Bullets

Ola is on fire! And finally, in a good way!

The Indian EV market saw a month-on-month increase of 23% to reach 1,14,001 vehicle registrations in October. Registrations for September stood at 92,833 units. The growth is truly monumental, as the entire 2020-21 year saw total sales of 1,33,000 units.

Two-wheelers occupied the majority of sales for October, with 75,294 units making up 66% of the month's total sales. Ola, with over 16,000 units sold, led this segment.👏

November's here, which means we get a new currency. That's the trend, right?

If not, it will soon become one following the release of India's CBDC, named Digital Rupee. Digital Rupee will release in a pilot plan where wholesale users will test the currency first for a month. Retail tests begin shortly.

SBI, BoB, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC will participate in this phase for settlements.

Future Group is just a gold mine of news! Bad news, of course, but that's a different story. Future Entreprises Limited (FEL) has defaulted in the repayment of ₹126.13 crore in principal amount to various lenders for the month of September. This default consists of ₹98.35 crore in Non Convertible Debentures and ₹27.78 crore that is owed to banks.

Another takeover means that FEL loses its real estate business and investments in various subsidiaries like insurance, textile, supply chain, etc.💸

Elon Musk, in his public address after the Twitter acquisition, made clear that irrelevant ads were "spam" and more relevant ones were "content". With such a focus on advertising, one mustn't forget that the social media acquisition makes it more of the billionaire's ad playground.

Don't believe me? Look at the numbers. The SpaceX founder's favourite meme cryptocurrency, Dogecoin, experienced a 41% hike, with Elon gaining traction on social media.

Crypto being crypto, the prices have started to fall already.

After seesaw-ing for the longer part of the year, Elon Musk is going through with his $44 billion Twitter purchase. After the acquisition, Musk posted a message on the platform stating that his motive behind the purchase was "to try to help humanity", which he "loves".

Post-takeover, his first move was to fire the CEO, among other executives. So much for "helping humanity".

Musk also promised to improve advertisements, making the platform more welcoming, among other things.👀

The CCI has finally approved the Zee-Sony merger after Zee agreed to sell three of its minor channels, Big Magic, Zee Action and Zee Classic. CCI opposed the merger before as it would have an "appreciable adverse effect on competition" (AAEC). The merger will result in the formation of a $10 billion TV enterprise with over 92 channels.

So, to avoid the merger gaining monopoly, they had to get rid of three irrelevant, possibly dead-weight of channels. That makes sense.🤷‍♂️

Infosys seems keen on opposing Wipro's stoic stance on moonlighting. Changing its tone from the "No two-timing, no moonlighting" message to its employees, Infosys is taking a more relaxed approach to the whole situation.

The only condition, a somewhat obvious one, is that employees refrain from associating with competing organisations and moonlight on their "personal time".

Following the flak that Wipro's chief received, Tata's need to people-please might get it in trouble.

The Competition Commission of India has charged Google with a ₹1,337 crore fine for anti-competitive practices in reference to the Android software ecosystem. The allegations behind this fine include the forced installation of its Google Mobile Suite on phones as well as establishing one-sided contracts that made Google's apps the default preference. These cumulative charges comprise its "abuse of dominant position".

Google was supposed to get rid of the bloatware in its devices, not make its apps the bloatware.

Amazon's Great Indian Festival turned has turned out to be its biggest event yet in terms of units sold and value. The e-commerce giant has released its stats, and the numbers look good, not just for Mr Bezos but also for the sellers!

Amazon reported over 650 sellers becoming crorepatis, and 23,000 sellers becoming lakhpatis. What's better, over 70% of these sellers came from Tier-2 and Tier-3 cities.🤑

Seems Amazon is finally becoming India's Apni Dukaan.🤗

Adani's acquisition of NDTV might face hiccups as SEBI raises an appeal against SAT's order that authorized the deal. The NDTV takeover comes as a result of VCPL's loan from the Adani Group that it couldn't repay. The root cause of the trouble is the 10-year, interest-free loan that VCPL took from Adani Group, pledging its 29% stake in NDTV.

SAT's approval of the deal did not sit well with SEBI causing the whole deal to get tangled in litigation.👩🏿‍⚖️

Amul and Mother Dairy have announced another price hike of ₹2 per litre. The current hike was the third this year after March and August each saw increments of ₹2. With the approach of Diwali, this price increase will naturally see a rise in the price of sweets and other dairy-based products. The input cost of fodder going up is responsible for this raise, based on a Mother Dairy spokesperson's information to PTI.

Mehngaai won't keep me off the Mithai!😂

Vodafone seems to be losing its connection, as it faces a reduction in headcounts on two fronts; subscribers and employees. Vodafone Idea's spending on employees has fallen from ₹2,030 crore to ₹1,735 crore, even though the median salary for its employees has gone up 8.1%. This lopsided change results from a 35% fall in permanent employees over the last 4 years.

While Vodafone Idea suffers on these fronts, Bharti Airtel seems to be the choice as people switch.

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.⚖