What happened in June 1st week in Business, Industries, Economy, Market, Tech and Innovation.
1. Tesla in India
According to report Tesla (electric vehicle company) start testing Model 3 EVs in India by July August. The company plans to set up showrooms in 3-4 cities including Delhi, Bengaluru and Mumbai.
2. Hackers attack on SpaceX and Tesla CEO
On 6th June, 2021 Elon Musk targeted by hacker group claimed that musk is hurting middle working class people by controlling and trolling cryptocurrency.
Flipkart plans to raises $3 billion from investors including SoftBank Group (Japanese MNC) and others leaders in wealth funds. In talks Softbank Group corp. with Flipkart to invest $700 million.
4. Wipro hits $3 Trillion
Wipro am Indian Tech MNC, hits $3 trillion market cap. for the first time on Thursday 3 June. Total 13 Indian companies achieved this milestone before, TCS and Infosys are two IT companies achieved this earlier Wipro.
1. RBI on Cryptocurrency
Good news for crypto investors in India after critical market situation, Reserve Bank of India clarified the stand with old circular aside by supreme court of India on Crypto.
2. Nifty Hits High
National Stock Exchange (NSE) indices Nifty hits its all time high 15,800 in June 1st week.
1. India Power consumption grows 12.6% in June 1st Week
India’s power demand increases in the 1st week of June at 168.72 GW. Last year in June 1st week the power consumption was recorded at 22.53 BU, and in 2021 its increases 12.6% to 25.36 billion units. The power consumption growth increases when the summer season is on peak and slowed in winters.
2. Coronavirus 2nd Wave in India
In the beginning of June 1st week corona 2nd wave impact is reducing, with lowest cases and least deaths.
On 7th June, PM Modi announces free vaccines to all from June 21 at govt hospitals, and free ration to 80 Crore people till Deepawali.
1. Upcoming IPOs in June 2021 –
- Sona BLW Precision Forgings – an automotive technology company
- Navoday Enterprises – Marketing, Advertising, management and financial consultancy, component supply, and manufacturers of allied machines.
- Shyam Metalics – Steel Manufacturing Company
2. AMC Share Price Surges
AMC Cinema largest movie theatre in the world, surge in share price on Wednesday 2 June, the AMC Entertainment stock surges up to 100% in one day at the end of the day the stock price was $62.55. The company promised to give free popcorn to their small investors.
Tech and Innovation
1. Microsoft Windows
The tech giant Microsoft plan to announce next generation windows operating system with minor changes.
2. Juhi Chawla on 5G in India
Indian actress Juhi Chawla file against implementing of 5G in India because of RF radiation which may be harmful to humans and animals. HC imposes 20 lakh fine on actress meant for publicity.