Kanika Pasricha is appointed top economic adviser by the Union Bank of India.

According to the bank's regulatory filing, the appointment has a three-year contractual term that is extendable by one year at a time for a maximum of five years assuming acceptable performance.Pasricha was previously employed by Standard Chartered Bank as a director of global research and economist. She was employed by ICICI Bank Ltd. as a chief manager and economist.Ms. Kanika Pasricha was named Chief Economic Advisor of Union Bank of India, a public sector bank with its headquarters located in Mumbai, on January 23. She was hired on a contractual basis for a three-year term that can be extended by one year at a time, with a five-year maximum term possible for good performance.Ms. Kanika Pasricha, a 38-year-old economist with over 15 years of expertise, works in the field. She graduated with a graduate degree in arts in economics from Delhi University and an MA in economics from Delhi School of Economics.She was previously employed by Standard Chartered Bank as an Economist (Director) - Global Research. Her work involves a great deal of research and data analysis to establish a connection between market measures and macro characteristics.She was also employed by ICICI Bank Ltd. as a Chief Manager and Economist.Leading Indian public sector bank Union Bank of India Limited (UBI) announced that Kanika Pasricha has been appointed Chief Economic Advisor (CEA), effective January 23, 2024. "We wish to inform you that Ms. Kanika Pasricha has been appointed as the Chief Economic Advisor of the Bank," the bank said in its exchange filing, "in terms of Regulation 30 read with Clause No. 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015."Kanika Pasricha, a 38-year-old economist, has over 15 years of expertise in the field. She holds an MA in Economics from Delhi University's Delhi School of Economics as well as a Graduate Arts degree in Economics from Delhi University.She was previously employed by Standard Chartered Bank as an Economist (Director) in Global Research. Her work involves a great deal of research and data analysis to establish a connection between market measures and macro characteristics.She was also employed by ICICI Bank Ltd. as a Chief Manager and Economist.  

ZEE stock at 130 rupees?

Given the sharp convergence of linear TV growth, Elara Securities believes ZEE may see a sharp de-rating in the P/E valuation of its broadcasting company, to at least 10 times one-year forward or below, as a result of the incomplete merger.The termination of the merger agreement by Sony India due to purported breaches of the conditions of the merger cooperation agreement (MCA) could have a significant negative impact on ZEE Entertainment Enterprises Ltd's values in the near future. A few brokerages changed their recommendations to "Sell" for the shares when Sony demanded termination fees of $90 million. With their current target prices for ZEE slashed by up to 50%, experts declared that the transaction termination is a lose-lose situation for both parties.When the company's stock declined in value in 2019 due to a problem involving promoter share pledges and a decline in business cash conversion, ZEE's corporate governance came under scrutiny. Analysts noted that the Zee-Sony combination would have resolved ZEE's low promoter ownership issue, but they also predicted that shareholder activism against ZEE management will occur in the near future.Given the sharp convergence of linear TV growth, Elara Securities believes ZEE may see a sharp de-rating in the P/E valuation of its broadcasting company, to at least 10 times one-year forward or below, as a result of the incomplete merger.ZEE's OTT service might not be able to grow in size in a market that is so fragmented and profitable; the company stated that the Ebitda margin, excluding sports losses, might converge to 14%. Elara is concerned about any additional inventory write-offs, connected parties' debt, and Disney's noncompliance with the sports contract (ICC tournaments).The main factor that increased valuation during the previous two years was the merger with Sony. However, we lower ZEE to Sell due to the termination, with a revised March 2025E objective of Rs 170 from Rs 340. However, the target price can increase to Rs 130 if the Disney deal is upheld. Another strategic or financial partner purchasing the majority of Zee's shares could give the value multiple some relief, according to Elara.According to Emkay Global, both parties stand to lose from this arrangement, especially given the rivalry from Reliance-Disney, a larger potential player. As stated in their press release, Emkay Global stated that the termination should also lead to a legal battle between the two involved corporations."We think that shareholder activism against ZEE management may potentially be sparked by this breakdown. Furthermore, we believe that ZEE will now attract more bidders for possible agreements. Because of the stock's poor competitive posture and escalating corporate governance concerns, we currently lower it from Buy to SELL (from Buy). We reduce our target from Rs 315 to Rs 175 at eight times the Dec. 25E SA broadcasting Ebitda, according to Emkay.Due to Sony's request for a termination fee, uncertainty surrounding ZEE's new strategy and partners, and actions taken by its minority stakeholders, Nuvama Institutional Equities believes that ZEE's near-term valuation will remain low. "Our favourable opinion was based on the merger. The statement read, "We are cutting FY25E/26E EPS by 16 per cent/24 per cent; downgrade to 'REDUCE' with target of Rs 190 (13 times PE FY26E)," in light of the shifting dynamics of the business and the slower ramp-up of ad income. In addition, CLSA lowered its target price for ZEE from Rs 300 to Rs 198 since it thinks the competition will likely get more fierce following the rumored Reliance and Disney Star combination. "We think ZEE's PE will drop back to the 12x levels observed before the August 21 announcement of the Sony deal. Zee's stock PE had previously depreciated amid the promoter share pledge problem (in 2019) and the decline in corporate cash conversion, according to CLSA. This was also the time of the Covid-19 second wave.  

