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Zomato Hits New 52Week High as Q3FY24 Net Profit Soars 283%

In the wake of Zomato Ltd.s impressive results in the quarter ended December 2023, the companys shares shot up to a new 52week high of Rs 151.45. The

In the wake of Zomato Ltd.s impressive results in the quarter ended December 2023, the companys shares shot up to a new 52week high of Rs 151.45. The companys net profit increased by an astounding 283% from quarter to quarter, from Rs 36 crore to Rs 138 crore during the same time last year. Because of Zomatos remarkable rise in operating revenue, positive adjusted EBITDA, and substantial success in its quickcommerce subsidiary, Blinkit, most analysts are optimistic about its future. Jefferies continues to recommend the company as a "buy," estimating that over the following years, delivery revenue would expand at a compound annual growth rate of 25% to 30%. Kotak Institutional Equities highlights Zomatos rising margins and steady growth trajectory to support its optimistic outlook. Read More..

B2B Tech News | 2 months ago          

LICs Standalone Net Profit Surges 49% in Q3FY24, Shares Soar Over 6%

After LIC announced a 49% yearoveryear increase in standalone net profit for Q3FY24, hitting Rs 9,444 crore, the companys shares shot up more than 6%.

After LIC announced a 49% yearoveryear increase in standalone net profit for Q3FY24, hitting Rs 9,444 crore, the companys shares shot up more than 6%. LIC is now the fourth most valuable domestic listed firm, with a market valuation of about Rs 7.43 lakh crore, thanks to this development. From the stocks March 2023 52week low, it has increased by about 120%. Additionally, LIC announced an interim dividend of Rs 4 per share, the first since the companys May 2022 Dalal Street launch. Important growth indicators were new business value and Annual Premium Equivalent APE. In contrast, GNPA declined, and the solvency ratio increased. AUM increased 11.98% YoY to Rs. 49.66 lakh crore. Read More..

B2B Tech News | 2 months ago          

Baidu and Lenovo Team Up to Integrate AI Technology into Smartphones

Baidu has teamed up with the company to include its generative Artificial Intelligence AI technology—more specifically, the Ernie Large Language Mod

Baidu has teamed up with the company to include its generative Artificial Intelligence AI technology—more specifically, the Ernie Large Language Model LLM—into Lenovo handsets. This partnership is reminiscent of previous arrangements with Samsung and Honour. Lenovo, the company that also controls Motorola, plans to include Ernie in its cellphones, expanding its market reach beyond tablets and PCs. The decision is in line with the expanding trend of AI functions offered in smartphones, which is propelled by apps like realtime translation and chatbots. Due to restrictions on U.S. AI services in China, Chinese enterprises dominate the industry even as global players like Google and Apple pursue AI integration. To build useful AI apps, Baidu will use smartphone cooperation to improve its LLM technology and collect valuable data. Experts predict AIpowered capabilities will become indispensable in smartphones, such as locating Baidu favourably in the evolving landscape. Read More..

B2B Tech News | 2 months ago          

FCC Strengthens Battle Against Robocalls, Declares AI Voices "Artificial" and Prohibited

Since AIgenerated voices are now considered "artificial" and are thus forbidden in automated phone schemes, the Federal Communications Commission FCC

Since AIgenerated voices are now considered "artificial" and are thus forbidden in automated phone schemes, the Federal Communications Commission FCC has increased the intensity of its antirobocall campaign. This announcement states that Artificial Intelligence AI cloned voices are subject to the Telephone Consumer Protection Acts current ban on prerecorded and artificial communications, even if it doesnt create any new regulations in this area. This action is a reaction to recent highprofile incidents that have brought attention to the need to address developing technology utilised in unlawful calls, such as a spoof from President Bidens robocall. Even as the regulatory environment struggles with emerging technology, the FCC hopes to reinforce enforcement against such deceptive activities and dissuade future breaches by clearly classifying AIgenerated voices as prohibited. Read More..

