Author Archives: Arun Kumar N

About Arun Kumar N

Arun has been associated with India International Times since 2018 and he has been a key reporter in covering science and space related stories. He can be reached at arunKnn@indiainternationaltimes.com.

Israeli strike on hospital ‘further cripples’ Gaza’s fragile health system

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Several staff members, including two nurses, were injured in the strike on the Kuwaiti Field Hospital in Khan Younis according to Gaza’s Ministry of Health and health agencies, UN Spokesperson Stéphane Dujarric told journalists at the regular news briefing in New York.

The incident follows a separate strike on Sunday on Al-Ahli Arab Hospital in Gaza City, which had been a key facility treating victims of Israeli airstrikes in the north.

“The latest strikes on hospitals further cripples Gaza’s health care system,” Mr. Dujarric said.

“There are currently very few beds available in hospitals and patients are being accommodated in tents.”

He added that according to the UN World Health Organization (WHO), only 21 of Gaza’s 36 hospitals remain “just partially functional” and almost all have sustained some damage in the conflict.

He further reported that, according to health partners, there is an urgent need for thousands of blood units for life-saving operations.

Furthermore, there are serious concerns that food warehouses have reached “very low levels” as no aid has entered Gaza in weeks.

Meanwhile, amid the devastation a rare moment of relief came as humanitarians in Gaza successfully installed a backup generator at Kamal Adwan Hospital to power a water system producing 20 cubic metres of clean water per hour.

Mr. Dujarric reiterated the UN’s call on all parties to ensure that civilians are respected and always protected, and that they have the basic necessities to survive.

“All hostages must be released immediately and unconditionally, and a ceasefire must be restored and renewed without delay,” he added.

UN chief urges ‘utmost restraint’ amid escalating violence in Yemen

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At least five humanitarian workers were said to be among those injured, and significant damage was reported to port infrastructure. There are also fears of oil leaks into the Red Sea, raising environmental concerns.

In a statement issued on Saturday by his spokesperson, António Guterres emphasised that international law, including international humanitarian law, “must be respected at all times.”

He urged all parties to respect and protect civilians and civilian infrastructure.

The Secretary General also voiced deep concern over ongoing missile and drone attacks by Houthi forces against Israel and vessels in the Red Sea, calling on the group to cease such attacks immediately.

“The Security Council resolution 2768 (2025) related to Houthi attacks against merchant and commercial vessels must be fully respected,” he stressed.

Mr. Guterres also warned of the growing risk of a broader regional escalation and urged all parties to exercise “utmost restraint.”

He also reiterated his demand for the “immediate and unconditional” release of all UN and other personnel arbitrarily detained by the Houthis.

Partnerships, increased climate investment crucial for sustainable transition, says UN deputy chief

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Marking the tenth anniversary of both the UN Sustainable Development Goals (SDGs) and the landmark Paris Agreement, Ms. Mohammed highlighted the significant progress made over the past decade, while also acknowledging the substantial challenges that remain.

A decade of progress and challenges

In her remarks to the Partnership for growth Summit, known by the shorthand ‘P4G’, which runs through Thursday in the Viet Nam capital, Ms. Mohammed reflected on the progress achieved since the adoption of the SDGs and the Paris Agreement.

However, she stressed the stark reality that the world is still far from where it needs to be.

“As I speak, there are 750 million people who do not have access to electricity, and two billion people have no clean cooking solutions,” she stated. She also pointed out the increasing air pollution affecting children worldwide due to fossil fuel emissions.

Hope amid adversity

Despite the daunting statistics, the UN deputy chief expressed hope, drawing inspiration from the words of Vietnamese Zen Master Thich Nhat Hanh: “Hope is important because it can make the present moment less difficult to bear. If we believe that tomorrow will be better, we can bear a hardship today.” 

She identified three sources of hope:

  • Global Commitment: The presence of representatives from governments, businesses, investors, and civil society at the summit demonstrated a collective commitment to building more sustainable, resilient, inclusive, and prosperous societies;
  • Collaboration: Initiatives like the Just Energy Transition Partnerships and P4G’s public-private partnerships, which exemplify the power of collaboration in transforming energy, water, and food systems and;
  • Economic Imperatives: The economic benefits of climate action; every dollar invested in climate adaptation can generate a return of up to 10 times.

She also pointed out the significant cost reductions in wind, solar, and battery storage technologies, making them the cheapest sources of new electricity in many markets.

An economic case for climate action

Ms. Mohammed underscored the financial impact of climate disasters, which caused $320 billion in damages worldwide last year.

She emphasized that the climate crisis is draining resources needed for development but also presented a compelling economic case for climate action.

“Renewables accounted for 92.5 per cent of all new power capacity added globally last year, and clean power surpassed 40 per cent of global electricity generation for the first time,” she noted.

Deputy Secretary-General Amina Mohammed delivers remarks at the P4G Summit in Hanoi, Viet Nam.

Viet Nam as a leading example

Highlighting Viet Nam’s leadership in clean energy, Ms. Mohammed praised the country’s bold shift from coal, which is not only combating climate change but also promoting a fairer and more equal future. She called this moment a “rare opportunity” to usher in a new economic era that ensures energy access, affordability, and security while creating zero-carbon, disaster-resilient, and sustainable societies.

Call to action

The UN deputy chief urged government leaders to accelerate the implementation of cost-effective solutions and drive change through smart policies and reforms at all levels.

She emphasized the importance of the next round of Nationally Determined Contributions (NDCs) – national climate action plans – in aligning energy and development plans with climate goals.

“Investment is key,” she stressed, citing the need for $2.4 trillion per year to flow emerging and developing economies outside China by 2030 to keep the 1.5-degree target within reach and deliver on the SDGs.

