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The Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) is likely to transfer approximately Rs 1000 billion to the <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> IN <keyword id="19965933" type="General" weightage="20" keywordseo="FY25" source="keywords">FY25</keyword> according to a report by Union Bank of India. The report highlights that RBI is anticipated to maintain a robust <keyword id="20047030" type="General" weightage="20" keywordseo="dividend" source="keywords">dividend</keyword> payout for the <keyword id="20093202" type="General" weightage="20" keywordseo="fiscal-year" source="keywords">fiscal year</keyword> 2025 (FY25). This projection represents a slight increase from Rs 874 billion transferred in the previous fiscal year. "The government has budgeted the FY25 dividend for RBI and PSU banks &amp; financial institutions at INR 1020bn, vis-a-vis INR 1044bn in FY24. In our view, a positive surprise is likely, similar to last year when initial budget estimate for overall dividend was only INR 480bn" said the report. Analysts in the report predict a potential positive surprise, akin to the previous fiscal year, when the initial budget estimate for dividends was significantly lower at INR 480 billion. Despite several factors influencing RBI's dividend calculation, such as <keyword id="21195402" type="General" weightage="20" keywordseo="interest-earnings" source="keywords">interest earnings</keyword> and foreign exchange (FX) gains, analysts predict a continuation of strong dividend figures. The majority of RBI's balance sheet, approximately 70 percent, consists of foreign currency assets, with another 20 per cent in domestic government bonds. Interest earnings from these securities are expected to range from Rs 1.5-1.7 trillion. Additionally, interest from liquidity operations has increased RBI's earnings, particularly as the banking system returned to a deficit mode from September 2023. While income gains of RBI from FX (Forex) sales decreased slightly due to lower sales volumes, they are expected to remain substantial despite a rise in the weighted average cost of <keyword id="20102143" type="General" weightage="20" keywordseo="reserves" source="keywords">reserves</keyword>. Moreover, a decline in provisions likely contributed to boosting RBI's dividend. Provisions for reserves, as per the Economic Capital Framework outlined by the Jalan committee, saw a rise in the contingency fund provision due to increased balance sheet growth. The impact of the RBI dividend announcement on markets may be limited in the near term, especially with ongoing elections potentially delaying government spending. However, if the surplus balance is utilized for activities like G-Sec buybacks, it could support the shorter end of the G-Sec curve. Overall, analysts maintain a positive outlook on longer-duration G-Secs due to favorable demand-supply dynamics. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a><a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank">IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli</a><a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a>

