Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The markets extended their winning streak, gaining over 1% due to positive global cues and the US Federal Reserve keeping interest rates unchanged. Strong buying across sectors and short covering on the weekly expiry day pushed the Nifty to close near its high at 23,190.65.

TOP STORIES

From $70 Million to Near Bankruptcy

What Happened?

Once hailed as a rising star in India’s e-commerce scene, 10Club is now on the verge of bankruptcy. The Bengaluru-based startup made waves in 2021 by securing a record-breaking $40 million seed funding round. 

By June 2022, it had raised an additional $30 million, bringing its total funding to $70 million. However, fast forward to 2025, and the company is reportedly preparing to file for insolvency with the National Company Law Tribunal (NCLT).  

Why It Matters

10Club followed the ‘Thrasio model,’ acquiring and consolidating multiple small e-commerce brands to streamline operations and boost profits. The strategy looked promising, but execution proved challenging.

The company’s net loss skyrocketed from ₹16.6 crore in FY22 to ₹116.3 crore by March 2024. Its focus on home accessories and furnishings seemed viable but struggled against established players like IKEA.  

Zoom Out

10Club’s downfall highlights the difficulties of the e-commerce aggregation business, which operates on razor-thin margins.

Globally, the model has faced similar struggles—Thrasio, the pioneer of the strategy, shut down in November 2023 despite once being valued at $10 billion.

PAISON KA KHEL

Air India’s Big Shopping List ✈️

Air India, under the Tata Group’s wing, is reportedly eyeing a jumbo deal for 30 to 40 widebody jets, possibly stretching to over 50.

The shopping list includes Airbus A350s and Boeing 777Xs, with hopes to seal the deal by the Paris Air Show in June. 

This comes on the heels of their previous order for 470 planes in 2023, predominantly narrow-body aircraft. 

With a travel boom ahead—15-20% more Indians flying abroad—Air India is getting ready for a strong comeback.

Hindalco’s Invests in the Future of Metals 🪙

Hindalco Industries is rolling out a massive ₹45,000 crore investment across its aluminium, copper, and speciality alumina sectors.

This move aims to bolster both upstream operations and next-gen, high-precision engineered products. 

Not stopping there, Hindalco is venturing into the electric vehicle (EV) arena by establishing India’s first copper foil facility dedicated to EVs. 

Additionally, the company is enhancing its renewable energy capacity by 150 MW, reaching a total of 350 MW.

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TOP STORIES

BluSmart Reshuffles, Sells 2,997 EVs 🚘

What Happened?

BluSmart Mobility, India’s all-electric cab service, is making big changes to keep its business running smoothly. The company, which pulls in ₹70 crore every month (₹840 crore a year), is tweaking its fleet management strategy.

Gensol Engineering, a close partner of BluSmart, is selling 2,997 electric cars to Refex Green Mobility. 

Why It Matters?

But don’t worry—BluSmart isn’t losing its cars! Instead, Refex will lease them right back. Plus, the deal shifts ₹315 crore of Gensol’s loan to Refex, easing financial stress.

BluSmart’s losses doubled from ₹100.4 crore in FY22 to ₹215.9 crore in FY23. To survive, they need to cut costs and stay efficient—which is exactly what this deal does.

The Bigger Picture

This also shows how India’s EV business is changing. Instead of buying vehicles outright, BluSmart is using a new model where investors lease cars to them. So far, 1,000 EVs worth ₹150 crore have been added this way.

A Rumour

There were rumours that Uber might buy BluSmart. But the company has denied them, saying, “That’s not happening!” Instead, BluSmart is focused on growing and becoming profitable in the next 6-8 quarters.

GLOBAL NAZARA

Norway’s Big Bet on London 🌇

Norway’s $1.8 trillion sovereign wealth fund just went on a London shopping spree, dropping £570 million ($739 million) for a 25% stake in Covent Garden’s prime real estate.

The lucky seller? Shaftesbury Capital, which saw its stock jump 16% before settling at 8.9%. 

This isn’t NBIM’s first rodeo—just in January, they shelled out £306 million for a piece of the Duke of Westminster’s estate. Clearly, Norway loves British real estate more than fish and chips! 

Prologis Returns to India with $500 Million  

After ghosting India in 2007, Prologis is back—this time with a $500 million purse to build warehouses across five major cities. 

The world’s largest warehouse firm, with a 1.3 billion sq.ft. global portfolio is betting big on India’s 438 million sq.ft. warehousing market.

Already, it has grabbed 200 acres in Chennai, 40 acres in Hosur, and 30 acres in Bengaluru.

With Amazon as a key client, Prologis plans to go full throttle, developing and leasing Grade A facilities. And if all goes well, it might double its India investment in the next 5-7 years.

TOP STORIES

BIS Cracks Down on E-Tailers 🚨

What Happened?

The Bureau of Indian Standards (BIS) recently raided multiple warehouses of Amazon and Flipkart, seizing hundreds of non-certified products, including toys, hand blenders, and water bottles. 

The raids were conducted in Delhi, Gurugram, and Lucknow, with BIS officials confiscating over 1,000 uncertified items.

Why It Matters?

E-commerce giants like Amazon and Flipkart thrive on consumer trust, and selling non-certified products is a direct hit to their credibility. 

BIS certification ensures product safety, and violating it could mean huge penalties—ranging from ₹2 lakh to 10 times the product’s value. Worse, offenders may face up to two years in jail.

Final Words

For consumers, this raises concerns about product quality and safety. Nobody wants a water heater that turns into a fire hazard or a blender that stops working mid-smoothie.

These raids signal a stronger push for compliance, ensuring that online shoppers get products that meet safety standards.

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