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06/11/2024

SEBI has issued a circular with a standard format for mutual fund houses to disclose expenses and risks associated with mutual fund schemes.

Maanav DJ explains the contents of the disclosure at the link in the bio.

06/11/2024

After AI, big tech has jumped on the nuclear energy bandwagon. From Amazon and Google to Meta and Microsoft, major tech companies are turning to nuclear energy to power their data centers.

Sethu Pradeep explains why. Read our explainer at the link in the bio.

05/11/2024

The value proposition of DMart’s large-format stores is no longer a competitive moat. However, its insistence on prioritizing physical stores—at the expense of expanding its online presence—is holding it back.

Will it buck the trend?

Neethi Lisa Rojan dives into the story. Read the full story at the link in the bio.

04/11/2024

Microsoft and a16z issued a rare joint statement opposing US’ legislative efforts to regulate AI models. However, the statement ultimately highlighted the vested interests behind it.

Sethu Pradeep writes why in today’s explainer. Read the full piece at the link in the bio.

04/11/2024

Over the past four years, the Middle East has emerged as a prime destination for the tech startup ecosystem. Everyone—from major tech investors and companies like Microsoft to budding entrepreneurs—is eager to establish a presence here.

Harveen Ahluwalia reports on why this tech startup boom has been long overdue at the link in the bio.

03/11/2024

Documents leaked by a whistleblower have shown a second set of minutes from a 2019 CoS meeting in connection to the Dharavi Redevelopment Project. The documents show that the proceedings were altered to drop the second set of minutes, which referred to the winner of the original tender. The original tender was eventually canceled, and the Adani group subsequently went on to win the one floated in October 2022.

T. Surendar writes. Read the full story at the link in the bio.

03/11/2024

Quick commerce—a game changer for India’s FMCG industry—accounts for nearly one-third of e-commerce sales. Unlike online food delivery startups, which took over a decade, quick commerce has rapidly gained traction while facing significant challenges to achieve near sustainability.

Currently, 31% of urban Indians use quick commerce for primary grocery shopping, while nearly 40% rely on it for top-ups, proving skeptics wrong about Qcomm’s viability.

Alongside deep discounts, what makes the economics of this model work in India when similar models have struggled globally? Pradip K. Saha finds out. Read the full story at the link in the bio.

03/11/2024

HDFC Bank’s consumer lending subsidiary, HDB Financial Services, has found itself among the 15 largest shadow banks in India. As such, this non-banking financial company is mandated by the RBI to be publicly listed by September 2025—an ambitious goal with only 11 months to prepare.

This IPO seems to be diverting the bank, and CEO Sashidhar Jagdishan, from addressing bigger issues at hand.

In our long read, Furquan Moharkan looks at the latest addition to the bank’s growing list of challenges. Check it out at the link in the bio.

03/11/2024

The Reliance group, curiously, may drop its pursuit of a prime plot of sea-facing land in Breach Candy, an upscale Mumbai area.

In the beginning, India’s biggest privately owned corporate entity did not expect any resistance from the family that owns the land at all. However, Seth Damodar Madhavji Charity Trust (DMT), controlled by the Vussonji family, has opposed the group’s attempts tooth and nail for the past four years.

Paranjoy Guha Thakurta explains an alleged “backdoor attempt” to wrest control of the family trust, the Antilia connection, and why Reliance is backing off (if at all). Read this story at the link in the bio.

02/11/2024

The US is clamping down on investments in China for technologies such as computer chips, quantum computing, and AI.

This shift could be an opportunity for India to gain a foothold. But success will hinge on multiple factors.

Sethu Pradeep examines the changes India must make to rise to the occasion. Read the explainer at the link in the bio.

02/11/2024

A whistleblower has shared documents that suggest impropriety in the process followed by the Maharashtra government in awarding the Dharavi Redevelopment project tender.

The documents reveal that the proceedings of a key oversight panel were altered to exclude a reference to the winner of the original tender. This introduced an element of uncertainty, ultimately leading to the cancellation of the tender.

T Surendar on the “missing” minutes of the meeting from the Dharavi project. Read the full story at the link in the bio.

02/11/2024

Nestlé India Chief Suresh Narayanan commented that the country’s middle class “seems to be shrinking.” He explained that while premium consumption remains high, products typically bought by the middle class, like milk and chocolates, haven’t seen much growth.

The RBI, however, has maintained its 2024-25 growth estimate at 7.2%.

So, what does Narayanan mean by the middle class shrinking? Disha Acharya writes in our explainer. Read the full piece at the link in the bio.

02/11/2024

Run out of tea, or simply want to buy the new iPhone without standing in line? India has found a way to satisfy your most urgent needs within minutes through quick commerce. Along the way, the sector has also proven naysayers wrong about its viability.

How did Indian quick commerce strike gold with urban retail? Pradip K. Saha dives in. Read our story at the link in the bio.

01/11/2024

If the launch of SuperGaming’s Indus Battle Royale is any indication, the company, and India’s gaming sector may still have a long road ahead. Despite millions of downloads and positive feedback for previous games, SuperGaming hasn’t quite succeeded with its latest smartphone release.

Why did the game struggle to connect with Indian gamers, and could this have ripple effects across the Indian gaming industry? Maanav DJ explores in our explainer. Read at the link in the bio.

01/11/2024

HDFC Bank finds itself in a challenging position: it must list HDB Financial Services, a non-banking financial company, within the next 11 months.

Adding to the complexity is a cloud of uncertainty around its valuation, as the RBI considers regulatory changes in the sector. The bank may need to ensure zero overlap between its core activities and those of its subsidiaries. If enforced, this requirement could severely impact HDB Financial Services’ business prospects.

Furquan Moharkan unpacks the intricacies of this time crunch and the valuation risks HDFC faces, alongside a hint of internal crisis. Read the full story at the link in the bio.

01/11/2024

India made a strong impression at this year’s GITEX. Startups, brought in by organizations like Nasscom, Startup India, Kerala Startup Mission, StartupTN, and others, ensured India’s participation was well noted.

All this and more in our second edition of a newsletter covering tech and business in the Middle East.

Harveen Ahluwalia and Maanav DJ write at the link in the bio.

01/11/2024

The Reliance Group has been eyeing a plot of land in Mumbai’s upscale Breach Candy for the past four years, allegedly even making a “backdoor attempt” to take control of the family trust that owns it.

The sea-facing plot, belonging to the Seth Damodar Madhavji Charitable Trust and controlled by the Vussonji family, is 16,000 sq ft in size and valued at no less than Rs 285 crore.

Paranjoy Guha Thakurta takes a deep dive into why—if at all—the conglomerate has backed off, and the connection to Antilia. Read our story at the link in the bio.

30/10/2024

Razorpay reported a 24% YoY revenue growth in its Payment Gateway business for the first nine months of 2024, with profit after tax nearly quintupling.

Maanav DJ reports at the link in the bio.

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