Here is a collection of the most important stories this evening:
IT stocks soar over three sessions, large-caps remain the darlings
The Nifty IT index has been soaring over the past three trading sessions. It gained 1 percent on February 14, about 1.13 percent on February 15 and 1.71 percent on February 16, with all stocks fuelling the benchmark index higher. More here.
Adani Power to scrap $ 850 million coal plant purchase
The Adani Group company and DB Power Ltd mutually agreed not to proceed with the transaction after a long-stop date expired on Wednesday. DB Power operates a 1.2-gigawatt coal power project in the Indian state of Chhattisgarh. More here.
After Air India, Akasa set to place large aircraft order in 2023: Report
Days after Air India placed one of the largest aircraft orders in the aviation industry, Akasa Air is set to place a “substantially” large order this year to expand its fleet. More here.
How Air India’s plans to dominate aviation starts with its order of 470 jets
In its latest move to lift Air India off the ground, the Tata Group last week signed agreements for two orders for around 470 aircraft with both Boeing and Airbus as it moves towards restoring the glory days of the airline. More here.
Byju’s in funding talks with TPG, sovereign funds as debt weighs
Byju’s is in negotiations with investors including TPG to raise more than $ 500 million, a much-needed capital infusion that could help the world’s most valuable edtech startup stave off potential debt issues. More here.
CCI hits refresh, reboots for new-age economy
Nearly 20 years since it was established, the CCI is going through what could be a transformative phase. The thinking in the government is that the CCI needs to enable ease of doing business. More here.
Bitcoin jumps over 10% to surge past $ 24,000, highest since August
A rally is being seen in the cryptocurrency market, with Bitcoin leading the charts with a surge of over 10 percent in its value this week. The price of Bitcoin has soared past $ 24,000, which is the highest since August last year. More here.
