Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: On the last expiry day of the year, the domestic market stayed flat amid holidays and a lack of major triggers. Auto stocks rose but worries about FII outflows, a weaker rupee, and potential tariffs kept the market subdued.

TOP STORIES

Insurance Industry Takes a Backseat

What Happened

India’s insurance penetration has been on a diet—it shrank to 3.7% in FY24, down from 4% in FY23, and nowhere near its pandemic-era peak of 4.2%. The IRDAI annual report revealed life insurance penetration stumbled to 2.8%, while non-life refused to budge, staying at 1%. Meanwhile, the global average strutted to 7%, leaving India trailing like a kid in flip-flops at a marathon.

Life insurance premiums grew to ₹8.3 lakh crore (up 6.1%), largely thanks to private insurers, who ran ahead with a 15.1% growth, leaving public sector insurers crawling at 0.2%. 

Why It Matters

Imagine that you need to go out in the rain, but you have a good umbrella with you. That’s exactly why penetration stats matter—how ready a country is for life’s rains. Sadly, India’s numbers are slipping, while the world’s umbrella game is strong.

• Life insurers shelled out ₹5.8 lakh crore in benefits, with surrenders shooting up 15.3% to ₹2.3 lakh crore (some folks changed their minds about those rainy-day funds).
  

Meanwhile, non-life insurers handled a whopping ₹83,493 crore in health claims alone. The claims ratio hit 82.52%, meaning for every ₹100 collected, insurers paid out ₹82.52—tough luck for profits!

Final words

India’s insurance scene is like a Bollywood plot twist—big numbers, dramatic dips, and a hero (the non-life sector) stealing the show. But let’s face it, 3.7% penetration in a country of 1.4 billion is like covering a football field with a handkerchief—it’s just not enough.

The industry needs to jazz things up with better products, less red tape, and a dash of trust. Meanwhile, for common folks, skipping insurance is like skipping sunscreen—you might not feel the burn now, but future-you will regret it.

PAISON KA KHEL

Acme solar hits green jackpot with massive PFC loan

Acme Solar Holdings has secured a hefty ₹1,988 crore from Power Finance Corporation. The cash will charge up a 300 MW hybrid solar-wind project spread across sunny Bikaner in Rajasthan and breezy Bhuj in Gujarat. A power purchase agreement with NTPC is already locked and loaded. The solar land is in the bag, and grid connectivity is good to go.

Ola strikes gold with 3,200 stores and S1 Pro Sona

Bhavish Aggarwal's Ola Electric had a jingle-bell moment on December 25, unveiling a whopping 3,200 new stores across India and a sparkly S1 Pro Sona Edition scooter.  

The CEO’s festive cheer spilt onto platform X, boasting over 1 lakh attendees celebrating the store openings. With Ola’s outlets jumping from 800 to 4,000 this month, the EV revolution is at full throttle! 

TOP STORIES

BPCL and CIL Plan ₹12,000 Crore Coal Venture

What Happened

Bharat Petroleum Corporation (BPCL) and Coal India Limited (CIL) are cooking up a ₹12,000 crore coal gasification project in Chandrapur, Maharashtra. With CIL holding a 51% stake and BPCL owning 49%, this power duo plans to split the investment with a debt-to-equity ratio of either 70:30 or 65:35. 

The goal? To produce a jaw-dropping 1.83 million metric standard cubic meters per day (MMSCMD) of synthetic natural gas (SNG).  

Why It Matters

This project is like giving coal a personality makeover—from smoky villain to clean energy hero. Coal gasification transforms coal into SNG, a cleaner fuel that could even produce hydrogen for futuristic uses like powering cars and industries. 

For BPCL, it’s a leap toward a greener portfolio, while for CIL—India’s coal king—it’s about proving coal can still shine in an eco-conscious world. Thanks to ₹8,500 crore in government incentives, this project is looking more like a reality and less like a pipe dream.

Conclusion

This ambitious plan is part of India’s National Coal Gasification Mission, which targets 100 million tonnes of coal gasification by 2030. While the project is still on the drawing board, BPCL and CIL seem ready to mine cleaner energy from their coal reserves—literally.

If executed well, this plan could redefine how India uses coal, making it less of a smoky past and more of a sparkling future. For now, Chandrapur is gearing up to be the birthplace of India’s new-age coal story.  

GLOBAL NAZARA

China leads global EV growth

China is the electric vehicle (EV) king of 2024, accounting for a jaw-dropping 80% of global sales growth. EVs in the country shot up from 3 million to over 4 million in just six months, while the entire world hit 7 million sales—marking a 25% increase. 

Other countries like Brazil, the UK, and Indonesia are catching on, but China’s still racing ahead. Here’s the kicker: plug-in hybrids (PHEVs) are now the cool kids, with PHEV sales in China surging by 70%. 

Xerox snaps up Lexmark for $1.5 billion

Xerox is printing a big move by agreeing to buy printer maker Lexmark from Asian investors in a $1.5 billion deal. The transaction includes assuming Lexmark’s debt, with Xerox planning to cut its annual dividend to 50 cents per share to help fund the acquisition. Set to close in late 2025, the deal aims to boost Xerox’s presence in Asia and Latin America while saving more than $200 million annually through cost-cutting measures. 

TOP STORIES

Housing Prices Soar 30% Despite Declining Sales

What Happened

In 2024, India's top seven cities experienced a massive 30% jump in housing prices. Delhi-NCR led the charge, with prices skyrocketing like they were on a rollercoaster. According to Anarock data, the average residential price shot up from ₹7,080 per square foot in Q4 2023 to ₹8,590 per square foot in Q4 2024.

New project launches also slowed down by 7%, contributing to an 8% decline in available inventory across these cities.

Driving the news

The growth in housing prices is primarily attributed to strong demand, particularly for luxury homes. The increase in prices and unit sizes led to a 16% rise in the total sales value, which grew from ₹4.88 lakh crore in 2023 to ₹5.68 lakh crore in 2024. 

However, the housing market’s overall momentum was dampened by several factors, including the impact of the general and state elections and slower project approvals, which affected the new housing supply. While sales volume fell, the value of transactions saw a significant rise due to higher prices and larger homes. 

• Luxury housing, in particular, saw a sharp uptick, with a 24% increase in new supply in 2024 compared to 2023.
  

Zoom out

2024 has been an unpredictable year for India’s real estate market: a price surge amid declining sales, but luxury homes are thriving, proving that high demand can sometimes work in mysterious ways. While the market may feel like a rollercoaster, there's hope for a smoother ride ahead. 

With 2025 on the horizon, housing prices are expected to stabilise, giving potential homebuyers a chance to catch their breath. 

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