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Business

IndiGo Correction Signals Upside, Largecap IT Safer Than Midcaps – Sandip Sabharwal

by Priya Shah – Business Editor January 31, 2026
written by Priya Shah – Business Editor
Markets have seen heightened volatility over teh past few weeks,but selective opportunities continue to emerge,especially in large,fundamentally strong names. Speaking to ET Now, market expert Sandip Sabharwal shared his views on InterGlobe Aviation (IndiGo), the IT sector, financial stocks amid the IIFL episode, and the recent correction in jewelry counters.

InterGlobe Aviation, a Nifty 50 constituent and India’s largest airline by market share, has corrected nearly 20% from its recent highs. The stock, which commands over 60% of the domestic aviation market, has slipped from around ₹5,000 to close to ₹4,900.

Contextualising the recent developments, ET Now noted that the airline operates in a near-monopolistic environment and asked whether the recent numbers justify continued conviction in the stock.

Responding, Sabharwal said, “The numbers were decent in the context of whatever happened because the disruptions were meaningful. Then there was a forex impact, followed by the labor code impact, which has affected most companies this quarter. Even after that, they have reported a profit and guided for decent growth despite the kind of restrictions put on them.”

He added that the aviation sector has high entry barriers, making it extremely tough for new players to meaningfully challenge incumbents. “In all probability, it is indeed very tough for any new airline to come and take capacity. Even for existing ones, it is indeed tough as airlines is not a business where you can just get

January 31, 2026 0 comments
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Business

IndiGo Q3 Profit Falls 75% Amid Pilot Shortage and Compensation Costs

by Priya Shah – Business Editor January 30, 2026
written by Priya Shah – Business Editor

The Rise of Retrieval-Augmented Generation (RAG): A deep Dive into the Future of AI

The world of Artificial intelligence is moving at breakneck speed. While Large Language Models (LLMs) like GPT-4 have demonstrated amazing capabilities in generating human-quality text, they aren’t without limitations. A key challenge is their reliance on the data they were originally trained on – data that can quickly become outdated or lack specific knowledge relevant to a particular application. this is where Retrieval-Augmented Generation (RAG) comes in. RAG isn’t about building a new LLM; it’s about supercharging existing ones with real-time access to facts, making them more accurate, reliable, and adaptable. This article will explore the core concepts of RAG, its benefits, how it works, its applications, and what the future holds for this transformative technology.

Understanding the Limitations of LLMs

Before diving into RAG, it’s crucial to understand why it’s needed. LLMs are trained on massive datasets scraped from the internet and other sources. This training process allows them to learn patterns in language and generate coherent text. However,this approach has inherent drawbacks:

* Knowledge Cutoff: LLMs have a specific “knowledge cutoff” date.They don’t know about events or information that emerged after their training period. For example, a model trained in 2021 won’t have information about events in 2023 or 2024.
* Hallucinations: LLMs can sometimes “hallucinate” – confidently presenting incorrect or fabricated information as fact.This happens because they are designed to generate plausible text, not necessarily truthful text.
* Lack of Domain Specificity: General-purpose LLMs may lack the specialized knowledge required for specific industries or tasks, like legal document analysis or medical diagnosis.
* Difficulty with Private Data: LLMs cannot directly access or utilize private, internal data sources without significant security risks and complex retraining processes.

These limitations hinder the practical application of LLMs in many real-world scenarios where accuracy and up-to-date information are paramount.

What is Retrieval-Augmented Generation (RAG)?

RAG is a technique that combines the power of pre-trained LLMs with the ability to retrieve information from external knowledge sources. Essentially, it allows an LLM to “look things up” before generating a response. Rather of relying solely on its pre-existing knowledge,the LLM consults relevant documents,databases,or APIs to inform its answer.

Think of it like this: an LLM without RAG is a brilliant student who hasn’t studied for the exam. They can still attempt to answer questions based on general knowledge, but their responses might be inaccurate or incomplete. An LLM with RAG is that same student with access to their notes and textbooks during the exam – they can provide more informed and accurate answers.

How Does RAG Work? A Step-by-Step Breakdown

The RAG process typically involves these key steps:

  1. indexing: The first step is to prepare the external knowledge sources. This involves:

* Data Loading: Gathering data from various sources (documents,websites,databases,etc.).
* Chunking: Breaking down large documents into smaller, manageable chunks. This is crucial for efficient retrieval.The optimal chunk size depends on the specific application and the characteristics of the data.
* Embedding: Converting each chunk into a vector representation using an embedding model. Embedding models (like those from OpenAI, cohere, or open-source options like Sentence Transformers) translate text into numerical vectors that capture its semantic meaning. Similar chunks will have similar vectors.
* Vector Database Storage: Storing these vector embeddings in a specialized database called a vector database (e.g., Pinecone, Chroma, Weaviate). Vector databases are designed for efficient similarity searches.

