A Tesla Model 3 exploded in an underground residential garage in Shanghai, due to impact to the underside of the car. No injuries occurred during the incident. The battery of the car was damaged in the impact. It was not yet clear whether the affected vehicle was imported or locally manufactured. Contemporary Amperex Technology (CATL) said it did not make the battery for the vehicle in question.

Laurus Labs Limited acquired 72.55% stake in Richcore Lifesciences, a biotechnology company. The company revealed on November 25, 2020, regarding the signing of definitive agreements with the Sellers i.e. Eight Roads Ventures and VenturEast Proactive Fund and VenturEast Life Fund III etc., to acquire 72.55% stake in Richcore Lifesciences Private Limited.

India's Bharat Biotech has applied to conduct trials in Bangladesh for its coronavirus vaccine after receiving approval for emergency use at home. If they receive the green signal, it would be the first trial of any coronavirus vaccine in Bangladesh and could give the densely-populated country of more than 160 million faster access to the shot for mass use.

Furlenco raised INR 20 Cr in a venture debt funding round from Blacksoil Capital. Founded in 2012 by Ajith Mohan Karimpana, Furlenco operates as a furniture subscription platform. To date, the company claims to have covered over 150K homes across eight major cities in India with AUM over Rs 200 crore. Their furniture is delivered free of cost at one’s doorstep within 72 hours.

The Sensex just took 208 days to rally from 25K to 50K. The 30-pack index, at last, broke the 50,000 level on Thursday, riding on hopes of the economy recovering from the pandemic blow and huge dollars flowing into domestic equities. At a record high of 50,126.73, the BSE benchmark was up 95 per cent over its 52-week low of 25,639 it hit on March 24, 2020.

Tanla Platforms Limited and Microsoft on Wednesday reported the introduction of Wisely, a blockchain-enabled communications platform-as-a-service solution built on Microsoft Azure. The edge-to-edge global blockchain network for omnichannel communication offers private, secure, and trusted experiences. Microsoft is the development partner architecting and developing this product for Tanla.

China’s three largest telecommunication companies- China Mobile, China Unicom (Hong Kong) and China Telecom Corp. have separately filed a written request with the New York Stock Exchange to reverse its ‘determination to re-commence delisting proceedings of ADSs’. The telecom companies further expressed that they were in conformity with the laws and regulations of the U.S.

The robust demand during the post lockdown period has led tyremaker Ceat to hike its capital expenditure (capex) for the coming fiscal year by 40% to Rs 700 crore. Ceat has inventory levels of less than 1 month despite all its plants running at full capacity. It will use the increase in capex to add more capacity at its factories and address the sustained surge in demand.

Phillips Carbon Black Limited registered a high consolidated profit of80% YoY at Rs125.03cr in Q3FY21 against Rs69.62cr in Q3FY20. The company’s revenue stood at Rs769.4cr against Rs768.85cr YoY. In reaction to the attractive Q3 figure, the company's stock hit a new 52-week high of Rs199.80 per piece in early deals after opening at Rs198.00.

HDFC Ltd has signed an agreement to sell its 24.48% stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 232.81 crore. The mortgage lender has today entered into a share purchase agreement for the sale of 47,75,241 equity shares of Re 1 each, representing 24.48% of the issued and paid-up share capital of Good Host.

India is looking to push through an independent investment deal alongside its trade agreement with the European Union (EU) in a bid to renew bilateral ties. I The country's bilateral trade and investment agreement (BTIA) with the bloc was suspended in 2013. India wants the investment deal to “happen parallelly and independently.” They would focus on investments, technology, and capital flows.

Airtel Payments Bank launched 'Airtel Safe Pay', a mode of safe digital transactions to protect customers from online frauds. When customers transact through UPI or net-banking using the Airtel Payments Bank, Airtel Safe Pay is an additional wall that will prevent online frauds. It will offer protection against phishing, stolen credentials or passwords, and phone cloning.

Havells India Ltd registered sharply higher net profit at Rs349cr in Q3FY21 against Rs199cr in Q3FY20, a growth of 75% YoY. The company's revenue climbed 39% to Rs3,166cr from Rs2,270cr yoy. The enormous profit was on the back of strong growth in its top line, led by electrical consumer durables and switchgear business. The company stock touched a new 52-week high of Rs1085.85 on Thursday.

State Bank of India (SBI) on Wednesday reported the commencement of two inter-bank short term money market deal with pricing linked to SOFR (Secured Overnight Financing Rate). SOFR is an identified replacement for USD LIBOR which is expected to be phased out at the end of 2021. The Inter-Bank money market transaction was executed by SBI through its Hong Kong branch.

Facebook plans to launch aggressive ad campaigns and interactions with users and government stakeholders over the next few months to “allay fears” over its intended privacy policy changes. They would clarify that the updated policy would be applicable to interactions with 19 million business account users of WhatsApp and that these messages can be “leveraged for business purpose”.