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The Cardano Chang hard fork has finally begun. Chang will introduce decentralised governance to Cardano. The hard fork ushers Cardano into the Voltaire era. It will transfer control of the $14 billion blockchain to ADA holders and will happen once at least 70% of all SPOs have upgraded to the new node.

Income Tax Department has clarified that cost of acquisition for properties bought before 2001 will be the fair market value as of April 1, 2001, or the original purchase cost for calculating long-term capital gains (LTCG) tax. The fair market value should not exceed stamp duty value, it added. The Union Budget removed indexation benefit for properties purchased after 2001.

Sensex gained around 1,300 points and Nifty hit record high on Friday after falling for five consecutive sessions. Benchmark indices gained as a result of investors buying the dip after the Union Budget, combined with a rally in IT and metal stocks. A rise in index heavyweights like Reliance Industries, Wipro, and Bharti Airtel also helped lift the indices higher.

India's top five IT companies will hire as many as 88,000 freshers in the current financial year. Tata Consultancy Services has announced plans to hire 40,000 employees, whereas HCLTech and Wipro said they will hire 10,000 and 10,000-12,000 freshers, respectively. Some IT companies hired fewer freshers last fiscal year and delayed fresher onboarding after their clients cut back on spending.

The festive season in India, starting around Ganesh Chaturthi is a big season for sales. Indian online shopping habits are evolving, with a significant rise in demand for same-day and next-day deliveries, especially for non-essentials. And this is leading to a very busy season for logistics.

Sanam Kapoor, an average Indian guy with a stable job at HCL, dreamed of owning a business. In the early 2010s, he quit his job and opened La Pino'z, a pizzeria in Chandigarh. Competing with giants like Domino's, he introduced single-slice pizzas and customized flavours for local tastes. La Pino'z now owns over 500 outlets and is expanding globally.

WayCool Foods, a Chennai-based startup, has laid off over 200 employees after failing to secure funds. Previously, it laid off over 300 employees in July last year and 70 in February. The company has delayed salaries and stopped vendor payments due to stuck client collections. Despite raising 75% of a $40 million bridge round, losses increased by 89% in FY23.

Radhika Gupta, CEO of Edelweiss Mutual Fund, warned on X about young people funding lavish lifestyles through risky trading. She cited the Economic Survey 2023-24, noting a rise in retail investors to 9.2 crore, up from 2.7 crore in FY19. Young investors in derivatives face high risks, which could harm the economy if significant losses occur.

Google has partnered with Bengaluru-based EV startup ElectricPe. The partnership aims to integrate EV charging station information into Google Maps, providing users with real-time availability and status of EV charging points. The integration will reduce range anxiety among EV users by allowing them to plan their journeys better.

Texmaco Rail & Engineering said it will acquire Jindal Rail Infrastructure from its existing security holders for a total consideration of around ₹615 crore. The acquisition will involve purchasing securities from JRIL's existing security holders, namely JITF Urban Infrastructure Service (JUISL) and Siddeshwari Tradex (STPL).

GMR Airports Infrastructure has finalised its merger with GMR Airports and GMR Infra Developers. This strategic move simplifies GIL's corporate structure and enhances its position in the aviation sector as a pure-play airport company. "We will capitalise on synergies, innovate in service delivery, and maintain our leadership position in the airport business," GM Rao, Group Chairman, said.

Union minister for road transport and highways Nitin Gadkari stated that 74% of the work on the ₹12,000 crore Chardham road project has been completed. Of the 825 km length, 616 km has been completed he revealed in a written reply in Rajya Sabha. The Chardham project involves improvement of 5 national highways connecting Chardham, Yamunotri, Gangotri, Kedarnath and Badrinath.

Finance Minister Nirmala Sitharaman has said that PM Narendra Modi wanted that the Budget should be "simple" and there should be no "fine print". She also recalled how the Budgets used to be "so complex" and how late lawyer Nani Palkhivala would do sessions to explain them. She added that Palkhivala's sessions were called the "budget of the people".

