Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Nifty closed at 24,708, up 241 points, while Sensex rose 810 points to 81,765. Most sectors ended in the green, with IT, banking, and auto stocks leading gains. PSU banks and realty were exceptions. The market is focused on the upcoming RBI policy decision, impacting future trends.

TOP STORIES

Urban Wages and Government Spending Under Scrutiny

What happened

India’s GDP growth for the July-September quarter slowed to 5.4%, far below the expected 6.5%. This marks a concerning dip, considering the country’s economic trajectory in the past few years. Contributing factors include reduced government spending and falling urban wages. Publicly traded companies, especially in India’s metros, reported a contraction in salaries, which typically signals deeper economic distress.

Why It Matters

India’s metros, once the life of the economic party, seem to be taking a nap. Urban middle-class spending has been the rocket fuel of our growth story for decades, and now, it’s sputtering. Consumer goods companies have already noted a dip in demand, while the overall economic model that has heavily relied on capital expenditure might be in trouble. Without a quick fix, this could lead to a cycle of lower growth and further cuts in government spending. The political implications could be significant, as the urban electorate may start questioning the effectiveness of current economic policies.

Zooming Out

India's economy faces a tough challenge. If the urban middle class continues to feel the pinch, the government may be forced to shift its focus toward welfare over growth-driven policies. This could set off a chain reaction, where reduced growth leads to more demands for welfare, which in turn further stifles economic development. With two vicious circles at play, India’s leadership must act fast to restore growth momentum before the situation spirals.

PAISON KA KHEL

India’s debt gains weight, reaching $647 billion in 2023

India’s external debt climbed by $31 billion, reaching $646.79 billion in 2023, says the World Bank’s International Debt Report. While long-term debt bulked up by 7% to hit $498 billion, short-term debt went on a diet, trimming down to $126.32 billion. Interest payments weren’t shy either, jumping from $15.08 billion in 2022 to a hefty $22.54 billion in 2023. The country’s external debt is now 80% of its exports, with 10% of exports servicing the debt. Meanwhile, net debt inflows stood at $33.42 billion, but equity inflows strutted higher at $46.94 billion. Debt isn’t slimming down, but hey, neither is growth!

ONGC and NTPC Power Up with $750 Million Ayana Deal

ONGC NTPC Green Pvt Ltd (ONGPL) is all set to buy Ayana Renewable Power for a hefty $750 million. The deal gives Ayana a value of $1.8 billion, along with 4.6 GW of renewable energy assets. This move gives ONGC a boost in its green energy plans and helps NTPC Green grow even bigger. Ayana's current investors—NIIF, BII, and EverSource—are cashing out nicely.

Ayana’s been around since 2017, making ₹856 crore in revenue and ₹46 crore in profit last year.

TOP STORIES

Bitcoin blasts past $100K as Trump picks pro-crypto SEC Chair

What happened

Bitcoin just made history! On Thursday, it crossed the $100,000 mark for the first time ever, setting a new record. This comes hot on the heels of Donald Trump announcing Paul Atkins, a known crypto advocate, as his pick for the next SEC Chair. Investors celebrated the news, pushing Bitcoin up 2.8% on Wednesday, and the rally continued into Thursday. Currently trading above $103,000, Bitcoin is on a roll, with analysts eyeing a potential next stop at $113,000.

So, why is everyone buzzing? 

For starters, Trump’s about-face on crypto has been a game-changer. After years of skepticism, his campaign embraced crypto, even pitching Bitcoin as a strategic reserve. And Atkins? He’s seen as the guy who could loosen the regulatory noose that tightened during Gensler’s tenure. Meanwhile, the technicals are playing along, with a Fibonacci extension signalling a possible jump to $113K. But before you go all in, a word of caution: Bitcoin’s RSI is tipping into overbought territory, suggesting a pullback might be lurking around the corner.

Zoom out

This milestone isn't just about Bitcoin’s price. It’s a sign of changing attitudes toward digital assets, driven by political and regulatory shifts. While the U.S. market basks in optimism, India remains cautious with high taxes and regulatory hesitations. Bernstein recently noted Bitcoin could be India's digital gold alternative in a fragile geopolitical landscape. Whether this rally sustains or corrects, one thing’s clear: Bitcoin is rewriting the rulebook for the future of finance. Time to grab some popcorn—and maybe a crypto wallet?

GLOBAL NAZARA

Vodafone’s Indus Exit:  ₹2,800 Crore and Counting

Vodafone PLC has officially waved goodbye to Indus Towers, selling its final 3% stake for a cool ₹2,800 crore in a block deal. The proceeds will first tackle Vodafone's $101 million debt, with leftovers earmarked for a potential equity raise in Vodafone Idea (Vi)—if the board says yes, of course. Post-sale, Indus shares jumped 5%, while Vi shares tripped 2%.

Fun fact: This isn’t Vodafone’s first rodeo. Back in June, it sold an 18% stake in Indus, netting ₹15,300 crore to ease €1.8 billion in loans. Seems like Vodafone’s motto is "Sell, repay, repeat!"

Pakistan’s debt spiral

Pakistan’s debt saga deepens with China now its top creditor, holding 22% of the external debt at $28.8 billion. World Bank ($23.55 billion) and Asian Development Bank ($19.63 billion) follow closely. Alarmingly, 43% of Pakistan’s export revenue goes toward interest payments—a global high.

With $130.85 billion in total external debt, or 352% of exports, Pakistan’s finances resemble a sinking ship. Chinese-funded power plants under the China-Pakistan Economic Corridor (CPEC) guarantee up to 34% returns, pushing debt further. Critics warn Pakistan risks becoming a “supplicant” in bilateral ties.

TOP STORIES

PMI Electro to Bring 250 Electric Buses to Mumbai

What Happened

PMI Electro Mobility Solutions is all set to deliver 250 electric buses to Mumbai’s BEST (Brihan Mumbai Electric Supply & Transport Undertaking) by the end of FY26. These air-conditioned buses will be rolled out in batches, and here’s the twist: PMI Electro will own the buses while BEST will handle ticket sales and operations. This deal marks PMI Electro’s second e-bus project in Maharashtra after Nagpur, where it already runs 144 electric buses.

Driving the news

This move is a big win for greener public transport in Mumbai. It also fits perfectly with the Indian government's push to electrify buses under the PM E-Drive scheme. With a massive ₹10,900 crore budget, the scheme has set aside ₹4,391 crore to help buy over 14,000 electric buses by FY26. Transport agencies like BEST can get up to ₹30 lakh in subsidies for each bus, making it easier for them to switch to electric. Plus, the new payment security plan ensures that bus makers like PMI Electro get paid on time, giving them the confidence to keep rolling out more green buses.

What the future holds

With 250 electric buses soon hitting Mumbai’s streets, this deal is a step closer to cleaner air and greener transport. PMI Electro is on fire, already having sold 1,700 e-buses across India. So, get ready, Mumbai—your electric future is speeding your way!

MIRCH MASALA

🤱Say hello to Kavya Mehra, India’s first AI-powered mom influencer

🧑‍🦽MBA Chaiwala’s inspiring act of helping a disabled man

😱 Mirchi ka halwa takes the spotlight at a wedding! 

🐱Cat squeezes through drainpipe, but the results aren’t quite purrfect!

🦕Fossilized dinos' poop and puke give scientists a peek into their rise!