Asia News & Trends

Women leaders on vulnerability, strength, and structural changes in

Women leaders on vulnerability, strength, and structural changes in "Authentic Ascent"

An interesting panel discussion on the topic of "The Authentic Ascent: Leading with Vulnerability and Strength" took place at the 6th edition of the Women Disruptors Summit & Awards 2025. Industry pioneers gathered to talk about systemic changes that enable women in leadership positions in addition to their own personal journeys.Pritha Mitra Dasgupta, Chief Marketing Officer of Havas India, presided over the meeting, and panelists included: Kinnari Dave, Shemaroo Entertainment's Business Head for ShemarooMe Prachi Bali, Head of Saatchi Propagate and EVP Shwetal Basu, Polycab India's Senior Vice President and Head of Brand & Marketing"We are no longer applauding leaders who never flinch," said Pritha Mitra Dasgupta, who opened the conversation by saying .that the days of leaders who stood like rock without flinching were long gone. In actuality, we are admiring those who possess the capacity for tenderness, resilience, empathy, and ambition.She continued by asking Kinneri Dave how both astute strategy and flexibility are necessary to successfully navigate a legacy business through the digital maelstrom. "Could you describe a situation where you were able to bring things back on track when they were veering off course because of your transparency rather than just your strategic abilities?""When you take over a brand, a legacy brand as large as Shemaroo, the burden of the brand and the legacy is huge, and you're always on edge, making sure you're not denting it," Kinnari Dave said, citing a server crash as an example that demonstrated the leadership transfers. I can clearly recall that five years ago, I oversaw product and technology for another company before taking the helm at Shemaroo.I remember clearly the day one of our servers broke and we lost a lot of data because it's a legacy brand and we had a major tech move. At that period, leading product technology for a heritage company felt extremely risky because of the media and people' doubts about a legacy brand going digital in comparison to Netflix. We told stakeholders, "Yeah, we've had a crash, lost data, and need time to figure this out," rather than jumping into solution mode, I said. However, we'll make sure that things return to normal. I then said to the crew, "All right, so this is where we are." Let's focus on finding a solution and separating the problem from the who.That made things more relatable and encouraged cooperation. Because we came together and worked as a single, cohesive team, I believe that's where we found the solution and recovered more quickly than anticipated.  

Published 14 Apr 2025 07:37 PM

In a new covert Santa commercial, IGP adds a gangster touch to office gifts.

In a new covert Santa commercial, IGP adds a gangster touch to office gifts.

IGP debuted a brand-new Christmas advertising campaign. The office Secret Santa in the advertisement has a gangster vibe. It draws attention to likable characters at work. IGP provides a variety of practical presents. The ad highlights growing tendencies in office gifts. The goal of IGP is to simplify corporate gifting.With the debut of its second ad video under the 'Amazing Gifts, Samay Par' campaign, International Gifts Platform, or IGP, has added a humorous and inventive twist by putting a birthday celebration in the Stone Age. This most recent episode satirically reimagines the classic problem of selecting the ideal birthday present, demonstrating that gift selection was important even in prehistoric times. The campaign's main concept is that a well-considered present given at the appropriate moment can have a lasting effect.The advertisement transports us to the Stone Age, when even prehistoric people understood that a birthday celebration wouldn't be complete without the ideal cake. A young cave lad surprises his crush with a delectable cake and blooming flowers from IGP in a world where stone tools are cutting edge and fire is considered a luxury. Every cave-dweller at the gathering is won over by the cake, which becomes the talk of the tribe. The message is clear: a thoughtful, well-timed present can make a lasting impact in any era, whether you are looking for dinner or running contemporary errands!  

Published 13 Dec 2024 10:46 PM

Review of Pushpa 2 The Rule and live updates Rashmika Mandanna and Allu Arjun's movie will be accessible to those with disabilities; BO update

Review of Pushpa 2 The Rule and live updates Rashmika Mandanna and Allu Arjun's movie will be accessible to those with disabilities; BO update

Review of Pushpa 2: The Rule and live updates: Pushpa's follow-up with Director Sukumar: The Rise is about to blow the box office away. Rashmika Mandanna, Fahaadh Faasil, and Allu Arjun are the film's main actors. Allu will play laborer-turned-sandalwood smuggler Pushpa Raj in the follow-up to the Telugu blockbuster from 2021. Rashmika portrays Srivalli, his wife.Tickets for Pushpa 2's December 4 launch are available at select theaters for ₹944 (GST included). The film has surpassed previous marks set by Kalki 2898 AD, Bahubali 2, and KGF 2 to become the fastest film to sell one million tickets on the platform, according to online ticketing portal BookMyShow.Like many recent south-bound films that have shattered records in the Hindi-speaking belt, the movie is expected to gross over ₹60 crore on its first day in the north. The excitement generated by the trailer launch in Patna was just a taste of the excitement that will surround its release.  

Published 05 Dec 2024 08:22 PM

Did artificial intelligence sap Coca-Cola's Christmas cheer?

Did artificial intelligence sap Coca-Cola's Christmas cheer?

Social media users reacted negatively to Coca-Cola's recent AI-generated Christmas advertisements. Many contend that the intended Christmas spirit was overshadowed by the campaign's lack of emotional connection and appropriate execution. Although the advertising' technology was impressive, the narrative fell short of the success of Coca-Cola's seminal 1995 commercial. We sought the opinions of prominent figures in Indian advertising.Social media users made fun of Coca-Cola's AI-generated Christmas advertisements when they were published last month. Some users felt that the magic had been lost in the advertisements, which were meant to honor the brand's famous Coca-Cola Christmas commercials from 1995, "Holidays Are Coming." Experts in the field offer their opinions on whether the recent internet backlash against the cola giant's advertisements is the result of bad execution or AI failure.The CCO of DDB Mudra Group, Rahul Mathew "I believe that a campaign's ambition is what makes it successful. You won't be content until you achieve your goal of being the most talked-about campaign. On the other hand, you will be content that you are out there if your goal is simply to be there. I believe the goal of the Coca-Cola commercial was just to be an AI execution. And rather than being a tale that appeals to everyone's Christmas spirit, that has turned into the commercial's narrative."Animation, CG, AI, and live action are all methods of execution. The customer does.  

Published 04 Dec 2024 10:14 PM

A new RBI governor has been appointed by Revenue Secretary Sanjay Malhotra.

A new RBI governor has been appointed by Revenue Secretary Sanjay Malhotra.

Sanjay Malhotra, a former Revenue Secretary, has been named Reserve Bank of India (RBI) Governor. According to a statement from the administration, he will assume leadership on Wednesday and serve for three years. Mr. Malhotra is an Indian Administrative Service (IAS) officer from the Rajasthan cadre, having been drafted in the 1990 batch. He received a master's degree in public policy from Princeton University in the United States and a bachelor's degree in computer science from the Indian Institute of Technology in Kanpur.In a career spanning over 33 years, Mr Malhotra has worked in several sectors including power, finance and taxation, information technology, mines etc.  

Published 09 Dec 2024 07:42 PM

The Chief Justice withdraws from legal arguments on the employment of poll workers.

The Chief Justice withdraws from legal arguments on the employment of poll workers.

Sanjiv Khanna, the Chief Justice of India, resigned on Tuesday from hearing arguments against the legality of the statute that removed him from the committee responsible for selecting the Chief Election Commissioner and other election commissioners.The Chief Justice, who shared the bench with Justice Sanjay Kumar, informed the petitioners' attorneys that he was unable to hear their plea. "List the matter before a bench of which I am not a part of," he stated.He said that the matter will be heard after the winter break and would be reallocated to a separate bench, excluding the Chief Justice. During that time, the Chief Justice also instructed the Center and other parties to submit answers to the petition.In their representation of the petitioners, senior advocate Gopal Sankaranarayanan and attorney Prashant Bhushan stated that the previous bench, which was led by Justice Khanna, who had not yet been promoted to the position of Chief Justice, had issued interim orders in the case back in March. Notably, the Chief Justice of India was not allowed to serve on the committee that appointed the chief election commissioner (CEC) and other election commissioners as a result of the Election Commissioners' Act, which was approved in December 2023. The Prime Minister, a Cabinet Minister, and the Leader of the Opposition currently make up the appointment panel.A number of individuals, notably the Association for Democratic Reforms and Congressman Jaya Thakur, contested the legality of Section 7 of the Chief Election Commissioner and other Election Commissioners Act, 2023, and requested a halt to its implementation. A different Supreme Court bench, consisting of Justices Sanjiv Khanna and Dipankar Datta, had earlier in March declined to halt the new law's implementation of the appointment of new Election Commissioners (ECs).  

Published 05 Dec 2024 08:52 PM

Election Commission ruling by the Supreme Court: When judicial activism shapes the law

Election Commission ruling by the Supreme Court: When judicial activism shapes the law

By adopting the Constituent Assembly's mantle in its March 2, 2023, ruling, the Supreme Court of India essentially rewrote some of the Constitution's clauses. The Court mandated that revised guidelines for the Election Commissioner's appointment be adhered to.According to these regulations, a committee made up of the Prime Minister, the Leader of the Opposition, and the Chief Justice of India must advise the appointment of the Election Commissioner. The Court defended this by saying that these regulations are necessary to address the "lacuna" in the laws governing this topic. However, it is clear that the Court has acted in flagrant contempt of the doctrine of the separation of powers if we examine the Court's reasoning and the laws pertaining to the appointment of Election Commissioners in greater detail.The Constitution itself, which aimed to create three institutional organs—the legislature, executive branch, and judiciary—is the source of the theory of separation of powers. The Constitution also outlined the roles of these three branches, with the legislature enacting laws, the executive branch enforcing them, and the judiciary rendering decisions. But the same Court that once acknowledged this theory as a component of the Constitution's "basic structure" has now reversed it.  

