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India On The Moon

Good Evening,

India's gross domestic product (GDP) for the first quarter, i-e the April-June quarter of the ongoing financial year accelerated to 7.8 percent, showed data shared by the Ministry of Statistics and Programme Implementation on Thursday. The equity market ended higher on the first day of September led by Energy and Metals. Earnings stay UBS had a ‘historic’ $28.8B Q2 profit thanks to its Credit Suisse acquisition, and China is trying to boost its economy and currency.

Let's dive in.


  • Gold falls Rs 100; silver plunges Rs 400

  • Sensex rallies 556 pts; Nifty above 19,400; BHEL soars 11%, Maruti Suzuki 3%

  • Indian bond yields rise after debt auction, end week lower

  • Suzlon Energy is among the top 10 smallcap stocks that soared up to 45% in August

  • Most Adani group stocks end higher; mcap rises over Rs 13,500 crore

  • Eurozone bonds seek direction as markets scale back ECB hike bets

  • S&P 500, Nasdaq fall as jobs data boost fades; streaming firms weigh

  • Oil driven higher by tight supply expectations

  • BSE: Co increases buyback offer price from 816 rupees to 1080 rupees per share



  • Q1 results point at strong earnings growth outlook for FY24: HSBC

  • Adani group EBITDA grows 42% YoY in Q1, net profit surges 70%

  • Indel Money Q1 Results: Profit jumps 63% QoQ to Rs 21 crore

  • Bajaj Auto: August total sales 3,41,648 units vs. est: 3,32,000

  • M&M: August auto total sales 70,350 units vs. est: 65,000

  • Atul auto: August total sales 2,610 units vs. 1,950 UNITS (YOY)

  • NMDC: cos production of iron ore in August 3.41MT VS 2.48MT(YOY) || cos sales of iron ore in August 3.54MT VS 2.83MT(YOY)

  • Maruti Suzuki: Total sales: 189000 VS ESTIMATE OF 184000 units

  • Tata Motors: August total sales 78,010 units vs. est: 81,400 units

  • Coal India sales grew by 15% YOY

  • TVS MOTORS: August total sales 3,45,848 units vs. est: 3,33,250 units

Headline Roundup:

  • India GDP Quarterly (YOY) (Q1) Actual: 7.8% VS 6.1% Previous; EST 7.8%

  • India June Farm sector growth at +3.5% (YOY) || India's June Qtr Manufacturing Growth sector at +4.7% (YOY) - GOVT

  • India Weather Official: India could receive average rainfall between June-September

  • India Infrastructure output: (YOY) (JUL) Actual: 8.0% VS 8.2% Previous

  • Reliance: Co unit in talks with investors to RAISE $2.5B by September 30

  • Mumbai records decadal best as the city registers over 10,550 PROPERTIES, registering a 23% jump in stamp duty of INR 790 CRS: KNIGHT FRANK

  • Govt to tap districts for enhancing exports: DGFT

  • Govt launches GST reward scheme in 6 states, UTs; Rs 30 crore corpus for prize money

  • India's GST collections up 11 per cent in August

  • India's manufacturing activity at 3-mth high in August, cost inflation at a 1-yr high

  • Nomura raises India's FY24 GDP growth forecast to 5.9%

  • India makes sweeping changes in ministries from aviation and telecom to parliamentary affairs

  • Growth prospects remain solid for next year, says CEA

  • Core sector growth eases marginally to 8% in July

  • Indo-US task force set up to elevate electronics trade to $100 bln in next decade

  • India's April-July fiscal deficit at Rs 6.06 lakh crore, widens on-year to 33.9% of FY24 aim


Deal Flow:

- M&A / Investments:

  • Kylie Jenner explored buying back a 51% stake in Kylie Cosmetics she sold to beauty company Coty for $600M in 2020

  • McLaren Applied’s e-mobility unit agreed to acquire bankrupt Dutch e-bike maker VanMoof

  • ABFRL: Co says completed acquisition of 29% stake in TCNS clothing

  • Nazara Tech: Zerodha founder Nikhil Kamath To buy about 3.5% stake in co

  • Temasek-backed UST takes over MobileComm

  • Malaysia's IHH to buy out remaining stake in Global Hospitals

  • Subway sold to US PE firm Roark Capital: Report

  • GIC, ADIA-backed Greenko's promoters seal over $200-mn takeover

- IPO:

  • Pramara Promotions IPO subscribed 44% on first day of bidding

  • Kahan Packaging IPO to open on September 6, issue price at Rs 80 per share.

