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Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1% stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49% shareholding. Vistara's last flight will take off tomorrow i.e. November 11, 2024. Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49% interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1% equity interest in the enlarged Air India. Post-merger, SIA expects to recognize a non-cash accounting gain of around 1.1 billion Singapore dollars and also start equity accounting for its share of Air India's financial results. According to a release on Friday, the merger includes an agreement for SIA to contribute its share of any funding previously provided by Tata prior to the completion of the merger, together with relevant funding costs up to Rs 5,020 crore that would allow it to maintain a 25.1% stake in Air India. "SIA's additional capital injection is expected to be Rs 31,945 million (equivalent to SGD 498 million), based on Tata's funding to Air India to date. This will occur after the completion of the merger and within November 2024 through subscription to new Air India shares. "Future capital injections will be considered based on Air India's requirements and available funding options," according to the release issued while announcing the airline's financial performance for the six months ended September 2024. The merger of Vistara with Air India will mark a major consolidation in the fast-growing Indian aviation space. SIA said the merged entity will have a significant presence across all key Indian air travel segments, including domestic, international, full-service, and low-cost operations. "This will strengthen SIA's multi-hub strategy, allowing it to continue participating directly in India's large and fast-growing aviation market," it added. Recently, Air India and SIA agreed to significantly expand their codeshare agreement, adding 11 Indian cities and another 40 international destinations to their network.

Singapore Airlines to invest additional Rs 3,195 cr in Air India post-Vistara merger

