Author Archives: Sridhar P

PM Internship Scheme Round 2 Opens with Over One Lakh Opportunities

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The Prime Minister Internship Scheme (PMIS) has launched Round 2 of its pilot phase, opening over one lakh internship opportunities across more than 730 districts, the Ministry of Corporate Affairs (MCA) announced on Thursday.

Following the overwhelming response of over six lakh applications in Round 1, the scheme continues to target individuals aged 21 to 24 who are not currently enrolled in full-time academic programs or employment, providing them a platform to begin their professional journey.

Interns will receive a monthly financial assistance of Rs 5,000, along with a one-time support of Rs 6,000. Over 300 top companies spanning various sectors—including Oil, Gas and Energy; Banking and Financial Services; Travel and Hospitality; Automotive; Manufacturing; and Fast-Moving Consumer Goods (FMCG)—are offering these opportunities to help young professionals gain hands-on experience and build industry networks.

Eligible candidates can browse internships by district, state, sector, and area, with the option to filter opportunities within a customized radius of their current location. In this round, applicants may apply to up to three internships before the deadline.

To promote awareness, over 70 IEC events are being held nationwide at colleges, universities, ITIs, and employment fairs, complemented by digital campaigns and influencer outreach.

The PM Internship Scheme, designed to leverage India’s youth potential, offers 12-month paid internships combining training and professional experience. Interns will undergo at least six months of practical exposure to ensure skill development and real-world application.

Seals Can Serve As ‘Smart Sensors’ to Know Fish Populations in Ocean’s Twilight Zone: Study

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UC Santa Cruz marine biologists have made a groundbreaking discovery, revealing that northern elephant seals can serve as “smart sensors” for monitoring fish populations in the ocean’s twilight zone. The study, led by researcher Roxanne Beltran and published in Science, suggests that tracking the foraging success of these marine mammals could revolutionize our understanding of deep-sea ecosystems and sustainable fisheries management.

For the past 60 years, scientists at UC Santa Cruz have closely monitored elephant seals migrating to Año Nuevo Natural Reserve. With an extensive dataset comprising over 350,000 observations on more than 50,000 seals, researchers have gained invaluable insight into the behavior, foraging success, and population dynamics of these marine giants. Now, this long-term research is shedding light on an oceanic region that remains largely unexplored: the twilight zone.

The twilight zone, located between 200 and 1,000 meters below the ocean’s surface, is a critical but poorly understood ecosystem. It harbors the majority of the planet’s fish biomass, yet current ocean monitoring tools—ships, floating buoys, and satellites—struggle to provide comprehensive data from these depths. Beltran’s study demonstrates that elephant seals, which dive into this zone to feed, can offer real-time insights into fish abundance and distribution, presenting a potential game-changer for marine science and conservation.

“Given the importance of the ocean for climate regulation, carbon sequestration, and food security, it is urgent that we develop new ways to measure changes in marine ecosystems,” said Beltran, an assistant professor of ecology and evolutionary biology at UC Santa Cruz. “Our research shows that elephant seals are not only top predators but also exceptional ecosystem sentinels.”

Each elephant seal embarks on a remarkable journey spanning 6,000 miles over seven months, making an average of 75,000 foraging dives. Tracking just 14 seals per year could provide fish population estimates across a staggering 4.4 million cubic kilometers of ocean. By measuring the weight fluctuations of these seals, researchers can also assess long-term changes in prey abundance, offering valuable data to fisheries managers as commercial fishing extends deeper into the ocean.

This research holds profound implications as discussions intensify around harvesting twilight zone fish to meet the growing demand for protein-rich food. With little known about the potential ecological consequences, experts warn that overfishing this hidden realm could disrupt food chains and impact economically significant species.

“The fish in the twilight zone are crucial prey for commercially valuable species, yet our best estimates of their abundance vary by a factor of ten,” Beltran explained. “If their populations decline, the entire marine ecosystem, including species relied upon by humans, could suffer.”

In addition to its scientific significance, this study also highlights the power of education and collaboration. Fourteen undergraduate students co-authored the paper after participating in an immersive field course at UC Santa Cruz, where they analyzed six decades of elephant seal data. Students conducted research, developed hypotheses, and presented findings, making real contributions to marine science.

“We want students to feel like they are part of a scientific community,” said Allison Payne, a graduate student in Beltran’s lab and teaching assistant for the course. “This experience builds confidence and provides invaluable hands-on training.”

The study also builds on decades of research led by distinguished professors Burney LeBoeuf and Dan Costa. Their work previously uncovered elephant seals’ long-distance migrations and the critical role of maternal foraging success in seal pup survival.

Costa emphasized that only a long-term dataset and a multidisciplinary team—including oceanographers, modelers, and marine biologists—could have achieved this breakthrough. “This research connects elephant seal behavior thousands of miles at sea to their breeding success on land,” he said.

Beltran’s study also demonstrated that elephant seal foraging success aligns with broad-scale oceanographic indices detected by satellites, allowing scientists to estimate fish population trends over the past 50 years and even project them into the future.

“This research provides a crucial ecological baseline for sustainable fisheries and helps assess the impact of human-driven environmental changes,” Beltran concluded.

With the potential to revolutionize marine conservation efforts, the findings underscore the value of long-term ecological research and the extraordinary role elephant seals play in unveiling the ocean’s mysteries.

