⚠️ Earthquake Alert
and business updates
The week’s already buzzing, and we’re here to keep that energy going! So, like every other day we are back with one breaking news and some business updates.
🚨 Did you feel the tremors?
A series of six earthquakes, including a massive 7.1 magnitude quake, struck the Tibet region on Tuesday morning, leaving at least 53 dead and 38 injured. The tremors extended beyond China, affecting parts of India, Nepal, and Bhutan.
Impact on India:
Tremors were felt in Bihar, including cities like Patna, Muzaffarpur, Samastipur, Purnia, Bhagalpur, and Munger, prompting concern but no reports of significant damage.Regional Effects:
Kathmandu experienced strong jolts at 6:50 am, while the quake's epicenter, located near the India-Eurasia tectonic plate clash zone, was responsible for widespread seismic activity across the Himalayan region.
Now, let’s get started with the BUSINESS UPDATES…
📌 Zomato shares fall 5%
It dropped to ₹252.05 after Jefferies downgraded the stock from "buy" to "hold," reducing its target price by 18% to ₹275. The brokerage expressed concerns over intense competition in quick commerce, particularly from rivals like Swiggy's Instamart, Zepto, and Amazon, which could impact Zomato's Blinkit profitability.
Despite these challenges, Zomato has had a strong year, delivering 130% returns and recently joining the Sensex. Its Q2 earnings showed impressive growth, with a 389% surge in net profit to ₹176 crore and a 69% YoY increase in revenue to ₹4,799 crore. Jefferies expects 2025 to be a year of consolidation following the stock's 2024 rally.
📌 Amit Shah launches Bharatpol
Home Minister Amit Shah launched Bharatpol, a Central Bureau of Investigation (CBI) initiative to enhance coordination among law enforcement agencies across India. Bharatpol streamlines criminal investigations and facilitates national police assistance. It also enables all Indian police agencies and states to connect with Interpol, improving international collaboration and crime control efforts.
📌 Flipkart cofounder may sell $100 million investment in Ola
Sachin Bansal is exploring the sale of his $100 million stake in Ola, a move tied to his focus on building his fintech venture, Navi. Bansal seeks a premium valuation of $4 billion, up from Ola’s estimated $3 billion valuation when he initially invested in 2019. The sale could attract investors eyeing Ola's planned IPO, though valuation remains a critical factor in negotiations.
📌 10 investments that might help save tax
1. ELSS Funds (Equity Linked Savings Scheme)
Returns (5 years): ~19.39%
Lock-in Period: 3 years (shortest among tax-saving options).
2. National Pension System (NPS)
Returns (5 years): 7.5-16.9%
Lock-in Period: Till retirement.
3. Retirement Mutual Funds
Returns (5 years): 9-19%
Lock-in Period: 5 years.
4. ULIPs (Unit Linked Insurance Plans)
Returns (5 years): 7-18%
Lock-in Period: 5 years.
5. Sukanya Samriddhi Yojana
Returns (Q1 2025): 8.2%
Lock-in Period: Till the child turns 18.
6. Pension Plans from Insurance Companies
Returns (5 years): 7-16%
Lock-in Period: Till retirement.
7. Senior Citizens' Savings Scheme (SCSS)
Returns (Q1 2025): 8.2%
Lock-in Period: 5 years.
8. Public Provident Fund (PPF)
Returns (Q1 2024): 7.1%
Lock-in Period: 15 years.
9. Tax-saving Fixed Deposits
Returns: ~6-7% (varies by bank).
Lock-in Period: 5 years.
10. National Savings Certificate (NSC)
Returns (Q1 2025): 7.7%
Lock-in Period: 5 years.
STARTUP NEWS
📌 upGrad cofounder launches talent mobility startup ‘BorderPlus’
Mayank Kumar, cofounder and former leader at edtech unicorn upGrad, has unveiled his new venture, BorderPlus, which focuses on connecting skilled Indian professionals with global job opportunities, starting with nursing roles in Germany.
The startup facilitates obtaining conditional offer letters and visa formalities for Indian healthcare professionals. Applicants must have a nursing degree and B1/B2 proficiency in German. BorderPlus plans to expand into tech opportunities globally in the future.
Kumar has reportedly partnered with Ayush Mathur, OYO’s ex-president of European operations, though no official confirmation of Mathur’s role is present on BorderPlus' website or his social media profiles.
⚠️ HOLD ON
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So, that’s it from me today!
See ya 👋
