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With the spotlight on artificial intelligence, India stands at a turning point. Experts believe the country has the skills to succeed, but key challenges must be addressed to unlock growth.
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00:11good afternoon you're watching the business today show powered by national stock exchange
00:16i'm sakshi batran here's where you will get all the closing action of the stock markets first up
00:20let's look at the top headlines this hour
00:26markets attempt to shake off volatility with the sensex now up 600 points and nearing 83 300 and
00:33the nifty also gains about 200 points to hover around 25 700 mark led by fmcg and pharma stocks
00:39brokerage stocks however tumble up to 10 percent after reserve bank of india tightens exposure
00:45norms dragging bsc grow and angel one lower jsw mg motor india is gearing up to expand exports to
01:00african markets after shipments to nepal and bhutan that's what the mdn ceo anurag mayrotra has said
01:06in an exclusive conversation with business today he's terms the proposed fta with the eu historic
01:12and as also said demand is expected to revive
01:20ai focus fractal analytics makes a weak stock market debut listing at 876 on the nsc about a 3
01:29discount to its 900 rupees issue price meanwhile quality was also is listed at 29.8 rupees per
01:37share post the demerger from hindustan uniliver down by 26 percent from the adjusted 40 rupees price tag
01:47precious metals see profit booking pressure gold and silver slip on the mcx after friday's sharp rally
01:54mcx gold now falls 1200 rupees to 1.55 lakh rupees per 10 grams while silver tumbles 8 000 rupees
02:01to now
02:02trade at 2.37 lakh rupees a kilo
02:11prime minister narendra modhi welcomes global leaders at the india ai impact summit 2026 at
02:16bharat mandapam saying india leads in ai transformation with major data centers
02:21and tech investments expected he also will inaugurate the india ai impact expo at 5 pm
02:36straight away looking at the top breaking news on your screens viewers this is with regards to
02:41anthropic and its india's plans anthropic has opened india's office in bengaluru india is the second
02:49largest market for claude that's what is the as a statement coming in from anthropic india revenues
02:56have doubled in the last four months and anthropic has now announced several partnerships as well
03:02what we're also given to understand is that there's a lot of anticipation on how there could be a partnership
03:08with reliance industries in the works of course this is unconfirmed news at this point in time
03:13but there's a lot of buzz and because of which we are seeing some uptick on reliance industries at this
03:19point
03:19in time as well several media reports have been indicating so we're yet to get a confirmation on
03:24that but clear statements coming in from anthropic they believe india is their second largest market
03:30india revenues have doubled in the last four months and therefore the first office that they've opened
03:35in bengaluru now and that brings the focus on ai yet again as well let me quickly welcome our guest
03:42on board sharmila joshi market expert is now with us warm welcome to you sharmila always a pleasure to
03:47have you with us well apart from the markets and the buzz there that we are discussing and will discuss
03:52through the course of the session it's the focus on ai of course in new delhi that's become the epicenter
03:57for ai in the world now with the top leaders from the world of ai descending in new delhi and
04:04of course
04:04conversations on how india could be now seen as the ai hub of the world in future also now anthropic
04:11making that announcement that they have bought their first office in bengaluru we are looking
04:16at a lot of clear focus strategic focus from global ai firms into india how do you see this
04:22so i think we're a little late to the party but now we are there and it goes without saying
04:27that
04:27you know we have the talent pool which is why somebody like an anthropic is saying that their
04:31revenues have whatever doubled in four months or so so the base is small let's not forget that
04:36but obviously it has a potential to grow as i said because we have the talent pool i think perhaps
04:42the things that we are lagging behind are things you know more the infrastructure things like
04:47data centers etc and this year's budget did outline several moves to even bridge that gap
04:54so i think we are now on the right path to really take the ai story forward and hopefully
05:01you know over the next couple of quarters we will see a lot more even from the already listed indian
05:09it companies in terms of what their initiative towards this whole the the ai bit is going to be
