Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The Indian stock market stayed range-bound for another day, finishing almost flat as the recent bounce took a break. After a sluggish start, the Nifty index dropped in the first half but quickly recovered, closing at 24,610.05.

TOP STORIES

Three Bidders Lock in $1.5 Billion Stake in Haldiram

What Happened

India’s snack giant, Haldiram, is in the middle of an epic bidding war , and the stakes are higher than your favourite pack of nankeen. Alpha Wave Global, Blackstone, and Bain Capital have all thrown their hats into the ring, with Alpha Wave offering over $1 billion for a 15-20% slice of the Haldiram pie. 

After initially exploring a majority sale, the Agarwal family, which owns the business, has decided to consider selling a minority share instead. 

Why It Matters

With a potential $2.2 billion price tag, it’s shaping up to be one of the largest deals of its kind in India’s history. But it’s not all smooth sailing. Haldiram might be the big kahuna of India’s $6.2 billion snack market, but it’s facing fierce competition from health-conscious snack brands, with 63% of consumers now opting for healthier munchies. 

Yes, that’s right, kale chips and quinoa bites are trying to steal Haldiram’s thunder! Still, Haldiram’s financials are looking as crispy as their bhujia—FY24 revenue of ₹12,800 crore, and a profit of ₹1,350–1,400 crore. 

Final words

So, while some are nibbling at the edges, Haldiram is still sitting comfortably at the snack throne. Investors aren’t just interested in the snack, though—they want the full bag, including management rights. Meanwhile, the Agarwal family is holding out for a $10 billion valuation and may even consider an IPO as their exit route. The family’s strategy? Stay crunchy and keep the options open!

PAISON KA KHEL

Reliance eyes $3 billion loan to refinance debt

Reliance Industries is negotiating a $3 billion loan with several banks to refinance its debt due in 2025. The deal, expected to be syndicated in early 2025, marks the conglomerate's return to offshore borrowing after raising over $8 billion last year. The loan comes as the Indian rupee weakens and Reliance maintains a higher credit rating than India’s sovereign grade. 

Quick commerce rivalry heats up as Amazon goes faster

Amazon is cranking up the speed dial! This December, Bengaluru will see 15-minute deliveries for top-selling items like groceries and daily essentials. It's Amazon’s cheeky clap-back to quick commerce rivals reshaping India's delivery game.

The initiative comes as Amazon doubles down on its decade-long commitment to India, pledging a whopping $26 billion investment by 2030. 

TOP STORIES

India’s Steel Surge Faces a Coal-Fired Dilemma

What happened?

India is on a steel spree, aiming to almost double its crude steel capacity to 300 million tons by 2030 (though experts think 2036 is more realistic). But here’s the catch: 86% of this new capacity will be fueled by coal. According to the Global Energy Monitor (GEM), this coal addiction could put India’s climate goals in hot water. 

With $124–$187 billion in potential stranded assets and a heavy reliance on imported coal, the math is starting to look a little, well, rusty.

Why it matters

Steel might be the backbone of infrastructure, but it’s also the heavyweight champ of emissions—12% of India’s total in 2022 alone. As the world’s third-largest emitter, India’s climate actions (or lack thereof) have global consequences. While countries like China and Japan shift to electric arc furnaces powered by scrap steel, India is sticking with coal-fired blast furnaces. 

Switching to greener tech like hydrogen-based steel or carbon capture sounds good but isn’t easy—it’s pricey and complicated, like trying to fix a sinking boat with tape. And let’s not forget, that India lacks geological storage for all that captured carbon.

Zoom out

The government’s green steel initiatives and carbon-capture ideas are promising but feel more like baby steps on a treadmill of emissions. With rising coal prices and a growing reliance on imports, the economic and environmental costs are piling up. Unless India can forge a sustainable path, its steel sector might find itself in a bind—caught between towering smokestacks and sinking climate goals.

GLOBAL NAZARA

Coffee’s price hike brews trouble for wallets

Coffee lovers, brace yourselves! The cost of Arabica beans has brewed up to $3.44 a pound, marking a record high after an 80% surge this year. Blame bad weather in Brazil and Vietnam, the world’s coffee hubs, for shrinking crops just as global demand grows stronger.

Coffee giants like Nestlé and JDE Peet, who’ve absorbed costs so far, are now eyeing price hikes in early 2025. Experts warn that your favourite cup might soon come with a stronger kick—on your grocery bill!

Xiaomi gears up for premium play as India-China vibes improve

With India-China tensions easing, Xiaomi India is buzzing about fresh tech partnerships. India, its biggest market outside China, is key to its growth, and CMO Anuj Sharma calls the mood “a step in the right direction.”

The company is gradually expanding its focus to include the ₹15,000–₹30,000 price range, signalling a shift toward catering to the premium segment while still valuing its roots in affordability. With a massive 350 million users already on board, the brand is aiming high—planning to double this number over the next decade.

TOP STORIES

Big Names Bet on India’s Clean Energy Future

What happened?

The green hydrogen race is heating up, with 14 big players , including Reliance Green Hydrogen, L&T Energy, ReNew E-fuels, Avaada, and Waaree Clean Energy, in the running for a slice of the government’s green energy incentives. These companies are bidding for a chunk of the 450,000 tonnes per annum capacity up for grabs under the second tranche of the SIGHT Scheme.

The auction, overseen by the Solar Energy Corporation of India (SECI), is no small affair. 

• Big names like Reliance and L&T are eyeing the maximum 90,000 tonnes, while Avaada is aiming for 45,000 tonnes. 

Why it matters?

This is not just about cleaner air—it’s about powering the future. India’s National Green Hydrogen Mission, worth a jaw-dropping ₹19,744 crore, aims to churn out 5 million tonnes of green hydrogen annually by FY30, along with 125 GW of renewable energy. 

Companies like Avaada, already investing ₹25,000 crore in green ammonia in Odisha, are looking to hit a home run. Adding to the momentum, Waaree has unveiled plans to manufacture electrolysers, further strengthening its green energy portfolio. 

Zoom out

India is turning up the heat in the green energy kitchen, and green hydrogen is the star dish. With a target of 5 million tonnes annually, the country is not just sprinting; it’s running a marathon toward sustainability. So, fasten your seatbelts, because this green hydrogen derby promises a thrilling ride—without a single puff of smoke!

MIRCH MASALA

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