Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The market stayed within a narrow range as investors awaited domestic CPI data and monitored the weakening rupee. While inflation is expected to ease, the focus remains on vegetable prices, which could shape future rate decisions, even as the Nifty IT index hit a record high following upbeat US inflation data.

TOP STORIES

Is Copper the Next Big Thing?

What happened

JSW Group, India’s steel bigwig, is toying with the idea of adding copper and aluminium to its metal menu. CEO Jayant Acharya hinted that these plans are still baby steps, but the demand for these shiny metals, fueled by the electrification boom, has caught JSW’s attention.

Meanwhile, the steel business is having a rough day at the office. EBITDA margins have taken a nosedive, dropping to ₹9,500 per tonne from ₹12,500 last fiscal. The culprits? 

• A 54% jump in cheap steel imports, with China sneaking in almost half of it.

Why it matters?

This pivot could be JSW’s golden ticket to buffer the unpredictability of the steel business. Copper and aluminium are the new rockstars of the electrification and renewable energy world, showing up in electric vehicles, solar systems, and practically anything shiny with wires. If JSW pulls it off, these metals could turbocharge their revenue streams.

But the steel drama isn’t over. Cheap imports have domestic producers slashing prices, and while the government’s proposed 25% safeguard duty on imports could save the day, delays are leaving everyone on edge. 

How is the future?

India’s steel consumption per person is at 98 kg a year—way behind the global average of 233 kg. It's like we're still in the early innings of a cricket match, with plenty of room to catch up. But here's the exciting part: experts predict that by FY31, India's steel consumption could soar to 160 kg per capita. 

In the short run, copper and aluminium could be JSW’s insurance policy against steel sector woes. But like any great gamble, it’s all about timing and balance.

PAISON KA KHEL

SolarSquare shines bright with $40 million funding

SolarSquare, a rooftop solar startup, has raised $40 million in series B funding led by Lightspeed, with support from Lightrock and others like Elevation Capital and Lowercarbon. The company plans to expand from 20 to 50 cities, double its 800-strong workforce, and invest in branding and tech, including a high-tech system for remote monitoring of solar setups.

Founded in 2015, SolarSquare offers a seamless solar experience, managing everything from design to installation and maintenance.

Warburg splashes ₹1,200 crore on Shriram Housing

Warburg Pincus is throwing in ₹1,200 crore into Shriram Housing Finance—20% more than planned. This comes after their ₹4,630 crore buyout of the lender, the biggest deal in India’s housing finance world.

The extra cash is a nod to Shriram’s stellar performance, with assets jumping 52% yearly over three years to ₹15,236 crore by September and a tiny NPA of just 1.03%. They even raked in ₹217 crore profit in FY24.

TOP STORIES

India's Real Estate Market Hits New Heights

What Happened

India’s real estate market is on fire in 2024! Office leasing has hit a record high of 53.3 million sq. ft in just nine months—yep, that’s enough space to build a small city or a few thousand new coffee shops. 

Bengaluru, Hyderabad, and Pune are leading the charge, with global capability centres (GCCs) hogging 38% of the action. On top of that, foreign investments are rolling in like never before, jumping by 46% to $8.9 billion.

Why It Matters

What’s the big deal, you ask? Well, it’s a sign that India’s economy is bouncing back post-pandemic with a vengeance. Demand for top-notch office spaces is soaring, and international investors are taking notice. 

Big cities are still in the game, but surprise surprise—tier-II and III cities like Ludhiana and Indore are stepping up and making things interesting. Rental prices are creeping up, and investments are flooding in like a Bollywood blockbuster. Oh, and don’t forget about the booming luxury retail sector and sustainable warehousing.  

Zoom out

India’s real estate market is clearly at its moment. With office leases, foreign investments, and industrial space soaring, it’s safe to say the market is thriving. Bengaluru, Hyderabad, and Delhi-NCR are still the main characters, but tier-II and III cities are quickly becoming the supporting cast. And let’s not forget about the industrial and logistics boom, with a cool 27.5 million sq. ft snapped up for warehouses and distribution centres.

GLOBAL NAZARA

OPEC slashes 2024 demand forecast by 210,000 barrels a day

OPEC is having a bit of a reality check. The oil cartel has reduced its 2024 global oil demand forecast by 210,000 barrels per day to 1.6 million barrels a day. This marks the deepest cut yet and comes after five straight months of downgrades. 

Since July, OPEC has slashed its predictions by 27%, finally acknowledging a tough market. While oil prices have fallen 17% since July (thanks to China's slowdown and booming America's supply), OPEC's outlook remains rosier than most others.

Blackstone bags Tokyo treasure for $2.6 billion

Blackstone is splurging $2.6 billion on Tokyo Garden Terrace Kioicho, a stunning mixed-use gem sold by Seibu Holdings. This skyscraper stunner features a 36-story office tower, rental apartments, a hotel, and swanky retail spaces—basically, a one-stop dream complex.

With a weak yen and low borrowing costs, Japan’s real estate market is irresistible, and Blackstone plans to pump billions of yen into upgrades to make this trophy asset shine even brighter.

TOP STORIES

India Becomes PepsiCo's Anchor Market

What Happened

PepsiCo just gave India a major thumbs-up, officially naming it one of its 13 "anchor markets" . Alongside heavyweights like China and the Middle East, India will play a key role in PepsiCo’s global growth strategy.

The company’s been facing some hiccups in its larger markets, particularly the U.S., so it’s restructuring its global business, including creating an International Beverages Region. 

Why It Matters

India’s snack and beverage market is a goldmine, and PepsiCo wants in on that action. 

• The snack market is already worth ₹42,694 crore and is set to double by 2032. 
  
  

• Meanwhile, India’s non-alcoholic beverage market is expected to soar to ₹1.47 lakh crore by 2030. 
  
  

Aerated drinks and bottled water will be leading the charge, and PepsiCo is hoping to grab a larger slice of the pie. The company’s focus on India, despite its challenges elsewhere, shows just how critical this market is to PepsiCo’s future growth.

Final words

PepsiCo's focus on India is a savvy move. Despite fierce competition from Coca-Cola, Reliance, and a host of local brands, PepsiCo's India operations are thriving with double-digit growth. With a booming market and increasing demand for snacks and beverages, India is poised to become a key driver in PepsiCo’s global strategy.

So, the next time you enjoy a Pepsi or munch on Lay’s, just know—you’re not only enjoying a snack, you're fueling the future of one of the world’s biggest brands!

MIRCH MASALA

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