RBI likely to transfer ₹1 trillion to government in FY25

<keyword id="6359783" type="General" weightage="80" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> said its consolidated net profit increased 17.51% to Rs 2,020 crore for the September quarter with robust domestic performance driving record revenue. The Pune-based company had reported a consolidated net profit of Rs 1,719 crore in the year-ago period. Total income increased to Rs 11,207 crore for the second quarter of the current fiscal from Rs 10,537 crore a year ago, Bajaj Auto said in a regulatory filing. Bajaj Auto said its revenue from operations registered a new high of Rs 10,777 crore, up 6% year-on-year (YoY). In terms of volume, Bajaj said it sold a total of 10,53,953 units in the quarter under review, down 8% from 11,51,012 units in the year-ago period. Two-wheeler sales in the domestic market were down 19% to 5,05,320 units in Q2 as compared to 6,21,134 units in the year-ago period, while exports were at 3,76,263 units as against 3,97,900 units last year, down 5%. Total three-wheeler sales were at 1,72,370 units in the quarter under review as against 1,31,978 units in the corresponding period a year ago, up 31%. In the domestic market, the company said it clocked its highest-ever quarterly sales at 1,32,236 units as against 73,241 units last year, registering an increase of 81%. Addressing reporters in a virtual earnings call, Bajaj Auto Executive Director Rakesh Sharma said the company has been able to deliver "record breaking" performance in the midst of difficult international trading conditions. He said the drop in volumes of two-wheelers was due to the high base effect of the corresponding period last fiscal. Led by strong performance in the 125cc and above motorcycle segment, Sharma said Bajaj Auto has been able to increase its market share, which, along with better product mix, resulted in better revenue realisation. The domestic business registered a new peak, on the back of six successive quarters of double-digit growth, he added. On the company's electric two-wheeler brand <keyword id="409918" type="General" weightage="50" keywordseo="chetak" source="Orion">Chetak</keyword>, Sharma said after sorting out supply chain issues since March-April this year, Bajaj Auto has been able to increase its market share in the electric two-wheeler segment to 11% in Q2, up from 3% in FY23. The portfolio of the brand would also be expanded, he said, adding that the sales network of Chetak is present in 120 cities as against 90 in the previous quarter. Asked about the penetration of electric two-wheelers, he said it is at around 5% of the overall two-wheeler industry and in the September quarter, it has been "stuck" at monthly sales of about 65,000 units due to increase in prices after the reduction in FAME II subsidy. It has led to consolidation with the top-five players commanding 75% of the market as compared to 50% earlier and the bottom players have been weakened and severely hit. Sharma said one needs to wait and see how electric two-wheelers will grow in future as it will depend on the continuation or changes in the FAME scheme. Commenting on the performance of premium bike <keyword id="52525" type="General" weightage="50" keywordseo="triumph" source="Orion">Triumph</keyword>, he said it has been received extremely well in the market with the model clocking 8,000 units in the first one and half months of deliveries since August. Bajaj Auto will increase monthly production of the model to 10,000 units by the fourth quarter of FY24, up from 7,000 units currently. The company is also planning to start exports of Triumph bikes in the third quarter, while work on taking the brand experience to over 100 cities by the year end is on track from 26 currently, he added. Asked about the company's new launches, Sharma said there will be six upgrades and new launches in the 125 cc and above segment in the next four to five months starting after Diwali. On exports, he said a slow and steady recovery is expected considering the current global geopolitical situation and the difficulties in the financial system. Bajaj Auto said it sustained strong cash generation by adding over Rs 3,600 crore of free cash flow in the first half of the current fiscal. Shares of the company ended marginally up at 5,143.80 apiece on the BSE on Wednesday.

