Bengaluru

Bengaluru witnessed a day of subdued commercial activity on August 23 as markets and business establishments across several parts of the city remained closed. The shutdown, observed by traders and local associations, was called to press demands and highlight grievances impacting the business community. The closure disrupted retail and wholesale trade, affecting sectors ranging from groceries and textiles to electronics and daily essentials.

Wholesale and retail traders in Bengaluru faced uncertainty on Thursday as key commodity and agricultural market rates were not published, disrupting normal business activity. The absence of daily pricing updates affected buyers and sellers across essential goods, including grains, pulses, vegetables, and perishables, which rely heavily on accurate benchmark rates for fair trading. While market participants adapted through direct negotiations, the lack of standardized reference points created confusion in pricing.

Foxconn, the world’s largest contract electronics manufacturer, has officially initiated production of the iPhone 17 at its Bengaluru plant, marking a significant milestone in India’s smartphone manufacturing landscape. This move reinforces India’s role as a strategic hub for Apple’s global supply chain, supporting the government’s “Make in India” initiative. Analysts anticipate that the local production of the flagship device will not only reduce import dependency but also create substantial employment opportunities and boost ancillary industries.

Real estate developer Sumadhura Group has successfully leased out a key commercial property in Bengaluru, generating approximately Rs. 50 crore in revenue through the transaction. The move underscores the firm’s growing focus on monetizing prime assets within India’s high-demand tech corridors. As the commercial real estate market in Bengaluru continues to attract large-scale occupiers, Sumadhura’s latest lease deal highlights both the rising value of premium office space and the resilience of India’s urban commercial hubs.

IndiGo, India’s largest airline by market share, has officially commenced construction of its new Maintenance, Repair, and Overhaul (MRO) facility at Bengaluru’s Kempegowda International Airport. The project marks a significant step in the airline’s strategy to strengthen its operational efficiency and self-reliance in aircraft servicing. Spread across a sprawling 13-acre site, the facility is designed to handle multiple aircraft simultaneously and meet global maintenance standards.

Amid cautious optimism following its first-quarter earnings, Tata Consultancy Services (TCS) has signaled that employee salary increments are on the horizon, though precise timelines remain under discussion. India’s largest IT services firm, known for its disciplined cost management, is balancing employee aspirations with the need to safeguard margins in a challenging global demand environment. TCS’s chief human resources officer has assured that appraisals are being processed, reinforcing the company’s commitment to talent retention.

Puravankara Ltd, a prominent real estate developer headquartered in Bengaluru, has secured a major redevelopment project involving eight residential societies in Chembur, Mumbai. This initiative encompasses over 12 lakh square feet across 4 acres, with an anticipated gross development value (GDV) of Rs. 2,100 crore. The project forms part of the company’s strategic expansion in the Mumbai Metropolitan Region (MMR) and Pune markets, where redevelopment is expected to contribute Rs. 7,700 crore to an overall Rs. 18,000 crore GDV.

Sattva Group, a Bengaluru-based real estate powerhouse, plans to invest approximately Rs 800 crore in Goa’s property market over the next two years. This substantial capital deployment aims to leverage Goa’s enhanced infrastructure, growing connectivity, and surging demand from NRIs and domestic buyers for both primary residences and second homes. Building on the successful launch of the second phase of its flagship ‘Sattva Water’s Edge’ project near Dabolim airport, the company is preparing to initiate additional residential projects, including a gated community.

Meesho, the Bengaluru-based e-commerce startup backed by Japanese investment giant SoftBank, has initiated a confidential filing with India’s Securities and Exchange Board (SEBI) for an initial public offering (IPO). The company, known for its asset-light, social commerce model, intends to raise at least Rs. 4,250 crore through the offering. By leveraging SEBI’s pre-filing confidentiality provision, Meesho aims to maintain strategic discretion while navigating fluctuating market conditions.

Ather Energy, the Bengaluru-based electric two-wheeler manufacturer, has reached a major milestone by crossing the one lakh unit sales mark for its Rizta scooter. In celebration, the company has unveiled a new variant of the Rizta S, now equipped with a larger 3.7 kWh battery. This model offers an extended range of 159 km per charge, making it an attractive proposition for urban commuters seeking a practical and affordable electric scooter. Priced at Rs.