Category Archives: Business

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Business, Economy

Tesla’s India Entry Boosted by Government’s Updated EV Policy to Attract Global Automakers

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As the world’s most valuable electric vehicle (EV) company, Tesla, gears up for its highly anticipated entry into the Indian market, the Indian government is reportedly considering adjustments to its new EV policy. These modifications are expected to provide more attractive incentives and conditions for global automakers, including Tesla, in order to establish a foothold in India’s growing EV market.

This article explores the likely changes to India’s EV policy, how it could impact the Indian automobile market, and what Tesla’s entry into India means for the future of electric mobility in the country.

India’s Evolving EV Landscape

India, a country that has long struggled with air pollution and over-dependence on fossil fuels, has turned its focus to sustainable transportation. The government, recognizing the urgent need for cleaner alternatives, has made several efforts to accelerate the adoption of electric vehicles. The National Electric Mobility Mission Plan (NEMMP) and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) schemes were among the initial attempts to pave the way for EV adoption.

The EV market in India, while still in its infancy, is witnessing accelerated growth, with manufacturers and consumers slowly transitioning towards electric vehicles. The Indian government has identified electric vehicles as a key component of its strategy to reduce carbon emissions, improve air quality, and make the country less reliant on imported fossil fuels.

With rising global interest in electric vehicles and increasing investment in clean technologies, India has become a promising market for electric car manufacturers. The government’s push for a cleaner, greener future is especially timely as the country plans to make a significant leap into the electric mobility sector in the coming decade.

Tesla’s Entry Into India

Tesla, led by Elon Musk, has been eyeing the Indian market for years. Although Tesla has long been regarded as a leader in electric mobility, its formal entry into India has been delayed multiple times. However, recent developments indicate that the automaker is finally preparing to launch its electric cars in India.

Rather than setting up a manufacturing plant immediately, Tesla will likely begin by importing vehicles. The Berlin Gigafactory in Germany is expected to supply Model Y, the electric SUV, to the Indian market in right-hand drive configuration. This strategy will allow Tesla to tap into the Indian market and build brand awareness while gradually evaluating the viability of local manufacturing operations.

While Tesla’s expansion into India has been long-awaited, the company has already made significant strides in the country. Tesla opened an office in Pune, and it is actively scouting locations in key cities like Mumbai and Delhi to set up its first showrooms. The company is also hiring for several roles in these regions, including business analysts, service technicians, and customer engagement specialists.

Modifications to India’s EV Policy

In light of Tesla’s entry and other automakers’ interest, the Indian government is looking to revise its existing EV policy to ensure that it remains competitive and attractive to global manufacturers. Several sources indicate that the Centre may tweak the existing policy to encourage more investments in electric vehicle manufacturing and to bring in major players like Tesla.

One of the key changes in the revised policy is expected to be a turnover mandate of Rs 2,500 crore for automakers in their second year of operation in India. This is likely to be aimed at ensuring that companies like Tesla, which have a global presence and large-scale operations, meet certain financial and production benchmarks in the early stages.

Additionally, the government may offer further import duty relief, which could make it easier and more affordable for international companies like Tesla to import their vehicles into India before they begin local production.

The updated EV policy is likely to be announced in mid-March, with the application process expected to begin soon after. Approvals for EV manufacturers are anticipated to be finalized by August, allowing for a smooth transition to EV imports in India.

The Original EV Policy and Its Impact

The Indian government’s original EV policy, announced in March of the previous year, made significant strides in making India an attractive destination for electric vehicle manufacturing. The policy involved a reduction in customs duties, lowering them to 15% under certain conditions. It also outlined investment thresholds of Rs 4,150 crore for manufacturers looking to set up production facilities in India.

The policy laid out a clear roadmap for electric vehicle manufacturers, with specific targets for domestic value addition (DVA). The government set a goal of reaching 25% DVA within the first three years of operation, with a longer-term target of 50% within five years. These measures were designed to encourage local production and reduce the dependence on imports for critical EV components.

Tesla and other international manufacturers have viewed this policy favorably, as it provides the foundation for long-term EV manufacturing and investment in India. However, the revisions being considered now aim to fine-tune the policy to make it even more attractive to large companies, especially foreign automakers with extensive operations abroad.

Impact of Tesla’s Entry on the Indian EV Market

Tesla’s entry into India could have a profound effect on the Indian automotive landscape, particularly in the electric vehicle sector. The company’s presence is expected to accelerate the adoption of EVs, especially in the luxury car market, where Tesla’s vehicles, like the Model S and Model Y, will compete with other premium automakers.

Tesla’s reputation for high-performance electric vehicles could also lead to increased consumer interest in electric cars, particularly among the urban middle class and affluent consumers who are willing to invest in premium products.

Industry experts predict that the Indian EV market could achieve over 40% penetration by 2030, with a projected revenue of $100 billion. Tesla’s entry is seen as a key catalyst that could help the country reach these ambitious goals more quickly.

Additionally, Tesla’s expansion could spark further innovation and investment in EV infrastructure, including charging stations, battery technology, and smart grid solutions, benefiting not just Tesla but other players in the Indian EV ecosystem.

Challenges and Opportunities for Tesla in India

While Tesla’s entry into India is a milestone for the global electric vehicle industry, there are several challenges that the company must overcome. One of the most pressing issues is price sensitivity in India. The majority of Indian consumers are highly price-conscious, and Tesla’s premium pricing may limit its reach to a niche segment of the population.

