The Indian realty sector saw 22 deals at $1.8 billion in the April-June quarter (Q2) in FY25, an uptick in both volume and value signalling a substantial inflow of investment into the sector, a report showed on Thursday.

The quarter was characterised by the dominance of commercial development, residential development activity, private equity influence and technological integration.

Commercial development dominated the overall deal activity, accounting for 37 per cent of the volumes and an impressive 75 per cent of the values, according to the report by Grant Thornton Bharat.

“The first half of 2024 has already reached close to the total deal value of 2023 and has seen a marked increase in private equity investments and high-value transactions, reflecting renewed investor confidence and robust economic recovery,” said Shabala Shinde, Partner and Real Estate Leader.

With the urban population projected to reach 600 million by 2031, the future of India’s real estate market appears promising, fuelled by sustainable and technology-driven advancements, Shinde added.

The mergers and acquisitions (M&A) activity saw seven deals at $123 million, a 133 per cent increase in volumes and a whopping 248 per cent increase in values from the previous quarter.

The private equity (PE) activity saw a 33 per cent increase in volumes and a 757 per cent increase in values, with 12 deals at $1.4 billion, the report noted.

There were two IPOs with a combined issue size of $88 million, compared to no IPO activity in Q1 of 2024. AGENCIES

 LG Electronics said on Thursday it aims to achieve over 1 trillion won ($725.2 million) in sales from its smart factory solution business by 2030, leveraging its artificial intelligence technologies and manufacturing expertise.

This year, the South Korean home appliance giant entered the smart factory solution market, offering technologies and services to transform traditional manufacturing facilities into automated and digitised smart factories.

LG Electronics highlighted its extensive experience and data in the smart factory solution sector, accumulated through its production technology research lab, LG PRI. The lab has undertaken projects on production customisation and manufacturing operation development for LG affiliates, including LG Energy Solution and LG Display Co.

It is part of the South Korean tech company’s recent moves to advance its digital transformation strategy, aiming to evolve into a software-based platform company beyond its traditional hardware focus.

“This year, LG PRI is expected to secure orders worth 200 billion won from companies outside of LG Group,” LG Electronics said. “We aim to expand the smart factory solution business to achieve more than 1 trillion won in sales by 2030.”

The company said its customers include secondary battery producing companies, auto parts makers and logistic companies.

LG Electronics plans to accelerate its business expansion by targeting industries with rising factory demand, such as pharmaceuticals, biotechnologies, and food and beverages.

According to market research firm Precedence Research, the global smart factory market is projected to grow from $155.6 billion in 2024 to $268.5 billion by 2030. AGENCIES

 India’s largest insurance company, LIC’s shares railed 78 per cent over the last one year, following strong operational performance or positive sentiment for PSU shares among the investors.

LIC (Life Insurance Corporation of India) share price was Rs 1,101 at 12:30 p.m. on Thursday, which was Rs 620 on July 18, 2023.

The company’s revenue in the financial year 2023-24 has been Rs 8.46 lakh crore, which was Rs 7.84 lakh crore in the financial year 2022-23. During this period, the company’s profit increased from Rs 35,997 crore to Rs 40,885 crore.

Talking about other insurance sector stocks, HDFC Life Insurance has given negative returns of about two per cent. In the last one year, the share price of HDFC Group’s life insurance company has declined from Rs 656 to Rs 645.

SBI Life Insurance has given returns of about 24 per cent in the last one year. Its share price is Rs 1628, which was Rs 1,314 on July 18, 2023.

ICICI Prudential Life Insurance shares have given a return of 12 per cent in the last one year. Its share price on July 18, 2024 was Rs 642, which was Rs 574 on July 18, 2023. AGENCIES

The evolution of smartphone camera technology continues at an electrifying pace. No longer satisfied with simply increasing lens quantity, manufacturers have shifted their focus to achieving unprecedented zoom capabilities.

