The BS Morning Show

BJP apparently took the wind out of the opposition’s sails while focussing on what Narendra Modi called four biggest castes -- poor, youth, women, and farmers. During the just concluded state polls, women are said to have voted overwhelmingly in favour of the BJP, putting it in a pole position for the next year’s Lok Sabha polls. So are women the new electoral trump card?  But, at the just-concluded UN climate conference in Dubai, lack of women leaders around the negotiating table was noticed by many. Hillary Clinton raised this issue saying that the tide has been turned against women in many parts of the world. Moving on, Prime Minister Narendra Modi has proposed to host the 33rd edition of COP in India, which will take place in 2028. Earlier, it was held here in 2002. So what would India gain from hosting the COP33 meeting?  Moving on, Adani group’s market capitalisation is back to near 13 trillion rupees after the stocks rallied up to 44% in just one week. With most of the regulatory overhangs likely behind the group, is the worst over for the ports to power conglomerate?  After Adani, let us turn our gaze to global diplomacy. India is increasingly being called as the voice of the Global South. It has just hosted the G-20 summit and is aspiring to host the prestigious global climate conference in 2028 in the country. But what is Global South? Listen to this episode of the podcast for answers.

The equity markets scaled fresh lifetime highs on December 4, a day after BJP swept three out of four states elections. So, have the assembly poll results set the stage for a pre-general election rally?  The market valuation of BSE-listed companies recently touched 4 trillion dollars. It is now narrowing the gap with Hong Kong. Nikkei meanwhile has just reported that there are more initial public offerings in Mumbai’s two exchanges than any financial centre in China. Staying with China, India’s JSW Group last week signed a pact with Chinese state-owned SAIC Motor -- which makes MG cars. As part of the deal, India’s largest steel maker will pick up a 35% stake in the joint venture which will make electric cars in India. But why is JSW Group entering the automobile sector?  But not all consumer-facing forays turn into money-minting businesses overnight. Even conglomerates struggle on that. India’s legacy conglomerates Reliance Industries and the Tata Group’s foray into e-commerce looked promising in the start because of their massive offline presence for decades together. But several years on, Amazon and Flipkart still rule the Indian e-commerce landscape – with over 60% share. Find out why Reliance and Tata are struggling at e-commerce. After the competitive world of e-commerce, let us turn our gaze to court corridors where an interesting debate is raging. How should a judge be addressed? Last month, a Supreme Court judge expressed displeasure at being called “my lord”. He preferred being called sir. But why are judges called “my lord”? Listen to this episode of the podcast for answers.

GDP data for the second quarter of financial year 2024 is out. Kasthuri Akhil crunches the numbers and speaks to industry experts to find out the clear picture.  But growth, sometimes, pits people against the mighty nature. Especially in the hilly terrains -- where striking the right balance is crucial. A slip may put us downhill. We recently saw that in Uttarkashi, where an under construction tunnel caved in, trapping 41 workers. While the workers are safe now, what lessons does this fiasco offer us on crisis management? And how can we avert such a tragedy in future?  Let us now move on to the financial markets. The bumper listing of Tata Technologies, which saw listing gains of over 100%, has put the spotlight back on primary markets. The segment has been abuzz with offers, generating robust investors’ interest, even as secondary markets turned sluggish since September. So, did the lack of action in the secondary markets boost interest in primary markets? And will the momentum fade once secondary markets pick pace?  One of the fiercest proponents of free market economy and celebrated US diplomat Henry Kissinger died on Wednesday, November 29. He was 100. But what gave him such a celebratory status? Listen to this episode of the podcast for answers.

A host of world leaders will meet and brainstorm ways to limit global temperature rise during the 12-day COP28 summit - which begins today on November 30 in Dubai. They will also assess the progress made towards the Paris Climate Change Agreement -- which had sought to limit global warming to below 2 degrees from pre-industrial levels. Let's track the journey of this annual event and also tell what can we expect from this year’s event.   Meanwhile, temperature also soared in Silicon Valley recently after the OpenAI board sacked Sam Altman. Although Altman’s reinstatement has taken some of the heat out of the drama, it has raised questions about the relation between company boards and CEOs. Business Standard’s Suveen Sinha sat down with industry veterans Arun Maira and Amit Tandon to get clarity on this contentious subject Indeed, Indian industry too can draw lessons from the OpenAI saga. Moving on, the overall market capitalization of BSE listed shares topped the 4 trillion dollars mark for the first-time ever on Wednesday. This comes on the day the Nifty50 index ended above the 20,000-mark after a gap of 2 months. The key question on investors' minds now is, will the optimism last?  After the markets, let us turn our gaze to another news which kept people glued to screens for 17 days. A group of rat hole miners rescued 41 workers stuck in an Uttarkashi tunnel on Tuesday night. In our explainer segment, Nandini Singh tells more about these miners. Kisten to this episode of the podcast for answers.

