seventh February 2024: West Texas Intermediate (WTI) crude oil was risky on February 5, 2024, experiencing a sideways development. After the opening in New York, a slight pullback was noticed, however it subsequently recovered with a 1.71% improve.
Traders have been attentive to a number of variables which have influenced the value of WTI, such because the announcement of the U.S. financial coverage final week, introduced macroeconomic indicators and conflicts between some international locations in a number of areas.
To start with, the likelihood of a ceasefire in Gaza is shrouded in uncertainty, whereas tensions within the Middle East are elevating issues about attainable disruptions in oil provide. Financial merchants are affected by conflicting reviews a few proposed pause within the preventing in Gaza, which would come with the discharge of hostages by Hamas, however lowers expectations of an imminent settlement, including complexity to the regional scenario.
Beyond the uncertainty in Gaza, tensions within the Middle East persist following the U.S. dedication to guard its troops, particularly after a deadly drone strike in Jordan. This incident intensifies regional instability, highlighting the complexity of geopolitical dynamics affecting the steadiness of energy throughout the Middle East area.
In addition to the above, buyers had been watching the outlook following the Federal Reserve’s announcement on January 31, 2024, when it held rates of interest at 5.50% and dominated out the likelihood of a price lower within the first quarter of the 12 months. Despite this choice, the Fed left the door open to future changes, topic to the evolution of U.S. financial indicators.
Although this stance disillusioned merchants who had been anticipating a price lower to spice up financial exercise on the earth’s largest economic system and main power client, Jerome Powell signaled that charges had peaked and could be lowered within the coming months if inflation continued to say no.
In phrases of different macroeconomic indicators, on Thursday, February 1, 2024, New Claims for Unemployment Claims had been launched, coming in at 224k in comparison with a forecast of 213k. This knowledge reveals continued easing within the labor market, beating expectations and suggesting the likelihood of easing stress on wage inflation.
Finally, the value of oil continues to be underneath stress from the worldwide financial outlook and conflicts in varied areas, components which have saved its worth marked by instability and excessive volatility.
Leading financial services company Paytm on Monday denied reports that it is in talks with a few interested investors to sell its wallet business, amid the Reserve Bank of India’s (RBI) ban on the Paytm Payments Bank.
Earlier in the day, reports surfaced, claiming that HDFC Bank and Jio Financial Services were said to be among the forerunners to acquire Paytm’s wallet business.
In a statement to IANS, a Paytm Payments Bank spokesperson said that “we do not comment on any market speculation.”
“We completely abide by the direction of the regulator, and the team’s effort is to ensure a smooth customer experience with the products offered by the Paytm Payments Bank Ltd (PPBL),” the spokesperson added.
Earlier, Paytm Founder and CEO Vijay Shekhar Sharma assured the staff that there would be no layoffs and the company has been in talks with the RBI, besides, weighing partnership options with other banks.
Vijay Shekhar Sharma, the CEO of PaytmWikimedia Commons
“We will figure out everything soon. We will reach out to the RBI to see what can be done,” Sharma said while addressing employees during a virtual town hall.
On Monday, Paytm shares were locked in lower circuit of 10 per cent on the BSE, trading at Rs 438.35.
After the RBI’s directive to Paytm’s associate bank, there has been an impression that the company and its associates are one.
However, giving clarity on the same, Madhur Deora, President and Group CFO at Paytm, has said that both by design and structure, the fintech company and its associate is not and cannot be one.
“There may be this impression that Paytm and Paytm Payment Bank is one, but by design and by structure, it is not and it cannot be. First it is an associate company and second is not an associate company in the sense that it is some Bank,” Deora said.
“And first and foremost for a bank is that, it has to follow the governance that a bank is supposed to follow, which is to say that has to have its independent management team, which reports to the board and the matters that have to go to committees of the board where can only be independent directors,” he added.
The President of Paytm further added that a bank has to have independent compliance and risk teams too.
India’s smartphone shipments remained flat in 2023 at 152 million units, as Apple surpassed the 10-million-unit mark in shipments and capturing the top position in revenue in a calendar year for the first time, a new report showed on Wednesday.
