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Business News/ Weekend / Festive season, encouraging results

Festive season, encouraging results

Best of the Week, 21 October: quarterly results, Olympic bidding, and new ports.

Best of the WeekPremium
Best of the Week

Dear reader,

We have less than two and a half months to the year's end. While this means that I have just about 70 days to make good on my New Year's resolutions, this period also marks the beginning of the festive season across most parts of India.

It's also an important time for India Inc. This time brings a lot of quarterly results, and companies look at how the first half of the financial year has gone β€” and how to plan for the next half.

πŸ›’ As the monsoon season ends, October brings a lot of joy to the Indian household: from Onam to Durga Puja and eventually Deepavali, it is a time of celebration and spending. Add to it the spectacle of the Cricket World Cup, and there's one clear winner: consumer goods companies. Suneera Tandon writes about the demand for consumer goods and personal care products has picked up ahead of Diwali β€” welcome news, especially after the first few months of the year turned out to be quite slow, especially in rural India [FMCG Q2 Results here].

πŸ“² Associated with UPI payments, PhonePe now wants to diversify and become a payment aggregator player. The business has low margins and high regulatory scrutiny; PhonePe will need to offer heavy discounts for merchants to consider it as a viable option, writes Arti Singh.

🏦 Analysts and shareholders were waiting for HDFC Bank's quarterly results β€” after all, it was the first report since the massive $40 billion merger with its parent company went through. Gopika Gopakumar writes about HDFC Bank's 51% jump in profit in the September quarter that beat analyst expectations on lower provisions and higher incomes. However, the entity reported a higher bad loan ratio as a result of the merger.

πŸƒβ€β™€οΈ The Prime Minister said that India will make a bid to host the 2036 Olympic Games. Sumant Banerjee writes that the 16-day event will cost India around $50 million β€” even for an unsuccessful bid. If we actually win and host it, the cost will be in the billions. Are the economic implications of hosting the Games worth it?

πŸ—³οΈ As Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, and Mizoram head for elections next month, inflation varies across these states. Politicians often blame each other for the common man's financial woes, but one wonders: is it really a hot-button issue, or one that will die down after the results are announced? Rhik Kundu explains.

🌾 Despite some demand, the market for organic food is fairly limited in India. At least 20% more expensive than their conventional counterparts, organic foods lose out on the price game. Additionally, there is limited data on pesticides usage, leading to more customer distrust. Sayantan Bera gives you an on-ground report of the state of organic farming in India, and how its future is shaping up.

🏑 Mumbai always had exorbitant rents and real estate prices. After the pandemic, the housing market in Mumbai has somehow become even more expensive. Demand for large homes is robust, but Mumbai has to compete with other metro cities for luxury projects that might be more cost-effective elsewhere, writes Madhurima Nandy.

πŸ“΅ Navi took the mutual funds world by storm, after delivering great results and investing aggressively. However, if you've invested in Navi's MF, you will be forced to share access to your phonebook, else you can't access your holdings. Sashind Ningthoukhongjam takes a closer look into this shady practice by Navi, and speaks to investors who are miffed by the current state of affairs.

πŸ›³οΈ India isn't known as a major shipping stop. Since India doesn't have a natural port with large depth, large ships avoided India to dock at neighbouring ports like Colombo, Dubai, or Singapore. That will change β€” Kerala's Vizhinjam port opening, with its 20 metres of natural depth, will be a boon for such ships, writes MK Nidheesh.

πŸ’° People buy life insurance policies to ensure the financial well-being of their families. While financial planning may not be the first item on the agenda after a loved one passes away, it is important for beneficiaries to wisely plan what to do with the proceeds. Aprajita Sharma takes a look at how to deal with such a situation. 

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 ( We're a perpetually evolving news product, so any and every input is appreciated!


Shashwat Mohanty

Assistant Editor

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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: 21 Oct 2023, 07:10 AM IST
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