05:16and how and how they're going to target business going forward there so i think here's good news
05:22while we do need to keep at the back of our mind that it is a threat to the way
05:27we've been
05:28traditionally doing it business but it goes without saying that we have the talent pool and
05:34it's just a matter of time as to how we really pivot to play into to play this to our
05:40advantage
05:41absolutely but sharmila you know today anthropic is making that positive announcement about india
05:46but last week when anthropic was in the headlines it actually led to a sharp crash across the it stocks
05:52back home in india it somehow raised concerns of whether those aspects that were earlier thought
05:59to be ai proof are also going to get impacted then what will traditional companies within the ai space
06:07really do at this point in time the it stocks are up and about it's moving to the high point
06:12of the
06:12session but you know we've seen extreme amount of volatility over the last week what would you say
06:18yes you know that's exactly what i was alluding to because i think that the way uh our companies
06:23have traditionally been doing business they are there have been changes uh because the clients
06:28have asked for it you know largely because the clients are now working ai into the solutions that
06:34they want these companies to offer but now this just simply means that you have to uh take a call
06:39of
06:39how you're going to step up the offerings that you have uh because as i said you know it's uh
06:43the
06:44talent pool is not in question over here you know it is not that we don't have the people who
06:48can
06:48deliver it is just that you need to uh now evaluate how big a threat ai is because it's a
06:54very real
06:55threat there is no getting away from that i think this last week's shake-up has certainly proven that
07:00that we are not immune from uh uh the the ai piece really you know now the danger is really
07:08at your
07:08doorstep and now you have to address it uh so as i'm saying you know maybe over the next couple
07:13of
07:13quarters we will see that happening i'm not too positive therefore on it stocks at this point in
07:19time not that i'm saying that we should sell it but i think definitely now this is a space that
07:23you
07:23need to watch uh simply to see how they make the adjustments and uh where clearly the growth stories
07:30emerge within that space right uh you did talk about it stocks uh you're still skeptical at this point
07:36in time what about fractal uh this was this was being seen as india's first ai uh you know specific
07:43company that would give an opportunity to retail investors at this stage but uh you know the kind
07:49of uh negative debut that we've seen from it again has brought back a lot of questions to retail
07:54investors that one whether one should really jump onto the name of ai and look at any company that
07:59launches with a business in ai or what really went wrong with fractal would you say it's it's uh
08:06difficult to tell you but you know i think anything that is sort of new age has been through uh
08:11these
08:11sort of growing pains when they are listed uh you know we can make any sort of new age company
08:16that we
08:17have there and then you know when earnings are stabilized we've seen them really move up so i think the
08:22question you need to really uh be asking yourself is that uh uh how serious do you think uh ai
08:29is
08:29going is going to be going forward and i think it's a very serious threat that we are seeing and
08:35that
08:35we need to be a part of the story and not on the sidelines and therefore i'm quite positive on
08:40fractal so
08:40i will wait to see how the stock reacts in the sense you know you do have in the stock
08:44list you also have
08:45people who uh who are there in the ipo just to flip their money and so those people need to
08:50take a call
08:51and we need to see uh whether sell further and the stock falls but having said that as a business
08:57and as an opportunity i think there is definitely something that uh fractal offers and i would be
09:03quite positive on the stock okay you'll be positive on the long term as far as the stock is concerned
09:07let's also focus on how ai is looked at as an impact that it has on the jobs and now
09:15we are getting
09:15to hear that uh experts do believe that ai need not cost jobs if india moves fast at the india
09:22ai
09:22impact summit it is the chief economic advisor biananta nageshwaran who's called for urgent holistic
09:29reforms to align ai adoption with mass employability he is warned of the window of opportunity which is
09:36now open but may not stay open forever let's listen in to what he had to say
09:41india can become the first large society to demonstrate that human abundance and machine