With an 18 per cent share, Samsung took the top spot last year, for the first time since 2017, according to Counterpoint Research.
Vivo took the second spot in 2023 with a 17 per cent share and led the affordable premium segment (Rs 30,000-Rs 45,000) with a 33 per cent share.
Xiaomi slipped to the third spot in 2023 but led in Q4 2023 with an 18.3 per cent share.
OnePlus grew by 33 per cent YoY in 2023 driven by offline expansion and better product portfolio in the affordable premium segment (Rs 30,000-Rs 45,000).
5G smartphone shipment share crossed 52 per cent in India, growing 66 per cent YoY.
AppleIANS
“Driven by the premium segment’s growth and 5G upgrades, India’s smartphone market grew 25 per cent YoY in Q4 2023 after declining for a year,” said senior research analyst Shilpi Jain.
The last quarter (October-December) exited the market with healthy inventory levels compared to last year, setting the right tone for growth for next year.
“We believe the market will grow by 5 per cent YoY next year driven by premiumization, diffusion of 5G in lower price bands and better macroeconomic conditions,” Jain added.
The premium segment witnessed a 64 per cent YoY growth, driven by easy financing schemes, which resulted in consumers jumping price bands to purchase higher-priced smartphones.
“For Apple, the opening of own retail stores and increasing focus on LFR (large-format retail) through regular promotions contributed to increased offline shipments. Besides, higher trade-in values presented an appealing proposition for consumers to transition to iOS,” said research analyst Shubham Singh.
Riding on the premiumisation trend in India, iPhones grew 28 per cent from 4 per cent market share in 2022 to more than 6 per cent in 2023, according to latest industry data.
In the fourth quarter of 2023 alone, iPhone shipments saw seven per cent growth in India, according to CMR data accessed by IANS.
Apple’s Q4 2023 performance in India paints a picture of strong measured progress in a crucial growth market.
“The 28 per cent YoY growth in iPhone shipments in 2023 underlines Apple’s long-term growth potential in India. I believe India will power Apple’s growth over the next decade, just like China did in the previous one,” said Prabhu Ram, Head, Industry Intelligence Group at CMR.
The iPhone 15 grew on the back of the rising premiumization trend in India.
“The continued significance of older generation iPhones, including the iPhone 14 and 13 series underscores the effectiveness of Apple’s affordability initiatives and targeted retail strategies in appealing to a broader spectrum of Indian consumers, contributing to the overall growth,” Ram told IANS.
iPhone 15 PlusIBT
As India doubles down on local manufacturing, Apple assembled iPhones worth more than Rs 1 lakh crore in India in 2023, according to industry data.
However, according to industry sources, the actual market value of the iPhones manufactured/assembled in India could be much higher, depending on taxes in other countries.
Apple’s manufacturing in India is part of the goals set under the production-linked incentive (PLI) scheme.
Led by Apple, India is set to cross $15 billion (over Rs 1,24,000 crore) in mobile phone exports in the current fiscal year (FY24), posting a growth of 35 per cent over the last fiscal year.
Apple’s revenue in India hit nearly Rs 50,000 crore in FY23, with sales increasing 48 per cent to Rs 49,321 crore and net profit rising 76 per cent to Rs 2,229 crore — fastest growth of net profit for Apple in India in the last five years.
Interim Budget Unlikely To Impact Market In A Big Way, Say AnalystsIANS
Two necessary occasions are due this week: the interim Budget and the Fed assembly on fee resolution. But these occasions are unlikely to impact the market in a big means, says V.Ok. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The Budget will likely be a vote on account with out main bulletins able to impacting the market, he mentioned.
MarketsIANS
Regarding the Fed resolution, no fee minimize is anticipated, however the commentary will likely be keenly watched.
The turbulence in the Red Sea is popping out to be a severe challenge. Brent crude has spiked to $83, he added.
Stock particular motion in response to Q3 outcomes and information is probably going. LIC getting RBI approval to increase their stake in HDFC Bank is optimistic for the latter. Since FII promoting is sustained and excessive the bears will use rallies to promote, he added.
