Top of the Morning

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  India’s Market Position Slips, Brazil Takes the Lead India fell three spots to sixth place in Mint’s Emerging Markets Tracker, as a stock market downturn, currency depreciation, and an 11% export decline overshadowed strong GDP growth. Meanwhile, Brazil surged to the top, driven by a 4.5% currency appreciation and stock market gains. China moved up to second, while Thailand secured third place due to export growth. Despite slower depreciation, the rupee remained one of the worst-performing currencies. Tamil Nadu’s Footwear Revolution Tamil Nadu is pivoting from leather to non-leather footwear manufacturing, attracting global brands like Nike, Puma, and Adidas. The state has secured ₹17,550 crore in investments, promising 2.3 lakh jobs. Companies like JR One Kothari have already produced 2 million Crocs, while a ₹5,000 crore Adidas facility is set to create 50,000 jobs. Rising labor costs in China, Vietnam, and Indonesia are making India a viable alternative, but challenges remain—localizing raw material supply is a priority. IPO Market Gears Up for 2025 Major firms like NSE, NSDL, Tata Capital, boAt, JSW Cement, and PhonePe are preparing for IPOs in 2025. Market volatility, investor sentiment, and US policies remain key factors. Analysts say the new wave of IPOs emphasizes financial discipline, AI integration, and ESG compliance. Among key listings, Tata Capital plans a ₹15,000 crore IPO, boAt eyes ₹2,000 crore, and JSW Cement is set for ₹4,000 crore. With market confidence rising, the IPO scene is heating up. Senior Housing, Co-Living Gain Traction India’s real estate market is shifting, with senior housing and co-living emerging as promising yet complex segments. Urbanization is driving demand for mixed-use senior living communities that blend healthcare and family housing. Meanwhile, co-living is rebounding, driven by young professionals seeking affordable housing. However, low yields and operational hurdles make investors cautious. Additionally, luxury branded residences, linked to global hospitality brands, are gaining traction among HNWIs. Indian IT Firms Lead H-1B Approvals Amid Policy Shifts Indian IT companies secured one-fifth of all H-1B visas in 2024. Infosys led Indian firms with 8,140 approvals, trailing Amazon’s 9,265. India remains the dominant H-1B recipient, but policy changes under the Trump administration could impact hiring. The selection process is shifting to prevent multiple filings, fees have increased, and records older than five years are being deleted. While Indian IT firms remain strong, new rules could create hurdles for skilled workers. India’s economic landscape is evolving—can it navigate global headwinds and capitalize on emerging opportunities?

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  IndiGo Soars to New Highs but Faces Valuation Concerns IndiGo’s stock hit a 52-week high of ₹5,190, fueled by strong management commentary and rising air travel demand from the Mahakumbh gathering and an extended wedding season. Passenger traffic surged 17% YoY, lifting revenue per seat. Since January, the stock has gained 25%, delivering a 58% annual return—far outpacing the Nifty 50. However, its valuation of 9.5x earnings exceeds global airline peers like Air China (8.8x) and the industry average (5.5x). IndiGo plans to expand international capacity from 28% to 40% by 2030, adding one aircraft per week and cutting grounded planes. Despite strong fundamentals, analysts warn the upside is limited, with Motilal Oswal and Nuvama setting target prices below its current ₹5,097 level. Eli Lilly Brings Mounjaro to India Eli Lilly has launched Mounjaro, its diabetes and weight-loss drug, in India after securing regulatory approval. With over 101 million diabetes cases and rising obesity, India is a key market for the pharma giant. Already sold in the UK and Europe under the same name and as Zepbound in the U.S., Mounjaro is expected to tap into a global obesity drug market projected to reach $150 billion annually by the 2030s. CEO David Ricks had hinted at a 2025 India launch, and now it’s a reality. Accenture’s Warning Spells Trouble for IT Sector Accenture flagged macroeconomic uncertainty in the U.S., citing weaker earnings and federal contract delays under the Trump administration. The IT giant’s Q2 revenue fell 5.8% sequentially to $16.66 billion but grew 5.4% YoY. Its Q3 revenue outlook remains between $16.9 billion and $17.5 billion, with full-year growth guidance