In addition, India’s charging infrastructure is still in the early stages of development, and consumers may be hesitant to switch to electric vehicles without a reliable and accessible network of charging stations. Tesla will need to partner with local stakeholders and invest in the EV ecosystem to address these concerns.

Despite these challenges, Tesla’s brand appeal, cutting-edge technology, and focus on sustainability could position it as a leader in India’s emerging electric vehicle market.

The Future of Electric Vehicles in India

As the Indian government prepares to unveil an updated EV policy, Tesla’s entry into the market is set to play a pivotal role in shaping the future of electric mobility in India. With policy changes designed to attract global manufacturers, including Tesla, the country is poised for a sustainable transportation revolution.

The collaboration between government and industry will be crucial to achieving India’s EV goals, including environmental sustainability, economic growth, and technological innovation. While challenges remain, the long-term prospects for electric vehicles in India are promising, and Tesla’s entry is just the beginning of what could be a transformational shift for India’s automotive landscape.

As more companies follow Tesla’s lead and as the EV ecosystem evolves, India is on track to become a significant player in the global electric vehicle market, driving the shift towards clean energy and a greener future for all.

Business

Tata Power Partners with AWS to Accelerate India’s Smart Energy Transition

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India is poised for a significant shift in how it manages energy consumption, and Tata Power is at the forefront of this change. On Thursday, Tata Power announced a strategic partnership with Amazon Web Services (AWS) to spearhead the country’s transition to a smart, sustainable, and consumer-centric energy system. This collaboration is set to reshape how energy is produced, consumed, and managed across the nation, using advanced technologies to optimize both efficiency and sustainability.

The energy sector is undergoing rapid transformation, and Tata Power is embracing this change with a data-driven approach, leveraging cloud computing, artificial intelligence (AI), and Internet of Things (IoT) to deliver cutting-edge energy solutions. Through its partnership with AWS, Tata Power aims to modernize its digital infrastructure, streamline energy management systems, and accelerate India’s push toward a greener, smarter, and more resilient power ecosystem.

A Future-Ready Energy System

India’s rapidly expanding energy demand, coupled with the growing emphasis on sustainability, has prompted a call for more advanced and efficient energy management solutions. As smart grids, renewable energy sources, and decentralized generation become integral components of the national grid, real-time analytics, automation, and predictive technologies are increasingly vital. These technologies enable better energy distribution, reduce wastage, and ensure more reliable supply to consumers.

Through the strategic collaboration with AWS, Tata Power aims to modernize the nation’s energy system and push forward the smart energy transition. By integrating the best of cloud computing, AI, and IoT, the partnership envisions an ecosystem where energy management is seamless, automated, and responsive to real-time data. As such, this partnership marks a significant leap toward creating a consumer-centric energy system that empowers customers with more control over their energy usage while promoting sustainability.

Optimizing the Energy Supply Chain through Digitalization

Tata Power’s approach is one that prioritizes efficiency and resilience, ensuring that the energy supply chain—from generation to transmission and distribution (T&D)—can adapt to the increasing complexity and variability in energy demands. The company has long been a key player in India’s integrated power sector, with a presence across multiple segments, including generation, trading, renewables, and energy as a service (EaaS).

The partnership with AWS will significantly improve Tata Power’s digital capabilities, creating a more agile and future-proof energy infrastructure. By migrating 23 mission-critical applications to AWS using Amazon Elastic Kubernetes Service (EKS), Tata Power is strengthening its ability to respond to market demands, increase energy production, and optimize the flow of energy across the grid.

Building a Smarter, More Sustainable Future with AI and Cloud Computing

The core of Tata Power’s digital transformation is the combination of AI and cloud computing. With AWS’s robust cloud infrastructure, Tata Power can collect vast amounts of data generated by the grid and its various energy assets. This data can be analyzed in real time to predict demand fluctuations, identify inefficiencies, and automate decision-making. As a result, Tata Power will be able to improve grid stability, enhance predictive maintenance capabilities, and streamline energy transactions.

AI-powered analytics will also enable Tata Power to make more informed decisions about energy usage, anticipate potential issues before they arise, and offer more personalized and sustainable solutions to consumers. The integration of IoT devices into the system will further empower the company to monitor performance metrics, detect anomalies, and respond to changing conditions on the fly.

In a statement, Tata Power emphasized that this transition to a more digitally-enabled ecosystem is key to meeting the increasing demand for renewable energy and enhancing the reliability of power supply. By aligning its objectives with AWS’s cloud services, Tata Power is positioning itself as a leader in the future of green energy, capable of delivering clean, efficient, and reliable energy solutions at scale.

A Commitment to Sustainability and Green Energy

Tata Power has always been committed to promoting sustainability. The company has been a pioneer in integrating renewable energy sources into India’s power grid, and the partnership with AWS will accelerate its goals in this area. By digitizing its infrastructure, Tata Power will be able to optimize renewable energy production, reduce carbon emissions, and help India achieve its climate goals.

The use of cloud-based technologies is expected to enhance Tata Power’s ability to manage solar, wind, and hydroelectric power, integrating these renewable sources into the larger grid without sacrificing efficiency or reliability. The collaboration aims to ensure that Tata Power continues to lead the way in delivering sustainable energy solutions that align with both national energy policies and global environmental standards.

