GQG Partners' Rajiv Jain raises Adani stake by about 10% for $3.5 billion bet

Veteran investor Rajiv Jain’s GQG Partners LLC has raised its stake in billionaire Gautam Adani’s conglomerate by about 10 percent and will take part in its future fund-raising, doubling down on what he calls “the best infrastructure assets available in India.” Read more here. 

Take a look at these key events

Today
Kharge calls crucial party meeting before polls in five states
US Federal Reserve to release minutes
Assam, Meghalaya CMs to discuss border row
President Murmu on three-day visit to Jharkhand from today
Stakeholder consultation for next phase of Delhi EV policy
IMD predicts rainfall in Delhi-NCR from today
IPL 2023: LSG vs MI
TomorrowWheat procurement in Punjab to end today
Kerala 12th results to be announced; MP 10th, 12th results to be announced
CUET UG 2023 exams begin today
Kerala to become a total e-governed state starting today
2 year death anniversary of George Floyd

Women take top 4 ranks in UPSC Civil Services Examination 2022

Ishita Kishore secured the first position in the exams. A graduate in Economics (Hons.) from Shri Ram College of Commerce, University of Delhi, she opted for Political Science and International Relations as her optional subject. Read more here. 

Simple One electric scooter launched at a starting price of Rs 1.45 lakh

Simple One is powered with 5 KWh smart battery management system, delivering a claimed range of 212 kms in Indian driving conditions (IDC) with 6 percent SOC left, making it the longest range electric two-wheeler in the domestic market. Read more here. 

Is your mutual fund justified for the expenses it charges you?

A recent SEBI consultation paper quotes an internal study it conducted, which showed a wide range of underperformances by mutual fund schemes versus their benchmarks. That’s what led SEBI to propose performance-linked fee. A Moneycontrol analysis made a similar finding. Just 47 percent of the schemes (regular plans) have outperformed their benchmark indices over the past 10 years. Read more here. 

Adobe adds generative AI features to Photoshop software

While programs such as OpenAI's Dall-E have captured the public imagination by transforming text prompts into images, they have not yet seen wide use by big corporations because of legal questions around the data used to develop the systems. Read more here. 

India surges as second-largest steel producer; Anand Mahindra celebrates in emotional tweet

Mahindra's tweet, prompted by data, resonated with the memories of his early career in the steel industry during the '80s, where he witnessed the unparalleled supremacy of Japanese steel manufacturers. At that time, they were considered untouchable in terms of scale and quality. Read more here.