capped at 7%. For Indian IT majors like TCS, Infosys, and Wipro, this signals headwinds, as analysts predict slower growth for India’s $283-billion IT sector in FY26 due to high interest rates and geopolitical risks. However, AI offers a bright spot—Accenture secured $1.4 billion in Gen AI bookings last quarter, with total AI-related orders hitting $5.6 billion since September 2023. The Corporate Rebranding Wave: More Than Just a Name Change? Following Zomato’s shift to Eternal, CK Birla Group’s HIL Ltd has rebranded as BirlaNu Ltd, while Hindalco has also refreshed its identity. Experts say rebranding reflects strategic shifts, next-gen leadership, and market differentiation. Over 1,100 Indian companies have changed names in the past two decades, with BFSI, real estate, and IT leading the trend. A third of newly listed companies rebrand within five years of their IPO, highlighting competitive pressures. But does it impact stock prices? Not necessarily—PwC’s Raghav Narsalay notes that unless tied to a major business shift, investor reactions remain muted. India Approves ₹54,000 Crore Defence Boost India has cleared a massive military upgrade, approving key acquisitions for the Army, Navy, and Air Force. Highlights include: • Air Force: Airborne Early Warning & Control (AEW&C) aircraft to enhance aerial surveillance. • Army: Upgraded 1,350-HP engines for T-90 tanks, improving mobility in high-altitude regions. • Navy: Indigenously developed Varunastra torpedoes for anti-submarine warfare. The Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, also announced measures to speed up procurement as part of the government’s “Year of Reforms” initiative. These moves reinforce India’s focus on military modernization and operational readiness.

It's Thursday, March 20th, 2025. This is Nelson John, let's get started.  Market Rally Continues, Mid- & Small-Caps Shine Indian markets extended their winning streak for the third straight session, with the Sensex closing 148 points higher at 75,449 and Nifty 50 reclaiming 22,900. However, the real momentum was in mid- and small-cap stocks, which surged over 2%, adding nearly ₹5 lakh crore in investor wealth. “The market’s positive momentum is backed by valuations,” said Vinod Nair of Geojit Financial Services, though global uncertainties persist. While Shriram Finance and HDFC Life led the gains, ITC and Tech Mahindra lagged. Analysts expect rangebound movement, with support at 22,600 and resistance at 23,100. Trump Organization Enters India’s Commercial Realty Market After four luxury residential projects, the Trump Organization is launching its first commercial venture in India—Trump World Center Pune. Partnering with Tribeca Developers and Kundan Spaces, the ₹1,700 crore office complex will span 1.6 million sq. ft. with a premium retail boulevard. “There’s a dearth of premium office spaces in India,” said Tribeca’s Kalpesh Mehta. With record-high leasing in Pune’s commercial market, experts believe Trump’s entry will reshape the city’s office landscape. Prologis Bets Big on India’s Warehousing Boom Global warehouse giant Prologis is investing $500 million in India by 2026 to develop large warehousing parks. “The market is underserved, and there’s massive potential,” said Prologis CIO Joseph Ghazal. With major clients like Amazon, the firm is expanding in Delhi, Mumbai, Pune, Bangalore, and Chennai. It has already secured 270 acres for projects in Chennai and Bengaluru. As India’s Grade A warehousing sector grows, Prologis may eventually expand into data centers. RBI’s Balancing Act on the Rupee With the rupee depreciating 2.1% in 70 days under Governor Sanjay Malhotra, the RBI faces a tough choice—intervene or let markets decide. “The uncertainty around Trump’s policies is a key factor,” said economist Madan Sabnavis. India’s $654 billion forex reserves provide a cushion, but too much intervention could distort market dynamics. Former RBI Governor Duvvuri Subbarao cautioned, “Excessive intervention could make markets reliant on the RBI.” India Builds Tur Buffer to Curb Inflation To stabilize tur (pigeon pea) prices, the government is targeting a 1-million-tonne buffer for FY26. With production up 3% to 3.5 million tonnes, procurement has reached 200,000 tonnes so far. Despite an MSP of ₹7,550 per 100 kg, market prices fluctuate between ₹7,000-7,600. Imports from Mozambique and Myanmar help bridge the demand gap. The government has allocated ₹4,019 crore under the Price Stabilization Fund to maintain supply and control food inflation.

