{"id":16400,"date":"2022-09-16T18:10:37","date_gmt":"2022-09-16T12:40:37","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=16400"},"modified":"2022-09-17T15:05:09","modified_gmt":"2022-09-17T09:35:09","slug":"the-weekly-wrap-when-doubt-prevails","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/","title":{"rendered":"The Weekly Wrap | When doubt prevails"},"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-69d80e068ff0c\" 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-69d80e068ff0c\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/#When_chips_fall_into_place%E2%80%A6\" title=\"When chips fall into place\u2026\">When chips fall into place\u2026<\/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-when-doubt-prevails\/#%E2%80%A6and_when_they_dont\" title=\"\u2026and when they don\u2019t\">\u2026and when they don\u2019t<\/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-when-doubt-prevails\/#i\" title=\"\u00a0\">\u00a0<\/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-when-doubt-prevails\/#i-2\" title=\"\u00a0\">\u00a0<\/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-when-doubt-prevails\/#Byjus_report_card\" title=\"Byju\u2019s report card\">Byju\u2019s report card<\/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-when-doubt-prevails\/#i-3\" title=\"\u00a0\">\u00a0<\/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-when-doubt-prevails\/#Core_problem\" title=\"Core problem\">Core problem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/#Monetary_tightening\" title=\"Monetary tightening\">Monetary tightening<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/#i-4\" title=\"\u00a0\">\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/#Market_wrap\" title=\"Market wrap\">Market wrap<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/#i-5\" title=\"\u00a0\">\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/#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-13\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/#The_week_ahead\" title=\"The week ahead\">The week ahead<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>In this edition, we talk about India\u2019s manufacturing sector, Vedanta\u2019s planned chip factory and the shelving of BPCL\u2019s privatisation. We also talk about inflation in India and the US, and Fitch\u2019s decision to slash growth forecasts.<i><br \/><\/i><\/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-16400-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/Kuvera-audio-NL-Sept-16.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/Kuvera-audio-NL-Sept-16.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/Kuvera-audio-NL-Sept-16.mp3<\/a><\/audio>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-16463\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/no-doomed.gif\" alt=\"\" width=\"400\" height=\"254\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>A long, long, really long time ago, the bear-king Jambavan exhorted Hanuman to believe in himself when the monkey-god was in doubt over his ability to cross the vast ocean to reach Lanka in search of Sita.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>\u201cO leader of the monkeys!&#8230; You are superior in strength, wisdom, brilliance and valour to all beings. Why do you not realise your own strength?\u201d said Jambavan, as per a translation of the Valmiki Ramayana maintained by IIT Kanpur.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Why are we talking about two characters from the epic Ramayana? Well, people in India rely on Ramayana and Mahabharata from time to time to make a point. This week, Nirmala Sitharaman did just that.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Addressing a business summit, the finance minister asked the industry to step up investments in the manufacturing sector and grab the opportunities arising out of a shift away from China.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>\u201cIs it like Hanuman? You don\u2019t believe in your own capacity, in your own strength and there got to be someone standing next to you and say you are Hanuman, do it? Who is that person going to tell Hanuman? It can\u2019t certainly be the government,\u201d she said. \u201cI want to hear from India Inc. what\u2019s stopping you?\u201d<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>We don\u2019t know whether any industrialist actually spoke up, but we do know why Sitharaman wanted them to invest in manufacturing.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>In September 2014, the government launched the Make in India programme with an aim to boost the share of the manufacturing sector in India\u2019s economy to 25%. What was manufacturing\u2019s share then? About 16-17% of GDP. What was its share a decade before? About 16-17%. What\u2019s the share now? About 16-17%.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>No, there is no typing error in the paragraph above. Manufacturing\u2019s contribution to the economy has remained stagnant for at least two decades. The reasons range from policy hurdles to low productivity and high cost of doing business, and successive governments have failed to solve the problems. Clearly, the manufacturers remain in doubt.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"When_chips_fall_into_place%E2%80%A6\"><\/span><strong>When chips fall into place\u2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>Talking about manufacturing, the sector was in the news this week also because of billionaire Anil Agarwal\u2019s Vedanta announcement of a semiconductor facility.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Vedanta, which seems to be on a PR overdrive for the past few months as it told and retold the story of Agarwal\u2019s humble origins, will build the chip factory in a tie-up with Taiwanese electronics giant Foxconn. The $19.5-billion factory in Gujarat is expected to create 100,000 jobs.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Interestingly, Vedanta\u2019s announcement comes barely months before Gujarat heads for assembly polls in December, where the BJP is seeking re-election.