At the forefront of this evolution is the periscope lens, a technology previously confined to professional-grade cameras, which is now being integrated into consumer-level smartphones.

This year has witnessed a marked increase in flagship devices incorporating this advanced lens technology, including realme’s own flagship offering, the 12 Pro+ 5G earlier this year.

The integration of periscope camera technology into smartphones is a complex and costly endeavour, typically reserved for premium flagship models.

And until the release of the 12 Pro+ 5G, the use of periscope lenses was confined to the priciest top-of-the-line smartphones due to their high cost.

realme, however, defied expectations, bringing this technology to a wider market with the 12 Pro+ 5G. This dedication to innovation is evident in the phone earning the coveted title of No. 1 Camera Smartphone in its category on Flipkart.

Building on the success of the 12 Pro Series 5G, realme is set to redefine smartphone photography yet again with the highly anticipated 13 Pro Series 5G.

Positioned as the “ultra clear camera with AI,” this upcoming flagship, launching this month, boasts a groundbreaking feature: a 50MP periscope telephoto camera powered by the Sony LYT-600 sensor.

This makes the realme 13 Pro Series 5G the only device in its segment to offer such advanced camera technology, a bold move that further solidifies realme’s reputation as a camera powerhouse, bringing a coveted flagship feature to a wider market.

This AI-powered camera can even enhance older photos, breathing new life into pictures of your grandparents from their youth or shots taken on basic phones a decade ago.

This isn’t just a spec bump; it’s a gateway to a new level of mobile photography. The periscope lens, with its 3x optical zoom and a 73mm equivalent focal length, unlocks “next-level clear portrait photography,” capturing stunning images with a naturally flattering perspective.

The addition of 6x in-sensor zoom further enhances creative possibilities, allowing for a wider range of compositions. But realme’s commitment to innovation doesn’t stop at portraits.

The 13 Pro Series 5G also boasts an astounding 120x SuperZoom, leveraging the periscope lens’s superior light-gathering capabilities and realme’s advanced AI algorithms to capture “ultra clear distant shots” with incredible detail — a feat previously unimaginable in this price segment.

This is made possible by the Sony LYT-600 sensor’s larger single-pixel size and improved light sensitivity, which work together to deliver significantly clearer and brighter images, especially in challenging low-light conditions.

And despite packing such advanced technology, the realme 13 Pro Series 5G doesn’t compromise on comfort. realme has engineered the lightest periscope lens solution in the industry, ensuring the phone remains enjoyable to hold for everyday use.

With the 13 Pro Series 5G, realme isn’t just delivering a phone with impressive specs; it’s offering a tangible example of its commitment to making cutting-edge technology accessible to everyone. By integrating a periscope lens — a feature typically reserved for premium devices — into a more affordable segment, realme is empowering users to capture professional-quality photos and explore new creative possibilities.

The 13 Pro Series 5G is a testament to realme’s mission of democratising innovation and redefining what a smartphone camera can achieve.

So, get ready to upgrade your realme device – only on July 30. AGENCIES

 Samsung said on Thursday it has acquired the British artificial intelligence (AI) and knowledge graph tech startup Oxford Semantic Technologies in a bid to strengthen its in-device AI capabilities.

The South Korean tech giant did not disclose financial terms of the deal, reports Yonhap news agency.

Established in 2017 by Oxford University professors Ian Horrocks, Boris Motik and Bernardo Cuenca Grau, Oxford Semantic Technologies specialises in cutting-edge knowledge representation and semantic reasoning technology.

Knowledge graph technology, which stores information as an interconnected web of related ideas, processes data similarly to human memory and reasoning. This technology is crucial for developing sophisticated and personalised AI solutions by integrating and connecting personal data on habits and usage patterns.

Oxford Semantic Technologies has successfully commercialised its knowledge graph technology, optimising data processing and enabling advanced reasoning both in the cloud and on-device.