It's Wednesday, March 19th, 2025. This is Nelson John, let's get started.  ECI to Link Voter IDs with Aadhaar Amid Concerns The Election Commission of India (ECI) will consult UIDAI to link voter IDs (EPIC) with Aadhaar for those who voluntarily provided it. This move aims to eliminate duplicate registrations while adhering to legal provisions. With 66.23 crore voters already sharing Aadhaar details, the plan faces opposition, particularly from the Trinamool Congress, over concerns of duplicate EPIC numbers. The ECI admitted to some errors in assigning codes but clarified that demographic and polling details remain unique. With 99.2 crore registered voters, upcoming discussions will determine how Aadhaar integration can enhance electoral roll accuracy while maintaining privacy and voluntary participation. Trent’s Stock Stumbles as Zudio Growth Slows Trent Ltd., which saw a 935% stock surge post-pandemic, is now the worst-performing Nifty 50 stock in 2025, down 26%. The slowdown is tied to Zudio’s lagging expansion, as store additions fall below expectations. Growing competition in budget fashion and slower Westside expansion—due to a shift toward larger stores—are also weighing on growth. Analysts, however, remain optimistic about Trent’s long-term prospects, citing its strong private labels and diversification into beauty and lab-grown diamonds. But for now, Zudio’s future will dictate Trent’s stock movement. Bajaj Group to Buy Allianz’s Stake for ₹24,180 Crore Bajaj Group is set to acquire Allianz SE’s 26% stake in Bajaj Allianz General and Bajaj Allianz Life Insurance, valuing both businesses at ₹93,000 crore. While Bajaj gains full control, analysts predict a future public listing of the insurance arms. Despite high solvency ratios—300% for general insurance and 369% for life insurance—the deal’s valuation raises questions. The general insurance acquisition came at a 16% discount compared to ICICI Lombard, but the life insurance buyout appears costly, with weaker profitability. Investors remain cautious as Bajaj’s exposure to lending via Bajaj Finance and Bajaj Housing Finance could impact sentiment. The real challenge lies in delivering future earnings growth. Sebi’s Settlement Process Under Fire for Delays & High Costs Sebi’s settlement mechanism, meant to fast-track securities law violations, is under scrutiny for delays and steep penalties. In FY25, settlements collected ₹851 crore—nearly seven times the ₹125 crore from FY23. Even excluding a ₹643-crore NSE case, the jump is substantial. Yet, efficiency is lagging, with pending settlement cases doubling from 137 in FY23 to 289 in FY24. Critics argue that Sebi arbitrarily inflates settlement amounts and imposes strict non-monetary penalties like voluntary debarments. While Sebi is working on standard operating procedures, legal experts say companies facing delays have little recourse beyond filing writ petitions—though courts rarely intervene. India’s Motorcycle Parts Exports Surge, Imports Decline India’s motorcycle parts exports have jumped 27% over three years, from $558 million in FY22 to $709 million in FY25, driven by the Production-Linked Incentive (PLI) scheme. Imports, meanwhile, dropped from $408 million to $371 million, reflecting growing self-reliance. The sector is benefiting from deeper integration into global supply chains, with strong demand from Latin America, Africa, and Southeast Asia. In FY24, exports hit $741 million, reversing a dip in FY23. Imports have fallen over 30% in two years, highlighting India’s shift toward domestic production. With key buyers like the US, Turkey, and Mexico, India is cementing its place as a global manufacturing hub.

