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Fintech companies are fortifying their defenses against increasingly sophisticated AI-powered cyberattacks, according to executives speaking to ET. Rather than simply preventing intrusions, they are now focusing on early detection and containment of breaches to protect customer data and funds. Cashfree notes that attempted attacks have surged at least tenfold in the past year.

PhonePe, Cashfree, PayU, and Razorpay have responded by automating defenses, isolating compromised systems, and implementing simulated attacks and round-the-clock monitoring. The rise in cyberattacks was highlighted by an incident affecting around 20 Indian financial institutions in October, with stolen credentials being used to bypass payment checks.

In the same month, UPI transactions reached an unprecedented 25.47 billion, with a transaction value of Rs 31.53 lakh crore. This growth in digital payments is expected to continue into November, driven by upcoming festivals like Dhanteras and Diwali. Meanwhile, new-age logistics firms are capitalizing on the surge in demand for rapid delivery services, particularly from direct-to-consumer brands and e-commerce sellers.

Companies like Shadowfax and Delhivery report significant revenue increases from express parcel services and see potential in acquiring and serving small and medium enterprises. The electric two-wheeler market in India saw a notable surge, with sales rising 48% on-year to 2.24 lakh units in October, fueled by festive demand and the launch of new models.

Leading manufacturers such as TVS Motor, Hero MotoCorp, and Bajaj Auto saw increased sales and market share during this period.