Reliance Industries Acquires 21% Stake in US-based Wavetech Helium for $12 Mn

Reliance Industries, through its subsidiary Reliance Finance and Investments USA LLC, acquired a 21% stake in Wavetech Helium Inc. The deal, valued at $12 million, was formalized on November 27, 2024.

Founded in July 2021, Wavetech Helium is a helium gas exploration and production company based in the United States. Helium is used in various applications, including medical, scientific research, aerospace, electronics, and fiber optics. Given the expected growth in Al and data centers, helium demand for semiconductor manufacturing is also anticipated to rise.

Wavetech started its commercial operations in fiscal year 2024. Helium produced by Wavetech Helium is used in medical applications, scientific research, aerospace and aeronautics, electronics, fiber optics, and semiconductor manufacturing.

Notably, Wavetech Helium controls Helium gas reserves (including proven) and resources in E-SE Colorado/W Kansas and NW Montana, two of the premier Helium fairways in the world.

This acquisition is part of Reliance's strategy to expand its exploration and production business in low-carbon solutions.

Further, the investment aligns with Reliance's strategy to diversify into new energy sectors and reduce its carbon footprint. With helium being a critical component in various high-tech applications, including medical, scientific research, aerospace, and semiconductor manufacturing, this acquisition allows Reliance to tap into the growing demand for helium.

The acquisition opens up new markets for Reliance, particularly in the United States, where helium is a valuable resource for various industries. It also aligns with global sustainability goals, as helium production has a relatively low environmental impact compared to other fossil fuels.

Israel Expressed Support for Adani Group Despite the Bribery Allegations Against Its Founder

Israel has expressed its support for the Adani Group despite the bribery allegations against its founder in the United States. Reuven Azar, Israel's envoy to India, stated that Israel wants Adani and other Indian companies to continue investing in the country. He emphasized that the allegations by U.S. authorities are "not something that's problematic" from Israel's perspective.

This support comes as the Adani Group faces scrutiny over allegations of bribery to secure solar power contracts. Despite these allegations, the group continues to receive backing from various international partners, including Israel.

The Adani Group has made several significant investments in Israel, including Haifa Port, the Adani Group holds a 70% stake in Haifa port, which is one of Israel's largest Ports. This investment is part of Adani's strategy to expand its global port operations.

Adani is also involved in the production of military drones in Israel, leveraging the country's advanced technology and innovation in defense systems.

The group has plans to manufacture commercial semiconductors in Israel, tapping into the country's expertise in semiconductor technology.

Google Sues Its Former Bengaluru-Office Employee for Leaking Trade Secrets

Google India has initiated legal proceedings against Harshit Roy, a former employee from their Bengaluru office, for allegedly leaking confidential trade secrets related to Pixel devices. The lawsuit was filed in a Texas federal court and claims that Roy shared detailed specifications of proprietary hardware and software on his social media accounts.

Roy, who worked on next-generation system-on-chip technology for Pixel devices, reportedly began posting confidential information shortly after resigning in February 2024 and moving to the United States for doctoral studies 2. Despite Google's requests to remove the content, Roy continued to share the trade secrets.

Google is seeking unspecified monetary damages and court orders to prevent further dissemination of the confidential information.

Roy is accused of sharing detailed specifications of proprietary hardware and software on his social media accounts. He worked at Google from 2020 to early 2024 and resigned in February 2024 to pursue doctoral studies in the United States.

After resigning, Roy began posting confidential information on platforms like X (formerly Twitter) and LinkedIn. Google engaged an external investigator and filed the lawsuit in a Texas federal court, seeking unspecified monetary damages and court orders to prevent further dissemination of the confidential information.

Despite Google's requests to remove the content, Roy continued to share the trade secrets. Google's spokesperson emphasized that such behavior is unacceptable and that the company is committed to safeguarding its proprietary information.

India Emerges As Green Leader With the Lowest Per Capita CO2 Emissions Among the G20 Nations

India has emerged as a green leader among the G20 nations, boasting the lowest per capita CO2 emissions. With this, India is setting am example of sustainable development.

In 2023, India's per capita CO2 emissions were around 2.1 metric tons per person, compared to much higher figures in countries like Saudi Arabia, which had the highest per capita emissions at over 17 metric tons per person.

 

China had the highest CO2 emissions among G20 countries, while Argentina had the lowest. India's per capita emissions were the lowest among the G20 nations, highlighting its efforts in maintaining a lower carbon footprint.

India's achievement is largely due to the country's agrarian economy and relatively low per capita energy consumption compared to many developed nations. Despite being the most populous G20 country, India's efforts in deploying renewable energy and maintaining lower emissions have been commendable.

The latest International Energy Agency (IEA) report on CO2 emissions provides a comprehensive analysis of global emissions in 2023.

Global Emissions CO2 emissions reached a new record high in 2023, with an increase of 1.1%, increasing 410 million tonnes (Mt) to reach a new record high of 37.4 billion tonnes (Gt). This was driven by weather effects and continued reopening from the COVID-19 pandemic.

Nevertheless, the growth in clean energy technologies, such as renewables, electric vehicles, and heat pumps, helped limit the rise in global emissions.

Emissions from energy combustion increased, while emissions from industrial processes decreased.

Between 2019 and 2023, total energy-related emissions increased around 900 Mt. Without the growing deployment of five key clean energy technologies since 2019 - solar PV, wind, nuclear, heat pumps, and electric cars - the emissions growth would have been three times larger.

Infosys Ordered to Liquidate Its Subsidiary Skava, A Digital Commerce Firm It Acquired for $120 Mn

Skava Pvt. Ltd., a wholly owned subsidiary of Infosys Ltd., was recently liquidated by the National Company Law Tribunal (NCLT) effective from November 14, 2024.

The liquidation of Skava Pvt. Ltd. was ordered by the NCLT. Infosys received a certified copy of the order on November 28, 20241. The NCLT's decision was based on Skava's reclassification from "held for sale" status in 2019 and its net worth of Rs 2.72 crore as of March 31, 2024.

Infosys shares fell by 3.53% following the announcement of Skava's liquidation.

Infosys had initially acquired Skava, a digital commerce firm, for $120 million in 2015 as part of its strategy to enhance digital experiences for clients. However, plans to sell the firm were eventually abandoned, and its assets were repurposed its business as they didn't expect a sale to materialize.

Skava Pvt. Ltd. was a digital commerce firm acquired by Infosys in 2015 for $120 million. The company specialized in providing digital experience solutions for the retail industry. Infosys acquired Skava as part of its strategy to enhance digital experiences for clients through IP-led technology offerings.

Infosys took a cumulative write-off of Rs 451 crore for Skava, including Rs 358 crore towards goodwill and Rs 93 crore towards the value of customer relationships.

Skava Pvt. Ltd. was founded in 2002, by Arish Ali and Arvind Parthasarathy. The company initially focused on providing modern e-commerce capabilities to business clients, offering modular microservices architecture and rich front-end applications.

Skava was primarily backed by accelerator/incubator programs before being acquired by Infosys.

Google Maps, PWD Engineers Booked for Bizarre Incident Killing Three

There have been several incidents where users have faced issues due to incorrect directions provided by Google Maps.

Most recently, three men died after their car plunged off an incomplete bridge while following directions on Google Maps.

In this tragic incident in Bareilly, Uttar Pradesh, three men lost their lives after their car plunged off an under-construction bridge while following directions on Google Maps. The bridge, which had been damaged by floods earlier this year, lacked safety barriers and warning signs. The car fell into the Ramganga River, resulting in the tragic deaths.