It's Tuesday, March 18th, 2025. This is Nelson John, let's get started.  India’s Solar Growth Faces Execution Challenges Despite crossing 200 GW in renewable capacity, India’s solar energy adoption remains slow, contributing under 10% to its electricity mix. While solar capacity surged from 3.7 GW in 2015 to over 100 GW, issues like weak transmission infrastructure, land acquisition delays, and hesitant power distributors persist. Moreover, the US SEC is probing Adani Green and Azure Power over alleged bribery in solar contracts. Experts suggest grid modernization, better state-Centre coordination, and rooftop solar expansion as key solutions to achieve the 500 GW renewables target by 2030. ABD Bets on Premium Liquor Amid Market Slowdown With India’s liquor market cooling, Allied Blenders and Distillers (ABD) is focusing on premiumization. The maker of Officer’s Choice aims to raise its “prestige-and-above” segment share from 42% to 50% and launch two to three brands next fiscal. Managing Director Alok Gupta sees macroeconomic headwinds but remains bullish on high-end spirits like gin brand Zoya and single malt Arthaus. ABD is also expanding production and partnering with Ranveer Singh to drive brand growth, targeting double-digit value gains. India Braces for US Tariff Impact, Eyes Trade Diversification India’s exports to the US may dip 3-3.5% if Washington enforces reciprocal tariffs in April. With a $35.3 billion trade surplus, India is under scrutiny as the US targets nations with higher import duties. However, India’s FTAs and diversification into global supply chains could soften the impact. The US’s 25% tariff on steel and aluminum imports might even benefit India by easing competition. As US economic growth slows, India must prioritize value-added exports and alternative trade routes via West Asia. UNO Minda’s EV Expansion Faces Market Realities India’s auto industry grew 7% YoY in Q3FY25, but weak passenger and commercial vehicle sales weighed on momentum. EV registrations jumped 37%, boosting component maker UNO Minda, whose stock initially soared 60% on its EV push. However, with EVs contributing under 6% to revenue, shares corrected 30%. Minda continues investing in high-voltage powertrain components and expanding in Indonesia. While rising costs and debt pose challenges, rural two-wheeler demand and operational efficiencies could aid long-term growth. Meta Battles CCI Over WhatsApp Data Sharing Meta is challenging a Competition Commission of India (CCI) order banning WhatsApp from sharing user data with Facebook and Instagram, along with a ₹213 crore fine. The National Company Law Appellate Tribunal (NCLAT) will decide on May 13 whether to hear Meta’s appeal before or after India’s new digital data protection rules take effect. Meta argues that the forthcoming framework makes the CCI’s ruling redundant, but regulators insist the case should proceed now. If NCLAT delays proceedings, it would mark a legal win for Meta. However, with India tightening data laws, Big Tech’s data dominance remains under scrutiny.

It's Monday, March 16th, 2025. This is Nelson John, let's get started.  BIS Cracks Down on Non-Certified E-Commerce Products India’s Bureau of Indian Standards (BIS) has intensified its crackdown on non-certified products sold via Amazon and Flipkart. Recent raids in Lucknow, Gurugram, and Delhi led to the seizure of thousands of uncertified goods, including toys, hand blenders, and gas stoves. Investigators traced the source to Techvision International Pvt Ltd, resulting in further seizures of over 11,000 appliances. Legal action is underway under the BIS Act, 2016, with potential fines and jail time. As non-compliant products flood online marketplaces, BIS urges consumers to verify certifications via its BIS Care app while ramping up surveillance to ensure product safety. Berkshire Hathaway’s Buyback Pause Continues Warren Buffett’s Berkshire Hathaway has halted stock buybacks since May 2024—the longest pause since Buffett gained expanded repurchase authority in 2018. A recent proxy filing confirmed no buybacks between Feb. 10 and March 5, signaling Buffett doesn’t see Berkshire’s stock as undervalued. Despite this, the company’s stock has surged, with Class A shares reaching $771,250—up 13% in 2024, outperforming the S&P 500. Investors remain optimistic due to Berkshire’s $300 billion cash reserves and strong insurance sector performance. With the stock trading at 1.7 times book value and 25 times projected earnings, analysts suggest buybacks may remain scarce unless prices drop. India-New Zealand Resume Free Trade Talks India and New Zealand have reopened negotiations for a Free Trade Agreement (FTA) to deepen economic ties, following talks between Commerce Minister Piyush Goyal and New Zealand’s Trade Minister Todd McClay. Talks, originally launched in 2010, stalled in 2015 due to disputes over dairy access and market entry. New Zealand seeks broader agricultural exports, while India is pushing for better IT and services market access. With bilateral trade at just $1.54 billion in FY24, both nations see untapped potential. The renewed talks align with India’s broader FTA strategy, following deals with Australia and EFTA, as negotiators now focus on tariff reductions and investment facilitation. BWH Hotels Expands Aggressively in India BWH Hotels, operator of Best Western and SureStay, is expanding in India with 21 newly built hotels over the next two years. Speaking at HOPE 2025, CEO Larry Cuculic emphasized a shift from conversions to fresh builds to maintain quality. BWH currently operates 32 hotels across India, Bangladesh, and Sri Lanka, with plans to expand into secondary markets, driven by infrastructure growth and rising demand for business and wedding travel. The company has signed 54 properties, aiming for 100 hotels in 5-7 years. India’s hospitality sector is attracting global chains like Marriott and Wyndham, with BWH focusing on managed full-service offerings tailored to local preferences. India’s Sugar Production Drops 16%, Raising Supply Concerns India’s sugar output has fallen 16.13% to 23.71 million tonnes in the 2024-25 season, causing concern among policymakers. The National Federation of Cooperative Sugar Factories (NFCSF) highlighted “ambiguity” in production data, warning of potential impacts on domestic supply and exports. The crushing season, nearing its end, has seen lower-than-expected yields, possibly due to erratic weather. This decline may lead the government to reassess export policies and stock management, balancing farmer support with stable sugar prices. The industry awaits potential policy adjustments as the government monitors supply dynamics.

