Bullets

As the government aims to increase the proportion of ethanol blended into petrol to 20%, it is faced with a new problem; transportation. Currently, the 1,016 crore litres of ethanol must be transported via roadways, which would require around 3.5 lakh trucks.

These increased requirements would cause an increment in costs for the vehicles as well as an increased environmental burden of 76 million tonnes of greenhouse gasses.😷

So the government is having "gas issues" due to "booze"... Relatable much?😂

If a company sold you its entire operations in a country for just ₹79.86, you'd think they're joking. In that case, Nissan is one hilarious company as it's selling off its operation to Russia's state-owned entity, NAMI, for just €1. This $687 million loss-making handover deal contains a clause that allows Nissan to buy back the company within 6 years.

No, this handover is not a sign of Nissan boycotting the war, just an attempt to avoid supply chain issues.

The Rupee is projected to hit severe lows of ₹84 - 85 by March 2023, as Indian Foreign Reserves fall by 16% from $633.6 billion to $532.66 billion since the start of this year.

Indian experts blame US Federal Reserve and their rising interest rates for this deficit in foreign reserves. Jamie Dimon, CEO of JP Morgan Chase, played an Uno reverse card and blamed growing interest rates in other economies (India included), for the oncoming recession threat.🔃

Beating market expectations, TCS generated 18% greater YOY revenue of ₹55,309 crore, and net profit climbed by 8.4% to ₹10,431 crore. As a result of this growth, TCS shares experienced a leap to ₹3,145 today, in contrast to the 18% fall in share prices so far this year.

Meanwhile, Infosys faces legal trouble overseas over alleged age, gender and nationality-based bias.👨‍⚖️

Tata Group seems to be the only family with an elder sibling that's not the black sheep.😂

Employees of BSNL are demanding a revision in their pay scale and benefits, despite the company's failure to perform the requisites set for it as per the ₹1.64 trillion revival program by the Government.

BSNL's losses for FY22 amounted to ₹6,982 crore creating a need for this revival. The cause of this loss? Inactivity in the 4G space while the country enters the 5G age. With operations this slow, BSNL is like the Internet Explorer of the Telecom Industry.🤣

15% of Meta's current workforce, around 12,000 employees, are looking at upcoming unemployment on the grounds of "underperformance". Based on reports from employees, these layoffs will be "quiet" and administered by senior executives on the aforementioned grounds.

Employees were also reported saying that while the laid-off employees look like they're "moving on", in reality, they're being "forced out".

Maybe all the hush-hush around the phenomenon is an attempt to make sure Meta's stock (Zuck's Bucks) don't fall anymore!📉

Recording its first EBITDA positive quarter at ₹10.57 crore for April-June FY23, the hospitality company's shares increased to ₹94 in the private markets.

IPO-bound OYO cannot seem to catch a break, however, as the share prices have fallen to ₹81 recently, and the reason will shock you. OYO's biggest investor, SoftBank, has reduced OYO's valuation by 20% in its books, making the organisation reach a value of around $6.5 billion in the private markets.📉

Talk about a vote of non-confidence!😯

It's a Blue Bird! It's a rocket ship! It's... both of those fighting in virtual space? Billionaire meme-ster Elon Musk may have bitten more than he can chew with the Twitter acquisition. Tesla shares crashed by 3%, while Twitter soared by 5.66% as Musk's teetered back to buying Twitter.

The change of heart is an attempt to cover up the legal troubles that are a week away, as Twitter's launched a lawsuit against Musk for getting cold feet previously.⚖

The IPO proceeds of Birla Pacific Medspa (BPML) were ₹65.17 crore. These noble people, they stated in the prospectus that the funds would be utilised in setting up of 55 'Evolve' healthcare clinics across India. But, there was a hiccup in the plan, we hear?😟

Ten entities, including Abhijit Desai, PVR Murthy, Yashovardhan Birla, and more, were penalised by the SEBI for siphoning off ₹34.91 crore of those funds. Talk about the disparity between projected and actual utilisation of funds much?🤌

Here’s a bonus, you might want to read the actual reason behind why most companies want to be listed these days. 
 

As of today, Meta shares have fallen ~60% this year, eroding ~$71 billion of Mark Zuckerberg's wealth. As a result, for the first time in its 18 years, Meta is looking to freeze hiring and possibly downsize.