Finance Minister Nirmala Sitharaman, in her 2024-25 Budget speech, announced 12 new industrial parks under the National Industrial Corridor Development Programme to boost India's manufacturing sector. According to industry experts, these parks, featuring "plug and play" facilities, will improve connectivity, reduce logistics costs, enhancing industrial growth and business ease across the country.

Shares of Motilal Oswal Financial Services Ltd gained up to 5% following a strong Q1 performance. The company's revenue increased 54% YoY to ₹2,312 crore, while net profit surged 67% YoY to ₹884 crore. Quarter-on-quarter, revenue rose 7% and net profit grew 22%. Motilal Oswal Financial Services Limited is a financial services firm headquartered in India that uses integrated technologies.

LinkedIn co-founder Reid Hoffman predicts that traditional 9-5 jobs will vanish by 2034, replaced by the gig economy due to AI's transformative impact. Hoffman envisions workers engaging in flexible, contract-based employment across multiple sectors. The shift will demand adaptation to new employment models, with freelancers potentially earning more than permanent employees.

India's foreign exchange reserves hit record high of $670.86 billion for the week ended July 19, data released by the RBI showed. The reserves jumped by $4 billion during the week, marking the third straight weekly increase. Foreign currency assets, which include the effect of appreciation or depreciation of non-US units like euro, pound and yen, rose by $2.57 billion.

Markets regulator SEBI has barred fugitive businessman Vijay Mallya from accessing the securities market for 3 years. The decision comes after the SEBI found that Mallya was indirectly trading in shares of his own group companies. Mallya carried out layered transactions through his overseas companies to keep his identity masked and traded in securities market, defying regulatory norms, SEBI said.

Sobha Limited fell up to 4% after Anamudi Real Estate LLP, owned by Godrej Group, announced plans to sell 5% of its equity stake. Anamudi currently holds 9.99% of Sobha Limited and intends to offload 47.4 lakh shares, valued at ₹865 crore. Sobha builds, develops, sells, manages, and operates townships, housing complexes, and commercial properties, among other things.

Both Sensex and Nifty closed over 1.6% higher on Friday with the former snapping a four-day losing streak. Sensex rose 1,292 points to close at 81,332.71 and Nifty ended at 24,834.85 after hitting lifetime high of 24,861.15. Bharti Airtel, Adani Ports and SEZ, Sun Pharmaceutical and Tata Steel were top Sensex gainers. Shriram Finance and Cipla were top Nifty gainers.

Kotak Mahindra AMC MD Nilesh Shah urged Finance Minister Nirmala Sitharaman to stay vigilant of any rise in India’s gold imports after Union Budget announced a cut in import duty on gold. “With the [cut], gold imports will rise...It shouldn’t happen that our gold imports start exceeding our oil imports,” Shah said. “We’re importing about $35-40 billion gold,” he added.

Paytm has received the government's approval for its ₹50-crore investment in its subsidiary Paytm Payment Services, Financial Services Secretary Vivek Joshi told Reuters. The investment will allow the subsidiary to resume business operations and Paytm can now approach RBI to seek a payment aggregator license. Following the news, shares of Paytm rose 10% to hit upper circuit at ₹508.85/share.

Ex-PepsiCo VP Richard Montañez, who had worked as a janitor at Frito-Lay (now owned by PepsiCo), sued the company claiming he invented Flamin' Hot Cheetos. The lawsuit seeks damages, restitution and an order preventing firms from claiming Montañez didn't create Flamin' Hot Cheetos. The firms' smear campaign took toll on Montañez's career as an inspirational speaker, the suit further claims.

Net profit of InterGlobe Aviation, the operator of low-cost airline IndiGo, fell 11.7% year-on-year to ₹2,728 crore for the quarter ended June 30 for the financial year 2024-25. This mainly happened after a 22.7% rise in the aircraft fuel expenses. Net profit in the year-ago period stood at ₹3,090 crore. Revenue from operations for IndiGo rose 17.3% to ₹19,570 crore.