Its AI-centric engine, RDFox, collaborates with organisations across Europe and North America in sectors such as finance, manufacturing and e-commerce.

Samsung said that Oxford Semantic Technologies’ expertise in knowledge graphs will significantly enhance its on-device AI technology, particularly in the latest Galaxy S24 smartphone series. This integration aims to offer a more personalised user experience while securing personal data on the device.

The technology will also be applicable across Samsung Electronics’ extensive product range, from mobile devices to TVs and home appliances. AGENCIES

 French drug major Sanofi Healthcare India has announced plans to make an investment of about Rs 3,600 crore (400 million euros) in its Global Capacity Centre (GCC) in Hyderabad over the next six years. 

About 900 crore (100 million euros) will be invested by 2025.

The company also plans to create 1,600 more jobs by 2026.

“The Hyderabad GCC will expand to host approximately 2,600 employees over the next two years, making it the largest of Sanofi’s four global hubs,” said Madeleine Roach, Executive Vice President of Business Operations at Sanofi, at a press conference.

Set up in 2019, the GCC in Hyderabad is Sanofi’s largest among four GCCs globally — Budapest, Malaysia, and Colombia. It also consists of a workforce of 1,000 employees.

From being just a medical hub the facility has grown exponentially to providing various services to the firm’s global functions and affiliates across the world, Roach stated.

With the expansions, the company aims to increase its presence in India and enhance its global operations.

The move is expected to provide employment to around 2,600 people, making it again the largest among Sanofi’s global hubs.

It is also expected to become the first Artificial Intelligence (AI) powered biopharma company.

It will likely hire tech profiles like data scientists, and software engineers, among others. AGENCIES

 Indian equity indices opened in the red on Thursday following profit-booking midcap and smallcap stocks.

At 9:46 a.m., Sensex was down 102 points or 0.13 per cent, at 80,608 and Nifty was at 24,588, down 17 points or 0.07 per cent.

Selling is being seen in the midcap and smallcap. Nifty midcap 100 index is down 482 points or 0.77 per cent, at 57,181.20 and Nifty smallcap 100 index is 168 points or 0.89 per cent, at 18,893.

Among the sectoral indices, Auto, metal, realty, media, and PSE are the major losers. FMCG and pvt bank are the major gainers.

Sun Pharma, HCS Tech, Infosys, TCS, Axis Bank, SBI, and M&M are the top gainers in the Sensex pack. Asian Paints, Bajaj Finance, Tata Steel, UltraTech Cement, NTPC, JSW, Reliance, HDFC Bank and NTPC are the top losers.

Deven Mehata, Research Analyst at Choice Broking, said, “Nifty can find support at 24,550 followed by 24,500 and 24,400. On the higher side, 24,650 can be an immediate resistance, followed by 24,700 and 24,800.”

The foreign institutional investors (FIIs) extended their support as they purchased equities worth Rs 1271 crore, while domestic institutional investors extended their selling as they sold equities worth Rs 529 crore, on July 16.

Mixed trading is taking place in Asian markets. There is a decline in Tokyo, Shanghai, and Seoul, while the markets of Hong Kong, Bangkok and Jakarta are in the green. US markets closed mixed on Wednesday. AGENCIES

 Three children were among the seven people killed in a fire tragedy in Nice, French Interior Minister Gerald Darmanin said in a post on X.

“Last night in Nice a fire killed seven people, including three children. The rapid action of the firefighters made it possible to avoid many additional victims. The police will shed light on the circumstances of this terrible tragedy,” the minister said.

“The rapid action of the fire department prevented many more casualties,” he said, adding that an investigation is underway to find out the circumstances that led to the fire, Xinhua news agency reported.

According to local media, the building that caught fire is located in Moulins district of Nice.

A total of 25 fire engines and 72 firefighters were pressed into service to douse the fire. AGENCIES

 Electronics manufacturers on Thursday urged the government to prioritise comprehensive support for the local manufacturing of electronics, including the television industry, on the lines of mobile devices.

