{"id":13894,"date":"2022-07-22T20:46:15","date_gmt":"2022-07-22T15:16:15","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=13894"},"modified":"2022-07-23T13:08:23","modified_gmt":"2022-07-23T07:38:23","slug":"the-weekly-wrap-the-comebacks-that-werent","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/","title":{"rendered":"The Weekly Wrap | The Comebacks That Weren\u2019t"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d3977bcacfe\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d3977bcacfe\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/#So_Long_Ford\" title=\"So Long, Ford\">So Long, Ford<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/#The_Value_Investor_Exits\" title=\"The Value Investor Exits\">The Value Investor Exits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/#Billionaires_On_The_Cloud\" title=\"Billionaires On The Cloud\">Billionaires On The Cloud<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/#Back_To_The_Ground\" title=\"Back To The Ground\">Back To The Ground<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/#Earnings_Watch\" title=\"Earnings Watch\">Earnings Watch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/#Other_Headlines\" title=\"Other Headlines\">Other Headlines<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/#The_Week_Ahead\" title=\"The Week Ahead\">The Week Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">In this edition, we talk about Kishore Biyani\u2019s Future Retail going into insolvency and the exit of HDFC Mutual Fund\u2019s CIO Prashant Jain. We also take a quick look at corporate earnings for the first quarter.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, finance and markets.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><strong>tl;dr<\/strong>\u00a0Hear the article in brief instead?<\/p>\r\n<p>&nbsp;<\/p>\r\n<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-13894-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/Kuvera-audio-NL-July-22-online-a.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/Kuvera-audio-NL-July-22-online-a.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/Kuvera-audio-NL-July-22-online-a.mp3<\/a><\/audio>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-13925 size-full\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/I-will-be-back.gif\" alt=\"\" width=\"400\" height=\"192\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Everybody loves a good comeback. Everybody loves a second comeback even more. But not everybody can pull themselves up from the depths of failure once, leave alone twice.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">In 2012, Kishore Biyani\u2014once the poster boy of Indian retail\u2014sold his fashion store chain Pantaloons to Aditya Birla Group as he struggled with a pile of debt amassed while building India\u2019s answer to Walmart. He then staged a comeback few businessmen in India have managed to achieve.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Now, after riding India\u2019s retail boom for close to two decades, he is in worse shape than ever before and sitting on a $4-billion mountain of debt. And the chances of a second comeback are slim to none.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">This week, the National Company Law Tribunal allowed a plea by state-run Bank of India to start insolvency proceedings against Future Retail.\u00a0This comes after Future\u2019s deals with e-commerce giant Amazon and Mukesh Ambani\u2019s Reliance Retail fell through and after the three sides fought a long drawn-out and a very messy fight in the courtroom and outside.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Biyani now has few choices but to let the insolvency process reach its logical conclusion. But if reports are to be believed, he is planning a comeback.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Will he manage to turn his fortunes around once more? We aren\u2019t clairvoyants, so we won\u2019t hazard a prophecy, but we\u2019ll certainly tell you if, and when, he does. So, keep watching this space!\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"So_Long_Ford\"><\/span><b>So Long, Ford<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-13947\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/toy-story-woody.gif\" alt=\"\" width=\"400\" height=\"459\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Talking about another comeback that wasn\u2019t, US carmaker Ford is finally exiting India after two attempts to stay on failed within two years.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Ford had, in late 2019, proposed to form a joint venture with Mahindra &amp; Mahindra for the Indian operations. That deal collapsed in early 2021. Ford then weighed the possibility of making electric vehicles in India and even became eligible to receive incentives under a government scheme. But it gave up on that idea, too.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">So, two-and-a-decades half after Ford entered India, the US carmaker is bidding adieu to India as part of a global restructuring process. Ford is shutting down its factory in Tamil Nadu which rolled out its last car this week.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Ford will sell its second factory, at Sanand in Gujarat, to Tata Motors. The Indian automaker will need this excess capacity as it gets ready to take a bigger pie out of the burgeoning electric vehicles market.