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Picture this. You are in the middle of an intense boss fight. Arrows flying from all directions. Beastly creatures are after you and in the midst of it all you spot a large dragon who lands right in the middle of action. You quickly change your weapon choice and instruct your companions to fight the dragon with you. However, just before you could attack, you run into a system error and have to restart the game all over again. Trust me, we have all been there. But this wasn’t the case with the newly-launched Dragon Age: The Veilguard.<br /><br /><div type="image" title="3" msid="116133701" hostid="261" sizebytes="1807404"></div><br />This is a game that pushes both graphical fidelity and hardware performance, delivering a breathtaking journey through a richly detailed fantasy world. With my PC armed with an AMD Ryzen 7 9800 X3D processor, Nvidia GeForce RTX 4070 Super GPU, 32 GB DDR5 RAM, I was able to get a great experience with this game. Let us take a look at how the game performed with different settings. <br /><br /><h2>The sweet spot<br /></h2><br />Starting with DLSS set to Balanced mode, I tested the game at a resolution of 2560x1440 with ultra graphics and selective <keyword id="20976394" type="General" weightage="20" keywordseo="ray-tracing" source="keywords">ray tracing</keyword>. Without frame generation, the gameplay clocked in at 90 FPS, offering smooth visuals. Enabling frame generation and turning off V-Sync cranked the frame rate up to 140 FPS, significantly enhancing responsiveness during combat and exploration.<br /><br /><div type="image" title="6" msid="116133722" hostid="261" sizebytes="1410873"></div><br />Lowering the resolution to 1080p further pushed the performance to 180-190 FPS with frame generation, and 120-110 FPS without it, making the gameplay exceptionally fluid.<br /><br /><h2>Prioritising visual fidelity<br /></h2><br />Switching to Nvidia <keyword id="24385578" type="General" weightage="20" keywordseo="DLSS-Quality-mode" source="keywords">DLSS Quality mode</keyword>, which focuses on visual excellence over raw performance, I saw fantastic results. At 1080p resolution with ultra graphics and frame generation off, the game maintained an average of 118 FPS. <br /><br />Returning to 2K resolution with Quality DLSS, Nvidia Reflex set to “On + Boost,” and frame generation enabled, the frame rates ranged between 130-150 FPS. The experience was smooth and visually stunning, with every texture rendered in incredible detail. In some scenarios, frame rates even spiked to 180-200 FPS, peaking at 220 FPS in less graphically intense areas. I spent hours exploring the vast world with this setting, marvelling at various scenes it had to offer. The environment artists have really done a fabulous job and the game looks breathtaking.<br /><br /><div type="image" title="4" msid="116133742" hostid="261" sizebytes="1234786"></div><br />When I switched DLSS to Performance mode at 2K resolution, the game delivered around 160 FPS, offering a good balance of visuals and performance. <br /><br /><h2>Prioritising performance<br /></h2><br />To test the game’s performance, I tweaked around the settings a bit and here is how it went.<br /><br />At 1080p resolution, with Ultra Performance DLSS, frame rates soared to 230-250 FPS, with only a slight reduction in visual quality—barely noticeable unless scrutinised.<br /><br />To explore maximum performance potential, I switched from ultra to high graphics settings with ray tracing off, DLSS set to Ultra Performance, and frame generation enabled. This unleashed astonishing frame rates of 300-350 FPS, showing that at lower graphical presets, the game resulted in almost unbelievable frame rates without a drop. The visual quality was noticeably reduced but the game wasn’t unplayable. You still will get to see some gorgeous scenarios, even with these graphic settings.<br /><br /><div type="image" title="7" msid="116133766" hostid="261" sizebytes="991975"></div><br />Reverting DLSS to Quality mode under these settings still delivered an average of 260 FPS, proving the rig’s capability to handle demanding titles like Dragon Age: The Veilguard with ease.<br /><br /><h2>Ray Tracing: A visual feast</h2>The pinnacle of visual fidelity in the game came with DLSS Quality mode with ultra graphics, ray-traced reflections, and ambient occlusion at 2K. With these settings enabled, I got an average of 110-120.<br /><br />Even during intense battle sequences, frame rates rarely dipped below 100 FPS. The realistic reflections and intricate lighting effects made environments come alive, with highlights like walking through water puddles becoming a jaw-dropping experience.<br /><br /><div type="image" title="5" msid="116133782" hostid="261" sizebytes="1046215"></div><br /><br />Thus, Dragon Age: Veilguard delivered a stellar performance on my custom water-cooled system, thanks to NVIDIA's 4070 Super GPU and DLSS option.  Whether you’re a player who prioritises ultra-smooth gameplay or one who revels in visual splendour, the game offers a wide range of configurations to suit your preferences.<br /><br />With its flexibility in settings, Dragon Age: Veilguard proves to be a masterfully optimised title that caters to both performance enthusiasts and visual connoisseurs. <br /><br />On my rig, the game performed brilliantly, making every battle, exploration, and story moment a seamless experience. Whether you’re walking through shimmering puddles or taking down foes in epic battles, this is a journey that will keep you hooked for hours. <br />

Dragon Age The Veilguard performance review: How Nvidia 4070 Super GPU powers this aesthetic marvel

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand.<br /><br />For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. <br /><br />A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. <br /><br />"The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. <br /><br />Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% <br /><br />The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <br /><br /><h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week.<br /><br />The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310. <br />

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

<ul><li><keyword id="22862470" type="General" weightage="100" keywordseo="iQOO-Z9s-Pro" source="keywords">iQOO Z9s Pro</keyword> comes with the Snapdragon 7 Gen 3 processor with up to 12GB RAM.</li><li>The phone is ideal for gaming and multitasking, with 80W fast charging</li><li>iQOO Z9s Pro sports a sleek, contemporary design, offering a lightweight and comfortable grip.</li></ul><br />iQOO, over the years, has carved a niche for itself in the smartphone market and has various mid-range phones that promise the best performance at a relatively affordable price point. And the iQOO Z9s Pro also falls under this category. We, at Business Insider India, have been using the iQOO Z9s Pro for over a month and after our testing, we can confidently say that this is the smartphone that can give you good performance for under Rs 25,000.<br /><br /><div type="image" title="6" msid="115764952" hostid="261" sizebytes="904220"></div><br />In India, the iQOO Z9s Pro’s price starts at Rs 24,999 for the 8GB RAM and 128GB storage model. The 8GB RAM variant with 256GB storage is priced at Rs 26,999, while the top-end model with 12GB RAM and 256GB storage comes in at Rs 28,999. For our testing, we used the top-end model in white colour. So, should you go ahead and buy the iQOO Z9s Pro? Let’s find out. <br /><br /><h2>iQOO Z9s Pro: Design and display<br /></h2><br />The iQOO Z9s Pro sports a sleek, contemporary design, offering a lightweight and comfortable grip. The phone features a sturdy glossy back panel with a marble feel to it which is visible when the lights are on. The phone, at a glance, looks quite stylish and will stand out in a crowd. I personally am not a fan of prints but the marble feel on the iQOO Z9s Pro looks quite elegant and not at all overdone. Then there is the familiar square camera module and the iQOO branding. The camera module is surrounded by a metallic finish border which elevates the whole look.<br /><br />  <div type="image" title="10" msid="115764970" hostid="261" sizebytes="833759"></div><br />At the bottom is the USB Type C charging port and sim tray. The right edge houses the power and volume buttons that are quite easy to get to while holding the phone in one hand. The left edge is left completely free. The edges also sport a silver metallic finish and are worth noticing. The phone comes with a curved display which further enhances its look.<br /><br />During my usage, I didn’t see any fingerprints on the back panel which is a huge plus. The front, however, did form smudges and gathered dust quickly.<br /><br />  <div type="image" title="3" msid="115764994" hostid="261" sizebytes="1688002"></div><br />Due to its curved display, rounded edges and glossy back, the phone is comfortable to hold and use with just one hand. However, it can also easily slide from your hand if you aren’t paying attention. Hence, it is best to always use it with the cover that comes packed with the phone.<br /><br />The phone’s display is a 6.78-inch FHD+ AMOLED panel with a 120Hz refresh rate, ensuring smooth scrolling and vivid colours, ideal for multimedia and gaming enthusiasts. This high refresh rate is excellent for gaming and general use, delivering a seamless experience. The phone can be used comfortably outdoors too, but a tad more brightness would have been even better.<br /><br /><div type="image" title="2" msid="115764963" hostid="261" sizebytes="1914142"></div><br /><br /><h2>iQOO Z9s Pro: Performance<br /></h2><br />Equipped with the <keyword id="21694334" type="General" weightage="20" keywordseo="Qualcomm-Snapdragon-7-Gen-3" source="keywords">Qualcomm Snapdragon 7 Gen 3</keyword> processor and up to 12GB of RAM, the Z9s Pro is a powerhouse in terms of performance.<br /><br />Everyday tasks and multitasking feel incredibly smooth, while gaming performance is also impressive. The phone could easily handle titles like Battlegrounds Mobile India and Call of Duty Mobile at high settings without a hitch. The cooling system helps prevent overheating during prolonged sessions, making it a reliable choice for gamers. The phone also includes virtual RAM expansion, giving it an edge in handling demanding applications.<br /><br />  <div type="image" title="1" msid="115765018" hostid="261" sizebytes="1900985"></div><br />Talking about the software, even though the phone offers a clean experience with customisable themes and settings, it does come with pre-installed apps, which may be a slight drawback for those who prefer a streamlined interface. The good news is that most of these can be uninstalled, and the UI is generally responsive with minimal lag.<br /><br /><h2>iQOO Z9s Pro: Camera<br /></h2><br />The Z9s Pro comes with a 50MP primary sensor and an 8MP ultra-wide lens in the back. The phone also sports a 16MP selfie camera. Overall, the camera performs well in good lighting conditions. Night-time photography too is decent for the price. <br /><br />In daylight, the primary camera captures crisp details and vibrant colours.<br /><br />  <div type="image" title="12" msid="115765082" hostid="261" sizebytes="1558728"></div><br />The front camera too performs well and captures your selfies in style. However, the edge detection might feel tad off at times. But this isn't a dealbreaker considering the price of the smartphone. <br /><br />  <div type="image" title="15" msid="115765094" hostid="261" sizebytes="833942"></div><br />  <br />The portrait shots from the rear camera are simply stunning.<br /><br />  <div type="image" title="16" msid="115765109" hostid="261" sizebytes="1266524"></div><br />I also used the Master B/W mode and the Vintage film mode and loved the results.<br /><br />  <div type="image" title="13" msid="115765126" hostid="261" sizebytes="2287590"></div><br />While the phone captures impressive detail and colours, the details start fizzling out when you zoom in. Even at 2x, the details start going a bit amiss and by 10x, the performance drop in camera is quite noticeable. But this isn’t a big concern.<br /><br />At night too, the phone can capture some decent shots for its price point. <br /><br /><h2>iQOO Z9s Pro: Battery and charging<br /></h2><br />With a 5,500mAh battery, the iQOO Z9s Pro easily lasts a full day of moderate usage. For heavy users, 80W fast charging comes in handy, taking the battery from 0 to around 50% in just 20 minutes. This quick top-up time is a big plus for those who are always on the go. The phone also comes with a charger in the box so you don’t have to buy one separately.<br /><br /><h2>iQOO Z9s Pro: Final verdict<br /></h2><br />  <div type="image" title="5" msid="115765350" hostid="261" sizebytes="1316258"></div><br />The iQOO Z9s Pro stands out in the mid-range segment with its powerful processor, smooth display, and decent camera setup. However, minor improvements in low-light camera performance and UI polish could enhance it further. For users focused on performance and gaming, this phone delivers robust value and is a worthy option in its price bracket.<br />

iQOO Z9s Pro review: Excellent performance in a budget

<ul><li>The global foldable smartphone shipments have declined by 1% in Q3 2024.</li><li>Samsung has emerged as the top company in foldable smartphone shipments in Q3 2024.</li><li>Samsung continues to account for over half of the market share, despite a huge decline in shipments.</li></ul>The global foldable smartphone shipments declined for the first time in Q1 2024, recording a 1% year-on-year decline. This marks the first decline for foldable smartphones in Q3.<br /><br />According to a report by Counterpoint Research, one of the factors for the decline in shipments was Samsung’s<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-review/articleshow/112497472.cms"> Galaxy Z Fold 6</a> and<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms"> Galaxy Z Flip 6</a> smartphones not performing as expected.<br /><br /><div type="Article" hostid="261" msid="112497472" title="Samsung Galaxy Z Fold 6 review – the complete package" mstype="2" mssubtype="0"></div><br />“The global foldable market appears to have entered a transitionary phase where it is facing challenges as it progresses from a niche segment to the mainstream. User satisfaction is particularly high with book-type foldable devices, but the prohibitively high prices remain the biggest obstacle to mass adoption,” said Jene Park, Senior Analyst, Counterpoint Research.<br /><br /><h2>Global foldable smartphone market share</h2><br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">56%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Huawei<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Honor<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motorola<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6%<br /><br /></td></tr></tbody></table><br /><em>Source: Counterpoint Research</em><br /><br />Samsung has emerged as the market leader in Q3 2024, with a market share of 56%, down from 70% in Q3 2023. While the company’s Galaxy Z Fold 6 performed decently, the Galaxy Z Flip 6 failed to match its predecessor’s sales. The company recorded a 21% year-on-year decline in shipments.<br /><br />Huawei has emerged second, with a 15% market share in Q3 2024, up from a 13% market share in Q3 2023. The company recorded a 23% year-on-year growth in shipments.<br /><br />Honor and Motorola take the third and fourth spots, with a 10% and a 7% market share respectively. Both companies have recorded good growth.<br /><br />While Honor has recorded a 121% year-on-year growth, Motorola has recorded a 164% year-on-year growth.<br /><br />Xiaomi is in the fifth position, with a 6% market share. The company recorded the highest year-on-year growth at 185%. This growth was driven by the Mix Flip, the company’s first clamshell smartphone.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a><br /><br /><a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms"><strong>Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</strong></a><br />

