HeroMotoCorp unveils CE001 Limited Edition: A tribute to founder on 100th birth anniversary

HeroMotoCorp, the renowned two-wheeler giant, stole the spotlight at the Hero World 2024 event with the dazzling showcase of the Mavrick and Xtreme 125R. However, the real showstopper turned out to be the unexpected unveiling of the highly anticipated CE001 limited edition motorcycle. This exclusive model, based on the new Hero Karizma XMR 210, is set to capture the hearts of motorcycle enthusiasts, as it pays homage to Hero Group's founder, Dr. Brijmohan Lall Munjal, on his 100th birth anniversary.Marking a significant milestone, the Hero CE001 represents the company's first foray into crafting limited edition offerings for its customers. Described by the manufacturer as the "most special bike built in India," this commemorative edition is a testament to the legacy of Dr. Brijmohan Lall Munjal and the rich history of the Hero Group. The choice of the Hero Karizma XMR 210 as the base for the CE001 holds sentimental value, as the original Karizma was conceived during the tenure of Dr. Brijmohan Lall Munjal as the Chairman Emeritus. The CE001 maintains the essence of the original design, incorporating the distinctive half-fairing version that pays homage to the classic motorcycle. Adding to its allure, the limited edition motorcycle features bodywork crafted from lightweight carbon fiber, ensuring a substantial reduction in weight compared to the stock model. Riders can also expect an upright riding posture for enhanced comfort. While HeroMotoCorp has not disclosed specific details about engine modifications, it is anticipated that the CE001 will boast a power boost over the standard model. The Hero Karizma XMR, serving as the foundation, boasts a trellis frame housing a potent 210 cc single-cylinder, liquid-cooled engine, producing 25 bhp and 20 Nm of peak torque. The CE001 is expected to offer a superior power-to-weight ratio, accompanied by a range of performance upgrades, including the inclusion of an Akrapovic exhaust. The company has committed to delivering all 100 units of the CE001 by July this year, with the entire stock available for purchase online. New Delhi: The upcoming interim budget is unlikely to have any additional incentives for hybrid vehicles, people aware of discussions in the government said. A scheme, FAME-II, already exists to incentivize both hybrid and electric vehicles. In addition, a committee instituted by the ministry of heavy industries (MHI) will seek the Indian auto industry’s views on the possibility of reducing taxes on hybrid vehicles. According to documents released by the U.S. National Highway Traffic Safety Administration, Tesla acknowledges that software instability may impede the display of images from the backup camera while the vehicle is in reverse, thereby heightening the risk of a potential collision. Tesla emphasizes in the documents that it is currently unaware of any reported crashes or injuries related to this issue. The problem has reportedly been rectified through an online software update.Owners of the affected vehicles will receive notification letters starting March 22.  

Ola founder’s Krutrim turns unicorn after raising $50 mn

BENGALURU: Ola founder Bhavish Aggarwal’s AI start-up Krutrim has turned unicorn after raising $50 million in equity. The round was led by investors including Matrix Partners India and others. Krutrim also becomes the country’s first AI start-up to attain a unicorn status. The funds raised will be instrumental in accelerating the company’s mission to revolutionise the AI landscape, drive innovation, and expand its reach globally, the start-up said. Bhavish Aggarwal, founder of Krutrim said, “India has to build its own AI, and at Krutrim, we are fully committed towards building the country’s first complete AI computing stack.” “We are thrilled to announce the successful closure of our first funding round, which not only validates the potential of Krutrim’s innovative AI solutions but also underscores the confidence investors have in our ability to drive meaningful change out of India for the world.” Last month, Krutrim unveiled its base Large Language Model (LLM). With the largest representation of Indian data used for its training, it powers generative AI applications for all Indian languages. Trained by a team of leading computer scientists, based in Bengaluru and San Francisco, this model will power Krutrim’s conversational AI assistant that understands and speaks multiple Indian languages fluently, it said. Krutrim is a family of Large Language Models, including Krutrim base and Pro that will have multimodal, larger knowledge capabilities, and many other technical advancements for inference. Trained on over 2 trillion tokens, Krutrim accomplishes better performance on multiple well known, global, LLM evaluation benchmarks including MMLU, HellaSwag, BBH, PIQA and ARC, the start-up said. Krutrim will be available in beta version for consumers in February 2024. Additionally, it will also be available as an API for enterprises and developers, seeking to create AI applications. The company is working on AI infra to develop indigenous data centers and eventually, server-computing, edge-computing and super-computers.  