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Gujarat\u2019s gain was Maharashtra\u2019s loss. Maharashtra, India\u2019s most industrialized state, lost the project reportedly because it didn\u2019t promise Vedanta the incentives it wanted.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>By when will Vedanta invest the promised sum? Details are sketchy but Vedanta has clarified it won\u2019t be making the investment itself but its holding company will. This came after Vedanta\u2019s shares fell sharply on Friday.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Can the mining and energy conglomerate help Gujarat leap ahead of technology hubs like Karnataka? It\u2019s too soon to say.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"%E2%80%A6and_when_they_dont\"><\/span><strong>\u2026and when they don\u2019t<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>Oil minister Hardeep Singh Puri said this week that the government has put the plan to sell Bharat Petroleum Corp Ltd (BPCL) on hold. The decision, after searching for a buyer for months, could affect India\u2019s disinvestment target.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The government has budgeted Rs 65,000 crore from disinvestment in the current fiscal year. It has so far raised Rs 24,543 crore, including Rs 20,516 crore from the initial public offering of Life Insurance Corp.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Why has the government shelved BPCL\u2019s divestment? The Covid-19 pandemic, volatile energy prices, and geopolitical conditions apparently made prospective buyers uncertain. A lack of clarity on fuel pricing autonomy also deterred the suitors, which included Vedanta and US-based buyout funds.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Meanwhile, the government will soon invite bids for selling its stake in IDBI Bank, which is controlled by LIC.<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"i-2\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"Byjus_report_card\"><\/span><strong>Byju\u2019s report card<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-16417\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/shrug-john-krasinski.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"400\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Byju&#8217;s, India\u2019s biggest ed-tech company, this week reported a loss of Rs 4,564 crore for 2020-21 after a delay of 17 months. The company also said its revenue fell 3.3% to Rs 2,428 crore as it adopted a new revenue recognition model and deferred about 40% of its revenue to subsequent years.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The ed-tech startup, which commands a valuation of more than $20 billion, has also deferred its plan to go public citing uncertain global conditions.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Byju Raveendran, co-founder, told Reuters that the company was looking for a listing this year but has now pushed the timeline to the end of next year, assuming the macroeconomic conditions will improve.<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-3\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Core_problem\"><\/span><strong>Core problem<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>Last week, Sitharaman had said inflation wasn\u2019t a \u201cred-letter\u201d priority for the government. Latest government data this week showed why it should be.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>India\u2019s consumer price index-based inflation accelerated to 7.0% in August from 6.71% in July and exceeding analysts\u2019 estimate. Separately, wholesale inflation dropped to an 11-month low of 12.41% in August.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Retail inflation has remained well above the Reserve Bank of India\u2019s comfort zone of 2-6% for many months and wholesale inflation has stayed in double digits for almost one and a half years.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>To make matters worse, the finance ministry apparently sought to obfuscate the numbers. The ministry said in a tweet that core inflation, calculated by excluding the transient component of CPI such as food, beverages, fuel and power, was 5.9% in August, \u201cremaining below the tolerance limit of 6% for the fourth consecutive month\u201d.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Many Twitter users pointed out\u2014rightly so\u2014that the 6% tolerance limit is for CPI, not core inflation, and that the ministry was misleading the public.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Could it be that some ministry official made an honest mistake? Well, it could be but we have our doubts.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Monetary_tightening\"><\/span><strong>Monetary tightening<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>The August inflation print makes it more likely that the Reserve Bank of India will increase interest rates further at its next monetary policy meeting later this month.<\/p>\r\n<p><br \/>Many analysts feel the RBI could raise its repo rate by another 50 basis points, after lifting the benchmark lending rate by 140 points since May, as it will remain focused on managing inflation.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Another factor that may influence the RBI\u2019s decision is the outcome of the US Federal Reserve\u2019s policy meeting next week. The US Fed is likely to increase interest rates by 75 basis points after inflation in the US came in above forecasts at 8.3% for August. In fact, even a 100-bps hike is not being ruled out.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Analysts and economists say central banks have few options but to focus firmly on controlling inflation even if it means an economic slowdown. Ratings firm Fitch, for instance, this week slashed India\u2019s economic growth forecast for the current fiscal year to 7% from 7.8% estimated in June. Fitch also cut next year\u2019s forecast to 6.7% from 7.4%.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Fitch has also cut global growth forecast, to 2.4% in 2022 from 2.9%. It forecasts the US will suffer a mild recession in mid-2023 and the euro zone as well as the United Kingdom will enter recession later this year.