Published 03 Dec 2024 05:34 PM

Amitesh Jha of Flipkart is appointed CEO of Swiggy Instamart.

Amitesh Jha of Flipkart is appointed CEO of Swiggy Instamart.

With effect from September 4, 2024, Swiggy has named Amitesh Jha as the new CEO of Swiggy Instamart. Jha offers more than 20 years of expertise to the position, having previously worked with Flipkart.The on-demand meal delivery service Swiggy announced in a press release today, August 29, that Amitesh Jha has been named CEO of Swiggy Instamart. On September 4, 2024, Jha will take over as CEO of the fast commerce company.As competition intensifies in the rapid commerce space, Swiggy has made a move into larger e-commerce categories by appointing Flipkart veteran Amitesh Jha as the new CEO of Instamart.Amitesh Jha, a Flipkart veteran, was named CEO of Swiggy Instamart by IPO-bound Swiggy at a time when rapid commerce competitors are preparing for a fierce competition with e-commerce behemoths. The hiring of Jha reflects the desire of rapid commerce companies to expand beyond grocery by entering e-commerce markets that have historically been robust, such electronics, fashion, and clothing. According to his LinkedIn page, Jha, who has 14 years of experience at Flipkart, was most recently the Senior Vice President of Category and Marketplace, where he oversaw high-growth companies that accounted for 70% of transactions on the Walmart-owned e-commerce platform.Swiggy Group CEO Sriharsha Majety highlighted Jha's "extensive experience in leading core categories such as smartphones, general merchandise, fashion, and large appliances, as well as managing their logistics arm" when he explained why the former Flipkart executive was chosen to lead Instamart. Protecting Swiggy Instamart's market share, which UBS thinks is currently between 20 and 25 percent, compared to Bernstein's projections of 35 to 39 percent in 2023, is one of Jha's biggest problems. In addition to market leader Blinkit's steady rise, BigBasket's complete focus on speedy commerce and Zepto's charge, which is being supported by $1 billion in new funding, are the main causes of the assault.  

Published 02 Dec 2024 11:47 PM

Day 10 of Pushpa 2 (Hindi) Trends in the Box Office: The biggest second Saturday in Hindi cinema history is achieved by the Allu Arjun film.

Day 10 of Pushpa 2 (Hindi) Trends in the Box Office: The biggest second Saturday in Hindi cinema history is achieved by the Allu Arjun film.

Pushpa 2: The Rule (Hindi), starring Allu Arjun, is an unstoppable force at the box office, setting yet another record on the second Saturday. Early trends indicate that the Sukumar-directed film hopes to earn between Rs 41.00 crore and Rs 43.00 crore on the tenth day, bringing its total earnings to Rs 458 crore. With a gross of Rs 33.00 crore, the Shraddha Kapoor and Rajkummar Rao-starring Stree 2 was the most grossing second Saturday in Hindi cinema history.The movement and momentum in the evening and night shows will determine if Pushpa 2 will even approach the Rs 45 crore milestone on the tenth day. If it succeeds, Pushpa 2's second Saturday will gross more than Stree 2's second Sunday (Rs 42 crore), which says a lot about the movie's dominance at the box office. Pushpa 2's second weekend could bring in close to Rs 115 crore, which would once again be the largest amount ever made.After surpassing the box office receipts of Animal, Bahubali 2, Pathaan, and Gadar 2 in just 13 days, the Allu Arjun flick is expected to surpass the Rs 500 crore mark on Sunday and rank as the third-biggest Hindi feature film ever by Tuesday. In order to become the most successful Hindi film ever and the first to ever reach the Rs 600 crore milestone, the movie will then be vying for the box office receipts of Jawan and Stree 2.  

Published 14 Dec 2024 08:54 PM

Day 6 global box office receipts for Pushpa 2 The Allu Arjun-Rashmika Mandanna film is the quickest Indian production to reach the Rs 1000 cr milestone.

Day 6 global box office receipts for Pushpa 2 The Allu Arjun-Rashmika Mandanna film is the quickest Indian production to reach the Rs 1000 cr milestone.

Day 6 box office collection for Pushpa 2: The Rule: The movie starring Rashmika Mandanna and Allu Arjun had a fantastic first weekend at the box office. Indeed, the movie saw a sharp decline in box office receipts on Monday as the week began, despite doing exceptionally well in the first four days. According to reports, Pushpa 2: The Rule made Rs 1000 crore today worldwide. The makers claim that Pushpa 2 is now the fastest Indian movie to join the exclusive membership.As of yet, Pushpa 2 has not made Rs 650 crores at the domestic box office. The Hindi box office receipts for Pushpa 2 were reported by trade analyst Taran Adarsh. The force of "PUSHPA 2" is unstoppable. Unflappable at the #BO, #Pushpa2 extends its winning streak. Its #Blockbuster reputation is cemented by the astounding weekday patterns on Monday and Tuesday. The movie should become the fastest to reach the ₹ 400 cr milestone today [Wednesday; Day 7], given its incredible hold on weekdays. Going forward, it is anticipated that #Pushpa2's outstanding performance in *Weekend 2* will be bolstered by the lack of new releases this Friday, paving the way for a grand entrance into the ₹ 500 cr Club. [First Week] Pushpa2 Sat: 74 cr, Fri: 59 cr, Thu: 72 crThe Telugu version of Pushpa 2 made Rs 11 crores on the sixth day. On Tuesday, the Tamil version brought in Rs 2.5 crores, Kannada brought in Rs 0.4 crores, while Malayalam only brought in Rs 0.5 crores. The action drama made over Rs 150 crores on its first day of release. Unexpectedly, the Telugu version of the movie showed a surge in occupancy. The Telugu version of the movie had an occupancy of 34.79 percent on Tuesday, compared to 25.87 percent on Monday. Additionally, the general occupancy of the Hindi version of Pushpa 2 increased. The occupancy increased to 38.76 percent on Tuesday from 24.83 percent on Monday.  

Published 11 Dec 2024 08:18 PM

Aliya, the sister of Nargis Fakhri, was jailed for killing her ex-boyfriend and his friend while yelling,

Aliya, the sister of Nargis Fakhri, was jailed for killing her ex-boyfriend and his friend while yelling, "You're all going to die today."

Bollywood actor Nargis Fakhri's sister, Aliya Fakhri, has been arrested on suspicion of killing two people when she set fire to her ex-boyfriend's house in Jamaica, a Queens neighborhood in New York City. Aliya has been charged with first-degree murder and other offenses, Queens District Attorney Melinda Katz said in a statement.The deceased have been identified as Anastasia Ettienne (33), Aliya's ex-boyfriend Edward Jacobs (35). Katz told the media that both victims died from burns and smoke inhalation after the fire, which was allegedly ignited by Aliya in the detached garage close to Jacobs' house entry, trapped them with no way out.Aliya, 43, of Parsons Boulevard in Queens, was charged by a grand jury and placed under remand on November 27. She is charged with four first-degree murders, four second-degree murders, and one first- and second-degree arson charge each. She might receive a life sentence if found guilty of the most serious accusation. December 9 is the day of her upcoming court appearance. According to the information provided by the authorities, the crime was reportedly perpetrated by Aliya on November 2. Around 6:20 a.m., she arrived at the two-story detached garage and yelled at Edward, "You're all going to die today."The building was on fire when a witness who had been inside the residence came downstairs shortly after. When Ettienne heard about the fire, he went downstairs for a moment. Then the woman went back upstairs to try to wake Jacobs, who was asleep. Neither Jacobs nor Ettienne were able to flee as the structure caught fire, Katz stated in her testimony.  

Published 03 Dec 2024 09:00 PM

Trailer for Mismatched 3: Rivals are friends and Dimple-Rishi reside in the

Trailer for Mismatched 3: Rivals are friends and Dimple-Rishi reside in the

As the two explore what it means to live two lives—one real and one virtual—love meets technology as they address their goals and the work required to maintain a relationship. A brand-new collection of carefully chosen songs will also be available over the season. Fans will continue to use the music, which is synonymous with the series, as a great storytelling tool.On Monday, the final trailer for the third season of the well-liked love sitcom Mismatched on Netflix was made public. The eagerly awaited season, which stars Prajakta Koli and Rohit Saraf in the key roles, will bring back long-standing relationships and forge new ones. The trailer jumps right into the next phase of Rishi's (Rohit Saraf) and Dimple's (Prajakta Koli) relationship, beginning with the famous cold coffee that first brought them together. As they go into the next stage of their relationship, the couple has left the Aravali Institute for a new campus in Hyderabad.As the two explore what it means to live two lives—one real and one virtual—love meets technology as they address their goals and the work required to maintain a relationship. A brand-new collection of carefully chosen songs will also be available over the season. Fans will continue to use the music, which is synonymous with the series, as a great storytelling tool.Furthermore, this season is all about changing the course of events, as Rishi and Anmol (Taaruk Raina), who were formerly fierce rivals, end up working together at the virtual reality lab Betterverse. While Krish (Abhinav Sharma) is still figuring out where he fits in, Celina (Muskkaan Jaferi) helps a new character, Rith (Lauren Robinson), succeed in this virtual environment. Zeenat (Vidya Malavade) and Sid Sir (Rannvijay Singha) are making new plans and beginning afresh, which is a good parallel to the several "worlds" the crew traverses in Mismatched, ranging from friendships to adulthood and self-discovery.In addition to newcomers Lauren Robinson, Garima Yajnik, and Akshat Singh, this season features Prajakta Koli, Rohit Saraf, Rannvijay Singha, Taaruk Raina, Vidya Malavade, Ahsaas Channa, Abhinav Sharma, and Muskkaan Jaferi.    

