BIGGER TROUBLE FOR INDIA
VinFast making a tiny EV for about Rs 8 lakh to change its fortunes. Is it coming to India?
Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal", according to VinFast. The VF3 might also appeal to Indian families looking for a compact car with a range suitable for getting around in India's crowded cities.
Will Infosys, TCS meet the same fate as India’s cotton mills?
The nation’s outsourcing dominance may go the same way as its textile industry, which lost out to automation during the first industrial revolution
For an AI lesson, India must look back — 300 years
The profound impact of the industrial revolution on cotton-spinning may be poised for a repeat in a $250 billion white-collar powerhouse. As generative AI morphs into artificial general intelligence — machines rivaling human cognitive abilities — even highly complex tasks may not require expert programmers.
Dalal St is likely pricing in a Modi 3.0 but election winners already have a bitter household burden
India's stock market hit an all-time high last week, as investors anticipate a third term for Prime Minister Narendra Modi will boost corporate profits. However, consumer debt poses a significant risk. Slow wage growth, high interest rates, and heavy borrowing have strained spending for over 300 million families. Despite this, investors expect post-election growth in private capital expenditure and infrastructure projects
Don’t pop that pill daily: Doctors red-flag proton pump inhibitors used to treat acid reflux, heartburns
The reason for the popularity of PPIs among doctors and patients is not tough to gauge. With unhealthy lifestyles and dietary habits, acidity is common among Indians. While many brands of PPIs are sold almost over-the-counter, Pan, Pantop, Omez and Rablet fly off the chemist’s shelves. Doctors warn that overuse of these drugs can have a slow and debilitating impact.
JP Morgan’s Rajiv Batra on why FIIs are selling and how to position portfolio now
Rajiv Batra of JP Morgan discusses the positive macroeconomic indicators in India, including PMI prints, the Sagar Mala initiative for waterways, and upgraded GDP forecasts. He highlights the growth potential in sectors like water transportation and domestic manufacturing. Batra says: "We are much more positioned on domestic cyclicals, domestic demand, which keeps us overweight on still financials, autos and real estate overall."
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Real estate demand continues to stay strong; buy strong players: Hiren Ved
Three large ones and then you have the few ones which are focused in the South. But now, I think everybody is getting everywhere because what happened was that the industry got massively consolidated. So, the number of players in each geography really shrunk.
India can't, in the name of open economy, open up its national security to work with China: S Jaishankar
From the big shifts in foreign policy under the Modi government, the China challenge to CAA and the heat and dust of electoral politics, External Affairs Minister S Jaishankar touched on a range of topics in a freewheeling discussion at the ET Roundtable.
2 years after privatisation, Air India's turnaround is still on the tarmac
Tata Group acquired Air India in January 2022 from the government, aiming to revive the debt-ridden carrier. However, the merger with Vistara faces hurdles as pilots protest pay changes. Despite efforts to restore Air India's former glory, challenges persist, including operational issues and staff unrest, impacting the turnaround process.
Byju’s fires 500 employees; India Inc and influencer marketing
Troubled edtech Byju’s has fired nearly 500 staffers amid a severe cash crunch. More details on this in today’s ETtech Top 5.
Percentage of small, midcap stocks trading below 20-DMA down to 57% from 83%: Anand James
The percentage of small and mid-cap stocks trading below 20-DMA has come down to 57% from 83% last week, indicating attempts to pull back. However, the percentage of stocks closing below the 30-day low increased to 9% from 2% last week which indicates that the recovery that we have seen lately among the SMIDs is yet to become broad-based.
Troubles in tech/startup space offer financial institutions pool to fish for talent
Recent months have seen a slew of mid- and senior-level executive movements from tech companies and startups including Paytm, Byju’s, Swiggy, Upstox, EnKash, Lendingkart, PayU, Myntra and Flipkart to organisations such as Kotak Mahindra Bank, IndusInd Bank, HDFC Bank, HSBC, RBL Bank, IDFC First Bank, Bajaj Finserv, Angel One and Mahindra Finance.
U-19 final preview: India's young turks take on mighty Aussies to clinch World Cup glory
A win over an Australian team would be more than just remarkable for the likes of Uday Saharans, Sachin Dhas, Musheer Khans, and Saumykumar Pandeys. On November 19, last year, an Australian squad broke the hearts of millions of Indians after trouncing a Rohit Sharma-led team on a worldwide platform. India U-19 had beaten Australia in the 2012 and 2018 finals, and will again start favourites during this edition's title match.
