Top Indian IT firms' market capitalization has plummeted 24% since January, hitting a five-year low. The combined value of TCS, Infosys, Wipro, HCL Tech, and Tech Mahindra fell to Rs 24.86 trillion. TCS experienced the largest drop. The decline is attributed to earnings slowdown, sector rotation, and foreign investor selloffs. Q1FY26 net sales grew just 4%, the slowest in four quarters. Analysts cite global uncertainties and competition from AI as contributing factors.

Rapido, known for its ride-hailing service, is entering the food delivery market with its app, Ownly, in Bengaluru. It aims to compete with Zomato and Swiggy by offering lower commission rates to restaurants (8-15%) and fixed delivery fees to consumers. This move comes as the food delivery market experiences slower growth. Previous attempts by Uber and Ola to break into the market have failed. Rapido hopes its cost-efficient model will attract restaurants and customers.

Mumbai witnessed severe inundation due to heavy rains on Tuesday morning. Schools and colleges were shut as a 'red alert' warning was issued by the IMD. Local train services were delayed and traffic movement was disrupted. Several areas, including Borivali and Andheri, witnessed intense downpour resulting in water-logging. The city recorded an average rainfall of 128.86 mm to 185.74 mm in 24 hours.

Mirae Asset Sharekhan suggests buying JSW Steel between Rs 1075-1085, targeting Rs 1170, with a stop loss at Rs 1038. JSW Steel is resuming an uptrend after breaking consolidation. They also recommend buying Titan between Rs 3550-3560, targeting Rs 3850, with a stop loss at Rs 3411. Titan is expected to continue its uptrend after breaking a bullish triangle pattern. These are brokerage opinions, not Times of India's views; consult a financial advisor before investing.

Indian equity benchmark indices Nifty50 and BSE Sensex opened in green on Tuesday due to strong domestic news flow and global cues. Nifty50 was trading at 24,928.35, up 51 points or 0.21%, while BSE Sensex was at 81,501.87, up 228 points or 0.28%. Experts remain optimistic about Indian equities for the next 6-9 months due to policy reforms and stimulus from RBI and government.

US Director of National Intelligence Tulsi Gabbard stated the UK agreed to drop its demand for Apple to create a "backdoor" to encrypted data of US citizens. Gabbard, Trump, and Vance worked on the deal. The UK's order, challenged by Apple, raised concerns about potential exploitation by cybercriminals. Apple withdrew its Advanced Data Protection feature in the UK following the order. US officials examined if the UK violated the CLOUD Act.

Independence Day was celebrated in Srinagar's Bakshi Stadium, with Omar Abdullah hoisting the national flag. Security was high, but movement wasn't restricted. Locals noted a positive change and improved conditions compared to pre-2019. The event included parades and speeches, with a focus on the demand for full statehood. A CRPF trooper also noted improved conditions and a change in people's attitudes.

NPCI data shows 70% of UPI P2M transactions are for groceries, restaurants, pharmacies, fuel, bakeries, and utilities. Groceries lead with over 3 billion transactions worth ₹64,881.98 crore in July. Debt collection agencies recovered ₹93,857 crore. UPI hit a record 19.46 billion transactions worth ₹25.08 trillion in July, with P2M transactions at 12.38 billion worth ₹7.34 trillion. Digital gold purchases are rising, while online marketplace transactions also grew.

Broadway India, an experiential retail startup, has appointed Sankalp Kathuria as Co-founder and CEO. He succeeds Vivek Biyani, who becomes Investor and Chairman. Kathuria, formerly of Zomato, will lead Broadway's expansion to Pune and Mumbai. The company uses a tech-enabled retail format, housing digital-first brands in offline spaces. Broadway currently operates outlets in Delhi and Hyderabad.

Bengaluru will host ETRetail’s The FashionXP 2025 on August 20-21, focusing on Gen Z's impact on Indian fashion retail. Industry leaders will discuss adapting to consumer preferences, sustainability, and technology. The event includes panels, keynotes, a tech expo, and the FAME Awards. Influencer Uorfi Javed will also participate. Bengaluru's retail sector is booming, with leasing activity up 69% in H1 2025.