Published 03 Dec 2024 09:26 PM

Today's stock market: Asian stocks are divided as Wall Street emerges from its holiday-season slump

Today's stock market: Asian stocks are divided as Wall Street emerges from its holiday-season slump

HONG KONG (AP) — Following Wall Street's recovery from the holiday season blues, Asian stocks are uneven, with markets in China and Tokyo seeing declines.As Tokyo's market reopened following the lengthy customary holiday, the finance minister of Japan rang in the New Year, and employees wearing suits and kimonos applauded for good fortune in 2025.Katsunobu Kato, the finance minister, declared that the Japanese government would take action to assure economic growth driven by investment and salary rises. He also promised to "grasp signs of recovery" and make sure that "every single citizen can feel the improvement in their salaries."Much of Asia has been wary of possible changes under President-elect Donald Trump, who has pledged to drastically increase tariffs on imports from China and other nations, which might impede growth for a region that depends significantly on trade. After U.S. President Joe Biden turned down Nippon Steel's roughly $15 billion offer to buy Pittsburgh-based U.S. Steel Corp., the company was predicted to file a lawsuit. On Monday, Nippon Steel's stock dropped 0.7% in Tokyo. On Friday, U.S. Steel's stock fell 6.5%. Hong Kong's Hang Seng fell 0.5% to 19,654.82, while Tokyo's benchmark Nikkei 225 index fell 1.6% to 39,258.25. At 3,194.20, the Shanghai Composite index fell 0.5%.  

Published 06 Jan 2025 10:33 PM

FPIs Lower Paytm Stakes to Less Than 1%

FPIs Lower Paytm Stakes to Less Than 1%

OVERVIEW Tiger Pacific Master Fund owned 1.03% of the shares in the June quarter, UBS Principal Capital Asia owned 1.06%, and Societe Generale owned 1.98%. The company's total FPI ownership fell from 20.04% in the prior quarter to 16.77% in the September quarter. On the BSE, Paytm's shares closed Thursday's trading session 3.47% lower at INR 696.35.Tiger Pacific Master Fund, UBS Principal Capital Asia, and Societe Generale are among the foreign portfolio investors (FPIs) who have decreased their investments in Paytm.Paytm Datalabs_in-article-iconTiger Pacific Master Fund owned 1.03% of the shares in the June quarter, UBS Principal Capital Asia owned 1.06%, and Societe Generale owned 1.98%.These stakes dropped below 1% at the end of September, therefore they were not included in the most recent data that was made public.In the quarter that ended in September, the total FPI ownership in the business fell from 20.04% to 16.77%. Paytm has been contacted by Inc42 to provide feedback on the development. The response will be used to update the story.On the BSE, Paytm's shares closed Thursday's trading session 3.47% lower at INR 696.35.In the quarter that ended in September, the holdings of foreign portfolio investors (FPIs) Societe Generale, Tiger Pacific Master Fund, and UBS Principal Capital Asia in One 97 Communications fell below 1%. Due to general market weakness, Paytm's shares fell 3% intraday to a low of Rs 700 on the BSE.  

Published 17 Oct 2024 05:24 PM

F&O-banned stocks on July 15, 2024

F&O-banned stocks on July 15, 2024

On Monday, July 15, 2024, the National Stock Exchange (NSE) imposed a trading suspension on eleven equities in the futures and options (F&O) segment.These stocks were prohibited because their market-wide position limit (MWPL) exceeded 95%. These equities can still be traded in the cash market even though they are prohibited in the F&O segment.The list of securities subject to the F&O prohibition is updated on a regular basis by NSE. The following stocks are prohibited as of July 15:Aditya Birla Fashion and Retail Balrampur Chini Mills Bandhan Bank Chambal Fertilisers and Chemicals GMR Infra GNFC IEX India Cements Indus Towers Piramal Enterprises RBL BankDerivative contracts for these securities were included in the embargo period, according to the NSE, because they exceeded 95% of the MWPL. Clients and members may only trade in these assets' derivative contracts during this prohibition period in order to offset their positions and decrease their holdings. Any increase in available employment will be met with the proper legal and disciplinary measures. During the ban period, no new positions are allowed in the F&O contracts of stocks.  

Published 15 Jul 2024 05:57 PM

After a 20% gain in a month, will Wipro's stock reach its one-year highs again?

After a 20% gain in a month, will Wipro's stock reach its one-year highs again?

Wipro stock price: At Rs 530.70, the stock was last seen trading 3.07 percent higher. It has increased 19.54% at this pricing in the last month. The share price was down 2.82 percent from its 52-week high of Rs 546.10, which was reached on February 2 of this year, notwithstanding the aforementioned increase.Wipro Ltd.'s shares increased 4% on Monday to reach a high of Rs. 535.50. At Rs 530.70, the stock was last seen trading 3.07 percent higher. It has increased 19.54% at this pricing in the last month. The share price was down 2.82 percent from its 52-week high of Rs 546.10, which was reached on February 2 of this year, notwithstanding the aforementioned increase. "The relative value of IT equities appears advantageous when looking at it in the long run. Long-term investors may want to look into equities like Wipro," said WealthMills Securities Director of Equity Strategy Kranthi Bathini.Having said that, Bathini continued, "the upcoming quarterly results and guidance will be extremely crucial going forward." Support for the counter's technical configuration was visible in the Rs 500–490 area. Additionally, additional upside requires a firm close above Rs 545.Wipro has gained a lot of momentum after breaking beyond the Rs 500 barrier. On an intermediate perspective, the stock is ready to attempt the recent swing high of Rs 545. It would be important to keep an eye on the counter for a breakout above the indicated zone, as this might lead to significant traction in a similar amount of time. Any short-term hiccup is probably to be cushioned on the lower end by Rs 500–490, according to Osho Krishan, Senior Research Analyst, Technical & Derivatives at Angel One.  

Published 01 Jul 2024 05:30 PM

The message of Maharashtra's unexpected and historic victory is for Viksit Bharat Sitharaman Nirmala

The message of Maharashtra's unexpected and historic victory is for Viksit Bharat Sitharaman Nirmala

Union Finance Minister Nirmala Sitharaman described the victory of the BJP-led Mahayuti alliance as "unexpected and unprecedented," saying that the Maharashtra elections were not your typical assembly elections and that the result sent a strong message for "Viksit Bharat."Additionally, the Union Minister congratulated Devendra Fadnavis on his election as the Maharashtra BJP legislative party's leader."I congratulate all elected MLAs," Sitharaman stated at the legislative party gathering. I congratulate Devendra Fadnavis on his election as the legislative party's leader. The 14 crore votes cast in this election send a message to the entire country of India. This election was not your typical assembly election. Following the Lok Sabha elections, the country's voters clearly gave their consent in the elections of Haryana and Maharashtra. Maharashtra's unexpected and historic triumph.Sitharaman went on to say that Maharashtra's next "double-engine" administration will be more effective in all areas, including AI technology, industry, farmers, investment, and regional development. "I think that the uncertainty brought about by the previous governments, which were led by the Congress and coalition, exhausted the people of Maharashtra and the country. Under the PM's direction, the double engine government will seek to advance while meeting the PR.  

Published 05 Dec 2024 08:33 PM

The Union Budget 2024 may see the government loosen the 45-day payment restriction for MSMEs.

The Union Budget 2024 may see the government loosen the 45-day payment restriction for MSMEs.

According to insiders, the government may decide to loosen the rule requiring MSMEs to be paid for goods and services within 45 days of the purchase in order to deter big corporations from exploring alternative sources of funding This could be announced in the budget, which is expected to be delivered on July 23.Overview. The government is thinking about easing the 45-day payment deadline for MSMEs in an effort to keep big businesses from looking for alternative suppliers. It is possible that this modification to Section 43B(h) of the Income Tax Act would be disclosed in the forthcoming July 23 Budget. As per the Finance Act 2023's introduction of Section 43B(h) of the Income Tax Act, a larger company may face greater taxes if it fails to pay an MSME within the stipulated timeframe of 45 days for written agreements. This is because the firm cannot deduct the payment from its taxable income.The amendment was introduced to allow MSMEs to receive payments on time, but many of them expressed fear, according to sources. They said they were afraid that large corporations might ask their vendors to give up their MSME registration in order to do business with them, or they might shift their sourcing requirements to larger firms in an effort to protect their interests.  

Published 09 Jul 2024 06:19 PM

2024 Budget Why this July, in July, Nirmala Sitharaman will release the budget

2024 Budget Why this July, in July, Nirmala Sitharaman will release the budget

Nirmala Sitharaman would thus become the first finance minister to introduce seven Union Budgets in a row.The Union Budget 2024 for the fiscal year 2024–25 is anticipated to be presented by Finance Minister Nirmala Sitharaman in the second part of July. By doing this, she will beat Morarji Desai, who presented six consecutive Budgets, to become the first Finance Minister to present seven successive Union Budgets. The most comprehensive report of the central government's finances, the budget estimates the government's revenue and expenditures and includes information on all sources of revenue as well as government-incurred costs.In recent years, February 1 has been the day for the presentation of the Union Budget. On February 1st of this year, Nirmala Sitharaman presented the Interim Budget for FY24, given that it was an election year. This year's Lok Sabha elections saw the BJP-led National Democratic Alliance (NDA) defeat the opposition's INDIA alliance for the third time in a row. As a result, Nirmala Sitharaman will give the Union Budget in its entirety the following month.The 18th Lok Sabha's first session, which convened on June 24, is now in progress. The session, which ends on July 1, has already seen the swearing-in of new members and a joint sitting of the Rajya Sabha and Lok Sabha on June 27 during which President Droupadi Murmu delivered a speech.  