The Role of Tata Power in India’s Growing Energy Market

Founded in 1996, Tata Power has grown to become one of the largest integrated power companies in India. With a diversified portfolio that spans across power generation, transmission, distribution, and renewable energy, the company is well-positioned to benefit from the growing demand for more efficient and greener energy solutions in India.

As India continues to modernize its energy systems, Tata Power remains at the forefront of this change. By partnering with AWS, the company not only embraces technological innovation but also aligns itself with global best practices in energy management and sustainability. This partnership is expected to drive significant improvements in operational efficiency, cost-effectiveness, and grid reliability, helping the company meet the evolving energy needs of India’s consumers.

A Digital-First Approach to Energy Management

One of the primary focuses of this partnership is the adoption of cloud computing and digital solutions across all aspects of Tata Power’s operations. From grid management to customer service, Tata Power will harness the power of AWS to create a data-driven ecosystem that brings smarter, more efficient energy solutions to consumers.

AWS’s infrastructure will allow Tata Power to enhance its customer engagement, provide more tailored energy solutions, and ensure that customers can access their energy data and make informed choices about consumption. Furthermore, cloud-based solutions will enable Tata Power to reduce costs and improve response times in the event of system failures, offering consumers more consistent and reliable service.

Tata Power’s partnership with Amazon Web Services marks a pivotal moment in India’s transition to a smart and sustainable energy ecosystem. By combining cloud technology, AI, and IoT, Tata Power is taking significant steps to modernize the country’s energy infrastructure and offer more consumer-centric solutions. With AWS’s cutting-edge capabilities, Tata Power is well-positioned to continue leading India’s energy transformation, ensuring that the country’s growing demand for energy is met in a smart, efficient, and sustainable manner.

This collaboration not only demonstrates Tata Power’s commitment to innovation and sustainability but also highlights the critical role that digital technologies will play in the future of India’s energy landscape. As the country continues to embrace cleaner, more efficient energy solutions, partnerships like this one will be crucial to driving progress and securing a greener future for all. With Tata Power’s vision for a digital-first energy ecosystem, India’s energy sector is poised for a new era of smart energy.

Business

NSDL’s Profit Soars with 29.82% Increase, Set to Launch IPO

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The National Securities Depository Limited (NSDL), one of India’s leading financial market institutions, has made a notable leap in its financial performance in recent months. For the period between September and December 2024, the company has reported an impressive 29.82% surge in consolidated net profit, when compared to the same period in the previous year. This robust growth demonstrates the continued strength and resilience of NSDL’s operations in a rapidly evolving financial landscape.

NSDL’s Performance: A Snapshot of Q3 FY25

In the third quarter of FY25, NSDL recorded a substantial increase in total income, rising by 16.2% to ₹391.21 crore. This upward trajectory in both profit and income is a clear reflection of the company’s effective strategies, solid business model, and its strong foothold in the Indian financial market.

The company’s consistent growth is notable, especially given the increasing competition in the Indian financial services industry. As a trusted depository, NSDL’s strong financial performance signals its expanding influence and capacity to manage the nation’s growing financial assets. This sharp growth comes as part of the company’s ongoing efforts to further solidify its position in the market.

Founded in 1996, NSDL has consistently been a key player in India’s financial infrastructure, playing a crucial role in simplifying the process of securities settlement and helping to enhance transparency in the country’s securities market. Over the years, NSDL has earned the trust of investors, institutions, and other market participants, further solidifying its reputation as the country’s leading securities depository.

A significant milestone for NSDL was achieved in September 2024, when it became the first securities depository in India to touch ₹500 lakh crore in assets under custody. This landmark achievement signifies not only the company’s success in managing such a vast amount of assets but also demonstrates the growing faith investors place in its services. As of now, NSDL holds a dominant position in the market, overseeing an increasing number of securities.

What Led to the Surge in Profits?

Several factors have contributed to NSDL’s impressive profit surge.

  1. Growing Demand for Financial Services: As the Indian financial markets have matured, the demand for secure and efficient depository services has surged. NSDL’s leadership in providing such services positions it to benefit from this growing market.
  2. Expanded Asset Base: The ₹500 lakh crore in assets under custody not only reflects the trust placed in NSDL by investors but also indicates the scale of the company’s operations. This growing asset base provides a solid foundation for future growth.
  3. Digitalization and Innovation: With the increasing shift toward digital financial services, NSDL has embraced technological advancements, improving its operational efficiency and providing modern solutions for investors. The adoption of blockchain and automated services has led to increased confidence from investors, further contributing to its financial success.
  4. Cost Efficiency: By optimizing its internal operations and reducing operational costs, NSDL has been able to maximize profits, even as it continued to expand its services to more institutions and retail investors.
  5. Market Growth and Regulatory Support: The overall growth in the Indian financial markets, coupled with favorable regulations, has fostered a conducive environment for NSDL’s expansion. The company has strategically leveraged this environment to enhance its offerings and increase market share.

The Road to NSDL’s IPO

The recent surge in profits and growth milestones indicate that NSDL is on the brink of an exciting new phase in its journey. The company has announced that it is preparing to launch its Initial Public Offering (IPO).

This IPO is seen as an essential step for NSDL as it moves forward with its plans for expansion and market diversification. The launch of the IPO will not only open up the company to a broader pool of investors but will also provide an opportunity for NSDL to raise capital for future projects, technology investments, and expansion efforts.

