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Chart Ki Baat
Bazaar Ki Baat
India Inc. Q1FY24 performance decoded
In the 11th edition of “Bazaar ki baat”, we discuss what moved the market in August, sectoral performance, a review of Q1FY24 earnings, and the significance of the rule of 72 in personal finance.
Here’s the list of curated readings for you this week:
- India’s Richest 2023 list – This year’s roster of India’s dollar billionaires is a reaffirmation that the growth story is not ephemeral but perpetual. Mumbai and Delhi together account for ₹41.56 lakh crore (60%) of the Fortune India-Waterfield Advisors listing, followed by Bengaluru, Chennai and Ahmedabad. Interestingly, there are 18 smaller towns and cities that have a dollar billionaire each. Read here
- What Is UPI ATM? Card-less Cash Withdrawal ATM Unveiled At Global Fintech Fest – The UPI-only ATM significantly enhances customer security by eliminating the need for physical cards. Read here.
- God’s Own Wealth – In a rare instance, the Tirumala Tirupati Devasthanams (TTD), which runs the temple of Lord Venkateswara at Tirumala (an incarnation of Supreme God Maha Vishnu), disclosed assets in November last year — around ₹2.5 lakh crore in cash and gold deposits in banks, donations from devotees and land and buildings. Read here
- Sebi keen to introduce fractional ownership in India – The concept is already permitted in the US and many Indian investors have bought fractional shares of popular companies like Apple, Meta and Alphabet Read here.
- Decoding the SEBI consultation paper on regulating financial influencers – Zerodha – If somebody really knows how to make money, why will they share it with somebody else? it’s logic 101. By definition, almost all of them are either snake oil salesmen or they’re just outright frauds. Read here.
- Uday Kotak resigns as Kotak bank MD and CEO 4 months ahead of end of tenure. Pens a heartfelt letter to board. Full text here.
- Foreigners snap up India stocks while fleeing most EMs in August – Indian equities stood out in August as foreign investors sold stocks in almost every other Asian emerging market, thanks to the nation’s strong corporate earnings performance and its growing appeal as an alternative to China. Read here
- Falling WPI, easing goods CPI and corporate margins – The sustained fall in Wholesale Price inflation in the last few months has resulted in gross margin improvements across corporates. Read here.
- Car makers eye best-ever festival season with record dispatches – Festival season, which traditionally starts with Onam in Kerala and runs till Diwali, accounts for around 25% of the annual passenger vehicle sales in the country. Read here.
- IMD’s rainfall forecast for Sep 2023 implies below normal monsoon at the end of the season – Rainfall was deficient at 64% of LPA in Aug 2023, , sharply weaker than the IMD’s projection of below normal rainfall (<94% of LPA). Watch here.
- Social welfare spend of states to hit a decadal high this fiscal – Spending on social welfare schemes by the top 11 Indian states1 – accounting for 75-80% of aggregate gross state domestic product (GSDP) – is expected to reach a decadal high of over 1.7% of GSDP, or ~Rs 4 lakh crore, according to the budget estimates (BE) of these states for fiscal 2024. Read here.
Check out CAGRwealth smallcase portfolios here.
That’s it from our side. Have a great weekend ahead!
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