both a cash component and a non-cash component.

The package has three main focus areas. The government will focus on upgrading BSNL services, wherein the company will be administratively allocated spectrum in the 900 MHz and 1800 MHz frequencies at the cost of Rs 44,993 crore through equity infusion. The government will fund capital expenditure of Rs 22,471 crore for deployment of indigenous 4G stack by the operator, while also providing Rs 13,789 crore as viability gap funding for operating commercially unviable rural wireline operations done between FY15 and FY20.

Domestic stock markets have entered the last week of July, heading towards the monthly futures & options expiry. Analysts are expecting heightened volatility this week and the India VIX is not disappointing them. India VIX rose 5.5% on Monday to regain 17 levels after having plummeted below the same last week. S&P BSE Sensex was down nearly 400 points or 0.68% while NSE Nifty 50 was nearing 16,600. While bulls and bears expected to battle it out this week on Dalal Street, analysts at JM Financial have picked two Tata Group stocks — Tata Elxsi and Tata Consumer Products — projecting as much as 19% upside backed by fundamental and technical analysis.

HDFC Bank will be among the world’s top 10 most valuable banks after its merger with parent HDFC at current valuations. It will also be the first Indian bank to make it to the top 10 club.

HDFC Bank has a market capitalisation of about $108 billion. It has recently edged past Citigroup (over $100. 5 billion), which was at number 17. HDFC Bank is worth more than UBS and DBS Group (both valued at around $58 billion). The country’s largest lender SBI ($57 billion) is at number 32 ahead of BNP Paribas ($55 billion) in terms of valuation.

As reported by Money Control, Prashant Jain, India's longest-serving mutual-fund manager and has managed a mutual fund scheme since it began 28 years ago. Prashant Jain, chief investment officer of HDFC AMC has called it quits and has decided to move on.

He was overseeing total assets worth Rs 4.12 lakh crore as of June 30, 2022, and directly managing over Rs 1 lakh crore under four predominantly equity schemes.

Jain started his career with SBI Caps and then moved to 20th Century Mutual Fund. Century Mutual Fund was sold to Zurich Mutual Fund which was later acquired by HDFC Mutual Fund in 2003.