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GLB TIMES - 22 Oct'24 (ALPHA)

22 October mint cut of glb

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26 views9 pages

GLB TIMES - 22 Oct'24 (ALPHA)

22 October mint cut of glb

Uploaded by

shubhirajput0509
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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GLB TIMES

22,OCTOBER,2024 TUESDAY

ECONOMICS & POLICY


LARGE FIRMS CATCH INDIA’S STARTUP BUS
Large Indian firms and startups launch incubators/accelerators, driving:

- Adaptability and innovation


- Access to emerging trends
- Support for young startups (e.g., PhysicsWallah, Games24x7, Emami)

CHINA PACKAGE STIMULATES INDIAN STEEL


- Indian steelmakers benefit from China's stimulus package, reversing import price
disadvantage.
- Chinese HRC prices now ₹3,000/tonne above domestic Indian prices,
potentially boosting local steel industry.

TOP AUTO FIRMS MISS EMISSION TARGETS.


Eight Indian automakers, including
Hyundai, Kia, and Mahindra, failed to meet
the Corporate Average Fuel Efficiency
(CAFE-II) norms for FY23, incurring
penalties.

- Maruti Suzuki and Tata Motors met the


norms, while the government delays
releasing the emissions compliance
report due to indecision on penalties
and next steps..
22,OCTOBER,2024 TUESDAY

DEALS, TECH &STARTUPS


INDIAN CONSUMER BRANDS DITCH MARKETPLACES, SEE
64% GROWTH ON OWN PLATFORMS

- Indian consumer brands see 64% order growth on their websites,


outpacing marketplaces (26%).
- Brands reduce marketplace reliance, citing high costs, and focus on direct
sales and customer loyalty.

SHEETAL VINOD TALWAR GAINS FULL OWNERSHIP OF


PHANTOM STUDIOS.
- Sheetal Vinod Talwar's Vistaar Group acquires remaining 30% stake in
Phantom Studios from co-founder Madhu Mantena, valuing the company at
₹200 crore.

- Talwar now owns 100% stake in Phantom Studios, which will continue under
CEO Srishti Behl's leadership, following a series of ownership changes since
its founding in 2011.

ADAR POONAWALLA TAKES 50% STAKE IN KARAN JOHAR'S


DHARMA.

Adar Poonawalla's Serene


Productions to acquire 50% stake
in Karan Johar's Dharma
Productions for ₹1,000 crore.

Dharma Productions now valued


at ₹2,000 crore; Karan Johar to
remain executive chairman,
overseeing creative vision.
22,OCTOBER,2024 TUESDAY

GLOBAL AFFAIRS
J&J'S KETAMINE- DERIVED DRUG IS FINALLY TAKING OFF

- Johnson & Johnson's Spravato, a nasal spray derived from ketamine, is


gaining traction as a treatment for depression, with monthly prescriptions
surpassing 46,000 and expected annual sales potentially reaching $5 billion.

- Spravato is approved for patients with treatment-resistant depression and


suicidal thoughts, and its use is tightly controlled due to potential side effects,
requiring administration in certified health facilities with patient monitoring.

- Despite initial slow adoption, Spravato's growth is driven by promoting its


benefits, expanding clinic networks, and assisting healthcare providers, with
over 2,800 US facilities now certified to administer the drug.
PERPLEXITY, AN AI SEARCH STARTUP, SEEKS FUNDING TO MORE
THAN DOUBLE ITS VALUATION.
- Perplexity, an AI search company, seeks to raise $500 million, valuing it at $8
billion+, more than doubling its summer valuation of $3 billion.

- The startup's annualized revenue has grown from $10 million in March to $50
million currently, with plans to expand revenue streams through premium
subscriptions, enterprise services, and advertisements.

-Perplexity, backed by Jeff Bezos and facing criticism from web publishers over
content usage, aims to ride the wave of interest in AI startups following
OpenAI's $6.6 billion funding round at a $157 billion valuation.
22, OCTOBER,2024 TUESDAY

MARK TO MARKET
HAVELLS' VALUATION, LLOYD TURNAROUND UNDER
SCRUTINY.

-Havells India shares fell 6.5% after weak Q2FY25 results.


-Revenue grew 16.5% y-o-y, but EBITDA growth was under 2%.
-B2C revenue up 20%; B2B increased 9%.
-Havells is investing ₹450 crore in a new cables plant.
-Lloyd’s EBITDA margin improved to 14%.
WAAREE ENERGIES IPO RIDES A
SURGE IN RENEWABLES STOCKS

- Waaree Energies Ltd's $514 million IPO


was fully subscribed in hours, with 21.1
million shares oversubscribed over two times,
indicating high investor interest.