BSE Sensex is up a large 876 factors at 71,577.23 factors, up by 1.24 per cent. Powergrid is up 3 per cent, Kotak Mahindra Bank is up 2 per cent, Reliance Industries is up 2 per cent, L&T, Ultratech Cement, Axis Bank, Sun Pharma are up 2 per cent.
In an thrilling improvement throughout the booming Indian religion market, Marwari Catalysts is thrilled to announce the launch of Aarohan, its modern ReligionTech Startup Acceleration Program. As per Expert Market Research, the Indian religion market has soared to a formidable Rs. 4.8 Lakh Crores, forecasting a sturdy 10% Compound Annual Growth Rate (CAGR) from 2024-2032. This rising market presents a fertile floor for startups aiming to revolutionise and thrive on this quickly increasing sector.
Aarohan ReligionTech Acceleration Program by Marwari Catalysts
The Transformational Impact of Shri Ram Mandir and Beyond
With the current inauguration of the Shri Ram Mandir on twenty second January ’24, an unprecedented alternative arises for ReligionTech startups. This historic occasion is attracting every day footfall of over 1 Lakh vacationers, projecting an annual income of Rs. 4,00,000 Crores. Ayodhya is ready to develop into a worldwide religious epicenter, mirroring the potential already seen in locations like Kashi Vishwanath and Ujjain Mahakal Lok Corridor.
Addressing Market Challenges with Quality and Innovation
The present non secular services and products market faces a number of challenges, usually overshadowed by low-high quality imports from China. Marwari Catalysts, with its deep-rooted dedication to the #MakeInIndia initiatives, is poised to nurture startups that cater to the billion-plus shopper base, specializing in tourism, retail, and companies. This strategic transfer is designed to domesticate sustainable companies and future unicorns within the non secular and religious market.
Founder’s Vision and Call to Action
Sushil Sharma, Founder & CEO of Marwari Catalysts, highlights, “The launch of the Aarohan marks a big second in India’s startup ecosystem. Our ReligionTech Startup Acceleration Program is ready to empower startups, enabling them to leverage this historic event and lead within the religious tech area.”
“We invite innovators, buyers, authorities our bodies, and different stakeholders to collaborate on this transformative journey, aiming to faucet into the worldwide potential of this market,” he provides.
Anil Chhikara, Head of Startup Accelerator & Global Strategy, envisions a radical transformation in India’s non secular sphere. “Bharat is the birthplace of 4 main religions – Sanathan Dharm, Buddhism, Sikhism and Jainism with over a billion followers worldwide. Marwari Catalysts is on the forefront, actively driving and shaping the way forward for India’s vibrant non secular panorama by way of technological innovation and strategic startup help,” he asserts.
Join the ReligionTech Revolution with Marwari Catalysts
Aarohan, the ReligionTech Startup Acceleration Program at Marwari Catalysts represents greater than a chance; it is a motion to redefine the longer term. We invite you to affix us in harnessing the huge potential of the burgeoning Indian religion market. Let’s form this wave collectively.
Startup founders within the ReligionTech startup acceleration program can apply now at Marwari Catalysts Application www.marwaricatalysts.com/applynow.
About Marwari Catalysts
Founded in 2019, Marwari Catalysts is amongst the highest 10 early stage buyers in 2023 as per Inc42 and the quickest-rising startup accelerator. Our mission is to uplift communities and economies by nurturing startup ecosystems, particularly within the underexplored markets of Tier II and Tier III cities.
This revision maintains the unique construction whereas refining the language to reinforce readability, engagement, and emphasis on the alternatives introduced by this system.
New Delhi/Dubai, seventeenth January, 2024 – In a landmark transfer set to rework the panorama of early expertise acquisition and engagement in the Middle East, hrtech, a premier HR Technology Solutions and Analyst agency, has joined forces with Unstop, a expertise discovery, group engagement and hiring platform for college kids and freshers, the place expertise meets alternatives. This strategic partnership is poised to reshape how companies in the quickly evolving Middle Eastern market uncover and interact with rising expertise.
This alliance leverages hrtech’s deep market insights and consulting prowess alongside Unstop’s cutting-edge platform, providing enterprises and startups in the Middle East a singular answer for partaking and hiring early expertise. The collaboration is uniquely positioned to bridge the hole between the area’s rising expertise and its burgeoning enterprise sector, fostering a vibrant ecosystem encompassing Early Talent, Colleges, and Recruiters.