Yes Bank Q3 Results: Net profit soars 349.7% to Rs 231.6 crore; asset quality stable

Yes Bank Ltd's fiscal third-quarter profit surged more than fourfold but fell short of analysts' estimates. Net profit rose to Rs 231.6 crore for the quarter ended December 31 from Rs 51.5 crore a year ago, the bank said in a statement to stock exchanges on January 27. That compares with the Rs 415.1 crore quarterly profit estimate of brokerage Emkay Global.The lender's gross non-performing assets (NPA) remained steady at 2 percent in the three months ended December 31, while net NPA improved to 0.9 percent.  Net interest income (NII) increased 2.3 percent from a year earlier. Operating profit rose 5.4 percent to Rs 864 crore.The bank also reported a 13.2 percent growth in deposits to Rs 2.4 lakh crore from last year. The current and savings account ratio (CASA) saw a slight decline to 29.4 percent in the quarter ended December 31 from 29.7 percent in the year earlier.  

Bajaj Finance Q3 Preview: NII to rise 26%, net profit to jump 25% on strong AUM growth

All eyes will be on Bajaj Finance on January 29 as the non-banking financial company (NBFC) will declare its December quarter results. As per a poll of six brokerages, the lender's consolidated net profit is expected to rise 25 percent year-on-year to Rs 3,716 crore. An average of four brokerages shows that net interest income is expected to rise 26 percent YoY to Rs 9,344 crore. Stable asset quality and strong AUM (assets under management) growth will drive earnings, as per analysts. Bajaj Finance, on January 3, declared provisional numbers for the December quarter AUM. On the back of a strong festive season, the company's AUM crossed the Rs 3-lakh-crore mark for the first time in the quarter gone by, surging 35 percent YoY. As per the Q3 update, its deposit book grew by 35 percent to Rs 58,000 crore. During the quarter, it booked 98.6 lakh new loans, a YoY growth of 26 percent.According to domestic broking firm Motilal Oswal Financial Services margins and spreads are likely to decline sequentially by ~25 basis points and 15 basis points, respectively. Credit costs are expected to rise ~10 basis QoQ to ~1.7 percent. Axis Securities also sees margins declining by ~10-15 basis points QoQ owing to an inch-up in cost of funds. Inching up of the cost of funds is an industry-wide trend, noted Jefferies, due to the lagged repricing of MCLR-linked loans. In November 2023, the Reserve Bank of India asked Bajaj Finance to stop issuing new loans through its “eCOM” and “Insta EMI Card” for non-compliance with digital lending guidelines. It is important to watch out for management commentary on the same. Bajaj Finance Q3 results also come after RBI's caution against unsecured lending and risk-weightage increase for consumer credit. While analysts are confident of Bajaj Finance's liquidity position on the back of Rs 10,000 crore fundraising, it will be crucial to monitor management commentary on how Bajaj Finance's borrowing mix will change going ahead as banks' lending to NBFCs slows down. Apart from that, the Street will also be monitoring how new products are scaling up and if any segments are showing signs of stress.  

Day 2 Box Office Collection for Fighter: Deepika Padukone and Hrithik Roshans eyes The ₹100 crore club