After several days of impressive gains, Indian stock indices saw some correction on September 27, 2024, as investors booked profits following a prolonged rally. The <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword>, which briefly touched the 86,000 mark during the trading session, closed the day slightly lower at 85,571.85 points, down by 264.27 points or 0.31%. Similarly, the <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> index, which reached a lifetime high of 26,277.35, eventually closed in the red at 26,175.15 points, down by 40.90 points or 0.16%. Market participants were primarily focused on locking in gains after the indices reached record highs. Sectoral performance saw a divergence, with banking, financial services, media, and real estate stocks facing pressure. <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research at <keyword id="19933343" type="General" weightage="20" keywordseo="geojit-financial-services" source="keywords">Geojit Financial Services</keyword>, pointed out that after the recent surge, "the benchmark indices experienced a sideways movement today as investors engaged in profit booking at elevated levels." He further added that market participants are eagerly awaiting the second-quarter earnings report, which could provide clarity on future earnings potential. <h2>Global factors and FPI activity</h2>One of the key drivers behind the <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> rally in recent weeks has been the US Federal Reserve’s decision to loosen its monetary policy, with a significant 50-basis-point cut in interest rates. This move has resulted in a flow of capital from the US to markets like India, where policy rates are higher, thus providing attractive returns. The looser monetary policy in the US has encouraged foreign portfolio investors (FPIs) to continue investing in Indian equities. FPIs have remained net buyers in India for the fourth consecutive month, further supporting the stock indices. As per data from the <keyword id="20070086" type="General" weightage="20" keywordseo="national-securities-depository-limited" source="keywords">National Securities Depository Limited</keyword> (NSDL), FPIs have purchased Indian stocks worth ₹48,822 crore in September alone, a trend that has bolstered market confidence. The strong FPI inflows reflect optimism about India's economic prospects and its equity market returns. <h2>Sectoral performance and outlook</h2>Despite the overall market decline, the performance varied across different sectors. Public sector banks, defence, and railway stocks, which had seen significant buying interest earlier, took a backseat as pharma, private banks, and mid-size IT companies began to attract attention due to their appealing valuations. These sectors are now expected to drive the next market phase in the coming quarters, according to Krishna Appala, Senior Research Analyst at Capitalmind Research. The markets traded in a narrow range for most of the day, with little overall movement despite positive global cues. An early rebound in the IT sector briefly boosted the indices, but the gains were short-lived. The broader indices, including the Nifty and Sensex, remained largely flat, echoing the sluggish performance of heavyweight stocks. Ajit Mishra, Senior Vice President of Research at Religare Broking, noted that "sector-wise, pharma and energy posted solid gains, while banking and real estate sectors saw profit booking." Looking ahead, Mishra maintained a bullish outlook on the markets, advising investors to use periods of consolidation or dips to accumulate quality stocks. He added that, in the absence of any significant domestic triggers, global markets will likely set the direction for Indian equities. On the Nifty index, he anticipated strong support around the 25,900-26,000 zone, with an upside target at 26,500. <h2>Technical insights</h2>Hrishikesh <keyword id="23343291" type="General" weightage="20" keywordseo="yedve" source="keywords">Yedve</keyword>, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd., shared his technical analysis of the <keyword id="20105832" type="General" weightage="20" keywordseo="nifty-and-bank-nifty" source="keywords">Nifty and Bank Nifty</keyword> indices. He observed that while the Nifty started the day on a flat note and registered a new lifetime high, it eventually faced profit booking and closed marginally lower. "Technically, the index on a daily scale has formed a small red candle, but on the weekly scale, it has formed a big green candle," Yedve explained. He added that as long as Nifty holds above the 26,000 level, a "buy on dips" strategy should be followed, with an immediate short-term target of 26,500. On the Bank Nifty front, Yedve pointed out that the index started on a weak note and remained under pressure throughout the day, closing at 53,834. He highlighted the formation of a bearish Marubozo candle on the daily chart, which signals potential short-term weakness. However, on the weekly scale, Bank Nifty remains above the breakout point of a rounding bottom pattern, indicating strength. "In the short term, Bank Nifty may witness consolidation or profit taking, but any dip around 53,350-53,400 will offer fresh buying opportunities," Yedve advised. <h2>Market wrap-up and outlook</h2>Reflecting on the week’s performance, <keyword id="23343292" type="General" weightage="20" keywordseo="amol-athawale" source="keywords">Amol Athawale</keyword>, VP-Technical Research at Kotak Securities, noted that the benchmark indices had maintained positive momentum, with the Nifty ending 1.5% higher and the Sensex gaining over 1,030 points. <keyword id="20102108" type="General" weightage="20" keywordseo="metal" source="keywords">Metal</keyword> and auto stocks were the standout performers, with the Metal index rising by 7% and the Auto index by 4.5%. Athawale highlighted the importance of the Nifty and Sensex breaching key resistance levels of 26,000/85,000 last week, which has provided a boost to market sentiment. Technically, Athawale pointed to the formation of a bullish candle on the weekly charts and an uptrend continuation pattern on the daily and intraday charts, signalling a potential continuation of the rally. However, he cautioned that "buying on dips and selling on rallies would be the ideal strategy for short-term traders." He identified 26,100/85,300 as crucial support zones for the Nifty and Sensex, with resistance expected around 26,400-26,500/85,900-86,300. As for Bank Nifty, Athawale described the medium-term outlook as bullish but noted that overbought conditions could lead to range-bound activity in the near term. He suggested that 53,500-53,100 would serve as key support zones, while profit booking could occur near 54,500-54,800. (With inputs from agencies)