Addressing corporate, financial, and civil society leaders, Ms. Mohammed called for continued innovation, collaboration, and the creation of new models and partnerships to mobilize finance at scale. She encouraged leaders to turn obstacles into business opportunities and drive real investments in climate and sustainable development.

In closing, Ms. Mohammed reaffirmed the United Nations’ commitment to supporting global efforts towards a more prosperous future for all. “The United Nations stands ready to support your efforts every step of the way and keep the hope of a more prosperous future for all alive,” she concluded.

Countries finalize historic pandemic agreement after three years of negotiations

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Developed after over three years of negotiations under the auspices of the World Health Organization (WHO), the draft outlines a framework for strengthening international collaboration, equity and resilience in the face of future global health threats.

“The nations of the world made history in Geneva today,” said WHO Director-General Tedros Adhanom Ghebreyesus.

“In reaching consensus on the Pandemic Agreement, not only did they put in place a generational accord to make the world safer. They have also demonstrated that multilateralism is alive and well and that in our divided world – nations can still work together to find common ground and a shared response to shared threats.”

‘One health’ approach

Negotiations began in December 2021 at the height of the COVID-19 pandemic, when WHO member States agreed on the urgent need for a legally binding international instrument and established the Intergovernmental Negotiating Body (INB).

The process involved 13 formal rounds of negotiations, many of which were extended into the early hours, culminating in Wednesday’s consensus after a final overnight session.

Key elements of the proposed agreement include a commitment to a “One Health” approach to pandemic prevention, stronger national health systems, setting up a coordinating financial mechanism, and creating a globally coordinated supply chain and logistics network for health emergencies.

The draft also proposes a new pathogen access and benefit-sharing system, increased support for technology and knowledge transfer as well as capacity-building, and outlines a skilled, trained and multidisciplinary national and global health emergency workforce.

National sovereignty upheld

The text further affirms national sovereignty in public health decisions. It states explicitly that nothing in the agreement gives WHO the authority to mandate health measures such as lockdowns, vaccination campaigns, or border closures.

The draft will now be submitted for consideration to the 78th World Health Assembly – UN’s highest forum for global health – set to begin on 19 May. If adopted, it will be subject to ratification by individual nations.

According to media reports, the United States did not participate in the final round of negotiations, following its January announcement to withdraw from the global health body, and would not be bound by the pact.

Five Facts: Proposed pandemic agreement.

A breakthrough for health equity

Speaking at the conclusion of the meeting, WHO Director-General Tedros praised the negotiating teams and the INB leadership for their perseverance and shared purpose.

“This achievement is not just a diplomatic success,” he said. “It reflects your resilience, unity and unwavering commitment to the health and wellbeing of people everywhere.”

INB Co-Chair Precious Matsoso of South Africa called the outcome a breakthrough for health equity.

“The negotiations, at times, have been difficult and protracted. But this monumental effort has been sustained by the shared understanding that viruses do not respect borders – that no one is safe from pandemics until everyone is safe,” she said.

Fellow Co-Chair Anne-Claire Amprou of France added that the agreement lays the foundation for a stronger, more equitable global health security architecture.

“This is a historic agreement for health security, equity and international solidarity,” she said.

Learning from COVID-19, looking to the future

The agreement emerges in the aftermath of the COVID-19 pandemic, which exposed critical vulnerabilities in global health systems and stark inequalities in access to diagnostics, treatments, and vaccines. The virus claimed nearly seven million lives worldwide, severely disrupted economies, and overwhelmed healthcare services across the globe.

At the same time, the pandemic triggered the largest vaccination campaign in history, with over 13.3 billion doses administered globally by April 2023.

Looking ahead, Tedros emphasised the agreement’s long-term significance.

“The importance of this agreement goes beyond our current challenges,” he said.

“It is vital for future generations – for our children and grandchildren. By building a strong framework for pandemic preparedness and response, we ensure they inherit a safer and healthier world.”

A view of the closing session of Intergovernmental Negotiating Body (INB).

Myanmar: 'The pain of earthquake-affected women and girls has shocked me'

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On March 28, a magnitude 7.7 earthquake in Myanmar brought a terrible destruction with them. Many states and regions of the country including Mandale, Sagaiing, Magway, Bago have lost mass and property, and huge human needs are steeped. The United Nations Agency (UNFPA) for sexual and reproductive health, along with its partners organizations in this difficult time, is engaged in providing life -saving help to the needy population, especially women and girls.

NASA’s Curiosity rover unearths largest organic molecules ever detected on Mars

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In a stunning new development, NASA scientists have confirmed that the Curiosity rover has discovered the largest organic molecules ever found on the Martian surface. The groundbreaking analysis of an existing rock sample, “Cumberland,” within Curiosity’s onboard lab revealed the presence of decane, undecane, and dodecane – compounds with 10, 11, and 12 carbon atoms respectively.

These molecules are believed to be fragments of preserved fatty acids, key building blocks of life as we know it on Earth. While non-biological origins are possible, the size of these newly detected molecules significantly boosts the potential for the preservation of complex biosignatures on the red planet.

This discovery builds upon years of tantalizing findings by Curiosity, including the detection of smaller organic molecules, organic salts, and the measurement of total organic carbon comparable to Earth’s most extreme environments. The new data suggests that larger, more complex organic compounds could have survived for billions of years despite harsh Martian conditions.

The network of cracks in this Martian rock slab called “Old Soaker” may have formed from the drying of a mud layer more than 3 billion years ago. The view spans about 3 feet (90 centimeters) left-to-right and combines three images taken by the MAHLI camera on the arm of NASA’s Curiosity Mars rover.
Credits: NASA/JPL-Caltech/MSSS

Lead author Caroline Freissinet emphasized the significance, stating, “Our study proves that, even today, by analyzing Mars samples, we could detect chemical signatures of past life—if it ever existed on Mars.”