India to Remain World’s Fastest-Growing Economy in 2025-26: RBI Bulletin

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India’s economic momentum is expected to strengthen in the second half of 2024-25 and continue into 2025-26, according to the latest RBI monthly bulletin. The country remains poised to maintain its status as the fastest-growing major economy, with GDP growth projections of 6.5% (IMF) and 6.7% (World Bank) for 2025-26.

The Union Budget 2025-26 is seen as a balanced approach toward fiscal consolidation and growth, emphasizing capital expenditure and measures to boost household incomes and consumption. The effective capital expenditure-to-GDP ratio is expected to rise to 4.3% in 2025-26 from 4.1% in 2024-25.

Retail inflation eased to a five-month low of 4.3% in January, largely due to declining vegetable prices. Key economic indicators signal a recovery, with improvements in industrial activity, rising tractor sales, increased fuel consumption, and sustained growth in air passenger traffic.

Rural demand remains strong, driven by higher farm incomes, as FMCG sales in rural areas surged 9.9% in Q3 2024-25, compared to 5.7% in Q2. Urban demand also showed improvement, with Q3 growth nearly doubling to 5% from 2.6% in the previous quarter.

Private sector investment intentions remained stable, with project costs sanctioned by banks/financial institutions nearing ₹1 lakh crore in Q3. External commercial borrowings and IPOs for capital expenditure purposes also saw an uptick.

Global uncertainties, including geopolitical tensions and restrictive trade policies, have influenced domestic equity markets, leading to selling pressure from foreign portfolio investors. The Indian rupee, like other emerging market currencies, has depreciated against a strengthening US dollar. However, India’s strong macroeconomic fundamentals and external sector stability have helped it navigate global economic headwinds, the bulletin noted.

India’s EV Fleet Expected to Surpass 28 Million by 2030: IESA Report

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India’s electric vehicle (EV) fleet is projected to exceed 28 million units by 2030, significantly increasing demand for grid energy, according to the India Energy Storage Alliance (IESA).

With cumulative EV sales surpassing 4.1 million units in FY 2023-24, the sector’s growth is fueled by rising environmental awareness, advancements in battery technology, and expanded charging infrastructure. IESA estimates that by 2030, 83% of annual EV sales will be two-wheelers, 10% four-wheelers, and 7% commercial vehicles, including buses and trucks.

Electricity consumption has surged, reaching 1,543 TWh in 2023-24 (a 7% increase from the previous year). Public EV charging demand has more than doubled, rising from 204 GWh in 2022-23 to 465 GWh from April to October 2024. Home charging remains the preferred choice for most EV users.

The Ministry of Power’s National Electricity Plan forecasts a total grid demand of 2,133 TWh by 2031-32, with EV charging accounting for approximately 3%. To support this growth, India plans to expand its total power capacity from 466 GW in 2025 to 900 GW by 2032, including 500 GW from renewable sources.

Charging infrastructure is set to scale up significantly, with approximately 100,000 charging stations expected nationwide by 2030.

Rekha Gupta Sworn In as Delhi’s First BJP CM in 27 Years

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Rekha Gupta was sworn in as Delhi’s Chief Minister at a grand ceremony at Ramlila Maidan on Thursday, marking the BJP’s return to power in the national capital after 27 years. The event was attended by Prime Minister Narendra Modi, Defence Minister Rajnath Singh, and BJP Chief Ministers from various states.

Gupta becomes Delhi’s fourth woman Chief Minister after Sheila Dikshit, Sushma Swaraj, and Atishi. Her cabinet is expected to include six ministers, with key figures such as Parvesh Singh Verma, Ravinder Indraj Singh, Ashish Sood, Manjinder Singh Sirsa, Kapil Mishra, and Pankaj Kumar Singh taking the oath alongside her.

Parvesh Singh Verma made headlines by defeating former Delhi CM and AAP leader Arvind Kejriwal by over 3,000 votes in the recent elections.

Following her swearing-in, Gupta’s cabinet is expected to convene its first meeting at the Delhi Secretariat around 3 PM. Key policy implementations, including the Mahila Samriddhi Yojana, which provides women beneficiaries with Rs 2,500 per month, and the rollout of the Ayushman Bharat health insurance scheme, are expected to be on the agenda.

South Korea Engages U.S. Over Tariff Concerns

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The South Korean government is actively engaging with the U.S. to address trade uncertainties stemming from new tariff measures, Trade Minister Cheong In-kyo said Thursday.

During a meeting with top industry think tanks—including Samsung, Hyundai, POSCO, and LG—Cheong emphasized the importance of coordinated efforts to navigate U.S. protectionist policies under President Trump.

The U.S. is reportedly considering tariffs on steel, aluminum, and automobiles, raising concerns among its trading partners.

“We are maintaining direct communication channels with the U.S. to mitigate risks and help domestic industries adjust to these evolving trade policies,” Cheong said, calling for stronger industry-government collaboration.

Deputy Trade Minister Park Jong-won is currently in Washington, holding discussions with U.S. officials on the potential impact of Trump’s trade agenda on South Korean industries.

Meanwhile, consumer sentiment in South Korea surged to its highest level in nearly four years, driven by expectations of political stability following recent turmoil. The Bank of Korea’s consumer sentiment index rose to 95.2 in February, marking the largest gain since June 2021.

US Semiconductor Tariffs: India Faces Limited Immediate Impact

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The U.S. decision to impose tariffs on semiconductors is unlikely to significantly impact India in the short term, as the country is not a major chip exporter to the U.S., industry experts said Thursday.