Bajaj Auto Q2 net profit rises 17% to Rs 2,020 crore

<ul class="summary-list"><li><keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> reported blowout earnings this week, but its biggest growth driver wasn't cars or robots.</li><li>Its energy business grew by over 50% year over year, earning Tesla over $7 billion in revenue so far in 2024.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> has a secret weapon, and it's not <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-empire-scrutiny-fsd-full-self-driving-2024-10">Elon Musk's robotaxi</a> or the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-optimus-robots-bartending-controlled-by-humans-2024-10">Optimus bot</a>. The company reported blowout earnings on <a target="_blank" class="" href="https://www.businessinsider.com/tesla-earnings-analyst-reactions-basics-selling-electric-vehicles-robotaxi-2024-10">the strength of its automotive sales</a> on Wednesday — but its biggest growth area was Tesla's burgeoning business selling batteries and solar panels, not electric cars. Revenue for Tesla's energy generation and storage business was nearly $2.4 billion in the third quarter of 2024, up 52% from the same period last year. That's a big jump compared to revenue from Tesla's automotive sales, which <a target="_blank" class="" href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf">rose by 2%</a> over the same period. The energy business's revenue so far this year exceeds $7 billion, meaning that it now accounts for nearly 10% of Tesla's total revenue. The segment primarily includes Tesla's sales of solar panels and its <a target="_blank" class="" href="https://www.businessinsider.com/tesla-announces-megapack-giant-new-battery-product-2019-7">Megapack</a> and <a target="_blank" class="" href="https://www.businessinsider.com/rechargeable-battery-options-compete-tesla-2017-5">Powerwall</a> battery storage systems. It typically garners less attention than flashy but less lucrative projects like <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-robotaxi-cybercab-tsla-fsd-elon-musk-ross-gerber-2024-10">Tesla's robotaxi and Optimus humanoid robots</a>. Still, it has fast become a vitally important source of income for the automaker. The growth of Tesla's energy business was noted by Musk in the company's Q3 earnings call on Wednesday, with the Tesla CEO describing it as a "gigantic opportunity" for the automaker. "The <keyword id="20368669" type="General" weightage="20" keywordseo="energy-storage" source="keywords">energy storage</keyword> business is growing like wildfire, with strong demand for both <keyword id="23762419" type="General" weightage="20" keywordseo="Megapack" source="keywords">Megapack</keyword> and <keyword id="23762420" type="General" weightage="20" keywordseo="Powerwall" source="keywords">Powerwall</keyword>," Musk said. The billionaire said that Tesla's Megapack factory in Lathrop, California, had hit an important production milestone of 200 units per week. <a target="_blank" href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf">Tesla also </a><a target="_blank" class="" href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf">told investors</a> that the company had installed a record number of Powerwall systems for the second quarter in a row. Tesla is also <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-plans-new-megapack-factory-in-china-2023-4">building a Megapack factory in Shanghai,</a> which is expected to begin mass production in the first quarter of 2025. Megapack is a commercial battery system used by grid providers to store energy and help avoid power outages. This is especially important as more providers switch to renewable energy sources that <a target="_blank" class="" href="https://www.businessinsider.com/biden-largest-federal-investment-ever-try-fix-power-grid-2023-10">can be more intermittent than fossil fuels</a>. Tesla says one Megapack can store over 3.9 MWh of energy, enough to power an average of 3,600 homes for one hour. The company sells them for around $1 million apiece. The Powerwall, meanwhile, is a home battery that allows customers to store energy generated by solar panels and use it to power their homes. <a target="_blank" class="" href="https://www.tesla.com/energy/design/overview">It costs around $16,000 </a>before incentives, and Tesla offers it in a package with the company's solar panels and "solar roof" product. Correction: October 25, 2024 — An earlier version of this story misstated the cost of a Megapack. One costs about $1 million, not $5 million.

Tesla's energy storage business was the highlight of its blowout earnings, and Elon Musk says it's 'growing like wildfire'

<keyword id="12986909" type="General" weightage="20" keywordseo="hitachi-energy-india-ltd" source="Orion">Hitachi Energy India Ltd</keyword> (HEIL) on Tuesday posted a 79.85% jump in net profit at ₹2.41 crore in the April-June quarter of 2023-24, on account of higher income. It had posted a net profit of ₹ 1.34 crore in the corresponding period of 2022-23, the company said in a regulatory filing. The total income also increased to ₹ 1,043 crore from ₹ 991.32 crore in the year-ago quarter. Expenses soared to ₹ 1,039.62 crore in the first quarter of FY24, as against ₹ 989.21 crore a year ago. In a separate statement, company's MD and CEO N Venu said: "We remain focused on balancing our operational complexity and efficiencies to preserve the growth momentum. "While persistent delays in chips and electronics led to lower revenue in the quarter, sustained operational excellence efforts provide visibility in the near-term." In the quarter ending June 30, 2023, the company received orders worth ₹ 1,147.5 crore, up 6 %year-on-year (y-o-y). Headquartered in Switzerland, Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. In India Hitachi Energy operates under the legal entity name Hitachi Energy India Limited (formerly known as ABB Power Products and Systems India Limited).

