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Thursday wasn’t a good day for Paytm and Nykaa on the bourses. 

One 97 Communications, the parent company of Paytm, saw its share price crash 6.43% to Rs 542.25 per share after Alibaba Group’s Ant Financial sold two crore shares, or nearly 3% stake, in a block deal. 

Meanwhile, shares of beauty retailer Nykaa, owned by FSN E-commerce, fell 3.45% to Rs 149.75 per share as an undisclosed shareholder off-loaded 1.4 crore shares to raise $26 million, priced at Rs 148.90 per share.

In other news, JioGames has signed a 10-year strategic deal with Gamestream, a French company that offers white-labelling cloud gaming solutions. The partnership will help JioGames scale its cloud gaming platform JioGamesCloud, which launched in beta last year. 

ICYMI: Valencian artist Raquel Rodrigo is creating a new kind of street art, and it’s very familiar to all of us. 

Forget graffitis and Banksy murals on walls. This time, it’s taking humble embroidery to the street! 

In today’s newsletter, we will talk about 

• Enabling affordable healthcare accessible
• Noise’s revenue shoots up
• Brewing success with Brew Estate

Here’s your trivia for today: Chrometophobia is an irrational fear of what?

Startup

Enabling affordable healthcare accessible

Around 65% of India live in rural areas, but they don’t have access to quality healthcare. Enter Bhubaneswar-based CureBay, which enables the last-mile distribution of primary healthcare services by leveraging technology and a network of e-clinics.

Access to healthcare:

• CureBay provides teleconsultations, deliver medicines, schedule appointments, address the diagnostic needs of patients, and facilitate admission.
• The startup is operating 17 e-clinics across different districts in Odisha and is planning to add seven to eight e-clinics every month.
• It has seen over 10,000-plus patients on its platform, with an average spend per patient of more than Rs 600.

Corporate

Noise’s revenue shoots up

Indian wearable brand Noise reported a 126% growth in revenue and a 7.35% rise in profit in FY22. It reported Rs 792.79 crore in revenue from operations and recorded profits of Rs 35.50 crore.

Key points:

• Noise’s major source of revenue is product sales, raking in Rs 792.71 crore—up by 55.78% from a year ago.
• The company posted total expenses of Rs 756.71 crore from the purchase of stock, advertising and promotions, and employee benefits.
• It is targeting a revenue of Rs 850 crore by FY23.

Food and Beverages

Brewing success with Brew Estate

To inculcate the local breweries and pub scenes he experienced in Australia back home, Arundeep Singla founded The Brew Estate, which aims to become India’s largest microbrewery chain. In FY22, parent company Alcostar Group generated Rs 1,000 crore in revenue.

Fostering growth:

• Alcostar Group operates 12 microbrewery outlets in four states: Punjab, Delhi, Uttarakhand, and Himachal Pradesh.
• It offers around 80 different beer flavours, including fruity varieties like kiwi, apple, strawberry, and guava.
• It plans to open nearly 15 more pubs in the coming months.

News & updates

• Inflation: India’s annual retail inflation rose 5.72% in December from 5.88% in the previous month, within the Reserve Bank of India’s comfort zone, amid cooling food prices, while industrial output rose at the fastest pace since June, easing concerns for policymakers.
• BYD in India: Chinese carmaker BYD Co. is seeking to capture 40% of India’s EV market by 2030, joining a rush of foreign carmakers jockeying for a bigger share of the world’s fourth-biggest auto market, Sanjay Gopalakrishnan, senior vice president of its local unit said at the Auto Expo 2023. 
• Touchscreens: After years of denial, Apple could launch MacBooks with touchscreens by 2025 as a part of a new MacBook Pro lineup. This lineup revamp could also see the company switching from LCD to OLED displays for the 14-inch and 16-inch Pro models.

Chrometophobia is an irrational fear of what?

Answer: Money

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