Scientists are particularly intrigued by the carbon chain length of the presumed fatty acids (11-13 carbons), as non-biological processes typically yield shorter chains. This raises the exciting possibility of longer-chain fatty acids, often associated with biological activity, being present.

While the exact origin of these molecules remains under investigation, this major breakthrough reinforces the critical need for Mars Sample Return missions to conduct in-depth analysis with advanced Earth-based instruments.

“We are ready to take the next big step and bring Mars samples home to our labs to settle the debate about life on Mars,” declared Dr. Daniel Glavin.

This latest discovery marks a significant leap in our understanding of Martian organic chemistry and further fuels the compelling narrative that Mars may have once harbored the conditions necessary for life. The search for evidence of past life on the red planet has just intensified.

Ola Electric Shares Drop 3% to Rs.87.44 Amid Pricing Investigation and Regulatory Scrutiny

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Shares of Ola Electric fell nearly 3% on Monday, marking the third straight session of decline, as the company faces scrutiny over its pricing practices. The Automotive Research Association of India (ARAI), under the Ministry of Heavy Industries, has asked the electric vehicle (EV) manufacturer to clarify recent price cuts on its S1 X 2 kWh electric scooter during a promotional sale.

Ola Electric’s stock closed at Rs 87.44 per share, continuing its decline from an all-time high of Rs 157.40. If the company fails to provide a satisfactory explanation to the ARAI, it could face legal action and may lose access to subsidies offered under the government’s PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.

Reports suggest that if pricing violations are discovered, Ola Electric could face penalties in line with E-DRIVE guidelines. The probe adds to the growing list of regulatory challenges facing Bhavish Aggarwal’s EV firm.

Growing Consumer Complaints

In addition to the ARAI inquiry, Ola Electric has been hit with a notice from the Central Consumer Protection Authority (CCPA). The notice follows over 10,000 complaints filed with the National Consumer Helpline (NCH) over the past year, mostly related to poor after-sales service.

Ola Electric has been given 15 days to respond to the CCPA’s show-cause notice. The complaints range from unresolved technical issues to delays in refunds and subpar customer support.

The government has also directed Ola Electric to implement better consumer protections for its ride-hailing services, including offering customers the option to choose their preferred refund method and ensuring that proper invoices are provided for all auto rides booked through its platform. Since the beginning of 2024, over 2,000 complaints have been registered against Ola’s ride-hailing service, many citing discrepancies between the fare shown at booking and the amount charged.

The ongoing investigations and consumer complaints highlight the challenges Ola Electric faces in maintaining customer trust and complying with regulatory standards. As Ola continues to expand its EV portfolio, addressing these issues will be crucial for restoring investor confidence and ensuring long-term growth.

India’s Ship Recycling Industry To See 10% Growth by 2028: Report

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India’s ship recycling industry is poised for substantial expansion, with an expected compound annual growth rate (CAGR) of 10% by 2028, positioning it as a key player in the global market. According to a report by CareEdge Ratings, India accounted for 33% of the global gross tonnage (GT) dismantled in 2023, placing it second only to Bangladesh, which handled 46% of global ship dismantling.

The industry is projected to grow to 3.8-4.2 million GT by 2025, up from an estimated 2.3-2.6 million GT in 2024. A major contributor to this growth is India’s robust infrastructure, particularly the Alang-Gujarat facility, one of the world’s largest ship recycling hubs with over 140 recycling yards.

India’s position in the global maritime sector is critical. Alongside Bangladesh, Pakistan, and Turkey, the country dominates more than 90% of global ship recycling activity. While contributions from other nations have been inconsistent, India has remained a steady leader in this field.

Market Insights and Future Potential

According to Sajni Shah, Assistant Director at CareEdge Ratings, several factors suggest a significant increase in ships entering the recycling market from 2025 onwards. These include the cooling-off of the Baltic Dry Index (BDI), stabilizing scrap prices, and a rise in obsolete ships. Additionally, countries with advanced infrastructure and green recycling capabilities are expected to capture a larger share of the global market in the future.

Despite the promising outlook, the industry faces challenges, particularly with fluctuating scrap prices. Prices for heavy melting scrap in Bhavnagar surged from Rs 28,800 per tonne in August 2020 to Rs 54,400 in April 2022, driven by supply chain disruptions and increased steel demand post-pandemic. By December 2023, prices had settled at Rs 39,900 per tonne, stabilizing between Rs 36,000 and Rs 44,000 per tonne throughout 2023.

The industry also grapples with safety and regulatory issues. For instance, in Bangladesh, ship recycling is often hazardous, with workers and nearby communities exposed to toxic materials that threaten their health and livelihood. This highlights the urgent need for stricter regulations and improved safety standards across the sector.

India’s ship recycling industry is set for impressive growth in the coming years, bolstered by strong infrastructure and increasing global demand. However, the industry’s long-term success will depend on implementing stringent regulations and ensuring the safety of workers and the environment. A balanced approach that prioritizes both economic development and sustainability will be key to unlocking the full potential of India’s ship recycling sector.

2024 Nobel Peace Prize Goes to Japan’s Anti-Nuclear Movement ‘Nihon Hidankyo’

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As global nuclear powers continue modernizing their arsenals and tensions rise over potential use of these devastating weapons, the 2024 Nobel Peace Prize was awarded to Nihon Hidankyo, a Japanese grassroots organization of atomic bomb survivors. The group, comprised of survivors from Hiroshima and Nagasaki, has long advocated for the complete elimination of nuclear weapons.

The Norwegian Nobel Committee, which selects the Peace Prize laureates, praised Nihon Hidankyo for its relentless efforts to promote a world free from nuclear weapons. The committee stated that the organization has effectively demonstrated, through witness testimonies, that nuclear weapons must never be used again.

