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Newsletter | Satya Nadella urges focus on cybersecurity; Titan shares fall most since 2020 & more
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
From Microsoft CEO Satya Nadella urging focus on cybersecurity to Titan shares falling the most since 2020, here are the top 11 news stories across business, global events, tech, and more.
Here are the top 11 news stories across business, global events, tech, and more —
#LatestNews⚡
Rekha Jhunjhunwala’s biggest stock bet falls most since 2020 but analysts advice ‘buying the dip’
Titan Company Ltd., Rekha Jhunjhunwala’s biggest stock bet, reported a miss in consensus earnings driven by weaker jewellery margins for two consecutive quarters. Whereas jewellery topline growth was healthy at 20%, the margin miss is a factor of high competition and higher gold mix in studded sales, analysts said.
Global brokerage firm Jefferies in a note said the commentary on margin was a bit subdued, but it likes the management’s excessive focus on growth.Jefferies, which has a ‘hold’ rating and a target price of ₹3,500 per share on the counter, said that Titan’s share price will trade weak today. The brokerage expects the Titan Company stock to stay rangebound in the near term.
Microsoft CEO urges focus on cybersecurity amid rising hacking concerns — Read the full memo here
In response to mounting criticism over its handling of several significant cyberattacks, Microsoft Corp. CEO Satya Nadella issued a direct message to employees, emphasising the paramount importance of cybersecurity.
Nadella’s companywide memo underscored a clear directive: prioritise security above all else, even if it means sacrificing other objectives, The Verge reported on Friday. He emphasised that safeguarding against cyber threats must take precedence over pursuits such as rolling out new features or maintaining outdated systems.
VIEW | Why India is truly poised to become a global economic powerhouse?
A decade back, India was the 10th largest economy in the world. However, today, with a $4.11 trillion GDP, we are aiming to be the 3rd largest by 2030. As someone who has actively witnessed the country’s economy flourish, especially over the last decade, I am inspired by the dynamism of the Indian economy.
Today, as we stand at the precipice of a new era, it is evident that India’s resilient economy is poised to propel the nation even further towards prosperity. At the heart of India’s robust economic stability lie several growth drivers, each running on full steam to power the nation’s upward trajectory. So, what are these growth pillars? In my opinion, the critical areas are infrastructure, digital ecosystem, rising middle-income & progressive reforms. Let’s delve a bit on how these pillars are enabling India leapfrog from ‘Good’ to
‘Great’.
#TechTalks📱
Apple aims to tell an AI story without AI bills
For most of the past year and a half, Apple Chief Executive Tim Cook has fielded questions from Wall Street analysts about his plans for artificial intelligence amid grumbling that the iPhone maker has no AI story to tell.
After the company reported quarterly earnings on Thursday, Cook insisted that Apple will have concrete details about its plans for AI to talk about very soon.
“We continue to feel very bullish about our opportunity in generative AI and we’re making significant investments,” Cook told Reuters in an interview, noting the company has spent $100 billion over the past five years on research and development.
WhatsApp banned about 8 million Indian accounts in March 2024
WhatsApp on Wednesday said that between March 1 and 31, 2024, it banned over 7.9 million Indian accounts. Notably, about 1.4 million of these accounts were proactively banned before receiving any user reports, the company said in its monthly report published under the IT rules, 2021.
The platform identifies Indian users through their +91 phone numbers. In March 2024, WhatsApp said it received a total of 12,782 grievances. Notably, 11 reports from users triggered action from the platform. Furthermore, the Grievance Appellate Committee (GAC), established by the Government of India to address citizen concerns on social media platforms, submitted eight reports to WhatsApp. The company complied with all five GAC reports.
#DailyData📈
#LokSabhaPolls2024👆
PM Modi visits Ram Mandir for first time since ‘Pran Pratishtha’, offers prayers before roadshow
Prime Minister Narendra Modi on Sunday May 5 offered prayers at the Ram temple in Ayodhya before he began a roadshow in the holy town. “This is Prime Minister Narendra Modi’s first visit to the Ram temple in Ayodhya after the ‘pran pratishtha’ (consecration) ceremony held on January 22,” VHP media in-charge Sharad Sharma told PTI.
