Good Vibes Only

Going Global

India is joining the global bond index as early as February next year! Inclusion in the index will have a huge impact on our economy, equities, debt, and currency. ✌

Upon index inclusion, India is estimated to attract $40 billion in foreign investments over the next two years, according to Morgan Stanley. Global bond managers will have to purchase Indian government bonds because India will now be in the benchmark index. Don’t forget guys, the global bond market is way bigger than the global equity markets. This will strengthen the country’s finances and stimulate growth, experts say. Large banks and NBFCs are the big winners here. 💸

India has been working hard on entering the global bond indices for a while now. But, a wide budget deficit, high inflation, and weaker Indian rupee have kept foreign investors away. 🏃‍♂️ In fact, India is the only emerging market (EM) that is still not a part of the global bond index. 

Good vibes only. 😇

Brake Fail?

Ola’s electric scooter launch has been delayed by a week due to technical glitches! Not the kind of news you want to hear on #WorldEVDay. 😓

Its e-scooter sales will now start from September 15. To be clear, there are no supply issues with the scooters. The company’s e-commerce site was the main culprit. 👨‍💻

Bhavish Aggarwal, Founder, and CEO, Ola Electric said:
We’ve built a completely digital purchase journey, including a fully digital loan process without any paperwork. We wanted to provide this first of its kind digital purchase journey and today we haven’t been able to. Getting you the right experience will take us another week. Our delivery dates remain unchanged. 

India is the world’s largest two-wheeler market. 🛵  But, EVs constitute just 1% of total two-wheeler sales. There are two main reasons: high cost and lack of charging infrastructure. Government support, economies of scale, and R&D will reduce production costs over time. Proprietary charging networks and tie-ups like the Jio-BP and Lodha-Tata Power should help address the charging issues. 🔋

The future of transport is electric and it pays to be the first mover. All the best Ola! 👍

Advance Cash

Byju’s is gearing up to launch its IPO in Q1 next year! Details are scarce, but reports indicate the firm wants to take things up a notch after its latest fundraise. 💰

The Bengaluru-based startup is currently in talks to raise $400-600 million dollars. Post closing this round, the company plans to up its IPO valuation to $40-50 billion! 🤯 Congrats to those who get to invest in this round! 

Byju’s loves to rip out the cheque book whenever an opportunity arises. The company made its 8th acquisition of the year with online test preparation platform, Gradeup. This has also been the main driver of growth for Byju’s. In 2020, the company’s revenue more than doubled to Rs 2,381 cr. But, losses widened from 7% to 11% of revenue at Rs 262 cr. 📊

The excitement levels for its IPO are sure to be high. Let’s see how this goes. 👀

Movers and Shakers

Here’s a look at this week’s top movers. Dish TV took the pole position after rallying +36%. 🥇 Caplin Point Laboratories (+26%) posted its highest weekly gain since August 2020. ICICI Securities (-6%) had its worst week since Jan 25. 📉 Apollo Hospital (-6%) snapped its three-week gaining streak. Check out their charts below: