Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Indian equity markets closed lower for the second straight session on December 9, with the Nifty ending near 24,600. The Sensex dropped by 200.66 points to 81,508.46, while the Nifty fell 58.80 points to 24,619.

TOP STORIES

NTPC to Fuel Maersk with Green Methanol

What happened

NTPC Green Energy Ltd (NGEL), the renewable energy arm of India’s largest power generation company, is in talks with global shipping giant Maersk to supply green methanol for its ships. This move comes as the shipping industry scrambles to meet tighter regulations, like the EU's demand for a 2% cut in greenhouse gas emissions by 2025 and a hefty 80% reduction by 2050. 

Why it matters

Green methanol, a mix of green hydrogen and captured carbon dioxide, promises to clean up marine fuels—no more greasy oil spills on your ship’s conscience. 

• NTPC’s Andhra Pradesh hub is expected to produce 2 million metric tons of green methanol annually and while talks are still early, this could set sail to greener horizons.

This deal could be a game-changer for Maersk, helping it navigate its way through tighter emissions rules without needing to hitch a ride on a giant solar-powered yacht. Green methanol slashes CO2 emissions by up to 95%, which is like swapping your clunky old gas guzzler for a zero-emission electric car... on water. 

Zoom out

As the world tightens up on its carbon footprint, shipping companies are looking for sustainable alternatives and green methanol could be their lifeline. With India’s wealth of renewable energy resources, it's in prime position to become a key supplier of clean marine fuel—making it the perfect place for Maersk’s ships to refuel and take a (very green) breather.

PAISON KA KHEL

Air India adds 100 more Airbus jets to its fleet

Air India has placed an additional order for 100 Airbus aircraft, comprising 10 A350 widebody and 90 A320 narrowbody jets. This increases the airline's total Airbus orders in 2023 from 250 to 350 planes. Combined with last year’s 470-plane mega-order from Airbus and Boeing, Air India now has 814 aircraft on the way. 

The airline is also partnering with Airbus for Flight Hour Services to ensure smooth maintenance of its growing A350 fleet. 

Vedanta bets big on Rajasthan’s riches

Vedanta Group is making a bold move with a ₹1 lakh crore investment in Rajasthan. Chairman Anil Agarwal announced at the Rising Rajasthan Summit that this hefty sum will boost zinc and oil production while creating 5 lakh jobs. As a cherry on top, Vedanta plans to develop a not-for-profit industrial park to fuel entrepreneurship, with investments ranging from ₹5 crore to ₹500 crore.

TOP STORIES

Magicpin’s Secret Sauce to Spice Up Food Delivery

What Happened

Magicpin, launched in March 2023, is shaking up the food delivery game in India. With over 80,000 restaurants on its platform and 150,000 daily orders, it’s starting to make some serious noise.

To put it in perspective, Swiggy handles up to 2.5 million orders a day, while Zomato delivers 1.3 million. But Magicpin is taking a different route by focusing on local, mom-and-pop shops, instead of the big fast-food chains.

Why it matters

Magicpin’s unique approach taps into the overlooked niche of small merchants, which often struggle to be seen on bigger platforms. This focus allows Magicpin to dominate 90% of food orders on ONDC (Open Network for Digital Commerce) and capture 10% of the food delivery market share in Delhi and Bengaluru. 

The platform is gaining momentum, with an 83% revenue growth in FY23, reaching ₹297 crore, despite its losses.

Final words

In a clever move to outsmart the big players, Magicpin slashed its platform fee from ₹10 to ₹5 last month and has no intention of raising it anytime soon. While Zomato and Swiggy still charge ₹10 per order, Magicpin is making its mark by offering food orders that are, on average, 20% cheaper. 

Also, the food delivery market is growing at 18% annually and is set to exceed ₹2 lakh crore by the end of the decade, offering plenty of opportunities for smaller players like Magicpin.

GLOBAL NAZARA

China investigates Nvidia for monopoly breach

China has launched an investigation into Nvidia over concerns it may have violated anti-monopoly laws, focusing on its 2020 acquisition of Mellanox Technologies for $7 billion. The probe questions whether Nvidia discriminated against Chinese firms despite agreeing not to do so when the deal was approved. This comes amid rising tensions between the US and China over tech supremacy, with Nvidia caught in the middle.  

BP and Jera join forces to chase offshore wind dreams

BP, a British multinational oil and gas company and Japan’s Jera Co. are teaming up to create JERA Nex bp, an offshore wind venture powered by a breezy $5.8 billion investment by 2030. This London-based alliance will manage ambitious projects in Europe, Australia, and Japan, including BP’s headline-grabbing UK wind farms.

Facing choppy waters in the renewables sector, BP calls this a “capital-light” move to keep its green energy game strong while dodging soaring costs. 

TOP STORIES

Sweaters on Sale Before the Chill

What happened

Winter sales are here, and they’re early—so early, they might as well be "autumn clearance." Brands like Levi’s, Puma, Bata, and Adidas are offering discounts in-store and online to offload stock before the cold season decides to make a grand (and possibly brief) entrance. Woodland has kicked things off earlier than ever, though they’re playing favourites, slashing prices only on slow-moving items. 

Meanwhile, platforms like Flipkart and Myntra are continuing their discount spree after the November Black Friday rush. It’s like Christmas came early, but Santa seems to be sweating in the heat.

Why it matters

With India’s second warmest November in 123 years and a delayed winter, retailers are walking a tightrope. Unsold inventory looms like a rough day they didn’t see coming, while soft demand adds to their woes. Usually, winter sales peak around Republic Day, but with the weather acting like an unpredictable guest, brands are hustling to boost cash flow for incoming spring-summer collections. 

The Indian Meteorological Department predicts a 2-4°C temperature drop over the next few days, but let’s face it: the sweaters are waiting, and the customers are not.

Final words 

Retailers hope these early sales will warm up their December-January revenue by 8-12%, even if winter itself remains fashionably late. If the early discounts don’t create a buying buzz, brands might find themselves stuck with too much woollens.

MIRCH MASALA

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