Markets need to see more than profits from Oyo
Exclusives Markets need to see more than profits from Oyo
Oyo Founder Ritesh Agarwal; image credit: Visualisation by Sadhana Saxena via AI
Synopsis
After surviving a steep fall and existential crisis in 2020, Oyo picked up pieces from the remains of Covid-19 devastation and self-inflicted errors. Its profits, revenue, storefronts and global footprint are steadily growing, making the company's IPO prospects more tangible than ever. The question now is how markets will view Oyo's steady growth and stability.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Oil jumps over 2% on tighter market outlook; Brent posts 3% weekly gain; US tariffs, Russia sanctions in focus
Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) said the global market may be tighter than it seems, supported by strong summer demand. Meanwhile, concerns over new US tariffs and possible fresh sanctions on Russia also added upward pressure. Brent crude rose $1.72, or 2.5%, to settle at $70.36 per barrel, while US West Texas Intermediate (WTI) gained $1.88, or 2.8%, to close at $68.45. Brent recorded a 3% weekly increase, while WTI achieved a 2.2% gain over the week. September Brent contracts maintained approximately a $1.20 premium compared to October futures. The IEA indicated global oil markets might be more restricted than visible, with consumption bolstered by peak summer refinery operations supporting travel and electricity generation. US energy companies reduced oil and natural gas rig operations for an eleventh consecutive week, according to Baker Hughes. Such a prolonged reduction hadn't occurred since July 2020, during the COVID-19 pandemic's impact on fuel demand. Despite near-term market constraints, the IEA increased its supply growth predictions whilst reducing demand growth forecasts, suggesting a surplus situation. "OPEC+ will quickly and significantly turn up the oil tap. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Luxury Awaits at Paras Floret | Paras Sector 59 Gurgaon Paras The Florett Book Now Undo There is a threat of significant oversupply. In the short term, however, oil prices remain supported," Commerzbank analysts told Reuters. Russian deputy prime minister Alexander Novak announced Russia would address its OPEC+ quota overproduction this year during August-September, supporting short-term price outlook. Near-term demand strength was evidenced by Saudi Arabia 's planned shipment of approximately 51 million barrels of crude oil to China in August, the largest such delivery in over two years. However, OPEC reduced its long-term global oil demand forecasts for 2026-2029, citing declining Chinese demand in its 2025 World Oil Outlook, released on Thursday. Trump had earlier told NBC News that he would deliver a "major statement" regarding Russia on Monday, providing no additional details. He also showed dissatisfaction with Russian President Vladimir Putin regarding the stalled progress in concluding the Ukraine conflict and Russia's escalating attacks on Ukrainian urban areas. The European Commission plans to introduce a variable Russian oil price ceiling this week within a fresh sanctions proposal, while Russia said it possesses "good experience" in addressing obstacles. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
- Time of India
The big question in Air India Crash: If pilots didn't cut fuel, what caused both engines to shut down mid-air? Experts say 'cockpit conversation is alarming'
MUMBAI: The big questions are: If the pilots didn't cut off the fuel, then how did the fuel supply to both engines cut off during the most crucial phase of flight? Was it a technical problem with the Boeing 787 Dreamliner? The 15-page preliminary report released by India's Aircraft Accident Investigation Bureau (AAIB) into the Air India AI-171 crash, which killed 270 people. The report was made public in the early hours of Saturday. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Fuel cut-off seconds after lift-off About seven seconds after Air India flight AI-171 lifted off from Ahmedabad runway on June 12, the fuel to both engines of the Boeing 787 Dreamliner (VT-ANB) cut off. The shutdown happened within a time gap of one second. "In the cockpit voice recording, one of the pilots is heard asking the other why he cut off the fuel supply. The other pilot responded that he did not do so." This is the most critical piece of information in the report—fuel shut off seconds after take-off. The only other logical possibility is one of the pilots cutting off the fuel supply and denying it. But the investigation veers toward an aircraft systems issue. FAA warned of faulty fuel switch in 2018 The report refers to a 2018 Special Airworthiness Information Bulletin (SAIB) issued by the US Federal Aviation Administration (FAA), which warned of a fuel control switch locking malfunction in Boeing 787 aircraft. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo However, the AAIB report states that Air India did not carry out the recommended inspection because it was advisory, not mandatory. "As per the information from Air India, the suggested inspections were not carried out as the SAIB was advisory and not mandatory," the report said. Records indicate that VT-ANB underwent throttle control module replacements in 2019 and 2023, unrelated to fuel control switch faults, and no subsequent fuel control switch defects were documented after 2023, it added. "At this stage of the investigation, no definitive cause has been determined, and no immediate safety recommendations have been issued to B787-8 or GEnx-1B engine operators," it said, adding that the Aircraft Accident Investigation Bureau (AAIB) of India, supported by NTSB-USA, Boeing, GE, FAA, and other international stakeholders, continues a detailed investigation focused on engineering, human factors, and system interactions. TOI spoke to senior commanders and examiners, and they referred to another service bulletin issued jointly by FAA and GE (engine manufacturer) in 2021. Service Bulletin FAA-2021-0273-0013 Attachment 2 recommends the replacement of the "MN4 microprocessor on ECU" with respect to engine fuel and control. It states: "This recommendation is to address a condition that may affect Flight Safety... Accumulated thermal cycles of the EEC with age causes the solder ball to fail." Timeline of the crash This is the sequence of events from the AAIB report: 08:07:37 UTC – Aircraft began take-off roll 08:08:33 UTC – Aircraft reached V1 speed (153 knots IAS) — the speed at which take-off must continue 08:08:35 UTC – Reached Vr speed (155 knots IAS) — pilots pulled back the control column 08:08:39 UTC – Air/ground sensors switched to 'air' mode — aircraft had lifted off 08:08:42 UTC – Aircraft reached maximum airspeed (180 knots IAS) Immediately after – Engine 1 and 2 fuel cut-off switches moved from RUN to CUTOFF, one second apart Engine parameters N1 and N2 began dropping as fuel supply ceased.\ Air India plane crash "The CCTV footage obtained from the airport showed Ram Air Turbine (RAT) getting deployed during the initial climb immediately after lift-off. No significant bird activity is observed in the vicinity of the flight path. The aircraft started to lose altitude before crossing the airport perimeter wall," the report says. Experienced crew on board The commander had over 15,000 flying hours, including 8,600 on the B787, while the co-pilot had 3,400 hours. The co-pilot was Pilot Flying (PF) and the captain was Pilot Monitoring (PM). Possible link to microprocessor fault Senior commanders TOI spoke to referred to another technical alert: a 2021 joint bulletin by the FAA and GE (the engine manufacturer), recommending replacement of the 'MN4 microprocessor' on the engine's Electronic Control Unit (ECU). 'This recommendation is to address a condition that may affect Flight Safety… Accumulated thermal cycles of the EEC with age causes the solder ball to fail.' The ECU is the "brain" of the jet engine, controlling parameters like fuel flow and managing fault detection. The MN4 microprocessor interprets data and commands fuel metering valves. One commander explained: "The microprocessor is mounted on a Ball Grid Array (BGA), which uses tiny solder balls to attach the chip to the circuit board. As the aircraft flies, the engine experiences high temperature swings, constant vibration, and thermal cycling. Over time, this causes fatigue cracks in the solder balls, leading to intermittent electrical connections, loss of signal processing, and potential engine control faults. " A failing microprocessor could result in dual engine shutdown—a catastrophic failure. Questions about CVR, RAT, and Emergency Locator Capt Amit Singh, an air safety expert, questioned the AAIB's timeline. "The timeline given in the report is not tallying, especially after take-off when the RAT is shown deployed in the image, which means both engines have already failed. It does not match with the engine failure timings given in the report," he said. "What was happening in the ten seconds after the fuel cutoff switch was off? The report doesn't give information on the conversation in the cockpit. The two sentences from the CVR mentioned in the report about a pilot enquiring who cut off the fuel also don't carry a timestamp." Capt Sam Thomas, President of the