Citing unstable markets, the CEO said on Thursday that the company would be "somewhat smaller" by 2023. Sure, blame unstable markets, not the platform that manufactures unhealthy mentalities and sells user data.🤦‍♂️

The "Metaverse Hype Train" really went off the rails, it seems.☠

The Indian economy seemed safe from the oncoming global recession until recently, are things about to change? RBI Monetary Policy Committee has decided to increase the Repo rate by 50 basis points, reaching 5.9%. The Repo rate was previously hiked by 50 basis points in August from 4.9%📈📈📈

While the move seems like a precautionary measure against the relative fall of the Rupee against global currencies, haphazard rate hikes expose the economy to the threat of recession.☠

As the US attempts to curb inflationary pressure by increasing interest rates, the Dollar bloats in value, making the Rupee look weaker. So the news of "Rupee touching an all-time low of ₹80+" is actually "Rupee stays put, Dollar blows up".

Other western countries like UK following suit to preserve their currency value expose the world to a threat of global recession.📉

Rupee must feel like SRK from K3G (main thehra raha, zameen chalne lagi)💸

"The enemy of my enemy is my friend" seems to be the idea driving the banking partnership between India and Russia. While no love was lost between US and India, the former's sanctioning of F-16 jets for Pakistan did not sit well with the Indian government.🙅‍♂️

As per the partnership, UCO & Yes Banks will collaborate with Russia's Gazprom and Petersburg Social Commercial Banks. The arrangement will allow the two countries to conduct bilateral business using their local currencies.🤑

SEBI is looking to establish a fund-blocking system similar to ASBA. Under this new method, money spent by investors/traders would not leave their bank accounts unless the trade is complete, leaving no funds in the brokers' ledgers.

Non-bank-based brokers would no longer have access to float money available in their ledgers for up to 90 days. Bank-based brokers already have a similar system in place.

Based on their development, honestly, why not just get rid of brokers altogether?🤷‍♂️

Supermarket Grocery's Bigbasket is looking to raise upwards of $200 million from Tata Digital and other shareholders. The Tata Digital grocery arm is expected to be valued at $3.5 billion.

With the share lock-in period ending on September 30th 2023, Bigbasket is also looking to bring an IPO by the end of FY23. Tata Group seems to be banking heavily on Bigbasket, looking to fill the crater left in the retail ecosystem by BigBazaar's collapse, competing with Reliance's Retail business.😏

In an attempt to step away from the British-era jurisdiction, DoT has created the draft Indian Telecommunication Bill, 2022. Under the proposed bill, social media platforms and OTT platforms shall be included in the purview of "telecommunication services", allowing monitoring of the same.👁

The platforms claimed this change would deter innovation (innovation=malpractice); the general public's stance was more alarmist towards their privacy. With the youth oversharing on the internet, however, I thought they would welcome the invasion of "privacy"!🤣

Who to hold accountable when a brand like Mahindra & Mahindra errs, and it cannot be reversed? M&M’s ‘recovery’ agent, who was in the process of taking possession, ran over a 27-year-old pregnant woman, causing her death. So much for “Rise. Live Young. Live Free”!😐

The big bank, RBI, has gotten into action right away and has barred M&M Financial Services from outsourcing its loan recovery or repossession activity after the incident. Guess what happened next? Its stock plunged 10%. 📉🤷‍♀️

When well-established companies follow the same tactics as newbie startups, the end times are near. However, Wipro firing 300 of its employees seems justified. The IT giant emptied its payroll, owing to discovering these employees secretively associating with a rival company. "Jis motherboard pe code kiya, usi main chhed?!"😲

Rishad Premji, Wipro chairman called this practice of moonlighting "Cheating, plain and simple." Honestly, this one firing seems pretty well suited, considering the ongoing startup winter and lay-off storms.🥶

Nykaa founder Falguni Nayar has become India's richest woman reaching a net worth of ₹30,000 crore. Her net worth experienced an increase of 345% to reach this monumental amount; all of this as a self-made entrepreneur too!

Seeing a woman reach, and shatter this "richest in geographical region" ceiling is a breath of fresh air after hearing oh so often about "Mr X-ani vs Mr X-ezos" only. I wonder when female entrepreneurs will become commonplace million/billionaires?

The family that takes over together, stays together! Gautam Adani is looking to join the board of directors of India's oldest cement companies, ACC and Ambuja. This move will be a part of Adani Group's ₹83 thousand crore acquisition of Holcim's assets.💸

The reshuffle will include previous members stepping down and Gautam's son and nephew, Karan and Pranav, joining the board of directors. Hurray for family businesses! Karan and Pranav won't have to break any Ambuja walls.💥🧱