Nuvepro, UltraTech, Webtoon, Tata, Ola, Tech Mahindra, Open AI, Apple, etc.

Market Briefs

Main Briefs

India's Employment Outlook Rises by 30 Points Amid Global Economic Challenges 

Overall Employment Outlook: Improved by 30 percentage points, placing India sixth globally, but a 6-point decline from last year.

Sector Growth: Financial Services and Real Estate sectors are key drivers of employment growth.

Company Size Impact: Large organizations (1,000-4,999 employees) and small to medium organizations (50-249 employees) show strong hiring optimism at 42%.

Regional Hiring Intent: Strongest in North India (36% growth), followed by West (31%), South (30%), and East (21%).

AI Integration: Over 62% of employers have adopted AI, with 80% of senior leaders optimistic about its impact. 68% of employers plan to increase headcount due to AI and Machine Learning.

Sectoral Variations: Communication Services, Financial and Real Estate, Industrials & Materials, and IT sectors lead in AI-driven hiring optimism.

Nuvepro to Train 100,000 Professionals in Generative AI

• Training Goal: Nuvepro aims to train over 100,000 professionals in generative AI.

• Recent Training: Over 1,000 professionals trained in the past two months through workshops.

• Workshop Focus: Hands-on experience with real-world GenAI challenges, in collaboration with AWS experts.

• Industry Impact: Essential for increasing revenue, reducing costs, improving productivity, and managing risks.

• Learning Effectiveness: 83% of participants gained valuable insights; 97% prefer hands-on learning through virtual labs and simulations.

• Career Impact: 35% secured new roles, 28% obtained new projects; 47% use Gen AI tools like GitHub.

• Participant Feedback: 85% found the training helpful for their current job, and 88% consider hands-on learning practical for upskilling in Gen AI.

Aditya Birla Group's UltraTech Cement Acquires 23% of India Cements

• Acquisition Details: UltraTech Cement acquires a 23% stake in India Cements for Rs 1,900 crore, buying 70.6 million shares at up to Rs 267 each.

• Strategic Move: The acquisition blocks a capacity of almost 15 million tonnes, preventing future bids from competitors.

• Market Impact: UltraTech's market share now stands at 23-24% with a target production capacity of 200 million tonnes by March 2027.

• Regional Focus: The acquisition strengthens UltraTech's presence in South India, where India Cements has a capacity of around 13 million tonnes.

• Competitors: This move follows Adani Cement's acquisition of Penna Industries and rumors of Adani and JSW Cement's interest in India Cements.

• Historical Context: Radhakishan Damani increased his stake in India Cements from 1.35% in 2019 to 22.76% by the end of 2021.

Indian Briefs, You Can’t Miss:

1. India's Top Webtoon App Toonsutra Reaches 1 Million Downloads Milestone.

2. Tata Electronics Teams Up with Synopsys to Develop Custom Chips.

3. Vi Follows Suit with Jio, Airtel, Increasing Tariffs from July 4.

4. Tata Motors Aims for 18-20% Share as PV Market Set for 60 Lakh Units by 2030.

5. ITC Reports 12% Growth in Consumer Spending to Rs 32,500 Crore for FY24.

6. UltraTech Expands with 23% Acquisition of India Cements.

7. Shocking: Just 3% of 62 Million Indian Business Owners Insured, Says ICICI Lombard.

8. Tech Mahindra Launches Project Indus, Focusing on Indic Language AI.

9. Ola Ventures into Grocery Delivery, Secures 30% of ONDC Food Orders.

10. New PLI Scheme for Obesity, Diabetes Drugs to Launch Soon in India.

11. Indian Regulator Shuts Down 36% of Drug-Making Units after Inspections.

12. Background Check Startup KarmaCheck Gains $45 Million Investment.

13. Two Brothers Organic Farms Secures Rs 58.2 Crore from Nithin Kamath's Rainmatter.

World Briefs

• Apple's iPhone Shipments Skyrocket in China with 40% Surge Amid Price Cuts.

• Victory for Gig Workers: Uber and Lyft Implement Minimum Wage in Massachusetts.

• Meta Threatens to Block News on Facebook in Australia.

• Google Hit with €1 Billion Tax Bill by Italian Authorities.

• New YouTube Premium Update: Smart Downloads and PiP Mode for Shorts.

• TikTok Launches Major Sales Event to Compete with Amazon Prime Day.

AI Briefs

• Time Magazine and OpenAI Ink Multi-Year Content Deal.

• Google Translate Expands with 110 New Languages Using AI.

• Baidu Unveils Enhanced AI Model as User Base Reaches 300 Million.

• Talk to Avatars: Character.AI Launches Voice Call Capability.

• Meta's User-Created AI Chatbots Make Their Debut on Instagram.

Company Of The Day

Company Name:  Nuvepro

• Founder: Giridhar L V, Janakiraman Srinivasan

• Year Of Foundation: Nov 1, 2014

• Headquarter: Bangalore, Karnataka, India

• Industry:

  Nuvepro provides Hands-on labs/Virtual IT labs for any form of software training and assessments.

• Why Is It in the News?

  Nuvepro aims to train a large number of professionals in generative AI, including data scientists, developers, and AI enthusiasts. They have already trained 1,000 professionals in the past two months through hands-on workshops focused on real-world generative AI challenges.