The IT companies Accenture, TCS, and Infosys have higher brand values than Wipro.

Despite a slow growth environment and disruption from newer technologies, IT services firms Accenture, Tata Consultancy Services (TCS), and Infosys managed to increase the value of their brands.   The Brand Finance 2024 report states that the three IT behemoths ranked highest on the charts of IT brands. Accenture's $40.5 billion brand value, up 1.6% from the previous year, keeps it as the most valuable IT services brand in the world.Brand Finance research indicates that Accenture is well-positioned to seize the mega-trend—generative large language models—which is garnering a lot of attention and has the potential to completely transform industries and businesses. The second-place finish went to homegrown IT heavyweight TCS, whose brand value increased by 11% to $19.2 billion. Among global IT majors, the incremental brand value increased to nearly $2 billion from $17.2 billion the previous year, making it the highest in absolute terms. This was "driven by consistent investments in AI-readiness and a commitment to sustainability," according to a statement from TCS. The only significant provider of IT services, Wipro, which is backed by billionaire businessman Azim Premji, saw its brand value decline by 7.6% annually to $6.2 billion. Over the past few years, Wipro has lagged behind as it struggles to turn the business around in a competitive market. Additionally, a number of departures have occurred, with about ten senior executives leaving in 2023.      

Crypto Price Today: Bitcoin Falls Below $40,000, Small Gains Seen by Tether, USD Coin

On Tuesday, January 23, the price of bitcoin showed a 3.63 percent decline. As a result, Bitcoin is now worth only $39,820, or about Rs. 33 lakh. For the first time in the previous two months, the price of Bitcoin has fallen below $40,000, or approximately Rs. 33 lakh. The price of Bitcoin dropped by $1,175 (approximately Rs. 97, 635) in the last day. Most cryptocurrencies followed Bitcoin on the loss-making side of the price chart. On Tuesday, Ether saw a 4.04 percent decline. When this article was written, the price of ETH was $2,336 (about Rs. 1.94 lakh). In the past day, the price of ether dropped by $81 (about Rs. 6,730). For the first time in fifty days, Bitcoin fell below $40,000 (approximately Rs. 33 lakh) as the Bulls were unable to maintain the support line. Those new investors who made large investments during the spot ETF announcement are currently sitting at nearly a twenty-five percent loss. During the late hours of US Monday trading, altcoins also experienced a deep red decline as concerns about ETH falling below the $2,000 (roughly Rs. 1.66 lakh) mark resurfaced in the markets. The Ethereum Foundation's sale of 700 ETH for about $2,400 (about Rs. 1.99 lakh) each served as the catalyst for this. Such token foundation sell-offs typically indicate a local peak, which may have occurred prior to the Bitcoin halving.After a tremendous bull run, the cryptocurrency market is currently experiencing a healthy retreat. As ETFs increase their AUM and encourage widespread adoption of the biggest digital asset in the world, we might witness a more stable Bitcoin. The CEO of BuyUcoin, Shivam Thakral, told Gadgets360, "Top Trader Henrik Zeberg shared a new Bitcoin price prediction of $120,000 (roughly Rs. 99.7 lakh). However, we will have to wait and see how the market moves in the coming weeks."  