While mobile phone manufacturing has benefited from numerous incentives, the TV manufacturing sector, despite contributing nearly $12 billion to the economy, is yet to get its due, they said.

“The long-awaited production-linked incentive (PLI) scheme should extend its benefits to televisions or provide alternative manufacturing incentives, particularly for smart TVs,” said Arjun Bajaj, Director of the home-grown manufacturer, Videotex.

Additionally, the classification of TVs larger than 32 inches under the GST slab for luxury goods is outdated.

“Televisions are no longer a luxury item but a necessity for over 200 million households in India. Revising this GST classification would make TVs more affordable, thereby boosting the sector and making these essential devices more accessible to a broader population,” suggested Bajaj.

The industry is reliant on imports for critical components like semiconductors and display fabs, predominantly sourced from China and Taiwan.

While the government has initiated efforts to establish semiconductor manufacturing in India, it is crucial to expedite these projects and also focus on developing domestic display manufacturing capabilities, said industry players.

Avneet Singh Marwah, CEO, Super Plastronics Pvt Ltd (SPPL), said simplifying GST rules, investing in job training and changing tax brackets for consumers are essential steps.

“Keeping the 15 per cent corporate tax rate for new manufacturing ventures would attract both local and international businesses to set up shop in India. Additionally, expanding the PLI scheme in the electronics sector can help Indian manufacturers grow,” he told IANS.

One expected move, suggested Marwah, is to reduce the GST rate on LED TVs larger than 32 inches from 28 per cent to 18 per cent.

“This change aims to boost consumer spending in the electronics sector. Expanding PLI schemes to include smart TVs, refrigerators, and washing machines is also important for market growth and improving manufacturing capabilities,” he mentioned.

The budget holds a critical role in ensuring India maintains its status as the world’s third-largest economy.

India’s contribution of $3.7 trillion to the global economy, within a total of $100 trillion, coupled with its largest population of young individuals, presents substantial untapped potential. AGENCIES

 Higher GDP allocation for healthcare and advances in digital health infrastructure is imperative, said experts ahead of the Union Budget. 

The Union Budget 2024 is slated to be presented on July 23 by Finance Minister Nirmala Sitharaman.

“There is an urgent need to advance digital health infrastructure, particularly in tier II and III cities and rural areas, to enhance health coverage and support existing facilities,” said Jyotsna Govil, Chairperson Indian Cancer Society.

Govil also called for boosting reforms in cancer care by prioritising funding for personalised medicine and immunotherapy.

This, she noted, will make the therapies more accessible to a large number of patients.

While India’s current public healthcare spending remains low with just 1.6 to 1.8 per cent of the Gross Domestic Product (GDP), the experts stressed the need for higher allocation.

“A higher percentage of GDP allocation to healthcare is obviously a long pending demand, I hope it will be met in good measure in this budget,” said Dr. BS Ajaikumar, Executive Chairman, HealthCare Global Enterprises.

He noted that over the years, the government has taken many measures towards making healthcare affordable and accessible for the deprived sections of society.

“However, schemes like Ayushman Bharat are unflinchingly focused on subsidised treatment; the quality aspect is yet largely ignored,” Dr. Ajaikumar said.

He also called for an “effective universal health care model” that can bring out real transformation in the health sector.

In the interim budget, in February, the government had encouraged vaccination for girls in the age group of 9 to 14 years for prevention of cervical cancer.

Dr. Ajaikumar urged for bringing down the cost of vaccinations to prevent cervical cancer.

Health expert Dr. Sameer Bhati stressed the need to provide more facilities for manufacturing medical equipment in India.

“Medical equipment like CT Scan to a large extent, are imported. It will be better if these are manufactured in India,” Bhati said.

He said that boosting digital health can play a big role in better health services in villages. AGENCIES