By going public, NSDL also aims to raise its profile, enhance its credibility, and solidify its standing in the highly competitive financial services space. The IPO will allow institutional and retail investors to become shareholders, participating in the company’s growth story while potentially offering solid returns on their investments.

Furthermore, the company is expected to use the funds raised through the IPO to continue modernizing its technological infrastructure, ensuring it remains a leader in the rapidly changing financial services sector.

NSDL’s Impact on the Indian Financial Ecosystem

NSDL’s role in the Indian financial ecosystem goes beyond just being a securities depository. The company plays a vital part in securing and managing financial assets, ensuring a smooth transaction process between investors and the companies issuing securities. Its services provide the backbone for the growing Indian securities market, which has seen significant growth in recent years.

NSDL has made it easier for investors to hold and transfer securities, providing them with greater transparency and security. It also acts as a clearinghouse for the market, enabling quick settlement of trades and ensuring the smooth operation of the financial ecosystem.

Additionally, NSDL has expanded its offerings to cater to the demands of the modern investor, including digital services, making it more convenient for people to participate in the securities market. Its efforts have contributed to the financial inclusion of a broader spectrum of the population, enabling access to a wider range of investment options.

Looking Ahead: The Future of NSDL and India’s Financial Market

The future looks promising for NSDL as it continues to grow and diversify its services. The company’s ongoing efforts to expand its asset base, improve services, and adapt to digital trends will ensure its continued dominance in India’s securities depository space.

As the Indian financial market continues to mature, NSDL is likely to be at the forefront of this development, further cementing its reputation as a key player in the global financial ecosystem. Its upcoming IPO launch will serve as a significant milestone in its journey, offering new growth opportunities and providing investors with a chance to participate in the company’s success.

With the backdrop of a strong and growing Indian economy, NSDL’s future seems poised for even more growth, marked by technological innovations, strategic partnerships, and the development of new services for the Indian and global financial markets. NSDL’s recent profit surge and growth in assets under custody reflect its strength and potential in a rapidly evolving financial landscape. The company’s strategic vision, enhanced by digital innovation and cost-efficiency, has positioned it as a leader in India’s financial sector. As NSDL prepares to launch its IPO, the company is set to continue its journey of expansion, offering a range of opportunities for investors and further shaping India’s financial market. Moving forward, NSDL’s role in fostering financial security, efficiency, and transparency will be crucial to the continued evolution of India’s growing economy.

Business, Artificial Intelligence

Zomato Unveils Nugget: AI-Powered Customer Support Revolution

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Food delivery giant Zomato has announced the launch of Nugget, an in-house artificial intelligence (AI)-enabled customer support platform designed to enhance efficiency across its food delivery services, quick commerce vertical Blinkit, and supply-chain services platform Hyperpure.

Zomato CEO Deepinder Goyal introduced Nugget in a post on X (formerly Twitter), emphasizing the platform’s ability to streamline customer support, reduce operational costs, and eliminate the need for a dedicated development team.

Zomato’s AI Leap with Nugget

Goyal described Nugget as a no-code, AI-native customer support platform that is highly customizable and cost-effective. The AI-powered system is expected to resolve nearly 80% of customer queries autonomously while learning and adapting in real-time.

“Nugget helps businesses scale support effortlessly—highly customizable, low-cost, no dev team needed. No rigid workflows, just seamless automation,” Goyal posted on X.

Key Features of Nugget

  1. AI-Driven Query Resolution: Capable of handling 80% of customer queries without human intervention.
  2. Real-Time Adaptation: Continuously improves its responses based on evolving customer interactions.
  3. No-Code Functionality: Businesses can integrate Nugget effortlessly without any coding expertise.
  4. Instant Chat & Voice Support: Offers real-time assistance to enhance user experience.

Developed over three years by Zomato Labs, Nugget currently supports over 15 million interactions per month across Zomato, Blinkit, and Hyperpure. Following its successful internal deployment, Zomato has decided to extend Nugget’s capabilities to external businesses worldwide.

“Built over 3 years as an internal tool, Nugget now powers 15M+ support interactions per month. We’re now opening it up to businesses worldwide—90% of companies who’ve seen Nugget have signed up,” Zomato revealed in its statement.

Zomato Rebrands to Eternal

The launch of Nugget coincides with Zomato’s rebranding to Eternal Ltd, a strategic move aimed at aligning with its expanding business verticals. With Blinkit emerging as a key growth driver alongside Zomato’s core food delivery business, the company decided to revamp its corporate identity. In a regulatory filing on February 6, 2025, Zomato informed stock exchanges about its transition to Eternal Ltd.

“Our board has approved this change today and I request our shareholders to also support this change. If and when it is approved, our corporate website will transition from zomato.com to eternal.com. We will also change our stock ticker,” said Deepinder Goyal in a letter to shareholders.

Zomato’s Q3 Performance: Revenue Up, Profits Down

Despite the strategic shifts, Zomato’s financial performance in Q3FY25 reflected mixed results. The company reported a 57.3% decline in net profit, amounting to ₹59 crore, compared to ₹138 crore in the same period last year. However, revenue from operations surged by 64.4% to ₹5,405 crore, compared to ₹3,288 crore in Q3FY24. This sharp increase in revenue is largely attributed to the robust growth of Blinkit and the expansion of Hyperpure, as Zomato continues to strengthen its presence in the quick commerce and B2B supply chain segments.