Briefcase To "Bahi Khata": Evolution of Budget Presentation Through Time

On February 1, Union Finance Minister Nirmala Sitharaman is scheduled to deliver the Interim Budget. Delhi, New: Finance ministers have been pictured bringing a briefcase into Parliament to present the Union Budget for decades. Nirmala Sitharaman called a 'bahi khata' in 2019 and abandoned this practice, which was a significant change. In 2021, she decided to switch to a paperless format and use a tablet that was "Made in India." It's amazing to see how the Union Budget is presented—from a briefcase to a fully digital format. The Interim Budget for FY 2024–25 is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. Following the 2024 Lok Sabha elections and the establishment of a new government, a comprehensive budget will be presented.   In 2019, Union Minister Piyush Goyal, while holding the additional charge of the Ministry of Finance, presented the last interim Budget. Ms Sitharaman presented her maiden Budget on July 5, 2019, after assuming charge as the finance minister following the Narendra Modi-led government's second consecutive win in the general elections. Let's examine the background of the Union Budget presentation exercise before the Budget 2024:  

Asset Tokenization and DeFi for the Masses: The CEO of Giottus Reveals Crypto Trends That Could Be Big in 2024

The Web3 space appears to be in a constant state of flux, with blockchain-based ideas emerging and disappearing on a daily basis. For example, the sales of non-fungible tokens (NFTs) fell to an all-time low last year, but the Ordinals subcategory of these digital collectibles was able to pique buyer interest once more. The CEO of the Giottus cryptocurrency exchange, Vikram Subburaj, provided a list of several Web3 trends that are anticipated to become popular in 2019 in an interview with Gadgets360. According to Subburaj, the mass adoption of decentralized finance (DeFi) and real world assets (RWAs) is underway this year. Digital representations of tangible or conventional assets are generated on a blockchain network as tokens via RWAs. Each token represents a different attribute and represents a portion of the entity. Asset liquidity may rise as a result of tokenization. An owner of real estate, for example, might choose to sell 50,000 tokens of a tokenized real estate rather than the entire property and forfeiting its use as a livable space. Consider them NFTs for items such as bonds, art, or even real estate. The tokenized RWA ecosystem that is currently accessible on-chain is estimated to be worth $2 billion, or approximately Rs. 17,452 crore, according to Subburaj. He also predicted that as more people become aware of the concept, tokenizing assets will likely pick up speed this year.  

