Stock Alert: Popular Vehicle & Services, Kaynes Tech, Man Infra, HCL Tech
Securities in F&O Ban:Aditya Birla Fashion & Retail (ABFRL), Indian Renewable Energy Development Agency (IREDA), RBL Bank, Hindustan Copper and Chambal Fertilisers & Chemicals shares are banned from F&O trading on 11 June 2025. Stocks to Watch:Popular Vehicles and Services received a Letters of Intent (LOI) from Maruti Suzuki India to establish a new independent true value outlet for pre-owned vehicles in Bangalore, Karnataka.Kaynes Technology Indias wholly owned subsidiary, Kaynes Semicon has entered into an asset purchase agreement with Fujitsu General Electronics (Fujitsu Electronics) to acquire production lines for power modules.Anant Rajs board approved the re-appointment of Amit Sarin as managing director, Aman Sarin as chief executive officer (CEO) and Ashim Sarin as chief operating officer (COO) for the five years with effect from 1 January 2026 Man Infraconstruction agreed to acquire 36.07% stake in its wholly owned subsidiary, Man Realtors and Holdings (MRHPL) at Rs 215 per share. The company holds 63.93% stake in the MRHPL.HCL Technologies announced an expansion of its partnership with Standard Insurance Company to deliver AI-driven infrastructure and application services to boost efficiency, support rapid growth and enhance customer experience.Powered by Capital Market - Live News
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Business Standard
20 minutes ago
- Business Standard
US insurers to more than double AI investment in 3-5 years: Wipro report
A survey of 100 business leaders from US insurance companies with revenues over $500 million indicates that the industry is adopting artificial intelligence (AI), according to a report by Wipro. The report finds that 81 per cent of insurance companies plan to increase their AI spending in the next year. Most firms aim to raise the share of AI in their IT budgets from the current 8 per cent to 20 per cent over the next three to five years, as they work to integrate AI into core processes. 'Investing in a strong data, governance and technical foundation, and aligning AI initiatives to shared business objectives will be critical to success. For firms starting on the journey, prioritising quick wins and investing in building the foundation necessary for scale will be the key,' said Ritesh Talapatra, Vice-President and Sector Head for Capital Markets and Insurance, Wipro Limited. 'Almost all, 92 per cent, of respondents agree that AI is essential for maintaining their competitive edge in customer experience and personalisation,' the report stated. AI integration The report indicates a two-speed market in AI adoption. Larger firms are ahead due to established governance structures and access to extensive data, while mid-sized and smaller firms face challenges such as legacy systems and limited AI expertise. AI is helping insurers to streamline workflows. 'AI is increasingly helping insurers realise enhanced efficiencies and precision in underwriting. While all insurers are working to integrate AI into the underwriting process, only less than half, 46 per cent, say they have extensively implemented AI systems into their underwriting workflows,' the report said. Sixty-eight per cent of insurers expect AI to improve underwriting by increasing risk assessment accuracy and reducing costs. Additionally, 65 per cent believe it will support compliance with regulatory requirements, while 62 per cent anticipate that AI will help improve customer satisfaction and retention. Challenges The survey identifies both external and internal risks as key challenges in AI adoption. While AI supports quicker and more accurate decisions, it also brings potential risks such as bias and reputational issues. The findings show that 21 per cent of insurers, including 44 per cent of smaller firms, do not have formal AI usage policies, which may lead to compliance issues as regulations develop. Integration of AI with existing systems is also a significant concern. According to the report, 71 per cent of insurers face difficulties in merging AI with legacy infrastructure. To address this, 65 per cent of firms are using a phased implementation strategy to manage risk and ensure smoother integration.
