Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The stock market had a wild ride yesterday, with the Nifty closing 36 points down and the Sensex losing 120 points after a volatile session. While IT stocks surged 2.5%, the Healthcare and Pharma sectors took a hit, dropping over 1.5% as selling pressure resurfaced at higher levels.

TOP STORIES

Indian Entertainment Industry Loses ₹ 22,400 Crore to Piracy 

What Happened

According to a report by EY and the Internet and Mobile Association of India (IAMAI), piracy caused India's entertainment industry to lose a staggering ₹22,400 crore in 2023. 

• This report highlights that ₹13,700 crores was lost from movie theatres, while ₹8,700 crores was attributed to pirated content on OTT platforms.
  

Alarmingly, 51% of media consumers in India admitted to accessing content from unauthorised sources, with streaming services accounting for a whopping 63% of this figure. The potential Goods and Services Tax (GST) losses were estimated to reach ₹4,300 crore!

Why It Matters

The digital entertainment market is on a growth trajectory—expected to hit ₹14,600 crore by 2026 but piracy remains a significant threat. Younger audiences, particularly those aged 19 to 34, are the primary culprits, with many citing high subscription fees and the hassle of managing multiple accounts as reasons for resorting to piracy. 

Interestingly, as much as 64% of those who consume pirated content would consider switching to legal platforms if they were offered free access, albeit with ads. This statistic suggests that content providers may need to rethink their pricing strategies and improve access to attract viewers away from the piracy trap.

Zoom out

The fight against piracy requires a united front. Mukul Shrivastava from EY warns that current measures are insufficient and advocates for stricter regulations and technological solutions to protect intellectual property.

Piracy is especially rampant in Tier II cities, where access to legal content is limited. With the industry losing billions, it’s clear that collaborative efforts among stakeholders—government, industry players, and consumers—are essential to reclaim these losses.

PAISON KA KHEL

Azure Power’s $180 million loan refinance mission

Azure Power plans to refinance loans worth $150-$180 million (₹1,250-₹1,500 crore) by the end of this financial year to cut costs and replace maturing debt. Already sitting on a hefty $1.3 billion (₹10,790 crores) in total debt, Azure has been busy, refinancing $500 million (₹4,150 crores) between July and October, saving interest costs along the way. Refinancing 45% of its portfolio, Azure is attracting new lenders while keeping existing ones happy. 

TVS ILP to invest ₹200 crore for new logistics park

TVS Industrial & Logistics Parks (TVS ILP) is putting ₹200 crore in a new 20-acre facility at Pithampur, near Indore. This state-of-the-art logistics park will cater to the growing demand for top-notch warehousing in the region, while also creating over 1,000 jobs. The company says it’s bringing “tech-driven” warehouses to Indore, aiming to improve delivery times and give businesses a logistics boost. 

TOP STORIES

Shiprocket's Revenue Soars by 21% in FY24

What Happened

Shiprocket, the e-commerce enabler platform, has reported a 21% jump in operating revenue for FY24, reaching ₹1,316 crore. This growth was largely driven by the company's strategic acquisitions, which strengthened its core business.

Impressively, Shiprocket turned profitable in the first two quarters of FY24, well ahead of its goal to achieve full profitability by FY25.  The company has also halved its cash burn, slashing it from ₹191 crore in FY23 to ₹100 crore this year. 

Why It Matters

Shiprocket's rapid revenue growth and profitability are significant in a market where many startups struggle to balance expansion with financial health. Acquisitions of Pickrr’s domestic shipping arm, along with Pocketbox, Omuni, Wigzo, and Glaucus, boosted the company’s capabilities without inflating fixed costs.

Their core business—shipping and ancillary services—now makes up 80-85% of their total revenue, but it’s their emerging ventures that are really catching attention, with growth as high as 100%.

The bigger picture

Founded in 2017, Shiprocket now serves over 24,000 pin codes in India and operates in more than 220 countries. With over 1.5 lakh active sellers and an annualised GMV of $3 billion flowing through its platform, Shiprocket is clearly on the rise. 

GLOBAL NAZARA

Boeing’s $6 billion loss amid strikes and shutdowns

Boeing took a major hit in the third quarter, losing $6.27 billion due to a workers' strike that’s been going on for six weeks. With 33,000 workers stopping production, especially of the money-making 737s, revenue came in at $17.84 billion.

CEO Kelly Ortberg, facing tough times since taking over, wants to "reset" the company's relationship with workers. He’s offering a 35% wage hike and bonuses, while also pushing for a culture change—asking managers to spend more time on the factory floor to fix issues. 

Tesla’s profits spark joy: shares soar 10%!

Tesla is cruising into the spotlight with a thrilling 10% jump in shares after it revealed third-quarter earnings that left analysts shocked. The electric vehicle titan reported earnings per share of 72 cents—zooming past the expected 58 cents—while revenue rolled in at $25.18 billion, just shy of the $25.37 billion forecast. With net income revving up to about $2.17 billion, a hefty $739 million boost came from selling regulatory credits.

TOP STORIES

Striking a ₹30,000 Crore Copper Deal

What Happened

Kutch Copper, a subsidiary of Gautam Adani's Adani Enterprises, is currently negotiating with Australian mining giant BHP to secure up to 1.6 million tonnes per annum (mtpa) of copper concentrate. 

This supply deal, valued at approximately ₹30,000 crore annually, aims to fuel Kutch Copper's ambitious greenfield refinery project in Mundra. Once completed, this facility will be the world's largest single-location custom smelter, boasting a capacity of 1 million tonnes per annum (mtpa). 

Why It Matters

India's copper market is crucial, with the country currently relying heavily on imports to meet its needs. 

• In fact, the only domestic producer, Hindustan Copper Limited, contributes only a fraction—about 4.5%—of India's total copper requirements.
  

With per capita copper consumption in India projected to rise from 0.6 kg to 1 kg, the demand for copper will only increase. BHP, which sources copper from multiple countries, is India's largest supplier of copper concentrates. The pricing of this deal will be closely linked to the London Metal Exchange (LME) prices, currently hovering around $9,474 per tonne. As demand rises, this price is expected to climb to over $10,000 per tonne by December 2025.

Zoom out

If Kutch Copper and BHP finalize their deal, it could significantly impact India's copper supply chain, ensuring that domestic needs are met while also bolstering Adani's ambitious projects. As copper becomes the "new gold," it seems that Adani is ready to strike while the iron—or should we say copper—is hot!

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