With India already imposing zero import duties on semiconductors, the country faces no immediate trade retaliation concerns, said Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA).

Most of India’s upcoming semiconductor manufacturing and assembly facilities cater to global brands, and its growing domestic demand will be met primarily through local production.

In the long run, Indian chipmakers are expected to remain competitive, as the U.S. tariff applies uniformly to all exporting nations, Chandak noted.

The Trump administration’s decision to impose tariffs of 25% or more is expected to reshape the global semiconductor industry, affecting costs, supply chains, and innovation.

The new tariffs will significantly increase the cost of chips imported into the U.S., particularly from dominant manufacturing hubs like Taiwan, South Korea, and China. These additional costs will likely be passed on to consumers, driving up prices for smartphones, laptops, electric vehicles, and industrial electronics.

Tech giants such as Apple, NVIDIA, and Tesla could see rising production costs, potentially squeezing profit margins or forcing them to raise consumer prices, according to IESA.

To mitigate risks, companies may explore alternative supply chains or invest more in domestic chip production. However, semiconductor fabrication plants are among the most capital-intensive projects, requiring $10 billion to $25 billion per site.

“Companies must weigh multiple factors before making investment decisions, including workforce availability, tax policies, regulatory frameworks, and environmental considerations,” IESA stated.

Trump Admin Plans $50 Billion Pentagon Budget Shake-Up, Eyes Firings

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WASHINGTON, Feb. 20 — The Trump administration is moving to cut $50 billion from the Pentagon budget, reallocating funds to high-priority areas such as border security, according to media reports.

A list of generals and admirals slated for dismissal has been circulated among Republican lawmakers. Acting Deputy Secretary of Defense Robert Salesses has instructed officials to identify cuts and shift resources to initiatives aligned with Trump’s priorities, Military Times reported.

NBC News said the Indo-Pacific region’s budget remains untouched. While earlier reports suggested an 8% reduction in overall military spending, the latest figures indicate the $849.8 billion defense budget will remain intact, with funds being redistributed rather than slashed.

NBC also reported that the targeted firings include officers linked to former Defense Secretary Lloyd Austin, those involved in diversity and inclusion programs, and others deemed politically misaligned with Trump’s agenda. It remains unclear whether Joint Chiefs of Staff Chairman CQ Brown is on the list.

Trump has already removed Coast Guard chief Admiral Linda Fagan, the highest-ranking woman in U.S. military history.

As part of a broader effort to streamline government operations, numerous Defense Department employees have received termination notices.

Besides Indo-Pacific operations, budget priorities include missile defense, autonomous weapons, and border security. Salesses emphasized Trump’s focus on bolstering missile defense, strengthening border protections, and eliminating what he called “radical and wasteful” diversity initiatives.

 

 

 

Trump Warns Zelensky: Ukraine War Could End Without Him

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NEW YORK, Feb. 20 — The war of words between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky escalated Wednesday as Trump suggested Ukraine could be sidelined in negotiations to end the war with Russia.

“Zelensky better move fast or he’s not going to have a country left,” Trump wrote on Truth Social, claiming that only his administration could successfully broker peace with Russia.

The warning came after Zelensky criticized the U.S. and Russia for holding negotiations in Riyadh without Ukrainian representation. He insisted that Ukraine would not accept a peace deal reached without its direct involvement.

Zelensky fired back, accusing Trump of “living in a web of disinformation.” Trump, in turn, labeled Zelensky a “dictator without elections.”

With Russia occupying roughly 20% of Ukraine’s territory and Ukraine making only minor territorial gains, a negotiated peace deal is unlikely to restore all of Ukraine’s pre-war borders.

U.S. Defense Secretary Pete Hegseth suggested that reverting to Ukraine’s pre-2014 borders—including Crimea—was unrealistic and ruled out NATO membership for Ukraine in any foreseeable peace agreement.

Trump previously suggested Ukraine provoked the war—despite Russia’s 2022 invasion. His “dictator” remark references Ukraine’s decision to postpone elections due to the war, extending Zelensky’s term beyond its scheduled end.

As the primary financier of Ukraine’s defense, Trump appears to believe he could unilaterally pressure Kyiv into accepting peace terms negotiated with Russian President Vladimir Putin.

On Tuesday, U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov met in Riyadh for more than four hours to discuss an end to the war. Both sides reported progress, with Lavrov calling the talks “useful” and Rubio indicating Russia was open to serious negotiations.

One key development was an agreement to restore U.S. and Russian embassies to full operational status after years of reduced diplomatic presence.

Trump also lashed out at European nations for not matching U.S. financial support for Ukraine. “Zelensky talked the United States into spending $350 billion on a war that couldn’t be won,” he wrote, arguing that European nations should contribute equally.

 

‘Buy China – Sell India’? Despite Challenges, FIIs Pushing A Market Shift

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At first glance, the global financial landscape is undergoing a significant shift, with FIIs increasingly diluting their share in Indian stocks and turning their attention towards the Chinese market. This trend, often referred to as the ‘Buy China – Sell India’ trade, is not a distant possibility for FIIs. The primary reason behind this shift is the perceived greener pastures in the Chinese stock market compared to the frothy valuations of Indian markets.

Over the last two weeks, Shanghai’s stock market has rallied close to 30% from its September lows, following the Chinese government’s all-out effort to revive economic growth. This is a stark contrast to the situation a few weeks back when multinational firms were pulling out money from China at a record pace, and global economists were trimming their forecasts for China’s economic growth.