<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-4\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h3><img loading=\"lazy\" class=\"alignnone wp-image-16419\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/tbbt-the-big-bang-theory.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"225\" \/><\/h3>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h3><span class=\"ez-toc-section\" id=\"Market_wrap\"><\/span><strong>Market wrap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n<p>&nbsp;<\/p>\r\n<p>The markets traded mostly sideways this week before ending the five-day period about 1% lower amid weak global cues and after US stocks fell as inflation in the world\u2019s biggest economy surprised on the upside. The BSE Sensex topped 60,000 this week while the NSE Nifty 50 crossed 18,000, but both indices ended below the levels.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The Nifty 50 stocks that gained the most this week were IndusInd Bank, Adani Ports, and state-run companies Power Grid and NTPC. The Bajaj twins\u2014Bajaj Finance and Bajaj Finserv\u2014and Royal Enfield maker Eicher were among the other gainers.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Tech companies were among the top Nifty 50 losers during the week. Infosys, Tech Mahindra and TCS fell 6-8% each while HCL Tech lost around 5%. BPCL, two-wheeler makers Hero MotoCorp, Bajaj Auto and automaker Mahindra &amp; Mahindra were among the other losers.<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-5\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Other_headlines\"><\/span><strong>Other headlines:<\/strong><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\">Gautam Adani overtakes Jeff Bezos to become world&#8217;s second-richest man<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Tamilnad Mercantile Bank debuts with 3% discount at Rs 495<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Adobe agrees to acquire online design firm Figma for $20 billion<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Adani Wilmar eyes acquisitions to push food business<\/li>\r\n<\/ul>\r\n<ul>\r\n<li aria-level=\"1\">Axis MF study shows SIP route earns higher returns than lumpsum<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>ED lifts freeze on WazirX\u2019s bank accounts after investigation<\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">SEBI seeks details on startup valuation from PE, VC funds<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Tata Group plans to buy stake in Bisleri International<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>India IIP growth falls to four-month low of 2.4% in July<\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">In setback for NDTV, tax department says no bar on warrant conversion<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Goldman Sachs plans to cut several hundred jobs<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>HCL Tech lays off 350 working on Microsoft project<\/p>\r\n<\/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><strong>The week ahead<\/strong><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\">The DGCA will release India\u2019s domestic air passenger traffic data for August.<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>The US Fed\u2019s next Federal Open Market Committee meeting is scheduled for September 20-21.<\/p>\r\n<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\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>&nbsp;<\/p>\r\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/N1li1d9X0jw\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>&amp;lt;span data-mce-type=&#8221;bookmark&#8221; style=&#8221;display: inline-block; width: 0px; overflow: hidden; line-height: 0;&#8221; class=&#8221;mce_SELRES_start&#8221;&amp;gt;\ufeff&amp;lt;\/span&amp;gt;&amp;lt;span data-mce-type=&#8221;bookmark&#8221; style=&#8221;display: inline-block; width: 0px; overflow: hidden; line-height: 0;&#8221; class=&#8221;mce_SELRES_start&#8221;&amp;gt;\ufeff&amp;lt;\/span&amp;gt;<\/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 India\u2019s manufacturing sector, Vedanta\u2019s planned chip factory and the shelving of BPCL\u2019s privatisation. We also talk about inflation in India and the US, and Fitch\u2019s decision to slash growth forecasts. &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-when-doubt-prevails\/\">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":[801,297,1547,1546,248,67,386,300,302,394,689,1545],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When doubt prevails | Weekly Wrap<\/title>\n<meta name=\"description\" content=\"Business &amp; finance updates in a nutshell. Read about India\u2019s manufacturing sector, Vedanta\u2019s planned chip factory and the shelving of BPCL\u2019s privatisation, and global inflation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When doubt prevails | Weekly Wrap\" \/>\n<meta property=\"og:description\" content=\"Business &amp; finance updates in a nutshell. Read about India\u2019s manufacturing sector, Vedanta\u2019s planned chip factory and the shelving of BPCL\u2019s privatisation, and global inflation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-when-doubt-prevails\/\" \/>\n<meta property=\"og:site_name\" content=\"Kuvera\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kuvera.in\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-16T12:40:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-17T09:35:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/06\/Yellow-And-Green-Bold-Money-Blog-Banner-520x245-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"520\" \/>\n\t<meta property=\"og:image:height\" content=\"245\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gaurav Rastogi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:site\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gaurav Rastogi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"When doubt prevails | Weekly Wrap","description":"Business & finance updates in a nutshell. 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