  • Arkade Developers files draft papers for Rs 430-crore IPO

  • Basilic Fly Studio IPO: Offer subscribed 26.08 times on Day 1

  • Rishabh Instruments IPO booked 31.65 times on final day

  • Jupiter Life Line Hospital fixes price band at Rs 695-735 a share for IPO

  • Sungarner Energies shares see 3-fold jump on listing day, close at Rs 262

  • Aeroflex Industries shares close with 51% gains on debut

  • CPS Shapers IPO sees stellar response from investors, subscribed 236.67 times on final day

  • Jupiter Life Line IPO to open on September 6; closes on September 8

- VC:

  • Gulf Digest: Startups Lyvely, Rewaa, Maly raise early-stage funding

  • India Inc's biggest LP's portfolio crosses $600 mn; tops up ex-Goldman, GE exec's fund

  • CIIE-backed gradCapital floats second micro-VC fund to bet on student startups

  • Early-stage startups CredRight, ShipEase, raise funding

  • VC-backed retail-tech firm Arzooo plans fresh fundraise

  • MediBuddy grabs $18 mn more from Quadria, other investors

  • Lightspeed backs Markato in its first Hong Kong investment

  • Nexus-backed amasses $100 mn to enter unicorn club

Tech / Startup:

  • Zepto's unicorn round sole bright spot as funding winter persists in August

  • Byju’s delays Rs 45-50 cr payments to Salesforce and other data management tools

  • Fidelity marks up SoftBank-backed Meesho's fair value by 14% after markdown in April

  • SoftBank may exit Zomato fully after selling 1.17% in a block deal

  • Dunzo further delays salary payments to October as funding talks make little progress

  • WhiteHat Jr CEO Ananya Tripathi resigns, in another top-level exit at Byju's

  • PhonePe entered the stock broking business with the launch of Share.Market app

  • Big fish land in tech’s talent pool amid layoff woes

  • Donald Trump returns to social media site X, formerly Twitter, with a mug shot post

  • Chandrayaan 3: No eclipsing this landing as the entire nation erupts in joy

  • WestBridge Capital Co-Founder buys sea-view luxury pad in Mumbai’s Worli for Rs 96 cr

  • Uber brings back ride-sharing; launches ‘Group Rides’ for users headed to the same destination

  • Tech firms are slowing layoffs but still not yet resuming hiring



  • UBS flags cost cuts after $29B Credit Suisse windfall

  • US health officials want to loosen marijuana restrictions.

  • Stagflation dangers stalk Europe as markets eye end to hikes

  • Tesla reportedly facing DOJ, SEC probes over plans to build Elon Musk a large glass house

  • Banks get tough on return to office laggards after summer break

  • Europe’s biggest oil company quietly shelves a radical plan to shrink its carbon footprint

  • Carbon credit market confidence ebbs as big names retreat

  • China ramps up campaign to boost fragile economy, currency

  • Barclays is setting aside balance sheet cash for private debt push

  • Shopify stock pops after company strikes ‘Buy with Prime’ deal with Amazon

  • Taylor Swift, Beyonce and ‘Barbenheimer’ are lifting consumer spending this quarter

  • Airline stocks come down to earth as earning outlook darkens

  • 63% of workers unable to pay a $500 emergency expense

  • NYC Pension CIO sees little impact from Wall Street ESG pullback

  • China’s economy shows fresh weakness in factories, housing consumer spending

  • Oil demand in US topped pre-covid levels in May and June

  • Ukraine counteroffensive pierces main Russian defensive line in southeast


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