Nihon Hidankyo’s origins date back to the aftermath of the atomic bombings of Hiroshima and Nagasaki in August 1945, which killed an estimated 120,000 people instantly and claimed many more lives due to radiation in the following years. In 1956, survivors of the bombings, known as Hibakusha, alongside victims of nuclear tests in the Pacific, formed the Japan Confederation of A- and H-Bomb Sufferers Organisations. This group later became Nihon Hidankyo, the largest and most influential organization representing atomic bomb survivors.

The Nobel Committee emphasized that over the decades, Nihon Hidankyo has played a pivotal role in raising awareness about the catastrophic humanitarian consequences of nuclear weapons. Through personal accounts and active participation in international forums, the Hibakusha have helped establish a global “nuclear taboo,” a moral opposition to the use of nuclear weapons.

In recognizing Nihon Hidankyo’s work, the committee paid tribute to the survivors who, despite their physical and emotional suffering, have chosen to use their experiences to foster peace and disarmament. The organization has sent delegations to the United Nations, participated in peace conferences, and issued countless public appeals to keep nuclear disarmament on the global agenda.

While no nuclear weapon has been used in warfare for nearly 80 years—a fact the committee called “encouraging”—it warned that today the nuclear taboo is under threat. With nuclear powers upgrading their arsenals and new countries seeking to acquire these weapons, the risk of nuclear conflict has reemerged in international discourse.

The committee noted the urgency of this issue as the 80th anniversary of the Hiroshima and Nagasaki bombings approaches next year, underscoring the growing dangers posed by modern nuclear weapons, which are far more destructive than those used in 1945.

“The Hibakusha help us comprehend the unimaginable suffering caused by nuclear weapons,” the committee said, adding that Nihon Hidankyo’s work ensures that future generations will continue to carry forward the message of peace and nuclear disarmament.

In honoring Nihon Hidankyo, the Nobel Peace Prize recognizes not only the survivors of Hiroshima and Nagasaki but also their ongoing legacy of advocacy in the global fight for a nuclear-free world.

Festive Boom in E-commerce Sales Cross Rs 54,500 Crore in One Week

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Indian e-commerce platforms recorded sales exceeding Rs 54,500 crore in the first week of the festive season, making up approximately 55% of the total sales projected for the upcoming month.

According to data from Datum Intelligence, a consumer technology market research firm, this marks a 26% increase in sales compared to the same period in 2023. The primary drivers of these sales were mobiles, electronics, and consumer durables, with home and general merchandise categories also contributing significantly. These categories accounted for 75% of the overall sales, while smartphones and TVs led purchases in tier 2 and tier 3 cities, making up over 70% of sales in these regions.

The festive shopping period, which began on September 26, will continue until November 3, concluding after Diwali. Overall sales during this period are expected to reach Rs 1 lakh crore.

Fashion, groceries, beauty, and personal care products have seen a notable surge in demand, with sales rising by 2-4 times compared to regular periods. Similarly, orders for toys, books, and kitchen essentials increased 2-5 times in the first week.

Shoppers are increasingly turning towards quick-commerce platforms, especially for lower-priced categories like groceries, beauty, and personal care. Key trends this festive season include the influence of Artificial Intelligence (AI), the rise of micro-influencers, and the growing popularity of quick-commerce in shaping consumer choices.

In a separate report, it is projected that more than 35 million smartphones will be sold during the festive period, marking a 3% year-on-year (YoY) growth in volume and a 9% YoY increase in value. The ultra-premium smartphone segment (priced above Rs 45,000) saw a 12% YoY growth during the initial week of sales, driven by strong performances from Apple and Samsung. The festive season typically accounts for 20-25% of the annual smartphone sales in India.

Noel Tata Named New Chairman of Tata Trusts Following Ratan Tata’s Demise

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Noel Naval Tata, the newly-appointed Chairman of Tata Trusts, on Friday said he looks forward to carrying on the legacy of Ratan Naval Tata and the founders of the Tata Group.

Earlier, the Tata Trusts board met at a joint meeting held in Mumbai and took the unanimous decision to appoint Noel Tata, the half-brother of Ratan Tata, as the new Chairperson after the latter’s demise.

“I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group,” said Noel Tata. “Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation-building,” he added.

The Trustees condoled the demise of Ratan Tata, and recalled his yeoman services not only to the Tata Group but also to nation-building. In separate meetings held immediately, thereafter, it was unanimously decided to appoint Noel Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts.

Noel Tata’s appointment comes into effect immediately. Noel Tata is known for his relatively low-profile leadership, a stark contrast to Ratan Tata’s more public-facing role. He has been instrumental in driving the conglomerate’s growth since he joined the Tata Group in the early 2000s.

Earlier this year, Noel Tata’s three children — Leah, Maya and Neville — were appointed as trustees in multiple trusts associated with the Sir Ratan Tata Trust and Sir Dorabji Tata Trust. Leah is currently Vice President at The Indian Hotels while Maya is associated with Tata Capital. Neville is involved in Trent and the leadership team at Star Bazaar.

Since 1892, Tata Trusts, the oldest philanthropic institution in the country, has been at the forefront of creating lasting impact among communities. Rooted in the visionary philanthropy of our Founder, Jamsetji Tata, the Trusts remain resolute in catalysing transformative change and leading advancements that uplift communities across the nation.

Tata Trusts, which oversees the operations of 14 charitable trusts, holds a 65.3% stake in Tata Sons and plays a vital role in guiding the direction of the conglomerate. The largest shareholders in Tata Sons are the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, together controlling more than 50% of Tata Sons’ ownership. The executive committee, previously chaired by Ratan Tata, includes key members like Venu Srinivasan, Vijay Singh (both Vice Chairmen of Tata Trusts), and trustee Mehli Mistry.

In the 2022-2023 fiscal year, Tata Trusts made significant contributions to various charitable initiatives, disbursing Rs 581.52 crore in grants. The Sir Ratan Tata Trust contributed Rs 456.42 crore, while the Sir Dorabji Tata Trust disbursed Rs 125.10 crore.