Published 01 Jul 2024 06:26 PM

Road safety and enforcement checkpoints will be erected; the MP government eliminates transport checkposts at interstate boundaries.

Road safety and enforcement checkpoints will be erected; the MP government eliminates transport checkposts at interstate boundaries.

The government of Madhya Pradesh is going to establish new road safety and enforcement checking stations and has eliminated the transport check posts at interstate borders. There will be 45 checking points set up initially, and until these points are operational, enforcement will be temporarily handled by mobile forces. Home guards, enforcement officers, and district transport office officials will make up these mobile units. With effect from today, the Madhya Pradesh government eliminated the transport checkpoints at the state's interstate borders and announced the establishment of new road safety and enforcement checkpoints.In the first phase of the state under the new system, 45 checking points will be implemented. In the interim, before the new checkpoints are prepared, mobile units made up of house guards, district transport office employees, and enforcement personnel will be established.In a video conference meeting with officials on Sunday at CM House, Chief Minister Mohan Yadav gave orders for district-level administrative and police personnel to assist the Transport Department in implementing the new system.  

Published 12 Aug 2024 10:23 AM

According to Instagram, rubbing raw ginger can help clear up acne. Are dermatologists in agreement?

According to Instagram, rubbing raw ginger can help clear up acne. Are dermatologists in agreement?

Another day, another Instagram beauty tip that has gone viral. You surely have a feed full of skincare tips on how to treat acne if you have it, like I do. Social media is using natural components from your kitchen, such as flax seeds for "botox" and raw garlic. This time, raw ginger is the focus, as influencers assert that applying it topically can help eradicate acne. It seems like a simple solution to acne, doesn't it?Innumerable videos of Indian skinfluencers with radiant skin can be found online these days, stating that the key isn't pricey facials but rather applying raw ginger directly to acne outbreaks to treat them right away. But is this spicy suggestion really supported by any science?To find out if this pattern is reliable, let's take a closer look and get some professional guidance.What are the opinions of experts? First, let's get this out of the way. Anything is not necessarily beneficial to your skin just because it is natural. particularly when used undiluted and raw. Senior consultant dermatologist Dr. Gulhima Arora of Mehektagul Dermaclinic states that ginger has only been indirectly shown to be effective in treating acne in scientific studies. It shouldn't be regarded as the primary or first line of treatment. She emphasizes that acne is a complex condition and that not all of its triggers can be addressed by a single spice.Dermatologist and Kaya Limited medical advisor Dr. Saranya B concurs, saying that using raw ginger to the face is not a clinically validated method of treating acne. Despite its antibacterial and anti-inflammatory qualities, direct application may irritate skin. According to Skin Smart Solutions' founder and principal dermatologist, Dr. Bindu Sthalekar, "there is no scientific proof that applying raw ginger topically treats acne." Theoretically, it might be beneficial, but only if taken in conjunction with other drugs and with good tolerance.  

Published 17 Apr 2025 08:57 PM

How to get ready for a multilingual child

How to get ready for a multilingual child

You can do a lot to set the stage for your child to learn the languages you want them to know before they are born.For every new parent, expecting a child—especially their first—is a lot. Where the baby will sleep, how to arrange for feeding, changing, and bathing, and how to set up your work schedule so that you or another caregiver can spend time with the child are just a few of the many unknowns and preparations that need to be made. If you are able to speak multiple languages, you might want your child to be able to speak them as well.Although this isn't always the case, many people in the English-speaking world know very little about any other language. Nearly 60% of EU citizens between the ages of 25 and 64 are "good" or "proficient" in at least one language other than their first. Many youngsters can anticipate having several first languages as they are born into households where multiple languages are spoken on a regular basis. It's possible that your parents speak various first languages or that you were raised speaking multiple first languages. Neither parent's first language may be the one spoken by the majority of people outside the family.You can do a lot to set the stage for your child to learn the languages you want them to know before they are born. Parents might talk about the language skills they hope their child will acquire. Which language or languages should your child learn as their first language from the beginning? Generally speaking, the original language or languages are more developed than subsequent languages. If more than three or four languages are involved, you might have to prioritize due to practical constraints. Making sure the child receives adequate, consistent exposure to and contact with each language they are learning is crucial. Parents frequently desire to engage with their infant in the  

Published 03 Jan 2025 09:02 PM

Indian-American Miss India USA 2024, born in Chennai

Indian-American Miss India USA 2024, born in Chennai

Caitlin Sandra Neil, an Indian American girl from Chennai, won the title of Miss India USA 2024 at the yearly contest in New Jersey.Ms. Caitlin, 19, is a University of California, Davis second-year student. "I want to leave a positive lasting impact on my community and focus on women's empowerment and literacy," Caitlin was quoted as saying in a press statement.Ms. Caitlin was born in Chennai, India, and has spent the previous 14 years in the United States. She aspires to work as a web designer in addition to modeling and acting.In the pageant run by the India Festival Committee (IFC), Sanskriti Sharma from Illinois was named Mrs. India USA, and Arshita Kathpalia from Washington was crowned Miss Teen India USA. Caitlin Sandra Neil and Sanskriti Sharma were crowned Miss India USA 2023 by Rijul Maini and Mrs. India USA 2023 by Sneha Nambiar. In the Miss India USA contest, Manini Patel of New Jersey and Nirali Desia of Illinois were crowned first and second runners-up, respectively. In the Mrs. India USA contest, Virginia's Sapna Mishra and Connecticut's Chinmayee Ayachit were crowned first and second runner-up, respectively. According to the press release, Sonali Sharma and Dhriti Patel of Rhode Island were named the teen category's first and second runners-up, respectively. Twenty-five states sent forty-seven participants to compete in the pageant's three divisions.  

Published 21 Dec 2024 03:41 PM

The

The "dumbest thing on the internet" viral video features an influencer using green chillies as a "natural lip plumper."

Online criticism of the possible health hazards of using green chilli as a "lip plumper" erupted when a Delhi-based beauty influencer's video went popular.After publishing a contentious beauty tip online, a Delhi-based beauty blogger has created a stir by using a green chilli as a "natural lip plumper." Shubangi Anand uploaded the video to Instagram, and in a matter of days, it has received over 21 million views.Shubangi holds a green chilli in the beginning of the film, slices it, and then presses the exposed end to her lips. The apparent effects of the chilli begin to take effect as she proceeds with the procedure. She inhales deeply, tints her lips, and adds a glossy finish to complete her appearance. Her followers are encouraged to attempt the unconventional method themselves by the caption, which asks, "Would you try?" and includes emojis of fire and chilli.  

Published 09 Dec 2024 08:43 PM

BCCI vice-prez Rajeev Shukla says the IPL 2025 will start on March 23. The Champions Trophy squad announcement date has been announced.

BCCI vice-prez Rajeev Shukla says the IPL 2025 will start on March 23. The Champions Trophy squad announcement date has been announced.

Rajeev Shukla said the IPL 2025 starts on March 23 and disclosed the date for India's Champions Trophy team release.Vice-president Rajeev Shukla of the Board of Control for Cricket in India (BCCI) has confirmed that the much-anticipated Indian Premier League (IPL) 2025 would begin on March 23. Shukla disclosed the tournament's start date to the media on Sunday after the BCCI general meeting.Important decisions pertaining to the management of Indian cricket were taken at the BCCI meeting on January 12 in addition to the announcement of the IPL's start date. According to Shukla, Prabhtej Singh Bhatia has been elected as the BCCI treasurer, while Devajit Saikia will take Jay Shah's place as the organization's new secretary. He added that the 2025 Women's Premier League (WPL) venues will be revealed soon, and that the Champions Trophy teams meeting will be held between January 18 and 19. However, there have been differing claims regarding the IPL's start date. According to ESPNCricinfo, the competition will really commence on March 21. According to a BCCI insider cited by PTI, the competition would start on "March 20 or 21."Gautam Gambhir and Indian captain Rohit Sharma attended the review meeting on Saturday in response to India's dismal showing in the Border-Gavaskar Trophy, where the team lost 1-3 to Australia. Another 0–3 clean-sweep loss to New Zealand at home came before the series. "The Border Gavaskar Trophy performance, what went wrong, and the necessary course adjustment were all covered in depth. However, do not anticipate a hasty decision from the new BCCI administration," a source familiar with Board events told PTI under anonymity.  

Published 13 Jan 2025 09:45 PM

The 'Made of Bold' sports development initiative is launched by RCB.

The 'Made of Bold' sports development initiative is launched by RCB.

RCB's "Made of Bold Sports Development Programme" was started with the goal of identifying and developing athletes from all over the world.To find talent and develop athletes from all over the world, the Royal Challengers Bengaluru (RCB) started the "Made of Bold Sports Development Programme."On Thursday, the RCB issued a statement that read, "With a vision to unearth talent and nurture athletic champions from across regions, the Royal Challengers Bengaluru (RCB) are elated to announce the Made of Bold Sports Development Programme launch.""RCB's larger goal of creating a Sports Forward Nation, which aims to create a strong and sustainable sports ecosystem for India, includes the Made of Bold program as a key component. In order to promote active sports growth in the nation, this initiative seeks to find and develop athletes as well as start a conversation among important industry players," Rajesh Menon, Vice President and Head of RCB, stated in a news release. "We firmly think that when communities and sports come together, everyone benefits in the long run. This is for the socioeconomic impact on the neighborhood as well as for the talent that has been found and developed. With an emphasis on using sports as a bridge to underprivileged areas, we hope to accomplish this through RCB's Made of Bold Sports Development Programme in support of long-term development," he continued.Shreyanka Patil, the star cricket player for the Royal Challengers Bangalore (RCB), spoke on the program, saying, "I am very excited to see the 'RCB's Made of Bold Sports Development Programme' begin. Creating inclusivity and providing a platform for athletes and their communities to flourish is exactly what we Indian athletes need. This program is a good start for India, a huge country with a lot of unrealized sporting potential.  