Galaxy S24 Ultra vs S23 Ultra: How Samsung’s top-end phones stack up

Samsung’s flagship Galaxy S series sees its latest iteration with the new Galaxy S24 Ultra, succeeding last year’s S23 Ultra. While retaining the S series DNA, Samsung has made subtle but meaningful upgrades to the S24 Ultra’s design, display, performance, camera, and software capabilities. But are these incremental improvements compelling enough for S23 Ultra owners to upgrade? Let’s find out. The design evolution from the Samsung Galaxy S23 Ultra to the new S24 Ultra is subtle. While retaining the recognisable tall, rectangular shape with ever-so-slight rounded edges, the S24 Ultra trims a wee bit of fat, shaving off 2 grams of weight for a total of 232 grams. It also slims down by 0.3mm to 8.6mm thickness. That said, this is not exactly a dramatic reduction from the S23 Ultra’s 234 gram weight and 8.9mm thickness. And if we’re being honest, we expected more in terms of weight reduction considering the phone gets a titanium frame this year. For comparison, the iPhone 15 Pro Max saw a substantial 20-gram weight loss by shifting to titanium.A more meaningful improvement is seeing upfront of the handset, which thanks to the combination of a flat display and a trimmed bottom bezel, now features symmetrical bezels all around. The S24 Ultra also introduces an appealing new lineup of colour options. The S23 Ultra played it relatively safe with Phantom Black, Cream, Green and Lavender as widely available colours. By contrast, the S24 Ultra really embraces colour with options like Titanium Gray, Titanium Black, Titanium Violet, and Titanium Yellow for all retailers. Even bolder Titanium Green, Titanium Blue, and Titanium Orange colours join the lineup as Samsung.com exclusives. The most noticeable change with the new Galaxy S24 Ultra is that its display has been hammered completely flat. Samsung has progressively reduced the display curvature of the Ultra models over the past couple of years and it’s now finally settled for completely flat edges, with the S23 Ultra being the last holdout with curved edges. Additionally, the S24 Ultra gains a brightness boost up to 2600 nits peak compared to 1750 nits on its predecessor, which should make the screen more visible and usable outdoors. The Galaxy S24 Ultra features an upgrade in processing power over its predecessor, packing the latest Qualcomm Snapdragon 8 Gen 3 chipset. This replaces the Snapdragon 8 Gen 2 found in last year’s Galaxy S23 Ultra model.With artificial intelligence being all the rage, the upgraded Snapdragon processor aims to provide a boost to AI capabilities. Qualcomm’s already shown that the new chip brings faster performance when using large language models, Stable Diffusion, generative AI applications and more that leverage machine learning.The new chip is also engineered to deliver enhanced graphics for mobile gaming without sacrificing battery life. However, we’ll have to get our hands on the S24 Ultra to see if these performance gains are as substantial as promised over the previous generation. Samsung’s flagship Galaxy S series has seen incremental upgrades over the past few generations, with no major leaps forward each year. However, with the launch of the Galaxy S24 Ultra, Samsung is focusing on revolutionary AI capabilities rather than minor spec bumps. The standout upgrade in the S24 Ultra is Galaxy AI, a suite of useful AI-powered features. While the S23 Ultra boasted impressive hardware, it simply can’t compete with the S24 Ultra’s intelligent software. Galaxy AI enables real-time translation during calls and texts with Live Translate. It also offers in-person translation with Interpreter mode. For productivity, Note Assist provides handy summaries and formatting for your notes. Chat Assist helps you strike the right tone in messages, whether chatting with coworkers or connecting on social media. And Circle to Search lets you draw a circle around anything on screen to instantly search for it.The new Samsung Galaxy S24 Ultra boasts of several AI-powered image editing and enhancement features over its predecessor, the S23 Ultra. But when you strip away the AI-powered software tricks, the hardware isn’t as different as you might expect. Let’s break it down. The S24 Ultra comes loaded with nifty new AI camera features like Edit Suggestion, which makes recommendations to improve your photos, and Generative Edit, which can fill in background details using AI. There’s also Instant Slow-mo for buttery smooth slo-mo videos. Pretty neat stuff.  

Google Pay, NPCI Sign MoU to Expand UPI Globally, Aim to Ease Digital Payments Abroad

