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As part of its capital expenditure plan, Grasim Ind plans to issue 4,000 crores in rights

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Aditya Birla Group flagship Grasim Industries Ltd on Monday stated its board has accepted elevating 4,000 crore thru a rights issue. The capital will be used to finance capital expenditure, repay debt and for conventional company purposes.

“The capital outlay for the corporation to set up itself as India’s 2nd biggest ornamental paints participant is on track. Furthermore, the organization is dedicated to sustaining market management in its core groups viscose and chemical compounds (at a standalone level),” Grasim stated in a statement.

The difficulty price, rights entitlement ratio, timing, document date, and the phrases of fee will be determined via the board or a board-appointed committee. The rights trouble will be open to all shareholders, with the promoters and promoter team confirming their participation.

The promoters personal 42.8% of Grasim. “They will subscribe to their rights entitlement wholly and additionally to the unsubscribed portion, if any, demonstrating their deep conviction in Grasim’s boom prospects,” the announcement added.

Grasim has already dedicated to make investments 10,000 crore to set up the paints business, with a trendy lookup and improvement facility in Maharashtra. The organisation will launch its new paints undertaking underneath the Birla Opus company in the fourth quarter of FY24.

“Our foray into ornamental paints is a strategic preference that allows us to faucet a high-growth market and increase our presence in the vivid Indian patron landscape,” Kumar Mangalam Birla, chairman of Aditya Birla Group, stated closing month.

According to a JP Morgan file dated 10 August, Grasim Industries additionally presents eye-catching quantity boom possibilities in its viscose staple fibre (VSF) and chemical compounds businesses, which function in a robust environment. It is additionally a manageable choice to play in the paint market.

“Grasim now expects undertaking fee at 10,000 crore to be spent by way of FY25 vs until now practise of preliminary capex of 5,000 crore by way of FY24 as Grasim hurries up its potential construct out (expects to fee the flora beginning from 4QFY24),” stated the JP Morgan report.

The fabric producer is anticipated to record a income of 726 crore and internet income of ₹6,190 crore in the 2d quarter of FY24.

It has a market capitalization of 1.3 trillion and has outperformed the Nifty 50 year-to-date, rising 15% in contrast to the index’s 9% return.

Shares of the organization rose 1% to contact 2,000 all through the day on NSE, earlier than closing 0.55% decrease at 1973.70.

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ProRata, an AI startup, Teams up with UK Publishers after reportedly Hitting $130 Million in Valuation

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A number of well-known British media outlets have joined ProRata, an AI firm that claims to compensate publishers for the usage of their work, in its expanding network of partnerships.

The Los Angeles-based firm announced on Wednesday that it has signed licensing deals with publishers such as Sky News, the Guardian, and the Daily Mail’s publisher, DMG Media.

In a recent Series A funding round, ProRata raised $25 million from investors such as the Mayfield Fund, Prime Movers Lab, and Revolution Ventures.

“ProRata’s founder and CEO Bill Gross said his firm’s AI technology is the only one that pledges to credit and compensate creators, while providing users with accurate search results.

“We have had hundreds of content owners and media companies reach out to us from around the world who are interested in piloting our technology. Stealing and scraping content is not a sustainable path forward,” he continued.

Similar alliances have previously been formed by ProRata with the German publisher Axel Springer, the Atlantic, Fortune, Time, and Universal Music Group (UMG).

Media firms are offered reasonable compensation by ProRata for the use of their content. The startup’s in-house technology may determine the proper amount of pay by evaluating the worth of the information used to create responses from an AI platform. This would make it possible to pay copyright holders for their work on a per-use basis.

Gross had previously said that AI platforms have been using “shoplifted, plagiarized content,” which fosters an atmosphere in which “disinformation thrives and creators get nothing.”

Gross is recognized for having created the pay-per-click model of internet search monetization with his business, GoTo.com, which was eventually acquired by Yahoo! in 2003.

In a recent blog post, Tige Savage, a cofounder of Revolution, stated that Bill Gross is a serial entrepreneur with extensive experience in monetization techniques.

“He’s attracted a world-class tech team led by AI luminary Tarek Najm to implement the vision and an accomplished business team, including Annelies Jansen and Jonas Lee to drive content and AI partnerships,” Savage continued.

The unpaid use of copyrighted materials by OpenAI and other tech companies to train their AI systems has led to litigation from media companies and other content creators.

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Film Bazaar Unveils an Interactive Cinema App from an Indian Tech Startup

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Arjun Nittoor, the founder of the Indian technology firm Vireza, disclosed at Film Bazaar that the company is creating a new mobile application that would transform the experience of watching movies in theaters by enabling viewers to engage with the films in real time.

The technology, which was created wholly in-house at the company’s research and development department in Bengaluru, allows viewers to use their smartphones to vote on important plot points during the movie. To keep up with the current screening, patrons download an app before entering the theater and scan a QR code at their seat.

“The film industry is one of the few sectors where the audience experience has seen minimal technological disruption in theatres,” Nittoor stated. “While screen and sound quality have advanced and 3D has been partially adopted, the viewing experience has largely remained the same for decades.”

The screen automatically brightens to show voting options and dims again when choices are made. The system uses discreet phone notifications to encourage audience participation around every ten minutes.

In 2026, Vireza intends to introduce the technology with a full-length interactive movie that will be produced in both English and South Indian for international distribution. The business is presently in the development stage and will shortly start doing multiplex chain trial screenings.

CtrlMovie’s prior success in the interactive film industry was mentioned by Nittoor. CtrlMovie is well-known for “Traces of Responsibility” and “Late Shift.”

In order to overcome the difficulties in cinematography, editing, shot composition, and writing that plagued previous attempts at the format, the firm has spent five years creating what Nittoor refers to as “a new science of filmmaking” that is especially tailored for interactive cinema.

“Despite the proliferation of viewing devices, big-ticket films continue to draw massive crowds to theatres, with box office numbers higher than ever,”  Nittoor stated. “This demand underscores the potential for a meaningful technology shift that could draw audiences out of their homes and into cinemas.”

Other Asian businesses are likewise investigating audience-driven narrative in motion pictures. In February of the following year, Japan’s King Records intends to release “Hypnosis Mic – Division Rap Battle,” an animated interactive film.

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Perplexity, an AI business, adds retail capabilities as search competition gets more intense

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Perplexity, an artificial intelligence search firm, opened a shopping hub on Monday to draw people to its platform in an effort to challenge Alphabet-owned Google’s hegemony in the search engine market.

Supported by Amazon (AMZN.O) founder Jeff Bezos and top AI chipmaker Nvidia (NVDA.O), the company launches a new tab and will provide users with product cards that display pertinent goods in answer to shopping-related queries.

According to the company, each card offers product facts in an eye-catching manner.

Shopify (SHOP.TO), one of the platform integrations that powers the new functionality, provides access to up-to-date and pertinent information on products from companies on the Canadian e-commerce platform worldwide that ship to the United States.

The goal of e-commerce platforms has been to attract more merchants by utilizing more AI-powered solutions.

‘Snap to Shop’ is a visual search engine featured in Perplexity’s online shopping rollout that displays products based on users’ pictures of an item.

The features will initially be introduced in the US before moving on to other regions; however, no timeframe has been given.

Additionally, Perplexity is launching a “Merchant Program” to enable shops to communicate with the company about its products.

Earlier in November, Reuters reported that the business was raising $3 billion in new funding.

Since the generative AI pioneer added a number of new search features to ChatGPT, OpenAI has become a direct rival of Perplexity, which has been seeking to broaden its product line.

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