 

Image Source - Reddit

The police have booked four engineers from the Public Works Department (PWD) and an unnamed official from Google Maps in connection with the accident. The FIR names two assistant engineers and two junior engineers from the PWD, as well as "unknown persons". A Google spokesperson expressed condolences and confirmed that the company is cooperating with the investigation.

Some unidentified locals who allegedly damaged a protective wall at the site have also been charged.

The FIRs were registered under Section 304A (culpable homicide not amounting to murder) of the Indian Penal Code (IPC).

This incident highlights the importance of accurate and up-to-date information on navigation systems, as well as the need for proper safety measures at construction sites.

Last year in Jakarta, Indonesia, the Indonesian National Transportation Safety Commission (NTSC) reported that several road accidents occurred because drivers followed incorrect routes suggested by Google Maps.

In 2019, a woman was stranded in Death Valley, United States, after Google Maps directed her onto a remote, impassable road. She was rescued after spending several days in the desert.

There have been numerous reports of drivers ending up in dangerous or inappropriate locations due to outdated or incorrect information provided by Google Maps.

These incidents highlight the importance of verifying navigation directions, especially in unfamiliar or potentially hazardous areas. Google continuously works to improve the accuracy of its maps and relies on user feedback to update its data.

Google relies heavily on user feedback to correct and update map data. They encourage users to report errors directly through the app.

Google is said to be actively working to address issues related to incorrect or outdated information on Google Maps and improve user safety.

Google Maps now includes a "Safer Routing" or "Stay Safer" feature that takes into account road conditions, weather, and traffic when providing directions. This helps users avoid potentially dangerous routes.

TCS, IIT Kharagpur to Setup Advanced Research Center Focusing Digital Health, Robotics and Intelligent Systems

Tata Consultancy Services (TCS) and the Indian Institute of Technology Kharagpur (IIT Kharagpur) have partnered to establish an Advanced Research Center focused on digital health, robotics, and intelligent systems. The center is located in the IIT Kharagpur Research Park in New Town, Kolkata.

The center will house three labs specializing in Sensing and Communications, Edge Computing and Analytics, and Robotics and Visual Computing.

Over 150 TCS scientists will work on cutting-edge projects, leveraging edge computing, embedded systems, and Al.

The center will also feature a customer experience center where TCS clients from various industries can gain insights into original research concepts.

Additionally, workshops will be held to foster collaboration between TCS scientists, industry experts, and IIT Kharagpur faculty to solve industry problems.

This partnership aims to drive innovation and address some of the most pressing challenges in healthcare and automation.

Dr Harrick Vin, Chief Technology Officer, TCS, said: “TCS is transforming the way in which industry has traditionally engaged with elite institutes of research and learning. One of our focus areas is to co-locate our research and innovation labs in academic institutions to enable a more efficient exchange of knowledge and talent. We initiated this journey with our move into the IIT Madras Research Park in Chennai a few years back. The establishment of our research and innovation lab at the IIT Kharagpur Research Park is the next step of this strategic journey. At IIT KGP, we are funding several research programs; co-innovating with them will lead to vastly improved outcomes for both parties.”

Professor Virendra Kumar Tewari, Director, IIT Kharagpur, said: “The Advanced Research Center will strengthen our strategic collaboration with TCS, underscored by their presence in the newly established IIT KGP Research Park, Kolkata. This partnership represents a significant leap forward in harnessing cutting-edge technologies to address some of the most pressing challenges in healthcare and automation. By combining IIT Kharagpur’s world-class research capabilities with TCS’s industry-leading expertise, we aim to drive transformative innovations that can enhance quality of life, improve healthcare delivery, and contribute to the growing field of intelligent systems. This center will not only foster groundbreaking research but also create opportunities for interdisciplinary collaborations, empowering the next generation of technologists and researchers to shape the future.”

Besides this research center, TCS has also set up a research and innovation lab at the IIT Madras Research Park in Chennai. And this lab too focuses on areas like digital health, robotics, and intelligent systems.

TCS has also collaborated with IIT Bombay on various research projects, particularly in the fields of data science and artificial intelligence.

DST Selects 8 Quantum & Cyber-Physical Systems Startups for Support under NQM and NM-ICPS

On 26 November 2024, Union Minister Dr. Jitendra Singh announced the selection of eight pioneering startups for support under the National Quantum Mission (NQM) and the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). 

These startups are at the forefront of innovation in quantum technology and cyber-physical systems, and they represent significant strides in fields such as quantum communication, quantum computing, quantum sensing, and quantum materials.

These startups were chosen through a rigorous evaluation process and are expected to make significant contributions to their respective fields.

Here are the eight pioneering startups selected for support under the National Quantum Mission and the National Mission on Interdisciplinary Cyber-Physical Systems:

1. QNu Labs (Bengaluru) - Quantum communication
2. QPIAI India Private Ltd (Bengaluru) Quantum computing
3. Dimira Technologies (IIT Mumbai) Indigenous cryogenic cables essential for quantum computing
4. Prenishq (IIT Delhi) - Precision diode-laser systems
5. QuPrayog (Pune) - Optical atomic clocks
6. Quanastra (Delhi) - Advanced cryogenics and superconducting detectors
7. Pristine Diamonds (Ahmedabad) - Creating Diamond materials for quantum sensing
8. Quan2D Technologies (Bengaluru) - Superconducting Nanowire Single-photon Detectors

These startups are poised to make significant contributions to their respective fields in quantum technology and cyber-physical systems.

Dr. Jitendra Singh

The DST will support the selected startups through a structured framework that includes: Funding Opportunities, Mentorship and Guidance, Infrastructure Support, and facilities to aid in the development and testing of new technologies, among other things.

Categorised by Cities and Institutes:

By Cities:

• Bengaluru:
• QNu Labs
• QPIAI India Private Ltd
• Quan2D Technologies
• Pune:
• QuPrayog
• Ahmedabad:
• Pristine Diamonds
• Delhi:
• Quanastra

By Institutes:

• IIT Mumbai:
• Dimira Technologies
• IIT Delhi:
• Prenishq

These startups represent a diverse range of innovations and specializations in quantum technology and cyber-physical systems.

With this initiative, the Minister remarked, the selected startups are not just participants in a technological mission but torchbearers of India’s ambition to emerge as a global leader in quantum science.

During the event, Union Minister Dr. Jitendra Singh proposed that such initiatives and programs should be held beyond Delhi to ensure broader participation and engagement across the country. He emphasized that taking these events to smaller towns and other regions would provide the youth with a valuable opportunity to witness the advancements in quantum technologies and related fields firsthand.

NVIDIA Develops New AI Model 'FUGATTO', Calls It A Swiss Army Knife for Sound

NVIDIA recently unveiled Fugatto, a generative Al model designed to transform text prompts into audio. Officially named the Foundational Generative Audio Transformer Opus 1, Fugatto is capable of creating music, modifying existing sounds, and even generating speech with specific emotions and accents.

NVIDIA touts Fugatto as the world's most flexible sound machine. This Text-to-Audio (TTA) AI model can create and transform any combination of music, voices, and sounds using text prompts. Fugatto can generate music, modify existing sounds, and even create speech with specific emotions and accents.

NVIDIA has not yet disclosed plans to make Fugatto publicly available due to concerns about potential misuse, such as deepfake audio and copyright infringement.

Key Features:

• Versatility: Fugatto can generate or transform any mix of music, voices, and sounds described with text prompts.
• Applications: It has potential uses in music production, language education, and game development.
• Advanced Capabilities: The model can create speech that conveys specific emotions, like anger, in a chosen accent, or craft soundscapes that evolve over time.
• The model can create soundscapes that evolve over time and produce unique sounds never heard before.

