Digital Financial News

India's Skyroot Aerospace said on Monday it has raised $27.5 million in a fresh round of funding led by Singapore's Temasek, upping the ante in the country's burgeoning space industry days after rival Agnikul Cosmos raised a similar amount. The Hyderabad-based company, which launched India's first private rocket in 2022, is set to launch its second commercial rocket, the Vikram-I, next year. The launch vehicle can take payloads of upto 300 kilograms into low earth orbit.

40% stocks in Nifty IT index have moved into the oversold region and among them Tech Mahindra and LTTS looks to be gearing up for a bounce back, says Anand James, Chief Market Strategist at Geojit Financial Services. “Among the NSE500 stocks, 10% stocks are oversold. Interesting fact is that Chemical stocks have corrected significantly and around 70% have either entered the oversold region or close to the oversold region,” he says. Edited excerpts: After six days of non-stop decline that ended with October series expiry, was Friday's upside expected? Nifty showed strong support at 200-DMA. What are the targets for the new series? Both the non stop decline as well as the turn on Friday could be explained by 200 DMA which remained the target and thereby a point for reversal, after the penetration of 19500 triggered panic selling. Friday also saw the November derivative series becoming active, also aiding a bounce back that has now retraced about 23% of the fall. This retracement could stretch as far as 19150 as well, while momentum could even push the recovery move to 19420 which is from where bears could mount fresh challenges in the days ahead. Alternatively, inability to hold above 19050 or a direct pull back below 18900 would also ensure that the 200 DMA at 18600 is tested. Breach of the same would bring the worst case scenarios into the picture, with 17000 as the likely objective, but this is least favoured at the moment.

Hindustan Unilever's managing director Rohit Jawa has told ET that the Centre's progressive and reformer mindset, manifest in New Delhi's economy-anchored policy thrust and commentary, should bring 'considerable' overseas funds into India — a demonstrated growth outlier in an inflation-ravaged world struggling to come to grips with geopolitical uncertainties. «The Indian economy is unstoppable because of the sheer demographics of a billion people of working age,» Jawa said in his first media interview after taking over the top job at India's biggest consumer-goods company in June. «At this point of time in geopolitics, India is sweetly positioned. So, that does mean there will be considerable foreign investment coming in.»

The old marketing and advertising sectors face a reckoning, says high-profile Australian advertising boss David Droga. A lot of the work “is shit”, “formulaic”, and adheres to what he describes as a “disruption model”.

MUMBAI, BENAGLURU : Nine of India’s top 10 software services firms, employing more than 2 million engineers, have seen their workforce shrink in the six months to 30 September, the first time in more than 25 years, as clients in the US and Europe cut spending amid rising economic and geopolitical risks. With the six months to March typically softer for IT companies than the first half because of fewer working days, the year ending 31 March may mark the first instance of Indian IT companies ending the year with fewer employees than at the beginning of the fiscal year, according to industry executives and staffing firms.

New Delhi: The government is planning to create a real-time supply and demand model for select agricultural commodities that will help it plan and evaluate policy for a volatile market. The “mathematical model" will use dynamic and real-time data from high-frequency indicators and historical trends, said a government official requesting anonymity. The step comes at a time when consumers have been battling price volatility in several essential commodities and the government has launched a slew of measures to keep inflation in check.

₹75,700 crore universal service obligation (USO) fund to be used for telcos’ capex or investments on networks, which is 5% of the telcos’ overall adjusted gross revenue, and is part of the 8% licence fee they pay to the government. The fund is used for ensuring connectivity in places where there is none, primarily in far flung areas with tough terrains and poor access.

Apple's revenue in India hit nearly Rs 50,000 crore in FY23, with sales increasing 48% to Rs 49,321 crore and net profit rising 76% to Rs 2,229 crore. It is the fastest growth of net profit for Apple in India in the last five years, according to the Economic Times, citing information from Apple's Registrar of Companies (RoC).

Investing.com — Here is your Pro Recap of 5 head-turning deal dispatches you may have missed last week: Chevron to buy Hess for $53 billion, Vista Equity Partners to pick up EngageSmart, Roche to buy Telavant Holdings from Roivant and Pfizer , Western Digital drops on 'scrapped' merger, and Forward Air seeks to terminate disastrous Omni merger.

