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- Bit by Bit 10th November ||
Bit by Bit 10th November ||
Good Afternoon!
So, here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET UPDATE
NIFTY 50 : ₹18,157.00 (-0.25%)
BSE SENSEX : ₹61,033.55 (-0.25%)
NIFTY BANK : ₹41,783.20 (+0.23%)
USD/INR : ₹81.36 (-0.01%)
BRENTOIL : $92.60 (-2.88%)
MCXGOLD : ₹51,500 (-0.25%)
FII Net Cashflow : + ₹387 crores
DII Net Cashflow : - ₹1060 crores
(Market data as of 11:00 PM on 9/11/2022)
ECONOMY
Key Facts
India predicted to become third largest economy by 2030
· Implications are a rise in credit to GDP, better healthcare services, greater insurance penetration, and an increase in a number of investors.
Number of households earning more than $35000 per year to increase fivefold in the next decade
The Story
India is predicted to become the third largest economy and stock market by the end of the decade, with the economy expected to cross 7.5 Trillion dollars by 2031, according to a report by Morgan Stanley
The number of households earning more than $35000 annually is likely to increase fivefold in the coming decade. The GDP is expected to exceed $7.5 trillion by 2031, more than double the current value. The rise in income is likely to give a consumption boom and will result in 11% compounding of market cap to $10 Trillion
The increase in income will help India cross the crucial $2000 per capita GDP level. India started with a higher consumption rate than China, another economy with similar statistics. Consumption in the next decade is poised to equal consumption in china in 2015.
AUTOMOTIVE
Key Facts
CarDekho Group, which is getting ready to go public, declared on Monday that it would invest $100 million in Rupyy.
They aim to represent 35% to 40% of the segment’s market share.
Rupyy company's monthly disbursement volume for auto loans surpassed 500 crores
The Story
CarDekho Group, which is getting ready to go public, declared on Monday that it would invest $100 million in Rupyy, a fintech platform that offers financing choices to car buyers and retailers.
The investment, which will be made in a combination of debt and equity, will be used to scale both the technology stack and the NBFC (non-banking financial company) business. Additionally, new product categories will be introduced.
Namit Jain, co-founder, and CEO of Rupyy predicted that the parent company's investment will greatly accelerate the funding process. "We want to represent 35% to 40% of the segment's market share as we continue to expand in multiple verticals and enter new regional marketplaces."
In April, CarDekho affiliate Girnar Capital Pvt. Ltd. funded the creation of Rupyy. In September 2022, the company's monthly disbursement volume for auto loans surpassed 500 crores.
By March 2023, it hopes to reach 10,000 crores in annualized disbursals. The business will concentrate on financing for EVs (electric vehicles) as part of its initial rollout plan. In a press statement, it stated that it is working to establish pan-Indian partnerships with OEMs (original equipment manufacturers) in the industry.
Additionally, Rupyy has introduced a lending platform based on QR codes that offer quick disbursements through video KYC and digital agreements. More than 2200 car dealerships and distributors around the country provide the platform.
FMCG
The Story
The Hindi belt, particularly Uttar Pradesh and Bihar, has slowed the overall growth, according to consumer goods companies, and there is no consistent trend in the downturn in rural India.
"We have observed credit and liquidity strain in rural businesses, particularly in the rural heartland, which is primarily UP and Bihar. The monsoon in certain places was also a little spotty, which really made the issue worse "Investors were informed by Mohit Malhotra, CEO of Dabur. We are observing liquid pressure in these regions. More than a quarter of the nation's fast-moving consumer goods (FMCG) are consumed in rural areas, while UP and Bihar experienced either excessive or insufficient rainfall in a number of places. According to Krishnarao Buddha, senior category head at Parle Products, India's largest food company, "there are states like Maharashtra, Gujarat, or Punjab that are not seeing any slowdown in rural markets, but the Hindi belt, especially these two states, are large contributors and impacted the overall growth in villages."
Hindustan Unilever reported that the FMCG market increased 7% in value and decreased 6% by volume, or the number of units sold, in the three months ending in September. According to Nielsen, the urban FMCG market is driving value growth, with the rate increasing to 9% in the most recent quarter from 7% over the previous 12 months. Rural areas only slightly improved, at 3%.
Since rural demand grew twice as quickly as urban demand in 2019, village growth has lagged behind urban growth for the past year. Companies claimed that for the market as a whole to grow, the tendency needed to change. "The joker in the group is, in our opinion, the gradual restoration of rural consumption and its return to the countryside. We are also entering a base that may be a little softer "The MD of Marico, Saugata Gupta, told analysts last week.
TECH
The Story
The government has approved Bharat Sanchar Nigam Ltd’s (BSNL) plan to go ahead with a Rs 26,821 crore order to IT services provider Tata Consultancy Services (TCS) for rolling out the state-run telco’s 4G network. Officials aware of the details said the telco will soon give the purchase order to TCS for 100,000 sites.
As part of the deal, along with setting up the 4G sites, TCS will have to maintain the network for nine years. An official in the Department of Telecommunications (DoT) said BSNL, with some 111 million wireless subscribers, will aim to launch 4G services by December or January, and gradually roll out the network across the country.
The loss-making firm was forced to cancel a tender for 4G services in 2020 due to restrictive conditions for domestic firms. Subsequently, it was directed to only utilise equipment from domestic companies. The latest 4G deal comes in the wake of the Rs 1.64 lakh crore bailout package for the carrier, which includes grant of spectrum, 4G launch and funding of operations and capital expenses, among other elements.
The government believes that a successful rollout of BSNL’s 4G network could propel India into a coveted club of countries — such as the United States, Sweden, Finland, South Korea and China — that have developed telecom network technology. The market is dominated by the likes of Sweden’s Ericsson, Finland’s Nokia and China’s Huawei, while S. Korea’s Samsung is also emerging as a key player.
Want a BIT More?
If bumblebees can play, does it mean they have feelings?
Story:
When put to the test, bees have proved over and over again that they've got a lot more to offer than pollinating, making honey and being fiercely loyal to a queen. The industrious insects can count and alter their behavior when things seem difficult, and now some scientists say there's proof they also like to play. Researchers from Queen Mary University of London conducted an experiment in which they set up a container that allowed bees to travel from their nest to a feeding area. But along the way, the bees could opt to pass through a separate section with a smattering of small wooden balls. Over 18 days, the scientists watched as the bees "went out of their way to roll wooden balls repeatedly, despite no apparent incentive to do so."
The finding suggests that like humans, insects also interact with inanimate objects as a form of play. Also similar to people, younger bees seemed to be more playful than adult bees.
The study's first author, Samadi Galpayage, who is a PhD student at Queen Mary University of London, added that it is yet more evidence that insects may be capable of experiencing feelings.
