Week 55

AI takes over🤖

June 10, 2023

Good Morning,

Welcome! I hope you have your “Subah Kee Chai” ready and are excited to read your weekly 10-minute digest.

Indian cricket fans cannot get one thing off their mind, was Shubman Gill out or not? The majority of viewers disagree with the third empire's decision yesterday as they 'clearly see the ball touching the ground'. Do you agree with them?

Personally, I feel nothing matters as long as we win tomorrow. You guys know what to pray for.

While a short-lived rain poured down on Mumbai last night, the weather in Mumbai this week has been rather hot with a high of 34 degrees! The monsoon is on its way, with a storm dragging along with it. (read all about the cyclone in today's newsletter).

This week the world saw sudden advancements in AI technology, disasters all around the world, and a drop in crypto shares. Make sure to stay till the end of today's newsletter to read the best-handpicked stories from this week's news!

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I hope you enjoy today's newsletter and have an amazing Sunday!

Now let’s get into the news.

Markets

Market News

On Friday, domestic indices started off positively but later turned bearish, resulting in a closure in the red. The market initially showed promise with gains, but these were relinquished during early trading hours, ultimately concluding near the day's lowest point.The NSE Nifty 50 plummeted by 66 points to 18,568, while the BSE Sensex slipped 0.33% to 62,641. Nifty Midcap 100 and Nifty Smallcap 100 closed 0.14% and 0.12% lower, respectively. The only gainer was Nifty Microcap 250, which saw a 0.13% increase. Among sectors, Nifty PSU Bank, Nifty FMCG, Nifty Media, and Nifty Auto experienced significant declines, while Nifty Private Bank and Nifty Realty were the only sectoral gainers.IndusInd Bank, Axis Bank, Power Grid, Adani Enterprises, and L&T emerged as the top gainers on the Nifty 50 index. On the other hand, Hero MotoCorp, HDFC Life, Divi's Lab, Eicher Motors, and Tata Steel were the top losers, with Hero MotoCorp dipping 2.19%.Large cryptocurrencies such as SOL, MATIC, ADA, etc. crashed yesterday due to a 'bloodbath' in the stock market. While no one knows the exact reason behind this event, there are a few possibilities for its occurrence. One of the reasons could be an ongoing lawsuit between the SEC and the leading US-based crypto exchange- Coinbase.

Cyclone Alert!

As per the Indian Meteorological Department (IMD), a severe

cyclonic storm, Biporjoy

, is expected to intensify further while moving northwest. The weather conditions are anticipated to become severe in the coming days, with wind speed reaching 135-145 KMPH, gusting up to 160 KMPH. IMD had already issued a warning for the next five days on Friday and advised fishermen to avoid venturing into the sea due to the torrential weather.

According to a tweet from the India Meteorological Department (IMD) on Friday, the cyclone was approximately 820 km west of Goa, 840 km southwest of Mumbai, 850 km southwest of Porbandar, and 1140 km south of Karachi. The IMD predicted that the cyclonic storm would intensify further over the next 48 hours.

Despite the presence of Cyclone Biporjoy, the monsoon finally showered on the Eastern coast yesterday, signalling the beginning of the rainy season in India. Typically, India's monsoon period runs from mid-June to the end of August - however infrequent weather patterns over the last few years have raised a few eyebrows. Is climate change really a thing? What do you think? Reply to this email to share your thoughts!

Word of the week!

Time for your weekly dose of knowledge! The word for this week is:

Saturnine"SAT-er-nyne"Saturnine is a literary word that typically describes people who are glum and grumpy or things that suggest or express gloom. It can also mean “slow to act or change.”A walk in the sunshine can improve your mood significantly, raising the spirits of even the most saturnine among us.

Self-driving car? 🤯

Minus Zero, an AI startup located in Bengaluru, India, has recently introduced the country's first self-driving car called "zPod."The zPod stands out by not having a traditional steering wheel. Instead, it relies on a network of strategically positioned high-resolution cameras to analyze its neighbouring environment, including other cars, signals, people, objects and other things.

These cameras, along with other sensors, capture the surroundings of the vehicle, creating a comprehensive camera-sensor suite. The information gathered by this suite is then shared with the AI system embedded within the zPod. The AI processes the data from the images to enable the car to autonomously control its speed, navigate around obstacles, and come to a stop when necessary.

According to the founders of Minus Zero, there are no current plans to manufacture additional cars.AI is rapidly infiltrating our daily livelihood. Are you a fan of this robotic future, or do you like it old-school? Let me know by replying to this email ;)

India 🤝 Germany

India and Germany are currently discussing a substantial submarine deal to reduce India's reliance on Russian military equipment and bolster Germany's defence industry. Germany's Thyssenkrupp Marine Systems (TKMS) and India's Mazagon Dock Shipbuilders have signed a memorandum of understanding (MoU) to jointly bid for the co-production of six submarines, estimated to be valued at around €5 billion.German Defense Minister Boris Pistorius, during his four-day visit to India, expressed that this submarine deal could become a notable project for both countries. However, he acknowledged the presence of other competitors vying for the contract.

According to a source familiar with the discussions, the deal under consideration involves the procurement of six diesel submarines with air propulsion systems. These air-propelled submarines are capable of operating silently underwater. Importantly, all six submarines are to be manufactured in India as part of the agreement.

Sports

IND vs AUSScott Boland shattered Indian hopes when he dismissed Shubman Gill just before Tea. Gill and Rohit Sharma had a solid start, reaching 41/0 in the first 7 overs, but Boland's breakthrough halted their progress.

In Australia's second innings, Alex Carey ended unbeaten on 66 as they declared at 270/8, setting a daunting target of 444 for India to win the World Test Championship title. Mitchell Starc contributed a blistering 41 runs, while Ravindra Jadeja stood out as the top bowler, claiming 3 wickets.All hopes lie in the hands of Virat Kohli and Ajinkya Rahane who will continue India's attempt to chase tomorrow. Will India make history again or will Australia dismiss the batsmen before they can score the required runs? Day 5 of the test match begins at 3 pm today and can be watched on Disney+ Hotstar.FRENCH OPENThe Rolland Garros finals will be played between Novak Djokovic (ATP Ranking No.3) and Casper Ruud (ATP Ranking No.4) at 6 pm today and will be streamed on Sony Liv. Djokovic looks to defend his title as Casper is still searching for his first grand slam victory. As for the women's trophy, Iga Swiatek defeats Karolina Muchova to win her 3rd French Open title. She won the game 2 sets to 1.CHAMPIONS LEAGUEThe UEFA Champions League Finals took place in Istanbul at 12:30 am last night and Manchester City emerged victorious after a year of dominance in all their leagues! Rodrigo scored the winning for them and Manchester City have now completed the treble! The last team to complete the treble in England was Manchester United 24 years ago. A treble in association football is achieved when a club team wins three trophies in a single season (FA Cup, Premier League, and the Champions League for Manchester City).

India news

1. A woman staged her

husband's death

in the train crash in Balasore, Odisha, to fraudulently obtain cash compensation provided by the railways and the state government for the victims and their families.

2. Studies show that over

101 million people

in India are diabetic, with residents of Goa topping the list.

3. ISRO is preparing for the launch of

Chandrayaan-3

in July as a follow-up to the partially unsuccessful Chandrayaan-2 mission, which experienced a crash landing on the Moon's surface in 2019.

4. Vistara introduced a

robotic aircraft exterior cleaning

system to aid and speed up the cleaning process when it's airline taxis.

5. The

Indian Navy

conducted two practice aircraft battle operations in the Arabian Sea with close to 35 aircrafts.