 

Indian Stock Market Boom Fuels Demat Account Surge to Reach 175 Million in September

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The Indian financial market has been witnessing a significant surge in the number of demat accounts, according to a recent report by Motilal Oswal Financial Services.  The total number of these accounts reached 175 million in September, up from 171 million in August. This increase is a testament to the robust performance of the Indian stock market, which continues to outperform its global counterparts, attracting more investors and driving up the number of active clients on the National Stock Exchange (NSE).

The NSE, a pivotal player in the Indian financial market, saw its active client base increase by 2.4% on a month-on-month basis, reaching 47.9 million in September. This growth is not an isolated incident but part of a larger trend. The report highlighted that new account additions jumped by 4.4 million in September, with an average monthly addition of 4 million in the current fiscal year to date.

The Indian stock market’s performance has not only attracted new investors but also reshaped the landscape of brokerage firms. The report indicated that the top five discount brokers now account for 64.5% of total NSE active clients, a significant increase from 61.9% in the same month last year.

Brokerage Firms and Depositories: A Changing Landscape

This shift towards discount brokers underscores the changing preferences of investors who are increasingly seeking cost-effective trading options. Among the depositories, Central Depository Services Limited (CDSL) continued to gain market share in terms of the total number of demat accounts. However, on a year-on-year basis, National Securities Depository Limited (NSDL) lost 410bp/90bp market share in total/incremental demat accounts.

The report also shed light on the performance of various online brokerages. Zerodha, a leading online brokerage, reported a 1.1% on-month increase in its client count, reaching 8 million. However, it experienced a slight dip in market share, falling 20bp to 16.6%. On the other hand, Groww, another popular online brokerage, reported a 3.1% increase in its client count, reaching 12.3 million, and a 15bp rise in market share to 25.6%.

Angel One, another key player in the market, also saw a 3.1% increase in its client count, reaching 7.4 million, and a 10bp rise in market share to 15.4%. Upstox reported a 1.5% month-on-month increase in its client count to 2.8 million, but experienced a 5bp fall in market share to 5.9%.

Market Performance and Future Outlook

ICICI Securities, on the other hand, reported a client count of 1.9 million, with a 10bp dip in its market share to 4.2%. The report also provided insights into the overall average daily turnover (ADTO), which grew 7.1% on-month to Rs 538.6 lakh crore. The futures and options ADTO rose by 7.2%, while the cash ADTO declined by 3.8%.

This surge in demat accounts and active clients on the NSE is reminiscent of the boom in retail investing witnessed globally during the COVID-19 pandemic. As lockdowns were imposed worldwide, many individuals turned to stock trading, leading to a surge in demat accounts.

Indian stocks open lower today following weak signals from US markets

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The Indian stock market started the day on a subdued note, reacting to weak signals from the U.S. markets. Major banking stocks were hit hard, pulling down indices, though select sectors like technology showed resilience and gained traction in the face of a broader decline.

By mid-morning, the Sensex was down 142 points, or 0.17%, at 81,469, while the Nifty slipped by 36 points, or 0.12%, to 24,960. Banking stocks weighed heavily on the market, with the Nifty Bank index falling 204 points, or 0.40%, to 51,326. Despite this, some stocks like HCL Tech, Wipro, Tata Steel, Tech Mahindra, and Sun Pharma recorded gains, highlighting some sectoral strength.

A more detailed look at the market revealed a mixed sectoral performance. Tech stocks led the pack with positive movement, as IT giants like Infosys and TCS showed gains, while sectors like banking, auto, and FMCG faced losses. Notable decliners included ICICI Bank, HDFC Bank, Bajaj Finance, and Kotak Mahindra Bank.

However, not all was bleak—midcap and smallcap stocks provided a silver lining. The Nifty Midcap 100 index edged up 79 points, or 0.13%, to 58,995, while the Nifty Smallcap index increased by 39 points, or 0.18%, to 18,939. This points to a relative resilience among smaller firms, which have managed to maintain their momentum even in a challenging environment for larger companies.

Global and Sectoral Influences

The broader market sentiment reflected mixed global cues. While most Asian markets, including Tokyo, Seoul, and Hong Kong, were trading positively, the weak performance of U.S. markets on Thursday set the tone for a cautious opening in India. Experts suggest that the U.S. market’s dip, rather than Asian market gains, played a more significant role in driving the early declines in Indian equities.

Sectorally, IT, pharma, and metals fared well, while sectors like auto, financial services, FMCG, and energy underperformed. This uneven performance across sectors indicates that the market’s losses were not uniformly distributed.

But market experts predict heightened volatility due to external factors. Foreign institutional investors (FIIs) continue to sell, driven by more attractive valuations in other markets, particularly China. On Friday alone, FIIs offloaded Rs 4,926 crore in Indian equities though domestic institutional investors (DIIs) have stepped in to counterbalance the selling pressure, purchasing Rs 3,878 crore worth of equities.

Insurance Revenue Last Year Doubles to Rs 100 Crore: Report

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Insurance sector has doubled its revenues in fiscal 2023-24 reaching Rs 100.28 crore, compared to Rs 48.74 crore in FY22-23, reports said.

Founded in 2016 by Ankit Agrawal and Ish Babbar, Gurugram-based insurtech platform Insurance Dekho that compares and offers  data on various types of insurance purchases, including motor, health, life, travel, and pet insurance, said in its report. It competes with established players like Acko and Policy Bazaar in India’s growing insurtech sector.

Insurance Dekho has raised a total of Rs 1,742.28 crore over two funding rounds, with its latest Series B round in October 2023 led by MUFG and BNP Paribas Cardif, valuing the company at over Rs 1,000 crore. In April 2023, the platform made strategic acquisitions of IRSS and Verak to expand its footprint.

The company’s financial performance in FY23 showed not only a surge in revenue but also a narrowing of losses. Its net loss reduced to Rs 51.59 crore from Rs 70 crore in FY22. Despite this improvement, Insurance Dekho’s expenses also climbed, reaching Rs 151.88 crore, driven largely by employee benefits, which accounted for over 50% of the total, followed by costs in advertising, finance, and legal services.

The platform’s key financial metrics remained in negative territory, with an EBITDA margin of -44.98% and a Return on Capital Employed (ROCE) of -15.28%, indicating continued challenges in profitability. However, the reduction in losses suggests a path toward greater financial stability as the company scales its operations.

The majority of Insurance Dekho’s shares are held by Amit Jain, who controls over 50%, alongside prominent investors such as West Street and TVS Shriram Growth AIF.

As the insurtech market in India continues to expand, Insurance Dekho’s robust revenue growth and strategic acquisitions position it for further success despite the current hurdles in profitability.

Indian Stock Market Next Week: RBI MPC Decision, Q2 Earnings, and Mid-East Crisis in Focus

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The Indian stock market is on the cusp of a critical week, with the upcoming RBI Monetary Policy Committee (MPC) meeting, second-quarter (Q2) corporate earnings, and industrial production (IIP) data expected to shape market trends. Investors are bracing for potential volatility as these key indicators, combined with global market dynamics and geopolitical tensions, will provide insights into the health of India’s economy and determine the short-term market outlook.

The RBI’s MPC meeting, set for October 7-9, is expected to maintain the benchmark repo rate at 6.5%, a level it has held steady for nine consecutive meetings since August 2024. This move aligns with market expectations, as the central bank remains focused on reining in inflation while supporting economic growth. With consumer inflation still hovering above the RBI’s target of 4%, there is little room for a rate cut, despite pressures from other global central banks, particularly the U.S. Federal Reserve, which has signaled monetary easing.

Analysts believe that a rate hold would provide stability in the current inflationary environment but note that any surprises—such as a shift in policy stance—could trigger volatility. The market will also look for commentary from the RBI on inflation control measures and future growth prospects, particularly as domestic inflation has been driven by erratic food prices.

Q2 Earnings: Key for Market Sentiment

As the Q2 earnings season kicks off, results from major companies such as TCS, Tata Elxsi, and DMart will be closely monitored. Investors will look for signs of corporate profitability and recovery, especially in sectors sensitive to inflation and global commodity prices. The earnings season will offer a clearer picture of how Indian corporations are navigating rising input costs, driven in part by surging global crude oil prices, which have hit industries reliant on oil derivatives, such as chemicals and paints.

Stronger-than-expected earnings could bolster market sentiment and provide relief after last week’s sharp selloff, when the Nifty and Sensex dropped nearly 4.50%. However, any earnings disappointments, especially from key sectors like IT and consumer goods, could exacerbate the current market downturn.

The upcoming release of IIP data, which tracks the country’s industrial activity, will serve as a barometer for the state of economic recovery. Industrial production is a key indicator for assessing manufacturing growth and overall economic resilience in the face of global headwinds. A strong IIP report could boost investor confidence, signaling that India’s industrial sector is performing well despite inflationary pressures. Conversely, weak numbers could dampen market sentiment, reinforcing concerns about the sustainability of economic growth.

Crude Oil Prices

Global influences are expected to play a major role in determining the market’s direction. The recent diversion of Foreign Institutional Investor (FII) funds to China, following the country’s introduction of monetary stimulus, has been a key driver behind last week’s market slump. FIIs sold equities worth Rs 40,511 crore, even as Domestic Institutional Investors (DIIs) attempted to cushion the blow by purchasing Rs 33,075 crore worth of shares.

Geopolitical tensions in the Middle East, particularly the escalating conflict between Israel and Iran, are also weighing on market sentiment. Rising crude oil prices, driven by these tensions, have led to concerns about input cost inflation for domestic companies. The impact is particularly pronounced in industries dependent on oil-related inputs, such as paints and chemicals, which face shrinking margins if crude prices remain elevated.

Additionally, the minutes from the U.S. Federal Open Market Committee (FOMC) meeting will be scrutinized for signals about future interest rate actions. Any hints of further rate cuts or continued monetary tightening in developed economies could influence FII behavior, either drawing more funds out of Indian markets or stabilizing them depending on the global outlook.

Market Outlook and Risks Ahead

Technical experts warn that the Indian market is entering a decisive phase. Last week’s sharp downturn saw both the Nifty and Sensex break their three-week winning streak, raising concerns about further declines. The Nifty’s critical support level of 24,700 is being closely watched, with analysts warning that a breach of this level could lead to a further slide toward 24,400. Meanwhile, the Bank Nifty is testing its 100-day moving average at 51,100, with the 50,000-49,500 range providing additional support.

Palka Arora Chopra, Director at Master Capital Services, emphasized the growing selling pressure, noting that the Nifty has formed a strong bearish pattern. “If critical support levels break, we may see extended declines,” she warned. Senior Technical Analyst Pravesh Gour of Swastika Investmart echoed this sentiment, adding that the Bank Nifty’s 200-day moving average remains a key support zone.

The coming week is set to be pivotal for the Indian stock market. The outcome of the RBI’s MPC meeting, combined with corporate earnings and IIP data, will determine the immediate direction of the market. Investors are also closely watching global factors, such as FII movements, crude oil prices, and geopolitical risks, which could exacerbate market volatility.

As market experts warn of potential declines if key support levels are breached, investors will need to stay nimble, balancing short-term risks with long-term opportunities as India navigates a challenging economic environment.