Fugatto was made by a diverse group of people from around the world, including India, Brazil, China, Jordan and South Korea. Their collaboration made Fugatto’s multi-accent and multilingual capabilities stronger.

Similar to NVIDIA's Fugatto TTA, OpenAI's TTS models are part of their broader suite of AI tools, offering high-quality text-to-speech capabilities for different applications. Microsoft Azure's text-to-speech service is integrated into various applications, providing natural and lifelike voices for different languages.

It is to be noted that several other AI companies have also developed impressive text-to-audio models similar to NVIDIA's Fugatto. For an example, ElevenLabs, known for its natural-sounding voices in multiple languages, offers a range of AI audio solutions, including text-to-speech, voice cloning, and dubbing.

Deepgram's Aura model is designed for real-time conversations with less than 200ms latency, making it ideal for applications like IVR systems and AI agents.

WellSaid Labs is a company that provides flexible voiceover tools that convert plain text into emotion-filled speech, suitable for various use cases like presentations and educational content.

How Fugatto TTA is different from Text-to-Speech (TTS) AI Models

NVIDIA's Fugatto stands out from other AI Text-To-Audio (TTS) models due to its versatility and flexibility. Fugatto can combine, interpolate, or negate instructions using both text and audio inputs, allowing for highly customizable audio outputs. This means it can create entirely new sounds never heard before, modify existing tracks by adding or removing instruments, and change accents or emotions in voices.

Unlike models trained solely on audio data, Fugatto can follow free-form text instructions, making it easier to control and fine-tune the audio output.

Fugatto is designed for unsupervised multitask learning in audio synthesis and transformation, which means it can handle a wide range of tasks without needing separate models for each.

The Fugatto model is particularly useful for music producers, ad agencies, language learning tools, and video game developers, offering a new tool for creating and modifying audio content.

These features make Fugatto a powerful and unique tool in the realm of AI-driven audio generation and transformation.

Vedanta Resources Raises $800 Mn from Global Investors Through New Bond Issue

• 1.5x oversubscription, strong demand from US, EMEA & APAC regions.
• Proceeds to be used to prepay Vedanta’s outstanding bonds.
• The issue is expected to be rated B- by Fitch Ratings & CCC+ by S&P Global Ratings.

Vedanta Resources Finance II PLC (VRF) said in a Singapore exchange notification that it has raised US$800 million by issuing new bonds. The issue comprises two tranches of bonds– one with an aggregate principal amount of US$300 million of 10.25% Bonds due 2028 and the other involving an aggregate principal amount of US$500 million of 11.25% Bonds due 2031.

The bonds are expected to be rated “B-” by Fitch Ratings Ltd. and “CCC+” by S&P Global Ratings and will be listed on the electronic platform of Singapore Exchange Securities Trading Limited (SGX-ST). VRF will use the net proceeds from the issuance of the new bonds to prepay Vedanta’s existing bonds.

The bond issue received final combined orders of US$1.19 billion, indicating an oversubscription of 1.5X. The bids were received from existing as well as new set of investors across Asia Pacific (APAC), Europe the Middle East and Africa (EMEA) and US with more than 90% participation from asset / fund managers across both the tranches. As per VRF’s stock exchange notification, the final allocation of the Bonds includes 32% from Asia, 36% from EMEA, and 32% from US for the bonds due in 2028. For the bonds due in 2031, the allocation includes 35% from Asia, 23% from EMEA, and 42% from US.

A spokesperson for Vedanta Resources said “We are delighted by the tremendous response to Vedanta’s $800 million bond issuance. With this, Vedanta has successfully refinanced $2 billion worth of outstanding bonds in the past few months. The huge confidence and trust of the global investor community in Vedanta is reflected in the significant geographical spread and marquee names who have participated in these issuances.

Our commitment towards attaining a balanced capital structure through deleveraging our balance sheet remains our top priority. We have also achieved optimisation of costs on the entire $2 billion, represented by a saving of ~3% p.a. for the Company. We are confident of continuing to deliver substantial value to our global and domestic investors in the years ahead, and we will continue to evaluate all financing options going forward.”

This new issue comes as Vedanta has been gradually deleveraging its balance sheet, improving its capital structure, and lowering its financial costs by tapping bond markets as part of its liquidity management exercise. It is redeeming bonds with higher interest rates and issuing newer ones with a comparatively lower interest rate. Vedanta Resources has reduced its net debt by ~ $1 bn in the first half and refinanced bonds of over US$ 1.2 billion in the current fiscal.

In September, Vedanta raised US$900 million, the company’s first dollar bond issue in more than two years, to prepay existing bonds. The US$ 900 million raise was at a coupon rate of 10.875 percent in a five-year US dollar-denominated bond. Following this, VRF exercised a tap option on its September bond issuance, raising a further US$ 300MN.

NTT DATA to Acquire Udupi, Karnataka-based Niveus Solutions

NTT DATA Announced its Intent to Acquire Niveus Solutions to Bolster Its Google Cloud Capabilities

Japanese multinational IT giant, NTT DATA, has announced its intent to acquire Karnataka, India based Niveus Solutions, a cloud engineering company specializing in Google Cloud Platform (GCP) services. The acquisition deal is expected to close within the next 30-60 days.

Based in Brahmagiri, Udupi, Karnataka, Niveus Solutions specializes in application modernization, data management, cloud consulting, security, and managed services. The company help enterprises harness the power of cloud services to build resilient infrastructures that scale.

This acquisition will bolster NTT DATA's capabilities in Google Cloud and add 1,000 GCP engineering professionals to their team.

Niveus Solutions has a strong track record of delivering transformative, game-changing solutions using Google Cloud Platform (GCP).

This acquisition move will solidify NTT DATA's position as a global system integrator for Google Cloud and help them capitalize on the growing demand for cloud solutions.

Niveus Solutions was founded in 2013 by Suyog Shetty, Rashmi George, Roshan Bava, and Mohsin Khan. The company has since grown significantly and is now a leading provider of cloud engineering services, specializing in Google Cloud Platform (GCP) solutions.

Suyog Shetty, CEO and Co-founder of Niveus Solutions, said, "Niveus Solutions is excited to join forces with NTT DATA. Our team’s dedication to advancing digital transformation on Google Cloud, combined with NTT DATA’s extensive reach and capabilities, strongly positions us to bring modern cloud solutions to new markets to expand the boundaries of cloud innovation."

Charlie Li, Head of Cloud and Security Services, NTT DATA Inc., said, "The acquisition of Niveus Solutions will firmly position us as a leading Google Cloud powerhouse, propelling NTT DATA as one of the world’s largest system integrator partners for Google Cloud. With Niveus Solutions, we are set to redefine possibilities in the AI-driven cloud era, enabling clients to accelerate digital transformations and achieve meaningful business outcomes across industries and geographies."

John Lombard, CEO, NTT DATA, APAC, said, "The Niveus Solutions acquisition significantly advances our Google Cloud partnership and expands our ability to meet the growing demand for AI-powered solutions that drive business growth."

This acquisition comes within a month of NTT DATA's previous acquisition. NTT DATA acquired Aoop, a leading ServiceNow implementation company in Brazil. This acquisition strengthens NTT DATA's position in the Latin American ServiceNow solutions market and complements a recent acquisition in the UK focused on ServiceNow solutions in Europe and the United States. 

