Week 37

Move! 🚨

April 03, 2021

Good Morning,

Welcome! I hope you have your “Subah Kee Chai” ready and you're excited to read your weekly 10-minute digest. 

Oooo it feels good to be back! How were your last two-weeks? I hope they were amazing, but do let me know by replying to this email! This week I covered the huge container ship that blocked the Suez Canal, the boost in sales for certain sectors, the unfortunate rise in COVID-19 cases and a trip down memory lane to experience the 2011 World Cup Win! As always, sip some tea and enjoy your weekly Subah Kee Chai! ☕

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Now let’s get into the news.

Markets

Markets

Woo! This two-week break really kept me out of the loop with my favourite part of the news, the

! Well, this week markets only opened on three days, as Monday celebrated Holi, and Friday was Good...! On Thursday (the last trading day for this week), equity indices jumped with the BSE Sensex rising 500 points, due to gains in both metal and banking stocks. Similarly, Nifty 50 rose over 150 points to just nudge into the green! Induslnd Bank, Kotak Bank, ICICI Bank, Sun Pharma and Ultra Cemco were the top gainers with stocks rising as much as 4.34%. On the contrary, however, HUL, Nestle India, Titan, TCS and Tech Mahindra were among the top losers with stocks dipping approximately 1.29%. According to investors, the recent decision by the Government to infuse INR 14,500 crore in four state-run banks boosted banking stocks. On the global front, US President Joe Biden also announced a broad infrastructure plan which had a positive effect on Indian domestic markets. Lastly, the price of gold and crude oil ended in the green as well following a positive sentiment around equity markets!

In the month of March, India's

rose 58% to USD 34 billion due to a jump in engineering, garments, iron ore and pharma sales. Similarly, India's imports rose 53% to USD 48 billion, widening the trade deficit to over USD 14 billion, an increase by USD 4 billion, from the USD 10 billion deficit in March 2020. However, despite this widening in trade deficit, India's boost in exports is a positive sign in our economic recovery following the COVID-19 pandemic. 

COVID-19  

Scary! That's what the current

numbers are looking like in India this week, as the country reported 89,129 cases on Saturday, the highest daily rise in around six months. This significant rise in daily cases pushed the nations COVID-19 toll to 1.23 crore. This on-going second wave of COVID-19 cases has instilled a sense of fear across the nation, as individuals and businesses fear a potential lockdown to curb this rapid rise. It is important to note, that while case numbers are rising, the number of deaths has not risen as much. Analysts and epidemiologists had earlier anticipated this increase in the

following a relaxation of lockdown measures earlier in the year. In a speech yesterday to the state of Maharasthra, Uddhav Thackeray urged citizens to remain cautious, maintain social distancing, and avoid leaving the house unless for necessary reasons. 

It is self-explanatory by now to remain vigilant and hygienic to ensure your safety and the safety of others. Simple steps: 

1. Wear a mask

2. Maintain social distancing

3. Santise your hands 

4. Only leave your house for necessary things! 

Stay safe! 

Get out of the way! 

Ever Given

Ahh the Ever Given, the one thing it failed to give was a clear way for a number of other stranded ships stranded in the Suez Canal! If haven't already read, the Ever Given is the name of a cargo/container ship, the size of the Empire State Building, that got stuck in the Suez Canal, a crucial trade route. The ship was carrying everything from clothes to crude oil to live cattle and furniture! On Monday, thankfully, a number of tug boats were able to free the Ever Given restarting the trade route, however the boat does not stop sailing there...see what I did there ;)

The next big concern is for the crew members on board the Ever Given, including 25 Indians, that will face a number of legal claims and penalties from the Suez Canal Authority, potentially leading to significant criminal charges as well. According to shipping industry experts, one of the possibilities is that the captain and some of the crew members may be restrained from travelling on a cargo ship ever again! However, it is not all blue for the Indian seafarers, as the National Union of Seafarers of India based in Mumbai has expressed their solidarity for the 25 Indian crew members stating that they will support them whenever required and in whatever manner required. What legal actions, if any, do you think the crew members aboard the Ever Given could face?

  Oldie! 