However, the ground realities of the Chinese economy have not changed. The country’s real problems range from half-built houses to bad debts. The government is widely believed to be forging data and suppressing sensitive economic facts. Over the past few years, China’s monetary stimuli have become political rather than economic decisions.

China’s Economic Challenges and Investor Capital

This has led to a growing mistrust of information about China, making the allocation of capital in the country very difficult. China’s workforce is shrinking, and manufacturing productivity is dwindling. The country needs to pivot away from cheap credit and construction to more innovative industries. That is why investor capital is pouring into electric vehicles, semiconductors, and AI-led technologies. Yet, if the investments are based on the sustainability of the economic boom, there could be more shocks in the offing.

China’s real estate bust has left behind tens of millions of empty housing units. The historic glut of unoccupied property is colliding with China’s shrinking population, leaving cities stuck with homes they might never be able to fill. The country could have as many as 90 million empty housing units, enough homes for the entire population of Brazil.

Another measure of the unbalanced state of China’s economy is the size of the credit market bubble. According to Harvard professor Kenneth Rogoff, housing now constitutes a third of the Chinese economy and exposes it to massive risks. Chinese private sector credit has increased by around 100% of its GDP in the past decade.

The Future of China’s Economy and Global Impact

That rate of credit expansion is larger than that which preceded Japan’s lost economic decade in the 1990s and the 2008 US housing and subprime credit market bust. Yet another measure of the unbalanced state of the Chinese economy is the quantum of state-funded investment.

This accounts for as much as 42% of China’s GDP, approximately double the rate of the advanced economies. China now has a major problem of excess manufacturing capacity. With domestic household demand unable to fully absorb its manufacturing output, China has become dependent on foreign markets to take up its manufacturing surplus.

Without curtailing excess debt and investments, China could experience a Japanese-style lost economic decade. And that could have major consequences for the world economy given that China is the world’s second-largest. Moreover, it continues to remain the largest consumer of international commodities.

So, FIIs have a lot to ponder over before taking the ‘Buy China – Sell India’ trade too seriously. Nevertheless, such a strategy could work well in the near term as valuations of Indian stocks seem frothy. A deeper correction in Indian stock markets could be possible only if the money that FIIs pull out is higher than that which domestic investors pump in.

 

Zhuhai Tragedy: 35 Dead, 43 Injured in Car Ramming Incident Over Divorce Settlement Issue

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In a shocking incident that unfolded in the city of Zhuhai, located in south China’s Guangdong Province, a total of 35 people were killed and another 43 injured. The tragedy occurred on Monday at a sports center, where citizens were engaged in their regular exercise routines. The details of the incident were revealed by the local police on Tuesday.

The suspect, a 62-year-old divorced man identified by the surname Fan, was apprehended by the police while attempting to flee the scene. Fan was found in his vehicle, attempting to inflict self-harm with a knife. The responding officers intervened swiftly, preventing further harm and transporting him to the hospital.

Fan’s condition remains critical, with severe injuries to his neck and other areas rendering him unconscious. As a result, he is currently unfit for police questioning. The preliminary investigation conducted by the police suggests that Fan’s actions were motivated by dissatisfaction with the property division outcome of his divorce.

The police authorities have initiated a case against Fan, suspecting him of endangering public safety by dangerous means. He has been placed under criminal detention. As the investigation continues, medical treatment for the injured is also underway.

The incident has sparked widespread concern, with Chinese President Xi Jinping urging all-out efforts to treat the injured. He has also called on localities and relevant authorities to learn from this case and strengthen their prevention and control of risks at the source. Xi emphasized the importance of timely dispute resolution, prevention of extreme cases, and the need to safeguard the security of people’s lives and social stability.

Chinese Premier Li Qiang echoed these sentiments, calling for the appropriate handling of the incident’s aftermath, swift investigation, and severe punishment for the perpetrator in accordance with the law. Following Xi’s instruction, central authorities have dispatched a team to oversee the handling of the case.

The Incident and Its Aftermath

The incident occurred on the eve of the country’s premier aviation exhibition by the People’s Liberation Army, hosted annually in Zhuhai. This has led to speculation about whether the car-ramming incident, targeting a large crowd at a sports center ahead of the opening of the prestigious air show, was aimed at casting a shadow over it.

The sports center in the city district of Xiangzhou, where the incident took place, regularly attracts hundreds of residents for various activities such as running on the track field, playing soccer, and social dancing. Following the incident, the center announced it would be closed until further notice.

Witnesses at the scene described a horrifying scene, with dozens of people lying prone on the running track. Many of those injured were wearing exercise clothing and were attended to by other members of the public. The suspect is said to have driven in a loop, causing injuries in all areas of the running track.

Hyundai Motor India Share to List Today After IPO Amid Complaints From Retail Investors

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Hyundai Motor India, the Indian arm of South Korea’s automotive giant, is poised to make its stock market debut this week following a historic Initial Public Offering (IPO), officials confirmed on Monday.

The company’s shares will begin trading on Tuesday, after successfully concluding last week’s $3.3 billion IPO, the largest ever in India’s market history. This debut surpasses the previous record held by the Life Insurance Corporation of India (LIC), which raised $2.5 billion in its 2022 IPO.

The price band for Hyundai Motor India’s IPO has been set between ₹1,865 and ₹1,960 per share. As a pure offer-for-sale (OFS), all proceeds will go to the promoter company.