09:48intelligence can reinforce and not undermine each other this will not happen by drift it will require
09:56urgency it will require political will it will require state capacity and it will require a clear
10:05national commitment to aligning technological adoption with mass employability it has to
10:11be a team india effort including the private sector and academics as well as policy makers the window is open
10:20still but it is not indefinite for india this is not a debate about the future of work it is
10:29a decision
10:30about the future of growth social stability and cohesion we must act and act now the first step
10:40begins with a reform of education and pedagogy and the teaching and the imparting of foundational skills
10:48and that is where the path to co-creating prosperity with ai and employability in the age of in the
10:58age of ai
10:59and that is where the path begins right let's move on to another breaking news coming in on your screens
11:06viewers and this is with regards to tamil naru today announcing two major foreign investments in the
11:12areas of aviation and mechanical parts trb raja the state industries minister has posted investment deals with
11:20japan's mynibia mitsumi for 1980 crore rupees and the company will set up a plant in thiruwalur district and create
11:29about 1400 high-end jobs a second investment is by aqs group for about 4 000 crore rupees to create
11:37a brand new
11:38250 acre aerospace and defense cluster in krishnagiri district
11:47all right let's move on and look at some of the other aspects then so if not the it space
11:53immediately
11:54what is catching your attention sharmila right now what are you focused on
11:59overall my sense is that uh sort of the worst is behind us because you know i think that the
12:04budget
12:04is out of the way uh the us uh deal uh we hopefully we'll see something happen on that uh
12:10because now
12:11you know the pm has spoken to the president and things seem to be moving so we we might hear
12:17something
12:17about that so i think the market is sort of now uh ready to get on with it sort of
12:23you know and look at
12:24stocks uh from a uh investment point of view as in uh what the fee is whether the fundamentals justify
12:31whether the businesses look good so i think now the focus will be on earnings and uh and how uh
12:37you are looking at uh the indian economic story uh going forward so which is why we are seeing a
12:44lot
12:44of buying in steel stocks i think that's likely to continue because there seems to be a definitely
12:48a feeling that domestic steel prices will go up from here which is why we are seeing a
12:53moving across the steel space uh then i think again fmcg to my mind will be another sector which
12:59will be very interesting to watch uh simply because you know i think the gst implication uh in autos uh
13:05which we've already seen play out and which hopefully will play out even further uh we saw a
13:11beginning of that in fmcg because a lot of fmcg stocks also stand to gain from the cuts that we
13:16have seen in gst but we haven't seen a real move over there in the last one one and a
13:21half years i
13:21think that's likely to happen and i think the banking and financial space uh is definitely
13:27a space that's going to be interesting to watch so you know these would be broadly the three four
13:32sectors that i think are interesting going forward okay fair point let's also shift focus to uh the
13:38auto space at large and this is with regards to jsw mg motor and how that is lining up an
13:46expansion
13:46into african markets after completing vehicle shipments to nepal and bhutan and that's what
13:51mr anurag mehrotra the md and the ceo has said speaking to business today's chetan bhutani mehrotra
13:58has also indicated on the upcoming ftas over the next 18 to 24 months and how those could be historic
14:03while gsc rationalization and how that has supported in revival of the demand he also expects the auto
14:09sector to post high single digit to low double digit growth with the company targeting and
14:16outperformance of the broader market let's listen in the government announced a series of gst cuts
14:22how has it been for you at jsw mg when it comes to the demand of course january saw impressive
14:28sales for
14:28you uh what is the outlook looking forward for the industry great i think the uh it was a landmark
14:34decision by the government uh gst rationalization if you remember the first half of the year was not
14:39very good for the automotive industry but as soon as the prime minister announced the gst rationalization
14:44the industry is actually grown by double digits or more uh in 2026 calendar year i think all of all
14:50estimates suggest that it should be in the high uh single digits to early double digits primarily also