Exactly a year after FTX’s collapse, another pillar of the crypto sector is shaking. While the FTX’s Sam Bankman Fried is behind bars, former Binance chief Changpeng Zhao has pleaded guilty to violating US' anti-money laundering laws. So as the Binance conundrum unfolds, it has once again trained the spotlight on concerns around safety and credibility of global exchanges.  Despite its booms and busts, crypto still holds sway. And young investors swear by it. The only other medium which offers them somewhat similar thrills is IPL. And one of the leading IPL stars, Hardik Pandya, is back into the fold of Mumbai Indians. In our special segment, find out what makes Hardik Pandya so important? The just-concluded cricket world cup broke all the viewership and advertisement records. Moving on, FADA reported that automobile retail sales also broke all the previous records. Overall automobile sales rose 19% in the 42-day festive period this year as compared with last year. At the bourses, the Nifty Auto index has significantly outperformed the markets by zooming 35% thus far in 2023. As analysts see moderation in demand, will the rally in auto stocks come to a halt?  Unlike the markets, most cryptocurrencies were trading in red for the last one week till Tuesday. Meanwhile, the world's largest cryptocurrency exchange Binance is in the news. Its former ECO has pleaded guilty for violating US laws. But what are cryptocurrency exchanges? We tell you in this segment of the podcast.

Exactly a year after FTX’s collapse, another pillar of the crypto sector is shaking. While the FTX’s Sam Bankman Fried is behind bars, former Binance chief Changpeng Zhao has pleaded guilty to violating US' anti-money laundering laws. So as the Binance conundrum unfolds, it has once again trained the spotlight on concerns around safety and credibility of global exchanges.  Despite its booms and busts, crypto still holds sway. And young investors swear by it. The only other medium which offers them somewhat similar thrills is IPL. And one of the leading IPL stars, Hardik Pandya, is back into the fold of Mumbai Indians. Find out what makes Hardik Pandya so important? The just-concluded cricket world cup broke all the viewership and advertisement records. Moving on, FADA reported that automobile retail sales also broke all the previous records. Overall automobile sales rose 19% in the 42-day festive period this year as compared with last year. At the bourses, the Nifty Auto index has significantly outperformed the markets by zooming 35% thus far in 2023. As analysts see moderation in demand, will the rally in auto stocks come to a halt?  Unlike the markets, most cryptocurrencies were trading in red for the last one week till Tuesday. Meanwhile, the world's largest cryptocurrency exchange Binance is in the news. Its former ECO has pleaded guilty for violating US laws. But what are cryptocurrency exchanges? Listen to this episode of the podcast for answers.

Discontinued in 2004, the clamour for the restoration of the old pension scheme has been growing. And approaching elections have made it louder. With some opposition-ruled states implementing it, ruling BJP, it seems, is also in a quandary. Senior BJP leader Amit Shah promised last week that the party will deliberate on restoring it once the panel formed to look into its merits submits its report. Find out if the old pension scheme is on its way of making a comeback. This issue of the Old Pension Scheme is indeed keeping the government in a bind. It has to choose between fiscal prudence and populism. But it seems, the government has finally made its mind on another tricky subject. It has reportedly given a green signal to Tesla. The approval process to welcome Elon Musk’s company to India by next year is being expedited. So, have the stars aligned for Tesla’s India entry?  Indeed, Tesla needs India and the country needs Tesla. Moving on, after rallying for four straight weeks, the Sensex and Nifty are within a striking distance of their record highs. A host of domestic factors, including the Q3 GDP data, could sway the markets in the holiday shortened week. So, what should be your trading strategy?  But the market experts are also keeping a close eye on the ongoing Israel-Hamas war. Recently, Houthi rebels hijacked an Israeli ship in the Red Sea, a move which stoked fear of escalation of the clash. But who are the Houthis? Listen to this episode of the podcast for answers.