It's Friday, March 14th, 2025. This is Nelson John, let's get started.  LG Electronics India’s ₹15,000 Crore IPO Gets SEBI Nod LG Electronics India has received SEBI approval for its ₹15,000 crore IPO, following Hyundai Motors as the second South Korean company to list in India. The 100% offer-for-sale (OFS) will see the parent company offload a 15% stake, with proceeds not going to LG India. With ₹64,087 crore revenue in FY24, the consumer electronics giant is gearing up for listing amid rising demand for premium appliances. Tata Motors Faces Headwinds as Auto Rally Cools India’s booming auto industry is slowing down. The Nifty Auto Index, up 36% post-pandemic, has dipped 25% since September, with Tata Motors losing 33% of its value. The slowdown in Jaguar Land Rover (JLR) sales, tightening EU emission norms, and China’s EV shift have hit Tata hard. Its EV market share in India has dropped from 73% to 53% due to rising competition. Despite these challenges, Tata remains bullish on JLR’s cash flow, but investors await signs of a rebound. Reliance FMCG Expansion Will Take Time Reliance Consumer Products Ltd (RCPL) is scaling up its FMCG business, aiming for nationwide reach in 3-4 years. With brands like Campa Cola and Independence, RCPL has already taken 10% of the sparkling beverage market in key states. However, success hinges on building a strong general trade network—critical for India’s mom-and-pop-driven market. With a target of 5-6 million retail outlets and ₹1,000 crore turnover expected for FY25, Reliance is playing the long game. CG Power’s Big Bets on Railways and Semiconductors CG Power is capitalizing on India’s infrastructure push, securing a ₹450 crore contract for Vande Bharat trainsets. It’s also making a ₹7,600 crore bet on semiconductors, launching a chip assembly plant in Gujarat with government backing. A ₹9,706 crore order book (up 70% YoY) signals growth ahead. Brokerages are bullish—Nomura projects a 33% upside. With India prioritizing infrastructure and high-tech industries, CG Power is positioning itself as an industrial powerhouse. Sun Pharma Expands Oncology Play with $355M Checkpoint Buy Sun Pharma is strengthening its oncology pipeline with the $355 million acquisition of US-based Checkpoint Therapeutics. This gives it access to Unloxcyt, an FDA-approved skin cancer drug with a $500M peak sales potential. Though Checkpoint has been loss-making, Sun sees long-term value in high-margin specialty drugs, which now contribute 18% of revenue. However, with the stock down 11% in 2025, the success of Unloxcyt’s launch will be critical for investor confidence.