14:56because of the first half of 25 which was a bit muted uh and we expect from all the product
15:03launches that are set up for the year we should be looking at growing faster than the industry
15:08and we anticipate about five to six percent growth for the industry so are you looking for a double
15:12digit growth for this year yeah at least for jsw mg we should be looking at a double digit growth
15:17all right uh of course government has signed a whole lot of ftas with various countries especially in the
15:21india ufta the us has been announced how good are we looking at when it comes to the india uft
15:25in
15:25particular do we stand to benefit as jsw mg i think the uh the government's done a fantastic job
15:31till a couple of years ago india had one of the lowest number of ftas and in the last 12
15:3618 24
15:36months there's just been a surge of ftas that have taken place we would wait to see the entire
15:43notification so that we can understand the nitty gritties and look at then assess the kind of
15:48opportunities it presents but fantastic work by the government and when it comes to the exports and
15:53manufacturing in india where are we standing at and you of course have spoken about the new energy
15:57vehicles uh a lot of you have been very interested in that as well when do we see that happening
16:01and
16:01any number to that so exports we've been doing to nepal and bhutan currently uh we are exploring
16:07the african continent okay uh and as soon as we have something concrete to talk about we will
16:12make sure we call you
16:16all right um let me take a quick view from you sharmila as far as the auto space is concerned
16:21how are you looking at the entire space of course uh gsc rationalization definitely put the auto sector
16:28right there on the top with huge uh demand flowing in of course some of the trickle down impact may
16:34be
16:34seen in the first quarter uh of the new calendar year as well but i want to understand uh you
16:41know from
16:41you largely uh with now price hikes coming back into focus input costs continuing to rise how are you
16:48looking at the opportunities within the auto pack oh very good i think you know i think that again you
16:53know this was uh the especially the passenger vehicle part uh within uh the auto space had not
16:58really done anything over the last year year year and a half and let's not forget i mean you know
17:02there
17:03is there are two uh sort of buyers which are there in a passenger within the passenger vehicle space
17:07one is of course the first time buyer and i think our demographics certainly seem to suggest that there
17:13would be uh sort of many more first time buyers and then there are people who need to replace their
17:17vehicle so i think you know both sort of will uh will sort of benefit from this gst cut and
17:24they will
17:24make up their mind sort of uh fast because of that and of course now we have this added uh
17:30sort of flavor
17:30that we may get some vehicles uh the luxury vehicles cheaper yeah so it's going to be a very interesting
17:36uh space to watch honestly so uh earlier you know i was only positive really on the two wheelers as
17:42a
17:43within that space but now i think both commercial vehicles as well as passenger vehicles are very
17:47interesting uh uh bits to watch and what about auto parts are you looking at the ancillaries absolutely
17:54absolutely i think you know it goes without saying that if you see the buying return to passenger vehicles
18:00and commercial vehicles then the ancillaries will uh stand to gain especially i think you know if you
18:05really see uh the european deal sort of uh get finalized then you will see a lot more auto
18:12antibodies uh really joining the you know seeing that upward move because there are a lot of these
18:18companies which have which are suppliers uh and have factories uh in europe so hopefully they will
18:24gain from that okay fair point another key story that we've been tracking through the course of the
18:30day and viewers you must definitely be aware of is what's happened with the reserve bank of india
18:34um you know talking about revised set of norms for lending to the brokerages we have seen stocks of
18:42the capital markets related brokerage related stocks really fall in trade today
18:47um you know bsc mcx even angel one grow these are the stocks that have actually fallen up to 10
18:53percent
18:54in trade this is after the reserve bank of india has tightened the lending rules demanding full secured
18:59funding and stricter collateral for margin trading and this has forced firms like bsc and angel one
19:06to seek costlier alternatives potentially impacting their earnings maybe even profit margin significantly
19:11and the new regulations now come into effect starting april so let's try and understand what's
