Bit by Bit 25th November || Tata to acquire bisleri for upto 7000Cr || Gaza Youth seek escape from reality using VR & More

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MARKET UPDATE

• NIFTY 50 : ₹18,484.10 (+1.19%)

• BSE SENSEX : ₹62,272.68 (+1.24%)

• NIFTY BANK : ₹43,075.40 (+0.81%)

• USD/INR : ₹81.63 (+0.03%)

• BRENTOIL : $85.11 (-0.01%)

• MCXGOLD : ₹52,684 (+0.44%)

• FII Net Cashflow : + ₹1232 crores

• DII Net Cashflow : - ₹236 crores

(Market data as of 11:00 PM on 24/11/2022)

ECONOMY

Unemployment rates drop to 7.2% in July-September quarter, finds NSO survey

Key Facts

• Unemployment rate among females is 9.4%

• Unemployment rate among males is 6.6%

• Overall unemployment rate in urban areas is 7.2%

• Labor force participation is 47.9% and WPR is 44.5%

The Story

India's unemployment rate for people aged 15 and above eased to 7.2% from 9.8% last year for the month of September. This indicates a sustained economic recovery following the pandemic that rendered millions of people jobless.

According to data from National statistical office, the unemployment rate for females aged 15 and above in urban areas in the June-September quarter slowed to 9.4% compared to 11.6% last year.

The unemployment rates for males fell to 6.6% this quarter compared to 9.3% last year. It is worthy to note that the unemployment rates were higher last year due to COVID related restrictions in the country.

Labour force participation rate in CWS in urban areas increased to 47.9 % from 46.9% for the July-September quarter. The WPR stood at 44.5%

FMCG

Tatas to acquire Bisleri for up to ₹7,000 crores.

The Story:

According to Ramesh Chauhan, chairman of Bisleri International, Tata Consumer Products Ltd. will purchase the company for up to 7000 crore, the Economic Times newspaper said on Thursday. Requests for comment from Reuters were not answered by Bisleri or Tata Consumer Products. Tata Consumer led all Nifty50 gainers today, climbing more than 2.5% in early trade.According to a report from market research and advisory TechSci Research, the Indian bottled water industry was valued at over USD 2.43 billion (about 19,315 crore) in FY2021. According to the report, it is anticipated to develop at a CAGR of 13.25 percent due to rising disposable income, rising health and hygiene awareness, and rising product innovation.

According to the survey, "bottled water is growing in popularity among consumers since it is regarded to be more hygienic than loose conventional market water, which is bad for health and harmful to drink." The segment is contested by a number of businesses, including Coca-Cola India through its brand Kinley, PepsiCo's Aquafina, Bailley from Parle Agro, and Rail Neer from the Indian Railway Catering and Tourism Corporation (IRCTC), however they are all lagging behind Bisleri, the market leader. With the bottled water brand Bisleri and the spring water Vedica, Ramesh J. Chauhan-led Bisleri International competes in the market.

Additionally, it can be found in branded carbonated beverages including Spyci, Limonata, Fonzo, and PinaColada. In addition, Chauhan developed a number of super brands, including ThumsUp, Gold Spot, Maaza, and Limca, which was purchased by the Coca-Cola Company in 1993 after the Atlanta-based corporation's reentry into the Indian market.

AUTOMOTIVE

Centre collaborates with think tank to push production of EV batteries in India

The Story:

The Centre's Department of Science and Technology (DST) and green think tank Centre for Science and Environment (CSE) have collaborated to create a platform that will support the development of new electric vehicle (EV) batteries to suit Indian requirements. A white paper will be prepared on a roadmap to develop new battery technologies in India. This would be followed by creating an expert-industry forum or platform to support this process, the CSE said in a statement on Tuesday.

This collaborative initiative was kicked off recently with a round table on locally appropriate EV batteries that are safe, durable, and effective within the constraints of a hot and humid tropical climate.

As part of the National Electric Mobility Mission Plan (NEMMP) 2020, the Department of Heavy Industry formulated a scheme -- Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) in 2015 to promote the manufacturing of electric and hybrid vehicle technology and to ensure its sustainable growth.

TECH

Gaza Youth seek escape from reality using VR

The Story

Young people who have grown up with the blockade are being offered a dream world of action, music, and sports by the owner of Gaza's first virtual reality gaming cafe. The lengthy border barrier imposed by Israel and Egypt prevents most people from traveling, therefore the online world serves as a source of amusement and distraction for young people. According to Al-Khodary, the owner of VR cafe, virtual action and combat games are the most popular among young men, while young women tend to favour sports, music and travel.

Nisreen Shamalakh, 16, put on her headset and stated, "Since we are blockaded and it is impossible to travel and move from one area to another, we come to VR and make up for all these things and we live it in the virtual reality.

Want a BIT More?

How to release the pension tension

For states switching to the previous pension system, the Pension Fund Regulatory and Development Authority (PFRDA) has done a good job of removing any confusion regarding the legal features of the National Pension System (NPS). The regulator has ruled that transfers of employee savings under the NPS to state governments are prohibited by the PFRDA Act. The NPS, which oversees the pensions of government officials hired in or after 2004, was created to reduce the financial burden of pensions on the GoI.

Pension funds purchase the securities in the name of the trustees and on their behalf. The beneficial owner of the securities, assets, and funds, however, continues to be the specific NPS subscriber. To put it simply, the employer is no longer involved.

To guarantee returns, states like Rajasthan, Chhattisgarh, Jharkhand, and Punjab have returned to the previous pension plan. Their resources are limited. In 2020–21, Rajasthan's pension costs increased by almost 15 times, depleting 28% of its own tax income, up from 19% in 2004–2005.