Day 2 of Fighter Box Office Collection: The film, starring Hrithik Roshan and Deepika Padukone, was released on January 25, one day ahead of Republic Day. During the second day of the national holiday, the movie gained momentum and earned over 1.5 times its opening day total.During its two-day run in theaters across all languages, "Fighter" brought in a net collection of ₹61.5 crore in India, according to film industry tracker Sacnilk. On Republic Day, the movie earned ₹39 crore in net revenue. On the day of its release, it brought in ₹22.5 crore in India across all languages.Fighter Box Office Collection Day 2: During its two days in theaters, the movie "Fighter" has made a net collection of ₹61.5 crore in India. On Friday, its Hindi version had an overall occupancy rate of 41.57%.After making a reasonable (albeit not very impressive) Rs 24 crore on the first day, the big-budget Hrithik Roshan flick Fighter truly took off on the second day. Due to favorable buzz about the film's airborne action sequences, Fighter's profits on its second day of release—which fell on Republic Day holiday—are predicted to have soared by more than 70%. This raises the domestic two-day total of the film to Rs 61 crore. The anticipated amount for the domestic launch weekend is between Rs 120 crore and Rs 150 crore.Siddharth Anand's patriotic action film Fighter follows the lives of a few Air Force fighter pilots during a conflict. Supporting roles go to Karan Singh Grover and Akshay Oberoi in addition to Deepika Padukone and Anil Kapoor. According to Sacnilk, Fighter reported occupancy rates of 41% for the 2D standard version and 42% for the 3D edition. For both of the film versions, evening performances drew the majority of viewers. Chennai recorded occupancy of over 80% of its capacity, but Mumbai and the Delhi NCR area reported occupancy of roughly 50%. Fighter is not being marketed as a pan-Indian film, despite current trends. The first-day box office receipts for the film did not quite match the high expectations that Hrithik has set for himself recently (his two previous films with Siddharth Anand had larger debuts); nonetheless, they did signify a return to form for the actor, who was thought to have underperformed in his last film, Vikram Vedha. Fighter will beat the roughly Rs 80 crore that Vikram Vedha completed its domestic run with on day three alone.War remains Hrithik Roshan's highest-grossing movie to date, taking in over Rs 470 crore worldwide after earning Rs 53 crore the previous year. After its premiere at Rs 27 crore, Bang Bang made over Rs 350 crore globally. Siddharth, Deepika, and Anil Kapoor recently wrapped their successful film projects. The most recent film in which Anil appeared was the controversial hit Animal, whereas Siddharth and Deepika worked together in the Shah Rukh Khan movie Pathaan.  

By2029, the media, advertising, and entertainment vertical will represent a $17.9 billion opportunity.

ResearchAndMarkets.com now offers the "Generative AI Market by Technology, Component, Application, Industry Vertical, and Region 2024-2029" report.The expected effects of the generative AI industry are evaluated in this research across multiple domains, such as ChatGPT in software, general-purpose platforms, IoT systems, and embedded consumer products. In addition to discussing the potential applications and use cases in several business verticals, the research also examines the underlying relationship between generative AI and AGI, ASI, and strong AI, as well as the influence of enabling technologies like 5G, business 4.0, MEC, self-driven networks, and others.A few of the report's findings: Through 2029, North America will dominate the worldwide generative AI market. Through 2029, the top industry vertical for generative AI will be healthcare. Through 2029, API-enabled solutions will have the fastest rate of growth (CAGR of 47%). By 2029, generative AI services will have grown to a $2.5 billion market at a 43.9% CAGR. By 2029, the media, advertising, and entertainment sector will represent a $17.9 billion potential.Artificial intelligence that can create unique and novel data or content, including literature, music, or graphics, is known as generative AI. Generative AI use algorithms to produce new data that did not previously exist, in contrast to other forms of AI that are intended to identify and categorize existing data. In order to accomplish this, the data is analyzed for patterns and relationships, and new content is created in response to those patterns.New models and architectures are being developed to enhance the diversity and quality of generated content as a result of the rapid advancement of technology. The use of technologies like GANs, transformers, and VAEs made it possible to create generative models that are more intricate and lifelike. To guarantee the moral and equitable use of technology, there were still issues to be resolved in areas like bias and data privacy.The growing requirement for automation and the expanding use of generative AI across a range of industries are driving the industry. Large datasets and the development of deep learning algorithms have also contributed to the market's expansion.  

This chart shows how Tesla can keep cutting prices and stay ahead of the competition

Tesla keeps lowering the price of its cars.It's taken a margin hit, but its input costs are going down too.Tesla's price war sent shock waves through the industry, and the fallout is far from over.Still, Elon Musk's electric automaker is lapping the competition as old-guard automakers like Ford and General Motors switch to electric vehicles.That's in large part thanks to tremendous cost savings found in manufacturing.The average cost of building a Tesla in the fourth quarter fell once again, according to the company's earnings report released Wednesday. On average, Tesla spent just over $36,000 per vehicle it sold in the October to December period, down from over $37,000 per vehicle in the same quarter in 2023.At the same time, Tesla has been selling its vehicles for cheaper, showing Tesla's might over its competitors when it comes to EV pricing.Tesla has always had a lot of room to run on pricing, given its industry-leading profit margins. But Elon Musk's strategy to slash prices has chipped away at its once-40% gross margins, bringing them down to 17.6% in the fourth quarter.Still, that's far above the industry average of around 9%.While Tesla continues to play with prices, other automotive CEOs have warned against the practice. Stellantis CEO Carlos Tavares said last week he was keen to stay out of any EV price wars, but stopped short of mentioning Tesla by name. "If you go and cut pricing disregarding the reality of your costs, you will have a bloodbath. I am trying to avoid a race to the bottom," he said.Last year, Ford CEO Jim Farley compared Musk's strategy to that of Henry Ford."I think what he's going to learn is product freshness means a lot," Farley said of Musk at the time. "The product gets commoditized and then you lose your pricing premium. That's a really dangerous thing."  