SpaceX Plans To Launch 25 Starship Rockets Per Year, Starting in 2025

SpaceX is aiming to significantly increase the launch frequency of its Starship rockets. Currently, SpaceX is allowed up to five launches per year at its Boca Chica facility in Texas. However, the Elon Musk promoted space firm is now planning to ramp up to 25 launches per year starting in 2025.

This increase is part of SpaceX's broader ambitions to make space travel more frequent and accessible, including missions to the moon and Mars.

The Federal Aviation Administration, or FAA, recently released an environmental assessment draft of SpaceX's proposal to boost the number of annual launches, as it continues to ramp up its test flights.

To operate at a faster cadence, SpaceX must obtain a new license or a license modification from the FAA to launch and land the Starship, as well as its Super Heavy booster.

The Revised Draft Tiered Environmental Assessment (EA) for SpaceX's proposal to increase the launch frequency of its Starship/Super Heavy vehicle at the Boca Chica Launch Site in Cameron County, Texas, was released by the Federal Aviation Administration (FAA) in November 2024.

The FAA is currently reviewing SpaceX's proposal and conducting an environmental assessment to ensure that the increased launch frequency will not have significant negative impacts. The review evaluates the potential environmental impacts of increasing the number of launches and landings from the current limit of five per year to up to 25 per year starting in 2025.

Although the launches would start at the company's Starbase, landings could happen on a floating platform in various locations, including the Gulf of Mexico, the Pacific Ocean or the Indian Ocean, according to the draft.

The FAA is considering issuing a new license or modifying the existing license for SpaceX to operate the Starship/Super Heavy Vehicle.

The completion of the environmental review process does not guarantee that the FAA will issue a license modification to SpaceX, as the application must also meet safety, risk, and financial responsibility requirements.

Notably, this year in July-August Texas Commission on Environmental Quality (TCEQ) has found that SpaceX repeatedly polluted waters in Texas, violating the Clean Water Act. This could impact SpaceX's plans to increase Starship launches from its Starbase facility.

Environmental Protection Agency (EPA) has also notified SpaceX of violations related to wastewater discharge, which could also affect their launch operations.

In 2024, SpaceX conducted two Falcon Heavy launches and three Starship test flights. The Falcon Heavy is one of SpaceX's most powerful rockets, designed for heavy-lift missions, while the Starship is being developed for future missions to the Moon, Mars, and beyond.

10 Leading AI Innovation and Research Centres in India

India's growth in AI innovation and research centers is not only driving technological advancements but also creating job opportunities and fostering innovation across various sectors.

For an uninitiated, AI innovation and delivery centers are specialized facilities that focus on developing and deploying artificial intelligence technologies. These centers often house advanced computing infrastructure, research labs, and development teams working on cutting-edge AI projects. These centers play a crucial role in advancing AI technologies and bringing innovative solutions to market.

Since start of this decade, India is rapidly emerging as a global center for AI innovation and data center growth. The country's data center industry is expected to grow by 66% by 2026, with significant investments from global tech giants like Google, Microsoft, and Amazon.

India is home to a significant number of Al innovation and research centers, spread across various cities. While the exact number may vary, there are at least 25 Technology Innovation Hubs established under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). Additionally, there are several Al research labs and Centers of Excellence (CoEs) focused on healthcare, agriculture, and sustainable cities.

Here are some of the leading AI innovation and delivery centers in India:

1. Robert Bosch Centre for Data Science and AI at IIT Madras:

Focuses on leveraging data science and AI for impactful decisions across various domains.

Established in 2017, RBCDSAI aims to leverage data science to provide actionable, reliable, and impactful insights across various domains such as engineering, finance, and healthcare. The center focuses on areas like safety and stability preserving reinforcement learning, network representation learning, and learning with limited and partial data.

2. NV AI Centre at IIT Hyderabad:

Established, in 2020, in collaboration with NVIDIA, this center accelerates AI research and commercial applications. This center aims to accelerate research on artificial intelligence and its commercial adoption.

The center is equipped with NVIDIA DGX-1TM and DGX-2TM systems, providing powerful computing resources for AI research. The center collaborates with industry partners to drive innovation and apply AI solutions to real-world challenges.

3. Intel AI Research Centre at IIT Hyderabad (INAI) :

A collaboration between Intel India and IIT Hyderabad to apply AI to solve challenges in healthcare and smart mobility. Launched in October 2020, INAI aims to drive innovation and entrepreneurship in AI, focusing on high-impact research for social sector development.

The center provides national scale computing infrastructure, tools, and frameworks to facilitate advanced AI solution development. It aims to develop human capacity in advanced AI technologies by attracting talented researchers from around the world.

4. AI Innovation Hub at Accenture:

The AI Innovation Hub at Accenture India is a key part of Accenture's global network of innovation hubs. Located in Bengaluru and Hyderabad, these hubs are designed to help clients co-innovate and co-create solutions using advanced technologies like AI, automation, blockchain, and more.

These AI innovation hubs house state-of-the-art labs and studios where clients can experience real innovation in action. Clients can work alongside Accenture's experts to rapidly prototype and scale disruptive products and services.

The Bengaluru hub includes a generative AI studio that focuses on optimizing business processes and enabling enterprise reinvention. The hubs are part of Accenture's extensive global network, connecting clients with innovation centers in cities like Toronto, Tokyo, and New York.

5. AI Kriya at IIT Hyderabad:

The AI Kriya at IIT Hyderabad is a dedicated center for research and innovation in artificial intelligence, established with the support of JICA (Japan International Cooperation Agency) and Honeywell. The center aims to serve the computing and resource needs of researchers working on AI projects at IIT Hyderabad.

6. Centre of Excellence in Artificial Intelligence (CoEAI) at IIT Kharagpur:

Leverages decades of research in AI for fundamental and applied AI projects. Established in April 2018, CoEAI focuses on fundamental and applied AI research, leveraging over three decades of IIT Kharagpur's contributions to AI.

The center also supports entrepreneurship in AI, helping to build a vibrant community of Innovators.

7. Infosys Centre for Artificial Intelligence at IIIT Delhi:

The Infosys Centre for Artificial Intelligence (CAI) at the Indraprastha Institute of Information Technology (IIIT) Delhi was established in 2016 with support from Infosys Limited. The center focuses on research and development in various AI fields, including autonomous vehicles, AI in healthcare, AI in robotics, AI in mobility, and satellite navigation.

The Centre conducts research on real-life AI problems and aims to expand the horizons of science for the benefit of humanity. The center has produced several products and publications, contributing to global AI advancements.

SICKLE, a multi-sensor satellite imagery dataset annotated with key cropping parameters, is one of the notably projects under the aegis of Infosys Centre for Artificial Intelligence at IIIT Delhi.

8. DAIR at IIT Delhi:

A research center dedicated to AI and machine learning research.

The Data Analytics and Intelligence Research (DAIR) Group at IIT Delhi is a research group within the Department of Computer Science and Engineering. DAIR is dedicated to advancing the field of data analytics and intelligence through rigorous research and collaboration.

The group focuses on various aspects of data analytics and artificial intelligence, including machine learning, natural language processing, and information extraction.

The group has several repositories on GitHub, where they share their research code and projects. DAIR hosts a weekly seminar series where members and interested participants can discuss ongoing research and developments in the field.

9. CFILT Lab at IIT Bombay:

Focuses on computational and financial engineering, and AI research.

The Centre for Indian Language Technology (CFILT) at IIT Bombay is a leading research center in the field of Natural Language Processing (NLP). Established with a grant from the Department of Information Technology, Ministry of Communication and Information Technology, Government of India, CFILT focuses on developing technologies for Indian languages.

