2024 Financial News

global megatrends in 5G, data centers, electronic vehicles, healthcare, artificial intelligence, and Industry 4.0. Three EMS players namely Kaynes, Avalon, and VVDN entered into Transfer of Technology (ToT) licensing with the Central government for the development of Advanced Computing (CDAC) for developing ‘high performing computing servers (HPC)’. The supply chain has still not come up in India and EMS players are dependent on component imports. The government has recently given approvals for defence acquisitions/procurements amounting to ~INR78b. In the long term, combined revenue for the MOSL EMS coverage basket is poised to register a 38% CAGR over FY23-26E, aided by an improvement in high-value product mix (box builds) and increasing order flows from high-margin industries such as A&D, Clean Energies, Industrials, etc. Consequently, combined EBITDA margin is likely to expand by a few basis points more to reach ~14.0% by FY26, with EBITDA CAGR of ~40% to reach INR19.8b over FY23-26 from INR7.3b only in FY23 The Jul-Sep quarter is a seasonally weak period for the EMS industry.

Citizenship (Amendment) Act (commonly known as CAA) is expected to be ready by March 30 next year, News agency PTI reported. Addressing a gathering of Matua community at Thakurnagar in North 24 Parganas district, the BJP MP from Kheri constituency in Uttar Pradesh, said nobody can snatch citizenship rights from the community, adding that the Act passed by the Parliament in December 2019 ensured that the members of the community had become citizens of this country.

Hardik Pandya, who led IPL team Gujarat Titans (GT) in the tournament's last two editions, is set to return to Mumbai Indians (MI) as both franchises have finalised an all-cash deal trade-off. The confirmation came hours after the IPL retention window closed on November 26. GT had then stated that it had retained Pandya, who led the side to its inaugural victory in the 2022 edition.

Union Minister of State for Home Ajay Mishra on Sunday said that the final draft of the Citizenship (Amendment) Act or CAA is expected to be ready by March 30 next year. The BJP MP from Uttar Pradesh, while addressing a gathering of the Matua community at Thakurnagar in North 24 Parganas district, asserted that nobody can snatch citizenship rights from Matuas, who had fled religious persecution in Bangladesh. «The process to roll out CAA has gained momentum in the last couple of years… some issues are being sorted out.

India all-rounder Hardik Pandya has been transferred to Mumbai Indians, reported Cricbuzz on Sunday. The cricket website further said that the deal has been signed by the franchises involved — Mumbai Indians and Gujarat Titans.

CricTracker reported on Sunday. Apart from this, they have canceled their trade deal with Mumbai Indians.

As Ripple’s XRP coin continues its upward rally, the crypto community is abuzz with speculation about its future trajectory. Currently priced at $0.6200, XRP has shown remarkable resilience and a bullish trend, despite the usual market fluctuations.

Premier League (IPL) has begun as the 10 teams of the tournament will announce their final decisions of players they will be retaining, trading or releasing before the auction in December. The last date to swap or to release players is November 26. The announcements will be made in the 'IPL Retention Show' that will be broadcasted and streamed online for the fans.

Neeraj Chopra said that he will try to win a medal in the Paris 2024 Olympics. While speaking to the reporters, Neeraj said that he is working hard for the 2024 Olympics which will take place in Paris. He added that he will give his best in the upcoming multi-sport event since the opportunity comes every four years. The Asian Games gold medalist further added that he just wants to make the country proud and not think about the result. «I am practising well for it.

Mumbai Indians are able to bring back Hardik Pandya from Gujarat Titans, it will be considered the biggest trade in IPL history. The deadline for retention and trading players by the teams is November 26, 2023. The auction of the tournament that will be played next year is on December 19 in Dubai.

IPL) teams to finalise their player retentions for the 2024 season. This date is significant as it determines team compositions for the next season, influencing strategies and potentially impacting team performances in the IPL. Let’s have a look at the probable updates in various teams, as reported by various media outlets.

Indian smartphone market is expected to grow in 2024 after falling for two years, buoyed mainly by affordable 5G devices and smartphones being given away by parties ahead of upcoming general elections, according to market trackers and industry executives. IDC India forecast a 5-8% on-year growth in 2024 with shipments expected to hit 148 million units, and Counterpoint Research pegged it at 5% with shipments in the 155-157 million range. CMR India estimates overall smartphone shipments to grow by 8-9% with 5G shipments anticipated to grow 40% year-on-year, while TechArc expects the growth at 3-4%. The rebound is expected after the Indian smartphone market fell volume terms for two years as demand in the entry-level segment got hit due to adverse macroeconomic factors, which led to higher prices, as well as the pandemic.

Vidhu Vinod Chopra directed movie ‘12th Fail’ has been submitted for Oscars as an independently nomination, India Today reported. Vikrant Massey was talking at the Sahitya AajTak 2023 event when he confirmed that ‘12th Fail’ had been submitted to Oscars as an independent entry from India.

Ben Stokes to miss next year's IPL, will focus on Test series against India "Yes, I can confirm that there have been talks of Hardik going to MI. There remains a chance that he might switch sides but at this moment, nothing more can be confirmed as of now as the deal is yet to be signed," said an IPL source to PTI news agency.

A combination of slowing inflation and weakening consumer strength is expected to result in significant earnings downgrades, leading to potential equity market drawdowns and defensive sector and style rotations, according to JPMorgan strategists.

Call of Duty (CoD) series is anticipated for a fall 2024 release, with a probable launch in October or November, based on the historical pattern of the franchise's release schedule. Despite Microsoft's recent acquisition of Activision Blizzard, assurances have been made by Phil Spencer that Call of Duty games will continue to be available on PlayStation consoles, with a deal also in place for future titles on Nintendo hardware. The uncertainty around the franchise's future on PlayStation has been overshadowed by the completion of the acquisition, granting Xbox more control over its destiny. The game is expected to release on the standard platforms, including Xbox, PlayStation, and PC, with the possibility of an extension to Nintendo consoles due to a potential long-term agreement. As for the game's setting and timeframe, while leaks have suggested a focus on the 1993 Battle of Mogadishu in Somalia, conflicting reports indicate diverse possibilities. Some sources suggest a return to the Black Ops series, specifically a title named Black Ops Gulf War, set in the early 90s with a more traditional, boots-on-the-ground style of gameplay. Contrarily, industry insider Tom Henderson hinted at a semi-futuristic approach in Treyarch's next game. Other rumors speculate on the Iraq War in the early 2000s. The lack of consensus makes predicting the game's specifics challenging at this stage.

The idea of a Bitcoin supercycle, first introduced by Bitcoin educator Dan Held in 2020, is once again gaining traction in the community as Bitcoin is entering what some believe could be another long-term bullish phase.

Bitcoin (BTC) buyers should “enjoy” the chance to add to their stack below $40,000, says one of crypto’s household names.

JEE Advanced 2024: The Indian Institute of Technology, Madras, has released the schedule for the upcoming Joint Entrance Examination (JEE) Advanced 2024 for admission to prestigious Indian Institutes of Technology (IITs) and other renowned engineering colleges in India. Registration date: Registration for JEE Advanced 2024 will open on April 21, 2024, at 10:00 a.m. IST and close on April 30, 2024, at 5:00 p.m. IST.

JEE Advanced 2024 Exam Date Released: The Joint Entrance Examination (JEE) Advanced 2024 exam date has been announced. The JEE Advanced 2024 exam is scheduled to be held on May 26. The JEE Advanced 2024 application window will open on April 21 and will remain open until April 30, 2024.

The Austrian subsidiary of European lender Raiffeisen Bank is preparing to allow its clients to trade cryptocurrencies like Bitcoin (BTC) in the coming months.