JERUSALEM (Reuters) — The head of self-driving auto technologies firm Mobileye and one of Israel's leading businessmen, Amnon Shashua, on Sunday urged the immediate ouster of Prime Minister Benjamin Netanyahu and his government.

OKX Ventures, the venture capital subsidiary of notable cryptocurrency exchange and Web3 technology firm OKX, declared its involvement in the Series B funding phase of Celestia Lab today. Celestia stands as the pioneering modular blockchain network which allows developers to utilize its platform as a foundational layer for consensus and data processes. Post this, developers have the liberty to select a virtual machine, such as Ethereum, Solana, or zero-knowledge roll-ups among other compatible smart contract execution layers, to create and launch their distinct blockchain networks. This notion diverges from the earlier blockchain infrastructure generations where Layer-1 chains were responsible for consensus, data operations, and execution collectively, a setup referred to as 'monolithic' by Celestia.

code of conduct for companies developing advanced artificial intelligence systems, a G7 document showed, as governments seek to mitigate the risks and potential misuse of the technology. The voluntary code of conduct will set a landmark for how major countries govern AI, amid privacy concerns and security risks, the document seen by Reuters showed.

fire that is closest to us. But it is equally crucial to understand and address the root causes so that we have fewer fires to fight. As populist forces have polarized electorates and deepening social divides worldwide, the global political climate has grown increasingly volatile.

Reliance Jio sees global foray as an option which is continuously under evaluation at the company, a senior company official said. While speaking to the media at India Mobile Congress, Reliance Jio President Mathew Oommen said that India is now a tier 1 plus country and there should be no apprehension in framing policies that are right for the nation. “We think the opportunity for India to go global is big. Reliance will continue to review options to see how best to represent India globally and offer value to customers leveraging the technology capabilities that we have already operationalized in India,” Oommen said. He said that to truly drive the Digital India vision, the government should start leveraging Rs 75,700 crore Universal Services Obligation Fund (USOF) not just for mobile tower deployment but to make devices and services affordable and accessible for individuals. He said Jio Bharat Phone ecosystem is an enabler to 2G mukt Bharat and AI Yukt Bharat. He said that the underutilised USO fund should be leveraged for not just telecom infrastructure but also giving help to individuals for devices and services for those who cannot afford the transition. «Anyone who cannot afford connectivity or monthly rent should be given a device and service model by leveraging the fund,” Oommen said. The government at present charges 8 per cent of telecom companies' revenue as licence fee.

India has asked the WTO members to work on a clear definition of e-commerce trade in goods and services as it would help provide developing countries a policy space to make decisions on the fast-growing sector, an official said. At present, there is a difference of understanding about the subject between developed and developing member countries of the World Trade Organization (WTO). The issue came up for discussion during a recent meeting of senior officials of WTO members in Geneva last week.

Telecommunications (DoT) as one of the recipients of the prestigious '100 5G labs' initiative. The announcement was made during a virtual ceremony hosted by the Prime Minister Narendra Modi at the Indian Mobile Congress (IMC-23) at New Delhi on October 27, a release from MAHE said on Sunday. The visionary programme, a collaboration between DoT and the Cellular Operators Association of India (COAI), saw the inauguration of 100 5G labs across various prestigious institutions in India.

The starting gun has fired on ARN Media’s $225 million takeover bid for rival radio and television broadcaster Southern Cross Austereo – but Street Talk understands the target is taking advice from a new source.

retail and cybersecurity.

Google's AI chatbot Bard will now be faster and reply to your questions in real time. As per the update, responses will show in real time while in progress. If you can tell the response won't be useful, a blue «Skip response» button appears, reports 9to5Google. You can switch between the «Respond in real time» and «Respond when complete» options. Bing Chat, Microsoft's AI chatbot, also responds in real time.

bob LITE Savings Account’ details: Bank of Baroda (BoB) has introduced bob LITE Savings Account, which is a Lifetime Zero Balance Savings Bank Account. The facility has been launched as a part of “BOB Ke Sang Tyohaar Ki Umang” festive campaign. bob LITE offers customers a hassle-free banking experience without any minimum balance requirement, the bank said in a statement.  

ARN Media has been “opportunistic” and chosen the “absolute cyclical low” in the media market to launch a surprise takeover offer if its main rival, Southern Cross Austereo, the target’s chairman says.