SEBI Targeting Gaming Apps, Hyundai's EV charging station, Samsung Launched AI Feature, Apple AI Emoji Generation, ETC.

Market Briefs

Main Briefs

SEBI Cracks Down on Virtual Trading Gaming Apps:

Overview:

• SEBI is targeting gaming apps offering virtual trading and fantasy games based on real-time stock prices to curb misuse amid growing retail investor interest.

Key Actions:

• SEBI has barred exchanges and depositories from sharing real-time price data with third parties.

• Apps offering monetary rewards based on virtual trading are banned, similar to illegal "dabba trading."

Impact:

• Many platforms where users pay fees to compete based on fictional trading strategies are affected.

• SEBI allows market data use for education with a one-day lag and no monetary incentives.

Enforcement:

• Exchanges and depositories must monitor data usage to prevent misuse.

• Stock exchanges will update agreements to prevent unauthorised data use.

Briefs, You Can’t Miss:

1. Hyundai has established an EV charging station in Chennai and plans to set up 100 such facilities across Tamil Nadu.

2. Dr Reddy's, Cipla, Sun Pharma, and other pharmaceutical companies are expected to see revenue growth in FY25 in the US market, according to India Ratings and Research.

3. Ashok Leyland will unveil 5-6 new products in the LCV segment, according to the Managing Director.

4. Vodafone Idea is offering extra data for new 4G and 5G smartphone users.

5. India's chemicals market is projected to reach $29.7 billion in 2024, with a steady growth rate of 3.26% CAGR through 2029.

6. Zypp Electric has raised $15 million from Japanese firm Eneos.

7. Mukesh Ambani is targeting the African telecom market with plans to develop 5G infrastructure.

8. Lightspeed-backed Yellow.ai plans to launch large language models (LLMs) in Indian languages for customer-service functions.

9. In the upcoming mega spectrum auction, the spectrum will be assigned for 20 years, and successful bidders can make payments in 20 equal annual instalments.

10. Samsung launched the Galaxy F55 5G with AI features, priced at Rs 24,999.

11. The Indian government will receive Rs 3,662 crore as a dividend for being LIC's largest shareholder.

12. The Reserve Bank of India has imposed penalties on ICICI Bank and Yes Bank for lapses in compliance.

World Briefs

• Ether ETF approvals in the US are expected to increase institutional investment.

• Google Messages is reportedly rolling out Gemini integration to users, but India may not receive it.

• China urged Japan and South Korea to reject "protectionism" and support free trade during a trilateral summit in Seoul.

• Alibaba’s global arm has signed David Beckham as its international e-commerce brand ambassador.

AI Briefs

• Elon Musk’s xAI raised $6 billion from Valor, a16z, and Sequoia.

• Apple might add AI-powered emoji generation and app icon customization in iOS 18, according to a report.

• Alibaba is betting on AI to drive cloud growth and expand globally to compete with U.S. tech giants

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Company Of The Day

Company Name: Fab India

• Founder: John Bissell

• Year Of Foundation: 1958

• Headquarter: New Delhi, Delhi, India

• Industry:

  Fabindia is India's largest private platform for products crafted using traditional techniques and skills.

• Why Is It in the News?

  Tata Group is negotiating with Fabindia's owners to buy a stake or the entire company. The potential deal values Fabindia at less than the $2.5 billion estimated during its failed IPO.Voda Idea launches extra data for new 4G and 5G smartphone users.