Google Pay and National Payments Corporation of India (NPCI) will work together to expand Unified Payments Interface (UPI), the instant payments system widely used in the country, to international markets, Google and NPCI confirmed Wednesday. A Memorandum of Understanding (MoU) has been signed between Google Pay India and NPCI subsidiary, NPCI International Payments Ltd (NIPL), to bring the instant payment functionality to other countries. UPI has become a widespread mode of digital payment throughout India in recent years, with interoperability between payments apps like Google Pay, PhonePe, and Paytm. The value processed via UPI payments in 2023 stood at Rs. 167 lakh crores, according to Google.The MoU signed between Google Pay India and NIPL primarily seeks to ease digital payments abroad for travellers outside of India. The collaboration will also aid in establishing a UPI-style digital payments infrastructure in other countries, a press release for the announcement said. Additionally, Google and NPCI also aim to leverage the UPI infrastructure to ease the process of remittances between countries, thus simplifying cross-border financial exchanges. “UPI has demonstrated to the world the step change that happens in economies with the introduction of interoperable, population scale digital infrastructure and each economy that joins such networks will create impact beyond the sum of parts,” Deeksha Kaushal, director of partnerships at Google Pay India said.According to the press release, the initiative will also help bring Indian customers to foreign merchants, reducing the need for credit or forex cards and instead allow UPI apps like Google Pay for international digital payments. “This strategic partnership will not only simplify foreign transactions for Indian travellers but will also allow us to extend our knowledge and expertise of operating a successful digital payments ecosystem to other countries,” Ritesh Shukla, CEO of NPCI International Payments Limited, said. Last year, Google Pay introduced a UPI Lite feature on its platform that enables small-value digital payments with just one tap, without the need to enter the UPI PIN, as required in regular transactions. UPI Lite supports a maximum instant transaction of up to Rs. 200 at a time. Users can load their UPI Lite account with up to Rs. 2,000, twice a day.In August, the Reserve Bank of India (RBI) increased the UPI Lite transaction limit from Rs. 200 to Rs. 500. The overall wallet limit, however, was retained at Rs. 2,000 only. A month later, NPCI said that UPI transactions had crossed the 10-billion mark in August. According to the NPCI data, number of UPI transactions stood at 10.24 billion on August 30. In value terms, the transactions amounted to Rs. 15,18,456.4 crore exchanging hands.  

Volvo’s 10,000th car in India is its first pure electric offering

Volvo Car India has achieved a significant milestone by producing its ten thousandth car at its Bangalore facility. The company, which began assembly operations in 2017, has seen the highest production of the XC60 model, with over 4000 units produced to date.Jyoti Malhotra, Managing Director of Volvo Car India, in a company statement, revealed that the honour of being the ten thousandth car produced goes to the XC40 Recharge, the company's first pure electric offering.Malhotra said, "It is indeed a matter of pride for the company to have reached this milestone in a short span of time in spite of nearly three years of pandemic disruptions."Gao Feng, Production Head of Volvo Car India, highlighted the plant's achievement of rolling out India's first domestically assembled electric vehicle (EV), the XC40 Recharge. Today, the company assembles all its models in India, including the XC90, XC60, S90, XC40 Recharge, and the recently launched C40 Recharge.Meanwhile, Volvo Car India announced a 2% price increase for its conventional engine vehicles on Monday, while the prices of its EV offerings remain unchanged.Following the price hike, the XC60 is priced at ₹68.9 lakh, the S90 at ₹68.25 lakh, and the XC90 at ₹1,00,89,000.However, the prices of the XC40 Recharge and C40 Recharge remain unchanged at ₹57.9 lakh and ₹62.95 lakh, respectively.    

Tata Punch facelift launch confirmed for 2025

The Tata Punch petrol will see a mid-life facelift sometime next year. Confirming this development on the sidelines of the Punch EV launch, Tata Motors’ Passenger Vehicles Unit MD, Shailesh Chandra, said, “As far as the upgrade of the Punch is concerned, you know that it was launched in October 2021. Typical facelift period is three years. So, we should be expecting a facelift for the ICE version only in mid-2025, or slightly later.” Just like what we’ve seen on the Nexon and Harrier facelifts recently, expect Tata Motors to update the Punch SUV’s styling with fresh design cues to bring it in line with the newer Tata models. Changes to the front bumper and grille, along with minor tweaks to the headlamps and the bonnet can be expected to make the small SUV look new.Like the Nexon and the Nexon EV facelift, there will be styling bits that will help differentiate the petrol-powered Punch from the recently launched Punch EV. What’s more, Chandra also said that the Punch will have feature differences between the petrol and EV versions.   