However, several retail applicants are upset over non-allocation of shares despite half of the category allocaton was applied.

India plays a crucial role in Hyundai’s global production strategy. In 2023 alone, the company produced 765,000 vehicles in the country. Hyundai Motor India stands as the second-largest carmaker in India, following Maruti Suzuki. The listing is expected to boost its local market competitiveness.

In recent years, Hyundai has ramped up its investments in India, acquiring General Motors’ manufacturing plant in Pune. The facility is undergoing modernization and is expected to reach a production capacity of over 200,000 units annually once operational in the latter half of 2025. This will bring Hyundai Motor India’s total production capacity to 1 million vehicles when combined with its Chennai plant.

Hyundai is also making strides in the electric vehicle (EV) market. By 2030, the company plans to install 485 EV charging stations across India and has partnered with Exide Energy to bolster its battery capabilities. The company will launch its first locally-produced electric SUV, the Creta EV, in 2025, followed by four more EV models by 2030 to meet India’s growing demand for electric vehicles.

Indian Shares Poised for Higher Opening as Key Earnings Reports Awaited

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Indian stock markets are expected to open slightly higher on Monday, with investor attention focused on earnings reports from major players like HDFC Bank, Kotak Mahindra Bank, and Tech Mahindra.

As of 07:14 a.m. IST, the Gift Nifty stood at 24,927.5, indicating that the NSE Nifty 50 index may open marginally above its last close of 24,854.05 on Friday. Both the NSE Nifty 50 and S&P BSE Sensex had posted losses in the previous week, marking the third consecutive week of declines.

Analysts attributed the recent market downturn to sustained foreign outflows as investors shifted focus toward China, where stimulus measures and cheaper stock valuations are drawing attention. Additionally, the ongoing mixed corporate earnings season has added to market caution.

The reaction to HDFC Bank’s earnings, a key component of India’s benchmark indexes, will likely influence Monday’s trading. The private lender reported a higher-than-expected standalone net profit for the September quarter and plans to reduce its loan-to-deposit ratio over the next two to three years.

Meanwhile, Kotak Mahindra Bank may face selling pressure due to a sequential margin contraction and deterioration in asset quality for the second quarter. Tech Mahindra, which reported revenue growth over the weekend, will also be closely watched by market participants.

Foreign institutional investors have been net sellers of Indian equities for 15 consecutive sessions, offloading shares worth ₹54.86 billion ($652.7 million) on Friday. October is shaping up to be the worst month for the Nifty since September 2022, with the index down 3.7% so far.

Stocks to Watch:

  • JM Financial: The Reserve Bank of India has lifted restrictions on one of its units.
  • Tata Steel: The steelmaker signed a contract with Italy’s Tenova for an electric arc furnace at its Port Talbot plant in Wales.
  • JSW Steel: JSW’s joint venture with JFE Steel Corp announced a deal to acquire thyssenkrupp Electrical Steel India for $482.1 million.

This Week’s IPOs: Waaree Energies Likely to Buzz Market, Three Other Listings Scheduled

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Despite a recent downturn in the Indian equity market, the IPO segment is buzzing with activity as nine new public issues worth ₹10,985 crore are set to open for retail investors from October 21 to 25.

Among these, Waaree Energies’ IPO will be the first to kick off on October 21, offering shares at a price band of ₹1,427 to ₹1,503 each. The solar photovoltaic module manufacturer aims to raise ₹4,321 crore, with ₹3,600 crore as fresh issue and ₹721.44 crore through an offer-for-sale (OFS) of 48 lakh shares.

Promoters Waaree Sustainable Finance and Chandurkar Investment will participate in the OFS. Ahead of the IPO, the company secured ₹1,277 crore from anchor investors on October 18. Competitors in the market include Premier Energies and Websol Energy.

Additionally, the IPO for Deepak Builders and Engineers India will also open on October 21, with a size of ₹260 crore. It consists of a fresh issue of ₹217 crore and an OFS worth ₹42.83 crore. Prior to the IPO, ₹78 crore was raised from five anchor investors.

Godavari Biorefineries will open its ₹555 crore IPO from October 23 to 25. The offering will feature a fresh issue of ₹325 crore and an OFS of 65.26 lakh shares, valued at ₹229.75 crore, from promoters and investor Mandala Capital AG. The price band for the shares is set at ₹334 to ₹352.

Afcons Infrastructure, a Shapoorji Pallonji Group company, will launch its IPO on October 25. The company seeks to raise ₹5,430 crore, with ₹1,250 crore through a fresh issue and ₹4,180 crore via an OFS. The price band will be revealed on October 21.

Several companies in the SME segment will also be offering IPOs next week, including Premium Plast, Danish Power, United Heat Transfer, OBSC Perfection, and Usha Financial Services.

On the listing front, Hyundai Motor India’s historic ₹27,870 crore IPO, the largest ever in India, will list on October 22. Shares of Lakshya Powertech and Freshra Agro Exports from the SME segment are scheduled to begin trading on October 23 and 24, respectively.

SIPs Over Cars: Sourav Dutta’s Financial Tip Ignites Debate

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In an era where financial literacy is increasingly becoming a necessity, a recent online debate has sparked interest and controversy in equal measure. The debate was initiated by Sourav Dutta, an investor and trader, who took to social media platform X (formerly Twitter) to share his financial advice.

Dutta suggested that people should consider investing in Systematic Investment Plans (SIPs) rather than purchasing a car. His post, shared on October 15, 2024, quickly gained traction, accumulating over a million views and sparking a widespread discussion.

