Swiggy, PLI Scheme, Pixel Phones, Jeff Bezos, Youtube, Etc.

Market Briefs

Main Briefs

Swiggy's New UPI Service Aims to Simplify Payments for Users:

• New Service: Swiggy has introduced a UPI payment service through a plugin, aiming to reduce reliance on external payment apps.

• User Convenience: The integrated UPI service allows users to make seamless payments directly within the Swiggy app.

• Strategic Move: This initiative is part of Swiggy's strategy to enhance user experience and streamline payment processes.

• Market Impact: By integrating UPI, Swiggy seeks to offer a more efficient and secure payment option, potentially attracting more users to its platform.

India’s Rs 44,000 Crore Plan to Boost Electronics Sector Under PLI Scheme:

• Investment Plan: India is planning a substantial investment of Rs 44,000 crore to bolster its electronics manufacturing sector.

• Objective: The initiative aims to position India as a global leader in electronics production, reducing dependence on imports.

• PLI Scheme: The investment is part of the Production-Linked Incentive (PLI) scheme, designed to incentivize local manufacturing.

• Economic Impact: This move is expected to create job opportunities, drive economic growth, and enhance India's technological capabilities.

• Strategic Goals: The plan aligns with the government's vision of achieving self-reliance in critical sectors and boosting exports.

Indian Briefs, You Can’t Miss:

1. SEBI Instructs Brokers to Strengthen Market Abuse and Fraud Detection Mechanisms.

2. NCLT Warns Byju's: Pay Employee Salaries or Undergo Audit.

3. India-Made Pixel Phones to Be Exported to Europe, US by Google.

4. Suzuki’s Rs 340 Crore 'Next Bharat' Fund to Aid Social Impact Startups.

5. Zomato Halts Operations of Hyperlocal Delivery Service Xtreme.

6. Policy Boost for India’s EV Sector as Govt Fast-Tracks Major Schemes.

7. Beverage Company RockClimber Seeks $5 Million, Targets Rs 100 Crore Revenue.

8. Sanofi’s Dupixent Approved by EU for Treating Smokers’ Lungs.

9. Ambani Partnership Opens Door to India for Rejected Chinese Company.

10. Rs 140 Crore Investment Planned by Optiemus Infracom for Drone Services.

11. CRISIL: FMCG Sector to Grow 7-9% in FY25, Boosted by Rural Recovery.

World Briefs

• BYD Launches First Southeast Asia EV Factory in Thailand.

• Jin of BTS Fame to Represent South Korea as Olympic Torch Bearer.

• EU Imposes Up to 38% Tariffs on Chinese Electric Vehicles.

• Jeff Bezos to Sell $5 Billion in Amazon Shares After Record High.

• SoftBank Shares Reach Record High After 24 Years, Driven by Arm and AI.

AI Briefs

• UN Report: China Leads in Generative AI Patents, Tencent and Baidu Among Top.

• AI Bot Combat: Cloudflare Unveils New Defense Tool.

• Material Innovation: Altrove Leverages AI and Lab Automation.

• YouTube Simplifies AI Deepfake Reporting and Removal.

Company Of The Day

Company Name:  Cello  

• Founder: Gaurav Rathod

• Year Of Foundation: 1958

• Headquarter: Mumbai, Maharashtra, India

• Industry:

  Cello is a manufacturer of kitchenware products and home appliances.

• Why Is It in the News?

  Cello World launches QIP(qualified institutional placement), floor price at Rs 896.09 per share.