RBI Likely to Hold Rates Amid Inflation Concerns, Focus Shifts to Global Trends

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As the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meets from October 7-9, experts are predicting that the central bank will maintain the current policy rates. The decision is expected to be influenced by persistent inflationary pressures and uncertainties in the global economic landscape. While the U.S. Federal Reserve has recently cut rates, signaling a potential easing cycle, the RBI is likely to adopt a cautious stance, prioritizing inflation control over rate cuts, according to analysts.

The primary factor guiding the MPC’s expected decision to maintain the status quo is the central bank’s ongoing battle against inflation. Consumer Price Index (CPI) inflation, which remains above the RBI’s 4% target, has seen fluctuations largely driven by food price volatility. This has led policymakers to tread carefully, avoiding premature rate cuts that could reignite inflation.

Ajit Banerjee, President and Chief Investment Officer at Shriram Life Insurance, noted that the RBI will likely wait until it is certain that inflation has been durably controlled. “The committee is expected to hold rates steady until there’s clear evidence that inflation, especially food-driven spikes, are less of a threat,” he explained.

India’s GDP growth, while not alarmingly low, has been moderate. The first quarter’s 6.7% growth was influenced by a slowdown in government investment, mainly due to election-related factors. With government capital expenditure resuming in the second quarter, GDP growth is expected to align with RBI’s earlier projections. However, experts say the domestic growth trajectory doesn’t warrant urgent rate cuts at this stage.

Mandar Pitale, Head of Treasury at SBM Bank India, pointed out that while growth remains robust, the MPC will likely stay cautious. “Strong GDP growth numbers in India reduce the immediate pressure on the RBI to cut rates. The focus is more on ensuring that inflation stabilizes over the long term,” Pitale added.

Global Economic Uncertainty and Fed Influence

The global economic environment also weighs heavily on the MPC’s deliberations. Recent rate actions by developed economies, particularly the Federal Reserve, have added complexity to the RBI’s decision-making process. While the Fed’s rate cut could suggest a global trend toward monetary easing, the MPC is expected to be wary of following suit too quickly.

Pitale highlighted that global factors, such as inflation trends in developed markets and the Fed’s forward guidance on rates, would play a critical role in the committee’s discussions. “The RBI is aware of the nonlinear guidance coming from global central banks, which creates uncertainties about the future direction of monetary policy globally,” he said.

While no immediate rate cuts are expected, the tone of RBI Governor Shaktikanta Das’s commentary could signal future policy direction. A dovish shift, with hints of a more neutral stance, may emerge if inflation moderates in the coming months. However, the reconstitution of the MPC, with three new external members, makes a drastic policy shift unlikely in this meeting.

Banerjee suggested that while significant changes in this meeting are improbable, a dovish tone could set the stage for future rate cuts, provided inflation eases. “A shift in the MPC’s stance isn’t entirely off the table, but the immediate focus remains on inflation management,” he said.

The RBI’s decision to maintain its restrictive policy is a calculated move to ensure inflation is brought under control, aligning with its long-term target. As global economic dynamics remain uncertain and domestic inflation continues to challenge policy stability, the central bank is likely to hold off on any major policy shifts in the near term.

In the coming months, both domestic inflation trends and global economic factors will determine whether the RBI begins to ease its policy stance. For now, the central bank seems set on a cautious, wait-and-watch approach.

What are Forever Chemicals? Study Reveals They’re Linked to Sleep Disruptions

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A groundbreaking study led by the University of South California (USC) has unveiled a concerning link between high levels of per- and polyfluoroalkyl substances (PFAS), also known as ‘forever chemicals’, and sleep disruptions.

This research, published in the journal Environmental Advances, has shed light on the potential health risks associated with these pervasive chemicals. PFAS are a group of man-made chemicals that have been used in a variety of industries around the globe since the 1940s. They are found in a wide range of consumer products that people use daily such as cookware, pizza boxes, and stain repellants.

Due to their chemical structure, PFAS are resistant to heat, water, and oil, earning them the moniker forever chemicals. They do not break down easily and can persist in the environment and the human body for extended periods. The USC study examined the blood samples and sleep patterns of 144 participants aged between 19 and 24.

The researchers found that higher levels of four specific types of PFAS – PFDA, PFHxS, PFOA, and PFOS – were significantly associated with less sleep or worse quality of sleep.

The Impact of PFAS on Sleep and Health

Young adults with higher levels of these toxic chemicals in their blood had 80 fewer minutes of sleep at night. They also had trouble falling asleep, staying asleep, waking up, or feeling tired during waking hours. Sleep is a fundamental pillar of health.

A person must sleep 7-8 hours daily. Prolonged poor sleep may raise chronic health issues, including diabetes and Alzheimer’s disease. The study’s findings are particularly concerning given the widespread presence of PFAS in our environment and daily lives.

Previous studies have shown that PFAS have contaminated water, food, and people through products such as Teflon pans, waterproof clothing, stain-resistant carpets and fabrics, and food packaging. They have also been linked to cancers of the breast, ovary, skin, and uterus in women, among other diseases.

The USC study also examined the overlap between genes affected by the four forever chemicals and genes related to sleep disorders. Out of 600-plus candidate genes, seven activated by PFAS seemed to influence sleep.

Historical Parallels and Reducing Exposure

This included HSD11B1, which helps produce the hormone cortisol that plays an important role in regulating the rhythm of sleep and wakefulness. Another gene was cathepsin B, related to cognitive function and memory. Disruption in this gene was linked to Alzheimer’s.

The study’s findings echo historical events where chemicals once deemed safe were later found to have harmful effects on human health. For instance, lead was widely used in paint, gasoline, and plumbing until research revealed its toxic effects, particularly in children. Similarly, asbestos was a popular building material until its fibers were found to cause lung diseases.

The USC study adds to the growing body of evidence suggesting that PFAS could be the next major public health concern.