19:16happening there most of the stocks are still um under pressure angel ones down by five percent you can
19:21see nuama other stocks also down um but how would you look at this um announcement by the reserve
19:27bank of india of course um over here we are seeing an immediate impact on the stocks but how do
19:34you
19:34really see over the next one two quarters this to play out of course first april onwards is when it
19:39will kick in and therefore the first quarter of fy27 and the couple of quarters will be important to
19:45watch out for if there is an impact on profit margins on the bottom line as well on the volumes
19:50per se
19:50how would you look at all of that i personally think that it will all sort of rationalize over the
19:55next
19:56two to three months once it comes into effect because you know ultimately it's going to be the
20:00investor which is going to bear the brunt of this uh because earlier if you if my broker was asking
20:05me
20:05for some x margin now he's just going to ask me for my entire money up front so i think
20:10any uh
20:11sort of a solution uh which is tied to also your banking you perhaps may not suffer so much but
20:17it
20:17will be these standalone brokers who will have to ensure that their clients have enough funds or
20:22uh they have pledged their shares or so on and so forth so it does sort of uh step up
20:28and amp up the
20:29kind of requirements that you know that they had and how much uh of course if you want to trade
20:35then
20:35you'll have to provide that much more margin and also you know what that margin can be what was allowed
20:41earlier what is not allowed earlier so there will be those two three months for all those things to
20:46sort out but to my mind it should not make a difference too much of a difference uh it will
20:52probably make a lot more difference uh more than investors to traders because anyway they were hit by
20:57the increasing increase in the std and now they'll also have to uh sort of uh step up and pay
21:06more
21:06margin so i think everything is sort of being uh done in a way to sort of top traders more
21:13than anything else
21:14fair point um let me also ask you uh to give us an overall view of the earnings season that
21:20has
21:20uh you know we are in the fact end of it so what has your true understanding been how is
21:25your analysis
21:25been of the most of the earnings that have come in and of course basis that are there any upgrades
21:31downgrades that you're already penciling in so i think it's been a good season overall if you ask me and
21:38uh uh i've not done too much of a deep dive but from whatever i it's overall been uh uh
21:46even if if
21:47the if the number is not good it certainly seems to indicate that things are getting better so you
21:52know that's the i think key takeaway for me because you know a lot of the measures uh had had
21:57really only
21:58one or two months to sort of play out whether it is gst or whatever and we need to see
22:02how uh companies
22:03really build on that and how it really impacts their uh earning going ahead and i think another
22:08critical thing would to see would be uh to see whether the capex cycle sort of comes back you know
22:13if you uh see some further cuts rbi take further cuts and how it is passed on etc which has
22:19not happened
22:20this time so having said that i think obviously i think uh the the stocks that have run up are
22:27the
22:27stocks where the numbers were good so it's it's been a sort of a mixed bag i think the autos
22:32are
22:32clearly uh meaning you know the results there have been really good and we've seen i think most of
22:38them are at uh ashore clayland for instance i think was at an all-time high so you know the
22:43numbers there
22:43have been very strong i think some of the fmcg stocks there used to be a small stock which has
22:47to
22:47track called uh hunasa there the sort of numbers came in line with what my expectation was trend was another
22:54stock i like you know there's the numbers yeah you are seeing you know those uh things that you
22:59thought would happen now beginning to happen sort of fair point let's look at um you know winding up
23:05the markets and wrapping up that for all our viewers and we'll come back to sharmila for all the
23:10questions that our viewers have sent us 210 points of an uptick we managed to end about 25 681 on
23:18the nifty
23:19so we pulled up from the day's lowest point for sure the nifty gainers include of course sadani
23:25enterprises max healthcare access bank kind of stocks we've also seen how most of the sectors
23:30have really rallied in trade psu banks the top moving sector today you're looking at real estate
23:37private banks infra all of these sectors have moved up and you know psu banks has ended at the high
