Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Indian benchmark indices fell for the second straight session on October 31, with Nifty slipping below 24,250. The Sensex closed 553.12 points, or 0.69%, lower at 79,389.06, while the Nifty dropped 135.50 points, or 0.56%, to 24,205.30.

TOP STORIES

E-Commerce Strikes Gold This Diwali 

What happened

This Diwali, the e-commerce sector is celebrating a record surge in sales while traditional brick-and-mortar stores face a challenging time. Online marketplace Meesho reported a staggering 40% increase in orders compared to last year, attracting over 3 crore new app downloads.  

Meanwhile, physical shops are seeing a drastic drop in sales, with many owners lamenting declines of 50% to 80%. With customers flocking to online platforms for better deals and convenience, the festive cheer in the market is noticeably absent for many local vendors.

Why it matters

Even prominent online retailers like Flipkart and Amazon are thriving, with Flipkart recording 7.2 billion customer visits during its Big Billion Day sale. The online demand for premium products is skyrocketing, driven by increased disposable income and changing consumer preferences. 

• This trend has led to online sales estimated to exceed ₹10 lakh crore during this festive season, significantly overshadowing the offline trade expected to reach ₹4.25 lakh crore.
  

Final words

The growing dominance of e-commerce raises critical questions about the future of traditional retail. As physical stores struggle, many are adopting omni-channel strategies, combining online sales with in-store experiences. For instance, shopkeepers are leveraging social media and WhatsApp for orders and local deliveries, hoping to capture some of the market share lost to online giants. 

PAISON KA KHEL

Tata Power pours ₹5,666 crore into hydro project

Tata Power is diving into green energy with a whopping ₹5,666 crore investment to build a 1,000 MW pumped storage hydro project in Bhivpuri. Expected to conclude in 44 months, the project will be funded 75% by debt and 25% by equity. 

This setup is set to fuel round-the-clock renewable energy and help decarbonize hard-to-clean industries. With a current capacity of 15.2 GW, Tata Power’s latest move strengthens its green energy goals and keeps the momentum going towards a sustainable future.

Banks queue up for Adani's ₹20,000-crore PVC project loan

Top Indian banks are lining up to back Adani Enterprises’ ambitious ₹20,000-crore project for a greenfield PVC plant in Gujarat. Initially led by SBI, which priced the 15-year loan at 9.25%, the project has now drawn interest from Bank of Baroda, PNB, Union Bank, Central Bank, ICICI, and Axis.

SBI plans to retain ₹5,000-7,000 crore while downsizing the rest. The plant, set to double India's PVC capacity, will help cut down on imports of everyday items like pipes and raincoats.

TOP STORIES

India’s Love for Gold Reaches New Heights

What happened

India’s gold fever is back, and it’s hotter than China’s. Indian consumers bought 51% more gold than their Chinese counterparts from July to September, clocking in a whopping 248.3 tonnes. This surge came despite gold prices being significantly higher, averaging ₹66,614 per 10 gm, compared to ₹51,259.8 the previous year. 

Why it matters

The increase in demand is due to a reduction in import duty from 15% to 6% announced in July. This change encouraged buyers and investors to purchase more coins and bars, leading to a 41% year-on-year rise in gold investment, the highest since 2012.

• Indians bought 77 tonnes in coins and bars alone, trumping China’s 62 tonnes.

The significant duty cut made gold an even more appealing asset amidst a turbulent stock market. The spike is also a sign of “revenge buying” as Indians are eager to invest in a stable, physical asset after uncertain times.

Golden times?

This trend is set to challenge traditional notions that China is the top dog in gold demand, as India’s focus on investment gold (bars and coins) grows alongside jewelry demand, which rose by 10% to 171.6 tonnes. According to the World Gold Council, consumer optimism, driven by a price correction and bullish sentiment, created the perfect storm for gold purchases, setting a high bar for investment demand.

GLOBAL NAZARA

Suzuki and Toyota team up for new electric SUV

Suzuki and Toyota are powering up their partnership with a new electric SUV based on Maruti Suzuki’s eVX. This EV will take on rivals like the MG ZS EV, Tata Curvv, BYD Atto 3, and the upcoming Hyundai Creta EV. 

Built at Suzuki’s Gujarat facility, this marks the duo’s first big move into electric vehicles. They’ve already collaborated on gas-powered models like the Baleno-Glanza and Grand Vitara-HyRyder, but now they’re shifting gears to bring more electric options to the market.

Shell strikes it big with $6 billion profit

Shell’s third quarter earnings packed a punch, clocking in at $6 billion —well above the $5.3 billion analysts expected. Even as oil prices slid and refining margins narrowed, Shell kept the momentum going with boosted gas sales. As a cherry on top, Shell announced a $3.5 billion share buyback plan over the next three months, keeping its dividend steady at 34 cents per share.

TOP STORIES

BRICS Set to Outshine G7 in Global Trade 

What happened?

The BRICS+ group is on track to surpass the G7 in global merchandise exports by 2026. Originally comprising Brazil, Russia, India, China, and South Africa, BRICS has since grown to include the UAE, Iran, Egypt, and Ethiopia, boosting its economic power. 

This expansion, along with China’s robust growth, has seen BRICS+ rocket from a modest 10.7% share of global exports in 2000 to a notable 23.3% in 2023. In contrast, the G7’s hold has slipped, dropping from 45.1% to 28.9% over the same period. 

Why it matters

This shift represents a major realignment in global trade dynamics. With China now contributing 62.5% to BRICS+ exports (up from 36.1% in 2000) and India chipping in with 7.9%, BRICS+ is positioning itself as a big trading bloc. 

The group’s increased focus on high-tech exports—now making up 32.8% of global high-tech exports, up from just 5.0% in 2000—shows its commitment to becoming a powerhouse in technology-intensive industries. 

What’s next?

Analysts highlight that BRICS+ is actively working on alternative financial systems, including a proposed trade and reserve currency backed by gold, which could eventually challenge the US dollar’s dominance. 

By 2026, BRICS+ could very well take the lead from the G7, symbolizing a shift from Western dominance to a more multipolar world. 

MIRCH MASALA

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