Published 21 Dec 2024 03:44 PM

In a live interview, Jasprit Bumrah gives Sanjana Ganesan a hug the video goes viral online.

In a live interview, Jasprit Bumrah gives Sanjana Ganesan a hug the video goes viral online.

In addition, Jasprit Bumrah won Player of the Tournament with 15 wickets in eight games.After Team India won the T20 World Cup 2024, the hurts from their failure in the ODI World Cup 2023 final were salted on Saturday. In the last game, Team India defeated South Africa by a margin of seven runs, led by captain Rohit Sharma. India played brilliantly and were undefeated throughout the competition. One of the main factors in India's triumph at the major tournament was pacer Jasprit Bumrah, who drove his side to victory in numerous games with his amazing spells.Bumrah Jasprit gives Sanjana Ganesan a hug. Video Breaks the Internet During a Live InterviewIn addition, Jasprit Bumrah won Player of the Tournament with 15 wickets in eight games.Sports Desk on NDTVUpdated at 02:19 PM IST on July 01, 2024Two minutes to read In a live interview, Jasprit Bumrah gives Sanjana Ganesan a hug; the video goes viral online. Sanjana Ganesan and Jasprit Bumrah together© X (Twitter) After Team India won the T20 World Cup 2024, the hurts from their failure in the ODI World Cup 2023 final were salted on Saturday. In the last game, Team India defeated South Africa by a margin of seven runs, led by captain Rohit Sharma. India played brilliantly and were undefeated throughout the competition. One of the main factors contributing to India's victory in the majorThe fans were astonished by the top pacer's performance. Such "couple goals" moments are what Bumrah and Sanjana are renowned for providing their fans with. In eight matches, Bumrah took 15 wickets and won Player of the Tournament. He was instrumental in India's triumph over the Proteas in the summit confrontation. You can only listen to the newest music on JioSaavn.com. "Normally, I'm the one who makes an effort to control my emotions so that I can concentrate on my work, but right now, my emotions are taking control and I'm running out of words. After a game, I don't normally cry, but this one feels very meaningful. We thought we were in trouble halfway through, but to pull off a victory like this is  

Published 01 Jul 2024 05:26 PM

Shah Rukh Khan declared he would give a  flying kiss  to celebrate winning the IPL. Rana Harshit

Shah Rukh Khan declared he would give a flying kiss to celebrate winning the IPL. Rana Harshit

Rana was instrumental in the Kolkata Knight Riders' IPL victory, taking 19 wickets in 13 matches. The Delhi speedster's aim is to play for India after his breakout IPL season.The Kolkata Knight Riders (KKR) team ran on the engine of Harshit Rana, who went on to win the championship three times. Harshit, the uncapped Indian bowler, came through for his team during the first half of the IPL when Mitchell Starc was having trouble keeping his rhythm. In 13 games, he claimed 19 wickets. After being interviewed by The Indian Express, Harshit, 22, talks about his experience in the IPL, what Shah Rukh Khan promised him, why he began playing cricket, and his future aspirations.  

Published 12 Aug 2024 10:24 AM

The PM claims that concentrating only on commerce in the South Pacific won't help New Zealand

The PM claims that concentrating only on commerce in the South Pacific won't help New Zealand "get rich."

Important Points The most recent nation to enter into an economic alliance with the United Arab Emirates is New Zealand. The prime minister of New Zealand told CNBC that in order to find economic prospects, the South Pacific island nation must go outside of its immediate area. Prime Minister Christopher Luxon sees an opportunity to increase bilateral trade between the UAE and New Zealand through the free trade agreement inked on Monday.As the South Pacific island nation forges an economic alliance with the United Arab Emirates (UAE), the prime minister of New Zealand told CNBC that the nation must search for trade prospects outside of its immediate borders. Prime Minister Christopher Luxon views the free trade agreement, officially known as the Comprehensive Economic Partnership Agreement (CEPA), as an opportunity to increase bilateral trade between the two nations and positions the United Arab Emirates as one of the Middle East's biggest marketplaces.Luxon told CNBC Monday, "We have a long-standing relationship that dates back more than 40 years of diplomatic recognition, and the opportunity now is to deepen and broaden the economic relationship. "The signing of the CEPA and the bilateral investment treaty is crucial because, in reality, these two small, developed economies share many values and similarities, and we hope to be able to collaborate and strengthen our relationship.  

Published 15 Jan 2025 07:59 PM

As the nation commemorates the centennial of Vajpayee's birth, his legacy endures.

As the nation commemorates the centennial of Vajpayee's birth, his legacy endures.

The centennial of Atal Bihari Vajpayee honors his important political accomplishments to India. He served a full term as India's first prime minister who was not a member of the Congress. Vajpayee continues to play an admirable role in Indo-Pakistan ties, coalition politics, and effective administration. He was a great statesman and orator who had a long-lasting effect on national policy and parliamentary democracy in India.Using his trademark flourish, Atal Bihari Vajpayee made one of his most well-known predictions during the BJP's first convention at Shivaji Park in Mumbai on December 30, 1980: "Andhera chhatega, suraj niklega, kamal khilega" (darkness will end, the sun will rise, lotus will bloom). His remarks have held up well as the centennial of his birth approaches, with lotuses in full bloom and the BJP regaining control of the center for a third consecutive term.Vajpayee assisted the BJP in gaining traction when its cultural goal was viewed as anathema, if Prime Minister Narendra Modi made it the focal point of national politics.In a world full of powerful satraps, India's first non-Congress prime minister to serve a full term was a statesman politician and an unmatched orator who garnered admiration and respect from people on both sides of the political spectrum. He stood tall with his natural democratic spirit, which he had developed over decades of opposition.  

Published 24 Dec 2024 10:43 PM

The message of Maharashtra's unexpected and historic victory is for Viksit Bharat Sitharaman Nirmala

The message of Maharashtra's unexpected and historic victory is for Viksit Bharat Sitharaman Nirmala

Union Finance Minister Nirmala Sitharaman described the victory of the BJP-led Mahayuti alliance as "unexpected and unprecedented," saying that the Maharashtra elections were not your typical assembly elections and that the result sent a strong message for "Viksit Bharat."Additionally, the Union Minister congratulated Devendra Fadnavis on his election as the Maharashtra BJP legislative party's leader."I congratulate all elected MLAs," Sitharaman stated at the legislative party gathering. I congratulate Devendra Fadnavis on his election as the legislative party's leader. The 14 crore votes cast in this election send a message to the entire country of India. This election was not your typical assembly election. Following the Lok Sabha elections, the country's voters clearly gave their consent in the elections of Haryana and Maharashtra. Maharashtra's unexpected and historic triumph.Sitharaman went on to say that Maharashtra's next "double-engine" administration will be more effective in all areas, including AI technology, industry, farmers, investment, and regional development. "I think that the uncertainty brought about by the previous governments, which were led by the Congress and coalition, exhausted the people of Maharashtra and the country. Under the PM's direction, the double engine government will seek to advance while meeting the PR.  

Published 05 Dec 2024 08:33 PM

Election 2024 Live  By 1 pm, voter turnout in Maharashtra was 32.18%, while in Jharkhand, it was 47.92%.

Election 2024 Live By 1 pm, voter turnout in Maharashtra was 32.18%, while in Jharkhand, it was 47.92%.

Election 2024 Live: On Wednesday, by-elections are being held for 15 assembly seats in Uttar Pradesh, Punjab, Kerala, and Uttarakhand in addition to the Maharashtra and Jharkhand legislative assembly elections.Election 2024 Live: On Wednesday, November 20, Maharashtra and Jharkhand will hold assembly elections. All 288 seats in the Legislative Assembly of Maharashtra are up for election in a single phase. But in Jharkhand, where voting for 43 constituencies was held on November 13 with a 64.86 percent voter turnout, polling is being held for the remaining 38 seats. has been is now being is just being is really being is still being is already being is also being has been being is always being is only being was already being will be can be itself is must be would be also is could be may be might be had been is should be being was then is then is now is mostly is really is always is again is sometimes is also is already is further is just is either is first is often gets is only is still is even has already beenBy-elections for 15 assembly seats in Uttar Pradesh, Punjab, Kerala, and Uttarakhand are also taking place on Wednesday in addition to the legislative assembly elections in these two states. Voting in Maharashtra's 288 constituencies began at 7 a.m. and will end at 6 p.m. There are 9,64,85,765 registered voters in Maharashtra, including 1,16,355 service voters. In the entire state, 1,00,186 polling places have been set up by the Election Commission of India (ECI).Since the most recent assembly elections, Maharashtra's political climate has undergone substantial changes. Former allies the BJP and Shiv Sena ran against the Congress and the NCP, led by Sharad Pawar. The Congress, NCP, and Shiv Sena formed the Maha Vikas Aghadi (MVA) coalition after the BJP-Shiv Sena alliance broke up due to disagreements over the chief minister's responsibilities. In contrast, polling in Jharkhand started at 7 am at 14,218 polling places and will run until 5 pm, with the exception of 31 booths, which will close at 4 pm.  