With Nugget’s AI-driven capabilities, Zomato (soon to be Eternal Ltd.) is well-positioned to streamline its customer service operations and enhance user experiences. As the company pivots towards expanding its global footprint, the introduction of Nugget as an external SaaS solution marks a pivotal step in Zomato’s long-term strategy. While the Q3 profit decline raises some concerns, the steady rise in revenue indicates a positive trajectory. As the rebranding to Eternal Ltd. takes effect, industry experts believe that the company’s diversification into AI-powered solutions will strengthen its competitive advantage in the evolving digital commerce landscape.

Business

Foxconn Open to Buying a Stake in Nissan: A Game-Changing Auto Industry Move?

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Taiwanese tech giant Foxconn has expressed interest in taking a stake in Nissan, signaling a potential new partnership in the evolving auto industry. Nissan, currently at a critical juncture, has been struggling to secure its future after merger talks with Honda stalled. Could Foxconn’s entry into the equation be the solution Nissan needs?

Foxconn’s Statement on Nissan Stake

In a press conference, Foxconn’s chairman Young Liu stated that the company is open to acquiring shares in Nissan if required for collaboration. However, he emphasized that the primary objective is strategic cooperation, not ownership. Nissan has faced financial difficulties and internal restructuring, making it crucial to find a long-term strategy to remain competitive. The automaker’s recently failed merger talks with Honda have added another layer of uncertainty. Nissan and Honda had been in discussions to merge, which would have created the world’s fourth-largest automaker. However, differences between the companies led to the collapse of negotiations, leaving Nissan without a solid recovery plan. While Foxconn is best known as the world’s largest contract electronics manufacturer, it has been making serious moves into the EV sector. The company has collaborated with various automakers and has developed its own EV platform to offer manufacturing solutions.

Renault’s Position in the Deal

Renault, which owns 36% of Nissan, is closely monitoring these developments. Any major partnership with Foxconn would also impact Renault’s investment and future strategies within the alliance.

The Growing Threat from Chinese EV Manufacturers

The auto industry is experiencing rapid disruption from Chinese EV brands, which are aggressively expanding into global markets. Nissan, like many legacy automakers, must adapt or risk being left behind.

Foxconn’s Business Strategy in the Auto Industry

Foxconn has clarified that it has no intention of becoming an automaker itself. Instead, its focus is on providing design and manufacturing services for existing brands, helping them streamline production and reduce costs. If a Foxconn-Nissan partnership comes to fruition, it could set a precedent for similar tech-automaker collaborations. This would likely accelerate the transition toward EVs and smarter vehicles.

Market Reactions and Investor Sentiment

News of Foxconn’s potential involvement has already stirred discussions among investors. Market analysts are evaluating how Nissan’s stock and Foxconn’s diversification efforts could impact their future valuations. Experts have mixed opinions on the potential collaboration. While some see it as a lifeline for Nissan, others question whether Foxconn’s manufacturing expertise alone can turn things around.

Future of Nissan: What Lies Ahead?

With Honda out of the picture, Nissan is left exploring new options. Partnering with Foxconn could help Nissan in its EV transition, but much depends on the details of the agreement. Foxconn’s interest in Nissan is part of a larger trend of tech firms like Apple, Google, and Xiaomi moving into the automotive space, redefining what it means to be a car manufacturer in the modern era.

Conclusion

Nissan is at a critical crossroads. While Foxconn’s potential investment and cooperation offer a promising opportunity, much remains uncertain. The coming months will determine whether Nissan can successfully leverage this partnership to stay competitive in the global auto market.

FAQs

1. Why is Foxconn interested in Nissan?
Foxconn aims to expand its presence in the EV sector by collaborating with Nissan, a major player in the automotive industry.

2. What happened to the Nissan-Honda merger talks?
The talks collapsed due to growing differences between the companies, preventing them from finalizing a deal.

3. How will this impact Nissan’s future?
A potential Foxconn-Nissan collaboration could provide technological and financial support, helping Nissan compete in the evolving auto industry.

4. Is Foxconn planning to create its own car brand?
No, Foxconn’s focus is on designing and manufacturing vehicles for other brands rather than launching its own brand.

5. How does this affect the global EV market?
It accelerates the tech-automotive convergence, making the industry more dynamic and competitive.

Business, Economy

Indian Stock Market Opens Higher, Nifty Above 23,120

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Indian Markets Show Strength Amid Global Uncertainty

The Indian stock market opened on a positive note on Thursday, bolstered by buying in the PSU bank and financial services sectors. The broader market movement followed a mixed set of global cues, reflecting cautious optimism among investors.

Strong Opening for Sensex and Nifty

As of 9:45 AM, the BSE Sensex was trading 244.25 points higher, or 0.32%, at 76,415.33, while the NSE Nifty 50 climbed 79.25 points, or 0.34%, to reach 23,124.50. A total of 1,528 stocks on the National Stock Exchange (NSE) were in green, indicating positive sentiment, while 781 stocks were in red, suggesting some caution among traders.

The Nifty Bank index recorded an 85.65-point increase, translating to 0.17% growth, settling at 49,565.10. The Nifty Midcap 100 index inched up 35.55 points, or 0.07%, standing at 50,791.95. However, small-cap stocks witnessed a slight dip, as the Nifty Smallcap 100 index fell 37.75 points, or 0.24%, to 15,995.25.