The Hindu
26 minutes ago
- The Hindu
Google offers buyouts to workers; OpenAI in talks with Saudi Arabia, Indian investors to raise funds; Meta, TikTok challenge fees in EU court
Google offers buyouts to workers Google is offering buyouts to more employees in another round of layoffs as the tech giant awaits a court verdict in its search and ads antitrust lawsuit. The Sundar Pichai-led company has confirmed the news although it hasn't disclosed the number of employees who will be affected. The employees are spread across the search, advertising, research and engineering segments. U.S. District Judge Amit Mehta is deciding whether to ban Google's exclusive agreement with Apple which sets Chrome as its search browser. The judgment is expected to be given before Labour Day after which Google can appeal last year's decision where the company was defined as a monopoly. The federal judge ruled that Google's digital ads business was said to abuse its market power and tamp down on competition. In 2023, the company laid off 12,000 workers post a hiring splurge that Big Tech companies were on during the pandemic. OpenAI in talks with Saudi Arabia, Indian investors to raise funds OpenAI is reportedly in discussions with new investors including Saudi's PIF, India's Reliance Industries and existing shareholder United Arab Emirates' MGX to raise $40 billion in funds. The investors are expected to invest at least hundreds of millions of dollars each, a report by 'The Information' said. The funds will be used to develop AI infrastructure as a part of their Stargate venture which is in partnership with SoftBank. OpenAI CEO Sam Altman met with Indian IT Minister earlier this year, after which he also planned to meet the Abu Dhabi investment group MGX. The AI firm is also speaking with Coatue and Founders Fund to raise atleast $100 million each. The report also stated that OpenAI could be raising an additional $17 billion in 2027. OpenAI hasn't confirmed the reports yet. Meta, TikTok challenge fees in EU court Meta and TikTok are fighting EU regulators on a supervisory fee and that's levied and how it's calculated, in the second highest court in Europe. The social media platforms called the fee disproportionate and measured on a flawed methodology. The companies along with 16 other tech companies had to pay a supervisory fee which was 0.05% of their annual worldwide net income under the Digital Services Act that became a law in 2022. The fee intends to cover the EU's cost of monitoring their compliance with the law. The size of the annual fee is based on the number of average monthly active users for each platform. Meta said that it wasn't trying to avoid its share of the fee but it was questioning the way the amount had been calculated. A representative for TikTok said that the EU had counted users who logged into their phones and from their laptops twice.
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First Post
34 minutes ago
- First Post
Air India crash puts Boeing 787 under scrutiny again: Whistleblower warned of ‘ticking time bomb'
Air India flight AI-171 crash near Ahmedabad raises fresh concerns over Boeing 787 safety, months after engineer's chilling warning about structural flaws and rushed production, according to a report read more A view shows the rear of an Air India plane following its crash in Ahmedabad. Reuters Air India flight AI-171, a Boeing 787-8 Dreamliner carrying 242 passengers, crashed shortly after taking off from Ahmedabad on Thursday, . The aircraft, en route to London Gatwick, went down near a residential neighborhood, sending thick plumes of smoke into the air. Emergency crews responded swiftly, transporting injured passengers to local hospitals as rescue efforts got underway immediately. According to a MoneyControl report, the incident marks the first-ever total loss of a Boeing 787 since its commercial debut in 2011. STORY CONTINUES BELOW THIS AD Once celebrated as a flagship of next-generation aviation, the Dreamliner has since faced persistent issues, including technical malfunctions, production delays, and ongoing safety concerns. What is the Boeing 787 Dreamliner? The Boeing 787 Dreamliner is a long-haul, wide-body, twin-engine jet developed by Boeing Commercial Airplanes. First entering service in 2011, it was engineered to deliver improved fuel efficiency, enhanced passenger comfort, and better operating economics compared to previous models. More from India Helpline numbers launched after Air India flight crash in Ahmedabad Composite material: More than half of the Dreamliner's airframe (by