Published 20 Nov 2024 04:53 PM

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Shubman Gill meets Ranchi airport standing guard, GT teammate Robin Minzs father

Shubman Gill meets Ranchi airport standing guard, GT teammate Robin Minzs father

"IPL 2024: On Wednesday, while the 48-year-old former Army officer was on duty as a security guard at the Ranchi airport, Shubman Gill met and greeted Robin Minz's father, Francis Xavier. Robin will play for Gujarat Titans in his first IPL season. In summary, the first tribal cricket player to be purchased at an IPL auction was Robin Minz. In 2024, Robin will compete for the Gujarat Titans, captained by Shubman Gill. Robin's father used to be in the Army and now works at the Ranchi airport as a security guard. Shubman Gill caught Francis, the father of new recruit Robin Minz of the Gujarat Titans, off guard on Wednesday at Ranchi's Bisra Munda Airport. The legendary batter took a moment to talk to the former Army veteran who has been working at the airport as a security guard. when he was leaving the city following the England Test match. Shubman Gill, who will captain the Gujarat Titans for the first time in the 2024 Indian Premier League, acknowledged Francis Xavier Minz's efforts to support his son Robin's goals on social media by posting a picture of their meeting. After a bidding war, Robin, who was acquired by Gujarat Titans for Rs 3.60 crore, will make Indian Premier League history as the first tribal guy to play for a team (IPL).  ""I'm honored to have met Robin Minz's dad. Your path and diligence have been motivational. ""Excited to see you during the Indian Premier League,"" Shubman Gill posted on his Instagram story. Shubman Gill was observed on Wednesday at the Ranchi airport spending a good deal of time with Francis Xavier, who was working. The 21-year-old Robin is eager to take advantage of his opportunity with Gujarat Titans, a team that is recognized for supporting up-and-coming players during their first season in the league. Robin's journey into cricket started in an unusual way when his father made him a wooden bat after observing that his son enjoyed striking pebbles with sticks. Francis made sure Robin had the tools he needed to follow his love despite his financial struggles, even if it meant taking out loans or forgoing necessities. The family's sacrifices were rewarded when Robin, who the cricket world lovingly referred to as ""Ranchi ka Gayle"" due to his aggressive batting style, gained prominence."

Published 08 Mar 2024 05:42 PM

OYO To Launch 13 Self-Operated Hotels Under Premium Brand ‘Palette’ This Year

OYO To Launch 13 Self-Operated Hotels Under Premium Brand ‘Palette’ This Year

"SUMMARY Using a format akin to OYO Rooms, the business plans to open Gujarat's Morbi as the first independently run location under the ""Palette"" brand. Last year, Oravel Stays introduced ten hotels under the Palette brand as part of a test program in cities like Mumbai, Hyderabad, and Jaipur. OYO CEO Ritesh Aggarwal said last month that the company has doubled its PAT to INR 30 Cr in Q3 FY24, marking the second consecutive profitable quarter for the firm. By the end of this year, parent company Oravel Stays, a prominent player in the hospitality industry, plans to launch 13 independently run hotels under the upscale ""Palette"" brand. The business said in a statement on Thursday (March 7) that it will launch the concept by building a Palette hotel in Morbi, Gujarat, replicating an OYO Rooms model.  By the end of this year, Oravel Stays, the parent company of Oyo, a significant player in the hospitality industry, wants to open 13 upscale hotels under the Palette brand. The business established ten Palette resorts in Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar, and Bengaluru as part of a pilot program last year. With this, there will be 23 hotels operating under the Palette brand overall. Similar to Oyo's hotels, the Palette hotels will run on a ""self-operated"" model. As a result, the corporation won't need to invest much capital in this move. This will be the company's reintroduction of its self-operated concept, which it abandoned in 2020. The company added that it will assume direct operational control of a few Palette hotels in high-growth and potential regions in order to guarantee improved guest experience and service delivery. Morbi, dubbed the city of ceramics in India, is a major economic center in Gujarat, according to Oravel Stays. Ninety percent of India's tile output is produced in the district, which is home to around 800 tile factories with an annual revenue of roughly Rs 50,000 crore. We can't wait to open our first independently run Palette hotel in Gujarat, and Morbi is the ideal place to do it. Morbi is a significant market for us because of its thriving economy and expanding commercial prospects, according to Aditya Sharma, commercial Head, Oravel Stays."

Published 08 Mar 2024 05:37 PM

Accenture to acquire edtech Udacity to accelerate capabilities of Accenture LearnVantage

Accenture to acquire edtech Udacity to accelerate capabilities of Accenture LearnVantage

"Accenture, a technology corporation, recently revealed that it will invest $1 billion over the course of the following three years in Accenture LearnVantage, a new initiative. The goal of the development is to meet the pressing demand for data, AI, and technological capabilities across businesses. The company plans to acquire Udacity, an educational platform, in order to improve its capacity to provide customized, industry-specific training on a large scale.Reducing the skills gap with individualized education LearnVantage is intended to assist businesses in promptly recognizing and closing the skills gap caused by the swift growth of technology. The platform offers a variety of tailored learning experiences and serves a broad clientele, including company executives and board members who want to learn about generative AI and IT workers who require specific training in AI, data science, cloud, and cybersecurity. The tactical purchase of Udacity Accenture made a calculated strategic move when it acquired Udacity, an edtech platform with its headquarters in California that is well-known for its certified job-ready skills. With Udacity's experience with scalable learning technologies, professional services, and exclusive content, the agreement is anticipated to greatly enhance Accenture's learning and training offerings. Accenture will benefit from the addition of over 230 Udacity professionals, expanding its talent pool and capabilities. Putting money into labor forces. Accenture has always been committed to upskilling; the company provides about 40 million training hours annually and spends more than $1 billion on learning and training for its employees. Accenture hopes to further this commitment to its clients by assisting them in becoming independent ""talent creators"" through LearnVantage. It is anticipated that the development will enable clients to fully utilize the opportunities presented by technological transformation, spurring creativity and corporate expansion. Establishing a cooperative learning environment Accenture LearnVantage is going to work with top technology ecosystem partners like Microsoft, Google Cloud, and Amazon Web Services to deliver industry-relevant technology training along with state-of-the-art generative AI material. Additionally, the platform will provide certification services and nanodegrees, guaranteeing that students obtain practical experience and acquire abilities that are immediately useful in the field. "

Published 08 Mar 2024 05:36 PM

Shaadi.coms Anupam Mittal pleads with FM Sitharaman to ease KYC paperwork.

Shaadi.coms Anupam Mittal pleads with FM Sitharaman to ease KYC paperwork.

"Anupam Mittal, the creator of Shaadi.com, requested the Finance Ministry's help in streamlining the know-your-customer (KYC) documentation process for startups and angel investors, citing his concerns about the drawn-out and tiresome procedure. The Shark Tank India judge emphasized the importance of enacting laws that create an atmosphere that is favorable for Indian companies in his most recent article on X. The Income Tax Department responded to Anupam Mittal's post on X by asking him to send a letter containing a specific concern or question to the department so that the relevant personnel might ""get in touch"" with him. Even as we speak of being a startup nation, we require policymaking that is progressive. Every year, instead of concentrating on creating amazing businesses, the team spends an excessive amount of time providing KYC information to startups, who then work with several angel investors to get the paperwork submitted with @IncomeTaxIndia. ""Why is this harassment happening?,"" Anupam Mittal posted on X, tagging Finance Minister Nirmala Sitharaman and the Income Tax Department. Additionally, Mittal emphasized that extensive documentation is not necessary because the Income Tax department already has all the information on the majority of registered investors. Mittal commented, ""Madamji dekhiye pls, it's an unnecessary waste of time that sucks up countless unproductive hours of our time,"" tagging Finance Minister Nirmala Sitharaman's official X accounts. brightest in the nation at @PMOIndia. "Please write to us with your specific issue/query (along with PAN & your mobile number) via email at orm@cpc.incometax.gov.in so that our team can get in touch with you,"" the IT department said in response to the founder of Shaadi.com's post. Fintech and startups facing KYC issues In response to the I-T department's statement, Mittal stated that his primary concern was the cumbersome process of completing KYC documentation with the I-T department, without highlighting a single problem. The founder of Shaadi.com made these remarks about onerous KYC paperwork at a time when Paytm Payments Bank is being investigated by the Reserve Bank of India for a number of reasons, including complaints about procedural errors in its KYC system. Recently, Nirmala Sitharaman chaired a meeting with start-up and fintech ecosystem organizations to address the digitization and simplification of KYC across all fintech segments. The cost of lending for important locations, ownership and control changes for fintech companies that are listed to help them comply with regulations, and cybercrime concerns were among the other topics covered in the conference."

