Perplexity AI CEO Aravind Srinivas challenges Infosys cofounder Nandan Nilekani's view that Indians should focus solely on building applications using pre-existing AI models. Srinivas emphasizes the importance of developing model training skills alongside application development. He also pledges a personal investment of $1 million and five hours per week to support initiatives for enhancing India's AI capabilities.
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The government's decision last July to reduce import duties on gold has significantly had a positive impact on the industry, and any increase in tariffs in the upcoming Budget may have adverse effects, said World Gold Council.
Railway Budget 2025: Indian Railways is likely to receive a 15-20% increase in capital expenditure for FY26, with a focus on track expansion, modernisation, and essential equipment procurement. Priorities include upgraded stations, modern trains, and reducing congestion.
Household debt in India has increased to 42.9% of GDP as of June 2024, driven mainly by a rise in the number of borrowers. Most borrowing is for consumption, asset creation, and productive activities, with highly rated borrowers prioritizing asset investments. This trend is seen as enhancing credit quality and financial resilience.
Aditya Birla Group's UltraTech Cement is set to acquire Wonder Cement's white cement business for Rs 235 crore. This acquisition will enhance UltraTech's production capacity, leveraging Wonder Cement's strategically located plant and booming turnover in the competitive putty manufacturing market.
Shutterstock and Getty Images announced their merger plans to create a $3.7 billion visual content leader. Craig Peters will lead the combined company, offering diverse media portfolios. Under the agreement, Getty shareholders will own 54.7% of the merged entity, Shutterstock 45.3%, and Shutterstock shares soared nearly 30% following the announcement.
Coffee Day Enterprises Ltd (CDEL) faces resumed insolvency proceedings as the NCLAT did not issue its order by the Supreme Court’s deadline. The insolvency process, initially started due to Rs 228.45 crore default claim, was previously stayed pending appeal.
The US trade deficit narrowed by 6.1% to $122.7 billion in February before President Trump launched new tariffs. US exports rose while imports remained nearly unchanged. Analysts expect these tariffs to impact businesses' supply chains and costs, potentially affecting imports and exports in the coming months as new tariffs take effect.
Economist Thomas Piketty addressed India's extreme inequality, second only to South Africa. He advocated for a 2% wealth tax on the ultra-rich to fund public services and broaden the tax base, citing China's success with increased tax revenue and reduced inequality. He emphasized India's potential for faster growth and poverty reduction with less inequality.
Citi maintained a 'buy' rating for LIC Housing Finance with a target of Rs 851. Nuvama upgraded Coromandel International to 'buy' with a target of Rs 2,347. Jefferies reiterated its 'buy' on KFin Technologies, setting the target at Rs 1,530.
In a significant shake-up of the tech industry, Nvidia's shares dropped by nearly 17% after a new Chinese generative AI model by DeepSeek emerged as a formidable competitor. The AI model, developed at a fraction of the cost, challenges US dominance in the AI sector, causing widespread market reactions.