weight) is made from carbon-fiber-reinforced polymer, significantly reducing the aircraft's weight and improving fuel efficiency. Efficient engines: Equipped with either Rolls-Royce Trent 1000 or GE GEnx engines, the 787 offers approximately 20% better fuel efficiency than the Boeing 767, the aircraft it was designed to replace. Long range: The 787-8 variant can fly up to 13,530 kilometers, allowing airlines to operate direct international routes that bypass traditional hub airports. Air India's history with the Dreamliner In October 2012, Air India became the first airline to receive a Boeing 787 Dreamliner assembled at Boeing's South Carolina facility, marking a departure from the company's primary production site in Everett, Washington. This aircraft was the third Dreamliner delivered to the Indian national carrier, with the first two originating from Everett. Today, Air India operates a fleet of 787-8 Dreamliners, primarily serving long-haul international destinations including the UK, North America, and the Middle East. The aircraft forms a key part of the airline's global operations. STORY CONTINUES BELOW THIS AD A troubled aircraft from the start The Dreamliner's development has been marred by setbacks since its inception: Battery fires: In 2013, the FAA grounded the entire global 787 fleet after lithium-ion battery fires were reported in multiple jets. Production flaws: From 2019 onward, the 787 program faced serious quality control issues including gaps in fuselage joins, improper shimming, and foreign object debris left inside aircraft. Delivery halt: Between January 2021 and August 2022, Boeing paused nearly all Dreamliner deliveries amid FAA oversight and internal audits. Operational issues with Boeing 787 Dreamliner Jan 8, 2013: JAL 787 suffers fuel leak in Boston; flight cancelled. Jan 9, 2013: United Airlines finds wiring issue near main battery; US NTSB opens probe. Jan 11 & 13, 2013: Same JAL aircraft leaks fuel again at Tokyo Narita. Japan's transport ministry investigates. Jan 11, 2013: FAA begins comprehensive review of 787 systems. Jul 12, 2013: Ethiopian Airlines 787 catches fire at London Heathrow; extensive heat damage. Caused by lithium battery in emergency locator transmitter. Jul 26, 2013: ANA finds wiring damage in 2 aircraft; United reports pinched wire in one. Aug 14, 2013: Fire extinguisher defect in 3 ANA jets, discharges into wrong engine due to assembly error. Nov 22, 2013: Boeing warns airlines using GE engines to avoid high-altitude storms due to icing risks. Jan 21, 2014: Norwegian Air Shuttle 787 suffers fuel leak mid-flight; delay of 19 hours. Issue found after passengers noticed leak. Faulty valve to blame. Mar 2016: FAA warns of 'unrealistic' low airspeed displays, risk of structural failure from abrupt pilot input. Apr 22, 2016: FAA issues directive after GEnx engine suffers non-restartable failure due to fan ice imbalance. Jun 18, 2021: British Airways 787-8 nose gear collapses while parked at Heathrow; caused by improperly inserted pin during maintenance. Mar 11, 2024: LATAM Flight 800 drops suddenly mid-air; 50 injured, 12 hospitalized. Investigation ongoing. Jun 12, 2025: Air India Flight AI-171 crashes after takeoff from Ahmedabad en route to London. Whistleblower raised alarm over Boeing safety practices In early 2024, Boeing engineer and whistleblower Sam Salehpour issued a stark warning about potential safety risks in the company's production of both the 777 and 787 Dreamliner aircraft. In interviews with The New York Times and CNN, and in a formal complaint filed with the Federal Aviation Administration (FAA), Salehpour alleged that Boeing had taken dangerous shortcuts in the manufacturing process—practices he claimed could have serious long-term consequences as the aircraft age. According to Salehpour, Boeing engaged in rushed assembly and improper manufacturing techniques, including faulty drilling on the 787 and the use of misaligned body parts on the 777. He also claimed that engineers were pressured to approve work that had not been properly inspected. His concerns, he says, were met with internal retaliation after he raised them. STORY CONTINUES BELOW THIS AD One of his most serious allegations involved tiny gaps between fuselage sections on the Dreamliner, which he said were filled improperly. Over time, he warned, these could lead to fatigue cracks, posing a catastrophic risk. Salehpour estimated that more than 400 Boeing 777s and over 1,000 Dreamliners could be affected. 'These planes are being flown with a ticking time bomb,' he said. With inputs from agencies
