Insights
Sarvam AI Turns Unicorn After Raising $234 Million with HCLTech as Lead
India's burgeoning sovereign Artificial Intelligence (AI) landscape is witnessing significant investor interest, as highlighted by Sarvam AI's recent Series B funding round. The startup has successfully raised a massive $234 million, catapulting it into the coveted unicorn club. HCLTech, a major player in the Indian IT services sector, led the investment, acquiring a substantial 10.46% stake for Rs 1427 crore, positioning itself as a key strategic partner. This development underscores the growing momentum in India's AI startup ecosystem and the race to build indigenous AI capabilities. Sarvam AI now joins Krutrim as one of the few Indian AI startups to achieve this milestone. This influx of capital and strategic backing signifies strong confidence in the future of Indian AI innovation and its potential impact on the broader technology market and digital economy.
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Insights
New Market Closing Timings Begin Today: What Every Trader Should Know
- Non-F&O stocks will stop normal trading at 3:15 PM under the revised market timings.
- F&O stocks continue trading till 3:30 PM before the closing auction session begins.
- Equity derivatives will now trade until 3:40 PM, extending market hours by 10 minutes.
Insights
Oil PSU Q1 Losses Far Below ₹75,000 Crore Fears, Easing Pressure
- Oil PSU June quarter losses stayed well below the government's ₹75,000 crore estimate.
- Lower under-recoveries and timely policy measures helped limit financial impact on PSUs.
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