Indian markets ease as profit booking follows record-breaking streak

The generative AI provides more <keyword id="20069513" type="General" weightage="20" keywordseo="opportunity" source="keywords">opportunity</keyword> to the Indian IT sector contrary to the believe of being a threat, highlighted a report by Nuvama Wealth Management. The report noted that although AI <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">technology</keyword> may initially disrupt the sector, especially in terms of business operations and billing models, the long-term benefits far outweigh the risks. "We, on the contrary, expect the Indian IT industry to come out stronger from the <keyword id="19906101" type="General" weightage="100" keywordseo="Gen-AI" source="keywords">Gen AI</keyword>-led disruption. We dig deep into various facets of Gen <keyword id="20037918" type="General" weightage="20" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> for enterprises and find that Gen AI would create a mammoth incremental opportunity for <keyword id="20617562" type="General" weightage="20" keywordseo="Indian-IT-services" source="keywords">Indian IT services</keyword>," said the report. The report noted that as more enterprises adopt AI, the need for services such as upgradation of legacy code and data readiness for AI integration will increase, offering Indian IT firms new streams of revenue. The report mentioned one of the most significant opportunities lies in the modernization of <keyword id="21835113" type="General" weightage="20" keywordseo="legacy-systems" source="keywords">legacy systems</keyword>, particularly core banking systems (CBS). It stated that many <keyword id="19912054" type="General" weightage="20" keywordseo="financial-institutions" source="keywords">financial institutions</keyword> still use mainframe systems and outdated programming languages like COBOL. Gen AI enables automated code modernization, which will drive a major demand for Indian IT services to upgrade these systems, creating a long-term revenue stream. "Since most non-Indian (read European) do not have the scale to hire and deploy employees with the ability to code in COBOL (not to mention supply crunch)--they have ceded this opportunity to <keyword id="21817095" type="General" weightage="20" keywordseo="Indian-IT-Services-companies" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian IT Services companies" meta.hostid="261" meta.entityid="Indian IT Services companies">Indian IT Services companies</keyword>" said the report. The report specifically highlighted the "upgradation of legacy code" as a key area of opportunity for IT companies as businesses prepare their systems for AI integration. Gen AI is expected to create new service lines for Indian IT companies, including AI-based <keyword id="19945906" type="General" weightage="20" keywordseo="customer-service" source="keywords">customer service</keyword>, fraud detection, predictive maintenance, and knowledge processing. These AI-driven solutions will allow IT firms to offer higher-value services to clients, boosting revenue and profit margins. "Indian IT companies have always repositioned themselves to continue to do what they do best--service customers. That has provided them with the longevity they have commanded for multiple decades now. We do not see that changing this time as well" the report added. Comparing Gen AI to "a hammer looking for a nail," the report suggested that the technology's applications are still being discovered, but its potential is undeniable. Looking ahead, the report forecasts a strong start to FY25 for Indian IT companies, with growth driven by an optimistic outlook for the Banking, Financial Services, and Insurance (BFSI) sector, increasing technology spending, and large deal ramp-ups.

Gen AI to unlock a "mammoth incremental opportunity" for Indian IT services: Report

Foreign Portfolio Investors (FPIs) continued their bullish stance on <keyword id="19965036" type="General" weightage="20" keywordseo="Indian-stocks" source="keywords">Indian stocks</keyword>, infusing Rs 16,881.03 crore in the second week of September, according to data from the <keyword id="20070086" type="General" weightage="20" keywordseo="National-Securities-Depository-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="National Securities Depository Limited" meta.hostid="261" meta.entityid="National Securities Depository Limited">National Securities Depository Limited</keyword> (<keyword id="20519694" type="General" weightage="20" keywordseo="NSDL" source="keywords">NSDL</keyword>). The data covers investments made between September 9 and September 13, 2024. The highest inflow was recorded on Wednesday, September 11, when FPIs invested a substantial Rs 2,962.44 crore into Indian stocks, signalling strong confidence in the country's <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword>. This week's <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> marked a continuation of the positive trend seen in the first week of September, during which FPIs made net investments totaling Rs 10,980 crore. With the latest inflows, the total foreign investment in Indian equities for September now stands at Rs 27,861 crore, indicating robust interest from global investors. The experts noted that the upcoming US federal meeting on rate cuts will remain a key focus point along with <keyword id="20052796" type="General" weightage="20" keywordseo="corporate-earnings" source="keywords">corporate earnings</keyword> for both domestic and <keyword id="19900795" type="General" weightage="100" keywordseo="Foreign-investors" source="keywords">foreign investors</keyword>. "Indian markets overcame last week's negative sentiments stirred by SEBI's deadline over FII's disclosure norms and recession fears in the US. Despite volatility, DIIs and FIIs flows remained positive as a strong monsoon, and an expectation of an uptick in demand during the festive season drove investor sentiment. Going ahead, market focus will be on the upcoming FOMC meeting next week, while domestic market direction will also be influenced by domestic corporate earnings" said Vinod Nair, Head of Research, <keyword id="19933343" type="General" weightage="20" keywordseo="Geojit-Financial-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Geojit Financial Services" meta.hostid="261" meta.entityid="Geojit Financial Services">Geojit Financial Services</keyword>. The consistent <keyword id="21008975" type="General" weightage="20" keywordseo="FPI-inflows" source="keywords">FPI inflows</keyword> reflect the increasing attractiveness of Indian markets, driven by strong economic fundamentals, improving corporate earnings, and positive global sentiment towards emerging markets. Earlier, the net foreign investment in August in the Indian equity market declined to Rs 7,322 crore, marking the lowest monthly investment in the past three months. This drop is particularly stark when compared to July, where foreign portfolio investors (FPIs) had invested Rs 32,359 crore, according to data from the National Securities Depository Limited (NSDL). As per the data by NSDL, throughout August, foreign investors were largely net sellers in the Indian equity market.

