Despite a high interest rate regime, the Indian real estate sector continued to grow rapidly in 2023. A growth that was mainly driven by home buyers. While sales of budget homes jumped, luxury apartments sold like hotcakes – many of which disappeared within hours of booking opening. And much of it was bought by deep-pocketed non-resident Indians. But there are concerns in some quarters. That increased investments by NRIs could push up the prices of houses, making them unaffordable for many.
For most of us, home means a place to relax. A place where we find the warmth of family, and of course a hot cup of tea or coffee in this cold winter. Traditionally, we have been a nation of tea drinkers, apart from areas in the south where coffee has long been enjoyed. But with an increase in people’s incomes and greater exposure to the West, coffee has slowly but surely made its way into our daily routine. Coffee shops, run by both foreign and domestic brands, are spreading across markets and malls like never before. Have we matured as a coffee-drinking nation?
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Now let’s see what’s happening in Dalal Street. Vodafone Idea has failed to make up for the market share loss to its rivals. But shares of the debt-ridden telecom companies have far outperformed their publicly traded peers, rallying 100% in the past year. So, is the power sustainable or are the gains overstated?
Meanwhile, analysts believe that Vodafone Idea’s revenue is likely to stagnate in the December quarter due to customer losses. Further afield, trade between India and Russia has increased by over 200% year-on-year in the first two quarters of FY24. And last month, both countries agreed to establish the Chennai-Vladivostok maritime corridor. Read more about this new route and how it will help both countries in this episode of the podcast.
First print: January 12, 2024 | 6:33 PM IST