Paytm Money KYC process under review; Satya Nadella on India’s AI potential
The customer verification process of Paytm Money, the wealth management entity run by Paytm’s parent One 97 Communications, is being audited. This and more in today’s ETtech Morning Dispatch.
All things rural India, uneven economic growth: FM Sitharaman's Budget & economy perspective in-depth
Nirmala Sitharaman has been spearheading the economic management of the Modi government during its second term. Following the presentation of her consecutive 6th budget, she mentioned that the government deliberately refrained from addressing issues in fragments during the vote on account and chose to wait until the full budget in July for a comprehensive approach. The FM expresses confidence that the Indian economy is set to maintain its growth trajectory, and the govt is poised to effectively control inflation.
Airbus is pulling ahead as Boeing’s troubles mount
Airbus has cemented its position as the world's largest plane maker for the fifth straight year, announcing that it had delivered more aircraft and secured more orders than Boeing in 2023. The incident involving the Boeing 737 Max 9, which blew open in the fuselage of an Alaska Airlines flight in midair, was the latest in a string of safety lapses in Boeing’s workhorse aircraft, including two fatal crashes in 2018 and 2019.
When FMCG giants pushed on with a cartful of troubles
Overall sales of apparel and electronic products have been languishing for over a year now, while those of mass-segment electronic products have been low since the pandemic outbreak. According to researcher GfK, there was a slight pick-up in mass segment during Diwali.
Sky-high home rents trouble IT employees back in office
Techies are battling the highest increase in house prices and rentals as landlords have started charging inordinate amounts amid the return-to-office demands of managements, as per data accessed by ET.
Pilot Project: Indian aviation faces twin troubles
Indian aviation sector is facing a shortage of trained and experienced pilots even though there are long roster of licensed but inadequately skilled pilots. Lower number of quality trained instructors and the shrinkage of the number of flying clubs are adding to the problem.
Why is India edgy about Israel's war? The threats that loom over India
The ongoing conflict between Israel and Hamas poses several potential threats to the Indian economy. One major concern is the impact on oil prices, as India relies on imports for 85% of its oil needs. Higher oil prices could lead to increased import costs, fuel/fertilizer subsidies, and a weaker rupee, which would affect the country's current account deficit and GDP growth.
World Bank must become bigger to be relevant for 4 decades: Ajay Banga
The bank will soon approach its shareholders proposing a capital increase and redefinition of its mandate, he added. "I'm definitely going to go back to our shareholders to seek a bigger bank," Banga said. "I believe that is what the world needs for the next coming decades."
Byju’s troubles mount as board members, auditor Deloitte resign; Tata Digital rejigs top brass
On Thursday evening ETtech first broke the story of three of Byju’s key board members resigning. Soon after Deloitte, the edtech’s statutory auditor, too, resigned citing delay in furnishing the company’s financial results. This and more in a super packed Friday edition of ETtech Morning Dispatch.
SpiceJet significantly restructuring balance sheet: Ajay Singh
The cash-strapped carrier has been facing multiple headwinds though it reported a multi-fold rise in net profit to Rs 107 crore in the three months ended December 2022, helped by better performance in passenger and cargo businesses. SpiceJet chief Ajay Singh on Monday said that a measure of desperation is always good for an organisation and the airline will emerge stronger.
View: Adani Group isn’t India, but its troubles mirror the nation’s woes
Whatever the outcome of the gladiatorial contest, one thing is clear: From airports and roads to green hydrogen, data centers and mining, the five companies that the conglomerate was planning to float in the public markets between 2026 and 2028 may have to be incubated by the flagship a lot longer. That will cost.
Double trouble or booster shot? February 1 not just about Budget for Nifty trackers
In the first Fed meeting of 2023, Powell is widely expected to slow down the pace of interest rate hikes. CME FedWatch Tool shows a 91% probability of a 25 basis point rate hike in the two-day Jan 31-Feb 1 meeting.
Oil merchants troubled by trading norms that don’t fit price cap
The US pushed for the measure as a way of softening European Union sanctions that threatened a far bigger supply disruption and surge in prices. Now the market is trying to figure out what effect the cap will have.
Deeper US recession spells big trouble for India, says Swaminathan Aiyar
"In the first half is that we may have seen a very very mild recession, which is not a serious issue. There has been a slowdown in the world economy, no doubt about it, but if this is all and we do a little better, it would be a very bearable thing. The real problem we face is what happens six months or nine months down the road."
Russian oil: PSUs to tank up, eye bigger discounts
State refiners have bought more than 15 million barrels of Russian crude from traders as well as Russian firms since the outbreak of war, paying in dollars using regular banking channels, they said. The Ukraine invasion began February 24.
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