Published 08 Mar 2024 05:32 PM

Shadowfax raises $100 million Series E round led by TPG New Quest

Shadowfax raises $100 million Series E round led by TPG New Quest

"Mumbai: Shadowfax, a modern logistics services provider, announced on Tuesday that it has raised $100 million for its Series E round, which is being led by TPG NewQuest, through a combination of primary and secondary funding. Those with knowledge of the situation claimed the deal values the nine-year-old company at $500-550 million, though specifics of the valuation were not made public.According to a press statement from Shadowfax, the round also included participation from current investors Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital. The news of NewQuest's interest in the business was initially reported by Mint. To date, the company has raised close to $120 million from investors, including Flipkart, Qualcomm Ventures, Eight Roads Ventures, and US investment firm NGP Capital. Eight Roads Ventures, an early investor in the business that has supported it since its Series A in 2015, made a partial exit through this round, according to ShadowFax. In an interview with Mint, cofounder and CEO of Shadowfax Abhishek Bansal stated that the company has been growing profitably over the last four quarters, with an annualized revenue run rate of ₹2,400 crore for FY24. By March 31, 2024, it hopes to have closed its first year with a positive Ebitda. Bansal stated, ""We will be actively looking for more inorganic opportunities, given that we are already profitable."" The company also intends to list on Indian bourses over the next 24 months. Shadowfax intends to use the additional funding over the course of the next 18 months to expand last-mile delivery over all 20,000 Indian pin codes and increase its middle-mile network.  A portion of the money generated will be put toward expanding Shadowfax's express delivery network and creating services for direct-to-consumer (D2C) brands. Due to the rapid growth of trade in the nation, logistics companies now need to operate quickly. We intend to enhance our technology capabilities and develop middle-mile delivery in order to establish ourselves as a fully-fledged courier within the 3PL space,"" Bansal said. The company, which was founded in 2015 by Bansal, Vaibhav Khandelwal, Gaurav Jaithliya, and Praharsh Chandra, provides services to online-first brands that range from pharmacy and food delivery services to larger e-commerce logistics. 30-minute deliveries are available for speedy commerce. ""Shadowfax is transforming India's e-commerce logistics industry. Their developed technology stack has impressed us. According to Amit Gupta, partner and head of TPG NewQuest's India and Southeast Asia, ""this helps with the delivery of superior service metrics and allows them to quickly adapt their services to client's changing needs at the lowest price."" "

Published 08 Mar 2024 05:30 PM

Luminous Power Technologies puts the spotlight on #WomenInEnergy

Luminous Power Technologies puts the spotlight on #WomenInEnergy

In honor of International Women's Day, Luminous Power Technologies today released a digital short as part of their motivational campaign, #WomenInEnergy. The video, which is told from the perspective of a kid, masterfully depicts the prejudices and stereotypes that are pervasive in society regarding women in particular domestic contexts, such as a home terrace. Now in its second year, Luminous' #WomenInEnergy campaign seeks to inspire a better future for future generations while challenging gender preconceptions and biases that currently exist in the energy sector. The video, which was conceived by Autumn Grey, focuses on the routine domestic tasks that get accepted because they are only performed by female family members. With a small child watching his mother go about her daily business on the patio, In the film, those being taken up by other family members are beautifully shown, and the mother's role as a solar technician under the Luminous training program is shown. In this story, a boy challenges the idea of bias by judging his mother's worth by the labor she does on their terrace. Recognized for its creative energy solutions, the brand breaks beyond apparent bias to deliver a unique message. The idea of the IWD video was discussed by Neelima Burra, Chief Strategy Transformation and Marketing Officer of Luminous Power Technologies. She stated, "Although society has made significant progress and moved the needle for women in certain professions, there is still a lot to be addressed." Our movie emphasizes the need to change people's perspectives to embrace gender-neutral roles and provide everyone the same opportunity. Even if women have all the qualifications needed to work in the energy sector, they are nevertheless perceived as having a disproportionate number of men in technician positions. This movie will encourage viewers to reflect and alter their viewpoints. To hasten the nation's energy transition and promote the installation of solar PV rooftops, we must capitalize on the talent of women. The goal of our campaign, #WomenInEnergy, is to change people's perceptions and make careers for women in fields like solar technician practical and appealing. Luminous Power Technologies' chief human resource officer, Shikha Gupta, "The purpose of this film is to inspire viewers to think of traditionally male-dominated professions as safe and growth-oriented environments for women as well, such as solar technician." This movie offers a comprehensive message about the value of family support, which is the cornerstone for empowering women in non-traditional roles. When attitudes shift and everyone in the family assumes more responsibility for the home, closing the current gender gap will actually happen.

Published 08 Mar 2024 05:27 PM

Shoppers Stop empowers women to embrace their choices fearlessly with #Don’tStop campaign

Shoppers Stop empowers women to embrace their choices fearlessly with #Don’tStop campaign

"Shoppers Stop launched the #Don'tStop campaign, which was created by Makani Creatives, in honor of Women's Day. The initiative aims to eliminate the biases and social pressures that women experience in the fields of fashion and beauty. Because of the unattainable standards that society has established, women—who are frequently the targets of unrelenting scrutiny and judgment—find themselves doubting their decisions and lacking confidence. The #Don'tStop campaign exhorts women to not hold back and to bravely embrace their choices. In the video, a girl receives criticism for being judged as ""Too Flashy,"" ""Too Bold,"" ""Too Revealing,"" ""Too Tight,"" ""Too Wild,"" and ""Too Fake,"" which is a reflection of the judgment many women face in all spheres of life. This realization served as the basis for Shoppers Stop's campaign, which encourages women to live freely and openly, without fear of repercussion. Women are frequently told what to dress, how to look, and how to portray themselves in society. #DontStop encourages women to reject these expectations and embrace their individuality. As longtime creative partners of Shoppers Stop, Sameer Makani, co-founder of Makani Creatives, commented on the campaign, saying, ""We wanted this topical campaign to authentically reflect the brand's ethos."" Our inspiration came from fashion, which is one of the most potent mediums for expressing oneself. The campaign is a powerful reminder to ignore unfavorable remarks and make decisions that suit one's comfort level and own preferences. ""We were struck by the power of simplicity in the storytelling and yet the impact it had on every woman in the room when team Makani presented the idea,"" Shwetal Basu, chief marketing and communication officer at Shoppers Stop and customer service associate, continued. It strikingly conveys the idea that, as a company, we are ardent supporters of self-assurance, tenacity, and inclusivity, opening doors for each and every woman to embrace her personal style."" The goal of the campaign film is to support women's uniqueness and give them the freedom to live boldly without fear of criticism or judgment."

Published 08 Mar 2024 05:25 PM

ICICI Prudential Mutual Fund launches ‘Sapno ki Kishte’ campaign for Womens Day

ICICI Prudential Mutual Fund launches ‘Sapno ki Kishte’ campaign for Womens Day

"The commercial draws attention to the financial difficulties that women encounter and stresses the significance of using SIP to secure one's future. In honor of International Women's Day, ICICI Prudential Mutual Fund is launching Sapno ki Kishte, a new campaign that follows a mother and her son on their journey. The ad portrays the woman's unwavering will to fulfill her son's ambition of getting a car despite her daily obstacles with a moving story. The ad emphasizes the significance of women being financially literate and safeguarding their futures by using the Systematic Investment Plan (SIP) path.  The campaign highlights women's tenacity and daily sacrifices while highlighting their critical role in influencing their families' goals and objectives. Viewers see a woman's everlasting fortitude and perseverance as the story progresses. Abhijit Shah, ICICI Prudential AMC's head of marketing for digital and client experience, emphasized the significance of the campaign in honoring and appreciating the accomplishments made by women. He said, ""We at ICICI Prudential Mutual Fund think that everyone should be able to reach their financial objectives, no matter what their situation. We hope to celebrate women's unwavering spirit and the way Mutual Funds provides a means for them to safeguard their families' futures through this campaign. The ad emphasizes the advantages of using mutual funds as an investment vehicle to achieve long-term objectives and provide financial security. ICICI Prudential Mutual Fund is still dedicated to helping people achieve financial independence. The company's many digital outlets, including Facebook, Instagram, and YouTube, will be used to reach a large audience for the campaign. The campaign highlights women's tenacity and daily sacrifices while highlighting their critical role in influencing their families' goals and objectives. Viewers see a woman's everlasting fortitude and perseverance as the story progresses. The ad emphasizes the advantages of using mutual funds as an investment vehicle to achieve long-term objectives and provide financial security. In order to support people on their path to financial independence, ICICI Prudential Mutual Fund continues to provide a broad choice of investment solutions that are geared towards meeting various needs."

Published 08 Mar 2024 05:23 PM

TATA IPL on digital streaming is set to reinvent the stage for advertisers

TATA IPL on digital streaming is set to reinvent the stage for advertisers

"TATA IPL 2024 is more than just a massive cricket match. For advertisers wishing to maximize their effect and reach, it's the ideal venue. The competition, which has the potential to reach 650 million viewers, will present unmatched chances to engage and interact with a wide range of Indian audiences, regardless of whether they are viewing the match on 4G feature phones or 5G-enabled 4K devices. With its extensive IPL ad suite this year, JioCinema is going all out to make it simpler than ever for companies to engage with viewers. The possibilities are genuinely unlimited with live streaming available across 19 channels, exclusive IPL content available in different Indian languages, and more than 100 cohorts to target. Marketers now have a rare chance to enthrall consumers and strengthen their brand's visibility. The IPL will be viewed on CTV devices by more than 200 million cricket enthusiasts. Of these, at least 25% will watch the event on state-of-the-art 4K devices and support their favorite team. From investing, dining out, entertainment, consumer durables, travel, and beauty and personal care, these ultra-premium viewers enjoy the best. Throughout the IPL, they are every marketer's dream due to their tremendous spending power and passion for exclusive cricket events! The fact that fans may view the matches for free on any devices—even 4G feature phones—makes TATA IPL 2024 even more special. It will make the IPL more accessible to a wider audience and enable marketers to engage with untapped markets that were previously only accessible through audio advertisements. Jio 4G feature phones will be used by 35–40 million consumers to view the Indian Premier League, offering sponsors chances to reach these genuinely incremental audiences with creative multimedia ad placements like pre-roll roadblocks, personalized communication, and coverage ownership. During TATA IPL 2024, advertisers can target specific audiences with over 100 audience groups using a variety of ad innovations. The strategy will be incredibly focused and granular, with an unprecedented scope and reach due to the highest number of cohorts available on LIVE sports. These cohorts will open up IPL advertising to companies of all sizes. Additionally, it lessens the likelihood of waste of advertising budget, addressing a major issue for marketers. JioCinema is expanding IPL affiliations to small companies and local stores in order to further improve accessibility, providing effective solutions that are priced affordably. This effort ensures that any brand, regardless of size, can take use of this unmatched platform to maximize reach and engagement. It also expands the horizons for these businesses and magnifies the impact of IPL advertising. The 'IPL brand' has tremendous potential that a small firm planning an expansion might use to attract new customers while staying inside a certain budget. This is a calculated action that strengthens the credibility of the advertising message, fosters brand trust, and makes it easier to enter undiscovered areas."