B2B Tech News | 2 months ago          

Akamai Introduces Content Protector to Combat Scraping Attacks and Safeguard Business Growth

Content Protector is a technology that Akamai Technologies, Inc. revealed to stop scraping assaults while maintaining genuine traffic vital to busines

Content Protector is a technology that Akamai Technologies, Inc. revealed to stop scraping assaults while maintaining genuine traffic vital to business expansion. Although scraping bots is helpful for business, they may also be used maliciously for counterfeiting and competitive undercutting. By providing customized detections such as protocol and applicationlevel evaluations, user interaction analysis, and risk categorization, Content Protector finds and eliminates evasive scrapers. By detecting illicit behaviour, Content Protector protects intellectual property, reputation, and prospective revenue streams without impeding legitimate users. Senior Vice President and General Manager at Akamai Rupesh Chokshi emphasizes the solutions ability to shield companies from the adverse effects of content scraping while promoting digital growth goals. Read More..

B2B Tech News | 2 months ago          

Persistent Systems and Microsoft Launch Advanced Generative AIPowered Population Health Management Solution

Persistent Systems and Microsoft introduced a stateoftheart Population Health Management PHM solution driven by Generative AI to improve patient care

Persistent Systems and Microsoft introduced a stateoftheart Population Health Management PHM solution driven by Generative AI to improve patient care and increase healthcare provider efficiency. The solution improves patient outcomes and care recommendations by identifying Social Determinants of Health SDoH from Electronic Health Records EHR data using Microsoft Azure OpenAI Service and Dynamics 365 Customer Insights. The system effectively improves healthcare outcomes by reducing emergency visits and readmissions by up to 60% through advanced predictive risk modelling and communitybased interventions. Persistent Systems, a longstanding partner, reiterates its dedication to providing cuttingedge digital solutions by utilising Microsoft platforms to promote operational effectiveness and individualised healthcare. Read More..

B2B Tech News | 2 months ago          

Max Life Insurance Achieves 70% Performance Boost with Oracle Exadata Database Service Migration

Application performance was increased by up to 70% when Max Life Insurance moved its crucial database workloads to Oracle Exadata Database Service on

Application performance was increased by up to 70% when Max Life Insurance moved its crucial database workloads to Oracle Exadata Database Service on Oracle Cloud Infrastructure OCI. In conjunction with relocating the core system, this action raised the uptime of business services to about 99% and enhanced system performance by almost 30%. Max Life complied with regulations and improved business continuity by utilising OCIs Hyderabad and Mumbai regions. Efficiency was maximised by using OCI solutions, such as compute and storage. This migration, completed in less than five months by Infolob Global, demonstrates Max Lifes dedication to using cloud technologies for scalability, agility, and enhanced customer experience, in line with Indias rapidly expanding insurance market and fostering corporate expansion. Read More..

B2B Tech News | 2 months ago          

Tata Consumer Products Quarterly Earnings Report Surpasses Expectations Despite Profit Dip

Following the release of the companys quarterly results report, traders are expected to watch Tata Consumer Products Ltd TCPL shares on Thursday. TCPL

Following the release of the companys quarterly results report, traders are expected to watch Tata Consumer Products Ltd TCPL shares on Thursday. TCPL reported betterthanexpected sales across all three categories, with a 10% yearoveryear rise despite a 17.3% yearoveryear reduction in net profit. Substantial operational success was shown by the 26% yearoveryear increase in EBITDA. With a target price of ₹1,305 per share, global brokerage firm Morgan Stanley kept its Overweight rating on TCPL despite its sales exceeding projections across all segments. With improvements in market share across several categories, TCPL witnessed a notable margin boost, primarily due to its Indiabranded food and beverage division. Notably, it maintained its market leadership in tea, and its ecommerce sales accounted for 10.7% of the companys India business. Read More..

B2B Tech News | 2 months ago          



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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