PM Modi in a post on social media platform X shared a video of his visit. “At Ayodhya, prayed to Prabhu Shri Ram for the well being of my fellow 140 crore Indians,” he wrote.
The entrance gates to the temple were decorated with flowers, with ‘Om’ formed with yellow petals. Replicas of a bow and an arrow made using flowers were also seen at various places. According to the Shri Ram Janmabhoomi Teerth Kshetra, Ram Lalla seated in the temple wore a light pink attire on Sunday.
Andhra Pradesh: Kuppam loyalty test for TDP chief Chandrababu Naidu
Kuppam Assembly constituency in Andhra Pradesh, the hometurf of Telugu Desam Party supremo N Chandrababu Naidu, is witnessing an unprecedented political upheaval as the unshakable loyalty of its residents towards Naidu and his party is being put to the test by the magnetic pull of the incumbent government’s welfare schemes.
This tug-of-war between steadfast party loyalties and the tempting promise of populist benefits has left the TDP in a panic, making it desperately re-strategise to hold on to a bastion that is suddenly teetering. In 2019, alarm bells rang as Naidu’s vote share plunged to 55.18% – his worst-ever showing in a place that had handed him resounding mandates since 1989.
#StartupsWorld🌍
A Delhi couple with ₹16 lakh govt grant to make biodegradable pens is now inviting bigger peers
Saurabh and Shivani Mehta’s startup, NOTE (No offence to Earth), began research on biodegradable pens in 2019 and made a breakthrough this year.
Now, they have a ₹16 lakh government grant, under the Startup India programme, and a product ready for launch on World Environment Day (June 5). “We need to collaborate with bigger players. If ball pen makers with bigger manufacturing capacities and distribution collaborate with us, we can solve the problem faster,” Saurabh, an engineer from Bharatiya Vidyapeeth in New Delhi, said.
Former BharatPe COO led Eternal Capital launches ₹240 crore VC fund
Bharatpe’s former Chief Operating Officer (COO) Dhruv Dhanraj Bahl has launched a venture capital fund called Eternal Capital, with a target corpus of ₹240 crore, which includes a greenshoe option of ₹120 crore. Sector-agnostic in nature, the fund aims to build a diversified portfolio of “solutions for the future”, and plans to invest in 40 start-ups in their seed to pre-series stages, over the next 3 years.
Dhruv Bahl, the founder and Managing Partner of the firm said, “We have identified about six companies where we are investing. We have a primary co-invest model so we have got great partners with whom we are entering these organisations at sort of a pre-series A stage. We are ₹120 crore fund, and have received commitments for about 90% of the fund, we plan to start deploying funds in the first week of June. We are going through the regulatory paperwork that is required for us to enable these investments to go through.”
#Podcasts▶
In this episode of The Climate Clock podcast, Sonal Bhutra along with Jai Dhar Gupta, Founder & CEO of Nirvana Being, explores the vital issue of air pollution and the transformative power of technology in mitigating its effects.
#PersonalFinance💰
How to build a corpus of ₹2 crore with monthly investments
Retirement planning is essential for enjoying the golden years of your life without any stress. Saving money is not enough and investing it responsibly is extremely crucial for creating a sizeable corpus. With the advent of new-age investing philosophies many people plan to retire in their fifties. Mutual funds help conservative investors to put their money in equity instruments without directly getting exposed to the market volatility. If you are looking forward to building a corpus fund with regular investment of small amounts, you can choose mutual fund SIPs (Systematic Investment Plans).
This fund manager is bullish on small and mid-cap funds for the long term
Small-cap funds witnessed a small redemption after almost 30 months of inflows in March 2024, while mid-cap funds saw a significant drop in inflows. Regulatory concerns, geopolitical tensions, and a stellar equity rally prompted some investors to engage in profit-taking or reallocate funds towards more stable large-cap investments.
However, Sumit Bhatnagar, Fund Manager – Equity, LIC Mutual Fund Asset Management, advised against extrapolating a trend from this one-month data.
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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
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