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- Bit by Bit 20th November || Mark Zuckerberg predicts that WhatsApp and Messenger will lead the next round of sales growth. || India to become worlds 3rd largest economy by 2030 says Adani & m
Bit by Bit 20th November || Mark Zuckerberg predicts that WhatsApp and Messenger will lead the next round of sales growth. || India to become worlds 3rd largest economy by 2030 says Adani & m
So, here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET UPDATE
(Markets were closed on 19/11/2022, Saturday)
ECONOMY
Key Facts
• Adani Group's Founder & Chairman on Saturday claimed that India will become the world's third-largest economy by the end of 2030 and become 2nd largest economy by 2050.
• On renewable energy, the industrialist said that the combination of solar and green power, coupled with green hydrogen would open up "great" opportunities for the future.
• By 2050, India will become a $30 trillion economy, he added.
The Story
Adani groups founder and chairman Gautam Adani said India is on track to become the 3rd largest economy by 2030 and second largest by 2050 at the World Congress of Accountants 2022 in Mumbai on Saturday.
He also said that the next three decades would propel India to the forefront of entrepreneurship. Regarding renewable energy, the industrialist noted that the combination of solar and green power, combined with green hydrogen, would provide "great" future prospects. "By 2050, there is potential for India to become a net exporter of Green Energy” he added.
Adani praised Prime Minister Narendra Modi's Central government initiatives and expressed confidence in India's growing economy.
Adani also commented on India’s rapid GDP rise, "It took 58 years to get our first trillion dollars of GDP; 12 years to get the next trillion, and just 5 years to get the third trillion."
He predicted that over the next decade, India will begin to add a trillion dollars to its GDP every 12-18 months. He added that by 2050, India's economy will be a $30 trillion economy. "With our stock market capitalization that would possibly exceed $45 trillion," Adani stated.
FMCG
The markets were experiencing a regular weekly options expiry day. The most Put OI and Call OI had accumulated since the session's start at the strikes of 18,300 and 18,400, respectively. On Thursday, this image persisted throughout the meeting. As a result, the NIFTY was guaranteed to stay in this range for the duration of the trading day. The main index closed with a loss of 65.75 points (-0.36%), below the 18,400 barrier, without exhibiting any directional bias.
The frontline index is consolidating at the moment, although there is stock-specific trading activity visible in the markets. TATACONSUM was unable to rise significantly over the Rs 825 mark. For several months, the stock has faced heavy resistance at this level. The price did once succeed in breaking through this level, but it was short-lived and the breakout level was soon broken. Additionally, it fell below the 200-DMA. But over the past month, the stock has been consolidating in a fairly clear and constrained range, continuously finding support at the 200-DMA, which is currently at Rs 764.63.
A sizable white candle has formed following the most recent price movement. TATACONSUM has also been making an effort to break free of this consolidation zone. This enormous candle's appearance close to a significant 200-DMA support area emphasises the veracity of that support zone. The stock is likely to challenge the Rs 810–Rs 820 levels in the upcoming days, according to the technical data displayed in the charts. This notion will be refuted by any movement below Rs 763.
AUTOMOTIVE
The Story:
The income tax department on Friday carried out search and seizure operations at the premises of MG Motor India.
According to sources, the raid began at the company’s Corporate office in Gurugram around 3:00 PM and continued till the story is filed.
The latest development comes in light of heightened scrutiny by law-enforcement agencies on companies operating in India which have links with neighboring country, China.
A British brand, MG Motor was acquired by China's largest automaker SAIC Motor Corp (Shanghai Automotive Industry Corporation), and entered the Indian market to launch its first car here in 2019.
In July, China’s Great Wall Motor had to shut shop after failing to get the Centre’s clearance for its USD 1 billion FDI proposal.
According to earlier reports, the Ministry of Corporate Affairs (MCA) asked the carmaker to explain certain alleged irregularities in its books in the beginning of November.
TECH
The Story
CEO of Meta Platforms Inc. Mark Zuckerberg assured staff that the company's next wave of revenue growth will be driven by WhatsApp and Messenger in an effort to allay financial worries following Meta's first round of mass layoffs.
The firm stated on Wednesday that it will lay off 13% of its personnel, or more than 11,000 workers, as part of a move to lower operating expenses at the social networking platform. Zuckerberg expressed regret and accepted responsibility for these actions. The employment cuts at Meta will be the first in the 18-year history of the business. Some customers may communicate and conduct business with businesses using chat applications thanks to Meta, including a new feature unveiled on Thursday in Brazil.
Since announcing a long-term goal to develop an immersive metaverse last year, Zuckerberg has substantially invested in extended reality hardware and software. According to him, capital expenditures were Meta's second-largest expense, with the great majority going to infrastructure to support its family of social networking apps. Personnel costs were Meta's top expense.
Want a BIT More?
Fentanyl addiction vaccine now ready for human testing
Key Facts
Synthetic opioid mortality increased by more than 50% between 2019 and 2020, reflecting the recent sharp increase in the illicit production of fentanyl.
Drug overdoses claim the lives of more than 70,000 Americans every year.
According to data, over 10 million Americans misused prescription opioids in 2019, 1.6 million had an opioid medication use disorder, and over 70,000 died from drug overdoses
The Story
Researchers may have just discovered a potent new weapon in the ongoing fight against the opioid epidemic: a vaccine that could stop fentanyl from entering the brain. The new vaccine was created by a team from the University of Houston, who claim it could do away with the euphoria brought on by fentanyl.
Because of its potency, fentanyl is frequently added to other illegal substances to increase its cost and potency. Fentanyl, however, is incredibly lethal and can be fatal in dosages as low as two milligrams. The research team from the University of Houston discovered, as reported in the journal Pharmaceutics, that the fentanyl in rats' brains could be targeted by antibodies in the vaccination, although both the research and the vaccine had their limitations. First off, other opioids like morphine were unaffected by the antibodies, which primarily targeted fentanyl and fentanyl derivatives. Second, although the researchers intend to finish human clinical studies shortly, the vaccine has only been tested on rats.
