Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Markets traded within a narrow range and ended flat, pausing after the recent rebound. While IT and FMCG sectors saw gains, auto, pharma, and energy ended in the red, with smallcaps rising nearly 1%.

TOP STORIES

Nokia’s HMD Calls India Its New Home

What Happened

HMD Global, the maker of Nokia phones, is shifting its focus to India. The company is shifting a big chunk of its manufacturing from China to India, including key operations like supply chain sourcing and logistics. HMD already exports phones from India to West Asia and Africa, but now it’s setting its sights on the US and Europe. 

CEO Ravi Kunwar says this move is all about making India a global hub for Nokia phones. And guess what? HMD is nudging its suppliers to set up shop in India too.  

Driving the news

The US-China trade tensions have made companies look for new production bases, and India is cashing in. The government is also sweetening the deal with a ₹40,000 crore scheme for electronics component manufacturing. 

HMD’s shift is a feather in India’s cap as it chases the dream of becoming a global electronics hub. Plus, HMD’s new focus on mid-range phones like the Fusion (with cool gaming and camera add-ons) means better choices for Indian consumers.  

The impact

HMD’s shift to India is a win for both sides. India secures a larger share of the global tech market, while HMD benefits from a more cost-effective and reliable production base. With its license to produce Nokia phones valid until 2026, HMD is gearing up to make a bigger impact on Indian and global markets.

PAISON KA KHEL

Ekart expands big but feels the pinch

Ekart, Flipkart's logistics arm, has multiplied its supply chain monetization eightfold in three years, now handling over six million shipments daily across 98% of India. It has ventured into document delivery for financial institutions, offering a one-stop supply chain solution with services like last-mile delivery and truckload movements. 

However, rapid growth brought challenges—FY24 losses soared to ₹1,718.4 crore, up from ₹324.6 crore in FY23, as expenses hit ₹14,149.4 crore. 

Arunachal's big power boost with two hydro projects

The Cabinet has approved two hydro projects in Arunachal Pradesh, worth ₹3,689 crore. The 186 MW Tato-I and 240 MW Heo projects will improve the local power supply and help balance the national grid. 

These projects, a joint effort between NEEPCO and the Arunachal government, will also bring infrastructure improvements like schools and hospitals. The state will enjoy benefits like free power and development funds, making Arunachal a stronger player in India's energy future.

TOP STORIES

A Lifeline for Vodafone Idea’s Revival

What happened?

The Union Cabinet has decided to waive bank guarantees for spectrum bought by telecom companies before 2022. This means Vodafone Idea, which was struggling with ₹24,700 crore in guarantees, can now breathe easier. The waiver comes with a small asterisk, though—if the waived guarantee is less than the spectrum’s value, the telcos will have to make up the difference. This move is part of broader reforms aimed at supporting the telecom sector.  

Why it matters

Vodafone Idea has been weighed down by ₹2.1 trillion in dues, making it tough to upgrade its networks. With this waiver, the company can now focus on raising ₹35,000 crore to fuel its ₹50,000-₹55,000 crore network expansion plan over the next three years. Imagine 5G towers rising in New Delhi and Mumbai, bringing faster internet and less buffering for users.

Investors seem happy too—Vodafone Idea’s stock soared 16% after the announcement. Even Bharti Airtel, which had ₹30,000 crore tied up in guarantees, is expected to benefit, proving that sometimes, telecom giants do share the same struggles.

Final words

Companies like Vodafone Idea can finally redirect their funds toward better connectivity and faster 5G rollouts instead of locking them in guarantees. The Cellular Operators Association of India called the move a “game-changer,” and rightly so—freeing up cash flow is like giving the sector a caffeine shot. 

However, while this relief is great, Vodafone Idea still has a long way to go. The question remains: will this be enough for the telco to shed its financial baggage and sprint ahead in the 5G race? Or will it remain the underdog, waiting for another waiver?  

GLOBAL NAZARA

French Brandy clashes with EVs

France’s luxury booze makers, including LVMH, are caught in a quirky spat between the EU and China. After the EU slapped hefty tariffs (up to 45.3%) on Chinese electric vehicles, China retaliated by targeting French brandy. With up to 39% deposits on brandy imports, French brands like Moët Hennessy and Remy Cointreau are feeling the squeeze—stocks even fell 4%

• China, the second-biggest buyer of French brandy, had imported $1.7 billion worth last year. 

Citigroup tightens the belt on promotions

Citigroup is hitting the brakes on promotions as part of a major overhaul. Only 2,000 employees will get year-end pay hikes this time, a steep drop from the usual 8,000. And don’t get too excited—those promotions come with a modest 15% salary bump.

CEO Jane Fraser’s grand plan to simplify the bank and cut costs includes reducing the workforce by 20,000 over the next two years.

TOP STORIES

Vedanta Bets Big on Saudi Arabia 

What happened?

Saudi Arabia is making big moves to mine its way out of oil dependence, and Vedanta is stepping in with a hefty $2 billion investment. The Indian conglomerate plans to build a copper smelter and refinery at Ras Al-Khair with a combined capacity of 400,000 metric tons annually. That’s enough copper to wire every new home in the kingdom and still have some left for souvenirs. The project will also include a 300,000 tpa copper rod plant.

Why it matters?

Announced at the World Investment Conference in Riyadh, this is one of nine deals worth $9.32 billion in metals and mining that Saudi Arabia has secured to drive its Vision 2030 plan.

The kingdom aims to attract $100 billion in foreign investment annually by 2030, and these deals are a solid step toward that goal. Besides Vedanta, China's Zijin Group is investing up to 6 billion riyals to build a zinc smelter and a lithium carbonate facility. 

Conclusion

If that wasn’t enough, Australia’s Hastings Technology Metals is putting up to 7.2 billion riyals into rare earth processing, while Platinum Group Metals plans a 1.9 billion riyal platinum smelter.  

For Vedanta, this is a chance to strengthen its global footprint. For Saudi Arabia, it’s another step toward swapping its "oil baron" title for "mining mogul." 

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