Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: IREDA's share price soared a massive 17% on Thursday, hitting ₹288 with a remarkable 25.12% gain in just five trading sessions.

BUSINESS

Vidyut Charges Ahead in India's Used EV Market 

What happened

Bangalore-based startup Vidyut has sparked a full-on tamasha in the used electric vehicle (EV) market. The company plans to broaden its services to include used passenger EVs and two-wheelers, addressing worries about EV resale values. They've moved from financing commercial EVs to selling and financing used vehicles, all set to bring in some desi jugaad with their new offerings for passenger EVs and two-wheelers.

Why it matters

Vidyut's expansion addresses a critical gap in India's EV adoption journey—resale markets. By offering a platform that promises 3-4 times better resale value realization compared to traditional dealers, Vidyut aims to boost confidence in EV ownership.

This move could significantly lower the total cost of ownership and further drive adoption rates, crucial for meeting India's ambitious EV targets. With plans to launch an online marketplace and expand to six new cities by FY25, Vidyut is poised to scale its impact across major urban centres.

Zoom out

Despite subsidy cuts and regulatory twists, FY24 witnessed EV sales zapping up by over 41%, showing India's love affair with electric rides is charging ahead. 

• Registrations soared to a shocking 1.6 million from last year's 1.1 million, with three-wheeler EVs hogging a whopping 48.9% of the road.
  

This surge isn't just a trend—it's a sign that India's EV movement is accelerating on turbo mode. As Vidyut gears up for the used EV market, riding this electric wave, it's sparking hope for greener, cleaner commutes across the country.

BIG MONEY MOVES

Siemens sparks Bengaluru Metro electrification with ₹766 crore order

Siemens has powered up Bengaluru Metro's Phase 2 with a whopping ₹766 crore contract from Bangalore Metro Rail Corporation. Their chunk of about ₹558 crore aims to electrify not just tracks but also the city's commute scene.

The project spans 58 kilometres, linking Bengaluru Airport to Central Silk Board via KR Puram, complete with snazzy SCADA systems. With Siemens lighting up 30 stations, Bengaluru's commute just got a high-voltage makeover. 

TCS shines in Q1: Big profits and even bigger dividends

Tata Consultancy Services (TCS) pulled off a magic trick this quarter, announcing an 8.7% leap in Q1 net profit to ₹12,040 crore. Revenue joined the celebration, rising 2.24% to ₹62,613 crore. Analysts were bracing for a rough ride, but TCS delivered a solid 24.7% operating margin, making them eat their words.

Good news for shareholders: a ₹10 interim dividend per share will be paid on August 5. 

BUSINESS

India Surpasses China in Billion-Dollar Real Estate League

What happened

In a real estate face-off between giants, India has flipped the script on China! According to the latest from the Hurun Research Institute, India now boasts 36 billion-dollar real estate big shots, a massive jump from just 7 companies six years ago. This surge showcases India's rise while China's real estate market hits speed bumps due to regulations and economic shifts.

Mumbai steals the show with 33 top-notch firms, followed by Bengaluru and New Delhi. DLF steals the limelight as the richest player, with Adani Realty crashing the top 10 party.

Why it matters

India's triumph over China isn't just a numbers game—it's about global clout and economic strategy. While China deals with market swings and government rules, India's real estate sector shines bright with 86% of these firms seeing their values soar. Investors are eyeing India for stable returns amid global uncertainty, setting it apart from China's challenges.

• DLF leads the pack with a valuation of ₹2 lakh crore, building dreams as tall as skyscrapers!
  
  

• Macrotech Developers follow closely at ₹1.4 lakh crore.
  
  

• Indian Hotels Company (Taj Group) holds the third spot with ₹79,150 crore, bringing luxury to every corner!
  
  

• Adani Realty storms into the top 10 with a 62% year-on-year growth, valued at ₹56,500 crore. 
  
  

Final words

With a combined value of $171 billion, these 36 billion-dollar players in India's real estate sector outshine the entire GDP of Oman and Sri Lanka. As India and China vie for economic supremacy, this remarkable feat hints at India's intent not just to participate, but to redefine the rules of the game.

Kal hi bola tha na ye real estate me kuch to baat hai!

Meanwhile, people who invested in realty firms are like

BIG PICTURE

Apple opens up NFC payments: rivals can now tap-and-go too!

Apple has agreed to open its tap-and-go NFC (near-field communication) technology to rival mobile wallet developers, settling a four-year EU antitrust investigation. The offer, valid for 10 years, addresses EU concerns over Apple’s previous restriction on third-party developers, which had sparked allegations of unfair competition.

For the next 10 years, European developers can now offer tap-and-go magic for everything from car keys and transit passes to corporate badges and event tickets within their iOS apps.

Kahte hain, "Der aaye durust aaye" – Apple finally decided to play nice, avoiding a hefty fine and adding competition to the contactless payment game.

Brookfield boosts Leap Green Energy with a $550 million investment

Canadian firm Brookfield has breezed into the renewable energy scene with a hefty $200 million equity investment in Tamil Nadu's Leap Green Energy. They've even left the door open to pump in another $350 million down the line.

Leap Green Energy already boasts a sunny and windy portfolio of 775 megawatts, including projects in the works. With Brookfield now in the driver's seat, this green energy race just got a turbo boost!

BUSINESS

Dabur Dominates FY24 with 200,000 New Outlets!

What happened

Dabur India has made a big leap in FY24 by adding a whopping 200,000 new outlets to its network, setting a record in the FMCG industry. This expansion brings Dabur's total retail points to over 7.9 million, making it a household name in 8 out of every 10 Indian homes. 

Mohit Burman, the enthusiastic Chairman of Dabur, highlighted the company's extensive reach, now covering 122,000 villages and directly reaching 1.42 million retail outlets nationwide.

Why it matters

Dabur's ambitious growth strategy goes beyond numbers—it aims to capture consumer loyalty and market leadership across India. With flagship brands like Dabur Chyawanprash and Dabur Honey at the forefront, Dabur is intensifying its focus on rural markets and adapting to changing consumer preferences. 

The introduction of new product categories and digital-first initiatives positions Dabur strongly in the competitive FMCG landscape. The company's goal to expand into 1.3 lakh villages by FY 2024-25 reflects its commitment to sustainable growth and innovation.

Zoom out

Dabur India's FY24 wasn't just about adding —it also saw their digital-first brands bring in a cool ₹100 crore. With total revenues hitting ₹12,404 crore for the year ending March 2024, Dabur isn't just stirring the pot in the FMCG world—it's brewing up a storm. 

Newswala murmurs “Akhir konsa ayurvedic nuskha lga rhe hai Dabur wale?”

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