Market Outlook for 25 January 2024

Our markets witnessed high volatility ahead of the F&O expiry day. Nifty sneaked below 21200 mark during the day, but it recovered sharply towards the end and closed above 21450 with gains of about a percent from previous day’s close. Nifty Today:     Nifty has corrected sharply in last few days from the high of 22124 to sub-21200 levels. The volatility has increased recently and when the range is broad, the 40-day EMA becomes an important level for the short term. This average support is placed around 21200 and the Nifty index has managed to recover and close well above this support in Wednesday’s session.  Although the daily RSI remains negative, the readings on the hourly charts have given a positive crossover from the oversold zone and hence, we could see a pullback move in next few sessions. Thus, although the intraday volatility could remain high, the index can see some pullback towards 21600-21700 zone while 21300-21200 would be seen as immediate support. Traders are advised to trade with a stock specific approach for a while.                                              

Indian Railway Finance Corporation share price Today Live Updates

Indian Railway Finance Corporation Share Price Today : The last day of trading for Indian Railway Finance Corporation saw an open price of ₹164.18 and a close price of ₹161.48. The stock had a high of ₹173.14 and a low of ₹150.81. The market capitalization for the company is ₹224,595.34 crore. The 52-week high for the stock is ₹160.89, while the 52-week low is ₹25.45. The BSE volume for the day was 30,763,279 shares.Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.Indian Railway Finance Corporation share price NSE Live :Indian Railway Finance Corporation trading at ₹174.21, up 1.37% from yesterday's ₹171.86. The stock price of Indian Railway Finance Corporation (IRFC) is currently ₹174.21, with a percent change of 1.37 and a net change of 2.35. This indicates that the stock has seen a slight increase in value. However, without further information, it is difficult to determine the overall trend or significance of this change.    

Share Market Highlights: Sensex, Nifty close around 1% up; Broader markets, sectoral indices rallied

Sensex Today | Share Market Highlights: After a bout of choppy trading, both the benchmark indices consolidated in the green after opening in the red. Although they had dipped in the negative zone a few times through the day.Stocks gained as investors rewarded companies for positive earnings updates and as China’s latest move to stimulate its economy boosted resources shares.Europe’s Stoxx 600 index climbed 0.8% as mining stocks jumped the most in almost six weeks after the People’s Bank of China said it would cut the reserve requirement ratio for banks on Feb. 5. The move should boost the economy by freeing up liquidity for customer loans and bond purchases. US equity futures gained, led by tech stocks, after Wall Street set fresh closing highs on Tuesday. Asian stocks advanced, with Chinese shares traded in Hong Kong extending their rally after the stimulus news. Japanese government bond yields and bank stocks jumped Wednesday as investors decided that monetary policymakers are on track to scrap negative interest rates in the near term after all.As traders increased bets that the Bank of Japan will push ahead in the next few months with its first rate hike since 2007, 10-year note yields climbed as much as 10.5 basis points. Shares of Japanese banks, who have struggled through decades of deflation, rose on expectations higher interest rates will improve their lending margins.Elsewhere, the timing and extent of expected Federal Reserve rate cuts this year have dominated markets in recent weeks with less attention paid to Japan’s central bank. That left economists looking more bullish over the BOJ’s looming move than market players. After a day of choppy trading, both the benchmark indices ended in the green, around 1% above the previous day's close, after they had opened in the red.At close, Sensex was up 689.76 points, or 0.98%, at 71,060.31, Nifty was up 215.15 points, or 1.01%, at 21,453.95.Broader market indices also closed up 1%, whereas among sectoral indices, only the Nifty Private Bank ended the day in the red.Global shares rose on Wednesday, fuelled by positive tech earnings and optimism Chinese authorities will offer support to its stock markets, while the dollar showed resilience on growing expectations the U.S. Federal Reserve won't rush to cut rates.European stocks climbed 0.8%, with tech stocks adding over 3.6% to their highest in two years. Investors are also focused on manufacturing purchasing managers' index (PMI) figures - seen as a good gauge of economic health - from the euro zone, Germany, France and Britain later in the day.The European Central Bank (ECB) meets on Thursday and is widely expected to keep rates unchanged - though traders are pricing in as much as 130 basis points of interest rate cuts this year. Wall Street was set to gain, with e-mini futures for the S&P 500 up 0.4% as investors focused on a slew of earnings. The yield on 10-year U.S. Treasury notes was last at 4.097%, while the two-year Treasury yield, which typically moves in step with interest rate expectations, was at 4.314%.Markets are now pricing in a 47% chance of a rate cut in March from the Fed, according to the CME FedWatch tool, compared to the 88% chance of a rate cut priced in a month earlier.The MSCI world equity index, which tracks shares in 47 countries, gained 0.3%. The MSCI's broadest index of Asia-Pacific shares outside Japan gained 1%. Still, the index is down around 4.7% so far this month.After a bout of choppy trading, both the benchmark indices consolidated in the green after opening in the red. Although they dipped in the negative zone a few times through the day.At 3 pm, Sensex was up 683.54 points, or 0.97%, at 71,054.09, Nifty was up 211.30 points, or 0.99%, at 21,450.10.  