Top Gainers and Losers in Early Trade

Within the Sensex pack, some of the biggest gainers included Zomato, Kotak Mahindra Bank, Sun Pharma, Adani Ports, Bajaj Finserv, M&M, Bajaj Finance, ITC, Infosys, Tata Steel, SBI, and ICICI Bank. These companies saw strong buying interest, supporting the index’s positive trajectory.

On the other hand, Titan, Tech Mahindra, Hindustan Unilever, IndusInd Bank, and NTPC emerged as the top losers, witnessing profit-booking amid the broader market uptrend.

Global Market Trends Impacting Indian Equities

Global market movements provided a mixed backdrop for the Indian stock market:

  • U.S. Markets: The Dow Jones declined 0.50%, closing at 44,368.56. Meanwhile, the S&P 500 slipped 0.27% to 6,051.97, and the Nasdaq ended flat, up only 0.03% at 19,649.95.
  • Asian Markets: Jakarta and China witnessed negative momentum, while Seoul, Bangkok, Japan, and Hong Kong traded in green, indicating a divergence in investor sentiment across the region.

Institutional Activity: FIIs Sell, DIIs Buy

Foreign Institutional Investors (FIIs) continued their selling spree on February 12, offloading equities worth Rs 4,969.30 crore. However, Domestic Institutional Investors (DIIs) acted as a stabilizing force, buying Rs 5,929.24 crore worth of stocks, thereby balancing the overall market sentiment.

Technical Analysis and Market Outlook

The previous session on Wednesday witnessed high volatility, with the Nifty rebounding strongly from an intraday low of 22,798. Despite initial weakness, the market managed to recover, ensuring a subdued but positive close.

Key Support and Resistance Levels

  • Support Zone: 22,900-22,800
  • Intermediate Resistance: 23,250-23,350
  • Major Resistance: 23,400-23,500

Market expert Sameet Chavan, Head of Research (Technical and Derivative) at Angel One, noted that a further correction below 22,800 could disrupt the short-term technical structure. On the upside, if the Nifty surpasses 23,250-23,350, it could pave the way for further gains toward 23,400-23,500.

Similarly, Aakash Shah of Choice Broking advised traders to remain cautious and to wait for confirmation of price action before making fresh trading decisions.

Conclusion: Market Poised for Further Gains, but Caution Needed

The Indian stock market continues to showcase resilience, supported by institutional buying and strength in key sectors. However, global cues, foreign investor activity, and technical resistance levels will play a crucial role in determining market direction in the coming days. Traders and investors should exercise caution while navigating the current landscape, as volatility remains a persistent factor.

Business, Finance

Hindalco Q3 Results: Profit Set to Surge by 62% Amid Strong India Performance

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Hindalco’s Profit Expected to Soar 62% Amid Strong Market Performance

The third quarter earnings season is in full swing, with around 460 companies set to release their Q3 financial results on Thursday. Among them, Hindalco and SJVN stand out as key companies to watch. Investors and analysts alike are eagerly anticipating their numbers, which could provide insights into the broader market trends.

Apart from Hindalco and SJVN, several other companies, including Aayush Wellness, ABC India, Abhishek Infraventures, Accel, Apex Capital, ACI Infocom, Acrow India, Addi Industries, BN Holdings, DCW Ltd, Infronics Systems, and KNR Constructions, are also set to declare their quarterly earnings.

Hindalco Q3 Expectations: Strong Growth Despite Challenges

Hindalco is expected to report robust growth in both profitability and revenue for the October-December 2024 quarter, driven by a strong India performance. However, the company’s overseas operations, particularly Novelis, have faced some challenges that might impact overall performance.

Revenue and Profit Forecast

According to analysts, Hindalco’s profit for Q3FY25 is projected to surge 62% year-on-year (YoY). Revenue is also expected to rise 11% YoY, primarily due to higher aluminium and alumina prices. The company has benefited from an increase in demand and favorable pricing trends in the metals market.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is likely to improve by 28% YoY, mainly due to:

  • Higher metal prices
  • Lower power costs in India
  • Increased efficiency in domestic operations

However, on a quarter-on-quarter (QoQ) basis, Hindalco might experience a decline in EBITDA and margins due to lower scrap spreads affecting Novelis’ performance.

Segment-wise Performance

Aluminium and Utkal Alumina Division

  • EBITDA for aluminium, including Utkal Alumina, is projected to increase by 24% QoQ to ₹4,790 crore.
  • Growth is driven by higher aluminium and alumina prices and slightly improved production volumes.

Copper Business

  • Copper EBITDA is expected to fall to ₹650 crore, reflecting some pressure in the segment.

Novelis Performance

  • Novelis’ adjusted EBITDA per ton is projected to drop 16% QoQ to ₹410.
  • This decline is attributed to lower scrap spreads and tight scrap availability.
  • Novelis had also faced operational disruptions due to flooding at its Switzerland plant, but operations have now resumed.

Brokerage and Analyst Insights

Kotak Equities estimates Hindalco’s India EBITDA (including Utkal) at ₹5,070 crore, with:

  • Aluminium EBITDA (including Utkal) at ₹4,310 crore, primarily due to higher prices.
  • Copper EBITDA at ₹760 crore, benefiting from resilient TcRcs and high sequential base.
  • Novelis EBITDA at $391 million, factoring in higher scrap costs and reduced margins.

Broader Market Implications

Hindalco’s strong performance is expected to boost investor sentiment, particularly in the metals and mining sector. With aluminium prices remaining elevated, the company is well-positioned for sustained growth.