Renault Bigster global debut later this year

The new Renault Bigster SUV will see a global debut later this year and is expected to go on sale internationally by early 2025. Revealed as a concept in 2021, it is essentially a three-row iteration of the all-new Duster, which made its global debut a few months ago.  Sources have conveyed to our friends at Motor1 Brazil that the Bigster SUV will share its design cues largely with the new Duster and the Bigster concept. Essentially, it will be most likely an elongated version of the Duster, similar to what we see with the Creta and Alcazar in India. There will, however, be styling, tech and equipment differences on the inside and out.  This new SUV from Renault will be around 4.6 metres long – nearly 0.3 metres longer than the new Duster, which measures 4.34 metres. It will get rugged looks and interior bits from the Duster, but there will be more upmarket materials and additional creature comforts to justify the SUV's higher price tag. The Duster currently has a 2,657mm wheelbase, which also could see an increment for the Bigster in order to facilitate easy ingress-egress and more cabin room. As far as the platform goes, the Bigster will share the same CMF-B modular architecture. There isn’t much known about its powertrain options, however, it will be safe to expect that the SUV will share its powertrain line-up with the latest-gen Duster, which comes with three engine options – two of which are electrified.  Starting the proceedings is the 1.6-litre four-cylinder petrol hybrid that gets two electric motors; this engine comes with an automatic gearbox. It also comes with regenerative braking and a 1.2kWh battery, enabling purely electric driving for up to 80 percent of the time in the city.The next engine is the 130hp, 1.2-litre three-cylinder turbo-petrol coupled with a 48V starter motor. While the Duster will also come with a 1.0-litre petrol-LPG option in some markets, there is no diesel option in any market right now. The next engine is the 130hp, 1.2-litre three-cylinder turbo-petrol coupled with a 48V starter motor. While the Duster will also come with a 1.0-litre petrol-LPG option in some markets, there is no diesel option in any market right now.  

JLR India launches Discovery Sport 2024 at Rs 67.90 lakh

JLR India today launched the Discovery Sport 2024 in the country at a starting price of Rs 67.90 lakh (ex-showroom). The 2024 model comes with a price cut of Rs 3.49 lakh over the 2023 model.The Discovery Sport 2024 is available in Dynamic SE with two engine options - 2.0-litre petrol (245hp and 365Nm) and 2.0-litre Ingenium diesel (201hp and 430Nm). Both engines are mated to an automatic transmission. The new Discovery Sport gets subtle exterior updates. There is a contrast roof and exterior accents, including Discovery script, grille, lower body sills and lower bumpers, all having a distinctive Gloss Black finish. There is Gloss Black front claw detailing on the bumpers and wheel arches. There are 19-inch diamond-cut alloys. The SUV also gets a new Varesine Blue exterior paint option.JLR India today launched the Discovery Sport 2024 in the country at a starting price of Rs 67.90 lakh (ex-showroom). The 2024 model comes with a price cut of Rs 3.49 lakh over the 2023 model. JLR India today launched the Discovery Sport 2024 in the country at a starting price of Rs 67.90 lakh (ex-showroom). The 2024 model comes with a price cut of Rs 3.49 lakh over the 2023 model.The new Discovery Sport gets subtle exterior updates. There is a contrast roof and exterior accents, including Discovery script, grille, lower body sills and lower bumpers, all having a distinctive Gloss Black finish. There is Gloss Black front claw detailing on the bumpers and wheel arches. There are 19-inch diamond-cut alloys. The SUV also gets a new Varesine Blue exterior paint option.You now get a digital instrument cluster and steering wheel-mounted gearshift paddles as standard, while the redesigned centre console boasts a new floating 11.4-inch curved glass touchscreen. The latest Pivi Pro infotainment set-up features permanently accessible sidebars, which provide shortcuts to key vehicle controls and functions, such as media, volume, climate and navigation. There is a panoramic glass roof as well.The SUV has wireless Apple CarPlay and Android Auto as standard and a wireless charger. A natural shadow oak trim finisher surrounds a new gear shifter. Discovery Sport Dynamic SE features DuoLeather interiors with up to two colour options.