Airline Pilots' Association of India (APAI), said, "The conversation between the pilots enquiring who cut off the fuel control switch is alarming." He also flagged another issue: the Emergency Locator Transmitter (ELT) failed to work. "It should emit signals if the force of impact is between 3.2 to 3.5 G; the impact of the accident would have been exponentially higher." Doubts over investigation expertise Capt Thomas also questioned the makeup of the investigating team: "Who is the expert in this group? It is assumed that some B787 Dreamliner pilots have been... Why the secrecy? We know pilots in India, and none of them have been consulted. IAF pilots are not competent enough to investigate and understand modern aircraft operated by civilian airlines." In response, the AAIB clarified: "The investigation team comprising Mr. Sanjay Kumar Singh as Investigator-in-Charge, Mr. Jasbir Singh Larhga as chief investigator and Mr. Vipin Venu Varakoth, Mr. Veeraragavan K, and Mr. Vaishnav Vijayakumar as Investigators. Experienced Pilots, Engineers, Aviation Medicine Specialist, Aviation Psychologist and Flight Recorder Specialists have been taken on board as Subject Matter Experts (SMEs) to assist the Investigation in the area of their domain expertise. " Final report due in 2026 The final AAIB report is expected by June 12, 2026. For now, the root cause of the tragedy that took 270 lives remains undetermined. "At this stage of the investigation, no definitive cause has been determined, and no immediate safety recommendations have been issued to B787-8 or GEnx-1B engine operators," the AAIB said. India, along with the US National Transportation Safety Board (NTSB), Boeing, GE, FAA, and other global agencies, continues to examine engineering flaws, human factors, and aircraft systems that may have triggered the dual engine flameout just seconds into flight.
Time of India
2 hours ago
- Time of India
Google hires Windsurf CEO and researchers to advance AI ambitions
Alphabet's Google has hired several key staff members from AI code generation startup Windsurf , a Google spokesperson said on Friday, in a surprise move following an attempt by its rival OpenAI to acquire the startup. Windsurf CEO Varun Mohan, co-founder Douglas Chen, and select members of the coding tool's research and development team will join Google's DeepMind artificial intelligence division, the Google spokesperson said. The former Windsurf team will focus on agentic coding initiatives at Google DeepMind, primarily working on the Gemini project . ChatGPT maker OpenAI was in talks to buy Windsurf, one of the hottest startups disrupting software development, sources familiar with the matter told Reuters in June. OpenAI could not immediately be reached for a comment. "We're excited to welcome some top AI coding talent from Windsurf's team to Google DeepMind to advance our work in agentic coding," the Google spokesperson said. As part of the deal, the search engine giant is entering a non-exclusive license for certain Windsurf technology, according to a source familiar with the matter. Google will not take a stake in Windsurf, the person said. Windsurf investors will receive liquidity as part of the deal, sources told Reuters. Google's surprise swoop mirrors a deal in August 2024 to hire key employees from chatbot startup Big Tech peers, including Microsoft, Amazon and Meta, have similarly taken to these so-called acquihire deals, which some have criticized as an attempt to evade regulatory scrutiny. Microsoft struck a $650 million deal with Inflection AI in March 2024, to use the AI startup's models and hire its staff, while Amazon hired AI firm Adept's co-founders and some of its team last June. Meta took a 49% stake in Scale AI in June in the biggest test yet of this increasing form of business partnerships. Unlike acquisitions that would give the buyer a controlling stake, these deals do not require a review by U.S. antitrust regulators. However, they could probe the deal if they believe it was structured to avoid those requirements or harm competition. Many of the deals have since become the subject of regulatory probes. The development comes as tech giants, including Alphabet and Meta, aggressively chase high-profile acquisitions and offer multi-million-dollar pay packages to attract top talent in the race to lead the next wave of AI. Windsurf's head of business, Jeff Wang, has been appointed its interim CEO, and Graham Moreno, vice president of global sales, will be president, effective immediately. The majority of Windsurf's roughly 250 employees will remain with the company, which has announced plans to prioritize innovation for its enterprise clients.
