Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Markets ended weak due to profit-taking in Reliance Industries. Globally, equity indices were mixed as investors await key US data on Friday to gauge the Federal Reserve's likely stance on interest rates.

TOP STORIES

EaseMyTrip hits the road with electric buses

What happened?

EaseMyTrip is trading travel bookings for buses! The online travel giant just launched Easy Green Mobility, its shiny new electric bus subsidiary. With a ₹200 crore investment over the next 2-3 years, they're diving headfirst into R&D, product development, and setting up manufacturing plants.

And these buses won’t just sit pretty—they’ll be running through YoloBus, getting you from A to B with zero emissions. Given that India’s electric bus market is expected to zoom ahead with a 24% growth rate by 2030, EaseMyTrip is ready to grab the wheel.

Why it matters

Why should you care about this? For one, the demand for electric buses is expected to skyrocket to around 125,000-150,000 units annually in a decade. That’s a lot of buses! As India pushes its 'Make-In-India' dream and the government rolls out incentives like the FAME scheme and state-level EV policies, companies like Easy Green Mobility are well-positioned to fuel the country’s transition to greener transport. 

Zoom out

With plans to build 4,000-5,000 buses in the initial phase, equipped with advanced tech and long-range battery systems, Easy Green Mobility is aiming to give India a smooth ride into the future. 

PAISON KA KHEL

Jindal Stainless powers Vande Bharat sleeper coaches with style and strength

Jindal Stainless is all set to make your train rides smoother and safer with their high-strength tempered 301LN grade stainless steel. These Vande Bharat sleeper coaches will be 2 tonnes lighter, boosting energy efficiency and reducing carbon footprints. The steel’s corrosion resistance ensures long-term durability, while its crash and fire resistance promises extra passenger safety.

The first batch rolls out in September 2024, with the official launch by December.

Adani aims for ₹40,000 crore in fresh investments

Adani Group is gearing up to charm retail investors with a plan to raise up to ₹40,000 crore over the next 3-4 years, aiming to diversify its funding and hedge against risks. The move follows a successful ₹400 crore public issue of secured non-convertible debentures (NCDs), which were snapped up on the first day. With an annual yield of 9.25-9.90%, these debt instruments are offering sweet returns.

The group is also looking to reduce its reliance on a handful of banks, which currently hold ₹88,100 crore in loans to Adani companies. 

TOP STORIES

Titans Place Their Bets on India’s FMCG Gold Rush

What happened

India’s corporate big shots are shaking up the FMCG sector like a well-mixed smoothie. Reliance Industries is ready to pour up to ₹3,900 crore into its FMCG arm, aiming to steal market share from giants like Hindustan Unilever and ITC.

Not to be outdone, Adani Group is gearing up for a $1 billion spree, snatching up spice and snack brands faster than you can say “Chaat masala!”

Tata Consumer Products is not sitting idle either, planning to splash ₹785 crore for a new plant in Vietnam and eyeing potential acquisitions.

Why it matters

With India’s economy rocketing towards becoming the third-largest global powerhouse by 2028, the FMCG sector is the hottest ticket in town. The retail market is set to blast past $1.4 trillion by 2027, fueled by urbanization, a growing middle class, and a young population with an insatiable appetite for the latest and greatest. The bigwigs are diving into this fast-moving market to catch the wave of rising disposable incomes and changing consumer tastes.

The numbers game

As of 2023, India boasted about 40 million affluent individuals—think of it as the country’s own VIP club, representing 4% of those over 15 with annual incomes over $10,000. But wait, the party’s just getting started! By 2028, this VIP list is expected to swell to a whopping 88 million.

Indian household spending is set to outshine its peers in Asia. From 2011-12 to 2022-23, the average Monthly Per Capita Consumption Expenditure (MPCE) has rocketed from Rs 1,430 in rural areas to Rs 3,773. Urban areas aren’t lagging either, jumping from Rs 2,630 to Rs 6,459.

GLOBAL NAZARA

Amazon sets sight on $5 billion in sales from Indian exporters

Amazon is giving China a break and betting big on India! The e-commerce giant aims to hit $5 billion in exports from Indian small businesses in 2024, up from $3 billion last year. Thanks to its Global Selling program, launched in 2015, around 1.5 lakh Indian exporters will sell their goods globally, from textiles to Ayurveda products. By year-end, Amazon expects Indian exports through its platform to hit $13 billion.

US pension giants eye big returns in India

US pension funds, with a whopping $1.8 trillion in assets, are on a treasure hunt in India. Led by US Consul General Mike Hankey, the delegation is exploring healthcare, clean energy, and other sectors for investment. Currently holding $50 billion in Indian assets, these funds are keen to boost that number, with the US Development Finance Corporation already pledging $4 billion more.

With high returns for American retirees on their radar, they’re eyeing sectors like infrastructure and renewable energy. 

TOP STORIES

Tower-Adani's $10 Billion Bet on Semiconductors

What happened?

Maharashtra just hit the jackpot! The state’s cabinet has given the nod to a whopping $10 billion (₹83,947 crore) investment by Tower Semiconductor and the Adani Group to set up a shiny new semiconductor manufacturing unit in Taloja, Panvel.

Phase one will see the plant churn out 40,000 wafer starts per month (WSPM)— and later, it’ll expand to 80,000 WSPM. The initial investment is ₹58,763 crore, with another ₹25,184 crore riding in later. 

Why it matters?

If this project gets the all-important thumbs-up from the India Semiconductor Mission (ISM), it’ll be the second chip manufacturing facility in the country, rubbing shoulders with Tata Group’s fab in Gujarat. 

Chips, in case you didn’t know, are the unsung heroes powering everything from smartphones to cars. With global chip shortages messing up supply chains, India getting in on the action means fewer shortages and more self-reliance. 

The bigger picture

Oh, and earlier this week, the government approved a ₹3,307 crore chip-testing unit in Gujarat—so the semiconductor wave is just getting bigger!

While Maharashtra is ready to roll, the project is still waiting on a green light from the ISM for central incentives. If it comes through, India’s semiconductor game will level up dramatically. 

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