Here are the top 11 news stories across business, global events, tech, and more
#MarketNews⚡
From SBI to Zomato: Jefferies bets on these 11 stocks for the next five years
Brokerage firm Jefferies has highlighted 11 stocks, which according to them, are likely to deliver a Compound Annual Growth Rate of 15% to 25% in terms of returns over the next five years.
The stocks include names like
State Bank of India, Bharti Airtel, Zomato, Larsen & Toubro (L&T), and Macrotech Developers, among others. Over the next five years, Jefferies expects these stocks to double or triple.
Bonus Shares: A stock that has gained 200% in 12 months is set to reward shareholders
Shares of Anup Engineering Ltd., the producer and distributor of industrial machinery, are trading with gains of 11% on Monday morning, marking its biggest single-day gain in five months.
The company informed the exchanges over the weekend that its board would meet on Wednesday, March 20, to consider the proposal of issuing bonus shares to its shareholders.
The record date for the bonus issue, if approved, is yet to be determined.
#TechTalks📱
Apple to pay $490 million to settle allegations that it misled investors about iPhone sales in China
Apple has agreed to pay $490 million to settle a class-action lawsuit alleging CEO Tim Cook misled investors about a steep downturn in iPhone's sales in China that culminated in a jarring revision to the company's revenue forecast.
The preliminary settlement filed Friday in Oakland, California, federal court stems from a shareholder lawsuit focused on the way Apple relayed information about how iPhone models released in September 2018 were performing in China, one of the company's biggest markets.
MeitY advisory: AI platforms don’t need govt nod anymore, focus on deepfakes
The Ministry of Electronics and Information Technology (MeitY) has made a significant reversal on its previous advisory regarding the approval process for platforms utilising AI models. The government body on Friday, March 15, issued a fresh advisory, rescinding the requirement for platforms to seek government approval for AI models under development.
Instead, MeitY now emphasises the importance of labelling AI-generated content, particularly those susceptible to misuse in deepfake technology.
#DailyData📈
#HealthcareNews🩺
World Glaucoma Week | Here's some new hope that the medical world offers to manage this biggest cause of blindness
It all started in 2021. I could sense something amiss in my vision which I passed it off as dryness. Then the vision became a bit blurry. I again passed it off with too much of laptop use. When the condition became worse, I went to a small clinic in the adjoins. The doctor looked at my eyes through his machine and confirmed that I had glaucoma. And this was one of the rare kind — angle closure. My heart sank. I had seen my great grandfather lose his vision in both the eyes because of this disease.
Drug counterfeiting — why is this heinous crime still rampant in India despite multiple laws in place
The Delhi Police recently busted a racket of sale of counterfeit drugs — not just any drugs but lifesaving chemotherapy drugs. The modus operandi involved technicians from a cancer hospital supplying genuine empty vials of cancer drugs. These were filled with an antifungal drug and sold as anti-cancer injections through a pharmacy shop.
The pharmacy sold several of them. Prominent among these cancer drugs were Opdyta, Keytruda and Infinzi. Opdyta is used for the treatment of cell lung cancer, kidney cancer, head and neck cancer and liver cancer.
#StartupsWorld🌍
Flipkart valuation declines by over ₹41,000 crore in two years
E-commerce firm Flipkart's valuation has declined by $5 billion or around ₹41,000 crore as of January 2024 compared to that in January 2022, according to equity transactions carried out by its US-based parent firm Walmart.
The valuation of the e-commerce firm declined to $35 billion as of January 31, 2024, from $40 billion in the financial year ended on January 31, 2022, as per Walmart's change in equity structure in Flipkart.
#ExpertEdge💡
Give your portfolio a regulatory shield
Many investors like to steer clear of businesses in sectors with high regulatory risk, like power, oil and gas, mining, telecom and sugar, because the fortunes of businesses in these sectors isn’t determined as much by supply and demand equations or competitiveness but by policies and regulations. The regulatory risk in such sectors is very high with a shift in policy having the ability to completely alter income and profitability for incumbents. As such, businesses in these sectors cannot be expected to command long-term valuations at par with businesses like FMCG or IT services, for instance, where there is low regulatory intervention.
Beyond #Newsroom 📰
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(Edited by : Akashdeep Baruah)
