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The combined holdings of domestic mutual funds and direct households in stocks have risen over 720 bps since 2015 whereas those of foreign portfolio investors (<keyword id="725142" type="General" weightage="80" keywordseo="fpi" source="Orion">FPI</keyword>)have declined about 230 bps, <keyword id="48670" type="General" weightage="80" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword> said in a report. The last quarter alone saw a near 90 bps rise in domestic ownership while FPI ownership of sample of 75 companies fell 84 bps QoQ. At 25.6 per cent ownership of <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s largest 75 companies, domestic investors are now larger holders than FPIs for the first time since 2010, the report said. Average sector positions went higher in the latest quarter led by domestic institutions albeit FPIs continue to run more active portfolios. FPIs are overweight on financials and lifted the relative position by 40 bps during the quarter after taking it down for five consecutive quarters. The position is still 540 bps below the peak of September 19. The biggest FPI selling happened in technology where they have gone underweight during the quarter, Morgan Stanley said. "FPIs are also underweight on consumer discretionary and industrials - distinct from our recommendations. While domestic institutions added to technology during the quarter, they remain underweight. They also added financials and consumer discretionary but are overweight on neither. They are overweight on communication services, consumer staples and utilities in divergence from our view.The only sector where we are in sync is industrials where we recently raised our weight," Morgan Stanley said. From among the top 20 aggregate institutional holdings, active positions (relative to the MSCI Index) rose the most for <keyword id="6357073" type="General" weightage="50" keywordseo="itc" source="Orion">ITC</keyword> and declined the most for <keyword id="10926" type="General" weightage="50" keywordseo="reliance" source="Orion">Reliance</keyword> during the QE June 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/dyson-v15-detect-review/amp_articleshow/93143117.cms">Dyson V15 Detect review: The best just got better, but at a premium - Business Insider India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbi-governors-recipe-for-banks-of-the-future-oodles-of-social-media-new-tech-a-dash-of-human-touch/articleshow/93138812.cms">RBI governor’s recipe for banks of the future: Oodles of social media, new tech &amp; a dash of human touch</a>

Domestic mutual funds, retail investors now bigger equity holders than FPIs: MS

New Delhi, Walt <keyword id="19899232" type="General" weightage="20" keywordseo="disney" source="keywords">Disney</keyword> CEO <keyword id="20023956" type="General" weightage="20" keywordseo="bob-iger" source="keywords">Bob Iger</keyword> has said a joint venture with <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> Industries after merging its <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> business would benefit the company in terms of profit and also "derisk" its business in the Indian market. The merger deal will create a big entity and help it to stay in the market at a "significant level", said Iger at a Morgan Stanley investor conference earlier this week. "We had an opportunity to align with Reliance, which is obviously the company that has done very well there and one that we respect. And in doing so, end up owning part of a bigger media company. And we believe that, that not only should benefit us in terms of the bottom-line, but derisk us as well there," he said. Last month, Walt Disney Co. and Reliance Industries announced signing of binding pacts to merge their media operations in India. Under the deal, Reliance and its affiliates will hold 63.16 per cent and Disney will have 36.84 per cent in the JV, which will create India's leading media company that will house two streaming services and around 120 television channels. "We wanted to stay in India. We made a big investment in India when we purchased the assets of 21st Century Fox. We are one of the biggest media companies in India. But even though it is the most populous country in the world, we felt we want to be there because of that, we also know that there are challenges in that market," he said. Iger said, the merger will create a big entity and help it to stay in the market at a "significant level". "So, it's kind of the best of both worlds. We stay in the market at a significant level. We have a very good partner in Reliance, and we get to have a chance of growing a business and lowering the risk of doing so," he added. The transaction values the joint venture at Rs 70,352 crore (USD 8.5 billion) on a post-money basis, excluding synergies. Billionaire Mukesh Ambani-led Reliance has also agreed to invest at closing Rs 11,500 crore into the joint venture to give it the muscle to fight rivals such as Japan's Sony, and Netflix. Its OTT platform Disney + Hotstar has seen its paid subscriber base decline from around 55 million to 40 million in the first quarter of FY24 because of Reliance's <keyword id="19985346" type="General" weightage="20" keywordseo="jio-cinema" source="keywords">Jio Cinema</keyword> winning exclusive rights for live sports. The combined entity will have the largest OTT subscriber base. Disney + Hotstar was launched in India in 2020, post the acquisition of the entertainment assets of 21st Century Fox at a valuation of USD 71.3 billion, thereby taking over the operations of Star India and Hotstar. It housed entertainment and cinema channels such as StarPlus and StarGold as well as sports channels like Star Sports. While Disney + Hotstar rapidly increased its subscriber base initially with the streaming rights of cricket matches (IPL, World Cup), it lost the bid for the digital streaming rights in 2023-27 cycle, which was won by Reliance-backed Viacom18 for USD 720 billion, 12.92 per cent higher than what Star India had paid on an average per match value. Media ventures of Reliance are currently housed in Network 18, which owns TV18 news channels as well as a plethora of entertainment (under the 'Colors' brand) and sports channels. NW18 also has stakes in moneycontrol.com, bookmyshow and publishes magazines. NW18 owns news channels CNBC/CNNNews. Reliance separately owns a movie production arm - JioStudios, and majority stakes in two listed cable distribution companies, Den and <keyword id="20777796" type="General" weightage="20" keywordseo="hathway" source="keywords">Hathway</keyword>. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-february-2024/slidelist/108323754.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-february-2024/slidelist/108323754.cms" target="_blank">Top selling cars in India in February 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-and-xiaomi-14-ultra-with-snapdragon-8-gen-3-launched-in-india/articleshow/108304169.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-and-xiaomi-14-ultra-with-snapdragon-8-gen-3-launched-in-india/articleshow/108304169.cms" target="_blank">Xiaomi 14 and Xiaomi 14 Ultra with Snapdragon 8 Gen 3 launched in India</a><a href="https://www.businessinsider.in/business/auto/news/retail-auto-sales-grow-by-13-in-february-but-elevated-inventory-levels-a-concern/articleshow/108289901.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/retail-auto-sales-grow-by-13-in-february-but-elevated-inventory-levels-a-concern/articleshow/108289901.cms" target="_blank">Retail auto sales grow by 13% in February, but elevated inventory levels a concern</a>

