👀 The Week At A Glance
This week we delved deep into some interesting business updates, a major RBI decision, and the power of shareholders!
Hey there, good morning 👋🏻
Festivities are just around the corner. And you must be running really really busy, no? Don’t worry. We have a quick summary for you to stay updated.
🤔 Why is the RBI after NBFCs?
The RBI announced new and stricter rules for Non-Banking Financial Companies. Why? Because they can pose a risk to the entire economy. So far, these companies were doing as they pleased and often getting into trouble. But the RBI has finally decided that enough is enough! Here’s what RBI is planning to do.
🥤The Epic Battle Between Thums Up and Coca-Cola
Back in the 90s, both Thums Up and Coca-Cola were engaged in an epic battle to win over customers' hearts and the market share. But the battle wasn't fair, as they rarely are. If you don't already know who won the fight, do check out our story!
✊🏻 Eicher Motors' Shareholders Managed to Show They Have the Power
Eicher Motors' shareholders refused to reappoint the man who was responsible for turning the company around. Why? Money and a sense of justice. They simply couldn't justify the raise the company was giving to its MD. So, did the company listen to them? Yes, because it is ultimately the shareholders who have the power! Here’s how the drama unfolded at Eicher Motors.
🎨 Why are Paint Companies increasing Prices by never seen before Rates?
This week we learned how Covid shook up our lives in ways that we couldn’t even anticipate. Paint industry was one such victim. Here’s why it will get more expensive for you to paint your house after this Diwali!
👶🏻 Dabur is Entering the Diaper Business?
Yes, the maker of Hajmola is now going to sell diapers as well. Seems appropriate? But the diaper business is not everybody's cup of tea. Many others have entered this space only to retreat in defeat. So, can Dabur make it? Let’s see!
🏗️ The Amazon of Infrastructure!
In the construction space, sourcing of raw materials is an expensive and time-consuming affair. So, a startup decided to create a platform, where small contractors could place orders for supplies just like how we order stuff from Amazon. Seems like a great idea, right? But will it be good for small companies in the long run? Here’s all you need to know about this company!
📉 The Crazy Swing in IRCTC Stocks Explained!
The award for this week's meme stock goes to *drumrolls* IRCTC! The stock saw some wild swings this week. Due to a controversial government announcement, the company's stocks plummeted. But the government soon took a U-turn. Here’s what happened!
📰 Here’s What Else Made the News and Moved Markets:
👉 Tesla joined the $1 trillion market cap club, making CEO Elon Musk the richest person on the planet. He is now worth a whopping $288.6 billion!
👉 Remember Zomato’s IPO? Well, it had no option but to go public, according to its CEO. Because of the government’s new FDI regulations, it couldn’t raise money from its Chinese investors. So, it turned to the Indian public.
👉 The Adani Group, which owns several airports, will acquire a stake in Cleartrip. The acquisition is part of Adani Group’s plan to create India’s next super app!
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With love,
Team ReadOn ❤️
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