As many as 84 per cent of Indian chief executive officers (CEOs) are raising new capital or re-allocating from other budgets to fund generative artificial intelligence (GenAI) so that they have an edge against rivals, said a report on Thursday.

Worldwide, 70 per cent of CEOs believe that there is a need to act quickly on GenAI to avoid giving their competitors a strategic advantage.

The Centre is gearing up to cover all the targeted beneficiaries of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) by January 26, a monumental job given that it entails bringing 270 million more people into the fold of its flagship health scheme, reported LiveMint.

The plan is part of the new guidelines provided to all central ministries and agencies in charge of various welfare schemes to speed up the "saturation" of beneficiaries, which means covering all intended individuals.

Ashok Leyland, the country’s leading commercial vehicle manufacturer, said on Thursday it has won an order from the Tamil Nadu government for providing 552 Ultra-Low Entry (ULE) diesel non-AC buses.

Ashok Leyland, the Indian flagship company of the Hinduja Group, said the Tamil Nadu State Transport Corporation (TNSTC) already operates 18,477 of its buses.

AstraZeneca Pharma India Limited on Thursday said it will launch Trastuzumab Deruxtecan, also known as Enhertu, which is used in the treatment of HER2-positive breast cancer, in January 2024.

The company received clearance from the Central Drugs Standard Control Organisation (CDSCO) to import and sell Enhertu in May 2023.

Fintech company PhonePe on Thursday announced a new section on its platform for users to view their credit bureau score.

The company said users can use the section, which is on the homepage of the PhonePe app, without any additional cost to manage their credit or Rupay cards, repay loans or pay credit card bills.

Indian equity benchmarks witnessed wild swings on Wednesday, with both the S&P BSE Sensex and the National Stock Exchange Nifty hitting new highs intraday but ending the session with the biggest losses in many months amid profit booking.

Concern about the rise in Covid cases and elevated valuations in midcap and smallcap stocks also weighed on sentiment.

Japan’s Sumitomo Mitsui Banking Corporation (SMBC) is lending $120 million to Tata group’s Air India to purchase an A350-900 aircraft from Airbus.

The transaction was done at Gujarat International Finance Tec-City (GIFT City) with the assistance of Air India’s wholly owned subsidiary AI Fleet Services Ltd. It is part of Air India’s order of 470 aircraft placed earlier this year, said SMBC in a statement.

Ford Motor will not sell its Tamil Nadu plant, the automaker's sole remaining factory in India, after finalising a deal with the Sajjan Jindal-led JSW Group.

Commenting on the recent developments, a Ford India spokesperson said, “We continue to explore alternatives for our manufacturing facility in Chennai and have nothing further to share.”

The Delhi government is on the verge of formalising a policy for the release of overage vehicles impounded by the Transport Department, in line with Delhi High Court's directives, an official told PTI late Tuesday. The proposed policy closely aligns with the court's guidelines, intended to impose fines of Rs 5,000 for two-wheelers and Rs 10,000 for four-wheelers to facilitate the release of impounded vehicles.

Vehicles parked in public spaces or on roads may be impounded by enforcement teams.

DOMS Industries, a leading Indian stationery player, made a blockbuster stock market debut with its shares listing at Rs 1,400, a whopping 77 per cent premium to the issue price of Rs 790 per share on the National Stock Exchange (NSE) and BSE.

Post listing, the stock hit a high of Rs 1,415 and a low of Rs 1,370.05 on the NSE. At 10:01 AM; DOMS Industries was trading at Rs 1,384.80, up 75 per cent against its issue price. Around 6 million equity shares had changed hands on the NSE and BSE.

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