Merger with Reliance would boost company's profits and reduce risk in India: Disney CEO Bob Iger

<keyword id="19894961" type="General" weightage="20" keywordseo="apple" source="keywords">Apple</keyword>'s revenue in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> rose nearly 42 per cent (on-year) last year to $8.7 billion, foreign brokerage Morgan Stanley said in a report on Friday. According to the report, iPhone shipments grew about 39 per cent to 9.2 million units last year. "In CY23, India represented 4 per cent of iPhones shipments and revenue, up from 3 per cent in CY22 and 1 per cent 5 years ago," said analysts in the report. "If India continues to grow at the same trajectory while China iPhone shipments stay flat, India would be a bigger iPhone market than China by 2027," it added. TechCrunch was first to report on Apple India's 2023 revenue. Apple registered strong double-digit growth in the December quarter in India, reaching another quarter revenue record in the country, company's CEO <keyword id="19954680" type="General" weightage="20" keywordseo="tim-cook" source="keywords">Tim Cook</keyword> said earlier this month. Responding to an analyst's questions, <keyword id="19905938" type="General" weightage="20" keywordseo="cook" source="keywords">Cook</keyword> said that the India market "hit a quarter revenue record". India's smartphone shipments remained flat in 2023 at 152 million units, but Apple reached the 10-million-unit mark in shipments and captured the top position in revenue in a calendar year for the first time. In a bid to further boost mobile manufacturing in the country, the government in January slashed import duty on parts used for manufacturing of mobile phones to 10 per cent from 15 per cent. The move will help companies like Apple to manufacture more of its high-end premium smartphones in the country. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vis-subscriber-base-continues-to-decline/articleshow/107934565.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vis-subscriber-base-continues-to-decline/articleshow/107934565.cms" target="_blank">Reliance Jio and Airtel add subscribers as Vi’s subscriber base continues to decline</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-neo-9-pro-vs-oneplus-12r-which-mid-range-phone-should-you-buy/slidelist/107938249.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-neo-9-pro-vs-oneplus-12r-which-mid-range-phone-should-you-buy/slidelist/107938249.cms" target="_blank">iQOO Neo 9 Pro vs OnePlus 12R – which mid-range phone should you buy?</a><a href="https://www.businessinsider.in/tech/news/indian-pc-market-down-by-6-6-in-2023-hp-leads-the-market-while-acer-gains/articleshow/107906820.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indian-pc-market-down-by-6-6-in-2023-hp-leads-the-market-while-acer-gains/articleshow/107906820.cms" target="_blank">Indian PC market down by 6.6% in 2023, HP leads the market while Acer gains</a>

Apple's India revenue up 42% to $8.7 bn in 2023: Morgan Stanley

<ul><li><keyword id="15681942" type="General" weightage="40" keywordseo="chatgpt" source="Orion">ChatGPT</keyword> backed superbots are not the holy grail that can solve all problems of consumer companies. It took <keyword id="8939913" type="General" weightage="80" keywordseo="jio-haptik" source="Orion">Jio Haptik</keyword> six months to learn that these bots need to be schooled before they can be unleashed in the real world.</li><li>LLM backed bots are good for simple queries but are no good when they are expected to multitask.</li><li>For enterprises that want to improve customer satisfaction using bots, Haptik’s <keyword id="19728845" type="General" weightage="50" keywordseo="contakt" source="Orion">Contakt</keyword> has solved many of the challenges around data privacy and hallucination.</li></ul> When <keyword id="3169059" type="General" weightage="20" keywordseo="openai" source="Orion">OpenAI</keyword> launched ChatGPT a year ago, it was seen as a superbot that could slay any problem in a jiffy. Companies across the world went into a huddle to figure how they could unleash the superbot to address concerns of their respective customers. While companies were looking at ChatGPT’s use cases, many were quick to pronounce the death of CRM companies. Jio Haptik – a leader in conversational AI – also went into a huddle to figure out its own future after the launch of OpenAi’s ChatGPT. "Surprisingly, Haptik’s team realised that GPT is not a one-size-fits-all solution for all problems." Explains Swapan Rajdev, Haptik’s CTO and co-founder, “When GPT launched, it was perceived as this holy grail that could solve everything. As we started digging deeper, we realised it struggles with multitasking. If you give it a small task and give clear instructions, it will work very well. As more things get added it will get confused." Haptik decided to figure out a way for enterprises to ensure good customer experience using this new disruptive technology. Actual production grade scalable <keyword id="6373684" type="General" weightage="60" keywordseo="chatbots" source="Orion">chatbots</keyword> are not simple. GPT has ensured that bots can be conversational, but a lot more needs to be done to train them to solve problems in real time. Training a bot that can represent an enterprise means the bot has to undertake several tasks at the same time. One prompt, therefore, cannot answer different queries. Haptik has created an architecture using LLM to address customer engagements not just through the bot but also for contact centre agents who often struggle to understand a customer’s history and context in real time. What consumer companies don’t realise is that hallucination is a bigger problem than many envision. An LLM powered bot can hallucinate when it is asked a question it has not been trained to answer. Haptik decided to work on solving many such problems that would spring up while dealing with consumers. Privacy is one thing that rarely comes up when companies are looking to roll out LLM powered bots on their websites. If it is not trained properly, a superbot can possibly share existing data of customers too. Jio Haptik has spent the last six months finding ways to train this superbot so that guardrails are built around such LLM powered superbots. It has come up with a product (Contakt) that can help companies engage smartly with their consumers, but without the pain points. Artificial intelligence has been around for a while now and has been used by companies to address consumer queries. But in the past, CRM companies had to envisage and feed in potential questions and answers into the system. But it is hard to imagine every question that can be asked by individuals. Haptik’s Contakt can allow a sweep of the knowledge management system of companies to come up with a bot that is well trained to represent the company. Jio Haptik’s CEO &amp; co-founder, Aakrit Vaish, says: “AI has been key to customer experience but limitations of traditional, rule-based chatbots have often left customers frustrated. The launch of ChatGPT was truly a pivotal moment in our history as an industry, and now the technology finally exists to make world class CX a possibility. With Contakt, every brand can now have their own custom LLM assistant that delivers end-to-end customer experiences, starting at the pre-sales stage, driving transactions, and finally in post-sales engagement to unlock customer loyalty.” Powered by LLMs at every touchpoint, Contakt is designed to enhance the user experience throughout the customer lifecycle, enabling every brand to have a ChatGPT-like solution of their own. Contakt is more than a standalone solution that aims to streamline customer experience. It empowers customers with self-serve options and automation of routine tasks, and improves agent productivity with co-pilot offerings. Further, the suite’s analytics engine helps track bot and agent performance, and optimize for better customer outcomes with AI-powered recommendations. Contakt is well suited for pre-sales conversational buying guidance and for customer self-service. Its other interesting feature includes Agent Co-pilot for superior agent productivity, and Intelligent analytics to track and optimize metrics that truly matter. The platform’s self-serve support resolves a vast range of customer queries on its own and actively learns from customer conversations to provide natural and adaptive responses each time, enhancing the overall customer experience.Agent Co-pilot equips agents for better productivity and conversational assistance. It helps reduce query resolution time, query handling time, first-response time among other metrics for improved customer satisfaction.The analytics feature on Contakt allows businesses to create custom reports and dashboards, and get a comprehensive view of customer outcomes, including customer satisfaction score, query completion rate, and others. Commenting on the integrating GPT like capabilities into its sales function, Anand Thakur, Chief Product and Technology Officer at Reliance Retail, says: “The integration of ChatGPT-like capabilities into our web sales assistant will not only streamline the buying process but also elevate overall customer experience - turning window shoppers into buyers! We believe that this will play a pivotal role in shaping the future of retail tech, providing a unique and tailored experience for every Tira Beauty customer." The company is all set to launch its Generative AI Beauty Advisor chatbot on the Tira Beauty website with Jio Haptik. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/openai-exec-says-this-is-the-most-overhyped-and-underhyped-thing-about-ai-right-now/articleshow/105736434.cms" data-type="tilCustomLink" target="_blank">OpenAI exec says this is the most overhyped — and underhyped — thing about AI right now</a>

Chatbots hallucinate and get confused, says Jio Haptik which is ‘training’ them

<ul><li><keyword id="8372" type="General" weightage="100" keywordseo="akash" source="Orion">Akash</keyword> <keyword id="10924" type="General" weightage="80" keywordseo="ambani" source="Orion">Ambani</keyword> is the elder son of one of India’s richest businessmen Mukesh Ambani; and the only Indian to debut on Time Magazine’s Next 100 List. </li><li>During the 2022 Reliance Industries’ annual general meeting, he announced the launch of Jiofibre and virtual PCs. </li><li>Akash Ambani will head India’s largest telecom operator and is one of the heirs of <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s<a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/"> $80.5 billion empire</a>. </li></ul>He may have become the new boss of <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> – India’s largest telecom operator – recently, but Akash Ambani has been prepping for the top job from birth. As the grandson of <keyword id="6418409" type="General" weightage="50" keywordseo="dhirubhai-ambani" source="Orion">Dhirubhai Ambani</keyword> and son of Mukesh Ambani, the Junior Ambani has always had big shoes to fill, but he seems to be stepping into them quite effortlessly. He is also keeping the family tradition of breaking into lists by becoming the only Indian to enter the Time Magazine’s Next 100 list. Time’s Next 100 list essentially puts the spotlight on emerging leaders who are shaping the world of business, sports, finance, entertainment, politics, science, health, and activism. The list also features the likes of American singer SZA, actress Sydney Sweeney, basketball player Ja Morant, Spanish tennis player Carlos Alcaraz, actor and television personality <keyword id="945810" type="General" weightage="50" keywordseo="keke-palmer" source="Orion">Keke Palmer</keyword>, and environment activist Farwiza Farhan. Not surprisingly, the scion of the Ambani family has made it as an A-lister, given the mantle he holds as the Chairman of Reliance <keyword id="2003276" type="General" weightage="50" keywordseo="jio" source="Orion">Jio</keyword> with 426 million users. One of the heirs of <a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/">Mukesh Ambani’s $80.5 billion empire</a>, the 30-year-old has his work cut out, as the company looks to launch 5G services later this year. Akash is married to <keyword id="6296629" type="General" weightage="50" keywordseo="shloka-mehta" source="Orion">Shloka Mehta</keyword>, who hails from one of the richest diamond families of India. The Ambani family welcomed their first grandchild, <keyword id="10488859" type="General" weightage="50" keywordseo="prithvi-ambani" source="Orion">Prithvi Ambani</keyword>, in 2020. Reliance Jio has been touted as one of the fastest growing companies in the world and Akash has reportedly played a key role in bringing marquee investors and global giants like Facebook, Catterton, Silver Lake and General Atlantic to the company. Akash Ambani’s journey of becoming one of the most influential next-gen leaders began only four years ago, when he gave his first public address at the India Digital Open Summit. “Our chairman believes India is on a path to be a technology innovation leader and technology superpower. We are fortunate to be living in India, where we have a vision for Digital India. At Jio we believe AR/VR will grow at 50% CAGR for next 5 years,” said Akash Ambani, who was 26 years old at the time. On June 27 2022, Reliance Chairman Mukesh Ambani handed over the reins of the empire to his eldest son <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-steps-down-as-director-of-reliance-jio-akash-ambani-appointed-chairman/articleshow/92521472.cms">Akash Ambani</a>. Referring to the next generation Ambanis — Isha, Akash and Anant — Mukesh Ambani said at the company’s 45th annual general meeting, “All three have fully inherited our founder's mindset. They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance.” Akash Ambani’s ambitious plan to launch virtual PCs in India Reliance Jio Infocomm (RJIL), a subsidiary of RIL, is the largest telecom operator in India. From less than 700 professionals a few years ago, the RJIL team has grown rapidly to over 10,000 professionals today. “With 5G being rolled out in India, the current 800 million connected internet devices will double to 1.5 billion connected internet devices in just a year,” said Akash Ambani at the latest annual general meeting. The 30-year-old also announced the launch of ‘<a href="https://www.businessinsider.in/tech/enterprise/news/jio-airfiber-to-offer-cloud-pc-services-soon/articleshow/93857295.cms">virtual PC</a>’ through the launch of Jio AirFiber giving a boost to AI-enabled services in India. “5G gives ultra-high fibre-like speed over the air without any wires. We are calling it JioAirFiber. With JioAirFiber, it will be really easy to quickly connect your home or office to Gigabit-speed Internet,” he said. Investing ₹2 lakh crore, the next-generation Ambani will also head the implementation of 5G services in India – the latest version called standalone 5G sans dependence on 4G network. Challenges for Ambani junior while heading Reliance Reliance Jio offers its services at affordable tariffs, a dream that the founder of Reliance Industries had of offering telecom services at the rate of a postcard. While Akash Ambani’s father delivered on that promise, the 30-year old scion will have his job cut out as the company looks to launch its ambitious 5G services this Diwali. The company faces competition from the Sunil Mittal-helmed Airtel. Interestingly, Airtel is a professionally run company and both of Mittal’s sons pursue their own business interests. An avid sports nut Apart from heading the most ambitious projects in the world, Akash is known to have a keen interest in sports and premium cars. Akash’s first public appearance was at a Mumbai Indians cricket match as the company bought the team <a href="https://www.republicworld.com/sports-news/cricket-news/ipl-mega-auction-which-teams-were-sold-in-the-2008-inaugural-edition-and-at-what-prices.html">for $111.9 million back in 2008</a>. He is an avid cricket fan and can be seen regularly leading auctions to filter through the players for the Mumbai Indians IPL league. Ambani Junior is also a fan of the Arsenal football club. In 2016, he got to play in his private football area with Arsenal’s former forward Thierry Henry. Alongside sports, Akash has a legion of premium cars like Bentley Bentayga, Range <keyword id="5160615" type="General" weightage="50" keywordseo="rover-vogue" source="Orion">Rover Vogue</keyword>, BMW 5-Series, Lamborghini Urus, Rolls Royce Phantom Drophead Coupe and Maybach 62 to list a few. The passion for fancy wheels comes from both his parents. The road to living up to the name of “industry royalist” is long but Akash Ambani’s blueprint for Reliance is being closely watched by the world. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/9-in-10-indian-leaders-question-employees-productivity-in-hybrid-work/articleshow/94529650.cms">9 in 10 Indian leaders question employees' productivity in hybrid work</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-greens-54-rally-tempts-totalenergies-to-book-profits/articleshow/94529227.cms">Adani Green’s 54% rally this year tempts TotalEnergies to book profits</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/people-want-bigger-homes-and-reopening-offices-schools-hasnt-altered-this-trend/articleshow/94512938.cms">People want bigger homes and reopening offices, schools hasn’t altered this trend</a>

Akash Ambani’s keeping up the family tradition of breaking into global lists

<ul><li><keyword id="111876" type="General" weightage="20" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> market cap stock overtakes that of SBI after the reports.</li><li>Indian financial services company <keyword id="85462" type="General" weightage="20" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> got <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword> nod to start a mutual fund business.</li><li>The news triggered the shares of Bajaj Finserv and its subsidiary Bajaj Finance to become the top two gainers on the Nifty 50 index.</li><li>The market capitalisation of Bajaj Finance reached ₹4.22 lakh crore while that of Bajaj Finserv stood at ₹2.61 lakh crore.</li></ul>Shares of financial services companies Bajaj Finserv and Bajaj Finance surged as the former received the market regulator’s nod to start a mutual fund business. The shares of Bajaj Finserv reached its one year high of ₹16,584. The company had filed the application on September 28, 2020 to market regulator Securities and Exchange Board of India (SEBI). Bajaj Finance is the subsidiary of Bajaj Finserv. “The Company would be setting up an asset management company and the trustee company, directly or indirectly i.e., itself or through its subsidiary in accordance with applicable SEBI Regulations and other applicable laws,” said Bajaj Finserv in an exchange filing. Another financial services company Zerodha is also waiting for the regulator’s nod to launch a mutual fund business. Frontline Capital Services, Wizemarkets Analytics, Unifi Capital, Alchemy Capital Management and Helios Capital Management are some other companies in line waiting for SEBI’s approval. The ₹35 lakh crore <keyword id="35476" type="General" weightage="20" keywordseo="mutual-fund-industry" source="Orion">mutual fund industry</keyword> has 44 mutual fund houses with HDFC Mutual Fund and SBI Mutual Fund being the top two asset management companies. <div type="image" title="Bajaj finance 2" height="900" width="1200" msid="85589505" hostid="261"></div> Shares of Bajaj Finserv’s subsidiary Bajaj Finance gained 4% on the news to reach a 52 week high of ₹7,049. Moreover, the market capitalisation of the company went up to ₹4.22 lakh crore crossing India’s biggest lender State Bank of India’s market cap of ₹3.71 lakh crore. <div type="image" title="Bajaj finance" height="900" width="1200" msid="85589515" hostid="261"></div> Bajaj Finance and Bajaj Finserv were among the top two gainers on the Nifty 50 index today. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-loses-over-4-million-subscribers-airtel-and-jio-add-over-9-million-in-june/articleshow/85589113.cms">Vodafone Idea loses over 4 million subscribers, Airtel and Jio add over 9 million in June</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-mining-in-iran-easing-but-china-maintain-strict-stance/articleshow/85588848.cms">Iran is bringing back cryptocurrency mining, but China shows no signs of changing its mind</a>

Bajaj Finance gets bigger than SBI after SEBI allows parent Bajaj Finserv to sell mutual funds

<ul><li>Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>.</li><li>Part of the sell-off in <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> could also be a reflection of the market mood.</li><li>But, there is a lot more that the street is worried about.</li><li>Founder <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> wants the market to be excited about Paytm as a superapp but many others have argued that a smartphone itself is a super app.</li><li>Check out the latest news and updates on<a href="https://www.businessinsider.in/stock-market"> Business Insider</a>.</li></ul>Two of India’s most-awaited tech IPOs, that of Zomato and Paytm, came with a lot of anxiety around the price at which the shares were being sold to the first lot of public investors. Zomato still made some money for those who got the shares in the initial public offering (IPO) but those who got shares in the Paytm IPO have lost 27% on the opening day. By noon, Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant Paytm. The overall market mood played a role in pushing down Paytm’s share price, Deven Choksey, managing director of KR Choksey Shares and Securities, told Business Insider. The sell-off seen earlier in the week intensified on Thursday (the day of Paytm’s market Debut) and 42 out of the Nifty 50 stocks were in the red. But that’s not the only reason why people sold Paytm shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation pre-IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valution sought in IPO</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap, as on November 18 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.8 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.1 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,21,731 crore ($16.3 billion) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$19.9 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,01,399 crore ($13.6 billion) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Companies, BSE It’s not that Paytm's advisors didn't see it coming. According to a Bloomberg report <a href="https://www.businessinsider.in/business/news/paytm-may-drop-its-pre-ipo-sale-as-advisors-recommend-lower-valuation/articleshow/87187525.cms">published in October</a>, Paytm was advised to go for a lower valuation than $20 billion in its pre-IPO round but the company decided to skip the round altogether. Even stock brokerage firm Macquarie had given Paytm a with an underperform rating, and projected that the stock may fall to as much as ₹1,200 (compared to an issue price of ₹2,150) any time in the next one year . Interestingly, Paytm was the highest valued Indian startup between 2019 to me this year. The company got a valuation of $19.9 billion in its public issue. The only smile that Paytm believers could steal was thanks to the meme fest on Twitter. <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778007" hostid="261"></div> The drop in Paytm’s share price led to a fall of the stock market. “Today’s fall in the market is also largely due to collateral damage, Paytm loss to investors,” Deven Choksey, managing director of KRChoksey Shares and Securities said. Manoj Dalmia, founder and director of Proficient Equities Private Limited also highlighted three reasons behind Paytm’s weak listing on the stock exchange. The issue ranges from high valuation to intense competition. These are some of the issues pointed out by Manoj Dalmia of Proficient Equities, Scenes by Avalon’s Shashank Udupa, TaxationHelp.in’s Neha Nagar <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reason </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overvaluation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The company is overvalued at a Price to Sales (P/S) value of 26 compared to its global peers, who have a P/S of 0.3-0.5 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Limited promoters in India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nearly 75% of the promoters of Paytm are from other countries and are selling shares worth ₹10,000 crore, which is more than 50% of the issue. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not a market leader </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm is not a market leader in any business it operates in. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Analyst rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falling grey market premium and Macquarie's downrating has pushed the stock into a downward momentum. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lack of focused business model </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">It is present in all over the Fintech space but not doing well in any of them while the competition is rising from players like Google, Amazon, PhonePe. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Dalmia is not alone in his pessimism around Paytm’s near-term prospects. “Dabbling in multiple business lines inhibits PayTM from being a category leader in any business except wallets, which are becoming inconsequential with the meteoric rise in UPI payments. Competition and regulation will drive down unit economics and/or growth prospects in the medium term in our view,” Macquarie Research analysts Suresh Ganapathy and Param Subramanian said. ALSO WATCH: Even the biggest of conglomerates find it difficult to do more than two things right, market expert Saurabh Mukherjea told Business Insider. <div type="Youtube" id="kSf5f3gXjKg" title="A ₹3,000-crore fund manager explains why he won&amp;#39;t buy RIL, why he sold ITC and bought HDFC Life" thumbUrl="https://i.ytimg.com/vi/kSf5f3gXjKg/mqdefault.jpg"></div> Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks.The company has 333 million total customers, 114 million annual transacting users and 21 million registered merchants. Paytm has a strong market share in digital payments via the unified payments interface (UPI) but the margin is zero in peer-to-peer payments and wafer thin when merchants get paid. In the personal finance space ⁠— where Paytm sells mutual funds, gold and stocks ⁠— it has a less than 1% market share and makes zero commission, according to Macquarie. In insurance, only one out of 100 policies are sold online and Paytm is pitted against an early bird like Policybazaar as well as legacy banks, which dominate the space. Paytm aims to make money from its lending business. “Since Paytm will largely be engaged in selling down these loans to partner banks or NBFCs (non-banking financial companies) balance sheets, the addressable fee pool is much lower,” said Macquarie, which pegged the potential market for buy now, pay later schemes to be anywhere between $45 billion and $50 billion by March 2026. <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778072" hostid="261"></div> Despite a massive user base, the company’s revenue has been marginally declining on a year-on-year (YoY) basis. The company reported a revenue of ₹3,186 crore, with net loss of ₹1,761 crore. “Loss-making businesses will find it hard to sustain premium valuations,” Choksey added. Ravi Singh, head of research and vice president at ShareIndia, noted that Paytm’s future growth is a key to watch for long term investors. “We advise the investors after looking at the overall valuations and earlier losses of Paytm, to book their positions and wait for 1700-1600 levels for fresh investment. Retail investors may remain cautious as the overall market is in profit booking zone pushing maximum stocks in downside territory,” he added. <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778081" hostid="261"></div> “People ask me how do you raise money at such a high price? I say, I don’t raise money on a price but I raise money on a purpose,” founder and chief executive officer Vijay Shekhar Sharma. He wanted India to be as excited about his dream of a super app for anything that can be bought and sold online. But many others have argued that a smartphone itself is a super app. Another startup founder Kavin Mittal, the man behind the $1.4 billion Hike Messenger, had similar ambitions but found it to be a misguided goal and dropped the plan in January 2021. Will Sharma prove his detractors wrong with Paytm? Only time will tell. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/paytm-ipo-listed-at-discount-of-9-starts-trading-at-1955/articleshow/87772082.cms" data-type="tilCustomLink">India’s biggest IPO lists 9% below the IPO price and it may fall even further, warn analysts</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms">Paytm is likely to list below IPO price and experts advice serious investors to wait a while before buying</a> <a href="https://www.businessinsider.in/business/corporates/news/itc-reportedly-plans-to-spin-out-it-business-itc-infotech/articleshow/87758056.cms">ITC has a ₹2,500 crore IT business hiding in plain sight and that makes the street go Yippee!</a>

Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp

Investment experts have projected a positive turnaround for the ITC stock with 41 out of 43 analysts on Bloomberg giving a "buy" or "Hold" call for the stock. As per JM Financial, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's. ITC in FY30 could clock an FMCG EBITDA that is higher than the combined FY20 EBITDA of Nestle India, Britannia, Tata Consumer, JM Financial said. It said that ITC's FMCG segment is possibly one of the most under-appreciated businesses in the Indian consumer space in recent times. "We suspect the market may not have taken a holistic look yet; our understanding of Indian consumer categories tells us that ITC FMCG today addresses market opportunities that are Rs 2.1 trillion ($ 28 billion) in size in aggregate. Even if one excludes a couple of nascent Dairy products from the portfolio, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's," it added. "Profitability is low at present, but we reckon that with investment-phase largely done (though some new categories are still in incubation stages), profits and cash-generation would get much bigger here onwards," the report said. As per Centrum Broking, "In our deep dive analysis into ITC's foods business we conclude that it is at the cusp of a take-off both in terms of top-line and margins." "ITC is emerging as a foods company, more comparable to Nestle than HUL. Branded packed food consistently gaining saliency given the management focus (saliency increased from 71 per cent of other FMCG in FY14 to 81 per cent in FY20)," it added. It is the only company which has successful brands from staples (Aashirvaad) to RTC and RTE (Sunfeast, Bingo, Yippee etc.). ITC has made consistent investments in brand building over the past decade helping create brands across the branded packed food categories from staples a and dairy to RTC and RTE. Aashirvaad, Sunfeast, Bingo and Yippee now account for Rs 60 billion, 40 billion, 27 billion and 13 billion in consumer spend terms. As per BNP Paribas, there is a faster than expected recovery in ITC's cigarette business. The catalyst for ITC is a faster than expected recovery in cigarette volumes and higher than expected margin expansion in the FMCG business. As per B&amp;K Securities, a turnaround in cigarette volumes is expected from September onwards. "We believe the gradual lifting of start/stop lockdowns in most states, opening up of bars/clubs in some states and more attendance in offices due to lesser fears from Covid-19 will lead to the marginal smoker slowly coming back. Given the fact that 30 per cent of the smokers' user base comprises of non-regular smokers who have been impacted by the start/stop lockdowns, we feel the industry figures will start looking up from September 2020," it added. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/stocks-to-watch-sbi-ril-hero-moto-future-group-sun-pharma-vodafone-idea-berger-paints-and-ntpc/articleshow/78356485.cms" data-type="tilCustomLink">Top stocks to watch— SBI, RIL, Hero Moto, NTPC, Sun Pharma, Vodafone Idea, Berger Paints and others</a> <a href="https://www.businessinsider.in/politics/world/news/the-most-shocking-revelations-from-the-new-york-times-report-about-trumps-tax-returns/articleshow/78355707.cms" data-type="tilCustomLink">The most shocking revelations from The New York Times report about Trump's tax returns</a>