Global foldable phone shipments decline in Q3 2024, Samsung leads with 56% market share

The rupee rose 2 paise to 84.40 against the US dollar in early trade on Tuesday amid a recovery in domestic equity markets and a weaker American currency against major Asian rivals.  Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit and capped its sharp gain. <br /><br /> At the interbank foreign exchange, the rupee opened at 84.39 and slipped further to 84.40 against the greenback, trading 2 paise higher from its previous close. <br /><br /> On Monday, the rupee recovered from its lowest level of 84.46 to settle 4 paise higher at 84.42 against the US dollar. <br /><br /> Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.09 per cent at 106.10. <br /><br /> Brent crude, the global oil benchmark, rose by 0.19 per cent to USD 73.44 per barrel in futures trade. <br /><br /> On the domestic equity market front, Sensex was trading 271.42 points, or 0.35 per cent higher, at 77,610.43 points. The Nifty advanced 105.55 points, or 0.45 per cent, to 23,559.35 points. <br /><br /> <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 1,403.40 crore, according to exchange data.<br /><br /><b>SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank">Tata to buy a majority stake in Pegatron's iPhone plant in India</a><a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank">JioStar announces plans starting at ₹15 – here’s everything you need to know</a></b><br />

Rupee rises 2 paise to 84.40 against US dollar in early trade

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. <br /><br />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.<br /><br />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. <br /><br />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. <br /><br />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. <br /><br />"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. <br /><br />"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. <br /><br />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. <br /><br />"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. <br /><br />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

Indian banks are expected to have steady growth in earnings and returns over the next 3–4 years, according to a recent report by Jefferies. It expects a 13% compound annual growth rate (CAGR) in loan growth for banks between FY24 and FY27, helmed by a supportive environment and expected adjustments in interest rates.<br /><br />"We expect steady growth in earnings and stable returns, Over FY24-27, the banks we cover should see 13% CAGRin loans We factor 25-50 bps cut in rates, &amp; depending on timing, NIMs will move," the report said.<br /><br />Depending on the timing, these rate cuts could impact banks' <keyword id="20076541" type="General" weightage="20" keywordseo="net-interest-margins" source="keywords">net interest margins</keyword> (NIMs), which measure the difference between interest income generated and interest paid to depositors. The report also notes that banks' net interest income (NII), a critical metric that is reflective of how much a bank earns from its lending, could grow at a steady 12% CAGR, which would support overall earnings growth.<br /><br /><h2>Rate cuts probable next year</h2>Per SBI Mutual Fund's monthly outlook for November 2024, while markets were initially speculating possible rate reductions in December this year or February next year these chances now stand dampened due to two reasons. First, elevated CPI numbers in September, which stood at a nine-month high, underlined the stickiness of food inflation. Secondly, RBI governor Das recently highlighted his hawkish stance at a conference, stating that "rate cuts at this stage would be premature and risky’.<br /><br />The report further adds that February 2025, or even April, would be a better time to discuss repo rate cuts in India. Even <keyword id="19985925" type="General" weightage="20" keywordseo="bank-credit-growth" source="keywords">bank credit growth</keyword> has continued to outpace deposit growth for two years now. However, they seem to be inching closer in the recent past. For instance, in October 2024, while bank credit growth remained at 12.7%, the deposit growth rate followed closely at 11.8%. This also means that banks are witnessing an elevated bank credit-to-deposit ratio, standing at 77% in October.<br /><br /><h2>Risks in unsecured lending <br /></h2>However, Jefferies noted some areas of caution that could influence growth in other revenue streams, particularly fees. Growth in fees may be at risk due to expected declines in the disbursal of unsecured loans, which generally carry higher interest rates and generate higher fees for banks. October saw stress and defaults rising in the unsecured lending space, prompting the RBI to intervene. As a result, unsecured loans by banks have only grown by 12.1%, the lowest since the pandemic. <br /><br />Despite these risks, the report expects banks' return on assets (ROA) and return on equity (ROE) to remain healthy, underscoring the sector's stable profitability potential. <br /><br />The report also highlights that while the Nifty Banks index has risen by 19% over the past year, it has still underperformed the broader Nifty index, which delivered 27% returns in the same period. BSE Bankex has been along similar lines, generating returns worth 19% over one year. While the Nifty banks' index has a YTD (yield to date) of 7.63%, it continues to trail Nifty's YTD of 11.30%<br /><br />

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