CFILT works on lexical resources, lexical and structural disambiguation, shallow parsing, cross-lingual information retrieval, machine translation, text entailment, and sentiment analysis

The center has developed several notable projects, including the Hindi WordNet, Marathi WordNet, and Sanskrit WordNet.

CFILT also work on projects like Shabdamitra for Hindi and Marathi language learning.

10. CAIR at DRDO, Ministry of Defence, Government of India:

A center for AI research aimed at defense applications.

The Centre for Artificial Intelligence & Robotics (CAIR) at the Defence Research and Development Organisation (DRDO), Ministry of Defence, Government of India, is a premier laboratory involved in research and development in the areas of Artificial Intelligence (AI), Robotics, Command and Control, and Information and Communication Security.

CAIR aims to add value to information by delivering dependable information systems to the Defence services for battle space dominance.

The center focuses on developing technologies that ensure relevance, security, safety, resiliencv. survivability, and and trustworthiness for mission-critical applications.

CAIR develops mission-critical products for battlefield secure communication and information management systems.

These centers are at the forefront of AI research and innovation in India, contributing to advancements in various fields.

Notably, Global Capability Centers (GCCs) have evolved from cost-efficient offshore service centers to critical innovation hubs. These GCCs are leading advancements in AI, cloud computing, and data science.

Besides, India's data center industry is expected to grow by 66% by 2026, with significant investments from global tech giants like Google, Microsoft, and Amazon. Cities like Chennai, Bangalore, Mumbai, and Hyderabad are becoming key data center hubs.

Indian government-led Vision 2047 aims to position the country as a leader in AI and data center infrastructure. The country ranks fourth globally in AI research output, and its data center market is projected to reach $11.85 billion by 2029.

India's growth in AI innovation and delivery centers is not only driving technological advancements but also creating job opportunities and fostering innovation across various sectors.

NVIDIA-backed SpaceTech Startup TakeMe2Space To Launch India's 1st AI Lab in Space Aboard PSLV C60

TakeMe2Space (TM2Space), an innovative space technology firm based in Hyderabad, India, is set to launch India's first Al laboratory in space, known as MOI-TD (My Orbital Infrastructure Technology Demonstrator), aboard ISRO'S PSLV C60 rocket in mid-December 2024.

MOI-TD aims to make space data more accessible, real-time, and affordable for researchers, students, and small businesses.

TakeMe2Space is part of NVIDIA Inception, a programme that nurtures startups revolutionising industries with technological advancements. Under NVIDIA Inception, startups gain access to NVIDIA's advanced hardware and software, including GPUs, deep learning frameworks, and AI tools.

The space laboratory, MOI-TD, will demonstrate real-time data processing in orbit, making space research more affordable and accessible. Thus, by processing data directly in space, MOI-TD has the potential to revolutionize industries like telecommunications, agriculture, and environmental monitoring.

MOI-TD enables real-time data processing in orbit, reducing the need for extensive ground-based data transmission and significantly lowering costs associated with space research. The platform supports applications such as environmental monitoring, deforestation tracking, maritime activity observation, and greenhouse gas emission detection.

Interestingly, a web-based console, OrbitLab, will allow users to upload AI models to the satellite platform and customize Earth observation use cases. TakeMe2Space is currently inviting interested ones to apply for waitlist.

The platform has already secured research partners, including a leading Malaysian university and a group of 9th and 10th graders from an Indian school.

MOI-TD

The satellite features flexible solar cells, AI accelerators, advanced radiation shielding, and an onboard computer.

Notably, MOI-TD is the technical demonstration version of the MOI-1 satellite. The MOI-1 satellite is a CubeSat designed and manufactured, Indegenously in India, by TM2Space. The satellite's mission is to allow users to take images of Earth and conduct space experiments.

The mission serves as a technology demonstrator for scalable, cost-effective orbital infrastructure, paving the way for future space-based computing capabilities.

TakeMe2Space (TM2Space) was founded in June 2023 by Ronak Kumar Samantaray and three of his friends. The space technology company is based in Hyderabad, India, and is driven by a vision to democratize space and make it accessible to everyone.

The space technology startup aims to build AI-first compute infrastructure in space. It designs and manufactures satellite hardware and have developed platforms such as OrbitLab and OrbitView to democratise access to space-based experiments and Earth observation.

Scientists Discover Evidence of 'Negative Time'

Imagine you have a magic trick where something strange happens with light. In a recent scientific experiment, researchers observed something very unusual with tiny particles of light called photons.

Photons are tiny particles of light that travel through different materials. Researchers experimented by sending these photons through a super-cold material made of rubidium atoms.

In a strange observation, some photons seemed to come out of the material before they actually went in. This is like a person leaving a room before they entered it!

This strange behavior is called "negative time." It doesn't affect our everyday experience of time, but it's very interesting for scientists studying the very tiny, quantum world.

The Experiment

Researchers from the University of Toronto conducted an experiment involving photons and ultracold rubidium atoms. They observed that some photons appeared to exit the material before they even entered it, suggesting a negative transit time.

The researchers observed that photons, the basic particles of light, appeared to exit a material before entering it, defying traditional notions of time. This unusual behavior was detected as the photons passed through a cloud of ultracold atoms, where their journey seemed to end before it had even begun.

Aephraim Steinberg, a physicist at the University of Toronto, in a post on X (formerly Twitter) about the new study, which was uploaded to the preprint server arXiv.org on September 5 and has not yet been peer-reviewed.

Woo-hoo!

It took a positive amount of time,
but our experiment observing that photons can make atoms seem to spend a *negative* amount of time in the excited state is up!

It sounds crazy, I know, but check it out!
Kudos to Daniela +the rest of the team!https://t.co/rHrAUJq5rX pic.twitter.com/Lz7Lazb1Gs

— Aephraim Steinberg (@QuantumAephraim) September 6, 2024

This phenomenon, known as atomic excitation, occurs when photons absorbed by a material experience a time delay before exiting due to their interactions with atoms within it. In this case, the transit time of some photons was negative, making it seem as though they exited the material before entering it.

These findings challenge established theories of time in quantum mechanics, hinting that under certain conditions, time may function in unconventional ways.

While this discovery doesn't impact our everyday understanding of time, it does raise intriguing questions about the nature of time in the quantum realm. It's a fascinating development that could inspire further research in quantum physics.

LTIMindtree and Microsoft Partner To Fast-Track Adoption of AI Solutions

LTIMindtree and Microsoft have formed a strategic alliance to accelerate Al-driven digital transformation for global enterprises

This partnership leverages LTIMindtree's industry expertise and Microsoft's cutting-edge Al technologies to help businesses transition from experimentation to meaningful outcomes.

The collaboration aims to fast-track the adoption of Al solutions and transform ambitious Al visions into actionable strategies. The collaboration also aims to enhanced customer experiences by embedding Al as a core business enabler, the partnership focuses on enhancing customer experiences, optimizing operations, and enabling data-driven decisions.

Microsoft and LTIMindtree will make joint investments in AI-powered solutions and create a joint go-to-market strategy.

Initiatives like Microsoft Copilot for Security and Sunshine Migrate are part of this collaboration, focusing on cyber defense and data modernization.

This partnership is poised to drive significant advancements in AI-led digital transformation, offering faster innovation, intelligent decision-making, and real-time insights that unlock new levels of growth and operational efficiency.

At the heart of this partnership is LTIMindtree’s vision of “AI in Everything, Everything for AI, AI for Everyone”. This philosophy centers on making AI not just accessible, but actionable for businesses. Whether it’s enhancing customer experiences, optimizing operations, or enabling data-driven decisions, the focus is on embedding AI as a core business enabler that scales innovation.

“This partnership with LTIMindtree highlights our dedication to work with partners, to deliver secure AI solutions that empower organizations to transform and thrive,” said Julie Sanford, Vice President, Business Management, at Microsoft. “With Microsoft AI services like Copilot and Azure OpenAI Service, LTIMindtree is poised to drive significant advancements in AI-led digital transformation”, she added.

“Through our strategic alliance with Microsoft, we’re bringing our AI vision to life in ways that truly drive results,” said Rohit Kedia, Chief Growth Officer, LTIMindtree. “The narrative isn’t just about adopting technology; it’s about transforming how businesses think, operate, and compete in the AI era. For our customers, this means faster innovation, more intelligent decision-making, and real-time insights that unlock new levels of growth and operational efficiency”, he added. 

HCLTech and Intel Collaborate to Launch Enterprise Data Security Service

HCLTech, a leading global technology company, today launched an advanced data and cloud compute security solution to enable enterprises to securely handle sensitive information with high data integrity and confidentiality.

HCLTech DataTrustShield, was developed to protect sensitive data during cloud operations, leveraging trusted execution environments (TEEs) including Intel® Trust Domain Extensions (Intel® TDX) and Intel® Trust Authority. Key benefits include secure data sharing across platforms, scalability, enhanced compliance and robust protection for applications and intellectual property. The solution is designed for organizations requiring strong data security in collaborative and cloud environments while maintaining operational efficiency. The solution has been tested on Google Cloud and in the future, will be integrated with other hyperscalers.

"HCLTech Data TrustShield offering is a major step forward in data security, delivering high levels of protection. By harnessing Intel's advanced technology, the offering secures digital assets and enhances confidence and trust in cloud environments,” said Anand Swamy, EVP & Head of Tech and ISV Ecosystem, HCLTech.

"Intel’s Confidential Computing technology and Trust Authority attestation services enhance security and assurance for compute environments. Our collaboration with HCLTech highlights our commitment to help customers transition to the cloud while maintaining data privacy and adhering to zero trust principles,” said Purnam Sheth, VP/GM of Trust and Security Services, Intel.

HCLTech is a global technology company, home to more than 218,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of 12 months ending September 2024 totaled $13.7 billion. To learn how we can supercharge progress for you, visit hcltech.com.

IBM Unveils Its Latest AI Models - Granite 3.0 & The Bee Agent Framework

Technology giant IBM has recently introduced its latest AI models, Granite 3.0 and the Bee Agent Framework.

Granite 3.0 is a compact and efficient Al model designed to run on devices as accessible as a Mac, making it suitable for businesses of all sizes. It's trained on over 12 trillion tokens across 12 human languages and 116 programming languages, and it's available on platforms like GitHub, Hugging Face, and IBM WatsonX.This model is particularly useful for tasks like coding, summarization, and entity extraction.

The Bee Agent Framework allows developers to create versatile Al agents with minimal changes to existing models. It supports models like Llama 3.1 and can be customized using languages such as JavaScript or Python

IBM is also emphasizing transparency in AI development by publicly sharing Granite's training datasets. This move aims to make AI more accessible and trustworthy for businesses.

IBM's focus on transparency and open-source innovation is evident in these new offerings, aiming to make AI more accessible and foster collaboration across industries.

Largest FDI by An Indian Pvt Co. in Bhutan: Reliance Power to Develop Large-Scale Solar & Hydro Power Projects

Anil Ambani's Reliance Power has partnered with the Government of Bhutan to develop large-scale solar and hydro power projects. This collaboration is part of Bhutan's efforts to achieve its net-zero goals and enhance its renewable energy infrastructure.

This partnership represents the largest FDI by an Indian company in Bhutan's renewable energy sector. The projects will support Bhutan's goal of sustainable development and clean energy production.

The investment by Reliance Power in partnership with the Government of Bhutan for the development of solar and hydro power projects is up to $1 billion.

Reliance Power Ltd. and Druk Holding will co-develop the 770-MW Chamkharchhu-1 Hydro Project, which is classified as a run-of-the-river project under a concession model aligned with Bhutan’s policies.

Druk Holding and Investments (DHI) is the commercial arm of the Royal Government of Bhutan, established in 2007. Its primary purpose is to hold and manage the existing and future investments of the Royal Government for the long-term benefit of the people of Bhutan. DHI aims to grow its investment portfolio by 10x by 2030, focusing on future-oriented investments.

In this joint venture, Reliance Power will hold a 49 percent stake, while DHI will maintain majority ownership with a 51 percent share. The project will operate under a concession model in line with the government’s policies.

Key Projects:

1. 500 MW Solar Power Plant: This will be developed in Gelephu Mindfulness City, Bhutan, in two phases of 250 MW each over the next two years 2. Once completed, it will be the largest solar installation in Bhutan 2

2.770 MW Chamkharchhu-1 Hydroelectric Project: This run-of-the-river project aims to boost Bhutan's existing power capacity.

A media release confirmed that land for the project has already been earmarked, and a technical team, consisting of experts from Reliance, DHI, and external consultants, is currently conducting site assessments and technical studies. The project is set to become one of the largest investments in Bhutan’s renewable energy sector and represents the largest FDI by an Indian company in Bhutan.

Earlier in August this year, Tata Power, one of India's largest integrated power companies, has had entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC), a subsidiary of DHI, and the sole generation utility of Bhutan for the development of the 600 MW Khorlochhu Hydropower Project.

Govt-owned Prasar Bharati Launches Its Own OTT Platform 'WAVES' to Rival Netflix, Jiostar and Amazon Prime

Prasar Bharati, India's national public broadcaster, recently launched its new OTT platform called WAVES. The platform aims to offer a diverse range of content, including classic shows like Ramayan and Mahabharat, contemporary programming, live events, educational content, and more.

Chief Minister of Goa Dr.Pramod Sawant launched ‘WAVES’ the OTT platform of the national public broadcaster, Prasar Bharati at the opening ceremony of 55th International Film Festival of India (IFFI) in Goa, on 20 November 2024. Shri Sanjay Jaju, Secretary I&B, among other dignitaries was also present on the occasion.

Over 65 live channels, movies, interactive games, live events, and even online shopping are available on WAVES. Available in over 12 languages, including Hindi, English, Tamil, Marathi, and Assamese.

‘WAVES’ makes its entry as a large aggregator OTT with Inclusive India stories embracing Indian culture with an international outlook. It will be spread across 10+ Genres of Infotainment. It will provide Video on demand, free-to-play gaming, Radio streaming, Live TV streaming, 65 live Channels, several App in App integrations for video and gaming content, and online shopping through Open Network for Digital Commerce (ONDC) supported e-commerce platform.

WAVES has three tiers subscription plans —Platinum, Diamond, and Gold, with varying features and pricing.

The Prasar Bharati OTT app is Free to download and view content, with subscription fees for premium content.

WAVES cover live events like the US Premier League Cricket Tournament and religious events like Prabhu Shriram Lalla Aarti from Ayodhya.

WAVES aims to provide a rich viewing experience by blending traditional favorites with innovative new content across multiple genres. It's designed to cater to a wide audience, including those in rural areas, through the BharatNet infrastructure. 

OpenAI To Develop Its Own Web Browser to Take on Google Chrome

OpenAl is reportedly considering developing its own web browser to rival Google Chrome. This potential move reflects OpenAl's ambition to expand its footprint beyond Al development, leveraging its technological expertise to disrupt established industries.

