Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Global markets send mixed signals amid China's disinflation and weak data, signalling a potential slowdown. India's market remains resilient with lower oil prices, while IT and financial sectors attract interest.

TOP STORIES

Noel Tata's Appointment: A Step Toward Healing Tata-SP Group Feud

The Beginning of a New Chapter

The long-standing rift between the Tata Group and the Shapoorji Pallonji (SP) Group may finally be on the mend with Noel Tata's appointment as Chairman of Tata Trusts. Noel, a key family member—brother-in-law of the late Cyrus Mistry and son-in-law of the late Pallonji Mistry—has taken on the role, signalling the potential for reconciliation between the two groups.

The fallout began in 2016 when Cyrus Mistry was ousted as Tata Sons Chairman, leading to a bitter corporate battle despite the groups' deep business and family ties.

A Chance for Healing and Growth

This development could not only heal personal and professional rifts but also reshape the business landscape. The SP Group, holding an 18% stake in Tata Sons, had been locked in a standoff with Tata Trusts, which controls 66%. 

Reconciliation might pave the way for future collaboration or even help resolve the thorny issue of SP Group's stake in Tata Sons—currently valued at over ₹3 lakh crore. This could also smooth the path for SP Group's planned IPO for Afcons, its infrastructure arm. With Noel's reputation for calm leadership, there's a growing optimism that the old wounds may heal.

Looking forward

While the Tata and Mistry families have long been entwined through both marriage and business, the last seven years have seen deep divisions. Noel Tata’s appointment may finally usher in an era of cooperation, benefiting both sides.

Though reconciliation will take time and complex negotiations—especially around the SP Group's stake in Tata Sons—there’s hope that Noel Tata’s steady hand will help guide this historic relationship towards a brighter future.

PAISON KA KHEL

💄 Purplle’s ₹1,500 crore beauty boost with Blume and Premji Invest

Purplle’s latest ₹1,500 crore funding round has beauty investors grinning. Led by Abu Dhabi Investment Authority (ADIA), the round saw Blume Ventures and Premji Invest doubling down, while Sharrp Ventures hopped on board. 

Purplle, known for its vast online beauty offerings, is prepping to expand offline, with plans to open 5-10 new stores. This follows their July ₹1,000 crore raise, bumping their valuation to a fabulous $1.25 billion. With FY24 revenue at ₹680 crore and losses trimmed to ₹124 crores, Purplle’s all set for a glamorous expansion. 

🏘️ Godrej Properties buys land for ₹9,650 crore projects amid housing boom

Godrej Properties is on a land-buying spree, acquiring six parcels in Q2 FY2024-25 to launch housing projects worth ₹9,650 crore. The real estate giant has set its sights on tapping the booming demand in India’s housing market. The company now boasts a total of eight land parcels this fiscal year, covering 11 million square feet with a sales potential of ₹12,650 crore. 

CEO Gaurav Pandey proudly announced they’ve hit 63% of their land acquisition target, ensuring a strong project pipeline. Meanwhile, sales bookings jumped 3% to ₹5,200 crore—looks like Godrej’s house party is just getting started!

TOP STORIES

Rising Food Prices Push India's Inflation Beyond RBI Target

What Happened

India's retail inflation spiked to 5.49% in September, up from a five-year low of 3.65% in August. This rise was fueled primarily by a steep increase in vegetable prices, notably tomatoes and onions. A lower base from the previous year also contributed to the acceleration. 

• This is the first time inflation exceeded the Reserve Bank of India's (RBI) medium-term target of 4% since July. 

• Food inflation, which accounts for about half of the overall Consumer Price Index (CPI), surged to 9.24%, while urban and rural inflation climbed to 5.05% and 5.87%, respectively.
  

Why It Matters

When food prices surge, it pinches everyone's wallet, especially since food makes up a large chunk of household expenses in India. With vegetables like tomatoes turning into luxury items, the rising costs directly hit consumers. This spike is significant as it breached the RBI’s target range, raising concerns about the overall cost of living. 

The central bank, which was banking on stable inflation, might need to rethink its strategy. And let’s not forget—when inflation is galloping like a horse, the RBI keeps a tight leash on interest rates, which could affect your loans and EMIs.

Zoom out

While September's inflation data may have given everyone a jolt, the RBI isn't hitting the panic button just yet. They’re betting on a strong monsoon harvest to tame runaway vegetable prices by the end of the year.

However, keeping an eye on global factors like fuel prices and international edible oil rates will be crucial. So, if you've been seeing your grocery bills swell, it’s not just you—it’s inflation taking the reins, at least for now.

GLOBAL NAZARA

⚛️ Google turns to nuclear power for data centres, partners with Kairos Power

Google announced plans to purchase power from Kairos Power’s small modular reactors (SMRs) to meet its growing data centre energy demands. The first SMR is expected to be operational by 2030, with additional reactors to follow by 2035, adding 500 megawatts of power to the grid.

Nuclear energy is seen as a reliable, clean option for tech companies aiming to reduce emissions. This marks a growing trend, with companies like Microsoft and Amazon also investing in nuclear power. Google believes SMRs offer cost-effective, faster-to-build alternatives to traditional nuclear reactors.

🤖 Nvidia hits record high, market cap tops $3.4 trillion in AI surge

Nvidia shares soared to a record close of $138.07, up 2.4%, pushing the AI chipmaker’s market cap past $3.4 trillion. This marks a nearly 180% yearly increase, fueled by massive demand for its AI chips from tech giants like Microsoft, Meta, Google, and Amazon.

Nvidia now controls 95% of the AI chip market, driving revenue growth that more than doubled over the last five quarters. With next-gen GPUs like Blackwell seeing “insane” demand, Nvidia is riding the AI wave, second only to Apple in market value.

TOP STORIES

Giva Raises ₹255 Crore to Expand Retail and Lab-Grown Diamonds

What happened

Jewellery brand Giva has secured ₹255 crore in an extended Series B funding round. The round was led by Premji Invest, with new investors such as Epiq Capital and Edelweiss Discover Fund joining in, along with Giva's top management. Of the total amount raised, 35% was through primary investment, while 65% came via secondary transactions, allowing partial exits for existing investors like A91 Partners and India Quotient. 

Why it matters

Giva’s growth mirrors the rising trend of lab-grown diamonds, which are gaining popularity for being more affordable while maintaining the same sparkle as their natural counterparts.

•  The company’s revenue nearly doubled to ₹167 crore in FY23, though losses also grew, reaching ₹45 crore.

With 160 stores across India and plans to open 100 more annually, Giva is making a strong push into physical retail. The additional funding also highlights growing investor interest in omnichannel jewellery platforms, following similar rounds by competitors like Bluestone.

What’s next

Giva's strategy is clear: expand, innovate, and solidify its position in India’s competitive jewellery market. The new funding will help them scale their retail footprint and boost their lab-grown diamond offerings, catering to the demand for affordable luxury.

With an eye on a potential IPO in the next two years, Giva is positioning itself as a major player in the affordable fine jewellery space, though it will need to manage its growing losses as it continues to scale.

MIRCH MASALA

😡 Zepto sparks outrage with ‘Miss You, Says I-Pill’ notification

💕 Aussie woman shares her dating struggles in India 

📨 Man's resignation letter goes viral after quitting on first day due to toxic manager

🐄 Python swallows nilgai calf, locals rush to rescue

💵 This person chose ₹18 lakh package over ₹23 lakh offer