Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The stock market experienced a wild ride, with the Nifty50 index losing the crucial 25,000 mark after a strong start, as selling pressure hit the Mid and small-cap segments. Factors like high valuations and foreign fund outflows have led investors to pull back from Indian stocks

TOP STORIES

Kalyan Jewellers Shines with 37% Revenue Boost

What happened?

Kalyan Jewellers is sparkling with growth in the September quarter (Q2FY25), boasting a 37% revenue increase year-on-year, thanks to surging gold demand. 

• For its India operations alone, the Kerala-based jeweller saw revenues climb by 39%, with same-store sales up by nearly 23%. 
  
  

This impressive growth came despite the typically quiet sales period during the 14 days of shradh, helped along by a reduction in customs duty on gold imports and an uptick in customer footfalls from late July through August. 

The Trend

Kalyan Jewellers’ growth highlights a few key trends. First, the reduction in customs duty on gold imports played a big role in boosting demand, making gold more affordable and attracting buyers. This, combined with strategic store expansions—26 new showrooms opened in Q2—has helped the company thrive even in a volatile market.

Kalyan's international business, especially in West Asia, contributed around 13% to overall revenues, while its digital-first platform, Candere, enjoyed a 30% revenue jump compared to last year.

Meanwhile, rival Titan’s 25% revenue growth signals strong competition in the sector, but Kalyan’s performance, especially with plans to open 130 showrooms in FY25, indicates they’re up for the challenge.

Zoom out

Kalyan Jewellers is riding the wave of robust gold demand, strategic expansion and smart use of government policy changes. With a focus on both physical and digital growth, the jeweller is well-positioned for the festive season and beyond. Their continued expansion into new markets, including the upcoming launch of their first U.S. store by Diwali, suggests they’re serious about global growth. 

PAISON KA KHEL

Axis Bank taps into $500M blue finance 

Axis Bank is diving into the blue with a $500 million climate loan from the International Finance Corporation (IFC). This marks IFC’s first blue investment in India, backing eco-friendly projects like wastewater management, green buildings and even reducing marine plastic—because who doesn’t want cleaner oceans? 

India's water treatment market is expected to hit $3 billion by 2029 and green buildings are forecasted to bring in $1.4 trillion by 2030, the future is looking both green and blue!

*A green building is a structure that is designed, built and operated to reduce its environmental impact. 

Hitachi supercharges India’s clean energy future with ₹2,000 crore

Hitachi Energy is plugging ₹2,000 crore into making India’s power supply greener over the next few years. The plan is to boost the country’s shift to green energy and roll out eco-friendly tech, including charging stations for public transport. With India’s power demand soaring—expected to hit 366.4GW by 2031-32—Hitachi's upgrades come just in time. The company will also launch smart mobility solutions to speed up the use of electric buses. 

TOP STORIES

Unused Salt Lands Open for Development

What happened

The central government has decided to unlock 60,000 acres of unused salt lands for exciting new projects! These lands found all across India, are now up for grabs for everything from affordable housing to renewable energy initiatives. 

Under the new rules, these lands can be leased for 99 years—but here’s the catch: only government departments and public sector enterprises can get their hands on them. Private companies will have limited access, mainly to land tied up in legal issues. To sweeten the deal, the cost of leasing has dropped significantly—by up to 90%!

Why It Matters

This move could be a total game-changer, especially in tackling India’s housing crisis. With many people living in slums, the option for state governments to sub-lease these lands to developers opens the door to much-needed affordable housing. 

But it doesn’t stop there! The government is also aiming for some green goals, allowing these lands to be used for biodiversity projects and renewable energy. Imagine transforming barren salt pans into vibrant communities and eco-friendly spaces. The cost incentives are hard to resist; lands designated for housing and slum redevelopment will be available at just 25% of their market value—now that's a true bargain!

Final words

This bold step from the government shows a commitment to building a brighter future for all. With nearly 59,793 acres of salt lands waiting to be developed, the potential is massive. These lands are mainly located in key coastal states like Tamil Nadu, Andhra Pradesh and Rajasthan, with a notable chunk in bustling Mumbai. If done right, we could soon witness vibrant neighbourhoods blossoming where once there were just salt flats.

GLOBAL NAZARA

China’s stimulus sparks hope for Indian steel industry

China has rolled out a stimulus package aimed at boosting its struggling real estate sector and the Indian steel industry is cheering from the sidelines. This move is expected to significantly reduce the flow of Chinese steel into India, a welcome relief for local producers grappling with depressed prices.

As China ramps up its domestic demand, hot rolled coil (HRC) prices in India are anticipated to align with import prices. This is a breath of fresh air for Indian steel companies, especially since HRC prices have plummeted by 39% since their peak in April 2022. According to industry experts, this uptick in China's construction sector could stabilise steel prices, which have recently been subject to dumping.

MX Player teams up with Amazon miniTV for a bigger streaming buffet

Amazon is shaking up its streaming game by merging MX Player with its ad-supported platform, miniTV, creating Amazon MX Player. The move is aimed at improving Amazon's advertiser video-on-demand business. MX Player, originally acquired by Times Internet for ₹1,000 crore in 2018, had struggled financially, but now finds new life in Amazon's ecosystem.

This merger is set to bring more shows, deeper viewer engagement and, of course, a flood of ads. But, don’t worry, it’ll stay free—just with more shows and a few extra “commercial breaks”!

TOP STORIES

Reliance Retail Races into Quick Commerce

What happened?

Reliance Retail is shaking things up in the quick commerce market, stepping into the ring to take on Blinkit, Swiggy Instamart and BigBasket. The retail giant has launched its rapid delivery service via JioMart in Navi Mumbai and Bengaluru, promising to deliver groceries in just 10-30 minutes. 

The service will be powered by Grab, Reliance's logistics arm and its extensive store network. But what sets them apart is their promise to charge no delivery, platform, or surge fees. 

Why it matters?

Reliance’s entry into the quick commerce market is a game-changer. It already dominates Indian retail and now, by focusing on ultra-fast deliveries without extra charges, it’s ready to rattle its rivals. Unlike Blinkit and Swiggy, who mainly serve larger cities, Reliance is eyeing smaller towns where competition is low. 

With a delivery range of 3 km from each store and plans to offer up to 12,000 different products, the scale of their operation is massive. And let’s not forget, they’re doing this without charging delivery fees—Blinkit and Swiggy might feel the heat.

Final words

Reliance Retail is set to redefine quick commerce by skipping the usual warehouse model and relying entirely on its extensive store inventory, which includes groceries, electronics and fashion items. For fast-moving consumer goods (FMCG) companies, this couldn't come at a better time, as quick commerce is now the fastest-growing channel, contributing 30-35% of total online sales. 

• With plans to scale rapidly across 1,150 cities and 5,000 pin codes by the end of the month, Reliance is positioning itself to dominate this space. 

MIRCH MASALA

😵 What on earth is this ‘Har ghar Land Rover’ scheme?
🏆️ Controversial bonus system rewards students for holding their pee 
🕺 Do not miss this ‘UPSC guy’ doing a flawless garba
🚉 This lovely Indian train has been treating passengers with FREE meals for 20 years
💗 Pakistani actress's viral dance to Arijit Singh's 'Chaleya' wins hearts online