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Hundreds of flights across the United States have been affected after the Federal Aviation Administration experienced a computer outage, according to reports in the US media.

"The FAA is working to restore its Notice to Air Missions System. We are performing final validation checks and reloading the system now. Operations across the National Airspace System are affected. We will provide frequent updates as we make progress," the FAA tweeted.

The US Federal Aviation Administration's (FAA) system that alerts pilots and other flight personnel about hazards or any changes to airport facility services and relevant procedures was not processing updated information, the civil aviation regulator's website showed on Wednesday.

In an advisory, the FAA said its NOTAM (Notice to Air Missions) system had "failed". There was no immediate estimate for when it would be back, the website showed, though NOTAMs issued before the outage were still viewable.

Over 400 flights were delayed within, into, or out of the United States as of Wednesday 5.31 am ET, flight tracking website FlightAware showed. It was not immediately clear if the outage was a factor.

"Technicians are currently working to restore the system," the website showed. The FAA was not immediately available for further comment.

A NOTAM is a notice containing information essential to personnel concerned with flight operations, but not known far enough in advance to be publicized by other means.

Information can go up to 200 pages for long-haul international flights and may include items such as runway closures, general bird hazard warnings, or low-altitude construction obstacles.

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Indian benchmark indices ended on positive note on January 9 with Nifty finishing around 18,100.

At Close, the Sensex was up 846.94 points or 1.41% at 60,747.31, and the Nifty was up 241.70 points or 1.35% at 18,101.20. About 1986 shares have advanced, 1542 shares declined, and 155 shares are unchanged.

M&M, TCS, HCL Technologies, Tech Mahindra and IndusInd Bank were among the top gainers on the Nifty. However, losers were Titan Company, Bajaj Finserv, Grasim Industries, Bajaj Auto and HDFC Life.

Among sectors, Information Technology, power, auto, capital goods, oil & gas, metal and PSU bank index up 1-2 percent. 

BSE midcap index up nearly 1 percent and smallcap index up 0.5 percent.

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Topic :- Time:3.15 PM

Just Inl

The IT sector earnings season for the third quarter of fiscal year 2023 is set to begin today, starting with IT services major Tata Consultancy Services (TCS). This will be followed by Infosys and HCLTech on January 12 and Wipro on January 13 � all in the same week.

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Topic :- Time:3.05 PM

Nifty spot close above 18100 level will result in some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can follow in the market. Avoid open short positions for tomorrow.

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Topic :- Time:2.30 PM

GOLD Trading View:

GOLD is trading at 56045.If it breaks and trade below 56020 level then expect some decline in it and if it manages to trade and sustain above 56080 level then some pull back can be seen however for now trend is sell from rise at the moment.

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Topic :- Time:2.00 PM

Nifty spot is trading at 18043. If it holds above 18000 level then expect some pull back in the market and if it breaks and trade below 18000 level then some decline can be seen. Nifty positional target is 18300. So trade accordingly.

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Topic :- Time:1.20 PM

Nifty slided from the higher level however some recovery can be seen in the market. Nifty spot if manages to trade and sustain above 18080 level then expect some upmove in the market and if it breaks and trade below 18020 level then some decline can follow in the Nifty.

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Topic :- Time:12.50 PM

Just In:

Indian Bank to hold special rupee vostro accounts of 3 Sri Lanka banks.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 741.80.If it breaks and trade below 740 level then expect some decline in it and if it manages to trade and sustain above 742.50 level then some upmove can follow in it.

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Topic :- Time:12.20 PM

Just In:

Asian Paints lines up Rs 2,000-crore additional capex for new plant amid competition.

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Topic :- Time:12.0 PM

Nifty spot if manages to trade and sustain above 18140 level then expect some quick upmove in the market and if it breaks and trade below 18000 level then some decline can be seen in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex rallies 900 pts, Nifty above 18,100, Titan trails

2. Arrest not in accordance with law: Bombay HC grants bail to Chanda Kochhar

3. Joshimath sinking: Admin asks residents to move to relief centres

4. Paytms loan disbursals jump 330 per cent in December, GMV up 38 per cent

5. Tata Digital loss up nearly 6x in 2022; revenue grew threefold, shows data

6. Kalyan Jewellers surges 6%; reports up to 13% revenue growth in Q3

7. Infrastructure stocks in focus; PNC, HG Infra, Ashoka Buildcon soar upto 7%

8. Titan slips 3% despite 11% YoY jewellery sales growth in Q3 update

9. Total business to cross Rs 2 trn milestone soon: Punjab & Sind Bank MD

10. Govt engaging with diff layers to ensure EoDB aid reach ground level: FM

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 09 Jan,2023:

Nifty is likely to turn volatile as the day progresses. Stock specific good action is expected in the market. Keep eyes on the Adani group and Reliance group.

Nifty spot if manages to trade and sustain above 17900 level then expect some upmove in the market and if it breaks and trade below 17800 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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News Wrap Up:

1. Sensex down 250 pts, Nifty50 below 17,950; IT index slips 1%

2. India set to post BoP deficit for 2nd straight yr in next fiscal: Standard Chartered Bank

3. TCS pushes the pedal to get self-driving cars on road with new algorithms

4. Foreign banks rush to find plan B as ESMA-BoE ban on CCIL looms

5. Sebi nod to reclassify govt holding in IDBI Bank as 'public' after sale

6. Vodafone Idea approaches banks for loans worth Rs 7,000 crore

7. Delhi reels under cold wave, dense fog; temp plunges to 1.8 degrees Celsius

8. Rama Steel freezes at 10% upper limit as stock turns ex-date for 4:1 bonus

9. Speciality Restaurants soars 20% in 2 days; hits record high in weak market

10. Profit-booking takes some sheen off gold; commodity hits all-time high

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With India’s startup ecosystem maturing in the last decade, the time taken by new-age tech companies to reach the $100 million revenue has decreased significantly, as per a study by consultancy firm Redseer Strategy Consultants. The average time taken by startups to scale to $100 million in revenue has now come down to just five years in 2017 from 18 years in 2000, the study pointed out.

There are about 100 unicorns--startups with a valuation of $1 billion or more--and 170 soonicorns, a company with the potential to become a unicorn, in India. Of these 270 companies, more than 40 operating in fintech, ecommerce, and logistics crossed $100 million in revenue as of the financial year 2022, the report said.

At present, India has close to 480 startups clocking more than $10 million in revenue while less than 60 new-age tech firms have an annual income in the range of $100 million to $1 billion.

The study also pointed out the role of investors, particularly venture capitalists, in helping startups scale from zero to $100 million in revenue. “Venture capital has played a central role in helping startups scale to the $100 million revenue milestone. Besides capital, investors add tremendous value to the companies they fund. In addition, the knowledge of governance, financial prudence, and networks brought by VCs are invaluable for startups," it said.

In total, VCs have invested about $143 billion over the last 15 years in the startup ecosystem, which is currently valued at $804 billion, as per the study’s estimates. At current valuations, it translates to around 4.5 times return for VCs on their investments.

Pointing out the challenges faced by most startups in their growth journeys, the study said those in niche industries restrict their total addressable market, while others need help with product-market fit and unsustainable growth.

Startups in the red ocean market --the industries with well-defined market space and industry boundaries-- operate in a highly competitive environment and need a unique competitive advantage to stay afloat, it added.

Challenges like poor profitability and bottlenecks with organization, governance, and operations are the reasons that even lead to the shutting down of startups, the study said.

Last year, 2,404 new-age tech companies winded up their operations, more than double the 1,012 that had shut shop in the previous year, according to data from Traxcn. Close to 266 startups that shut down this year were funded by venture capital, angel investors, family offices or institutional investors. The companies had raised close to $290 million, the data showed.

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The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020

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The auto industry posted its highest-ever annual domestic passenger vehicle (PV) sales in 2022 at 3.793 million units on the back of pent-up demand and better semiconductor chip supply. The figure was 23.1 per cent more than that of 2021.

The highest growth in annual domestic PV sales was seen by Tata Motors, Kia India and Toyota Kirloskar at 58.2 per cent, 40.2 per cent and 22.6 per cent (see table), respectively, according to data shared by the companies. Auto companies count wholesales, the units dispatched to dealers, as sales.

India’s largest carmaker Maruti Suzuki posted a 15.4 per cent growth in annual domestic PV sales at 1.579 million units.

Shashank Srivastava, executive director, sales, Maruti Suzuki, said, in 2022, domestic wholesales of the Indian auto industry was 3.79 million units against last year’s 3.08 million units, a growth of 23.1 per cent in the calendar year.

“This calendar year’s wholesale growth of 3.79 million units is the highest ever in the Indian auto industry in a calendar year. The highest was last in 2018, which was 3.38 million. So, 2022’s figure is about 14 per cent higher than the previous highest,” he told reporters at a virtual conference.

This resurgence is partly because of better availability of semiconductor chips in 2022 as compared to 2021, he added.

”Also, this rise has an element of pent-up demand. In the last three years, we saw a decline in the industry numbers. So the pent-up demand has also played a role in this 23.1 per cent growth,” he noted.