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">India\u2019s EV dream though, seems to be souring a wee bit. Roads minister Nitin Gadkari said this week that the government had sent notices to all EV scooter manufacturers whose vehicles caught fire in recent times. The sector could face a lot of heat from the government and regulators if companies do not solve this issue soonest.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"The_Value_Investor_Exits\"><\/span><b>The Value Investor Exits<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">HDFC Mutual Fund\u2019s Chief Investment Officer, Prashant Jain, has resigned after working with the company for 19 years. Jain is one of the world\u2019s longest-serving fund managers and is among the biggest proponents of value investing in India.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">He had been managing HDFC Balanced Advantage Fund and HDFC Flexi Cap Fund, which have bounced back in recent years and generated returns of 17.8% and 18.2% since launch. He also managed the HDFC Top 100 large-cap fund, which has been a big underperformer.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The IIT-Kanpur and IIM-Bangalore alumnus had previously worked with Zurich AMC and SBI Mutual Fund.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">HDFC MF hasn\u2019t yet named Jain\u2019s successor but has appointed Chirag Setalvad as head of equities and Shobhit Mehrotra as head of fixed income.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Billionaires_On_The_Cloud\"><\/span><b>Billionaires On The Cloud<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-13915 \" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/giphy-2-22nd-july.gif\" alt=\"\" width=\"398\" height=\"265\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Ace <a href=\"https:\/\/kuvera.in\/explore\/stocks\/c\/all?utm_source=Blog&amp;utm_medium=Weekly+wrap+22nd+July\">stock market<\/a> investor Rakesh Jhunjhunwala\u2019s dreams are finally taking wing. His new airline, Akasa Air, is set to take to the skies from August 7 and opened bookings this week.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Akasa will operate its first flight on the Mumbai-Ahmedabad route using Boeing 737 Max aircraft. This will be followed by other routes including Bengaluru-Kochi. The airline has ordered as many as 72 Boeing 737 Max aircraft, of which 37 will be inducted by December 2024.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The other billionaire whose fortunes seem to keep rising higher and higher is Gautam Adani, who overtook Microsoft founder Bill Gates to become world\u2019s fourth richest with total wealth of $115.5 billion. Gates is worth $104 billion.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">More importantly for Adani though, he leaves Mukesh Ambani, with a net worth of $90 billion, behind by a mile, at the tenth spot!<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Back_To_The_Ground\"><\/span><b>Back To The Ground<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Jhunjhunwala and Adani may be on cloud nine, but the Indian rupee continued to decline against the US dollar this week breaching the psychologically important mark of 80 to the greenback.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Significant dollar demand from oil importers amid elevated crude oil prices and concerns about swelling trade deficit have also been key catalysts behind the rupee\u2019s steep descent.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The Indian currency has now fallen by more than 7% since January this year, raising concerns of imported inflation.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The rupee, however, has appreciated against other major currencies like the euro and the Japanese yen. However, there is nothing home to write about it since the rupee gained not on its strengths but because the euro and the yen have fallen comparatively more against the dollar.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">And there is more weakness on the horizon. Many analysts are already hinting at the rupee falling to 82 against the dollar and possibly lower. So, brace for the impact!<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Earnings_Watch\"><\/span><b>Earnings Watch<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-13916 size-full\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/giphy-1-22nd-july.gif\" alt=\"\" width=\"398\" height=\"478\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Several marquee companies announced their first-quarter results this week. Hindustan Unilever, India\u2019s top FMCG company, beat Street estimates with an 11% rise in its Q1 net profit to Rs 2,289 crore. IT major Wipro, however, missed forecasts as its Q1 net profit dropped 21% year-on-year to Rs 2,564 crore. Its revenue rose 16%.\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Other companies that reported healthy profit numbers included Hindustan Zinc, UltraTech Cement, multiplex chain PVR, IndusInd Bank, RBL Bank and IDBI Bank.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">UltraTech\u2019s Q1 profit fell 7% from a year earlier to Rs 1,582 crore but still exceeded estimates. Hindustan Zinc\u2019s profit climbed 56% to Rs 3,092 crore, riding on a 45% spike in revenue.