The application of AI is not limited to just customer-facing chatbots and it is also being used for behind-the-scenes applications in areas such as personalised recommendations, marketing, summarization and content generation. In a global perspective, however, Indian startups have not been pioneers, unlike, say, Swedish unicorn Klarna, which used the technology to replace 700 human agents, said Rohit Pandharkar, AI partner, EY.
Indian Oil Corp reported an 81% drop in standalone net profit to Rs 2,643 crore in Q1, down from Rs 13,750 crore a year ago. Revenue fell 2% YoY to Rs 2.15 lakh crore. EBITDA was Rs 8,636 crore with margins at 4.5%. Total expenses increased to Rs 2.13 lakh crore from Rs 2.03 lakh crore.
A bench of Justice Bela M Trivedi and Justice S C Sharma said it was not inclined to interfere with the high court order. "Let it be investigated. It is a matter of investigation. There are 73 cases filed against you," the bench said.
Samsung sees significant growth prospects in India, as highlighted by CEO Jong-Hee Han during his visit to the Noida factory. He commended the tech-savvy youth and local R&D teams for driving innovation. Samsung manufactures smartphones, tablets, and refrigerators in its Noida and Tamil Nadu plants for both domestic and global markets.
Maruti Suzuki reported steady revenue growth for Q1 June 2024, marking a 7% year-on-year increase, with strong volume growth in utility vehicles. The company saw a significant 30% rise in net profit. Enhanced EBITDA margins were supported by reduced raw material costs and an improved product mix, despite flat average selling prices.
The move, said Congress general secretary Jairam Ramesh, was "a post-dated cheque on a crashing bank". In a post on X, he also shared a media report claiming that financial packages for Andhra Pradesh and Bihar are likely to cost the Centre Rs 20,000-30,000 crore.
On Tuesday, Agriculture Minister Shivraj Singh Chouhan criticized the previous UPA government for not implementing the M.S. Swaminathan Commission's recommendation to provide farmers with a 50% profit on their production costs for minimum support prices (MSP).
The BCCI requested a one-day adjournment at the NCLAT due to ongoing settlement discussions with Byju's regarding insolvency proceedings. The case involves a Rs 158.9 crore default by Think & Learn Pvt Ltd. Byju's founder challenged the NCLT's order initiating insolvency proceedings and has also sought intervention from the Karnataka High Court.
The Taj Mahal is often embroiled in controversy, with certain groups claiming it to be a Shiva temple. The Archaeological Survey of India (ASI) refuted this claim in 2017, asserting that the monument is a tomb, not a temple.
The Supreme Court will hear a plea by the Uddhav Thackeray faction challenging the Maharashtra Assembly Speaker's decision favoring Chief Minister Eknath Shinde's Shiv Sena bloc on August 7. The Thackeray faction alleges Shinde's group is an "unconstitutional government."
The fund house issued a statement highlighting that Sandeep Tandon was not associated with online platforms or persons associated with these. So, he shall not be held responsible for any actions, agreements, or representations made by these individuals and or unknown persons.
Olympics 2024: Prime Minister Narendra Modi congratulated Indian shooters Manu Bhaker and Sarabjot Singh through a post on micro social media platform X. The Indian pair defeated the Koreans 16-10 to earn the country its second medal at the quadrennial showpiece, and in the process made Bhaker the first Indian post independence to bag two medals in a single edition of the Games.
Commerce and Industry Minister Piyush Goyal criticized Rahul Gandhi's claims on tax terrorism, crony capitalism, MSP, paper leaks, and low representation of OBCs, SCs, and STs in bureaucracy. Goyal accused the UPA government of crony capitalism, failing the economy, and not implementing the Swaminathan Committee report. He praised the current government's economic achievements and policies for startups and farmers.
Gaurav Kochar from Mirae Asset Investment observed that large banks coped better with deposit mobilization challenges than smaller ones. Tight liquidity persisted, but credit growth was steady. Rising funding costs are expected to impact margins. Potential RBI guidelines might affect earnings, with larger banks likely to manage the liquidity situation more effectively.
Mahindra and Mahindra experienced strong revenue growth in Q1 FY25, driven by impressive results in the tractor and automotive sectors. While revenues increased by 16% year-on-year, profits remained flat or declined by up to 14%. Analysts noted better EBITDA margins due to a favorable mix, despite higher advertisement expenses for new model launches.
The Alpha Capricornids and Southern Delta Aquariids meteor showers peaked on July 30 and 31, lighting up the night sky with up to 25 meteors per hour. The showers were best viewed in the Southern Hemisphere, especially in the early morning hours. The waning moon facilitated a clearer sky for observing these celestial events.
Manu Bhaker and Sarabjot Singh won bronze in the 10M Air Pistol Mixed Team event at the Paris Olympics, achieving India's first medal in a mixed-team event. Manu made history by becoming the first Indian to win two medals at the same Olympics. Indian leaders lauded their achievement, celebrating the shooters' dedication.
NLCIL has ambitious capacity expansion plans. It earns a fixed return on equity of 14% on its captive mining segment and 15.5% on its power generation segment. The power plants have long-term PPAs with a regulated two-part tariff structure. This takes care of the recovery of all fixed expenses, including debt obligation.
On Pakistan, Kharge asked whether it is not true that since Prime Minister Modi took oath, there have been 25 terror attacks in Jammu and Kashmir, particularly in the Jammu region, where 15 soldiers or security personnel have been killed and 27 injured.
Leh airport faced disruptions in flight operations because of high temperatures, leading to thin air conditions. Airlines like IndiGo and SpiceJet canceled multiple flights, mostly to Delhi. This was an unusual scenario. Meanwhile, Indian airlines recorded 427 technical faults by mid-July 2024, a rise from the previous years' data.
The plan would be to launch Starship from a SpaceX facility in Texas, land it in the sea off Australia's coast and recover it on Australian territory. Getting permission to do so would require loosening US export controls on sophisticated space technologies bound for Australia, according to the sources, who spoke on condition of anonymity.
Ace Indian shooter Manu Bhaker's father, Ramkrishna Bhaker expressed his feelings as her daughter made history on Tuesday when she became the first Indian to win two medals at the same Olympics.
Prime Minister Narendra Modi has said that India would become a developed nation by 2047- the year when the country is set to complete 100 years as an independent nation. While interacting with industry leaders at a post-budget conference in New Delhi on Tuesday, the Prime Minister explained how this budget addresses several important economic issues.