Meanwhile, the overall earnings trend from the 460 companies reporting today will provide a clearer picture of India’s economic landscape, particularly in key industries such as construction, manufacturing, and finance.

Conclusion

As Hindalco and 460 other companies announce their Q3 results, investors will closely watch how rising commodity prices, operational efficiencies, and market conditions have influenced corporate performance. Hindalco’s strong domestic growth offsets some of the challenges at Novelis, setting the stage for continued profitability. The results from these companies will be key indicators for market trends in 2025.

Business, Economy

Shriram Finance Bets Big on Green Energy—Targets ₹5,000 Crore Portfolio!

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Shriram Finance, one of India’s leading non-banking financial companies (NBFCs), is set to embark on an ambitious expansion of its green finance portfolio, aiming for a 20-fold increase over the next three years. This strategic move comes as the company seeks to diversify its loan book and leverage the growing demand for sustainable financing solutions.

Shriram Finance’s Green Ambitions

In a recent interview, Executive Vice Chairman Umesh Revankar revealed the company’s plans to add solar panels and other renewable energy sectors to its financing portfolio. This expansion is expected to significantly boost the company’s green finance book, which currently stands at approximately Rs 250-300 crore. The ultimate goal is to escalate this figure to Rs 5,000 crore (about $576 million) in the coming years.

This substantial increase will be driven by small-ticket loans primarily focusing on two-wheeler and three-wheeler electric vehicles (EVs). With the rapid evolution of the electric mobility sector in India, Shriram Finance sees enormous potential in financing electric vehicles, battery technologies, and other sustainable projects. Green finance is crucial for India’s transition to a low-carbon economy, but its adoption has been relatively slow. Some of the key barriers include limited awareness, high transaction costs, and restricted access to affordable green technologies. However, government initiatives such as tax incentives and subsidies for renewable energy projects are making sustainable investments more attractive for financial institutions. With rising fuel prices and stringent emission regulations, the demand for electric vehicles (EVs) and green energy solutions is growing exponentially. Shriram Finance aims to capitalize on this trend by offering affordable loans to individuals and businesses investing in clean energy and sustainable transportation.

Shriram Finance’s Broader Growth Strategy

Apart from its green finance ambitions, Shriram Finance has set an aggressive target to double its overall loan book and assets under management (AUM) by 2030. As of December 2023, the company’s total loans stood at Rs 2.51 trillion, while its AUM was Rs 2.54 trillion.

To achieve this rapid growth, the company is focusing on key lending segments, including medium and small enterprises (MSMEs), vehicle loans, and tractor financing. According to Revankar, Shriram Finance aims to increase its AUM by 15% annually over the next two financial years, driven by strong demand for commercial and passenger vehicle loans.

Key Highlights of the Growth Plan:

  • Targeting 20% annual growth in small business lending
  • Increasing financing for electric vehicles (EVs) and battery technologies
  • Expanding loan offerings for solar energy and green infrastructure
  • Tapping into MSME lending opportunities

Shriram Finance has been actively expanding its MSME lending segment, recognizing the vital role small businesses play in India’s economic growth. Currently, small business loans account for approximately 14% of the company’s AUM. By implementing customized lending solutions, the company aims to better understand small business repayment capabilities and improve collection efficiency. With India’s growing entrepreneurial ecosystem, the demand for flexible and accessible credit solutions is on the rise. Shriram Finance’s focus on small enterprises, transport businesses, and rural entrepreneurs will be a key driver of its sustained financial growth. To support its ambitious expansion, Shriram Finance is considering raising at least $750 million through dollar bonds in the next fiscal year. This move will depend on global market conditions and investor sentiment.

Tapping into international debt markets could provide the company with additional resources to fund its green financing initiatives and overall growth strategy. By diversifying its funding sources, Shriram Finance aims to maintain financial stability while expanding its loan book. Shriram Finance’s aggressive push into green finance marks a significant step towards sustainable economic growth in India. By scaling its green loan portfolio to Rs 5,000 crore, expanding MSME financing, and tapping global markets for funding, the company is positioning itself as a leader in India’s NBFC sector. As the demand for electric vehicles, renewable energy, and small business financing continues to rise, Shriram Finance’s strategic expansion could redefine the financial landscape. With a strong commitment to sustainability and financial inclusion, the company is on track to achieve its ambitious targets over the next decade.

Business, Internet

Swiggy Instamart Glitch Hands Out Massive Discounts, Users Cash In Before Fix

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A technical glitch on the Swiggy Instamart app recently led to an unexpected windfall for some users, with discount coupons worth up to Rs 5,00,000 being erroneously credited to their accounts. The incident, which was first highlighted by a Reddit user, quickly went viral as users shared screenshots of orders placed for a fraction of their original prices.

The Unexpected Jackpot

A post on Reddit titled, “Someone is definitely losing their job at Swiggy,” detailed how Swiggy Instamart users began seeing a banner on the app stating: “Enjoy up to Rs 5,00,000 in free cash. Applied on your next order above Rs 199.”

Users reported receiving discount credits ranging between Rs 4,000 and Rs 5,00,000, allowing them to place orders for groceries and essentials at negligible costs. Some users jumped at the opportunity, ordering items that were successfully delivered before Swiggy managed to intervene.

