BUSINESS
Sitharaman Encourages India Inc to Harness Start-ups Tech Advancements for Manufacturing Boost
Sitharaman underscored the immense market potential in India, equivalent to that of several jurisdictions combined, emphasizing the rarity of finding such a large market within a single country.
CEA Nageswaran Urges Indian Corporates to Boost Investments Instead of Hoarding Funds
The CEA's message was unequivocal – corporations should proactively invest rather than hoard funds. He warned against waiting for demand to naturally rise before initiating investments, asserting that such a passive approach would only postpone the creation of favorable demand conditions.
India Records Highest Q2 Growth Globally: Statement by Finance Minister Sitharaman
Sitharaman emphasized India's position as the world's second most sought-after manufacturing destination and credited the Make in India program and Prime Minister Narendra Modi's schemes for the sector's significant 13.9% contribution to the economy. She underscored the growth across all sectors, pointing to the Purchasing Managers Index (PMI) in November, which stood at 56, indicative of sustained expansion.
Sarvam AI Secures $41 Million in Funding Led by Lightspeed, Marks Largest Investment for an Indian AI Startup
The company's full-stack approach is expected to accelerate the adoption of generative AI (GenAI) in India, especially for enterprises struggling to leverage its potential. Sarvam AI will focus on training AI models to support diverse Indian languages and voice-first interfaces.
Cautionary Signs: Small and Midcap Stocks in Potential Bubble Territory, Warn Analysts
The research report emphasizes a relative preference for large-cap stocks over mid-caps and small-caps on a top-down basis. While Paharia remains optimistic about the medium to long-term prospects of Indian equity markets driven by strong economic growth, he urges caution due to the recent sharp run-up in markets.
Government Plans Vote on Account on February 1, Sitharaman Hints at No Major Announcements
The vote on account serves as an interim budget, allowing the current government to seek Parliament's approval for necessary expenditures to sustain the country's operations until the new government assumes office.
Dunzo Reportedly Unable to Disburse November Salaries to Current Employees
The company informed its employees this week about assurances from an investor regarding the expected funds, indicating that these funds would likely be received by early next week.
After Election Results, Momentum in Rally Expected to Persist
Indications suggest a more substantial shift, expected to persist until at least the mid-April to May 24, coinciding with the ongoing elections. The prevailing market sentiment reflects optimism, aligning with the current government's favorable disposition and increasing the likelihood of their consecutive third term.
Public Sector Banks Write Off Loans Valued at Rs 3.66 Lakh Crore Over Last Three Fiscal Years
During this same period, these banks managed to recover only Rs 1.9 lakh crore, according to information obtained by Moneycontrol.com through a Right to Information (RTI) request.
IATA Reports Soaring Airline Profits, but High Interest Rates Pose Challenges
Operating profits for the airline industry are projected to increase from $40.7 billion in 2023 to $49.3 billion in 2024, while total revenues in 2024 are expected to reach a record $964 billion, representing a 7.6% year-over-year growth. The forecast indicates that 4.7 billion people will travel in 2024, surpassing the pre-pandemic level of 4.5 billion recorded in 2019. Cargo volumes are also expected to rise, reaching 58 and 61 million tonnes in 2023 and 2024, respectively.
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