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- Bit by Bit 24th November || Are we heading towards a recession? || Transaction cap in UPI apps & More
Bit by Bit 24th November || Are we heading towards a recession? || Transaction cap in UPI apps & More
Good Morning Readers, here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET UPDATE
NIFTY 50 : ₹18,267.25 (+0.13%)
BSE SENSEX : ₹61,510.58 (+0.15%)
NIFTY BANK : ₹42,729.10 (+0.64%)
USD/INR : ₹81.73 (+0.02%)
BRENTOIL : $85.12 (-3.67%)
MCXGOLD : ₹52,470 (+0.35%)
FII Net Cashflow : - ₹790 crores
DII Net Cashflow : + ₹414 crores
(Market data as of 11:00 PM on 23/11/2022)
ECONOMY
Key Facts
Economists at Barclays expect their worst-case scenario of a 5% decline in gross domestic product to be avoided but continue to see a 1.3% drop as likely.
Russian natural-gas giant Gazprom PJSC on Tuesday threatened to further throttle exports to Europe via Ukraine from next week
The Story
The global economy is slowing as the eventful year 2022 comes to an end, but economists do not expect it to enter a recession, even if several of the world's largest economies do. Business surveys issued on Wednesday indicated that output fell across Europe's main economies in November, reinforcing concerns that rising energy prices will force them into contraction in the fourth and first quarters of this year and next.
Some economists believe the United States economy will contract for two consecutive quarters in the first half of next year as a result of the Federal Reserve's quick tightening of monetary policy, though this is far from guaranteed. In the near term, Europe seems likely to avoid the worst outcomes that policy makers had feared as they prepared for a surge in energy demand over the winter months. A mild October and high levels of gas storage make it less likely that Europe’s factories will face energy rationing.
The outlook for China’s economy is also highly uncertain as the government eases some of the restrictions associated with its zero-Covid policy and weak growth this year. Economists see a gradual reduction in lockdowns that affect major industrial centers as key to an expected rebound in growth next year, but a recent surge in infections has raised questions about how quickly that can proceed. This rebound is expected to avoid the recession in the world economy
FMCG
Key Facts:
Parle Products crossed $2 billion in annual revenues during FY22
Becomes the first packaged food company in India to breach the mark
Five-rupee-a-pack Parle-G had also become the second Indian fast moving consumer goods brand to cross the $1 billion-mark in retail sales last year
The Story:
Parle Products, which retails brands including Parle G, Monaco and Melody, crossed $2 billion in annual revenues during FY22, becoming the first packaged food company in India to breach the mark.
The biscuit maker posted a 9% increase in net sales at Rs 16,202 crore while profit slipped 81% to Rs 256 crore during the year ended March. Parle Products said its value for money plank especially for Parle G have been crucial in growing the brand consistently over the years, more so during inflationary times when consumers are cutting spends and opting for smaller packs.
"The growth was also driven by rural areas, which account for nearly 55-60% of the overall sales. We also expanded our distribution by 12% last year, which helped,” said Mayank Shah, senior category head at Parle Products.
The five-rupee-a-pack Parle-G had also become the second Indian fast moving consumer goods brand to cross the $1 billion-mark in retail sales last year, after Haldiram. The biscuit brand has been India's top FMCG brand every year since a decade, according to Brand Footprint, Kantar Worldpanel’s annual ranking of the most chosen consumer brands in India.
AUTOMOTIVE
Key Facts:
BMW plans to introduce their super bike 2023 BMW S 1000 RR in India next month
The Story:
The 2023 BMW S 1000 RR, a superbike from BMW, will debut in India next month. The bike will have its national debut on December 10, 2022. It is powered by a 999cc inline-four engine that now produces 210 horsepower, 113 Nm of torque, and a little longer wheelbase from 1440 to 1458 millimetres.
The chassis of BMW's top model has undergone the most extensive revisions, with numerous adjustments made to the geometry of the BMW S 1000 RR. When a motorcycle is leaned over, the suspension stroke does not line up with the road bumps, therefore it is crucial for the chassis to bend in a regulated way to absorb road imperfections. The manufacturer altered the structure of the frame to allow for additional lateral flex.
TECH
The Story
The market is now being dominated by UPI platforms like PhonePe and Google Pay, which have about 80% of the market share. The NPCI has submitted a proposal for a 30 percent volume cap in November 2022, which the organization is asking the RBI to adopt in order to prevent the monopoly of any UPI app. According to ANI, the National Payments Corporation of India (NPCI) may soon put into effect its suggested deadline of December 31 to reduce the volume cap for third-party UPI app providers (TPAP). This implies that users of PhonePe, Google Pay, and other UPI programs would no longer be able to conduct limitless transactions. According to reports, a meeting was conducted to fully comprehend the pre-proposal status quo.
According to the reports, this meeting was attended by senior officials from the NPCI, RBI, and finance ministry. However, no choice has yet been made. In the meantime, all member banks that issue and acquire RuPay for point of sale (PoS) and e-commerce transactions have had their switching fees waived by the National Payments Corporation of India (NPCI) through the end of the year. As of 11 November and continuing through December 31, 2016, there is no switching cost, according to a statement released by NPCI on Monday. For PoS and e-commerce transactions, the fees were Rs0.60 for the card issuing bank (issuer) and Rs0.30 for the card-accepting bank (acquirer). According to NPCI managing director and CEO A P Hota, the goal is to assist banks with the activation of current RuPay cards, the issuing of new cards to consumers who aren't already cardholders, and the expansion of acceptance locations. There are currently 14 lakh PoS terminals in the nation, and the number of acceptance points is increasing. According to NPCI, from the present level of little over 5 million transactions, 755 million debit card holders could generate around 50 million card transactions daily with the correct push.
Want a BIT More?
Key Points
The Shark Tank India first season had more than 85,000 applicants, and 67 firms received investments totaling over INR 42 crore.
Scam 1992 grabbed the top spot with a rating of 9.6 out of 10 on IMDb.
Early in 2020, there were just 700,000 subscribers to sony liv; as of today, there are more than 18 million.
The Story
Reality is stranger than fiction. It makes sense why the audience's interest is piqued when a specific event or incident seared into the collective memory is replayed on film. The majority of us are aware of these incidents, but we rewatch them to learn the finer points. Examples include the Jeff Dahmer horror, the 26/11 Mumbai attacks, the Harshad Mehta stock-market swindle, and Abdul Karim Telgi's story involving counterfeit stamp paper.
The CEO of SonyLiv, Sony Entertainment Television, and StudioNEXT, Danish Khan, is aware of this. Therefore, before approving the shows, he pays attention to their "curiosity quotient."
I have always been interested in learning more about various subjects, including the financial industry, physics, history, sociology, and even the "why" of crime. Discovery emerges from curiosity. We discovered that there are many folks like myself as we conducted our market research. In reality, a sizable market sector is made up of inquisitive individuals that are eager to learn or know in depth.