Foreign investors pump Rs 16,881 crore into Indian stocks this week

The <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed up by as much as 1,400 points during the day, to close at 84544.31. Nifty wasn't far behind, inching up over 1% during the day to close at 25790.95. What is driving this rally? And this is not just the secondary market. The primary market, i.e. IPO subscriptions are also witnessing a stellar surge in investor interest. The IPOs of Northern Arc Capital and Arkade Developers, which closed yesterday, were oversubscribed 117 times and 113 times, respectively, largely on the back of significant investments made via the QIB and NII categories. But the question is, what is driving this frenzy, which comes on the heels of the Fed's recent announcement slashing interest rates by a significant 50 basis points? Experts explain that the most direct impact of the rate cut comes in the form of higher <keyword id="20078820" type="General" weightage="20" keywordseo="foreign-capital-inflows" source="keywords">foreign capital inflows</keyword> into emerging markets like India. The impending anticipation of this is what is driving the rally witnessed in the stock market today. As per data from NSDL’s FPI monitor, foreign investors infused a net total of Rs 2,341.64 crore in Indian equity markets via stock exchanges, as of September 19th, 2024. Data shows that September has seen inflows of around Rs 27,862 crores in first half of September. This is around 4 times the flows seen during the entire month of August. Just within this week (till September 19), FPI inflows have touched Rs 5,419 crores. Palka Arora Chopra. Director, <keyword id="23251477" type="General" weightage="20" keywordseo="Master-Capital-Services" source="keywords">Master Capital Services</keyword> Ltd explains that the current upswing in the stock market results from market forecasts of increased foreign inflows into India following the Fed rate decrease. “This, combined with the fact that US jobless claims are at their lowest since May 2024, have alleviated concerns about the US labor market failing, rather, it is simply slowing down. This is also why the Dow Jones Industrial Averages and S&amp;P 500 index surged to 1.7%, and Asia saw a rise in markets across Korea, Japan, and Hong Kong”, she continued. Riding on the tide of higher foreign inflows is the strengthening of Indian Rupee. Already, the rupee has regained strength from a high of 84.0 to 83.7 over the last week, and this trend may continue in the near term. Santosh Meena, Head of Research, Swastika Investmart Ltd notes that historically, emerging markets tend to outperform during the onset of a rate-cut cycle in the U.S. “Indian markets, backed by robust fundamentals, remain resilient despite concerns over valuations. Large-cap stocks, particularly in the private banking sector, continue to look attractive, fueling the current bullish momentum. This positive trend is expected to persist unless significant negative developments arise on the domestic or global front”, he highlights. Mr. Pradeep Gupta, Co-founder &amp; Vice-chairman, Anand Rathi Group notes that this rate cut comes with some short-term benefits for the country, which means stronger rupee and potential capital inflows. "A stronger rupee would make imports cheaper, potentially improving India’s trade balance. However, these advantages may be temporary if the US economy continues to weaken. The Reserve Bank of India (RBI) may follow the Fed’s lead but not immediately. Improved global sentiment could drive a rally in <keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>, as emerging economies like India become more attractive to investors", notes Gupta. But note that in the longer term, the direction of the Indian stock market will depend largely on global economic conditions, and particularly the health of the US economy. If the US achieves a “soft landing”, as is targeted by Fed, and avoids a recession, Indian equities may experience gradual growth. However, if the global outlook deteriorates, Indian markets—especially mid and small-cap segments, could come face to face with increased volatility and market downturns. <h2>What should your investment strategy be?</h2>SEBI registered Investment Advisor Gaurav Goel advises having a thorough look at your portfolio whenever the equity markets hit a fresh high. Look, it is practically impossible to time the markets. But, as a smart investor, markets hitting a fresh high is a good time to rebalance your portfolio, so that you can cushion your funds from any significant downturn that will invariably stem from any market downturns thereafter "When equities hit all time highs, there is a natural tendency of equity component of your asset allocation to breach the prescribed asset allocation. In such a situation, on should reassess the asset allocation and shave off excess percentages from the equity allocation to revert to the mean". Goel also suggests hedging a portion of your portfolio by buying naked long dated put options on benchmark index like Nifty 50. This way, you'd be able to benefit from a decrease in the prices of underlying assets, without having to own it. But most importantly, "At these crests, its important to shuffle your portfolio. Remove the crap, low-value stocks that might have made their in your portfolio during bullish phase, and replace with high quality stocks. Shift your assets more toward the large cap stocks/index funds where the volatility would be less or towards sector/market caps, which are less expensive on valuations", Goel continued. As for traders looking to make the most of the ongoing upward trajectory of the market, Osho Krishan, Senior Analyst, Technical &amp; Derivatives, Angel One, advises "capitalizing on the upward momentum by taking profits, rather than adopting an aggressive stance in the overbought territory". "From a technical perspective, we have entered a phase where the market is overbought, as indicated by various metrics. Therefore, it is crucial to avoid complacency and instead adopt a practical and realistic approach to the current situation", he continued. Anirudh Garg- Founder and Fund Manager at Invasset PMS explains that "When markets hit an all-time high, investors need to reassess their strategies to navigate potential risks while still capitalizing on opportunities. However, it’s essential to understand that not every market high signals overvaluation. There’s a key difference between markets reaching record levels and being fundamentally expensive. Identifying this distinction helps avoid premature decisions based solely on market peaks". "In particular, when mid-cap and small-cap stocks exhibit stretched valuations, investors should shift their focus to high-quality companies. These are firms with robust balance sheets, consistent earnings growth, and strong competitive advantages, often found in sectors linked to steady inflation", says Garg. Naturally, quality stocks tend to be more resilient in volatile environments, offering stability and better protection against downside risk. Also, don't forget to keep an eye out for the risk-reward ratio, which becomes critical during expensive markets. This involves diversifying portfolios, avoiding overexposure to overheated sectors, and focusing on capital preservation while seeking reasonable returns. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Indian markets surging to all time highs today: What's happening post Fed decision?

India's services sector showed robust expansion in October, per the <keyword id="22267674" type="General" weightage="20" keywordseo="HSBC-India-Services-PMI" source="keywords">HSBC India Services PMI</keyword> (Purchasing Managers' Index), which rose to 58.5 last month, up from September's ten-month low of 57.7. October's figures managed to exceed even the long-run PMI average of 54.1, largely on the back of a strong sales pipeline and elevated demand. Employment, or job creation in this sector accelerated to its fastest growth rate in 26 months. Anticipating solid, sustained demand in the near term, firms added new employees at the most rapid pace in over 2 years. October also saw <keyword id="23834175" type="General" weightage="20" keywordseo="input-costs-rise" source="keywords">input costs rise</keyword> at their fastest pace in 3 months, indicating renewed demand and economic activity in the country. The ISM Services PMI, an indicator of the economic health of the US, also exceeded expectations, reaching 56.0 compared to the forecasted 53.8, suggesting strong growth within the services sector. "During October, the Indian services sector experienced strong expansions in output and consumer demand, as well as job creation, which achieved a 26-month high," said Pranjul Bhandari, Chief India Economist at HSBC. The sector saw increased business activity across multiple fronts, with export sales showing significant growth and companies reporting stronger demand from international markets including Africa, Asia, the Americas, the Middle East, and the UK. However, industry experts remain cautiously optimistic about the sector's prospects. Suman Chowdhury, Chief Economist at Acuité Ratings &amp; Research, noted that while the October recovery is promising, several factors warrant careful monitoring. “The recovery in the PMI indices in October 2024 is promising for the second half of the fiscal after the dip in several high-frequency indicators in September 2024. Industrial and service activity has expectedly received a boost from the anticipated spike in consumption demand in Q3 FY25, driven by the festivities and the marriage season," she said. Chowdhury added that it will be crucial to monitor the sustainability of these PMI indices at these elevated levels, given the reported weakness in urban demand in Q2 as flagged by FMCG companies. She also noted that potential increases in wholesale and core retail inflation, combined with higher input costs and wage pressures, could delay expected interest rate cuts. RBI governor Shaktikanta Das also noted that inflation and CPI figures for October might be elevated, pushing ahead any chances of interest rate cuts in the near future. Acuité Ratings &amp; Research maintains its GDP growth forecast at 7.0% for FY25 while acknowledging the multiple downside risks that will require close observation in the coming months.