The planned new browser would integrate OpenAl's advanced language models, such as GPT, directly into the browsing experience, offering users intelligent search and assistance capabilities. Features like automated summarization, real-time translation, and context-aware search could set the browser apart.

Further, OpenAI's proposed web browser would emphasize privacy and personalization to differentiate itself from existing browsers like Google Chrome. The new browser will reportedly have enhanced encryption protocols to ensure that user data is protected. With Minimal Data Collection, the proposed OpenAI browser would have commitment to collect only essential user data, with a focus on user consent and transparency.

OpenAl has already discussed plans with several website and app developers, including Condé Nast, Redfin, Eventbrite, and Priceline, to build the web browser.

OpenAI is also in talks with Samsung to integrate its Al features into Samsung devices, which could challenge Google's stronghold in the mobile market. The Samsung collaboration aims to bring features like ChatGPT and other AI technologies to millions of Samsung users, potentially rivaling Google Assistant. The partnership could also extend to Samsung's upcoming AR smart glasses and other device.

To recall, messaging app Telegram launched its own in-app browser, in August this year, that supports multiple tabs, making Web3 available to almost a billion users. It also launched a Mini App Store.

Notably, several tech companies are working on new and innovative web browsers to challenge the dominance of existing ones like Google Chrome and Safari.

Arc 2.0, by The Browser Company, is a browser designed to be more than just a web browser, aiming to become a user's primary computing interface. It integrates AI to streamline browsing processes, such as renaming downloads, summarizing web content, and allowing users to ask ChatGPT questions directly from the URL bar.

Browsers like Google Voice Control, Mozilla Scout, and LipSurf are expected to become mainstream, offering a new way to browse the web using voice commands.

Besides the new browser, OpenAl is also developing a new series of reasoning models called OpenAl 01, designed to solve complex problems in science, coding, and math. These models are trained to spend more time thinking through problems before responding, similar to how a human would.

KPMG Invests $100 Mn in Its Alliance With Google Cloud

KPMG has announced a $100 million investment in its alliance with Google Cloud to accelerate the adoption of generative Al, data analytics, and cybersecurity among Fortune 500 companies and global enterprises.

This expanded partnership is expected to drive $1 billion in incremental growth for KPMG.

The investment will focus on developing new solutions to help clients solve complex business challenges, with an initial emphasis on data modernization and responsible Al adoption in sectors like consumer and retail, healthcare, and financial services.

KPMG and Google Cloud announced their alliance in April 2024 when KPMG established a Google Cloud Center of Excellence (CoE) to align its product development, industry expertise, and technical resources for enterprises. 

KPMG said that bookings for KPMG's Google Cloud practice have increased tenfold over the past two years, reflecting the growing demand for cloud and AI solutions.

The expanded alliance will focus on data modernization and responsible AI adoption across various industries, with an initial emphasis on consumer and retail, healthcare, and financial services.

The alliance will bring Vertex AI and Gemini models to financial services clients, helping automate processes like fraud detection, financial crime detection, and commercial lending.

Besides this alliance with Google, KPMG has also formed alliances with other major cloud service providers to enhance its Al and digital solutions offerings. For instance, in July 2023, KPMG announced a $2 billion commitment over five years to expand its Al and cloud services through a partnership with Microsoft. This collaboration aims to integrate Microsoft's Al tools, such as OpenAl Service and Azure Al Search, into KPMG's proprietary generative Al tool.

Additionally, other Big Four accounting firms like PwC, Deloitte, and EY have also built partnerships with various tech giants, including Google Cloud, Microsoft, and Amazon Web Services (AWS), to leverage Al and other digital solutions for their clients.

BHEL vs BEL Stocks Performance Overview

Two major engineering and electronics companies listed on the Indian stock market are Bharat Heavy Electricals Limited (BHEL) and Bharat Electronics Limited (BEL), respectively. Both state-owned businesses have become quite important players in India's defense capabilities and infrastructure growth. To help readers make smart choices, this article offers a thorough review of their stock performance, financial situation, and market outlook.

Company Profiles

Bharat Heavy Electricals Limited (BHEL)

Originally established in 1964, BHEL is the biggest manufacturing and engineering company in the energy sector in India. The organization specializes in manufacturing thermal, hydro, nuclear, solar, and thermal power plants. Having a presence in more than 88 countries, BHEL is dedicated to furthering India's self-reliance goals using major technological and research and development (R&D) investments. Its product offerings include power transformers, thyristor valves, and gas-insulated switchgear.

Bharat Electronics Limited (BEL)

Originally established under the Ministry of Defence in 1954, BEL is dedicated to meeting the specific electronic requirements of the Indian Armed Forces. It has evolved over the years into civilian products while still focusing on defense technologies mostly. BEL provides radar systems, missile systems, electronic warfare technology, and communication systems. With nine manufacturing facilities all throughout India, the company has developed into a multi-product conglomerate.

Stock Performance Comparison

Depending on their operational domains and market conditions, BHEL and BEL have seen different stock performances.

Market Capitalization

• BHEL: Approximately ₹77,893.76 Cr
• BEL: Approximately ₹2,05,441.33 Cr

BEL's market capitalization reflects investor confidence and strong demand for its products, so it much exceeds that of BHEL.

Financial Performance Highlights

In terms of profitability, BHEL has encountered challenges. For instance, its Price-to- Earnings (P/E) ratio is rather high at 174.77 but its Return on Capital Employed (ROCE) is only 3.18%. This suggests that, given growing running expenses, investors are skeptical of BHEL's earning potential. Current trends suggest that the BHEL share price has displayed swings inside a range of ₹219.66 to ₹226.35 as investors keep a close eye on its performance.

With a ROCE of 33.71% and a P/E ratio of 45.26 BEL has a far better financial profile. These numbers imply that BEL is making more profit than BHEL using its capital, thereby suggesting effective utilization of it. The company's strong foundations and constant demand for its defense products have shown more consistency in the BEL share price.

Recent Financial Results

In recent quarters:

In September 2024, BHEL recorded net sales of ₹6,584.10 Cr. However, expenses exceeded sales by ₹6,369.19 Cr.

In contrast, BEL maintained profitability despite increased expenditures, with net sales of ₹4,604.90 Cr and expenses of ₹3,316.14 Cr during the same period.

Shareholding Patterns

Both companies' shareholding pattern shows investor confidence:

BHEL

• Promoters hold 63.17% of shares.
• Foreign Institutional Investors (FIIs) account for 9.49%.

BEL

• Promoters hold 51.14%.
• FIIs have a more substantial presence at 17.27%, indicating greater foreign interest in BEL.

SWOT Analysis

BHEL

• Strengths: It has been able to secure a place in the market and it is supported by the government.
• Weaknesses: The company does not make much profit and it incurs very high expenses for operation.
• Opportunities: There are chances for growth in the renewable energy sector.
• Threats: Tough competition experienced from private sector players coupled with changing market trends.

BEL

• Strengths: High profits and no debts.
• Weaknesses: Difficulty in diversifying due to reliance on military contracts.
• Opportunities: Increased demand for defense technology at home and abroad.
• Threats: Political issues affecting military budgets.

Conclusion

All things considered, BHEL and BEL present special investment prospects shaped by their different operational strengths and challenges. While BHEL is dealing with profitability challenges due to competitive pressures in the energy industry, the company stands out for its solid financial metrics and growth prospects in the military sector.

Based on their particular risk tolerance and investment goals, investors should give careful consideration to these factors while assessing purchases in either firm. Comparisons between BHEL and BEL's financial situations and business approaches show how important it is to do one's homework before putting money into a company.

