BUSINESS
BharatPe Reports Widened Net Loss of Rs 941 Crore in FY23
The positive EBITDA is attributed to growth in the lending and payments business. The company has also reduced cash burn, averaging Rs 60 crore per month in 2022-23, to achieve a positive EBITDA.
Financial position of unlisted corporate sector has weakened in post-Covid period
According to Motilal Oswal Financial Services, the unlisted corporate sector is not only much bigger than its listed counterpart, the latter has moved in a different direction vis-a-vis the former as per MOFSL estimates. What is more interesting is that while the financial position of listed sector has improved markedly in the post-Covid period (FY20-FY23), this is clearly not the case for the aggregate corporate sector. It means that the financial position of the unlisted corporate sector has weakened in the post-Covid period.
OpenAI Empowers Board with Veto Power to Safeguard Against AI User Harm
The updated "Preparedness Framework" involves investing in rigorous capability evaluations and forecasting to detect emerging risks. OpenAI will conduct evaluations, produce risk scorecards, and implement additional security measures to ensure the safety of its models. Regular safety drills and collaboration with external parties are also part of the strategy to enhance AI safety.
India's Growth Rate Expected to Remain Strong, Current Account Deficit Set to Decline: IMF Report
The IMF Directors commend India's prudent policies, economic performance, and call for sustained stability and key structural reforms to unlock the country's potential.
Current Fiscal Year Sees Direct Tax Collections Surge by 21%, Exceeding Rs 13.7 Lakh Crore
This robust collection comprises Corporation Tax at Rs 6,94,798 crore (net of refund) and Personal Income Tax, including Securities Transaction Tax (STT), at Rs 6,72,962 crore (net of refund).
BP Halts Red Sea Oil Shipments Post Houthi Rebel Attacks
Several freight companies have also suspended their ships after being targeted by Houthi rebels in Yemen.
Profit-Taking Emerges Following a Sharp Three-Day Rally
Global markets traded cautiously ahead of the Bank of Japan's meeting, potentially signaling changes in its ultra-loose monetary policy.
RBI's Penalties on Banks and NBFCs Total Rs 40.39 Crore for 2022-23
Cooperative banks faced 176 cases, leading to fines amounting to Rs 14.04 crore. Private sector banks incurred penalties of Rs 12.17 crore, while public sector banks (PSBs) faced fines of Rs 3.65 crore.
IFU Allocates $35 Million Funding to Enhance Blue Planet's Vital Operations in India
IFU's Investment Director, Jonas Lau Kristensen, emphasized their commitment beyond financial backing, aiming for a sustainable and inclusive future.
Limited room for further outperformance of mid & small caps to large cap
Hence, the room for further catchup outperformance is limited, in our view.
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