📊 Dixon Delivers a 4x Profit Jump—And an ₹8 Bonus

☕ Good Morning, Masala Crew!

It’s Wednesday, and much like a chai wala at peak hour, the news is loud, layered, and a little chaotic. From a ₹100 rakhi that cost Amazon ₹40,000 to Delhi-based fashionistas raising crores, and Zepto’s bumpy rural ride, this edition proves once again—nothing is too small to stir the pot.

Let’s pour the kadak stuff first 👇

☕ Chai Shots

• 🧾 Dixon Goes Boom in Q4: Dixon Technologies reported a jaw-dropping 322% YoY surge in profit to ₹401 crore, fueled by an explosive rise in revenue and operating performance. Plus, shareholders got a sweet ₹8 dividend treat!

• 🚀 Elon Musk Says He’s Not Going Anywhere—Tesla CEO for 5 More Years: Speaking at the Qatar Economic Forum via video, Elon Musk shut down rumors about stepping away from Tesla, confirming he'll remain CEO for at least the next five years. His reason? Not the paycheque—but maintaining “reasonable control” so activist investors can’t boot him out.

• 🚨 Zepto’s Rural Jobs Plan Faces Heat Over Worker Treatment: Gig workers recruited under Zepto’s Rural Mobilisation Program say they were promised big-city jobs, fair pay, and good living conditions—but were instead met with low wages, crowded housing, and shady recruitment practices. Labour unions have stepped in, and Zepto says it’s launched a full audit to address the issues. More on this in the Big Brew!

• 💸 247VC Rolls Out ₹250 Cr Fund to Back Bharat’s Boldest Builders: A new VC on the block is ready to shake things up—Mumbai-based 247VC has launched its maiden India fund with a target corpus of ₹250 crore (₹200 crore base + ₹50 crore greenshoe). The seed-stage fund plans to back 30 high-potential startups over the next three years.

📉 Market Masala

• 📉 Sensex & Nifty Sink as Tariff Fog Lingers: Markets took a nosedive as investors grew jittery over the lack of clarity in India–U.S. trade negotiations. The Sensex plunged 873 points to 81,186, while the Nifty dropped 262 points to close at 24,684. The sell-off wasn’t just skin-deep—mid-caps and small-caps tumbled 1.7% and 1%, respectively.

• 🧯 Global Worries Pile On: Ongoing U.S. debt anxieties, fading hopes in U.S.-Iran nuclear talks, and a stalemate in Russia-Ukraine peace efforts kept investor sentiment on edge.

• 📉 Heavy Hitters Dragged Down: Bajaj twins, Nestle, Power Grid, UltraTech, M&M, and Maruti lost between 2–4%, weighing heavily on benchmarks.

• 🧾 Trade Deal Tea: Reports suggest India is working on a three-part trade deal with the U.S., aiming for an interim agreement before Trump’s proposed reciprocal tariffs kick in by July. But drama brewed when Trump claimed India had offered zero tariffs on U.S. goods—only for EAM S. Jaishankar to shoot that down.

• 🏥 Max Healthcare Keeps the Pulse Strong: Max Healthcare posted a 21% rise in Q4 net profit to ₹376 crore and a 29% jump in revenue. Although profit margins remained flat, operational efficiency improved significantly. Annual profit also edged up 9% to ₹1,392 crore, showing resilience amid rising healthcare competition.

• 💊 Pfizer Shoots Up on Strong Earnings: Pfizer India shares surged nearly 11% and ended up 9% after the company posted an 85% jump in quarterly profit—powered by strong drug sales and margin boosts.

🌍 Global Masala

• 💄 Chanel’s Profits Take a Tumble: The French fashion house reported a 28% drop in net profit to $3.4 billion, citing weak demand in Asia and the Americas. Yet, it’s doubling down on expansion, including plans to grow in India and Mexico. Will luxury bounce back?

• 🏦 Australia Slashes Rates Again: The RBA trimmed its benchmark rate to 3.85%, citing cooling inflation and global uncertainty post-Trump tariffs. This is the second cut this year as the Aussie economy leans on consumers to weather global volatility.

• 📉 Wall Street's Rally Runs Out of Steam: The S&P 500 ended a six-day win streak with a 0.4% drop, while the Nasdaq and Dow also fell. Investors are rethinking just how “relieved” they should be about the temporary pause on trade wars.

☕ The Big Brew: 👷‍♂️ Zepto’s Rural Jobs Plan Needs a Reboot

Zepto set out to offer better livelihoods to jobseekers from Tier 2 and 3 towns—but the execution has sparked serious concerns.

• 📉 Broken Promises: Workers say they were promised ₹30K–₹40K/month, free meals, and decent housing—but ended up with low pay, cramped rooms, and unofficial IDs.

• 💸 Unfair Deductions: Recruitment agencies allegedly skim ₹800–₹1,000 from weekly wages, despite receiving bonuses from Zepto.

• 🎥 Misleading Recruitment: Job listings were boosted through YouTube channels, often with inflated promises and incomplete information.

• 🧾 Zepto Responds: The company says it's taking the allegations “very seriously” and has launched a full audit.

• 🫱 Why It Matters: The gig economy can’t thrive if workers are misled or mistreated. Fair wages, safe housing, and respect aren’t perks—they’re the baseline.

If India’s fastest-growing startups want to be future-proof, they’ll need to grow with conscience, not just speed. Zepto now has the opportunity to do just that.

🚀 Startup Scoop

• 🧩 Misfits Finds Its Tribe with ₹5 Cr: Delhi-based Misfits, an offline community platform for hobby clubs, just raised ₹5 Cr. With over 20,000 members and 3,000+ meetups already, it’s expanding across NCR to help people connect beyond screens.

• 🩺 CureBay Prescribes $21M for Rural Healthcare: With 150+ e-clinics in Odisha and Chhattisgarh, CureBay plans to scale to states like Bihar and MP. The funds will fuel tech upgrades and AI-powered predictive care for India's underserved regions.

• 🔐 Cloudsek Raises $19M to Fight AI-Powered Cybercrime: The Bengaluru-based cybersecurity firm will use the funds to expand globally and double down on AI-based threat prediction. Already cash-flow positive, it's going toe-to-toe with U.S. and Israeli giants.

• 👜 Miraggio Clutches ₹55 Cr to Expand Fashion Empire: The women's accessories brand is ready to launch 500+ new SKUs and open 20 new stores. Its focus? Tier II & III cities and stylish utility bags—from totes to tech-friendly backpacks.

• 🎮 Nazara Powers Up with ₹247 Cr UK Gaming Buyout: India’s only listed gaming giant, Nazara Technologies, is levelling up again—this time with the acquisition of UK-based Curve Games for ₹247 crore.

🤓 Chai Break Trivia

Did you know Motu and Patlu caused Amazon a ₹40,000 headache? A woman in Mumbai ordered a ₹100 Motlu Patlu rakhi that never arrived. She took Amazon to consumer court—and won big! Lesson: never underestimate the power of siblings… or Rakhis.

🔮 What’s Brewing Next?

• ⚖️ RIL’s $1.5B Gas Dispute Heads to Supreme Court: After losing a key arbitration ruling in Delhi HC, Reliance is now appealing to SC in the decade-old KG-D6 siphoning case.

🫶 Thanks for Sipping With Us!

From Tesla’s turbocharged AI dreams to Zepto’s worker wake-up call, today’s blend of business headlines was anything but boring. The markets may be wobbling, but if there's one thing we’ve learned—India’s startups are moving fast, and the world is watching