The Signal - Zomato’s burden of loyalty
Zomato’s burden of loyaltyAlso in today’s edition: Adani turns the wheel of Fortune; Indian telly in shark-infested waters; AI for conflict resolution?; Toyota vs. TeslaGood morning! If you think that it’s just our boys wreaking havoc on the playground, think again. The Bridge reports that the Indian women’s rugby team finished runners-up at the Asia Rugby Sevens Trophy. The team had a prolific run throughout the competition and lost only to the eventual winners, UAE. This is the third silver medal in three years for the women's team, and they’ve now secured second place in the world rankings. Super proud! ♥️ 🎧 Bank Of Baroda’s goose is cooked. Also in today’s edition: doffing our hats to the Indian women’s rugby team. Listen to The Signal Daily on Spotify, Apple Podcasts, Amazon Music, Google Podcasts, or wherever you get your podcasts. Soumya Gupta, Jaideep Vaidya, and Adarsh Singh also contributed to today’s edition. We would like to know more about you. Participate in our annual survey by filling up this form. We’ll use your answers to tweak our products and make them more enjoyable for you. As always: you will remain anonymous. The Market SignalStocks & Economy: Optimism at the beginning of the week that the US Fed was done with rate hikes was short-lived as investors were gripped again by doubt. Shares across Asia fell in morning trade. Stock gains in Korea after a short-selling ban lasted only a day. Early GIFT Nifty movement indicated a weak opening for Indian shares as well. India is back as the second ranked emerging market on the MSCI Index. It had slipped below Taiwan after the January Hindenburg Research report took the wind out of Adani Group stocks. Seven new stocks were included in the index after a review in August, and another nine are expected to be added after the next monthly review. Morgan Stanely has said that oil prices above $110 per barrel could destabilise India’s economy, widening the current account deficit beyond 2.5% of GDP and forcing RBI to raise interest rates. CORPORATEAdani To Sell A Foundation StoneThe Adani Group is looking for buyers for its ownership stake in a business that was foundational to founder Gautam Adani’s business empire. A report in The Economic Times, quoting unnamed company executives, said that Adani will sell off its 43.97% stake in Adani Wilmar (AWL), its 24-year-old food products joint venture with Singapore-based Wilmar International. Just about a year ago, AWL was setting up Fortune Mart retail stores across India and acquiring brands after it went public in February 2022. It was even seen as an emerging rival to Reliance Industries’ supermarket chain. AWL shares have been on a steady decline after peaking at ₹809 (~$10) in September 2022 and are now trading way below their debut-day closing price of ₹381. AWL’s mainstay edible oils business is becoming increasingly tricky, with the international agri commodities trade fraught with conflict, climate change, and regulatory risks. ENTERTAINMENT
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Saudis are coming for IPL
Monday, November 6, 2023
Also in today's edition: BYJU'S gets a minus D; Sony's had enough of Punit; No India in this list; Look who's still developing
Will Gaza jeopardise India's energy resilience?
Saturday, November 4, 2023
India relies heavily on oil from the Middle East. The Israel-Hamas conflict could put that at risk.
AI will write saas-bahu serials now
Friday, November 3, 2023
Also in today's edition: Indian food becomes more unsafe; Foxconn's EV strategy; Egypt isn't ready for this exodus; Apple's muted quarter
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Thursday, November 2, 2023
Also in today's edition: Darn that yarn; India's Lankan loss; Gill goes fishin'; Horror is a delight
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Wednesday, November 1, 2023
Also in today's edition: Will Jio price Airtel out?; Iran tests Saudi Arabia; X's value has a great fall; The race to snap up footy's underdogs
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