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Business News/ Weekend / Best of the Week | All you need to know about 2024's first, busy week
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Best of the Week | All you need to know about 2024's first, busy week

Best of the Week, January 6: fight for Jamshedpur, record auto sales, and lessons from the IPL auction.

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Best of the Week

Dear reader,

The new year is an exciting time. There's scope for so much change: a fresh start, leaving the past behind, the turning of the calendar. This year's long weekend helped matters too — an extended weekend that led to the new year was opportune timing for most working professionals.

Most, except those involved in time-sensitive vocations such as journalism. Some of my colleagues and I were working through New Year's Eve, trying to meet deadlines on time and to be with our loved ones as the clock struck twelve.

Many choose to set up personal and professional resolutions. As I wrote in the January 1 edition of our weekday newsletter Top of the Morning, some 80 percent of people fail their new year resolutions by February. They'll always have next year.

New year, same ethos
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New year, same ethos (Hindustan Times)

At Mint, our resolution remains the same: committed to bringing you top-notch journalism from India's finance and business world. We'll continue to do that in a timely and ethical manner — it's a formula that has served us well over the past 16 years.

The last couple of editions of Best of the Week focused on our best works from 2023. This week, we resume regular programming: bringing you our top articles from the week gone by.

Here are our best works from this past week:

📉 The Indian stock markets braved rough global conditions to perform well in 2023. However, the sailing might not be as smooth this year: retail and institutional investors have taken opposing bets on how the market will play out. While retail investors and high-net individuals (HNIs) think the market will grow further, institutional investors are turning bearish, writes Ram Sahgal. Brace yourselves for market corrections.

If you booked a Mahindra Scorpio, this one is probably being assembled for you.
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If you booked a Mahindra Scorpio, this one is probably being assembled for you. (Bloomberg)

🚙 If you know someone who bought a new car last year, it's most likely an SUV. 4 million cars were sold in India in 2023 — a record, despite cars turning 10% percent more expensive year-on-year. Nearly half of these were sports utility vehicles or SUVs, making the format a favourite for the Indian car buyer. Electric vehicle sales grew by leaps and bounds too, writes Alisha Sachdev.

🚚 The week started with a huge protest by truckers, who refused to ply goods because the government proposed new changes to the law on hit-and-run cases. Truckers argued these changed were unfair and it would discourage people from joining their ilk. Two days and an acute shortage of petrol later, the demands were met and the strike called off. Sumant Banerji explains the strike, and why the government caved in so quickly.

⚡️ While much of the country is enjoying chilly skies, summer is always on the horizon. But this year, the central government hopes to curb load-shedding. India is currently stocking up on its coal reserves — an estimated 9 percent higher than last year. Rituraj Baruah writes about this move ahead of the general elections.

🍰 Theobroma, the Mumbai-origin patisserie chain, is looking for fresh investors: the promoters Kainaz Messman and their investors, which includes ICICI Venture, are looking to exit an enterprise valuation price of 2,800 crore. From one small store in Mumbai to 194 today across the country, the business has grown plenty — Suneera Tandon, Varunu Khosla, and Ranjani Raghavan bring you the details of this potential transaction.

And the highest bidder is...
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And the highest bidder is...

🏏 Since its launch in 2008, the Indian Premier League has been a constant source of entertainment on our TV screens. But even prior to the teams taking the field, another spectacle takes place: the player auctions. As Vivek Kaul details, bidding at an auction is backed by a lot of numbers, potential, and recency bias. The auction makes for an interesting case study, and provides a heap of lessons in economics. A fun read combining cricket and economics.

📈 Last January started with a shock for the Adani Group. After a report outlined allegations of fraud at the conglomerate, stocks fell across the board. Over the year, these share prices have climbed back a fair bit. This week, the Supreme Court refused to intervene in the matter, and said that it would let the markets regualtor finish its investigation. That came as a sigh of relief for the Group, who can now raise funds without the shadow of a SC judgement hanging over its head.

🛵 Ola Electric had a good December. After filing its draft red herring prospectus to list on the public markets, it secured a 40% share in the electric 2-wheeler market. A host of promotional offers and poor performance from its rivals propelled the Bhavish Aggarwal-led startup. Alisha Sachdev and Tanay Sukumar write about how Ola Electric won the EV2W battle in December handsomely.

🤔 Choosing a health insurance provider is tough. With all the options available, it can get confusing to pick one which is right for you. Mint Money teamed up with Beshak.org to create a list of our preferred health insurance schemes. Aprajita Sharma writes about why ICICI Lombard tops this list, and what were the parameters that went into creating this ranking.

👴 For retirees, reverse mortgage is an interesting, and more importantly, a tax-free option. The scheme offers senior citizens a regular monthly income, with exceptions for emergencies. But Sashind Ningthoukhongjam outlines why many don't take to this route. It's an interesting story that acts as both an explainer and a report on reverse mortgaging your properties.

Been a long time coming.
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Been a long time coming. (PTI)

🏭 Recently, Jharkhand decided to change Jamshedpur to an ‘industrial town’, thereby leaving the door open for the Tata family to control the city it once established. But the fight to run the steel city of India has been going on for nearly a century, outlines TN Hari. He writes about the city through the lens of his 14-year stint at Tata Steel, including the aspirations of the Tata family through the generations. This is a must-read.

That's all for this week. I hope you all have a pleasant weekend!

If you have any thoughts, credit card-related discussions, ideas, or feedback on our journalism (or subscription), please feel free to write to me (shashwat.mohanty@htdigital.in). We're a perpetually evolving news product, so any and every input is appreciated!

Best,

Shashwat Mohanty

Assistant Editor

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ABOUT THE AUTHOR
Shashwat Mohanty
Shashwat works in the Subscriptions team, often thinking and executing ideas that could get people to pay for news. He is interested in editorial-led iniatives, as he believes that genuined journalism is still extremely valuable. He is a co-writer of Mint's flagship newsletter, Top of the Morning, and also writes the script of the podcast by the same name. Shashwat is also the producer and acontributer to the Best of the Week newsletter. When he's not missing deadlines, he likes attending live music gigs, discussing baseball, and complaining about the mileage of his car.
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Published: 05 Jan 2024, 08:33 PM IST
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