India's Services Index jumps to 58.5 in October as employment grows the fastest in 26 months

India’s Chief Economic Advisor (CEA), <keyword id="20690607" type="General" weightage="20" keywordseo="V-Anantha-Nageswaran" source="keywords">V Anantha Nageswaran</keyword>, remains optimistic about the nation’s economic prospects despite a slower-than-expected <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> in the second quarter of FY2024-25. Speaking at the Bharat @100 Summit hosted by Assocham, he said that the fundamental health of the economy remains robust, according to a report by aNI. Nageswaran highlighted several indicators demonstrating the economy’s resilience. “If you run through the checklist for the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword>, the health is pretty robust,” he noted, pointing to controlled levels of external debt as a share of GDP, declining non-performing assets in the banking system, and stable inflation trends. Although certain food items have caused inflationary spikes, their impact is limited within the overall consumer price index basket, he explained. The CEA praised the shift in fiscal expenditure priorities over the past seven years, with greater focus on capital investments rather than revenue spending. This reallocation, he suggested, has bolstered long-term economic stability and growth potential. India’s GDP growth for the July-September quarter was 5.4%, significantly below the Reserve Bank of India’s forecast of 7%. While this has sparked concerns among economists, Nageswaran urged against overreacting. Erratic monsoons and excessive rainfall disrupted economic activity in Q2, he explained, while global uncertainties and supply chain pressures further weighed on growth. Despite these challenges, he maintained confidence in the broader growth narrative, citing improvements in key economic metrics. For instance, India’s gross capital formation has risen from 27.3% of GDP in the second decade of the 2000s to 30.8% today. Private consumption remains steady, and exports—spanning both services and manufacturing—continue to perform well even amid challenging global conditions. Nageswaran also underscored India’s growing competitiveness in international trade. He noted that the nation’s total <keyword id="24325087" type="General" weightage="20" keywordseo="exports-as-a-percentage-of-GDP" source="keywords">exports as a percentage of GDP</keyword> now surpass China’s, showcasing its resilience and adaptability in a shifting global trade environment. However, he cautioned against reading too much into quarterly fluctuations, highlighting the impact of geopolitical developments such as trade restrictions from the US on critical minerals and rare earths, as well as policy shifts in China. These external factors, he suggested, are likely to persist and may continue influencing short-term economic trends. (with ANI inputs)

