Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Nifty ended lower on Wednesday, snapping a two-day rally as a late-session sell-off erased morning gains, with banks—top performers of recent days—facing profit-taking. The Sensex closed down 426 points at 79,942, while the Nifty declined to 24,340, as sustained FII selling weighed on market sentiment.

TOP STORIES

Samsung's Value Grows as Vivo Tops Volume

What Happened?

Samsung edged past Apple in India’s smartphone market by capturing 22.8% of the value share in Q3 2024, leaving Apple slightly behind at 21.6%. This gain, though modest, marks Samsung’s growing focus on value growth through premium Galaxy models and value-oriented A-series options. 

Vivo, however, took the top spot in terms of sales volume with a 19.4% share, backed by a strong year-on-year (YoY) growth of 26% and an expanding T-series lineup.

Why It Matters

India’s smartphone market is seeing a clear premiumization trend. With Samsung and Apple vying for value dominance, customers are increasingly attracted to higher-end models, especially as 5G phones have taken up 81% of the market share, even reaching 93% in budget-friendly segments like ₹10,001-15,000. 

Meanwhile, MediaTek retained its lead in the chipset arena, powering over half of the devices shipped, while Qualcomm and Apple maintained strong shares in the premium chip segment.

Zoom out

The Q3 smartphone shuffle highlights the fierce competition among brands adapting to India’s demand for premium features at accessible prices. Samsung’s slight edge over Apple shows its focus is paying off, while Vivo continues to rule the volume game with its affordable yet diverse offerings. As the market shifts toward higher-value, feature-rich devices, brands that can balance price and innovation will likely keep winning.

PAISON KA KHEL

TCS teams up with Ireland for retirement fund

Tata Consultancy Services (TCS) has struck a 15-year deal with Ireland’s Department of Social Protection to launch the ‘My Future Fund’ retirement scheme, helping around 800,000 workers save for their golden years. 

With TCS managing similar schemes like the UK’s National Employment Savings Trust (NEST) since 2011, they’re ready to roll out a digital solution for automatic enrolment and benefit disbursement from their Global Delivery Centre in Letterkenny.

Ed returns ₹185 crore to banks in pharma loan scam

The Enforcement Directorate (ED) has returned ₹185 crore to an SBI-led bank consortium defrauded by Surya Pharmaceutical Ltd. Using fake invoices and forged shipping documents, the company’s promoters, Rajiv and Alka Goyal, allegedly secured massive loans, causing an ₹828.5 crore loss before fleeing India in 2017.

TOP STORIES

FMCG, Auto Giants Boost Ad Budgets to Lift Demand

What Happened?

Consumer goods and carmakers like Nestle, Colgate-Palmolive, Maruti Suzuki, and Tata Motors are pouring extra cash into advertising to tackle weak urban demand and revive consumer enthusiasm. 

• In the September quarter alone, Colgate increased its ad budget by nearly 18% to ₹242 crore, with more spending likely through December. 

Nestle and Godrej Consumer Products also boosted their ad spending, hoping to counter local competition during the festive season. 

Why so?

The spending spree signals the companies’ fight against slowing demand, especially in cities hit hard by high food and fuel costs. According to recent industry data, FMCG sales growth in urban areas slowed to 2.8% in Q1 FY25 from 10.1% a year prior. 

The automotive industry is also feeling the pinch, with a 2.3% drop in sales in the first half of FY25, primarily due to sluggish Q2 numbers. Carmakers like Maruti, Volkswagen, and Skoda have responded with “tactical” ad budgets—shifting from brand-building to campaigns aimed at reducing stock ahead of festivals. 

Zoom out

Facing softened urban demand, FMCG and auto giants are doubling down on tactical ad spending, with carmakers now dedicating 40% of their budgets to campaigns focused on immediate showroom traffic. These brands are turning to higher discounts and strategic ads to capture buyer attention, hoping the festive season will revive interest. 

GLOBAL NAZARA

BYD zooms past Tesla in revenue race

Chinese EV giant BYD has sped ahead of Tesla in quarterly revenue for the first time, posting a whopping $28.2 billion in Q3—24% more than last year—while Tesla trailed slightly at $25.2 billion. 

BYD's net profit reached $1.6 billion, up 11.5%, reflecting its successful global expansion. Meanwhile, Tesla’s Q3 profit was $2.2 billion, showing a 17% boost despite Elon Musk’s price cuts.

Lulu Retail aims for a blockbuster IPO in the UAE

Lulu Retail Holdings is gearing up for the biggest IPO in the UAE this year, looking to raise up to $1.43 billion (5.27 billion dirhams). The company, known for its massive hypermarkets, is offering 2.582 billion shares, or 25% of its stake, priced between $0.53 and $0.55 each (1.94 and 2.04 dirhams). With over 240 stores across the GCC, Lulu is cashing in on a retail spending boom that has sparked a flurry of domestic listings.

TOP STORIES

145 Million Shoppers Boost Meesho’s Revenue 

What Happened?

Meesho, the e-commerce platform based in Bengaluru, reported a strong financial year in FY24, seeing a 33% revenue increase, which reached ₹7,615 crore. Losses also narrowed drastically, dropping 97% to ₹53 crore, excluding employee share-based compensation. 

Key drivers of this growth included an uptick in the user base and enhanced order frequency from existing users. 

• Meesho’s unique annual transacting users reached 145 million, roughly 10% of India’s total e-commerce population. 

Why It Matters

To fuel this impressive growth, Meesho has leaned into logistics efficiency through its Valmo platform, successfully reducing shipping costs and adding around 3,000 regional logistics partners. This expansion shows Meesho’s strategy of reaching underserved markets is paying off, with users increasingly returning to shop for essentials across the home, beauty, and baby care categories.

Final words

FY24 was a landmark year for Meesho, with strong revenue growth, streamlined costs, and a focus on user satisfaction powered by tech and logistics innovation. With over 500 million installs and a user-centric approach that passes savings directly to customers, Meesho is set to keep its momentum rolling. Smart cost management has enabled Meesho to compete with major logistics players while maintaining profitability since July 2023—a promising position as it expands.

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