Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Sensex and Nifty ended higher despite market volatility, with IT stocks like TCS, HCL Technologies and Infosys leading the gains. However, most other sectors, including healthcare, oil & gas and realty, closed in the red, dragging midcap and smallcap indices down by 0.5% each.

TOP STORIES

Google may be forced to sell key businesses

What happened

The US Department of Justice (DOJ) is considering a dramatic antitrust action against Google following a court ruling that accused the tech titan of monopolising online search markets. The DOJ is exploring various remedies, including forcing Google to sell off significant assets like its Android operating system and Chrome browser. 

• Google could also be required to offload its lucrative Ads platform, which generated over $100 billion in revenue in 2020. 
  

Additionally, the DOJ might mandate Google to share more data with competitors and ban exclusive contracts, such as those with Apple and Samsung, which cost Google around $26 billion.

What’s next?

If implemented, this breakup could reshape the tech landscape drastically. Google’s Android and Chrome are key to its market dominance, with Android running on about 2.5 billion devices globally. Selling these assets would not only weaken Google’s control but also provide opportunities for rivals.

Furthermore, requiring Google to share data with competitors could level the playing field in the search and ad markets. The potential ban on exclusive contracts would impact billions in payments, particularly to Apple, shifting how default search engines are determined on various devices and browsers.

Final words

The DOJ’s proposed actions against Google could mark the most significant antitrust move since the breakup of AT&T in the 1980s. While Google plans to appeal, the outcome could redefine competition in the tech industry. For now, the tech world watches closely, wondering if the DOJ’s plans will lead to a major shake-up in how we interact with technology.

PAISON KA KHEL

Nykaa splashes ₹265 crore for a bigger slice of Dot & Key, grabs Earth Rhythm too

Nykaa is on a shopping spree! The beauty giant is upping its stake in Dot & Key from 51% to a whopping 90%, shelling out ₹265 crore for the extra 39%. But that's not all—Nykaa is also grabbing a majority stake in Earth Rhythm, a homegrown clean beauty brand, adding to its impressive portfolio. Founders Suyash and Anisha Saraf will continue steering Dot & Key's ship, while Nykaa plans to sprinkle more investment magic on the brand. 

Essar Oil’s ₹3,000 crore bet to boost gas production in Raniganj

Essar Oil and Gas is set to pump ₹3,000 crore into its Raniganj CBM block in West Bengal, aiming to boost gas production and grab a larger slice of India's energy pie. Currently contributing 1% to the nation’s gas output, the company is set on increasing this to 5% over the next five years. With 80% of their 500 sq km acreage still untapped, Essar plans to ramp up production from 0.93 to nearly 5 million standard cubic meters of gas. 

TOP STORIES

Ola Electric Powers Up: Revenue Rockets 29%

What happened

Ola Electric is buzzing with excitement this quarter! The electric scooter champ saw its revenue leap by a hefty 29%, reaching ₹1,644 crore—up from ₹1,598 crore last quarter. This growth comes on the back of an electrifying surge in deliveries for its S1 X scooters and a strong showing from its other models. 

However, it's not all sunshine and rainbows; the company’s loss widened to ₹347 crore from ₹267 crore a year ago.

Why it matters

Ola Electric’s revenue growth shows it’s gaining traction, but the expanded loss reveals that scaling up isn’t without its bumps. The big news is the move to manufacture its own battery cells, a game-changer that could slice over 20% off the cost of cells, which make up 30-35% of a vehicle’s price. This could mean a boost to profitability and more savings for the company—and potentially for customers too.

The IPO, featuring a sale of nearly 85 million shares and a fresh issue of ₹5,500 crore, has generated quite the buzz. The stock’s rollercoaster ride reflects investor excitement, even as the company grapples with financial growing pains.

Wrap up

Ola Electric’s Q1 performance is like a thrilling ride: impressive revenue gains but a few potholes along the way. As the company gears up to roll out its in-house battery cells and new motorbikes, it’s clear that the road ahead is filled with potential.

The company stock, which recently made its debut at ₹76, went on a wild ride, hitting a high of ₹130 before settling at ₹110.99. 

GLOBAL NAZARA

Mars to acquire Pringles maker Kellanova in $36 billion deal

Mars has agreed to buy Kellanova, the company behind Pringles and Cheez-It, in a blockbuster deal valued at $36 billion, including debt. Kellanova shareholders will receive $83.50 per share, a 33% premium over its August 2 closing price. This move significantly expands Mars' snack portfolio, which already includes Snickers and M&M’s. 

The deal ranks among the top 10 global food and beverage M&A transactions since 1995 and is the fourth-largest this year.

Bigg Boss turns ad goldmine for southern brands

Bigg Boss is not just drama—it's a goldmine for brands, especially in Tamil and Malayalam markets. A study by Unomer Technologies found that brands advertising on Bigg Boss Tamil and Malayalam saw a whopping 57% boost in top-of-mind awareness, a 26% jump in consideration and a 33% rise in purchase intent.

With 50 sponsors and 200 advertisers on board, the show racked up 150 billion minutes of viewership, reaching 170 million people. Clearly, Bigg Boss is the ultimate stage for brands to shine, proving that in the South, entertainment and advertising go hand in hand.

TOP STORIES

Apple’s Record-Breaking India Run

What happened

Apple just hit the jackpot in India, with its business skyrocketing to a whopping $23.5 billion (₹2 lakh crore) in FY24—nearly doubling from ₹1.15 lakh crore the previous year. This incredible boost is thanks to a surge in iPhone production, alongside strong sales of MacBooks, iPads, Watches and AirPods. 

• According to the Economic Survey, India is now Apple’s golden goose, contributing 14% to its global production, up from just 7% in FY23. 
  
  

• And the iPhones? They’re the real MVPs, with $15 billion (₹1.35 lakh crore) worth shipped out last year, marking the fastest production growth Apple’s seen in half a century.
  
  
  

Why it matters

Apple's rapid growth in India is no small feat. By shifting part of its supply chain from China, Apple is turning India into a key hub for global exports. With the government’s smartphone production-linked incentive (PLI) scheme fueling the momentum, Apple produced iPhones worth ₹1.8 lakh crore in FY24, with 75% of that exported.

This expansion has not only boosted Apple's sales but also created over 150,000 jobs in the country, making it a win-win for both the tech giant and India’s economy.

Conclusion

In a world where geopolitics and supply chains are constantly shifting, Apple’s India story is a blockbuster. The company’s success in India reflects its strategic pivot and the immense potential of the Indian market. As Tim Cook eyes India as a "major focus," Apple’s continued investment and expansion here seem to be a long-term play. 

MIRCH MASALA

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