He said demand for SUVs continued to grow and its share stood at around 45.3 per cent of the total PV sales in 2022.

In terms of product mix on the basis of price, he said, “It appears that about 40 per cent of vehicles sold in the industry were in the bracket of Rs 10 lakh or above.”

Meanwhile, Maruti’s domestic PV sales in December 2022 were 112,010 units, 8.9 per cent lower than in December 2021.

On the lower figure in December 2022, Srivastava said, “For models where we have large pending orders like Brezza, Vitara, Ertiga, Dzire, Swift or Baleno, we were unable to produce more vehicles because of the semiconductor chip supply constraints. For models where we had adequate supply, we controlled the production because we wanted to keep the stock levels down because it was the last month of the year.”

Tata Motors sold 526,798 units of PVs domestically, which is a 58.2 per cent growth.

Shailesh Chandra, managing director (MD), Tata Motors Passenger Vehicles, said, “For Tata Motors’ passenger vehicles, CY22 has been a momentous year. We outpaced industry growth and crossed the distinctive milestone of 500,000 units comfortably to post wholesales of 526,798 units. Last quarter (Q3 of FY23) was one of the best quarters for the PV industry with strong retails from new launches, robust festive demand, and adequate supply of vehicles.”

Toyota Kirloskar Motor (TKM) saw its domestic PV sales jump from 130,768 units in 2021 to 160,357 units in 2022.

Atul Sood, associate vice-president, sales and strategic marketing, TKM, said,

“The year 2022 has been tremendous for TKM, both in terms of new product launches as well as sales performance.

We introduced milestone models like the Urban Cruiser Hyryder and the Innova Hycross. Both the models have been very well appreciated by our customers.”

TKM’s models like the Fortuner, Legender, Camry and the Vellfire continue to excel in their respective segments, Sood added.

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The central government's fiscal deficit widened to Rs 9.78 lakh crore in April-November period, accounting for 58.9 percent of the full-year target, data released on December 30 by the Controller General of Accounts showed.

The fiscal deficit in the first eight months of the last financial year was 46.2 percent of last year’s target.

The total receipts during April-November stood at Rs 14.64 lakh crore or 64.1 percent of the current year's budget estimate. In the comparable year-ago period, total receipts had hit 69.8 percent of the budget estimate.

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Spandana, a rural-focused non-banking financial company and a microfinance lender (NBFC-MFI) reported a consolidated net profit of Rs 55.15 crore in Q2 FY23 as against a net loss of Rs 57.94 crore in Q2 FY22. The firm's scrip is currently trading at Rs 548.95 on the BSE.

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The CBI will produce ICICI Bank's former CEO and MD Chanda Kochhar and her husband Deepak Kochhar at a Mumbai Special Court Saturday afternoon in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies, officials said.

The agency will seek a police remand of both accused to interrogate them in connection with the case, they said.

A team of CBI officials is accompanying the couple on a flight to Mumbai this morning, the officials said.

The Kochhars were called to the agency headquarters on Friday and arrested after a brief questioning session.

The CBI has alleged that they were evasive in their responses and did not cooperate in the investigation.

Sources said the agency is likely to move at a swift pace to file the first charge sheet in the case, in which the Kochhars could be named along with Venugopal Dhoot of Videocon Group.

The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019, they said.

The CBI had alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

It was also alleged that as a part of the quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.

It is alleged that during the tenure of Chanda Kochhar at ICICI Bank, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies during 2009-11. In two cases, she was on the sanctioning committees, according to the FIR.

Chanda Kochhar was on the sanctioning committee deciding two loans -- Rs 300 crore to Videocon International Electronics Limited (VIEL) on August 26, 2009, and Rs 750 crore to Videocon Industries Limited on October 31, 2011, it has alleged.

The loans were issued in alleged violation of laid-down policies and regulations of the bank, the FIR alleged.

Most of these loans became non-performing assets, causing a loss of Rs 1,730 crore to the bank, it alleged.

A day after the Rs 300-crore loan was disbursed by ICICI Bank to VIEL, Dhoot transferred Rs 64 crore to Nupower Renewables, managed by Deepak Kochhar, on September 8, 2009, it further alleged.

The transfer of Rs 64 crore was made from Videocon Industries Ltd through SEPL.

"This was the first major capital received by NRL (Nupower Renewables) to acquire the first power plant. Chanda Kochhar got illegal gratification, undue benefit through her husband from VIL/VN Dhoot for sanctioning Rs 300 crore loan to VIEL," the FIR alleged.

On May 1, 2009, Chanda Kochhar has taken over the charge of ICICI Bank as Managing Director and CEO.