Screenshots shared online depicted a variety of transactions benefiting from the glitch. One user showcased an order worth Rs 4,081, which was reduced to just Rs 81 after applying the unexpected discount. Another user reportedly placed an order totaling Rs 56,347, which was successfully brought down to just Rs 1.

Swiggy’s Response and Damage Control

As the glitch gained traction, Swiggy reportedly began reaching out to affected users, requesting them to return the purchased items that were acquired during the unintended offer. This move sparked mixed reactions online, with some users sympathizing with the company while others argued that they were merely using the discounts presented to them.

The incident sparked widespread speculation. While some users believed it was a genuine technical error, others suggested that it might have been an elaborate marketing stunt designed to generate buzz around Swiggy Instamart.

A user commented, “This could be a marketing stunt.” Another responded, “Ok Swiggy PR Team, we get it, now stop posting everywhere.” Meanwhile, some users lamented missing out on the glitch, with one saying, “This offer would’ve been nice had I heard about it.”

One Reddit user humorously remarked, “It was showing some 4 lakh for me too. I thought it was some random loan scheme.”

Swiggy Instamart’s History of Odd Incidents

This isn’t the first time Swiggy Instamart has made headlines over an unusual incident. Earlier this year, a user raised concerns about receiving free tomatoes in their cart that couldn’t be removed.

The user accused Swiggy of “basket sneaking,” arguing that customers should have complete control over their shopping carts, even when it comes to free items. This led to an online debate about whether brands should have the ability to automatically add items to a customer’s cart without explicit consent.

Swiggy has not yet made an official statement regarding the discount glitch, but the incident highlights the importance of robust system checks in e-commerce platforms. While some customers benefited, the company could have faced significant financial losses if the issue had persisted for longer.

For now, users are waiting to see whether Swiggy will take further action against those who capitalized on the error or if it will chalk it up as a costly mistake and move forward. Meanwhile, the incident serves as a reminder of how quickly digital mishaps can escalate in an era where social media amplifies every occurrence in real-time.

Business, Artificial Intelligence

OpenAI CEO Sam Altman Plans AI-Powered Device to Replace iPhones and Android Phones

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OpenAI CEO Sam Altman is taking a bold step towards transforming how people interact with technology. In an ambitious collaboration with former Apple design chief Jony Ive, Altman is working on an AI-powered device designed to replace traditional smartphones. This groundbreaking project aims to eliminate the need for touchscreens and traditional interfaces, shifting towards a more intuitive, AI-driven approach.

In a recent interview with Nikkei Asia, Altman discussed how the upcoming device leverages generative AI to create a smarter, more efficient way for users to interact with technology. If successful, this project could outperform existing smartphone software and redefine digital communication as we know it.

The Concept: An AI-First Approach

Altman’s vision is rooted in the belief that smartphones, as they exist today, are outdated and inefficient. His solution? A device that relies primarily on voice commands, gesture recognition, and other intuitive interfaces, eliminating the need for conventional touchscreens or typing. This shift is expected to make interactions with digital devices more seamless, natural, and user-friendly.

Jony Ive’s Design Expertise Joins the Project

To bring this ambitious vision to life, Jony Ive, the renowned designer behind the iPhone, is lending his expertise to the project. Ive’s involvement ensures that the device will not only be technologically advanced but also beautifully designed and ergonomically optimized for user comfort. His work at Apple has solidified his reputation as one of the most influential designers in the tech industry, making his role in this project a significant development.

Funding and Support for the AI Device

While technical details remain undisclosed, Altman has hinted that the project has been in development for over a year and is backed by significant funding. OpenAI’s resources, combined with Ive’s design expertise, position this initiative as a potential game-changer in the world of AI-powered hardware.

How AI Could Replace Smartphones

The shift from traditional smartphones to AI-driven hardware could mark a major turning point in consumer technology. Some key aspects of this futuristic device include:

  • Voice-First Interaction: Users would no longer need screens; AI would process commands via speech recognition.
  • Personalized AI Assistant: The device could function as an intelligent virtual assistant, learning user preferences and adapting accordingly.
  • Minimalist Design: Without the need for screens and keyboards, the gadget could feature a sleek, lightweight design.
  • Context-Aware Responses: AI-driven systems could predict user needs and respond proactively.

Challenges and Potential Roadblocks

While Altman’s vision is revolutionary, several challenges could arise:

  1. User Adaptation: Will people be ready to give up screens and rely entirely on voice-based interactions?
  2. AI Privacy Concerns: How will OpenAI address data privacy and user security in an always-listening device?
  3. Software and Ecosystem Compatibility: Can this device integrate seamlessly with existing apps and services?
  4. Hardware Manufacturing: Designing and producing a mass-market AI device requires significant resources and expertise.

A Long Road Ahead: What’s Next?

Despite the excitement surrounding this project, Altman has made it clear that a prototype may take several years to develop. In the meantime, OpenAI continues to advance AI research, recently launching a new AI agent known as Deep Research. This tool is designed to help users conduct complex, in-depth research across finance, science, policy, and engineering using the power of ChatGPT.

Sam Altman’s vision for an AI-powered alternative to smartphones is undeniably ambitious. If successful, this project could change the way humans interact with technology, eliminating the need for screens and transforming digital communication. With Jony Ive’s design expertise, strong funding, and OpenAI’s cutting-edge AI advancements, the future looks promising. However, significant technical and adoption challenges remain, and only time will tell whether this innovation will reshape the mobile industry or remain an experimental concept.