Published 08 Mar 2024 05:20 PM

Canara HSBC Life Insurance launches iSelect Guaranteed Future Plus digital campaign

Canara HSBC Life Insurance launches iSelect Guaranteed Future Plus digital campaign

"As part of their most recent digital promotion, Canara HSBC Life Insurance has released three distinct films on their own social media channels, each of which highlights a key element of their most recent digital product, ""iSelect Guaranteed Future Plus."" The non-linked non-participating individual savings life insurance plan, created to meet a range of financial needs, guarantees a stable future for loved ones, and the campaign presents poignant tales via various life circumstances. Essential life insurance and guaranteed benefits are provided by iSelect Guaranteed Future Plus to safeguard customers' financial security throughout their entire lives. The program is made to adjust to your evolving milestones, so it will make sure your financial objectives are met on schedule. It offers peace of mind with customized alternatives that offer essential coverage and assured advantages, like as returns on your investment. The future is safe whether you go for stability, daily expense coverage with a complete premium refund, or quick cash assistance. The plan is designed to meet policyholders' financial goals and milestones, reflecting Canara HSBC Life Insurance's commitment to ensuring their customers' financial well-being throughout life's many stages. ""Through our new digital campaign, We aim to portray various life scenarios, illustrating the importance of building a financial plan to fulfil one's bigger promises and aspirations,"" says Canara HSBC Life Insurance Chief Strategy Officer and Distribution Officer Rishi Mathur. Our newest, top-notch product, iSelect Guaranteed Future Plus, offers excellent guaranteed returns and a thoughtful financial tool that ensures income and returns while preserving our clients' financial security. The most important takeaway from this is that you need a plan to assist you get ready to fulfill the larger promises made keeping your word to your loved ones and overcoming obstacles in life. ""As part of their most recent digital promotion, Canara HSBC Life Insurance has released three distinct films on their own social media channels, each of which highlights a key element of their most recent digital product, ""iSelect Guaranteed Future Plus."" The non-linked non-participating individual savings life insurance plan, created to meet a range of financial needs, guarantees a stable future for loved ones, and the campaign presents poignant tales via various life circumstances. Essential life insurance and guaranteed benefits are provided by iSelect Guaranteed Future Plus to safeguard customers' financial security throughout their entire lives. The program is made to adjust to your evolving milestones, so it will make sure your financial objectives are met on schedule. It offers peace of mind with customized alternatives that offer essential coverage and assured advantages, like as returns on your investment. The future is safe whether you go for stability, daily expense coverage with a complete premium refund, or quick cash assistance. The plan is designed to meet policyholders' financial goals and milestones, reflecting Canara HSBC Life Insurance's commitment to ensuring their customers' financial well-being throughout life's many stages. "Through our new digital campaign, We aim to portray various life scenarios, illustrating the importance of building a financial plan to fulfil one's bigger promises and aspirations,"" says Canara HSBC Life Insurance Chief Strategy Officer and Distribution Officer Rishi Mathur. Our newest, top-notch product, iSelect Guaranteed Future Plus, offers excellent guaranteed returns and a thoughtful financial tool that ensures income and returns while preserving our clients' financial security. The most important takeaway from this is that you need a plan to assist you get ready to fulfill the larger promises made keeping your word to your loved ones and overcoming obstacles in life. "  

Published 08 Mar 2024 05:19 PM

India roils market with new crackdowns on booming IPO financing, gold

India roils market with new crackdowns on booming IPO financing, gold

It’s been another heart-stopping week for financial firms caught up in India’s widening crackdown on the sector.Regulators are imposing new restrictions that may curb lending and put a damper on the booming market for initial public offerings, in order to keep risks in check. Shadow banks have become the latest target, after the Reserve Bank of India this week limited lending by firms including JM Financial Products Ltd. The measures come after the banking regulator barred an affiliate of fintech giant Paytm from accepting fresh deposits, while the capital markets watchdog urged mutual fund sellers to safeguard investors against excessive froth in small-cap stocks. More such moves may be on the cards as the RBI completes inspections of some major non-banks engaged in equity markets financing, according to people familiar with the regulator’s thinking. The central bank had set up a separate team of professionals for bank supervision, which has become more detailed and comprehensive, said the people, who asked not to be identified discussing private matters. “We expect more such steps in other parts of the credit funnel,” said Pranav Bhavsar of India Independent Insight, who publishes on Smartkarma. He said the recent crackdown and hit to some shadow bank stocks “is here to stay and possibly intensify.”More such moves may be on the cards as the RBI completes inspections of some major non-banks engaged in equity markets financing, according to people familiar with the regulator’s thinking. The central bank had set up a separate team of professionals for bank supervision, which has become more detailed and comprehensive, said the people, who asked not to be identified discussing private matters. “We expect more such steps in other parts of the credit funnel,” said Pranav Bhavsar of India Independent Insight, who publishes on Smartkarma. He said the recent crackdown and hit to some shadow bank stocks “is here to stay and possibly intensify.”In January, the Securities and Exchange Board of India Chairwoman Madhabi Puri Buch spoke about her concerns. “We are unhappy about some of the malpractices that we see,” she said, referring to mule accounts and inflation of IPO application numbers. “We now have the data and we will act.” Banks, shadow lenders and fintech players are all feeling the heat. JM Financial’s shares tumbled as much as 20% on Wednesday — the limit imposed by the exchange — and the biggest intraday slide in four years, dragging down other financial stocks. Shares in IIFL Finance Ltd., another shadow lender facing RBI scrutiny, plunged by the 20% limit in each of the last two sessions. Both stocks have since recovered some losses. Paytm is still down more than 40% since its banking affiliate was barred from adding deposits after people familiar with the matter said it failed to properly vet hundreds of thousands of clients.“More instances of such actions could create an overhang” on shadow bank stocks, Morgan Stanley analysts wrote in a report.  

Published 07 Mar 2024 08:49 PM

Tech Giants Drag Down US Stocks After Torrid Rally: Markets Wrap

Tech Giants Drag Down US Stocks After Torrid Rally: Markets Wrap

(Bloomberg) -- Stocks came under pressure as a trio of tech heavyweights slid, with traders wading through mixed economic data in the run-up to Jerome Powell’s testimony to Congress.Equities lost traction after a rally that has spurred concern about sky-high valuations — especially in megacaps, leaving the group vulnerable to big moves in the face of bad news. Apple Inc.’s iPhone woes in China deepened, while Advanced Micro Devices Inc. hit a US roadblock in selling an artificial-intelligence chip to the Asian nation. And Tesla Inc. extended its rout as China shipments slumped.Bullish positioning in US technology stocks is at the highest in three years — raising the risk of a pullback, according to Citigroup Inc.’s Chris Montagu. Long positioning in Nasdaq 100 futures is “extremely extended," he said. “Trees don’t grow to the sky," said Kenny Polcari at SlateStone Wealth. “What is starting to concern some investors is whether or not some of these tech companies that have gotten stretched can in fact live up to the ‘lofty valuations’ that investors have placed on them." Wall Street also weighed data showing the US service sector cooled — even as orders and business activity picked up. Caution prevailed, with Powell heading to Capitol Hill for his semiannual testimony before Congress, where the Federal Reserve chief is expected to reiterate the lack of urgency to cut rates. The S&P 500 fell below 5,100, while the Nasdaq 100 dropped almost 2%. All megacaps fell, with Tesla extending a two-day slide to 11% and Apple dropping to the lowest since October. Treasury 10-year yields slid six basis points to 4.15%. In the latest sign of market exuberance, Bitcoin hit a record before erasing gains. Gold also reached an all-time high. Never miss an episode. Follow the Big Take podcast on iHeart, Apple Podcasts, Spotify or wherever you listen. Read the transcript.The “Magnificent Seven" — comprising Apple, Microsoft Corp., Nvidia Inc., Amazon.com Inc., Meta Platforms Inc., Alphabet Inc. and Tesla — have powered the S&P 500 to all-time peaks this year, partly fueled by the AI frenzy. The rally has left strategists scrambling to lift their 2024 targets — while raising questions on whether tech is seeing a boom or a bubble.To JPMorgan Chase & Co.’s Marko Kolanovic, the dramatic rally in US equities and Bitcoin signals accumulating froth — conditions that typically precede a bubble when asset prices rise at an unsustainable pace. Meanwhile, David Kostin at Goldman Sachs Group Inc. is among those who argue big tech’s lofty valuations are supported by fundamentals.The so-called Magnificent Seven saw its average earnings per share rise 55% in the fourth quarter compared to a year ago, according to data compiled by Bloomberg. Most of that group helped drive the Nasdaq 100 to its fourth consecutive monthly gain. “The AI craze is a modern gold rush, and the tech ‘picks and shovels companies’ are seeing earnings explode as companies buy chips and cloud space to fuel the boom," said Tom Essaye, founder of The Sevens Report. “But if AI doesn’t result in increased profitability for the rest of the S&P 500 over the coming years, then demand for AI chips will evaporate as will AI-related cloud demand." With generative AI set to be the growth theme of the decade, UBS’s Chief Investment Office continues to believe that US tech stocks should make up a substantial portion of investors’ equity allocations. However, the firm says investors with excessive exposure should consider broadening tech exposure to capture the next growth opportunities.  

Published 07 Mar 2024 08:48 PM

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