The Ministry of Road Transport and Highways recently released a report highlighting that over

currently on the road are older than 15 years, with Karnataka home to the maximum, 70 lakh old vehicles. These old vehicles are a major cause of pollution, and as a result, the Indian Government is planning to impose a green tax on old vehicles to protect the environment and to reduce any further pollution. Of these old vehicles, however, hybrids, electric cars, and those running on alternative fuels like ethanol, CNG and LPG will be exempted from the green tax. According to the ministry, the revenue gained through this green tax will be kept aside and solely be used to tackle pollution and to protect the environment. 

Boost 🚀

Beer Sales

Pre-COVID,

was a product that was victim to a high excise duty due to a number of reasons, and this high tax forced beer prices to remain expensive. These high prices were further accompanied by the pandemic that drove demand down significantly causing a major slump in the domestic beer making industry. As a result, and on the road to economic recovery, States across India have had to reassess their state excise duty policies to account for the massive loss in revenue caused during the pandemic. As a result, the beer industry is enjoying a signficant boost in sales as beer prices are dropping due to a relaxation in excise duties. In East and West Bengal, the beer industry is growing upwards of 50% due to a progressive change in the excise duty applicable making the price of beer a lot more accessible to consumers. Similarly, in Uttar Pradesh, excise duties on beer have been reduced by almost a third sparking a sharp rise in demand. In numbers, the price of a can of 500 ml beer has dropped from INR 130 to INR 110. Well I guess it is safe to say, beer consumption in the nation is going to sky-rocket...! 

Audio Streaming

According to a survey conducted by FLYX, a social streaming networking platform,

is another sector that is strapped to a rocket as it is at an all-time high with 52.2% of the people streaming audio content on a daily basis. The survey collected data from 550 participants aged between 18 and 65 including students, business owners, self-employed individuals and professionals. In further detail, 75.9% of the people consumed both audio and video content on a daily basis, 52.4% streamed audio content on a daily basis, and 66.4% preferred audio content as their primary source of entertainment. Podcasts came in second as the preferred audio streaming content, and speaking of podcasts, have you checked out my podcast titled Off Topic yet? The link is above!

Coming back to the news, how often do you stream audio and video content? Is it hourly? daily? weekly? monthly!? Depending on how often you stream audio and video content, do you think its a good thing or a bad thing? And in what ways do you think you could improve that 'screen time'? Let me know by replying to this email! 

Sports

'One six did not win us the World Cup'

2021, times are a lot different now, but if we jump on a train to the past, a decade ago (10 years), we were sitting on our sofas glued to the TV, clenching our teeth in excitement, to witness India battle it out against Sri Lanka in the

2011 at Wakhendhe Stadium in Mumbai, India. Oh, what a day! And that six from MS Dhoni, while it was not the only thing that won us the world cup, it to date gives me goosebumps every time I watch it! However, as Gautam Gambir stated, it was not just that six that won us the World Cup, it was a collective effort from every single Indian player on that team! 

In the 2011 World Cup final, Gautam Gambir scored 97 runs, and let's not forget Yuvraj Singh, who was named the 'Man of the Tournament' for his all-around heroics. Lastly, let's not also forget MS Dhoni, who not only hit 'that six' but also scored 91 runs in the final. What a day! What a moment! A moment that will sit in every India's memory forever!

Sachin Tendulkar

One man, who the 2011 World Cup meant the world to, the Godfather of Indian Cricket,

, Friday, tweeted that he had unfortunately contracted COVID-19 and was being shifted to the hospital as a precautionary measure. Wishing Indian's cricketing legend a quick and safe recovery, alongside every Indian that is currently battling this virus!  

Other News

1.

is set to acquire an Australian-based provider of cybersecurity company Ampion for USD 117 million (INR 866 crore). 

2. In the Financial Year 2021, India welcomed 1.5 lakh

, an increase of 27% from the last financial year.

3. On Wednesday, the Government extended the INR 3 lakh crore

by another three months till June 30th.

4.

rose 27% to hit a record high of nearly INR 1.24 lakh crore in March, narrowing the financial year deficit by 7%. 

5. Unlike other companies struggling to stay afloat during the pandemic,

witnessed a rise in demand for online medical assistance.  

Quiz

Quiz time! I know you've missed it! 

An easy one, just to get you back on the train...

When do you start on red and stop on the green?

Get thinking! 

See you next week!

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Quiz Answer: When you are eating a watermelon ;)

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Written by: Adnan Bahrainwala (Founder of Subah Kee Chai)