  1. Retrieval: When a user asks a question:

* Query Embedding: The user’s question is converted into a vector embedding using the same embedding model used during indexing.
* Similarity Search: The vector database is searched for the chunks with the most similar vector embeddings to the query embedding.This identifies the most relevant pieces of information.
* Contextualization: The retrieved chunks are combined with the original user query to create a contextualized prompt.

  1. Generation:

* LLM Prompting: The contextualized prompt is sent to the LLM.
* Response Generation: The LLM uses the retrieved information to generate a response, providing a more accurate and informed answer.

Diagram illustrating the RAG process – Pinecone’s visual description of the RAG process.

Benefits of using RAG

Implementing RAG offers several significant advantages:

* **Improved Accuracy

January 30, 2026 0 comments
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Business

JioBlackRock Mutual Fund Adds 475 Stocks, Sells 29 in December

by Priya Shah – Business Editor January 23, 2026
written by Priya Shah – Business Editor

JioBlackRock Mutual Fund‌ Significantly Adjusts ‌Portfolio⁤ Holdings in December

JioBlackRock Mutual fund, a recent entrant into ⁤India’s competitive mutual fund landscape, has made considerable adjustments to its investment portfolio. According‍ to data released by Prime‍ Database, the fund house increased ⁢its holdings in approximately 475 stocks during December, while simultaneously reducing its stake in 29 others. This activity signals an active management strategy as the fund seeks to capitalize on market opportunities ‍and refine its investment approach.

Strategic increases in key Sectors

The fund house demonstrated a clear preference for established and growing companies, increasing its exposure in prominent ⁤names such ​as HDFC Bank, ICICI Bank, and Bharti Airtel. ⁢ These investments suggest ⁢a⁣ bullish outlook on⁢ the ⁤financial ‍services and telecommunications sectors. Further additions⁤ included MCX, Hindustan Aeronautics⁤ Limited (HAL), L&T, Titan, BPCL, ITC, Asian Paints, IndiGo (Interglobe Aviation), Yes Bank, reliance Industries (RIL), Siemens Energy India, Adani Energy Solutions, IRFC, Trent, ONGC, HDFC AMC, Eicher Motors, Swiggy, HUL, BSE, and Eternal.

Portfolio Pruning and Strategic Exits

Conversely, JioBlackRock reduced its ⁤stakes in 29 companies, including major players‌ like TCS, SAIL,‍ Power Grid⁣ Corporation,Thomas Cook (India), and LTIMindtree. Significant sales included a complete exit from holdings in Thomas Cook (India), SKF India, and SKF ​India (Industrial), indicating a reassessment of their long-term potential or a shift in the fund’s investment strategy.

New entrants and Portfolio Composition

The fund added four⁣ new stocks to its portfolio in December: approximately 98,337 ‌shares of Avanti Feeds, 51,046 shares of Route Mobile, 36,755 shares of Va‌ Tech Wabag, and 23,617 shares of JSW Cement. These additions suggest a ⁢focus on diversifying into sectors with growth potential.

Sectoral ⁣Allocation

As of December 31,2025,JioBlackRock’s portfolio demonstrated a significant allocation to the financial services sector,comprising 30.43% of its assets under management (AUM). Consumer discretionary followed with 12.89%, ⁤and industrials ⁤accounted for 9.81%. The fund also held notable positions in commodities (9.60%), information technology (8.34%), ⁤and energy (8.05%).

Fund Performance and AUM

JioBlackRock Mutual fund managed an AUM of Rs 14,730 crore as of⁤ December 31,2025,across its‍ 13 funds. This includes six equity schemes, one hybrid fund,‍ and six ​debt funds. The fund maintained a cash balance of rs 41.84 crore across its portfolios, with the JioBlackRock Flexi cap Fund holding Rs 42.96 ⁣crore and the JioBlackRock Nifty Next 50 Index Fund​ holding Rs 0.20 crore. Other passive funds within the fund​ house were fully invested.

Related reading: Crypto market expects⁣ regulatory clarity and tax rationalisation from Budget 2026

implications for Investors

JioBlackRock’s active portfolio ⁣management,​ as‌ evidenced ⁢by the significant changes in December,⁣ suggests a dynamic approach‌ to investment.Investors should ⁤closely​ monitor the fund’s future movements and sector ​allocations to understand its ​evolving strategy. The fund’s focus on established companies alongside emerging players‌ indicates a‌ balanced risk-reward⁢ profile. ‍The substantial ⁢AUM ⁤and diverse fund offerings provide investors with a range of options to align‍ with ‌their individual financial​ goals.

Published: 2026/01/23 13:45:17

January 23, 2026 0 comments
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