- Valued at $5 billion, Waaree's IPO attracted


investments from major firms like Goldman
Sachs and Morgan Stanley, highlighting
confidence in India's renewable sector.

- Indian renewable stocks surged up to 357%


this year, with six of the top ten performers
on Bloomberg's World Energy index being
Indian companies.
22, OCTOBER, 2024 TUESDAY

CORPORATE
RBI : AI IN BANKING POSES BIAS RISKS.
-The use of Artificial Intelligence (AI) in banking poses
challenges such as bias and issues related to the ethical
use of data, despite its potential to improve risk
assessment and fraud detection
- AI in banking raises concerns about bias and data
ethics.
- Private banks adopt AI faster than public sector banks.
- AI drives solutions for customer segmentation, robo-
advisory, and wealth management.
META REVIVES FACIAL RECOGNITION, BUT WITH STRICTER
CONTROLS.
- Meta revives facial recognition to prevent impersonation and recover
hacked accounts.
- Rollout is selective, with no third-party vetting and optional user opt-out.
- Meta prioritizes consent, data deletion, and compliance with Indian law.
THE COUNTRY'S LARGEST MAKER OF CEMENT, ULTRATECH
SAW PROFIT FOR JULY- SEPTEMBER DECLINED BY MORE
THAN 1/3.

UltraTech Cement's profit fell 36% year-on-year to 820 crore due tol intense
competition, despite a 4% increase in sales volume to 28 million tonnes.
Consolidated revenue declined 2% to 15,635 crore, with domestic grey
cement realizations down 8% year-on-year to 4,901 per tonne.
Company targets 200 MTPA capacity by FY27, expects 7-8% volume
growth..
22, OCTOBER,2024 TUESDAY

EDITORIALS , VIEWS
&FACTS
TIM COOK ON WHY
APPLE’S BETS WILL PAY OFF

-Tim Cook checks his iPhone every morning and uses various Apple
products daily.

-Apple focuses on making the best products rather than being first,
following the motto “Not first, but best.”

-They recently introduced the Vision Pro headset and Apple Intelligence,
an AI tool to enhance user experience.

-Cook believes these innovations will significantly improve how people


use Apple products.

-Apple has a history of turning perceived failures into major successes.

-The Vision Pro allows users to relive memories in a unique way.

-Cook thinks that with time, new products will improve and become more
accessible.
Lesson: Success is about patience, quality, and believing in your ideas,
even when faced with doubts.
22, OCTOBER,2024 TUESDAY

MINT MONEY

CTC VS TAKE-HOME PAY: NEW TAX REGIME


BENEFITS
-. Simplified Calculation: New tax regime offers fewer tax-saving
components, making take-home pay calculation easier.

-. CTC Breakdown: CTC comprises fixed pay, variable pay, and


deductibles (EPF, gratuity, NPS).

-.Take-Home Pay Formula_: Basic pay + special allowance -


TDS/contributions + tax-free allowances.

NEWS WRAP
NAVI FINSERV VIEWS RBI'S LOAN DISBURSEMENT
BAN AS A "TEMPORARY PAUSE".

-Navi Finserv's management has assured bond-holders that the company


has enough liquidity to handle any situation arising over the next six
months, despite the RBI's ban on disbursing fresh loans. The company
reported a spread of 14% on loans to customers, which was a key concern
raised by the RBI .
- Navi Finserv has ₹1,500 crore liquidity buffer and ₹1,450 crore
unencumbered cash.
- Company expects yearly profit, 30% capital adequacy, and manageable
debt repayment of ₹3,027 crore.
22, OCTOBER,2024 TUESDAY

MINT SHORTS
Coal exchange to be launched soon: Mines minister Reddy
- India's first coal exchange will be launched soon to provide a larger market
for coal.
- The exchange aims to establish a transparent benchmark price for the
commodity, according to coal minister G. Kishan Reddy.

PM MITRA, PLI schemes to attract ₹95,000 cr for textiles


- India's textiles sector is expected to attract ₹95,000 crore in investments
from the seven PM MITRA mega textile parks and the PLI scheme.
- Additional investments are anticipated through channels like foreign direct
investment, according to textiles secretary Rachna Shah.

Fastest Asian to swim the Molokai Channel*


19-year-old Anshuman Jhingran becomes the fastest Asian to swim across
the Molokai Channel in Hawaii.

He completed the swim in 14 hours, setting a new record.


22, OCTOBER,2024 TUESDAY

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