Hitachi Energy India June quarter net profit jumps 80% on higher income

<ul class="summary-list"><li>Nvidia stock soared 9% on Thursday to record highs after its reported earnings.</li><li>The company defied analyst expectations yet again, and said that demand for its AI chips continues to outstrip demand.</li></ul><a href="https://markets.businessinsider.com/stocks/nvda-stock?miRedirects=1">Nvidia</a> reported <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-q1-earnings-10-for-1-stock-split-2024-5">another blowout earnings report</a> in its first-quarter results, and its stock is soaring to record highs above $1,000 per share on Thursday. The company reported revenue and profit that surpassed analyst estimates and offered second-quarter revenue guidance that was well ahead of Wall Street's expectations. On top of that, <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-q1-earnings-10-for-1-stock-split-2024-5">the company announced a 10-for-1 stock split</a> and increased its quarterly dividend by 150% to $0.10 per share.Wall Street analysts were impressed by the results, with a slew of price target increases hitting the tape Thursday morning.Here's what Wall Street is saying about the report.<h3>Goldman Sachs: "New products to drive sustained growth in Data Center"</h3>Analysts at <a href="https://markets.businessinsider.com/stocks/gs-stock?miRedirects=1">Goldman Sachs</a> pointed out that the company delivered accelerated year-over-year revenue growth, with its Data Center business growing revenue at 427%."Most importantly, we believe pre-existing investor concerns related to a potential 'air pocket' in Data Center revenue in 2HCY24 will abate following yesterday's call, given a string of new product launches scheduled between now and year-end and management commentary pointing to sustained growth in H100 demand as well as the potential for supply tightness in the H200 and Blackwell generation of products," Goldman Sachs said.The bank rates Nvidia at "Buy" and raised its price target to $1,200 from $1,100.<h3>JPMorgan: "Demand continues to outstrip supply into CY25"</h3>Analysts at <a href="https://markets.businessinsider.com/stocks/jpm-stock?miRedirects=1">JPMorgan</a> said they were impressed that Nvidia is seeing more and more industries participate in the demand for its H100 AI chips. It's not just cloud companies like Meta and Amazon that are buying its chips, it's also sovereign nations and automobile companies, among others, driving the demand for its products."More importantly, the team noted that demand will continue to outstrip supply into CY25, and potentially easing fears of an inventory build/correction in the 2H of next year. The team was constructive on the sustained growth into CY25+ driven by transition to accelerated computing, proliferation of generative AI applications, strong enterprise/enterprise vertical penetration, and build-out of sovereign AI," JPMorgan said.JPMorgan rates Nvidia at "Overweight" and raised its price target to $1,150 from $850.<h3>Bank of America: "Now see $50+ EPS power in two years"</h3>Analysts at <a href="https://markets.businessinsider.com/stocks/bac-stock?miRedirects=1">Bank of America</a> said Nvidia's first-quarter earnings report suggests a smooth transition to the company's next-generation Blackwell chips, and that's going to lead to massive revenue gains.Nvidia has a "turnkey system design that we think can sustain 80%+ market share in AI accelerator market that could double YoY to ~$100 bn in CY24, and can double again to $200bn by CY27 and then $300bn+ by CY30," Bank of America said."Demand continues to exceed supply and this situation could persist at least through most of CY25E," the bank said.Analysts at the bank also said that despite Nvidia trading at record highs, it has $50+ earnings per share potential within the next two years, implying that the stock is trading at a reasonable valuation of about 20x price-to-earnings.Bank of America rates Nvidia at "Buy" and raised its price target to $1,320 from $1,100.<h3>Wedbush: "AI revolution just getting started"</h3>Analysts at Wedbush said the "AI gold rush" is just getting started as a "tidal wave" of spending on AI chips hits the entire tech sector."The Godfather of AI Jensen and Nvidia delivered another masterpiece quarter and guidance that should be hung in the Louvre in our view," Wedbush said. "Nvidia's GPU chips are in essence the new gold or oil in the tech sector as more enterprises and consumers quickly head down this path with the 4th Industrial Revolution well underway. The AI Revolution starts with Nvidia and in our view the AI party is just getting started with the popcorn getting ready."Wedbush rates Nvidia at "Outperform" with a $1,000 price target.

'AI revolution just getting started': Here's what Wall Street is saying about Nvidia's 1st-quarter earnings blowout

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/apple">Apple</a> rolled out long-awaited AI features to some iPhone and other users with its iOS 18.1 update.</li><li>Eligible owners must join a waitlist to access Apple Intelligence.</li></ul>Apple has begun rolling out its new artificial intelligence features to select users.The new software is officially available on iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1, months after the tech giant first announced Apple Intelligence at the <a target="_blank" class="" href="https://www.businessinsider.com/apple-wwdc-event-live-updates-keynote-announcements-2024-6">Worldwide Developers Conference</a>.Starting Monday, thowithave an iPhone 15 Pro or later model can acceseveral of AI-powered features when they update to iOS 18.1. Since the WWDC keynote in June, Apple has shown off tools that will change how many people use their iPhones.<h2 id="24348bec-2771-43d4-b99d-593666a6d548">These are the Apple Intelligence features out now</h2><div type="image" title="Apple WWDC 2024" height="1042" width="1874" msid="114701286" hostid="261" sizebytes="46572"></div>The first round of Apple Intelligence features includes a redesigned Siri, writing tools, summaries and smart replies, an updated Photos app, and a new focus mode.With iOS 18.1, Apple said Siri can field typed requests, answer "thousands of questions" about Apple products, and understand context better.Writing tools help proofread, summarize, and refine text across apps from Apple and third parties.Apple said the Photos app is becoming "more intelligent" to allow users to get more specific in their search for a picture or video. A clean-up tool is also available to remove unwanted elements from the background of images.There's also the memories feature in the Photos app. Users can put together movies with their own photos and videos with a simple prompt.In the Mail app, there's a new section for "priority messages" that have urgent subjects — Apple used same-day invitation and boarding passes as examples.Apple said new notification summaries will help users catch up on their group chats and smart reply can formulate quick responses. Meanwhile, the new reduce interruptions focus mode interprets which notifications are worth alerting while you're busy.<h2 id="8c60b98b-9487-4e49-84a0-4b5beb6a6aac">Here's how to get Apple Intelligence</h2><div type="image" title="Apple Intelligence and Siri screen on iPhone" height="720" width="760" msid="114701283" hostid="261" sizebytes="29372"></div>To ensure they get the features, iPhone owners must join a waitlist to request activation of Apple Intelligence. It can be found in the Settings app after upgrading to iOS 18.1.Apple has said its new software is "a personal intelligence system integrated deeply into your iPhone, apps, and Siri."Parts of the intelligence system are available in US English as of Monday, and Apple said support for English in Australia, Canada, New Zealand, South Africa, and the UK will come in December.<h2 id="8a4692d7-a721-46fe-b09c-0b0881fc3f6e">There's more to come in December.</h2>Apple's <a target="_blank" class="" href="https://www.businessinsider.com/apple-intelligence-features-rollout-timeline-iphone-16-2024-9">AI timeline</a> isn't exactly clear, but the company shed some light on the next drop.Genmojis, customizable AI-generated emojis, and image playground are among the features expected to become available in December. Apple said that writing tools and Siri will also get an upgrade in December with introduction of OpenAI's ChatGPT.In the months leading up to the September release of the iPhone 16, some analysts hailed Apple Intelligence as the spark that would set off a frenzy of smartphone upgrades.Dan Ives, a senior analyst at Wedbush Securities, predicted a "golden upgrade cycle."<a target="_blank" class="" href="https://www.businessinsider.com/apple-aapl-stock-quarterly-earnings-call-report-live-updates-2024-7#its-too-early-to-tell-if-apple-intelligence-is-leading-to-i-phone-upgrades">IPhone sales slowed in Q3</a>, and Apple CEO Tim Cook said it was too early to tell if AI would be enough to boost sales in the final quarter during the earnings call in August. Apple will report earnings on Thursday.

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RBI likely to transfer ₹1 trillion to government in FY25

ANI

Bajaj Auto Q2 net profit rises 17% to Rs 2,020 crore

PTI

Tesla's energy storage business was the highlight of its blowout earnings, and Elon Musk says it's 'growing like wildfire'

Tom Carter

Hitachi Energy India June quarter net profit jumps 80% on higher income

PTI

'AI revolution just getting started': Here's what Wall Street is saying about Nvidia's 1st-quarter earnings blowout

Matthew Fox

Apple Intelligence is finally here for some as part of the iOS 18.1 software update

Jordan Hart

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