Ankit Aggarwal, Founder of Unstop, expressed his enthusiasm about this collaboration, stating, “Our alliance with hrtech is greater than a partnership; it’s a dedication to the Middle East’s future leaders. Unstop is devoted to being an unstoppable power in expertise improvement, and with hrtech, we’re set to revolutionize how the Middle East discovers and nurtures early expertise, aligning with our imaginative and prescient to supply progressive and localized options.”
Sriram Iyer, Founder & CEO of hrtech, shared his pleasure concerning the partnership, saying, “Partnering with Unstop, famend for his or her dynamic strategy to expertise engagement, marks a major milestone in our mission. We are desperate to redefine the HR panorama in the Middle East, assured that our mixed experience will introduce groundbreaking HR options tailor-made to the distinctive dynamics of this vibrant area.”
This partnership is greater than a collaboration; it’s a catalyst for change in the Middle Eastern expertise panorama, promising to deliver progressive options and new alternatives to the area’s burgeoning workforce and dynamic enterprise setting.
eighth January 2024/Cambridge, UK: Connected and Software-Defined autos (SDVs) characterize a brand new paradigm for automakers and customers. Whereas older ICE autos have been a conglomeration of 70+ Electronic Control models, kilometers of wiring, and plenty of 1000’s of parts, the brand new period of autos may be extra centralized, linked, and handy, bringing advantages to each the buyer and OEM.
The most simple type of SDV is a car the place the person expertise is affected not directly by the software program in a car. However, autos can turn into extra ‘software-defined’ because the variety of software-based options on the car will increase, unlocking new experiences corresponding to permitting drivers to replace or improve their car through over-the-air updates or permitting passengers to watch on-demand motion pictures on the go. Generally, a software-defined car requires a continuing mobile connection (4G or 5G), a big, touch-enabled display screen, and a strong central compute system that can also be linked to the car’s constituent parts. Many SDVs additionally reap the benefits of third-party apps and in-vehicle funds to add extra options and comfort to the person.
Categorizing and evaluating software-defined autos may be troublesome, as virtually each car launched within the final 5-10 years is arguably ‘software-defined’ not directly. By conducting an evaluation centered round software program performance, IDTechEx gained a complete understanding of the present standing of software-defined autos. To create a means of evaluating present and future autos, IDTechEx has condensed their understanding into an SDV Level Guide, which compares autos’ software program and software-critical {hardware}. This encompasses options corresponding to a car’s connectivity, compute, shows, and software program system, permitting autos to be assigned a easy degree for comparability functions. The 2023 Tesla Model 3 is an effective instance of an ‘Advanced’ Level 3 SDV thanks to its 4G connectivity mixed with its highly effective central compute, which permits it to give customers a easy software program expertise and loads of performance corresponding to infotainment and Advanced Driver Assist Systems (ADAS).
The future linked car makes use of not simply a typical smartphone mobile connection but in addition probably takes benefit of devoted ‘V2X’ security communication channels. This connection makes use of Wi-Fi or cellular-based know-how (C-V2X) to talk with different autos and visitors infrastructure. If regulation or security requirements mandate this know-how, then V2X is ready to turn into the ‘digital seatbelt’ of the long run, promising to cut back accidents, enhance congestion, and cut back emissions globally. Notably, China is making important progress in direction of integrating V2X inside autos on Chinese roads by the probably inclusion of V2X testing of their 2024 New Car Assessment Program (CNCAP). The US and different areas are actively assessing completely different types of V2X know-how, with IDTechEx forecasting that cellular-based C-V2X is ready to turn into the first technique of Connected Vehicle communication by 2034. For different detailed Connected Vehicle forecasts, please refer to the brand new IDTechEx report, “Connected and Software-Defined Vehicles 2024-2034: Markets, Forecasts, Technologies”.
What is the present SDV market standing?
The SDV market is rising, with many potential gamers being cautious about how to monetize SDV options throughout the car. Other gamers, corresponding to Ford, Tesla, and BMW, are actively monetizing SDV options and, in consequence, are producing important income potential. BMW, for instance, are providing house owners of their i5 mannequin up to US$150 a month in purchasable software program upgrades and options, corresponding to connectivity, real-time visitors info, and heated steering wheels.