It's Thursday, March 13th, 2025. This is Nelson John, let's get started.  1. Saudi’s Riyadh Air Eyes India for Expansion Riyadh Air, Saudi Arabia’s new airline, sees India as a key market, with CEO Tony Douglas calling it “super important.” Set to begin operations this year, the airline is in early talks with Air India and IndiGo for potential partnerships. Riyadh Air plans to connect Saudi Arabia to over 100 destinations by 2030 and has already partnered with Singapore Airlines, Turkish Airlines, Virgin Atlantic, and Delta. With a fleet of Boeing 787-9 Dreamliners and Airbus A321 neos, the airline is tapping into India’s booming aviation market, where Indians form the second-largest expat group in Saudi Arabia. Notably, 16% of Riyadh Air’s staff are Indian. 2. Estée Lauder, DPIIT to Boost India’s Beauty Startups India’s beauty and personal care startups are set for a major push as the Department for Promotion of Industry and Internal Trade (DPIIT) partners with US cosmetics giant Estée Lauder. Through its BEAUTY&YOU India initiative, the collaboration will offer funding, mentorship, and global industry access, with a special focus on women-led startups. India’s beauty market is expected to grow from $7.43 billion in 2025 to $9.69 billion by 2034. “This is a first-of-its-kind initiative,” said Sanjiv, Joint Secretary, DPIIT. With India boasting the world’s third-largest startup ecosystem, this partnership could drive innovation and scaling opportunities for beauty entrepreneurs. 3. India’s IT Stocks Plunge Amid Growth Concerns India’s top IT firms—TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra—saw their stocks fall up to 4.28%, erasing ₹75,414 crore in market value. Brokerages Morgan Stanley, Kotak Institutional Equities, and Motilal Oswal flagged concerns over sluggish IT spending recovery in FY26-27. High interest rates, geopolitical tensions, and vendor consolidation are slowing discretionary tech spending. “We see a transition phase where IT spending is reprioritized, moderating growth,” noted Morgan Stanley analysts. Despite these headwinds, Nasscom projects the IT industry to cross $300 billion by March 2026, implying 6.2% annual growth, though analysts remain skeptical. 4. Gold’s Surge Raises India’s Sovereign Gold Bond Liabilities As gold prices soar and equities struggle, the Indian government faces rising liabilities on its Sovereign Gold Bond (SGB) scheme, which ties payouts to gold’s market price. Gold has outperformed equities since 2015, rising 3.46 times its value, while Nifty 50 has declined. ₹2.39 trillion has already been paid under gold-related schemes since 2017, with another ₹1.4 trillion budgeted for 2024-26. With 132,000 kg of gold equivalent set for payout between 2025 and 2032, a prolonged gold rally could strain government finances, making this a key issue for policymakers and investors. 5. Wendy’s, Rebel Foods to Open 500 Locations in India by 2028 Rebel Foods will invest ₹100-150 crore to expand Wendy’s footprint in India, targeting 500 locations by 2028. The expansion leans heavily on cloud kitchens, which will account for 70% of new openings. Currently, Wendy’s operates in 200 locations, with 185 cloud kitchens and 15 offline stores. India’s quick-service restaurant (QSR) market is growing at a 23% CAGR, but profitability remains challenging due to inflation and competition. Rebel Foods CEO Ankush Grover expects the IPL season to boost sales. Rebel Foods, which runs over 450 cloud kitchens across India, the Middle East, and the UK, recently raised $210 million from Temasek to fuel expansion.

It's Wednesday, March 12th, 2025. This is Nelson John, let's get started.  Govt Plans LIC Stake Sale The Indian government may sell a 2-3% stake in LIC in FY26, subject to market conditions, as part of SEBI’s mandate to reduce its stake to 90% by 2027. Instead of a single offering, the sale might be in tranches to maximize value. With a 96.5% holding, the Centre’s stake sale could fetch ₹9,500-14,500 crore at current prices. However, with weak market sentiment, analysts believe the government will wait for a recovery. Temasek’s ₹8,500 Crore Bet on Haldiram’s Singapore’s Temasek has acquired a 10% stake in Haldiram Snacks Food Pvt. Ltd. for ₹8,500 crore, valuing the snack giant at ₹85,000 crore ($10 billion). The deal follows a restructuring merging Haldiram’s Delhi and Nagpur operations under one entity. The family may sell another 5% stake to Blackstone or Alphawave Global. With ₹14,000 crore revenue in FY24 and a 40% market share, Haldiram’s is eyeing an IPO in 24-36 months, signaling strong investor interest in India’s growing food sector. Zydus Expands into Medical Devices with €256.8M French Acquisition Zydus Lifesciences is set to acquire an 85.6% stake in French firm Amplitude Surgical for €256.8 million, with plans for a full €300 million buyout. This move marks Zydus’ entry into global medtech, focusing on orthopaedics, cardiology, and nephrology. “We aim to build a sizable medtech business in 5-7 years,” said MD Sharvil Patel. With India still importing 80-85% of medical devices, Zydus sees a major opportunity in local manufacturing and global expansion. Fewer Promotions, Modest Salary Hikes in 2025 Employees may see career growth slow in 2025, with promotions projected to drop 25%, per Deloitte. Economic uncertainty, slower revenue growth (4.4% in Q3FY25 vs. 9.1% two quarters ago), and cost-cutting measures are driving this trend. US President Trump’s proposed tariffs could further impact key Indian industries. Companies are tightening performance evaluations, and salary hikes are expected to average 9.2% in 2025, slightly lower than last year. Some IT firms may offer promotions without pay raises to retain staff, while Vedanta Group remains an outlier, maintaining promotion levels. IndusInd Bank’s ₹19,000 Crore Stock Meltdown IndusInd Bank’s stock crashed over 25% after revealing discrepancies in its derivatives portfolio spanning 5-7 years, impacting net worth by 2.35% (~₹1,600 crore). An external audit is underway, but the disclosure has raised concerns over internal controls. The RBI recently granted CEO Sumant Kathpalia just a one-year extension, possibly due to this issue. With a 50% stock decline in six months and stress in its microfinance portfolio, IndusInd faces a tough road ahead to rebuild investor trust.

