Additionally within the letter:
■ AI banking assistants
■ Companions Group goes procuring
■ Sebi curbs sting stockbrokers
ONDC mulls subsidy comeback amid slowdown in meals supply
The Open Community for Digital Commerce (ONDC) is planning a fresh subsidy push to woo meals supply prospects, simply months after pulling the plug on earlier incentives. The federal government-backed community is trying to earmark Rs 100-150 crore for the initiative, sources informed us.
Low cost push: If cleared, the subsidy will enable platforms comparable to Magicpin, Paytm, Ola Client, and Waayu to supply deeper reductions to customers. The incentives are prone to be rolled out in phases, based on these accustomed to the matter.
Eating places eye new routes: India’s meals supply market remains to be dominated by Zomato (owned by Everlasting) and Swiggy. Excessive commissions have pressured many eating places to discover cheaper alternate options.
Logistics stay a hurdle: Analysts reckon that regardless of the subsidy rethink, ONDC’s most vital problem stays last-mile supply. Karan Taurani, govt vp at Elara Capital, mentioned that reductions may spike order volumes within the quick run, however received’t drive long-term progress until core operational gaps are fastened.
Additionally Learn: Uber to offer logistics services through ONDC network
World headwinds take a toll on TCS income in June quarter
Ok Krithivasan, CEO, TCS
Tata Consultancy Providers (TCS) reported a modest profit rise in the June quarter, whilst world demand faltered. Executives blamed geopolitical tensions, financial uncertainty and provide chain disruptions for the sluggish prime line.
Q1 efficiency:
- Income: Up 1.3% year-on-year (YoY) to Rs 63,437 crore, however down 3.1% in fixed forex.
- Internet revenue: Rose 6% to Rs 12,760 crore.
- Deal wins: Complete contract worth stood at $9.4 billion.
- Working margin: At 24.5%, up 30 foundation factors (bps) quarter-on-quarter, however down 20 bps YoY.
- Attrition: Rose slightly to 13.8%, from 13.3% within the earlier quarter.
Tariff troubles: TCS is feeling the warmth within the US, its greatest market, the place tariffs are hindering IT spending. With synthetic intelligence looming as a disruptor, restoration stays elusive. North America income fell 2.7%, dragged by delayed decision-making.
Additionally Learn: Dollar’s slide may help IT add 70–300 basis points to Q1 revenues
Deal? No deal: Different areas didn’t fare significantly better. Europe declined 3.1%, whereas India noticed a 21.7% income droop, following the completion of a big BSNL venture.
CEO communicate: “It may very well be too early to name out when progress will resume,” mentioned CEO Ok Krithivasan, including that he expects higher traction in worldwide markets later this fiscal.
“Mega offers are at all times lumpy… we didn’t have any in FY25. It’s very tough to supply an outlook on these massive offers, however we’re engaged on a few them,” he added.
Additionally Learn: TCS paid CEO K Krithivasan Rs 26.5 crore in FY25
Tata Elxsi Q1 revenue drops as gross sales take successful
Tata Elxsi, one other Tata Group firm, reported a significant drop in first-quarter profit as income declined throughout the interval because of macroeconomic pressures.
Q1 efficiency:
- Income: Fell 3.7% year-on-year (YoY) to Rs 892 crore.
- Ebitda: Dropped 26% to Rs 187 crore.
- Internet revenue: Declined 22% YoY to Rs 144 crore.
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How might (A)I allow you to? Lenders, NBFCs faucet agentic AI to serve prospects
Banking and non-banking monetary companies (NBFCs) are leveraging agentic AI, notably voice-driven instruments, to sharpen their customer support capabilities, from onboarding to question decision.
Driving the information:
- Startups like Hyperface, Gnani.ai, and Yellow.ai are constructing next-gen voice AI brokers that don’t simply reply, however emulate human tones to make conversations really feel pure.
- These instruments transcend conventional IVR and machine learning-based bots, enabling banks to scale back operational prices by as much as 50%.
- Early use circumstances embrace dealing with queries round bank cards and primary account companies.
Scaling rapidly: Bajaj Finance, certainly one of India’s largest lenders, is doubling down on tech. It not too long ago picked up a stake in Protectt.ai, a cell safety startup. Equally, Aurinpro has acquired Arya.ai to strengthen its AI choices for banking purchasers.
Challenges persist: India has roughly 44 GenAI startups centered on voice and speech. Nonetheless, regulatory readability is lagging. Specialists say that the foundations governing using AI in delicate areas, comparable to debt assortment, stay unclear, delaying rollouts and elevating considerations about shopper safety.
Maintaining Depend
Veo 3 on Gemini, Google’s newest AI video mannequin able to producing life like, high-quality movies from textual content or picture prompts, was first launched at Google I/O in April and arrived in India only a week in the past. The web large has now added a photo-to-video function to additional increase its inventive capabilities. (Supply: Google)
Different High Tales By Our Reporters
Shrikant Ravalkar, founder, Infinity Fincorp Options
Companions Group acquires Infinity stake: Swiss funding large Companions Group is ready to acquire a majority stake in Mumbai-based non-bank lender Infinity Fincorp Options for Rs 1,950 crore (roughly $230 million).
F&O reins price stockbrokers customers: The entire energetic consumer base of main Indian stockbroking platforms fell to 29.5 million in June from 30.5 million in February as market regulator Sebi curbed futures and choices (F&O) trades and market volatility.
Vertical AI alternative for Indian startups: A latest report by AI startup accelerator Upekkha highlighted {that a} value benefit and 20 years of IT companies experience position Indian startups favourably to faucet into the vertical AI alternative.
World Picks We Are Studying
■ Meta is making an attempt to win the AI race with cash — however not everybody will be purchased (The Verge)
■ Cloning got here to polo. Then issues bought actually uncivilised (Wired)
■ Politics and USAID cuts put a telehealth program on life assist (Rest of World)
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