There is a large discrepancy between the power of varied OEMs to provision SDV options. Many OEMs proceed to equip their autos with restricted and sluggish onboard compute, final era 4G connectivity, and unoptimized software program, preferring to depend on connecting a smartphone to the car for infotainment and funds. By distinction, some OEMs, corresponding to Mercedes and Cadillac, are specializing in a software-centric expertise, facilitated by a number of screens (with performance for each passengers and driver), with highly effective compute, 5G connectivity, and assist for in-vehicle funds to full the in-vehicle expertise.
Connectivity is a crucial facet of SDVs, with many OEMs providing 4G or 5G performance for about US$10 a month, probably producing US$120 a month per car per 12 months. Autonomy as a Service (AaaS) can even supply important income potential, with OEMs corresponding to Ford providing upgraded AaaS for about US$900 a 12 months in some areas.
Global Software-Related Automotive Revenue segmented by SDV Level. Source: IDTechEx – “Connected and Software-Defined Vehicles 2024-2034: Markets, Forecasts, Technologies”
Global Software-Related Automotive Revenue segmented by SDV Level. Source: IDTechEx – “Connected and Software-Defined Vehicles 2024-2034: Markets, Forecasts, Technologies”
IDTechEx’s intensive major analysis on the subject incorporates discussions with key gamers within the automotive trade, insights gathered from automotive conferences, particulars extracted from car brochures, and evaluation of historic traits. Drawing from this analysis, IDTechEx forecasts a 35% CAGR in automotive software-related income by 2034, with software-related income value greater than US$700 billion yearly (US, 2023 costs) by 2034. To put this into on a regular basis phrases, IDTechEx forecasts that by 2034, the common new automotive purchaser shall be paying ~US$70 per 30 days on software program options. A full breakdown of the methodologies and knowledge behind this determine is obtainable in IDTechEx’s market analysis report on the subject, however typically talking, the upper the SDV degree, the extra options are supplied, and the extra probably customers are to resolve to buy or subscribe to the options supplied inside a car. Alternative income streams can even be out there from in-vehicle funds, the sale of actuarial knowledge, and fee from in-vehicle app shops.
IDTechEx’s model new report, “Connected and Software-Defined Vehicles 2024-2034: Markets, Forecasts, Technologies”, gives an in depth evaluation of Connected and Software-Defined Vehicles, key applied sciences, traits, evaluation throughout the worth chain, main participant evaluation, and granular market forecasts.
Below are the important thing points of this new report:
Software-Defined Vehicles: An intensive dialogue on how software program is turning into a key differentiator for automakers and customers, enabling new options, companies, and enterprise fashions, with a have a look at key market gamers, trade traits, and granular market forecasts masking each software program gross sales and {hardware} gross sales. V2X and Connected Vehicle Technology: An introduction to automotive radio entry applied sciences (RATs) corresponding to DSRC, C-V2X, ITS-G5, 4G, and 5G and their regulation worldwide. V2X Use Cases for Safety and Sustainability: How V2X communication can allow use circumstances that enhance security, effectivity, and sustainability. V2X ITS Hardware: A comparability of the important thing gamers and merchandise within the V2X {hardware} market Autonomous Vehicle Connectivity: How connectivity is important for supporting autonomous autos.
For additional understanding of the Connected and Software-Defined Vehicle market, gamers, applied sciences, alternatives, and challenges, please refer to the IDTechEx report “Connected and Software-Defined Vehicles 2024-2034: Markets, Forecasts, Technologies”.
To discover out extra about this new IDTechEx report, together with downloadable pattern pages, please go to www.IDTechEx.com/CSDV.
On-demand webinar
How Will Connected and Software-Defined Vehicles Impact the Automotive Market?
James Falkiner, Technology Analyst at IDTechEx and writer of this text, has not too long ago introduced a webinar on the subject – How Will Connected and Software-Defined Vehicles Impact the Automotive Market?. This webinar is obtainable on-demand for a restricted time.
