Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: This week, the Indian stock market anticipates movements driven by Q1 results, global economic cues, and updates from the Union Budget. Investors are focused on potential impacts of government policies and corporate earnings amidst ongoing volatility during the earnings season.

BUSINESS

Govt and Steel Titans Unite to Conquer Global Markets

What happened

The Indian government and top steel giants like SAIL and Jindal are teaming up for a bold move called the "one nation, one buying coking-coal policy." This game-changing initiative aims to streamline how India buys coking coal from abroad.

Last fiscal year, India imported a whopping 56.04 million tonnes of coking coal worth ₹1.53 lakh crore, mainly from Australia and the US.

Why it matters

So, here's the deal: Right now, each steel company does its own thing when it comes to importing coking coal. That scattered approach? It's like everyone trying to book individual taxis after a concert—total chaos! 

By joining forces, the government and steel bigwigs plan to form a buyers' consortium. This collective effort not only promises more bargaining power but also aims for streamlined logistics and, hopefully, juicier deals for our steelmakers. It's like pooling resources to hire a fleet of limos instead—classy, efficient and ready to roll towards a brighter, coal-efficient future.

Zoom out

With India's steel appetite growing faster than a viral TikTok dance, securing a steady supply of coking coal is crucial. Currently producing 270 million tonnes of iron ore annually, India's sights are set on 2030, aiming for a staggering 437 million tonnes to fuel our steel dreams. 

This surge not only sets the stage for an epic steel saga but also calls for strategic alliances and sturdy policies.

BIG MONEY MOVES

Tata Power charges up Odisha with ₹ 4,200 crore investment

Tata Power has thrown down a hefty ₹4,245 crore in Odisha for infrastructure expansion and upgrades, spreading their electric love across four Discoms. These joint ventures with the Odisha government will light up the lives of over 9 million customers.

Of this mega investment, ₹1,232 crore is courtesy of government-backed schemes, powering up thousands of kilometres of new lines and adding 30,230 new transformers. They’ve also added 166 new primary substations, with more than half being automated. 

Essar to fuel UK's future with Europe's first hydrogen plant

Essar Energy Transition (EET) is launching EET Hydrogen Power, the UK's first hydrogen-ready plant at Stanlow by 2027. This plant will generate 125 MW of power and 6,000 tonnes of steam daily, cutting 740,000 tonnes of CO2 annually by replacing old boilers.

This move supports EET's $3 billion NW England energy makeover, aiming to take the lead in low-carbon hydrogen.

BUSINESS

Mercedes-Benz Sparks Plans for More EVs in India

What happened

Mercedes-Benz is cooking up a plan to amp up its electric vehicle (EV) game in India. The luxury carmaker is eyeing more local assembly at its Chakan plant to cut costs and push towards a zero-emission, carbon-neutral future. Currently, they're putting together their posh electric sedan, the EQS, right here in India. And they're thinking of rolling out more EV models based on what the desi market craves.

Why it matters

The buzz around ramping up EV assembly is pretty exciting for a few good reasons. First off, local production could mean big savings. Take the case of the locally pieced-together EQS, now available at approximately ₹1.5 crore, a steal deal compared to its pricier imported version. This affordability twist could potentially make luxury EVs more within reach for Indian enthusiasts. 

Secondly, assembling locally helps Mercedes-Benz gain invaluable insights into EV manufacturing, bolstering its grand shift from gas guzzlers to electric wonders. Their global Ambition 2039 scheme aims for complete carbon neutrality in their vehicle lineup by 2039, with factories worldwide juiced up solely on renewable energy sources.

Zoom out

While keeping a close eye on what the market wants, Mercedes-Benz isn't shying away from splashing more cash into local EV production. Their recent stats speak volumes: sales are up by 9% and EV sales soaring by a whopping 60% in the first half of 2024. 

BIG PICTURE

JPMorgan laughs all the way to $18.15 billion profit

JPMorgan Chase is on a roll, raking in a cool $18.15 billion profit in Q2, up from last year's $14.47 billion. Thanks to a 50% jump in investment banking fees and an $8 billion gain from a share swap with Visa, they’re swimming in cash.

Net interest income rose 4% to $22.9 billion, showing strong lending despite the deposit race. JPMorgan's definitely hit the jackpot this quarter!

Adani Group set to make waves in Vietnam with new port

Gautam Adani's conglomerate is setting sail for Vietnam! Adani Ports and Special Economic Zone Ltd. snagged "in-principle" approval from the Vietnamese government for a new greenfield port, aiming to boost trade and infrastructure overseas. The plan includes container terminals and multipurpose berths, though the total investment is still being charted out.

Adani's shares showed a slight rise, closing 0.12% higher at ₹1486.40, reflecting investor optimism. This venture marks their fourth international port, joining Israel's Haifa, Sri Lanka's Colombo and Tanzania's Dar es Salaam. 

BUSINESS

D-Mart Scores ₹773 Crore in Q1 Profits

What happened

Avenue Supermarts, the genius behind the DMart retail chain, reported its fiscal first-quarter results for 2024-25 on July 13. Backed by the savvy Radhakishan Damani, they clocked a whopping 17.5% jump in net profit, soaring to ₹773.8 crore from ₹658.8 crore last year. 

• Revenue from their hustle and bustle operations jumped 18.6% to ₹14,069 crore, with expenses rising in sync to ₹13,056.61 crore.

Why it matters

Well, DMart's secret sauce lies in their everyday low cost - everyday low price (EDLC-EDLP) strategy, snagging killer deals on goods left and right. 

• Their EBITDA surged, growing 18% to ₹1,221.3 crore, maintaining a cool 8.68% margin. 
  
  

• EPS? Impressive at ₹11.89 for Q1FY25, up from ₹10.14 in Q1FY24.
  
  

Building on its momentum, DMart has strengthened its footprint by inaugurating six new stores, now totalling 371 outlets nationwide.

Zoom out

With shares dancing up on the BSE, the retail champ is gearing up for more triumphs ahead. By mastering efficient procurement and cutting-edge logistics, DMart ensures your shopping spree leaves your wallet smiling. With their wallet-friendly approach and unstoppable expansion into new stores, DMart isn't just revolutionizing retail—they're setting a new standard.

MIRCH MASALA

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