23:43point you can clearly look at the kind of volumes being seen there private banks also over a percent
23:47higher at the day's high point you're also going to be seeing infrastructure stocks that's also
23:53something that you should be definitely looking at real estate has moved up about one and a half percent
23:57pharma stocks also so the pharma stocks healthcare stocks that's also moved up in trade i think barring
24:05auto and media rest all of the sectors have moved up even the broader markets mid and small caps have
24:11managed to end uh in a positive note today on the nifty let's pull up now uh the top gainers
24:18on trade
24:18you have power grid that's moved up about four and a half percent higher that's where the move is
24:24coal india is up by 3.3 percent htfc bank is up by 2.4 percent as well so you
24:29can clearly see a range
24:30between two and a half to four and a half percent adani enterprises access bank sipla these are the other
24:35top movers in trade right now on the lower end if you look at the key stock it's tech mahindra
24:41maruti
24:41suzuki it's hero moto one one and a half percent kind of losses there but uh that's how the markets
24:48have shut off finally moving to the high point giving us some sense that all's not lost and we could
24:53now see some more recovery after friday's massive uh losses in the markets that we saw shall matter we
24:59have a lot of questions coming in from our viewers so we'll start taking those now shivani from delhi has
25:03sent the first question and this is again on the brokerage stocks that we were asking uh you about
25:08so she says brokerage stocks are sliding in trade could this be a buying opportunity instead to buy
25:13the dips of course capital markets are not shutting shops so for those who are looking at this dip as
25:17a
25:17buying opportunity for the long term what would you say sharmila oh yes absolutely and as i said perhaps
25:23wait for a a quarter or so just see or not even a quarter just give it a give it
25:28till april and see
25:29uh what for the news you hear and then take a call uh but precisely as you said i think
25:33that
25:34what we are seeing is that uh increasingly people are coming to uh capital markets and again going by
25:41our demographics uh uh and the the percentage of people who are invested in markets and mutual funds
25:47it definitely suggests a room for growth i'm not even comparing it with what is happening
25:52what happens in the western markets uh but uh just i think if you look at what what is the
25:58percentage
25:58that invest in capital markets and how it can increase it will give you a good sense as to how
26:04much more of a road we have ahead of us so yes i think absolutely use this correction uh keep
26:09a track
26:09on the valuations and then uh sort of make a keep a level in your mind and enter at that
26:15level okay fair
26:17point let me also take another question this one is from prashant from mumbai and who wants to know
26:23about should i add the top two or three it stocks in my portfolio right now they are seeming attractive
26:29after having seen a lot of correction at the current levels i would say wait very honestly uh i think
26:36give it another quarter and then take a look at it maybe uh don't even as i said you know
26:41track the
26:42story see where you are going to uh see the companies like really step up their ai game and
26:47then take a call or any other positive news not just ai but any other positive news that could impact
26:53icky stocks uh because you know this correction in that sense is sort of uh serious uh because it
27:00is sort of put a dent in uh what we can expect uh from the space uh going ahead so
27:06some further
27:07pe rational rationalization can happen so i think uh it's it's a good sector i'm not saying that it's
27:14going to correct from here but to enter a fresh i think just wait a bit and just see how
27:20things really
27:21play out wait it out that's the clear view there all right jarmila we'll leave you with that thank you
27:26so much for your time and for all the insights that you always share with all our viewers good to
27:29have
27:30you with us as always and viewers uh before we wrap up remember the global spotlight is on india as
27:36india ai impact summit 2026 kicks off today at pharat mantapam in new delhi the five-day summit
27:42will be inaugurated by prime minister narendra modi and will focus on the key global challenges
27:47from job disruption and child safety to ai governance world leaders global tech firms startups
27:53policy makers and academia are all gathering to shape a shared roadmap for the future of artificial
28:00intelligence with over 2.5 lakh visitors expected the summit positions india at the center of the global
28:07ai conversation
28:08you
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