It's Tuesday, March 11th, 2025. This is Nelson John, let's get started.  🚨 Ola Electric Faces Regulatory Scrutiny Ola Electric’s rapid expansion—4,000 stores in two years—has run into legal trouble. A Bloomberg report claims 95% of its showrooms lack trade certificates needed to display or sell unregistered vehicles, triggering raids, shutdowns, and vehicle seizures across states. Ola dismissed the allegations as “misplaced and prejudiced,” but internal documents suggest it only sought certification after facing scrutiny. Meanwhile, its stock fell 4% on March 10, adding to a 60% decline since its IPO. Alongside regulatory woes, Ola is battling layoffs, launch delays, and shrinking market share as Bajaj and TVS gain ground. A major red flag? Ola reported 25,000 vehicle sales in February, but only 8,600 were officially registered. CEO Bhavish Aggarwal remains optimistic about a turnaround, but challenges continue to mount. 🎵 Spotify’s India Strategy Pays Off, But Can It Make Money? When Spotify entered India in 2019, competition was fierce. Yet, six years later, it has emerged as a dominant player, with 91 million unique visitors and 46% YoY growth in listening hours. Its success lies in hyper-local strategies—curated regional playlists, flexible pricing, and an artist-centric approach. “India was our 79th market, and we were here for the long game,” says Amarjit Batra, MD of Spotify India. Over 70% of streams now come from local artists. However, monetization remains a challenge—subscription prices in India are much lower than in Western markets, and artist payouts remain a pain point. Spotify has changed India’s music habits, but whether it can turn free listeners into paying subscribers remains the billion-dollar question. 📉 Inflation Cools, Strengthening Case for Rate Cuts India’s retail inflation likely eased to 3.9% in February from 4.3% in January, marking four straight months of cooling prices, according to a Mint poll of 25 economists. The key driver? Falling food prices, especially vegetables, which saw inflation drop from 40% last year to 11.4% now. With inflation undershooting RBI forecasts, economists believe this could pave the way for a rate cut in April. “A moderation in CPI inflation below 4% should provide space for the MPC to lower rates by another 25 basis points,” says Annubhuti Sahay of Standard Chartered Bank. However, with GDP growth at 6.2%, the RBI will need to balance inflation control with economic stimulus. The official inflation report, due March 12, will be a key indicator of the central bank’s next move. 🏸 Gopichand Warns Parents: ‘Don’t Push Kids Into Sports Without Money’ Former Olympian and badminton coach Pullela Gopichand has sparked debate by cautioning parents against pushing kids into professional sports unless they are financially secure. His concern? The exorbitant cost of training and the lack of stable career opportunities. Tennis player Tishya Khandelwal’s family, for example, spends ₹45 lakh annually on her training in Australia. Chess prodigy Vedant Panesar shells out ₹3-3.5 lakh per European tournament, with little financial support until players reach the elite level. While cricket and football offer lucrative leagues, most other sports struggle to provide financial security. Even for top players, post-retirement options are limited. As one parent bluntly puts it, “Only the top 100 in pro tennis break even. Everyone else loses money.” Passion alone isn’t enough—deep pockets are almost a prerequisite.