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Nov 25 2020 . ISSUE 15
THE DAILY NEWSLETTER

Good morning will be a mild word. Market is already on a peak and Dow jones has just hit the 30k mark 🙀 Are we living a dream?


The most important quality for an investor is temperament, not intellect.


- Warren Buffett


GAINERS & LOSERS

NIFTY

13,055.15

+ 128.70

SENSEX

44,523.02

+ 445.87

CRUDE OIL

3,333.00

+ 138.00

GOLD

48,618.00

- 862.00

HOT STOCKS IN NEWS

Union Bank of India proposes to raise ₹1,000 crores from bonds.

Thomas Cook India launches India's first Virtual Holiday Store.

DAILY FLICKS
Google Joins The Jio Bandwagon.
Documents in a folder with Trump Organization insignia

Reliance Jio has once again roped in another huge investor, this time Google, as they fortify their already illustrious portfolio. 


Google 🤝 Reliance 


Google has marked their biggest ever investment in an Indian company after paying ₹33,737 crore to Reliance Jio Platforms Ltd for acquiring a share worth 7.73%. They join the list of global investors such as Facebook to have infused capital in the Mukesh Ambani-led company. 


The gargantuan amount raised by selling nearly 33% of the Jio's stake to many financial and strategic investors has helped RIL erase its net debt way ahead of March 2021. 


Plans in motion  


The two parties will collaborate in rolling out an affordable entry level smartphone in the Indian market. Google's tech coupled with Jio's strong telecom presence in the market will help push the project to the public. 


Bottom line: The Google-Jio deal will help both Jio & Google to Dominate the emerging digitisation market in India. 

RBI rejects Muthoot's Acquisition Proposal
walmart shopping

The Reserve Bank of India has rejected Kerala-based Muthoot Finance's proposal to acquire IDBI AMC. 


The Reason 


The RBI has stated that activity of sponsoring a mutual fund or owning an AMC doesn't go with agreement of operating an NBFC.


Details of the Deal 


Muthoot Finance Limited (MFIN) had signed a share purchase agreement to  acquire IDBI Asset Management Limited and IDBI MF Trustee Company Limited in November 2019, for a fee of around Rs 215 crore. Through this acquisition MFIN was planning to enter the Mutual Fund Asset Management space.  


India Bans Chinese Apps. Again.
walmart shopping

Well, not a bad hobby to have - banning Chinese apps every 3-4 months. 


Yes, the Govt of India has gone all-out again and done it again !


Totally Out of the Blue 


The Government has blocked access to 43 more Chinese apps, including an array of  Alibaba-owned apps and tencent backed app snack video, for being prejudicial to the sovereignty, integrity and defence of the nation. 


The sheer unexpectedness of the move is sure to have caught the Chinese off guard. After banning almost close to 200 Chinese apps this year, China might've never seen this coming. 


Chinese apps everywhere


On another note tho, how many Chinese apps are there?? It seems like the government finds a batch of new ones every three months and indeed, boost Atmanirbhar Bharath!


Bottom Line: Let's go Atmanirbhar!


OTHER FLICKS
  • N. Chandrasekaran appointed as chairman of the board of Tata Chemicals. He also chairs the boards of several group operating companies like TATA STEEL, TATA MOTORS, TATA POWER.
  • Trai fines Jio, Airtel, BSNL in Paytm vs telcos phishing case.
  • NITI Aayog panel to study the feasibility of hyperloop travel in India.
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