Month: February 2023

Budget 2023: The stocks to watch out for during the Finance Minister’s speech

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Finance Minister Nirmala Sitharaman will present her Union Budget 2023 on February 1 at 11 AM. The Budget this time is expected to focus on increase in capex for roads and railways.

There is an expectation of a 10-15 percent hike in spending for roads and railways to Rs 2.1 lakh crore. This could bring to the limelight stocks like Larsen & Toubro, IRB Infrastructure Developers, Ashoka Buildcon along with smaller names like KNR Constructions.

Railways is also a key focus area for the government. In the current financial year, the railways had a budgeted spend of Rs 1.37 lakh crore that is expected to rise to Rs 1.6 lakh crore for the next financial year. The stocks to watch would be names like RVNL, Jindal Steel and Power and Siemens.

Along with L&T, higher infrastructure spends could mean more orders for companies like ABB India and Thermax.

Read Here | Budget 2023 needs to be micro-focused on capex and infrastructure spending: USISPF

Within defence, the capital outlay on defence services was Rs 1.52 lakh crore in the current financial year and it’s expected to rise to Rs 1.78 lakh crore in the next. A broad government defence push would aid stocks like Hindustan Aeronautics, Bharat Forge and Bharat Electronics.

The next sector to watch is power as the focus shifts to growth in renewables and energy transition. Clarity is expected on the incentives for hydrogen missions and coal gasification. However, the expected beneficiaries are Reliance Industries, NTPC, and Tata Power.

Any incremental incentives or subsidies for electric vehicles could boost names like Tata Motors.

The Finance Ministry will move ahead with the already-announced and planned privatisation of State-owned companies in the next fiscal, and the chances of new addition to that list of CPSEs in the Budget for 2023-24 is unlikely.

Read Here | Budget 2023 Expectations Highlights: IMA puts forward demands ahead of budget presentation

However, keep an eye out for the privatisation candidates. Brokerage firm Jefferies says: IDBI Bank and Container Corporation of India (CONCOR) are in the relatively advanced stage of the process and could conclude in next financial year.

Finally, since it is the final Budget before the general elections, any populist measures are to be watched for in the consumption space. Additional rural schemes similar to Mahatma Gandhi National Rural Employment Guarantee Act 2005 or MNREGA, minimum support price (MSP) hikes could be expected which will result in more money in the hands of rural and low-income generating people. This would benefit consumption names like Hindustan Unilever, Dabur, Britannia etc.

Follow CNBC-TV18’s live coverage on Budget 2019 here

For our exclusive coverage and all budget-related stories, click here

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ChatGPT owner OpenAI launches ‘imperfect’ tool to detect AI-generated text

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

OpenAI, which released the viral ChatGPT chatbot last year, unveiled a tool that’s intended to help show if text has been authored by an artificial intelligence program and passed off as human.

The tool will flag content written by OpenAI’s products as well as other AI authoring software. However, the company said “it still has a number of limitations — so it should be used as a complement to other methods of determining the source of text instead of being the primary decision-making tool.”

In the Microsoft Corp.-backed company’s evaluations, only 26 percent of AI-written text was correctly identified. It also flagged 9 percent of human-written text as being composed by AI.

The tool, called a classifier, will be available as a web app, along with some resources for teachers, the company said in a statement Tuesday. The popularity of ChatGPT has given rise to authorship concerns as students and workers use the bot to create reports and content and pass it off as their own. It’s also spurred worries about the ease of auto-generated misinformation campaigns.

“While it is impossible to reliably detect all AI-written text, we believe good classifiers can inform mitigations for false claims that AI-generated text was written by a human: for example, running automated misinformation campaigns, using AI tools for academic dishonesty, and positioning an AI chatbot as a human,” OpenAI said in a blog post.

Since the release of ChatGPT in November, teachers in particular have been struggling to cope. Students quickly realized that the tool could generate term papers and summarize material, albeit while occasionally inserting glaring errors.

Also Read:Chinese search giant Baidu to launch ChatGPT-style bot

Earlier this month, a Princeton University student named Edward Tian released an app called GPTZero that he said he programmed over New Year’s to detect AI writing. Ethan Mollick, a professor at the University of Pennsylvania’s Wharton School developed an AI policy for his classes, which allows students to use ChatGPT as long as they provide a description of what they used the program for and how they used it.

New York City’s public schools have banned using ChatGPT and so has the International Conference on Machine Learning, except in certain cases. The conference ethics statement noted that “papers that include text generated from a large-scale language model (LLM) such as ChatGPT are prohibited unless this produced text is presented as a part of the paper’s experimental analysis.”