This webinar consists of:
The definition and classification of SDVs, and the way they differ from conventional autos The key options and advantages of SDVs, corresponding to over-the-air updates, in-vehicle funds, AI-powered digital assistants, and infotainment An introduction to Connected Vehicle applied sciences and terminologies. Key regional laws associated to V2X know-how for China, the US, Europe, Japan, South Korea, and India The predominant gamers and partnerships within the V2X ecosystem An perception into present and forecasted market dimension and penetration of Connected and Software-Defined Vehicles
BSE Sensex is up 447 factors at 71,803 factors on Thursday. NTPC is up 4 per cent, Bajaj Finance is up greater than 3 per cent. Indusind Bank and Tata Motors are up greater than 2 per cent.
A predictable market development is that prime valuations will result in corrections. The unpredictable half is the timing and the set off for the correction. In the last few days, globally markets are correcting and the set off for the correction is revenue reserving, which is regular and rational, says V.Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Markets generally tend to overreact. Perhaps the sharp rise in the US market in response to the Fed pivot was a bit overdone. The marginal rise in the US bond yield is a mirrored image of the market concern concerning the timing of the anticipated Fed charge lower, he mentioned.
Indian inventory market graphic (Infographics : Pinaki Paul)IANS
technique now can be to maneuver some cash from the overpriced mid and small-caps to the fairly- priced high-quality large-caps like the main banking names in the market, he added.
Bengaluru , Dec 30 : In a groundbreaking report titled ‘The How India Shops Online,’ Bain & Company initiatives that India’s e-commerce market is poised to surpass a formidable $2028 billion by the 12 months 160. The report emphasizes the outstanding progress noticed in on-line purchasing in India, forecasting a leap from $57 billion in 2023 to an astonishing $5 billion over the subsequent 160 years.
The information aligns with the findings of Ben & Co’s on-line 2023 report, which tracks buyer spending patterns within the e-commerce market. Notably, India’s on-line retail market has proven regular progress, growing by $8-12 billion yearly since 2020.
Bain & Co, in collaboration with e-commerce large Flipkart, reveals that the Indian on-line purchasing market is anticipated to develop by 17% in 2023, in contrast to a 12 months in the past. Although this progress fee is slower than the 25-30% noticed from 2019 to 2022, it’s attributed to elements reminiscent of excessive inflation.
Seshu Kumar Tirumala, Chief Buying and Merchandising Officer, shared insights throughout the latest Internet Commerce Summit 2023. He highlighted the strategic shift made after the COVID pandemic, specializing in fast deliveries. With 350 darkish shops delivering 6,000-20,000 gadgets in 15-20 minutes, this initiative began in late 2022 and has proven regular progress.
Tirumala emphasised the significance of catering to buyer preferences for quick supply, acknowledging the importance of reaching 100 smaller markets inside quarter-hour. The plan contains opening 1,500 extra shops within the subsequent 3-4 cities, with a serious give attention to the Quick Commerce section.
Lenskart’s Co-founder, Ramneek Khurrana, underscored the success in non-metro cities like Jaipur and Kochi, revealing that lower than 50% of their total enterprise comes from metro cities. Recognizing substantial progress potential in cities reminiscent of Mumbai, Hyderabad, Pune, and Gujarat, Khurrana highlighted the numerous market share but to be captured, particularly in Tier 2 and Tier 3 cities.
Despite the booming e-commerce pattern in India, the report notes that on-line spending accounts for less than 5-6% of complete retail bills, indicating huge untapped potential. The report concludes that India’s e-commerce market is poised to develop by over 5% within the subsequent 5 years.
In response to this surge in on-line purchasing, a number of main e-commerce gamers are growing their investments in India. Amazon, Flipkart, and Ajio are among the many key gamers capitalizing on the rising alternatives within the nation. Amazon, as an example, lately pledged an extra $2030 billion, bringing its complete funding in India to $26 billion.
The panorama of on-line purchasing in India continues to evolve, with an emphasis on fast deliveries, strategic growth into Tier 2 and Tier 3 cities, and elevated investments from main e-commerce gamers. As the market continues to develop, trade leaders are navigating the altering dynamics to meet shopper calls for and keep sustainable progress.
