Advait Energy Transitions received letter of intent (LoI) from Gujarat Urja Vikas Nigam for setting up of a 50 MW out of 500 MW/1000 MWh standalone battery energy storage systems in Gujarat.
India's Foreign Secretary Vikram Misri met Afghan Acting Foreign Minister Mawlawi Amir Khan Muttaqi in Dubai, leading to India's commitment to further support Afghanistan's health sector and refugee rehabilitation, strengthen sports ties, and promote trade through Chabahar port, while addressing India's security concerns.
A sustainable move above the hurdle of 23,800 levels could confirm an upside bounce in the market. Immediate support is placed at 23,496 levels, said Nagaraj Shetti of HDFC Securities.
Nanocap companies-among the lowest in heap-are ranked 1,041 and below in terms of market capitalization. They come after the micro-cap companies with a market value ranking between 521 and 1,040. Small-cap companies are ranked between 261 and 520 by market capitalisation, while large- and mid-cap are ranked form the top 260 companies. Currently, TCC Concept with a market capitalisation of ₹2,137 crore is the 1,041st biggest company on the NSE.
Founded in 2019, AtoB sees major opportunity in modernising payments for the $1 trillion commercial fuel and transportation industry, particularly trucking. It partners not only truckers and small businesses but major banks as well as oil and gas companies, building a digital infrastructure to bring them together, cofounder and CEO Vignan Velivela said.
Swiggy introduced a new app called Snacc for delivering food in 10 minutes. It competes with delivery services from Zomato, Blinkit, and Zepto. Different companies use various models for quick food delivery, including dark stores and restaurant deliveries. The overall market for rapid food delivery is expanding with multiple players entering the space.
Community Notes was launched in 2021 as Birdwatch. It allows users to add context to posts that may be misleading, lack important details, or need more explanation. Content moderation, though designed with good intentions, has become increasingly complex, often resulting in mistakes that stifle free expression.
Zypp Electric is in advanced talks to raise $25-30 million from investors led by Nuvama Wealth. Tribe Capital is participating in the ongoing funding round. Zypp plans to increase its fleet to over 100,000 vehicles and expand operations to 15 cities next year. Its revenue rose to Rs 293 crore in FY24 although losses also increased.
Customer acquisition costs have risen for new-age stockbrokers due to higher prices for Google keywords. The surge in IPO interest has led to increased competition for terms like 'open demat account.' Digital marketing expenses have soared as brokers focus on app downloads and direct user acquisition, shifting away from affiliate marketing.
Infinity Fincorp, a Mumbai-based NBFC, has secured $15 million in funding from Jungle Ventures and Archerman Capital after RBI approvals in October 2024. With assets under management of Rs 1,100 crore, they aim to reach Rs 2,400 crore this financial year. They plan to expand to Rs 4,000 crore by 2027 and eventually go public.
Satya Nadella emphasised India's potential to create cost-efficient AI solutions, highlighting its math talent and the opportunity for frontier research on AI tailored for Indian languages and industries. Microsoft and India AI will collaborate to advance AI technologies, focusing on healthcare, education, accessibility, and agriculture, while promoting rural AI innovation.
IIT Madras-incubated startup, The ePlane Company, partners with Tata Consultancy Services (TCS) to develop scalable solutions for electric flying taxis focusing on battery life cycle modelling, demand estimation, and operational optimization. TCS will provide advanced analytics, IoT, and AI-driven solutions, leveraging ePlane's extensive battery data for accelerated battery life forecasting.
IBM plans to increase its technical leaders in India by up to 30% over the next three years. The company will also increase its workforce in India by similar numbers. The focus is on talent development and expansion in tier-2 cities. IBM aims for 25% hiring growth this year in cities like Bengaluru, Kochi, and Ahmedabad.
Four borrowers, Reliance Industries, Bajaj Finance, InterGlobe Aviation and REC registered to borrow $1.4 billion from the approval route with Reliance alone seeking to borrow $1 billion.
Brokerage said the company's growth will be supported by its rising mobile APRU, expanding home broadband subscriptions, and free cash flow.
The brokerage raised its price target on Dalmia to ₹2,110, implying an upside of 17% and on ACC to ₹2,580, implying gains of 28.5% over Wednesday's closing price.
The total number of demat accounts rose by 1.65% to 185 million in December from 182 million in November - the slowest growth in percentage terms since February 2024.
Nayara Energy, backed by Rosneft, plans to invest ₹68,000 crore to set up a 1.5 mtpa ethane cracker at its refinery in Vadinar, Gujarat. This major overseas investment aims to enhance India's petrochemical sector, which is projected to grow significantly. The company has initiated front-end engineering work for the project.
Indian artisanal gin, single malt and coffee liqueur brands aim to ramp up exports by entering new markets this year. They have seen significant growth and global acclaim, with companies like Jin Jiji, Indri, and Himmaleh Spirits expanding their presence. The focus is on regions with growth potential, including China, Scandinavia, and Africa.
As much as half of the mobile phone manufacturing capacity in India is unutilised or repurposed due to weak demand globally and domestically. Larger manufacturers are coping better, but smaller players are shifting to other products. Low demand for feature phones and entry-level smartphones is a major contributor.
Starbucks, Barista, Chaayos, and Third Wave Coffee are facing a slowdown in growth due to rising competition and reduced consumer spending. Yet, smaller chains like Tim Hortons and Blue Tokai are thriving. Increasing café density and high coffee prices are adding to the challenges. Tim Hortons and Blue Tokai plan to expand further in the coming years.
Mid-tier manufacturing or process-based companies including Himadri Speciality Chemical, Ramco Group, and Gharda Chemicals are increasingly turning to private credit funds for financing due to slowed bank credit and tepid growth in mutual funds. These funds offer quick access to capital for expansion and acquisitions despite stringent terms.
Gold and silver import figures for April-November FY25 were revised significantly, with gold imports adjusted downward by $5 billion to $9.84 billion for November. This reduced the trade deficit and eased pressure on the rupee. The corrected gold import total for the period is $37.38 billion, down from the earlier $49.08 billion estimate.