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Wall Street gains over 1% as traders await the Federal Reserve’s rate hike decision

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

A gauge of global stocks advanced on Tuesday as it closed out a strong month while US Treasury yields fell as investors assessed economic data and earnings reports ahead of a run of central bank policy announcements.

On Wall Street, US stocks rallied and closed higher, reversing declines in equity futures after data showed labor cost growth in the fourth quarter was the smallest in a year, at 1 percent, even in a tight labor market. Other data showed consumer confidence eased in January, as inflation expectations for the next 12 months climbed to 6.8 percent from 6.6 percent last month.

The Federal Reserve is widely expected to raise interest rates by 25 basis points (bps) at the conclusion of its two-day policy meeting on Wednesday. Investors will closely monitor comments from Fed Chair Jerome Powell following the announcement for clues on the path of monetary policy.

“Especially ahead of a Fed press conference, something like this equity market rally is kind of explicitly against what they want, and they have been pretty clear the market rallying on what they expect the Fed to do is counter-productive,” said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky.

“We do feel like we’ve gotten a bit ahead of ourselves here even if we are closer to the end of the Fed hiking cycle than the beginning.”

The Dow Jones Industrial Average rose 368.95 points, or 1.09 percent, to 34,086.04, the S&P 500 gained 58.83 points, or 1.46 percent, to 4,076.6, and the Nasdaq Composite added 190.74 points, or 1.67 percent, to 11,584.55.

The S&P 500 closed up 6.2 percent for the month, its first January gain since 2019, while the Nasdaq surged 10.7 percent for its biggest percentage gain for the month of January since 2001.

Interest rate announcements from the Bank of England and the European Central Bank are scheduled for Thursday, with both seen as likely to hike rates by 50 basis points.

Markets will also grapple with a host of US economic data this week, culminating in Friday’s payrolls report for January. Investors see signs of weakening in the labor market as a key factor in bringing down high inflation. Other data this week include gauges of the manufacturing and services sectors.

In addition, more than 100 S&P 500 companies, including market heavyweights Apple Inc, Amazon.com Inc and Google parent Alphabet, are scheduled to report results this week.

Despite the strong equity rally, Caterpillar and McDonald’s both lost ground on Tuesday following their quarterly results. However, Exxon Mobil rose after posting a $56 billion net profit for 2022.

European shares retreated ahead of the central bank meetings to end the month on a down note, but still notched their biggest January percentage gain since 2015. Economic data for the euro zone showed slight growth for the fourth quarter, but further weakness is expected this year.

The pan-European STOXX 600 index lost 0.26 percent, and MSCI’s gauge of stocks across the globe gained 0.72 percent. MSCI’s index was on pace for its biggest January percentage gain since 2019.

Benchmark US 10-year notes were down 3.5 basis points to 3.51 percent in the wake of the data, after hitting a two-week high of 3.57 percent on Monday.

In currencies, the US dollar index, poised for a fourth month of declines, fell 0.17 percent, with the euro up 0.22 percent to $1.08.

Oil prices recovered from earlier lows, as US crude settled up 1.2 percent at $78.87 per barrel and Brent settled at $84.49, down 0.48 percent on the day.

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Maharashtra community health officials to go on strike today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Community health officials posted in rural areas of Maharashtra will go on a strike on Wednesday for various demands including a permanent government job, sources said on Tuesday.

Their other demands include a reduction in workload, allotment of wages on time and insurance by the state government.

Community health officers (CHOs) work in rural areas at primary health centres. They are currently working on a contract. Although their contracts get renewed, CHOs have now demanded to make them permanent employees of the state government, sources said.

The one-day strike will affect the basic check-up of patients for cold, cough, fever and routine maternal visits that are scheduled for Wednesday, a government doctor said.

”The state government used to give a 5 per cent increase in monthly wages every year to CHOs but it is not implemented since 2017. The government should clear those dues,” he said, adding they want to be inducted as permanent employees of the government and given a ”B’ grade pay scale.

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

V S Mani’s GD Prasad on being a former ad man, Shark Tank, personal branding

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Weekly Shorts: Is Facebook still relevant for influencer marketing?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Manoj Tiwari celebrates 52nd birthday today: A look at his journey from screen to politics

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Bhojpuri actor and singer-turned-politician Manoj Tiwari turns 52 on February 1. He kickstarted his career as a singer in the Bhojpuri film industry and soon rose to fame with numerous hits. With his popularity backing him, he stepped into politics and was appointed as the president of the Delhi unit of the BJP.

On his 52^nd birthday, here is a look at Manoj Tiwari’s journey from the screen to politics.

Manoj Tiwari rose to popularity with the release of his devotional albums in the early 90s. He was also called to perform Ganga Aarti for the first time in 1991.

ALSO READ: Tripura Election 2023: Where do BJP and Left Front stand, a SWOT analysis

Till 1995, Tiwari only got offers to sing in small programmes. His fortunes changed dramatically with the release of his song, Baadi Sher Par Sawaar, from the album Sheetala Ghat Pe Kashi Me.

Manoj Tiwari made his acting debut with the 2004 Bhojpuri film Sasura Bada Paisawala. The movie turned out to be a hit and Tiwari soon made his mark in the Bhojpuri industry and stood alongside stars like Ravi Kishan.

He made his Bollywood debut with the 2008 film Deshdrohi and his directorial debut in 2010 with the film Hello Darling. He featured in songs for renowned movies like Gangs of Wasseypur and Shah Rukh Khan’s Fan. He also appeared in season 4 of the reality show Bigg Boss.

Manoj Tiwari stepped into politics in 2009 and contested in the 15th Lok Sabha elections. He was fielded by the Samajwadi Party from Gorakhpur against BJP’s Yogi Adityanath. He lost the election. Tiwari joined the BJP in 2013.

ALSO READ: Amrit Udyan opens for public today: How to book tickets and other details

He then contested in the 2014 Lok Sabha elections from North East Delhi and made it through by defeating Aam Aadmi Party’s Anand Kumar. He was then appointed as the president of BJP’s Delhi unit in 2016.

Tiwari’s political triumph came in the Municipal Corporation of Delhi (MCD) elections in 2017. He took the centre stage and steered the BJP towards an impressive win in the municipal polls. Currently, he is serving his second term as a member of the Lok Sabha after retaining his North East Delhi seat in the 2019 general elections.

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market Highlights: Indian indices swing wild post Budget, Nifty 50 ends 350 points off high

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty 50 ended mixed as indices swung wild following the Budget 2023 announcement. The index opened higher earlier in the session. Markets initially surged after FM’s budget speech, however, soon nosedived. Finance Minister Nirmala Sitharaman tabled the Union Budget 2023-24 today.

Catch highlights of the February 1 session here:

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

When and where to watch Budget 2023 LIVE

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Finance Minister Nirmala Sitharaman will present the Union Budget 2023 at 11 am on February 1, 2023, at Parliament in Delhi. This will be her fifth Budget presentation. This Budget comes ahead of the assembly polls in nine states this year.

Catch all the latest live updates on the 2023-24 Union Budget here.

When is the Budget speech?

The Budget 2023 will be presented on February 1, 2023, (Wednesday) at 11 am. FM Sitharaman will give a speech at Parliament of India in Delhi.

Where to watch the speech live?

The speech will be telecast live on Lok Sabha TV (Sansad TV), the official parliament channel, and on Doordarshan. You can also tune into CNBC-TV18 on your televisions. The speech will be livestreamed online on CNBCTV18.com at 11 am. Click here to watch the Budget 2023 Speech LIVE on CNBCTV18’s website. The speech can be viewed on Twitter and YouTube as well.

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Indian Coast Guard Day 2023: History and significance

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Indian Coast Guard Day is celebrated on February 1 every year to honour organisations that look after maritime security. This year, India will be celebrating the 47^th Coast Guard Day.

The primary responsibilities of the Coast Guard include offshore security, marine safety, and coastal security, as well as safeguarding India’s Exclusive Economic Zone (EEZ).

ALSO READ: Republic Day 2023: Ministry of Tribal Affairs tableau on Eklavya schools wins top position

History and Significance

The interim Indian Coast Guard was originally established on February 1, 1977, to prevent the sea-borne smuggling of goods that hampered India’s domestic economy.

On August 18, 1978, the Indian Coast Guard (ICG) Day was officially established by the Parliament to be celebrated on February 1.

Since its inception, the Indian Coast Guard has saved thousands of lives and apprehended miscreants. Since its establishment, the ICG has also confiscated drugs, contraband and illicit goods worth thousands of crores.

Currently, the Indian Coast Guard is ranked as the fourth largest Coast Guard in the world.

ALSO READ: Amrit Udyan opens for public today: How to book tickets and other details

The Indian Coast Guard is headed by the Director-General, who resides at the headquarters in New Delhi.

The Coast guard is also involved in volunteering, searching, holding rescue operations at sea and guarding the national waters and borders of our country.

The work of the Indian Coast Guard varies for multiple fields in collaboration with the Indian Navy, the Customs Department and the Police. The guard is allotted to different regions including the North-West region situated in Gandhinagar, Gujrat, the East region in Chennai, and the North East region in Kolkata and Andaman and Nicobar regions.

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

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow