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Bezos sues US govt🔥
Serum buys 50% stake in Schott Kaisha, TCS hits Rs 13 trillion m-cap, and more.
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Blue Origin sues US govt after SpaceX wins NASA contract🌙
Jeff Bezos's Blue Origin sued the US government over the National Aeronautics and Space Administration's decision to award a $2.9 billion lunar lander contract to fellow billionaire Elon Musk's SpaceX.
Blue Origin said NASA gave SpaceX an unfair advantage by letting it revise its pricing. Jeff Bezos has offered to cover up to $2 billion in NASA’s costs if the space agency awarded Blue Origin a lunar landing contract.
Blue Origin's case is still sealed. NASA must respond by October 12th.
Serum Institute buys 50% stake in country's largest vial maker💉
Serum Institute of India has bought a 50% stake in vials maker Schott Kaisha, the companies said on Tuesday, as the world's largest vaccine maker aims to secure pharmaceutical packaging to meet rising demand due to the pandemic.
"Securing supply chain is of strategic importance...As a longtime customer, we use their vials, ampoules, and syringes to store vaccines, including Covishield" CEO Adar Poonawalla said in his statement.
SCHOTT is a company that is providing glass vials globally to key vaccine manufacturers.
Hot Shorts ⚡
Klub, a fintech platform that provides revenue-based financing, has raised $20 million (about Rs 150 crore) from existing investors.
Yellow Class, an education technology startup focused on extracurricular activities, has raised $6 million. The startup claims to have grown 18X in the past six months.
Rage Coffee, an Indian craft coffee maker, has raised $5 million at a time when direct-to-consumer (D2C) brands are gaining traction among consumers and investors alike.
Smart Express, a logistics startup, has raised Rs 100 crore in seed funding. The Mumbai-based firm plans to start operations in 30 cities at one go and set up 300 centers across India over the next three years.
TCS hits Rs 13 lakh crore market cap💻
TCS became the second listed company in India after Reliance Industries and the first information technology (IT) company to cross the Rs 13 trillion market capitalization (market-cap) milestone.
The stock hit a fresh record high of Rs 3,520 on the BSE and was trading at Rs 3,517.55, up Rs 45.80, or 1.32 %.
Currently, with a market cap of Rs 13.01 lakh crore, TCS stands at the number two position in the overall market cap ranking. Reliance Industries, which has a market cap of Rs 13.80 lakh crore, stands at the number one position, according to the BSE data.
Tweet of the day🐥
✅ The Supreme Court has asked the government to respond to the Pegasus petitions within 10 days.
'Happiness depends on being free, and freedom depends on being courageous.'
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