Indian economy is resilient despite Q2 challenges, says CEA Nageswaran

The foreign portfolio investors have infused Rs 15,420 crore so far this week in the Indian <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword>, according to the data from the <keyword id="20294652" type="General" weightage="20" keywordseo="National-Securities-Depository" source="keywords" meta.keywordsubtype="org" meta.entityname="National Securities Depository" meta.hostid="261" meta.entityid="National Securities Depository">National Securities Depository</keyword>. The net investment by the foreign portfolio investors (<keyword id="19979726" type="General" weightage="20" keywordseo="FPI" source="keywords">FPI</keyword>) surged to Rs 30,772 crore so far in July indicating the good buying by the <keyword id="19900795" type="General" weightage="100" keywordseo="foreign-investors" source="keywords">foreign investors</keyword> in the <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>. The foreign investors have so far bought equities worth of Rs 1,30,138 crore this year. "FPI flows are expected to remain volatile this week. The markets were strong, led by strong earnings and commentary from the large-cap. This week, the markets of India, Brazil, Indonesia, Malaysia, Philippines, and South Korea witnessed inflows, while the markets of Taiwan, Thailand and Vietnam witnessed outflows" said Shrikant Chouhan, Head of Equity Research, Kotak Securities. Internationally the foreign investors this week have injected around $585 million in Brazil, $300 million in Indonesia, $324 million in Malaysia and $2,085 million in South Korea. On the other hand, Taiwan witnessed an outflow of $5325 million and Vietnam witnessed a selling of $278 million of foreign investment this week. According to market experts, foreign investors are investing in Indian markets amid a weakening in <keyword id="22484170" type="General" weightage="20" keywordseo="dollar-and-bond-yields" source="keywords">dollar and bond yields</keyword>, and if this trend continues, foreign investment will continue as well. "During the fortnight ending 15th July, FPIs were buyers in autos, capital goods, healthcare, IT, telecom, and oil and gas. A notable trend was the lack of buying in <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, which partly explains the poor performance of financial services in July so far. If the recent trend of weakness in dollar and bond yields persists, FPIs are likely to continue their buying in the market," said V K Vijayakumar, Chief Investment Strategist, at Geojit Financial Services. Foreign Institutional investors were sellers in January, April, and May, cumulatively selling equities worth around Rs 60,000 crores. However, they were buyers in February, March, and June, with cumulative purchases amounting to Rs 63,200 crores.

Foreign investors infuse Rs 15,420 crore in Indian markets this week

The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors. As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions. <h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day: <ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services. <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program. Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs. <h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible. <h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail. <h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years. <h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly. <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div>

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

<keyword id="20779198" type="General" weightage="20" keywordseo="Chief-Economic-Advisor" source="keywords">Chief Economic Advisor</keyword> V Anantha Nageswaran emphasized the crucial and positive role that artificial intelligence (<keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>) can play for the <keyword id="22505095" type="General" weightage="20" keywordseo="Indian-demography" source="keywords">Indian demography</keyword> and <keyword id="20278114" type="General" weightage="20" keywordseo="labour-force" source="keywords">labour force</keyword> during a press conference on the <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24. He noted that within the next decade, India is poised to become the world's third-largest economy and will benefit significantly from its demographic dividend. However, Nageswaran also acknowledged potential challenges posed by AI, particularly for India's <keyword id="20811086" type="General" weightage="20" keywordseo="business-process-outsourcing" source="keywords">Business Process Outsourcing</keyword> (BPO) sector. He stated, "The short-term challenge of generative AI could slow <keyword id="22505093" type="General" weightage="20" keywordseo="BPO-sector-growth" source="keywords">BPO sector growth</keyword>, affecting <keyword id="21300718" type="General" weightage="20" keywordseo="customer-services" source="keywords">customer services</keyword>. It is possible that the jobs related to BPO will be under threat whereas AI may actually turn out to be a booster." Furthermore, Nageswaran also pointed out that the emergence of AI might reduce annual <keyword id="21420133" type="General" weightage="20" keywordseo="productivity-growth" source="keywords">productivity growth</keyword> by approximately 0.3 percentage points in the coming years. This indicates a potential short-term dip in productivity as industries adapt to new technologies. Despite these challenges, Nageswaran added that the long-term potential of AI is promising. The broader adoption of AI could lead to significant improvements in critical areas such as healthcare and education, thereby enhancing human capital. The economic survey presented in the Parliament by finance minister Nirmala Sithraman says in the medium term Indian economy can grow at a rate of 7 per cent. The economic survey stated, "In the medium term, the Indian economy can grow at a rate of 7 per cent plus on a sustained basis if we build on the structural reforms undertaken over the last decade. This requires a tripartite compact between the Union Government, State Governments and the private sector." Achieving a sustained growth rate of over 7 per cent will require a tripartite compact between the Union Government, State Governments, and the private sector. India's financial sector is undergoing critical transformations. During FY24, primary capital markets facilitated capital formation of Rs 10.9 lakh crore, accounting for approximately 29 per cent of the gross fixed capital formation of private and public corporates in FY23. It further adds India faces a unique blend of opportunities and challenges amid global trends such as geo-economic fragmentation, a push for self-reliance, looming climate change, the rise of technology, and limited policy space. (ANI)

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