Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The market played hard to get today—Nifty slipped 93 points, and Sensex took a 213-point dip after some high-level profit booking. While Pharma stocks got a little love, Real Estate and Capital Markets lost over 2%. 

TOP STORIES

Swiggy’s Loss Grows, But Revenue’s Gaining Weight 

What Happened

Swiggy’s latest quarterly results are a bit like a biryani—there’s some good stuff, but it’s a little heavy on the losses.

The company’s net loss ballooned by 39%, reaching ₹799 crore, compared to ₹574 crore last year.

But hey, on the flip side, its revenue grew by 31%, hitting ₹3,993 crore! 

The core food delivery business saw a tasty 23% growth year-on-year, while it only grew 3.7% from the previous quarter.  

Why It Matters

So, why is Swiggy juggling so many balls (or rather, dark stores)?

Well, while its food delivery service is still growing at a decent clip, the expansion of Swiggy Instamart is costing the company dearly. 

Adding dark stores is like adding extra toppings to your pizza—looks good, but it adds to the bill!

With 96 dark stores popping up in Q3 and another 86 in January 2025, Swiggy’s Instamart GOV grew by a jaw-dropping 88%. 

Conclusion

Swiggy is in the middle of a growth spurt, but it’s not all smooth sailing. While the numbers look great, the losses are still there.

With Blinkit nibbling at its heels and expanding its network faster, Swiggy needs to figure out how to turn its growth into profit—before it ends up as just another delivery boy in the race!

• Swiggy’s 705 dark stores fall short of Blinkit’s 1,007, and in terms of revenue, Blinkit is ahead with ₹1,399 crore, while Swiggy’s Instamart only brought in ₹577 crore. 

PAISON KA KHEL

Cashfree Levels Up with $53M

Cashfree bagged a sweet $53 million, led by South Korea’s gaming giant Krafton.

That bumps its valuation to a cool $700 million—because apparently, money does grow on fintech trees.

CEO Akash Sinha has big plans: better customer experience, smoother merchant transactions, and a beefed-up payments system. 

Cashfree is gearing up for a global takeover, starting with the Middle East.

With UAE-based Telr in its corner, Cashfree is eyeing Saudi, Egypt, and Kuwait, where digital payments are booming.

A $155 Million Game of Hide and Seek

Looks like Kia’s Carnival minivan is causing more than just traffic jams in India!

The dispute, similar to Volkswagen’s, alleges Kia imported parts in separate shipments to lower taxes. 

The tax department claims this was a deliberate move to evade duties, potentially leading to penalties of up to $310 million.

But don’t worry, Kia’s sticking to its story, saying they’ve played by the rules.

TOP STORIES

India’s Petrol Is Getting a Buzz 

What Happened

India’s oil companies are going on a shopping spree—this time, not for crude oil but for ethanol.

They plan to buy 9.73 billion litres this year, a 40% jump from last year, all to meet the government’s ambitious goal of blending 20% ethanol into petrol by 2025.

Why it matters

Right now, India’s fuel mix is 14.6% ethanol, and with this boost, we’re on track for 20% by 2025.

Interestingly, 60% of it now comes from grains, up from 27% two years ago.

That means your fuel might have a bit of extra rice or maize in it—just don’t expect your car to start smelling like biryani.

For a country that imports 85% of its crude oil, replacing some of it with homegrown ethanol is like swapping an expensive takeout meal for a home-cooked dish—cheaper and better for the economy. 

More ethanol means less reliance on foreign oil, better income for farmers, and a greener fuel.

There’s more

To keep things rolling, the government is offering sweet deals—literally.

Ethanol from maize now sells at ₹71.86 per litre, the priciest of the lot, while surplus rice ethanol goes for ₹58.50 per litre. 

And yes, even sugarcane juice is getting in on the action at ₹65.61 per litre. Who knew petrol could have so many flavours?

GLOBAL NAZARA

Google Drops Diversity Hiring Targets

Google, once a champion of diversity hiring, has scrapped its goals for recruiting underrepresented groups.

This decision follows an annual policy review and aligns with growing pressure on US firms to roll back DEI (Diversity, Equity, and Inclusion) initiatives. 

Between 2021 and 2024, Google publicly committed to boosting leadership diversity by 30%, and the numbers reflected progress—Black leadership nearly doubled, with more women and Latino leaders in key roles.

However, with legal and political pressures mounting, major corporations like Meta, Amazon, McDonald’s, and Walmart have also scaled back DEI initiatives.  

UK Eases Rules to Spark Nuclear Comeback

The UK government is hitting the fast-forward button on nuclear energy, making it easier to build small modular reactors (SMRs) in England and Wales.

Why? Because Britain’s nuclear energy output has dropped from 25% in the 1990s to just 15% today, and old reactors are retiring faster than ever.

SMRs are cheaper and smaller than traditional plants, but here’s the catch—none are commercially proven yet.

Still, the government is scrapping outdated rules to speed up development, hoping to cut the 20-year wait time. 

TOP STORIES

Get Ready for a Snack Attack

What happened

Lotte’s bringing a big bite to India with a $300 million snack-tastic investment!

The South Korean giant, known for its ice cream (Havmor, anyone?) and Choco Pies, is now diving into India’s snack market. 

They’re starting with Pepero—the crunchy, chocolate-coated biscuit stick that’s Korea’s favourite snack.

Pepero will hit Indian shelves in July 2025, made in Lotte’s brand-new Haryana plant—marking the first time it’s produced outside Korea. 

Why It Matters

India’s snack market is already bursting with flavours, but Lotte is bringing some extra zing to the table.

With the K-pop wave still going strong and K-food gaining fans, Lotte’s timing couldn’t be better. 

Their growth plans also include exporting Havmor ice cream to neighbouring regions like the Middle East and Africa.

• They have already invested ₹500 crores in a Pune facility that churns out 50 million litres of Havmor ice cream a year.

Zoom out

With India’s ice cream market still in its early stages compared to countries like China, the potential for growth is huge.

According to Lotte’s CEO Paul Yi, Havmor already has a solid foothold, with around $200 million in revenues and a 5% market share. But they’re aiming for bigger scoops!

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