Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Markets stayed range-bound for the fourth straight session, ending with minimal movement. While Nifty saw early gains, resistance near 24,700 capped progress, and mixed sectoral trends prevailed as small-caps hit a record high.

TOP STORIES

India’s EV Boom Eyes $40 Billion

What Happened

India is gearing up to spark a $40 billion wave of investments in electric vehicles (EVs) over the next 5-6 years. A whopping chunk of this cash will be funnelled into lithium-ion batteries, and EV manufacturing units will be set up right here on Indian soil. 

While the EV adoption rate is still crawling, investment in the sector has surged threefold in the last three years! Big names like Reliance New Energy, JSW Green Mobility, and Hyundai are already rolling up their sleeves with plans for new factories in Gujarat, Maharashtra, and Karnataka. 

Driving the news

Right now, only 8% of India’s vehicles are electric. But with 2 million EVs expected to hit the road in 2024, the electric dream is slowly coming true – even if we’re not quite there yet.  

Plus, charging stations are harder to find than a needle in a haystack. But fear not! The new investments will lead to the development of 13,000 acres of land, with 80% of that dedicated to lithium-ion battery plants. So, it’s not just cars that will need charging – the real estate market is getting a jolt, too. Expect warehouses, high-tech factories, and a whole lot of charging stations sprouting up across the country.

• This will demand over 45 million square feet of real estate for manufacturing and charging stations by 2030. 

Zoom out

With $40 billion coming its way, India’s EV market is about to shift gears. Sure, the 30% EV target by 2030 feels like a bit of a stretch, but these investments could help speed things up (maybe even make India the EV capital of the world!).

PAISON KA KHEL

CarDekho SEA raises $60M for used car financing

CarDekho's South Asia unit (SEA) raised $60 million (₹510 crore) from Navis Capital Partners and Dragon Fund to supercharge its used vehicle financing in Indonesia and the Philippines. With over $1 billion in loans disbursed since 2020 and a 3% share in Indonesia's used auto finance market, CarDekho SEA has partnered with 40+ financial institutions to drive growth.

The funding will also boost operations for refinancing, classifieds, and auto loans. Operating brands like OTO Indonesia and Carmudi Philippines, CarDekho SEA boasts a 50x GMV(Gross Merchandise Value) surge since FY21. 

ADNOC gets green light for $16.4B Covestro acquisition

The Competition Commission of India (CCI) has approved Abu Dhabi National Oil Company’s (ADNOC) $16.4 billion acquisition of Covestro, a leading polymer materials producer. The deal involves a full public takeover of Covestro’s shares, followed by a 10% capital increase through fresh share subscriptions.

ADNOC's acquisition represents a major step in its expansion into the chemical sector, aligning with its global ambitions. Covestro, renowned for its high-performance polymers, operates in India through its subsidiary, Covestro (India) Pvt Ltd.

TOP STORIES

A Record-Breaking Year of Public Listings

What Happened

India’s IPO game in 2024 has been nothing short of a rollercoaster! So far, 76 companies have raised a jaw-dropping ₹1,34,345 crore , beating the previous record of ₹1,18,723 crore set in 2021.

Big names like Hyundai Motor India, Swiggy, and NTPC Green have led the charge, and the IPO frenzy doesn’t show signs of slowing down anytime soon. Compared to last year’s ₹49,436 crore raised by 57 companies, this year’s IPO rush is like a rocket launch — fast and high!

Why It Matters

What’s fueling this IPO party? Retail and institutional investors are all in, eager to ride the wave of India’s booming stock market, with the Sensex up over 16% in the past year. And it’s not just the big players cashing in. Young, tech-savvy investors are eyeing new-age companies like Go Digit, Ola Electric, and Blackbuck. 

Some early investors are laughing all the way to the bank, with returns ranging from 2 to 13 times their investment. It’s safe to say the IPO market has been a happy place this year!

Conclusion

December’s looking to be a busy month, with big IPOs still on the way, including Vishal Mega Mart’s ₹8,000 crore debut. Experts are predicting the month could easily hit ₹22,000 crore in IPO sales. 

The companies that hit pause during the pandemic are now ready to dive in, armed with solid financials and a thriving market to support them.

GLOBAL NAZARA

TikTok fights back against Canada’s closure order

TikTok Canada is not taking Canada’s order to shut down its Bytedance subsidiary lying down! The company thinks the national security risks are way overhyped and is asking the court to toss the order. With 14 million Canadian users—about a third of the population—it claims the whole process was unfair and the conclusions just don’t make sense. 

The dispute follows months of intense scrutiny, starting with routine talks in 2023, followed by an extended security review. TikTok argues it wasn’t given a fair chance to address the concerns before the hammer fell.

WhatsApp rolls out Bharat Yatra

Meta-owned WhatsApp has hit the road with its Bharat Yatra , a nationwide tour designed to empower small businesses. Starting in Delhi-NCR, the iconic WhatsApp-branded bus has cruised through hotspots like Laxmi Nagar, Nehru Place, and Rajouri Garden, delivering in-person training to SMBs.

The initiative isn't just a pit stop—it's a cross-country road trip! Upcoming destinations include Agra, Lucknow, Ahmedabad, and Mysore. Business owners can hop on board to learn how to build profiles, create product catalogues, and launch ads.

TOP STORIES

Coke’s Bottling Business Gets a Jubilant Makeover

What happened?

Coca-Cola has sold 40% of its stake in Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group in a move worth around ₹10,000 crore (though Coca-Cola is keeping mum on the exact number). This is all part of Coca-Cola’s global plan to go “asset-light”— let someone else handle the bottling hustle.

HCCBL isn’t just any bottler; it’s India’s largest, making everything from Thums Up to Sprite and Maaza. In FY24, HCCBL made ₹14,021 crore in revenue and saw its profits triple to ₹2,808 crore.

Why it matters

India is Coca-Cola’s fifth-largest market globally, and this partnership shows the brand is serious about staying ahead in the game. By teaming up with Jubilant Bhartia Group—who run Domino’s and Dunkin’ in India—Coca-Cola is getting a partner with serious business chops.

• Jubilant operates over 3,000 QSR (Quick Service Restaurants) outlets across six countries.

Together, they aim to quench India’s thirst with greater efficiency, bold innovation, and a dash of business brilliance.

Zoom out

This deal isn’t just a fizzy milestone for Coca-Cola; it’s pouring profits, too! HCCBL realised ₹3,859.65 crore through customary working capital adjustments and deal-related costs, raking in a pre-tax profit of ₹2,526 crore.

For Jubilant Bhartia Group, it’s a refreshing addition to their growing portfolio. And for Coca-Cola, it will buy extra time for the fun stuff—like marketing and making drinks people love. 

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