Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Sensex dropped by 836 points, with Nifty ending at 24,200 as all sectors finished in the red. Investors showed caution ahead of the Federal Open Market Committee’s outcome, leading to sector-wide losses.

TOP STORIES

Wearables Shipment Plunges 30% 

What happened

Wearable shipments took a significant hit in the July-September quarter, dropping by 30% compared to the previous year. Brands slashed their inventories and reduced the number of models on the market. The festive season, usually a time of booming sales, saw low demand despite heavy discounts. Industry leaders like Boat shifted their focus towards audio products, and many brands saw an increase in premium smartwatch sales.

Why?

First-time smartwatch users, unhappy with their initial experience, either skipped the second purchase or splurged on high-end models from Apple or Samsung. This has driven up the average selling price of smartwatches, which jumped from ₹2,500-3,000 last year to ₹4,000. 

The festive season saw a focus on high-end smartwatches, especially those powered by Google Wear OS, which offered attractive financing options. Offline retail also saw a rise in importance, with Titan’s Fast Track being the only brand to see growth in this period.

The future-forecast

While wearables shipments were down 30%, the market’s focus is shifting toward premium products. Brands like Boat and Xiaomi saw success in the premium category, with Xiaomi’s shipments nearly doubling. Boat, for example, now has 20-30% of its sales coming from offline retail. Despite a dip in demand for basic smartwatches, the premium segment has gained momentum, reflecting a change in consumer sentiment.

PAISON KA KHEL

NTPC strengthens power capacity with ₹80,000 crore push

NTPC, India’s largest power producer, is charging ahead with an ₹80,000 crore investment to add 6,400 MW to its thermal capacity. The company’s board approved three major projects: the Telangana Super Thermal Power Project (₹29,344.85 crore), the Gadarwara Super Thermal Power Project (₹20,445.69 crore), and the Nabinagar Super Thermal Power Project (₹29,947.91 crore). 

CRC’s ₹525 crore bet on luxury living

Real estate developer CRC is pulling out all the stops with a ₹525 crore investment in a luxury residential project in Greater Noida. Dubbed “CRC Maesta,” this development will house 358 high-end apartments and is projected to rake in ₹800 crore in revenue. Designed by the renowned Dubai-based architect Shaun Killa, known for iconic marvels like Dubai’s Museum of the Future, this project aims to bring cutting-edge luxury to Noida.

TOP STORIES

Indian Railways Rolls Out 500 Special Trains

What Happened?

Indian Railways has announced over 500 special trains to handle the surge of travellers returning from their hometowns after Chhath Puja, with operations set to begin on November 8. 

• This follows a record-breaking single-day passenger count of 120.72 lakh on November 4, marking the highest number this year. 

The railway network is rolling out more than 7,700 special trains throughout the festival season, reflecting a 73% increase from last year’s 4,429 trains. 

Why It Matters

This strategic move by Indian Railways is aimed at tackling the yearly migration wave caused by festival season travel. The November 4 passenger record—comparable to the combined populations of Australia and New Zealand—reveals the pressure the rail network is under. 

With 19.43 lakh reserved and 101.29 lakh unreserved passengers recorded on that day, plus an impressive suburban commuter count of 180 lakhs, managing this massive flux without disruptions is no small feat. 

Zoom out

IRCTC’s Q2 results show modest growth, with net profits rising 4.47% year-on-year to ₹307.8 crore, supported by strong performances in its catering and internet ticketing segments.

• Revenue from operations climbed 7.2% to ₹1,063.99 crore.
  

• Catering services surged by 11.68% to reach ₹481.95 crore.
  

• Internet ticketing revenue increased 13.36% to ₹370.95 crore. 
  

• Despite these gains, tourism revenue dropped 27.35% to ₹124.44 crore. 
  

Nonetheless, the company delivered positive overall results.

GLOBAL NAZARA

Trump's win sends US stocks to new heights

US stocks hit record highs after Trump's election victory, with the S&P 500 rising 2.5%, its best post-election performance ever. Small-cap stocks led the charge, jumping 5.8%, fueled by Trump's protectionist policies. 

The Dow added a whopping 1,500 points, while the Russell 2000 soared by 5.9%. Banks and Medicare insurers also benefited from expectations of tax cuts and higher government payments. 

Rolls-Royce sticks to profit growth target 

Rolls-Royce has maintained its annual profit growth forecast of at least 30% for this year, citing strong demand from its airline customers, as well as continued growth in power systems for data centres and defence equipment. 

Despite the aerospace supply chain delays, which are expected to cost the company between £150 million and £200 million, Rolls-Royce's performance has remained solid. The company, which reintroduced dividends after the pandemic, has seen a remarkable 487% rise in its share price.

TOP STORIES

Jet Airways Goes into Liquidation After Revival Plan Fails

What Happened

Jet Airways, once India's top airline, is now facing liquidation after a failed attempt at revival. The Supreme Court ordered this drastic step after the Jalan-Kalrock consortium (JKC) failed to implement its bankruptcy resolution plan. JKC had promised to inject funds, clear debts, and restart operations, but months of delays have led to accusations from lenders that the consortium was stalling the process. 

*Liquidation is the process of winding up a company's affairs by selling its assets to pay off debts, after which the company ceases to exist.

Why It Matters

This decision marks the end of a five-year legal battle that began when Jet Airways, founded by Naresh Goyal, suspended operations in April 2019 due to financial turmoil. The airline, which owes over ₹7,500 crore to creditors, had hoped for a comeback under JKC.

However, delays in fulfilling the resolution plan, like missing payments and not securing critical clearances, led to mounting losses of ₹22 crore a month for Jet’s assets. 

Caution!

While JKC argued that lenders were deliberately hindering the airline’s revival to sell Jet's assets as scrap, the court sided with the creditors, pointing out the consortium’s failure to keep its promises. With the liquidation process underway, the saga of Jet Airways' collapse continues to serve as a cautionary tale

MIRCH MASALA

🤑 How a US billionaire juggles a 90-hour workweek and parenting
💕 Watch: Little girl’s adorable cry over dad eating her ice cream
🦁 Take a look at Alia and Ranbir’s jungle safari-themed birthday party
🦇 Is the White House haunted? Unveiling its spooky secrets!
😕 Find the ‘Thala for a reason’ connection in Donald’s US victory