Share Market Highlights 24 January 2024:

Sensex, Nifty updates on 24 January 2024: India’s equity markets are volatile on Wednesday. The ​BSE Sensex​ rose 689.75 pts or 0.98% to close at 71,060.31. The ​NSE Nifty​ jumped 215.15 pts or 1.01% to close at 21,453.95. Analysts anticipated sustained selling pressure from foreign portfolio investors, emphasizing the significance of upcoming results and heightened volatility during the monthly F&O settlement. Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, highlighted caution in global sentiments due to Fitch Group’s warning about the impact on South Asian economies and increased hostilities in the Red Sea. Technical analyst Pravesh Gour noted Nifty’s breakdown, signalling potential testing at 50-DMA at 21000, while Bank Nifty faces hurdles and support challenges.                                                                                                                                                                                                   Market Update: Sensex surges 690 points to reclaim 71k leve Equity benchmark indices Sensex and Nifty rebounded sharply by one per cent on Wednesday after sliding for the past two sessions, propelled by bargain hunting in metal, commodity, and telecom stocks. Currency Market Live Updates: Rupee ends slightly higher, aided by yuan’s uptick, dollar’s slip. The rupee ended marginally higher on Wednesday, aided by a slight uptick in the offshore Chinese yuan and a pullback in the dollar index.The rupee ended at 83.1225 against the US dollar, compared with its close at 83.15 in the previous session.Bharat Dynamics reported its standalone net profit for the quarter ended December 2023 at ₹135.03 crore as against ₹83.74 crore in December 2022. The stock closed at ₹1,696.50 on the NSE, up by 1.61%.“The market rebounded from yesterday’s sell-off taking cues from global peers. The sentiment was reinforced by the PBOC’s 0.5% cut in reserve ratio to boost growth and financial liquidity. However, overall sentiment is muted as concerns persist on FIIs selling due to premium valuations in India and below expectation Q3 earnings so far.”  

Zee-Sony Merger Called Off: These mutual funds have exposure to the stock

India's mutual fund houses have increased their stake in Zee Entertainment in all of the nine quarters since the Sony merger announcement in December 2021. As of the December quarter, the domestic mutual funds held a 32.49% stake in Zee Entertainment, which is more than double the 12.16% stake they held at the end of the December 2021 quarter when the deal was announced. The increase in stake also corresponds with the exit of its largest shareholder Invesco, which along with Oppenheimer, held close to 18% stake in Zee at the time of the merger announcement. While Invesco Developing Markets Fund exited the stock by selling its 7.8% stake in April 2022, the OFI Global China Fund earlier pared a 5% stake between October and December 2022, before making a complete exit in April 2023. Among the funds that own a substantial stake in Zee Entertainment as of the December quarter include ICICI Prudential Value Discovery Fund, Nippon India Multi-Cap Fund, and HDFC Mid-Cap Opportunities Fund, among others. Some of India's largest insurance companies, all listed, also own a stake in Zee Entertainment, including the country's largest insurer LIC, along with HDFC Life and SBI Life Insurance.