Investment experts bullish on ITC, expect a positive turnaround ahead

<keyword id="6357073" type="DOMAIN" weightage="20" keywordseo="ITC">ITC</keyword> Limited has informed the <keyword id="6402868" type="COMPANY" weightage="20" keywordseo="stock-exchanges">stock exchanges</keyword> that news with regard to a potential demerger of the company is "speculative in nature". "We write to advise that the news item under reference is speculative in nature," the ITC said in a filing with reference to the news item in a TV channel. "We draw your attention that if and when there is any material development with respect to the affairs of the Company, the Stock Exchanges are kept advised, pursuant to <keyword id="163506" type="ORGANIZATION" weightage="20" keywordseo="regulation">Regulation</keyword> 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the Company's Policy for determination of materiality of events and information for disclosure to the Stock Exchanges," the ITC said. As per reports, ITC is readying a demerger plan with a big unlocking of value for shareholders. After ITC Demerger, there would emerge as many as three companies namely hotels, <keyword id="34523" type="COMPANY" weightage="20" keywordseo="fmcg">FMCG</keyword> and <keyword id="35554" type="COMPANY" weightage="20" keywordseo="infotech">infotech</keyword>, as per reports. The Board Meet of ITC will happen in April where the management will discuss the demerger. This is a long term process and the company has been working on it since long and now seems that it is in the final stages of getting demerged, the report said. Investment Bankers have also started working on demerger. Paper, <keyword id="62486" type="LOCATION" weightage="20" keywordseo="Textiles">Textiles</keyword>, Cigarettes and other FMCG companies will be a flagship company and other two businesses, hotels and Infotech, will be separate businesses, the reports said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-adds-3-times-more-subscribers-than-reliance-jio-vodafone-idea-turns-positive-for-the-first-time-in-15-months/articleshow/81562851.cms">Airtel adds 3 times more subscribers than Jio while Vodafone Idea gets net addition first time in 15 months</a>

ITC  inform stock exchanges that reports of demerger are 'speculative'

Reiterating his vision to help <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> join the digital bandwagon, Alphabet and Google CEO <keyword id="164502" type="General" weightage="20" keywordseo="sundar-pichai" source="Orion">Sundar Pichai</keyword> has said the ongoing investments are a reflection of the company's confidence in the future of the country and its digital economy. The company, which announced a $10 billion Google for <keyword id="9566294" type="General" weightage="20" keywordseo="india-digitisation-fund" source="Orion">India Digitisation Fund</keyword> last year, has already invested $4.5 billion for a 7.73 per cent stake in the top telecom network <keyword id="9161648" type="General" weightage="20" keywordseo="reliance-jio-platforms" source="Orion">Reliance Jio Platforms</keyword>, along with recently investing up to $1 billion in Bharti Airtel. "It is a reflection of our confidence in the future of India, its digital economy, our desire to build products there, which we think will help us globally," <keyword id="1604185" type="General" weightage="100" keywordseo="pichai" source="Orion">Pichai</keyword> said during the company's earnings call late on Tuesday. On the company's payment strategy, Pichai said it is thinking deeper about emerging markets like India as it "lines up with our mission of building a more equitable Internet for everyone". Pichai is also bullish on YouTube's future in the country. "When I look at YouTube in India, some of the commerce ideas we talked about earlier, you may see as the first stride in India first because we can get quicker feedback, a very dynamic, youthful population," he noted. "So we'll do it there (in India) and then roll it out globally. We are constantly looking for opportunities like that," Pichai added. YouTube Shorts continues to drive significant engagement for the company globally including in India. "We just hit 5 trillion all-time views and have over 15 billion views each day globally. This is helping our creator community reach newer and bigger audiences," Pichai added. "In 2022, we'll stay focused on evolving our knowledge and information products, including Search, Maps and YouTube, to be even more helpful," he added. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-2-lite-5g-with-5000mah-battery-snapdragon-695-and-an-affordable-price-tag-to-launch-in-india/articleshow/89291372.cms">OnePlus Nord CE 2 Lite 5G with 5,000mAh battery, Snapdragon 695 and an affordable price tag to launch in India</a> <a href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">More employees are leaving Tech Mahindra than TCS and Wipro</a> <a href="https://www.businessinsider.in/tech/news/here-are-the-main-areas-where-technology-took-a-big-role-in-the-union-budget-2022/slidelist/89279470.cms">All things tech in Nirmala Sitharaman's budget speech</a>

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Bajaj Finance gets bigger than SBI after SEBI allows parent Bajaj Finserv to sell mutual funds

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