\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">PVR swung to a profit of Rs 68 crore from a year-earlier loss as cinema halls reopened. IDBI Bank\u2019s profit rose 25% to Rs 756 crore as provisions fell. IndusInd Bank\u2019s profit rose 60.5% to Rs 1,631.1 crore, topping forecasts. RBL Bank swung to a net profit of Rs 201 crore from a year-earlier loss as asset quality improved.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">While the results seem healthy, dig a little deeper and the fault lines begin showing. HUL\u2019s profit, for instance, came on the back of price hikes and volume growth slowed as high inflation damped consumer demand.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Most companies also benefitted from a low base because India was battling the deadly second wave of Covid-19 in the first quarter of the last fiscal year.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Still, the solid set of results and no negative surprises pushed stock markets higher. The 30-stock Sensex and the Nifty 50 gained almost 3.3% each this week. IndusInd topped the Nifty, gaining almost 15%. UltraTech jumped almost 10%, while its group companies Grasim and Hindalco were also among the top gainers.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Other_Headlines\"><\/span><b>Other Headlines<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">European Central Bank raises interest rates by 50 basis points in first hike in 11 years<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Draupadi Murmu becomes India\u2019s first tribal and second woman President<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Govt imposes 5% GST on pre-packed food items like rice, wheat, curd, paneer<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Hotel and hospital rooms, several household goods to also get expensive as govt revises GST rates<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reserve Bank of India reschedules next policy meet to Aug 3-5<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">RBI prepared to spend $100 billion more to defend rupee, reports Reuters<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Govt cuts windfall tax on local crude sales, fuel exports<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India May FDI inflows fall to $8.07 billion from $12.32 billion a year ago<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India to import 76 million tonnes coal to meet shortfall, power tariffs to go up<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li><span style=\"font-weight: 400;\">ADB slashes India growth forecast to 7.2% for FY23, sees higher inflation<\/span><\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"The_Week_Ahead\"><\/span><b>The Week Ahead<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A number of big banks and blue-chip companies will disclose Q1 earnings. These include ICICI Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, Tata Steel, Infosys and Asian Paints.\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li><span style=\"font-weight: 400;\">All eyes and ears will be on the US Federal Reserve\u2019s monetary policy meeting, where it is widely expected to increase interest rates by at least another 75 basis points.<\/span><\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>Until next week, happy investing!<\/p>\r\n<p>&#8212;&#8212;&#8212;&#8211;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><strong>Interested in how we think about the markets?<\/strong><\/p>\r\n<p>Read more: <a href=\"https:\/\/kuvera.in\/blog\/in-investing-the-simplest-things-are-the-hardest\/\">Zen And The Art Of Investing<\/a><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Check out our &#8220;Investor Education Originals&#8221; on Youtube and get smart about investing.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><style>.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }<\/style><\/p>\r\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/dbxbBR7it10?list=PLDSzQdT9nLmBFD2p94O5p2pZ4vEUR-Thz\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/div>\r\n<p>&nbsp;<\/p>\r\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit <a href=\"https:\/\/www.youtube.com\/watch?v=R7g03UwJAT8&amp;utm_source=Blog&amp;utm_medium=Weekly+wrap+22nd+July\" target=\"_blank\" rel=\"noopener\">kuvera.in<\/a> to discover Direct Plans and Fixed Deposits and start investing today.<\/p>\r\n<p>#MutualFundSahiHai #KuveraSabseSahiHai!<\/p>\r\n<p><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>In this edition, we talk about Kishore Biyani\u2019s Future Retail going into insolvency and the exit of HDFC Mutual Fund\u2019s CIO Prashant Jain. We also take a quick look at corporate earnings for the first quarter. &nbsp; Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, finance and markets. &nbsp; tl;dr\u00a0Hear [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-the-comebacks-that-werent\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":12756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[173],"tags":[801,1249,1240,1248,1237,961,1242,1247,1238,1245,1236,1244,1239,1246,689,1243,1241],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Comebacks That Weren\u2019t | Weekly Business updates | Kuvera<\/title>\n<meta name=\"description\" content=\"Business &amp; finance updates in a nutshell - Kishore Biyani\u2019s Future Retail going into insolvency and the exit of HDFC Mutual Fund\u2019s CIO Prashant Jain. 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