To reduce exposure to PFAS, individuals can avoid using products that are stain-resistant, waterproof, or nonstick, as these often contain PFAS. They can also choose natural fiber clothing, use glass, stainless steel, or ceramic cookware instead of Teflon or other nonstick pans, and be cautious with food packaging, especially for microwave meals.

Filtering drinking water with a system designed to remove PFAS, if necessary, and being mindful of personal care products, checking labels for PFAS ingredients, can also help. As we continue to learn more about these forever chemicals, it is crucial that we take steps to minimize our exposure and protect our health.

Amazon Finds New Ally In India Post’s Parcel Delivery Network To tap Rural Consumers

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In a calculated move to enhance logistics operations, Amazon and the Department of Posts signed a Memorandum of Understanding (MoU) on Friday. This partnership will leverage India’s vast postal network, comprising over 1.6 lakh post offices, to facilitate faster parcel delivery across the country, including remote regions.

The collaboration aims to optimize logistics and business operations for both parties. Amazon will gain access to the postal department’s expansive infrastructure, enabling it to improve delivery speed and efficiency while exploring opportunities for business expansion in underserved areas.

Key areas of the partnership include synchronization of logistics operations, knowledge-sharing, and capacity-sharing opportunities, according to a statement from the Ministry of Communications. Both parties will conduct quarterly reviews to assess progress and explore further avenues for enhancing the partnership.

This alliance is set to streamline Amazon’s logistics operations, aligning with its growing e-commerce needs, while also scaling up the Department of Posts’ parcel business. By working closely with Amazon, the postal department aims to enhance its expertise in e-commerce logistics and contribute to India’s broader goal of becoming a global logistics hub.

Amazon and the Department of Posts have been collaborating since 2013, utilizing the postal network for parcel transmission. This new MoU strengthens their ongoing relationship, aiming to support India’s burgeoning e-commerce sector by improving logistical capabilities and fostering economic growth.

In a related development, the Ministry of Labour and Employment recently signed an MoU with Amazon to enhance employment accessibility in India. This two-year partnership focuses on leveraging the National Career Service (NCS) portal to boost job opportunities, particularly for women and ‘divyang’ (differently-abled) candidates.

Snoring Linked to High Blood Pressure, Australian Study Finds

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A new Australian study has revealed that regular snoring may lead to higher blood pressure. Researchers from Flinders University in South Australia found that people who snore often are more likely to suffer from elevated blood pressure and uncontrolled hypertension.

The study monitored 12,287 participants over six months, using home-based sleep tracking technology. It showed that 15% of the participants snored for more than 20% of the night. Those who snored heavily had a 3.8 mmHg higher systolic blood pressure and 4.5 mmHg higher diastolic pressure compared to non-snorers.

Hypertension, commonly known as high blood pressure, occurs when blood vessels have consistently high pressure. This condition can cause heart attacks, strokes, heart failure, and other serious heart diseases.

“For the first time, we can say there’s a strong link between frequent snoring at night and high blood pressure,” said Bastien Lechat, lead author of the research from the College of Medicine and Public Health at Flinders University in Australia. He stressed the importance of addressing snoring in managing hypertension.

The World Health Organization estimates that 1.28 billion adults globally have hypertension, with nearly half of them unaware of their condition.

Swiggy Increases IPO Size to $1.4 Billion, Plans to Expand ‘Instamart’

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In a significant development in India’s burgeoning IPO market, SoftBank-backed food delivery giant, Swiggy, has received approval from its shareholders to increase the size of its fresh issue in its upcoming IPO. The approval will allow the company to raise the fresh issue size to 50 billion rupees ($595 million), a substantial increase from the previously planned 37.5 billion rupees. This information was disclosed by individuals privy to the matter on Thursday, 10th March 2024.

The Indian IPO market has been on a tear, with approximately 250 companies raising over $9 billion so far this year. This figure is more than double the amount raised during the same period last year, according to data from the London Stock Exchange Group (LSEG). The increase in Swiggy’s fresh issue size will further boost this trend, contributing to the market’s robust growth.

Swiggy’s existing shareholders will sell shares worth 66.64 billion rupees, a figure that remains unchanged despite the increase in the fresh issue size.

Swiggy’s IPO: A New Benchmark

The increase in the fresh issue size will push the total size of Swiggy’s initial public offering to $1.4 billion, up from the previously planned $1.25 billion. This makes Swiggy’s IPO one of the largest in the country this year, surpassing NTPC Green Energy’s $1.2 billion public offering filing.

Swiggy, headquartered in Bengaluru, had filed its draft papers for the IPO last week. The company is reportedly targeting a valuation of $15 billion, a testament to its rapid growth and dominant position in India’s food delivery market. However, Swiggy did not immediately respond to a request for comment on these developments.

The company’s investment plans following the IPO are ambitious and forward-looking. A key focus area is the expansion of its quick-commerce business, ‘Instamart’.

Instamart: The Future of Quick Commerce

This service aims to deliver everything from groceries to higher-margin electronics in just 10 minutes, a feat that would revolutionize the e-commerce landscape. Swiggy’s rivals, including Zomato and Zepto, are also racing to establish their presence in this promising segment.

The shareholder approval for the upsized IPO marks a significant milestone for Swiggy. The main shareholder in the company, SoftBank, has been instrumental in supporting Swiggy’s growth and will likely play a crucial role in the IPO process. The upsized IPO, approved on Thursday, 10th March 2024, will provide Swiggy with additional resources to execute its ambitious growth plans.

Historically, the upsizing of IPOs has been a strategy employed by companies expecting strong investor demand. For instance, in 2020, Snowflake Inc., a cloud-based data warehousing startup, upsized its IPO due to overwhelming investor interest, raising $3.4 billion and marking the largest software IPO in history.

Similarly, Swiggy’s decision to upsize its IPO could be indicative of strong investor confidence in the company’s growth prospects and the overall potential of India’s digital economy.