Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The market fell nearly 1%, with Nifty closing at 23,941, testing support near 23,850. Selling hit IT, banking, and financials, though broader indices limited losses to 0.3%-0.5%. Key support is at 23,700 (200-day DEMA). Oversold conditions may offer opportunities; traders should focus on cautious, selective positioning.

TOP STORIES

Fintechs Eye UPI for Easy Credit

What happened

Non-banking financial companies (NBFCs) in the digital lending space are hoping to get the RBI’s stamp of approval to offer pre-approved credit lines through UPI. After small finance banks got the green light, fintechs are knocking on the same door, hoping for a slice of the action. 

The idea is simple: provide low-cost, short-term credit to customers, particularly those new to credit, using UPI’s massive infrastructure. 

Why it matters

Imagine a world where you could get credit as easily as sending money to a friend via UPI—well, that could soon be a reality. If fintechs get the nod, it would open up a whole new world of low-cost, short-term loans, making credit accessible to people who may have struggled to get it from traditional banks. 

It’s a win-win: customers get quicker access to funds, and fintechs get to show off their tech-driven, low-cost ways of lending. 

That’s not all

The National Payments Corporation of India (NPCI) is gearing up to make UPI a global superstar. With plans to launch in 4 to 6 new countries by 2025, including tourist hotspots like Qatar and Thailand, UPI is set to change the game for international payments.

So, next time you’re abroad, don’t be surprised if UPI is your passport to smoother, faster payments!

PAISON KA KHEL

Tax collection soars as India’s wallet gets heavier

India's net direct tax collection has jumped by 16.45%, reaching ₹15.82 lakh crore by December 17—proof that we're all working a little harder (or just paying more). Corporate taxes contributed ₹7.42 lakh crore, while non-corporate taxes took the lead with ₹7.97 lakh crore. Securities Transaction Tax (STT) also pitched in with ₹40,114 crore. The real star? Advance tax, which grew 20.9%, with non-corporate taxes shooting up by 35%.

Airtel pays 36 billion rupees to clear spectrum dues

Bharti Airtel just dropped ₹3,626 crore to settle its spectrum dues from a 2016 auction—well ahead of schedule. Why the rush? Perhaps the telecom giant wanted to avoid the dreaded late fees or just flex its wealth. Either way, the government’s coffers just got a hefty top-up, and Airtel’s balance sheet is feeling lighter.

TOP STORIES

Stove Kraft Partners with IKEA for Cookware Rollout

What happened

Stove Kraft Ltd has teamed up with IKEA to cook up a new cookware line, set to hit global stores in 2026. The Bengaluru-based company will whip up this range at its 180,000-square-foot Harohalli campus. 

And if you’re wondering about the side dish—shares of Stove Kraft jumped 8.5% to a 52-week high of ₹973.25 on the BSE. The company’s stock has been on fire this year, returning an impressive 110% in 2024, making investors feel like they’ve found the secret sauce to success.

Why it matters

This partnership with IKEA is like adding a turbo boost to Stove Kraft’s global expansion plans. With IKEA’s expertise in manufacturing and supply chain processes, Stove Kraft could level up its operations and get its products into kitchens worldwide. It’s also a strategic move to tap into international markets and add some extra spice to their revenue, with MD Rajendra Gandhi predicting high-teen growth for FY25.  

Zoom out

Stove Kraft’s collaboration with IKEA isn’t just a recipe for success; it’s a full-course meal. With ₹418 crore in revenue last quarter and a solid 11.7% margin, the company is gearing up for an international feast. While we’ll have to wait until 2026 for the cookware to hit shelves, the heat is already on.

GLOBAL NAZARA

French farmers fight back against mega trade deal

French farmers are fuming over the recent trade deal between the EU and South American nations, fearing it could spell the end of the road for their businesses. The agreement, aimed at slashing tariffs and boosting imports, promises a flood of cheap beef, chicken, and sugar from Argentina, Brazil, Paraguay, and Uruguay into the EU. 

With France leading the charge to block the deal, it all comes down to whether other EU nations join the protest. 

Adani Power faces the heat in Bangladesh

Bangladesh’s interim government has accused Adani Power of breaching a multi-billion-dollar energy deal over undisclosed tax perks. Signed in 2017, the contract ties Bangladesh to power from Adani's coal plant, but Dhaka now claims it's overpaying and demands renegotiation. Adding spice, the deal was inked without a tender under former PM Sheikh Hasina—ousted after a student-led revolt.

Since July 2023, Bangladesh owes Adani hundreds of millions, but disputes linger. Meanwhile, Adani denies wrongdoing, calling accusations “baseless.”

TOP STORIES

Is Starbucks Brewing Its Last Cup in India?

What Happened?

Rumours brewed that Starbucks might pack up its coffee cups and leave India, citing rising losses and fierce competition. But Tata Consumer Products Limited (TCPL), Starbucks’ desi partner, shut down these claims, calling them "baseless." 

But yes, rising inflation and real estate challenges have forced Starbucks to slow down store openings. Instead of opening 100 stores this year, it now plans to launch 80. The revised target for next year is 120 stores. 

• With over 450 stores already operating, Starbucks remains India’s largest café chain, doubling its footprint in just four years.

Why it matters

Inflation is tightening middle-class wallets, turning coffee into an occasional luxury rather than a daily ritual. Real estate hurdles, such as finding prime locations, are adding to the challenge. In contrast to markets like China, where rapid urbanisation fuels café growth, India's fragmented real estate market slows expansion.

Still, Tata Starbucks is optimistic. To counter these hurdles, the company is focusing on local strategies: smaller, affordable beverages like the ‘Picco’ cup, regional menu adaptations like Chai Tea Latte, and expansion into Tier-II and Tier-III cities such as Jaipur and Lucknow, where café culture is on the rise.

The numbers game

Starbucks currently operates 457 stores across 70 cities in India, with an ambitious goal of reaching 1,000 stores by 2028. In FY24, the company reported a 12% revenue increase, reaching ₹1,218 crore. However, net losses surged to ₹800 crores, driven by aggressive expansion costs and a 27% rise in promotional spending, which totalled ₹43.2 crores.

MIRCH MASALA

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