Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The Nifty tested 24,400 but closed higher than its lowest point of the day, with broader markets facing selling pressure and an NSE advance-decline ratio of 2:3. FMCG was the biggest loser, while banks and pharma sectors gained; key Nifty gainers included UltraTech and Titan, while HUL and Nestle India were among the biggest losers.

TOP STORIES

United Breweries to Launch Premium Beer in India

What happened?

United Breweries is set to introduce Amstel Grande, a premium Dutch beer, to the Indian market. This iconic beer, crafted in Amsterdam since 1870, will make its debut at a time when India's thirst for premium beers is growing rapidly. In fact, demand in the premium segment jumped by 27% in the second quarter of FY2025.

Why it matters

With India’s premium beer consumption seeing a 35% rise in the first half of FY2025, it’s clear that consumers are ready to splurge on better brews. United Breweries, backed by its promoter Heineken NV, is eyeing this surge.

Heineken’s own premium beer volumes grew by 4.5%, powered by Kingfisher Ultra and Heineken Silver in India. 

Zoom out

As disposable incomes rise and the taste for premium beer sharpens, United Breweries is tapping into a hot market with Amstel Grande. What’s interesting is that while countries like Vietnam and Cambodia may have dropped the ball on beer sales, India is stepping up to the plate—proving that when it comes to cold brews, Indians are increasingly going premium.

PAISON KA KHEL

Adani Wilmar to hike cooking oil prices by 20% 

Adani Wilmar is set to raise cooking oil prices by 20% this quarter, thanks to the government's recent hike in import duties. The basic customs duty on crude soybean, palm and sunflower oils jumped from 0% to 20%, resulting in an effective rate of 27.5%. Meanwhile, refined oils didn’t escape the heat either, with duties rising to 32.5%.

Mankind Pharma completes ₹13,768 crore acquisition

Mankind Pharma has officially acquired Bharat Serums and Vaccines (BSV) for ₹13,768 crore, marking a major leap into the women's health and fertility drug market. The deal also gives Mankind access to complex R&D platforms and high-entry barrier products in critical care. 

BSV, known for its strong R&D capabilities, brings specialized biologics and branded treatments to the table. Welcoming over 2,500 BSV employees, Mankind's Vice Chairman Rajeev Juneja sees this as a catalyst for growth.

TOP STORIES

500 New E-Buses on the Way from Ashok Leyland

What happened

Ashok Leyland's subsidiary, OHM Global Mobility, has landed a big contract with the Metropolitan Transport Corporation (MTC) in Chennai to supply 500 ultra-low floor electric buses.

• The fleet will consist of 400 non-air-conditioned buses and 100 equipped with AC.
  

These 12-meter buses, known as the Switch EiV12 model, are designed for modern urban environments, accommodating 37 seated and 24 standing passengers comfortably.

Why It Matters:

This deal is a game-changer for Ashok Leyland, boosting its order backlog to over 2,000 vehicles. With over 950 vehicles already on the road, the company is clearly on a roll. This move aligns with the growing trend toward electric mobility in urban areas, responding to rising environmental concerns and the need for efficient public transport systems. 

Moreover, the comprehensive 12-year contract with MTC means that Ashok Leyland will be responsible for the operation and maintenance of these buses, indicating a long-term commitment to the city’s transport infrastructure.

Zoom out

With Ashok Leyland leading the charge in electric public transport, the future of urban commuting in Chennai looks brighter than ever. With a range of over 200 kilometres on a single charge, these buses aim to revolutionise urban commuting in Chennai. Plus, to support this initiative, charging infrastructure will be established at six depots across the city, ensuring the buses remain operational and minimizing downtime.

GLOBAL NAZARA

Nvidia and Reliance team up to build India's AI future

Nvidia's boss, Jensen Huang, announced on October 24 that the tech giant is teaming up with Mukesh Ambani's Reliance Industries to build AI infrastructure in India. The goal? To harness the country’s massive user base and growing data to create world-class AI solutions.

During a fireside chat at the Nvidia AI Summit 2024 in Mumbai, Ambani even gave a cheeky Indian twist to Nvidia’s name, pointing out it sounds like ‘Vidya’—the Hindi word for knowledge. 

India-Germany talks to tackle skilled labour gap 

On October 25, Prime Minister Modi and Chancellor Scholz will meet in New Delhi to discuss key issues, including the movement of Indian talent to Germany and the long-pending India-EU Free Trade Agreement (FTA). With Germany battling a shortage of skilled workers, they’re eyeing India as a solution. 

Germany, India's largest trading partner in the EU, has been pushing for the FTA since 2007.

TOP STORIES

Retail Investors’ Mutual Fund Assets Surge Nearly 50%

What happened

Retail investors have ramped up their investments in mutual funds, as revealed by the latest data from the Association of Mutual Funds in India (AMFI). The total assets held by retail investors skyrocketed from ₹28.10 lakh crore in September 2023 to ₹42.10 lakh crore in September 2024, marking a staggering increase of 49.82%. 

Why It Matters

This jump in mutual fund assets indicates a growing confidence among retail investors, who are increasingly recognizing the value of professional management in navigating the financial markets. 

• 87% of individual investor assets funnelled into equity schemes

In contrast, institutional investors are leaning towards safer liquid and debt-oriented schemes, holding 88% of their assets in these categories. The mutual fund industry's total assets have also surged, rising from ₹47.79 lakh crore to ₹68 lakh crore in just one year. 

Zoom out

The impressive growth in retail mutual fund investments signals not just a shift in investment strategy but also a budding optimism among individual investors about the Indian financial market. As they increasingly lean towards equity-oriented schemes, it seems like mutual funds are not just a safer bet but also an attractive one. 

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