This is a sticky subject that pits industry against politicians. While industry leaders prefer merit, politicians want to ensure what they call “social justice”. Last Friday, Congress released its manifesto in poll-bound Telangana and promised 75% quota for locals in private jobs. But just hours later, a High Court nixed a similar law which was invoked by ruling BJP in Haryana. So are local job quotas the right way to go?  Let us now move on to another sticky subject: the ongoing clash between Israel and Hamas. It has cast a dark shadow over the ambitious India-Middle East-Europe Economic Corridor. Business Standard’s Bhaswar Kumar caught up with former foreign Secretary Shyam Saran to know his take on it. Saran also spoke at length about other issues which have a bearing on India, like the recent talks between US President Joe Biden and Chinese leader Xi Jinping. The seasoned diplomat also gave insight on developments in the Maldives, Bangladesh and Pakistan.  India’s bullish financial markets also reflect the country’s growing might. Shares of market intermediaries like BSE, CDSL and CAMS have posted massive gains this year led by a swift market rally. Naturally, the questions on investors’ minds are if there is more upside in these stocks or is it time to book profits.  Softer than expected inflation data in the United States has also lifted market spirits. But a recent news from the US has triggered a row here. Its authorities have claimed to have foiled a bid to kill Gurpatwant Singh Pannun. India considers him a terrorist. Listen to this episode of the podcast for more.

Global slowdown and an increased scrutiny has put an end to India’s roaring startup party. From minting new unicorns almost every week, we have just one this year so far. But there are signs of thaw in this funding winter. And this time, desi businessmen are leading the charge. But who are these new saviours of Indian startups?  Startup founders can also learn a lot from traditional businesses. There is no end to the success stories of Indian entrepreneurs. One such leading figure passed away last week. Prithvi Raj Singh Oberoi, who was famous as Biki Oberoi, has left behind a legacy that will inspire people for years to come. But what after him? What next for Oberoi Group?  Meanwhile, Oberoi Reality’s recent move to enter Delhi-NCR market pushed its share by over 4% this week. Moving on, shares of Manappuram Finance and Muthoot Finance have been in demand on the bourses, ever since the duo announced their September quarter results. The shares have jumped up to 13 per cent as against 1 per cent rise in the benchmark Sensex index. As gold prices continue to rise, will the rally in gold financiers continue? Or will it lose its steam amid the RBI's recent directive on unsecured loans? Interestingly, part-time member of the Economic Advisory Council to the PM, Nilesh Shah, isn’t impressed by Indian’s love for the yellow metal. Shah claimed this week that India’s dream of becoming a 5 trillion-dollar economy could have been achieved “long before” if not for the habit of importing gold. Well, many would disagree, as it’s an age-old debate. Moving on, another age-old debate is echoing in the Supreme Court chamber. Four opposition-ruled states have approached the top court, alleging governor’s overreach. In this episode of the podcast today, we tell more about the recent controversy and also decode the governor’s power.

Just about a month ago, RBI Governor Shaktikanta Das had flagged the high growth in unsecured consumer loans. He had also called for better surveillance. And now, the central bank has hiked risk weights on these retail loans, credit cards and on lending to NBFCs by 25 percentage points. It will translate into higher interest rates for all borrowers. But will it also give a fillip to loan apps?  Most of these apps take the help of Artificial Intelligence and use algorithms to gauge the creditworthiness of first time borrowers. And in this process, they are accused of excluding women and people from marginalised sections. Speaking of AI, last weekend saw a drastic change at OpenAI -- the AI startup that developed ChatGPT. Its co-founder Sam Altman was fired. The reason? He wasn’t “consistently candid” in his interaction with the board members. But can you imagine something similar in India? Unlike in developed countries, where leadership changes are embraced, Indian founders are frequently seen as irreplaceable. Why is it so and is there a need for the founder ecosystem’s reboot? Let us now turn our focus to financial markets. After pulling out of Indian equities for two straight months, foreign portfolio investors have pumped in 1,000 crore rupees into Indian equities so far in November. Does this mean FPIs are finally returning to India? Or is this just an aberration in sustained selling?  Do you miss your daily dose of market news due to travelling at times? Or at places where the network is weak? Well the proposed direct-to-mobile broadcasting may offer a good alternative. But how? Find out more in this new technology in this episode of the podcast.