Disclaimer: This article is for informative purposes only and does not provide financial advice or suggestions for investment decisions. Before deciding on any stock market investment, always do thorough research or speak with a financial advisor.

TRON Founder Justin Sun Buys A Banana for $5.2 Mn

Justin Sun, a prominent figure in the cryptocurrency world, and the founder of TRON, a blockchain-based platform that aims to decentralize the web by creating a more efficient and cost-effective internet, is in news because of the his recent weird purchase of an artwork called "Comedian".

"Comedian" is a conceptual artwork by Italian artist Maurizio Cattelan, created in 2019 . The piece consists of a banana duct-taped to a wall. It gained significant attention and sparked debates about the nature of art and value.

TRON Founder, Sun, who is a known for his bold and sometimes controversial actions such as the recent one of purchasing a banana duct-taped to a wall, for $6.2 million, which includes auction house fees of $1 million.

The artwork was first presented at Art Basel Miami Beach in 2019, where it quickly became a cultural sensation. It sold for an astounding $6.2 million at a Sotheby's auction this month, purchased by Justin Sun. He paid using cryptocurrency and received a certificate of authenticity, which grants him the right to replace the banana as it decays.

I’m thrilled to announce that I’ve bought the banana🍌 !!! @SpaceX @Sothebys I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million. This is not just an artwork; it represents a cultural phenomenon… pic.twitter.com/lAj1RE6y0C

— H.E. Justin Sun 🍌 (@justinsuntron) November 21, 2024

"Comedian" is often seen as a commentary on the art market and society's perception of value. It has been compared to other groundbreaking works in art history, such as Marcel Duchamp's "Fountain" and Damien Hirst's "The Physical Impossibility of Death in the Mind of Someone Living".

Justin Sun, of TRON, said "the piece represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community." But he said the latest version of "Comedian" won't last long.

"Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture," Sun said.

Sun has been involved in various other projects, including acquiring the company BitTorrent and launching the TRX token. He has also served as the Permanent Representative of Grenada to the World Trade Organization (WTO) from 2021 to 2023.

However, Sun has faced legal challenges, including a lawsuit from the U.S. Securities and Exchange Commission (SEC) in 2023, which accused him and his companies of fraud and other securities law violations.

Tata Power Secures $4.25 Bn in Financing From Asian Development Bank (ADB) for Key Clean Energy Projects

Tata Power has signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) to secure $4.25 billion in financing for key clean energy projects. 

This agreement was signed at the COP29 climate conference in Baku, Azerbaijan.

This MoU aligns with India's ambitious target to achieve 500 GW of non-fossil power generation capacity by 2030.

Dr. Praveer Sinha, CEO & MD, Tata Power said, “Our collaboration with the Asian Development Bank is a crucial step as we explore innovative financing solutions to drive transformative power sector projects. This MoU reinforces our commitment to advancing India's clean and renewable energy capacity and modernizing our power infrastructure, ensuring sustainable and inclusive growth. These initiatives align with India’s ambitious clean energy goals, contributing to energy security and environmental resilience.”

ADB Director General for Private Sector Operations Suzanne Gaboury said, “ADB is committed to fostering partnerships that promote sustainability and energy security across Asia and the Pacific. As part of this strategy, our engagement with Tata Power reflects a shared vision for a low-carbon, inclusive, and climate-resilient future, supporting India’s transition toward sustainable energy solutions.”

Key Projects

966 MW Solar-Wind Hybrid:

• Project: This project aims to combine solar and wind energy to provide a stable and sustainable power source.
• Pumped Hydro Storage Projects: These projects will help store energy for later use, enhancing the reliability of renewable energy sources.

Battery Storage Solutions:

Investing in advanced battery storage to support the integration of renewable energy into the grid.

Distribution Network Upgrades:

Financing capital expenditure to strengthen Tata Power's distribution networks.

Goals:

• Energy Security: Enhancing India's energy security by increasing the share of renewable energy in the power mix.
• Environmental Resilience: Supporting India's transition to a low-carbon, climate-resilient future.
• Inclusivity: Integrating gender and climate actions to empower women as economic agents in deploying green technologies and accessing green jobs.

This partnership aligns with India's ambitious target to achieve 500 GW of non-fossil power generation capacity by 2030. 

Modi Govt's Extensive Digitization Drive Elimininates 5.8 Crore Fake Ration Cards Through e-KYC

Prime Minister Narendra Modi -led Indian government's extensive digitization drive has successfully eliminated 5.8 crore (58 million) fake ration cards through Aadhaar-based authentication and e-KYC verification. This initiative is part of the broader effort to reform the Public Distribution System (PDS), which serves 80.6 crore beneficiaries.

The digitization efforts have significantly reduced leakages and ensured that food grains reach the intended beneficiaries.

The One Nation One Ration Card scheme allows beneficiaries to access their rations anywhere in India using their existing cards.

The government has deployed 5.33 lakh electronic Point of Sale (e-PoS) devices at fair price shops to facilitate Aadhaar-based verification during distribution.

The Union Food Ministry said that almost all of the 20.4 crore ration cards have been digitalized, with 98.7% of beneficiaries’ credentials being validated through biometric identification and 99.8% being connected to Aadhaar.

This digital transformation has set a global benchmark for state-sponsored food security initiatives, ensuring targeted delivery to genuine beneficiaries while eliminating ghost cards and fake entries from the system.

ISRO and Australian Space Agency ASA Sign Agreement for Gaganyaan Mission

On November 20, 2024, the Indian Space Research Organisation (ISRO) and the Australian Space Agency (ASA) signed an Implementing Arrangement (IA) to strengthen cooperation in space activities. This agreement focuses on crew and crew module recovery for ISRO's Gaganyaan missions. 

ISRO's ambitious human spaceflight programme, Gaganyaan, aims to demonstrate human spaceflight capability in Low Earth Orbit with an Indian crew module. The programme includes three un-crewed missions, with the first scheduled for 2024-25.

ISRO & ASA sign Implementing Arrangement for Gaganyaan

The first crewed mission is planned for 2025-27.

The IA enables Australian authorities to support ISRO in search and rescue operations and recovery of the crew module in case of contingencies near Australian waters.

This agreement further solidifies the strategic partnership between India and Australia in space exploration.

It may be recalled that ISRO and the Australian Space Agency (ASA) have had several collaborations over the years, focusing on various aspects of space technology and exploration.

In 2012, ISRO and ASA signed an inter-governmental Memorandum of Understanding (MoU) for cooperation in civil space science, technology, and education. This MoU laid the foundation for future collaborations between the two agencies.

During the Bengaluru Space Expo in 2023, ISRO and ASA facilitated the signing of six Memorandums of Understanding (MoUs) with space technology entrepreneurs from both countries. These MoUs focused on cooperative space flights, product integration, testing, and technology development.

In June this year, NewSpace India Limited (NSIL), a Govt. of India company under the Department of Space and the commercial arm of ISRO and Space Machines Company, an Australian-Indian in-space servicing firm, have signed a landmark Dedicated Launch Service Agreement.

Beside the Govt operated space agencies, private companies and startups from India & Australia have also been collaborating with each other. In September, Australian Space tech company Space Machines Company, and India's Ananth Technologies and Digantaara partnered to conduct cooperative space flights and work together on product integration, testing, and technology development.

Indian space technology startup SatSure also collaborated with Space Machines to develop satellite and AI-based solutions to assist the agricultural, mining, and defense sectors in space[

Another Space technology startups Skyroot Aerospace and Australia's QL Space teamed up to build launch pads in Australia and conduct cooperative mineral exploration flights.