Dutta’s argument was based on a hypothetical scenario involving a character named Ravi. According to Dutta, Ravi was burdened with a monthly EMI of ₹20,000 for five years after purchasing a car.

Dutta proposed that Ravi would have been in a better financial position had he invested the same amount into mutual fund SIPs. He explained that an SIP of ₹20,000 per month in Nifty ETF would grow to a bank balance of ₹17 lakh at the end of five years. In contrast, a car, which would have cost ₹10 lakh, would depreciate to a value of ₹4 lakh by 2030.

Life Choices and Financial Planning

Rs 20000/mo is the 5 year EMI of a 10L car for Ravi. Instead, Ravi puts ₹20000/mo for 5 years in Nifty ETF SIP. First decision gives him a car worth ₹4L in 2030. Second decision gives him ₹17L of bank balance in 2030. Life is about the choices we make, Dutta wrote.

However, Dutta’s advice was met with mixed reactions. While some agreed with his financial perspective, others argued that life is not solely about investment and financial returns. They emphasized the value of enjoying life and the conveniences a car provides, such as family time and emergency transportation.

One user commented, Life is also short for some enjoyment. Look beyond SIP and market returns. And enjoy life for yourself and for the family you got. This sentiment was echoed by others who pointed out that not everyone can forgo the immediate benefits of car ownership for future financial gains.

Another user argued, “Not everything in life is about saving money. Also, if everyone thinks like Ravi, then the economy won’t grow, and the stock market won’t perform, and Ravi will not even make FD returns!”

This comment highlights the broader economic implications of Dutta’s advice, suggesting that if everyone were to follow this advice, it could potentially stagnate economic growth.

Practicality Experiences

The debate took an interesting turn when users began to question the practicality of Dutta’s advice. One user quipped, The problem here is that, when Ravi wants to go somewhere with his family at his convenient time without bargaining with the Ola or Uber fellow, he can’t print the ETF papers, sit over it and ask it to fly.

It will not take him anywhere. This comment underscores the limitations of relying solely on public transportation or ride-hailing services, and the convenience and independence that owning a car provides.

In response to the criticism, Dutta argued that the expenses on petrol for the car would have been similar to cab fares over five years, and the difference in the end would still be a significant amount in favor of investing in SIPs (Rs 13 lakh more in savings).

This debate is reminiscent of similar discussions in the past where financial advisors have advocated for investment over consumption.

Infosys Q2 Profit Rises, Raises Revenue Outlook

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Infosys posted a 4.7% rise in net profit for Q2 FY25, hitting Rs 6,506 crore, up from Rs 6,212 crore a year ago. Revenue grew 2.9% year-on-year, reaching Rs 40,986 crore. The company raised its full-year revenue growth forecast to 3.75-4.5% and announced a 16.7% interim dividend increase to Rs 21 per share, payable on November 8.

Strong performance was driven by strategic collaborations with Metro Bank, Proximus, TDC Net, and Posti. Infosys CFO Jayesh Sanghrajka stressed a focus on revenue growth and margins, while CEO Salil Parekh highlighted broad-based growth across sectors.

The company’s net profit for the quarter reached ₹6,506 crore, up from ₹6,212 crore in the same period last year. Meanwhile, its revenue for the quarter stood at ₹40,986 crore, marking a 2.9% year-on-year growth. Quarter-on-quarter, the company saw over 4% growth, with revenue climbing from ₹38,994 crore in the previous quarter.

The company has raised its full-year revenue growth guidance to 3.75-4.5%, showing optimism for the coming months. This increase in guidance comes as Infosys continues to leverage new strategic partnerships and strengthen its service offerings across key sectors.

Infosys also declared an interim dividend of ₹21 per share, reflecting a 16.7% hike compared to last year’s dividend. The payout is scheduled for November 8, underscoring Infosys’ strong financial position and commitment to rewarding its shareholders.

Broad-Based Growth and Margin Focus

During the first half of FY25, Infosys reported a year-over-year revenue growth of 2.9% in constant currency, with an operating margin of 21.1% for the second quarter. Infosys CEO Salil Parekh attributed this success to the company’s broad-based growth across various sectors and geographies, noting that the company saw 3.1% quarter-on-quarter growth in constant currency terms.

“We achieved strong growth in financial services, which was a key contributor to our performance this quarter,” Parekh said. This growth, along with steady client wins, has helped Infosys maintain momentum despite a challenging global economic environment.

Chief Financial Officer Jayesh Sanghrajka highlighted the company’s focus on accelerating revenue growth while maintaining a sharp focus on margin performance. “Our operating margin for the quarter was at 21.1%, driven by value-based pricing and efficient utilization of resources,” Sanghrajka said. He also pointed to the company’s strong cash generation, with free cash flow growing 25.2% year-on-year to reach $839 million. For the second consecutive quarter, Infosys achieved over 100% free cash flow conversion to net profits.

Infosys’ employee headcount rose by 2,456 in the quarter, bringing the total to 3,17,788. The company also approved the merger of WongDoody Inc., Blue Acorn iCi Inc., Outbox Systems Inc. (d.b.a. Simplus), and Kaleidoscope Animations Inc. into Infosys Nova Holdings LLC, further strengthening its business capabilities.

Strategic Collaborations and Future Outlook

Infosys continues to drive growth through strategic collaborations with key global players. The company entered a long-term collaboration with Metro Bank to enhance its IT and support functions, while also transforming the bank’s business operations. Metro Bank CEO Daniel Frumkin said the partnership would help the bank become more profitable and scalable in the long run.

The company also announced a collaboration with Proximus, a Belgian telecommunications provider, to explore new business opportunities. Proximus’ Chief Digital and IT Officer, Antonietta Mastroianni, welcomed the renewed partnership, highlighting its potential to unlock new opportunities.

Another key collaboration came with TDC Net, Denmark’s largest telecom infrastructure company. Infosys is set to help TDC Net transform into a more customer-centric technology company. TDC Net’s Chief Technology and Information Officer, Campbell Fraser, expressed confidence in Infosys’ ability to support their digital transformation.

Infosys also renewed its collaboration with Finland’s postal service, Posti, extending their partnership for another seven years to enhance customer experience and operational efficiency. Petteri Naulapää, Posti’s CIO and SVP, praised the ongoing collaboration and its role in driving innovation.

With these strategic partnerships and a strong financial outlook, Infosys is well-positioned for continued growth in the second half of the fiscal year.

 

New Chip Helps Diagnose Heart Attacks Based on Blood Test in Minutes

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A revolutionary chip-based blood test, developed by researchers at Johns Hopkins University, promises to diagnose heart attacks within minutes, providing a faster and more accurate alternative to current methods. The test, which delivers results in just five to seven minutes, could potentially be used by first responders and even in home settings.

Led by Peng Zheng, an assistant research scientist at Johns Hopkins, the team created a chip with an innovative nanostructured surface that enhances the detection of heart attack biomarkers in blood samples. “We were able to invent a new technology that can quickly and accurately establish if someone is having a heart attack,” Zheng said.

Published in the journal Advanced Science, the test uses Raman spectroscopy to amplify electric and magnetic signals on the chip’s surface. This allows the detection of even ultra-low concentrations of heart attack biomarkers within seconds, providing a level of sensitivity not possible with existing tests, which often take hours to deliver results.

The new tool is designed for quick diagnostic work in clinical settings but has the potential to be adapted for use in handheld devices. This could allow first responders in the field or even individuals at home to perform tests, providing critical information when time is of the essence.

In addition to diagnosing heart attacks, the platform can be adapted for other uses, such as detecting cancer or infectious diseases. “We’re talking about speed, accuracy, and the ability to perform measurements outside of a hospital,” said senior author Ishan Barman, a bioengineer in the Department of Mechanical Engineering.

With significant commercial potential, the research team plans to refine the blood test and conduct larger clinical trials, bringing this life-saving technology closer to everyday use.

Bajaj Auto Reports 9% Net Profit Growth in Q2 FY25, Driven by Strong EV Sales

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Bajaj Auto on Wednesday announced a 9% rise in net profit for the July-September quarter (Q2 FY25), posting a net income of Rs 2,005 crore, driven by robust performance in its green energy segment. The company’s electric vehicle (EV) sales surged, contributing significantly to its overall growth.

Adjusted for exceptional deferred tax provisions, Bajaj Auto’s profit after tax (PAT) reached Rs 2,216 crore, marking a 21% year-on-year increase. The company explained that the reported PAT of Rs 2,005 crore accounted for an additional provision of Rs 211 crore due to the impact of the Finance Act, 2024, which withdrew indexation and changed tax rates on investment income.

Revenue from operations grew 22% year-on-year, hitting Rs 13,000 crore for the quarter. Bajaj Auto’s stock responded positively, closing 0.88% higher at Rs 11,622.5 per share on Wednesday.

Electric Vehicles Lead the Charge

Bajaj Auto’s green energy portfolio hit new milestones, with the sale of 1 lakh electric vehicles (EVs) in September alone. Of these, 70,000 were Chetak electric scooters, which captured a 21% market share that month. The company’s portfolio of electric and CNG vehicles, spanning both two-wheelers (2W) and three-wheelers (3W), now contributes 40% of its total domestic revenues.

The company noted strong double-digit growth in its motorcycle and commercial vehicle segments, largely fueled by the near-tripling of electric scooter sales. The Pulsar brand continued to perform well, achieving its highest-ever quarterly sales of 1.1 lakh units.

Future Prospects

Bajaj Auto is also making strides in the electric three-wheeler (e3W) market, where it aims to replicate its dominance in the internal combustion engine (ICE) segment. The company reported that its market share in the e3W segment doubled from last year, reaching 35% by the end of the quarter.

The company remains in a strong financial position, with surplus cash reserves of Rs 16,392 crore at the end of Q2. This follows strategic investments of Rs 1,200 crore, primarily directed towards Bajaj Auto Credit Ltd. and EV-related capital expenditures, as well as a Rs 2,233 crore dividend payout in the first half of FY25.

With growing demand for electric vehicles and a strong financial base, Bajaj Auto is well-positioned to capitalize on the expanding green energy market and continue its upward trajectory.

BharatPe Group Reports Rs 209 Crore EBITDA Loss in FY24, Marks Key Turnaround

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Fintech firm BharatPe Group announced its financial results for FY 2023-24 on Wednesday, revealing a consolidated EBITDA loss (before share-based payment expense) of Rs 209 crore for the fiscal year. While still in the red, the company has significantly narrowed its losses compared to the Rs 826 crore EBITDA loss it posted in FY 2022-23, signaling a positive shift in its financial performance.

According to BharatPe, its revenue from operations saw a robust 39% year-on-year (YoY) growth, rising from Rs 1,029 crore in FY23 to Rs 1,426 crore in FY24. Additionally, the company managed to halve its consolidated loss before tax, which dropped from Rs 941 crore in FY23 to Rs 474 crore in FY24.

BharatPe’s growth was particularly notable in its merchant lending business. The company’s average merchant lending portfolio, fueled by loans originating through its platform, grew by 40% compared to the previous year. This growth underscores BharatPe’s expanding role in providing credit access to small and medium-sized businesses, a key driver of its business strategy.

The company also highlighted strong demand for its soundbox devices, a key product in BharatPe’s offerings that has gained significant traction in the market during FY24.

Reduced Cash Burn and Turn to Profitability

BharatPe reported a sharp reduction in its cash burn, cutting it by 85% on a YoY basis. This improved cash management, along with other operational efficiencies, played a crucial role in moving the company closer to profitability.

In a major milestone, BharatPe turned EBITDA positive in October 2024, marking a significant achievement for the fintech firm. Commenting on the financial performance, BharatPe CEO Nalin Negi said, “FY24 was a milestone year for us as BharatPe turned EBITDA positive. We also considerably reduced our cash burn, positioning ourselves to build a sustainable and profitable business.”

Negi attributed the company’s progress to strategic partnerships with financial institutions, which have expanded BharatPe’s lending capabilities. “We have been able to partner with renowned financial institutions to extend credit access to merchants, validating our business model,” Negi added.

New Focus Areas and Future Outlook

BharatPe continues to diversify its product offerings and strengthen its position in the competitive fintech landscape. Negi outlined the company’s future plans, which include expanding its lending vertical, launching new products across POS (point-of-sale) solutions, and scaling its soundbox devices. BharatPe is also ramping up efforts in its consumer payments vertical, further diversifying its revenue streams.

In line with this strategy, BharatPe rebranded its PostPe app, transitioning it into the broader BharatPe ecosystem, signaling its entry into the consumer payments space. This move represents the company’s intent to build a more integrated and user-centric financial platform.

Funding and Investor Backing

BharatPe has successfully raised over $583 million in equity to date, with backing from several prominent global investors. These include Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management, Dragoneer Investment Group, Steadfast Capital, Steadview Capital, and Tiger Global.

The company’s robust funding and investor support reflect confidence in BharatPe’s business model and growth potential. With a focus on sustainable growth, the fintech firm aims to consolidate its position in the fast-growing Indian digital payments and lending market.

As BharatPe continues to drive innovation and expand its offerings, the company is on track to further strengthen its financial performance, setting the stage for sustained growth and profitability in the coming years.

L&T Technology Services Reports 2% Rise in Q2 Net Profit to ₹320 Crore

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L&T Technology Services Ltd (LTTS) posted a net profit of ₹320 crore for the second quarter of FY 2024-25, marking a 2% increase from ₹314 crore in the previous quarter. The IT services company’s performance was bolstered by steady growth in revenue and continued expansion in its core technology sectors.

According to the company’s exchange filing, LTTS recorded revenues of ₹2,573 crore for the July-September quarter, representing a 4.5% increase from ₹2,462 crore in the April-June quarter of the same fiscal year. In terms of dollar revenue, the company reported $307 million, up 6.5% year-on-year (YoY), demonstrating strong growth on the global front.

The company’s earnings before interest and taxes (EBIT) for the quarter rose by 1% to ₹388 crore. However, its EBITDA margin contracted slightly to 15.1%, reflecting some cost pressures despite the increase in revenue.

AI-Led Transformation

Amit Chadha, CEO and Managing Director of LTTS, expressed confidence in the company’s trajectory, driven by its strategic focus on larger deals and advanced technology transformations. “With our pipeline featuring large-sized deals focused on consolidation and technology-led transformations, we are optimistic about achieving our medium-term goal of reaching $2 billion in revenue with an EBIT margin of 17-18%,” Chadha said in a statement.

Chadha also highlighted the growing demand for artificial intelligence (AI) solutions, which is playing a pivotal role in winning contracts across various industry segments. “We are seeing increased momentum in AI-led deal discussions, and our portfolio of AI solutions and accelerators is enabling us to secure deals in our focus areas,” he added.

The company has filed a total of 165 patents in AI, underscoring its commitment to innovation. As of the end of Q2FY25, LTTS had a patent portfolio of 1,394, of which 877 were co-authored with customers, and 517 were filed independently by the company. This focus on AI and intellectual property is key to its competitive edge in the market.

Employee Strength and Dividend Announcement

LTTS reported a workforce of 23,698 employees as of September 30, reflecting its ongoing investment in talent to support its growth and expansion in advanced technologies.

In addition to its financial performance, LTTS also announced an interim dividend of ₹17 per equity share for its shareholders, amounting to a distribution of ₹179.9 crore. The record date for the dividend payment has been set for October 25, 2024.

Stock Performance

Shares of LTTS closed 0.72% higher at ₹5,356.9 apiece on the NSE, outperforming the broader market, where the Nifty 50 declined by 0.34%. The positive stock movement reflects investor confidence in the company’s strong quarterly results and its forward-looking growth strategy.

With its solid performance in Q2FY25, L&T Technology Services is well-positioned to capitalize on emerging technology trends such as AI and digital transformation. The company’s focus on innovation, robust deal pipeline, and commitment to delivering shareholder value are expected to sustain its growth momentum in the upcoming quarters.