🥶 Frozen Fortune: ITC’s Power Play in Food (Feb 8)

It’s the weekend, and while you’re deciding between brunch and binge-watching, we’re here to serve you the spiciest business updates on a silver platter. 🔥 From Swiggy’s stock slump to ITC’s frozen food power move, it’s a buffet of business bites you don’t want to miss!

⚡ Chai Shots

• 📉 As we reported yesterday, the RBI lowered its repo rate from 6.5% to 6.25% to counter slowing GDP growth, which is projected to hit a four-year low of 6.7%. The move could result in lower mortgage and credit card interest rates, but challenges like a weakening rupee and global uncertainties persist. 🚀

• 🍔 Swiggy’s stock dips below IPO price – Swiggy’s shares fell below ₹390, closing at ₹374.80, as its quick commerce unit Instamart lost market share to Blinkit and Zepto.

• 📡 Airtel says no to GPU-as-a-Service, focuses on data centers – While cloud giants are betting big on GPUs, Airtel has decided to stick to expanding its data center business, seeing it as a more lucrative long-term bet.

• 🚗 Kia contests ₹1169 Cr tax demand in India – The automaker is fighting back against a $14 million tax claim related to free trade agreement benefits, adding to its ongoing $155 million tax dispute.

📈 Market Masala

• 📊 Nifty & Sensex wrap up the second week in green – Despite minor dips, Sensex closed at 77,846.74 (-0.25%) and Nifty ended at 23,559.95 (-0.18%), with Tata Steel leading the gainers.

• ⚖️ SC orders ₹600 Cr deposit in Religare takeover battle – The Supreme Court has asked Digvijay Danny Gaekwad to deposit ₹600 crore with SEBI by February 12, or Burman’s open offer for Religare will proceed.

• 🇮🇳 India considers cutting import tariffs – The government is consulting stakeholders on reducing import duties to shed the 'Tariff King' label and improve global trade relations.

• ⏳ RBI considers longer forex trading hours – With the increasing electronification of trading and 24x5 availability of forex markets, the RBI has formed a Working Group to review market timings and propose extended trading hours.

• 🔒 RBI announces exclusive domains 'bank.in' and 'fin.in' for financial security – The RBI has introduced 'bank.in' for banks and 'fin.in' for non-bank financial firms to combat cyber threats and phishing scams. These domains will roll out from April 2025 to enhance digital banking security.

🌍 Global Masala

• 📉 US markets tumble as consumer sentiment drops – The Dow, S&P 500, and Nasdaq all slipped after a weaker-than-expected consumer sentiment report, raising concerns about economic stability.

• 🌍 Trump continues dismantling globalization – The US President has imposed sanctions on ICC officials, withdrawn from WHO & Paris Climate Accord, and announced new tariffs, causing uncertainty in global trade and diplomacy.

• 🏛️ Elon Musk’s DOGE team sparks privacy lawsuit – 13 US states are suing Musk’s Department of Government Efficiency (DOGE) for allegedly accessing sensitive federal payment data, raising national security concerns.

• 💄 L’Oréal shifts focus to the US as China sales drop – With China sales down 3.6% YoY, L’Oréal is now prioritizing the US market, citing strong growth potential in Latino & multiracial beauty segments.

• 💰 Pinterest stock jumps 20% on AI-powered ad tools – The image-sharing platform's new AI-driven Performance+ suite has made ad campaigns easier and more effective, attracting advertisers and driving strong revenue growth.

• 🚀 Amazon warns of AI supply chain constraints – CEO Andy Jassy revealed that Amazon Web Services (AWS) faces capacity issues due to hardware shortages and power limitations, which could impact cloud computing and AI services in 2025.

🔥 The Big Brew: ITC’s Frozen Food Power Play with Prasuma 🥟❄️

Move over, fresh food snobs—frozen is the future, and ITC is loading up the freezer! 🚀

ITC just announced a three-year plan to acquire Prasuma, the brand that turned momos into a gourmet frozen food obsession 🥢. But this isn’t just about dumplings—Prasuma also brings a mouthwatering lineup of baos 🥯, Korean fried chicken 🍗, premium deli meats 🥩, and ready-to-cook meals 🍱.

So, why is ITC making this move?

• 🥶 The frozen food market is on fire! Worth ₹10,000 crore and growing fast, as more Indians trade kitchen struggles for quick, quality meals.

• 🥟 Prasuma changed the game! They made frozen food fancy, with preservative-free, chef-style momos and Pan-Asian delights.

• 💪 ITC is stacking up its frozen empire! With ITC Master Chef already leading in frozen desi snacks, adding Prasuma gives them full coverage—from samosas to sushi! 🍣

What does this mean for you?

• 🔥 More premium frozen options at your local store!

• 🚀 Faster access to gourmet frozen meals!

• 🥡 30-minute delivery of premium meats & meals could be the future!

Looks like your next momo night just got an upgrade! 🥟🔥 Frozen never tasted this good! ❄️

🚀 Startup Scoop

• 🍔 Swiggy’s stock dips below IPO price – Swiggy’s shares fell below ₹390, closing at ₹374.80, as its quick commerce unit Instamart lost market share to Blinkit and Zepto.

• 👶 Caregiving-tech startup LegUp raises ₹2 Cr pre-seed funding – The Bengaluru-based startup is scaling up its elder and baby care services, growing 40% month-over-month, and targeting ₹15 crore annual revenue.

• 🚛 Delhivery doubles Q3 profit, exits Bangladesh – Delhivery posted a 114% YoY profit increase, while shutting down operations in Bangladesh to focus on high-growth markets.

• 🎥 MensXP founder exits Mensa Brands to launch creator fund – Angad Bhatia is leaving Mensa Brands to start a creator-focused alternative investment fund (AIF).

🤔 Chai Break Trivia

☕ Did you know Assam produces the most tea in India? 🍃

That’s right! Assam alone accounts for over 50% of India’s total tea production, making it the country’s tea capital. With its lush green tea estates and humid climate, Assam churns out the strong, malty tea that forms the base of your beloved kadak chai! ☕🔥

Fun fact: Assam is also the world’s largest tea-growing region—so next time you sip on your morning chai, there’s a good chance it started in an Assam tea garden! 🌿🍵

🔮 What’s Brewing Next?

• 📌 India’s new digital asset tax rules expected next week.

• 🚀 Union Budget 2025-26 follow-ups on economic stimulus & infrastructure investments.

🍽 Saturday Sign-Off: Time to Feast!

That’s your Masala Chai Saturday edition—whether you’re grabbing brunch, binge-watching, or just chilling, now you’re updated with everything that matters! Happy Saturdaaaaay! 🚀

If you loved this steaming hot brew, share it with a friend over chai! ☕🔥