Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Benchmark indices ended the week on a high, with banking and financial services shares leading the rally. The Sensex rose by 1,381.99 points to 84,544, while Nifty50 gained 375.15 points to close at 25,790.

TOP STORIES

Sony India Plots SET Comeback with Stronger Fiction 

What happened?

Sony Pictures Networks India (SPNI) is all ‘set’ for a makeover, starting with its flagship Hindi general entertainment channel, Sony Entertainment Television (SET). Under new CEO Gaurav Banerjee, the company is on a mission to boost its market share and improve its content offering, especially in fiction. 

Currently, SET controls just 8% of the market, lagging far behind heavyweights like Star Plus, Colors, and Zee TV. 

A recap

SET is known for its non-fiction hits like Kaun Banega Crorepati (KBC), Shark Tank India, and MasterChef, but its weak fiction lineup has been a major drawback. In the world of Hindi general entertainment, scripted dramas dominate, making this a critical gap. To address this, CEO Gaurav Banerjee has already axed underperforming shows like Kavya and Pukaar. 

With over a decade of experience managing top channels and Disney+ Hotstar’s portfolio, Banerjee is seen as the ideal leader to close this content gap and steer SET towards success.

Final plan

For Sony, the goal is to get SET back in the game, but they’re not putting all their bets on it alone. SAB TV, another Sony-owned channel, is also getting a push. 

• Currently holding an 18% market share in the Hindi GEC space, SAB is positioned as a family entertainment hub. 
  
  

• As part of its new strategy, Sony moved Shrimad Ramayan from SET to SAB to further cement its family-friendly image.
  
  

The regional TV market is another big opportunity. Experts note that while the Hindi market is declining, regional channels, particularly in the South, are driving growth. SPNI isn’t ignoring this—regional expansion is in the cards, both through organic and inorganic means.

PAISON KA KHEL

OYO checks in by snapping up Motel 6 for $525 million

OYO's parent company, Oravel Stays, is diving into the American market with a $525 million all-cash deal with Blackstone to acquire G6 Hospitality, the folks behind Motel 6 and Studio 6. This move expands OYO's reach in the U.S., with the deal expected to wrap up by late 2024. 

With over 1,500 hotels in the U.S. and Canada, the Motel 6 franchise clocks $1.7 billion in room revenue annually. 

Adani Total Gas fuels growth with $375 million funding

Adani Total Gas (ATGL) is hitting the gas pedal on growth after securing $375 million in funding, which includes an initial $315 million commitment. This boost, supported by five international banks such as BNP Paribas and Mizuho Bank, will enable ATGL to fast-track its City Gas Distribution (CGD) network across 34 regions in 13 states, targeting over 200 million people—roughly 14% of India’s population! 

TOP STORIES

Vodafone Idea Bets Big with $3.6 Billion Upgrade

What happened?

Vodafone Idea (Vi) has taken a bold step towards its future by signing $3.6 billion (around ₹30,000 crore) worth of contracts with telecom giants Nokia, Ericsson, and Samsung. This spending spree is part of Vi’s larger ₹55,000 crore ($6.6 billion) capital expenditure plan to boost its 4G and 5G services over the next three years. 

Why it matters?

For Vi, this move is nothing short of crucial. Struggling under a massive ₹2.1 trillion debt and delayed 5G rollout, the company desperately needed to act. The contracts, which have been funded partly by Vi’s ₹24,000 crore equity raise, signal that the telecom provider is finally ready to take on its competitors.

Vi CEO Akshaya Moondra announced that this deal is the beginning of a new chapter, aiming to improve customer experience and roll out advanced network technology across India. Nokia and Ericsson, long-time partners, have worked with Vi since its inception, while Samsung will bring its expertise, having worked with Airtel.

Conclusion

Vi’s plan to expand 4G coverage from 1.03 billion to 1.2 billion people while launching 5G in key markets could improve its market position. This rollout of advanced 4G and 5G networks is a much-needed lifeline for Vi as it tries to regain customer trust and market share. 

However, whether this ambitious investment will truly turn things around remains to be seen, as the company still faces significant debt and operational challenges. 

GLOBAL NAZARA

India takes aim at EU’s extra duties

India is gearing up for a $1.1 billion counterattack against the European Union's extended steel duties, which just got a two-year lease on life. After failed talks, India has proposed to either slap extra tariffs on EU imports or roll back trade concessions for the 27-nation bloc. Since 2018, these safeguard measures have cost India a whopping $4.41 billion, so it’s time to collect!

With India exporting $6.64 billion worth of steel last year, the EU's tactics might just turn into a case of “what goes around, comes around.” 

Blinkit and Big Basket in a fast & furious race

Blinkit and Big Basket went head-to-head to deliver the iPhone 16 at lightning speed. Both hit the 300 mark within hours of the September 20 launch, but Big Basket stole the show by delivering 372 iPhones in just 100 minutes – that’s 3 iPhones per minute! Hari Menon, Big Basket’s co-founder, boasted about the feat on X, formerly Twitter. Not far behind, Blinkit CEO Albinder Dhindsa clocked in 1 iPhone per minute.

TOP STORIES

Calls Grow for Disinvestment in Public Sector Banks

What happened?

At a recent CII event in Kolkata, top bankers suggested that the government should jump on the disinvestment train for public sector banks. The logic? The banks are in fantastic shape right now—low non-performing assets (NPAs) and a healthy capital base make them ripe for investment. 

UCO Bank’s Managing Director Ashwani Kumar even pointed out that the government holds over 90% of several banks, making them prime candidates for a sell-off. With the markets looking good, it might be the perfect time to capitalise on this.

Why it matters

Indian banks haven’t had it this good in years. The net NPA ratio has dipped to an impressive multi-year low of 0.6%, while public sector banks are sitting pretty with a capital adequacy ratio of 15.53%. This means that the banks are profitable, well-capitalized, and far from the crisis they once faced. This stability could make disinvestment a money-spinner for the government.  

The disinvestment process could also help the government’s goal of boosting bank credit as a percentage of GDP, which currently sits at 56%—far behind the nearly 100% seen in advanced economies. 

Conclusion

If done right, selling stakes in banks could help generate funds that can be reinvested into improving credit availability, expanding the banking sector, and pushing growth. After all, public sector banks have spent close to ₹47,000 crore on technology upgrades and development over the past three years, showing they’re serious about modernizing and adapting to a digital future.

*CII stands for Confederation of Indian Industry.

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