{"id":16711,"date":"2022-09-23T18:33:20","date_gmt":"2022-09-23T13:03:20","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=16711"},"modified":"2022-09-23T18:33:37","modified_gmt":"2022-09-23T13:03:37","slug":"the-weekly-wrap-niagara-falls-viagra-rises","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-wrap-niagara-falls-viagra-rises\/","title":{"rendered":"The Weekly Wrap | Niagara falls, Viagra rises."},"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-69d839da69f94\" 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-69d839da69f94\"><\/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-niagara-falls-viagra-rises\/#Ra-ra_Ras-Putin%E2%80%A6\" title=\"\u201cRa-ra Ras-Putin\u2026\u201d\">\u201cRa-ra Ras-Putin\u2026\u201d<\/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-niagara-falls-viagra-rises\/#Tata_Steels_Mega_Deal\" title=\"Tata Steel\u2019s Mega Deal\">Tata Steel\u2019s Mega Deal<\/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-niagara-falls-viagra-rises\/#Singh_is_no_longer_king\" title=\"Singh is no longer king\">Singh is no longer king<\/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-niagara-falls-viagra-rises\/#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-5\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-niagara-falls-viagra-rises\/#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-6\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-niagara-falls-viagra-rises\/#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-niagara-falls-viagra-rises\/#The_week_ahead\" title=\"The week ahead\">The week ahead<\/a><\/li><\/ul><\/nav><\/div>\n<p>In this edition, we talk about the falling Indian rupee and rising interest rates. We also talk about the Ukraine war, Tata Steel&#8217;s mega merger and the Singh brothers, Malvinder and Shivinder, who will spend the next six months in jail.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><i><\/i>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-16711-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/Kuvera-NL-audio-Sept-23.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/Kuvera-NL-audio-Sept-23.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/Kuvera-NL-audio-Sept-23.mp3<\/a><\/audio>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-16715\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/sbs-singlebysundaygifs.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"356\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Now before you get any funny ideas, this is still your weekly newsletter and we\u2019re just being, well, a little cheeky here as we quote American author Stewart Stafford, completely out of context, of course. (Give us a pass, will you? Pretty please?)<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The Indian rupee you see, has been falling, as interest rates have been rising (out of context, we told you\u2026right?) and more of that happened this week.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>In the week gone by, the rupee sank to its lowest against the greenback (that\u2019s the US dollar, in case you didn&#8217;t know), even as the US Federal Reserve and nearly half a dozen other central banks upped their interest rates to levels not seen in a long, long time.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The Indian currency on Friday hit an all-time low of 81 to the US dollar, with little indication that its decline is likely to be arrested anytime soon.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>In fact, this was the seventh out of eight sessions when the rupee went south, losing more than 2.5% in the period, going down to a low of 81.15. So far, this year, the currency has lost almost 9%.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The Reserve Bank of India (RBI), which often intervenes whenever the rupee goes down by flooding the market with US dollars, is likely to keep a stand-off-ish approach this time, say analysts.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>But to be fair, the RBI has its hands tied. Why, you may ask? For one, India\u2019s foreign exchange reserves have plunged in recent months. The RBI has spent more than $80 billion so far this year to protect the rupee.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>India had forex reserves of $550.8 billion as of Sept. 9, down from a record high of $642.4 billion last year. While this may not be a reason for panic yet, it is certainly a matter of concern. Especially when you consider that the drop in forex reserves comes at a time when India\u2019s trade deficit has been widening as growth in imports has far outpaced the expansion in exports.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Moreover, the liquidity of the Indian banking system has slipped into a deficit and the country\u2019s current account deficit looks set to hit its highest level in more than eight years.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The RBI\u2019s stand will become clear next week when its Monetary Policy Committee meets to take a call on a rate hike.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>While the Indian central bank makes up its mind on how to stem the fall in the country\u2019s currency, the US Fed seems to have its stance clear. This week, the Fed raised its benchmark lending rate by 75 basis points (bps), and surprised global markets by projecting further significant hikes over the next few months. This, even as the Fed\u2019s projections showed higher inflation and a slowdown in economic growth.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The US Fed was not the only one continuing to firefight. Central banks of Switzerland, Sweden, South Africa, Indonesia, Norway and the Bank of England, all announced significant rate hikes this week, as inflation continues to singe the world.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Will the RBI follow suit? We\u2019ll tell you next week!<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Ra-ra_Ras-Putin%E2%80%A6\"><\/span><strong>\u201cRa-ra Ras-Putin\u2026\u201d<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>Sorry Boney M fans, we are again only trying our hand at humour but clearly, failing badly.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Well, so is Russian President Vladimir Putin.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Seven months after he unilaterally invaded Ukraine, his forces have made little progress, and have even had to retreat from large parts of the former Soviet country, which has had a frosty relationship with Russia for the better part of the last three decades. The war has already left thousands of Ukrainian civilians and soldiers on both sides dead, and has crippled the county\u2019s infrastructure.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>This week, Putin, his back against the wall, ordered partial general mobilisation in Russia, as he looks ready to escalate the war. Following his announcement, Russian men of fighting age were barred from leaving the country, even as flights out of the county were booked to capacity and all border crossings were jammed by people trying to leave Russia as soon as they could.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>If he does escalate the war, the world at large will be on tenterhooks again and already high commodity prices could rise to record levels, further hurting emerging economies like India that depend on crude oil imports to meet most of their energy needs.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>We sure will be keeping a close eye on whatever happens. In the meanwhile, brace for impact!<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-16717\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/modern-family-pray.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"225\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Tata_Steels_Mega_Deal\"><\/span><strong>Tata Steel\u2019s Mega Deal<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><br \/>Back home, in a \u2018mega merger\u2019 of sorts, the Tata Group this week decided to merge seven of its group companies into Tata Steel. This, the Tata Group says, will consolidate its metals businesses and drive efficiencies.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Tata Steel will absorb Tata Steel Long Products, Tata Metaliks, The Tinplate Company of India, TRF, Indian Steel &amp; Wire Products, Tata Steel Mining and S&amp;T Mining.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The mergers will be carried out via a series of share swaps among group entities, and will help the conglomerate pool the resources of the merged entities.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Interestingly, this comes just months after the Adani Group announced multi-billion-dollar forays into the steel, iron ore and aluminium sectors, in what could prove to be a major challenge to India\u2019s biggest private sector steelmaker.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Singh_is_no_longer_king\"><\/span><strong>Singh is no longer king<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-16716\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/bad-boys-martin-lawrence.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"220\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The lives of brothers Malvinder and Shivinder Singh (of Ranbaxy, Fortis and Religare fame, may we remind), have played out like a Greek tragedy over the last few years.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>This week, it all came to a head when India\u2019s Supreme Court ordered that the two former billionaires be jailed for six months in a case filed by Japanese drugmaker Daiichi-Sankyo.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The apex court also ordered a forensic audit of the deal in which Malaysia\u2019s IHH Healthcare had, in 2018, acquired a 31% stake in Fortis by paying $1.1 billion after a bidding process overseen by an independent board.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The top court jailed the two brothers for failing to comply with its orders to pay an arbitral amount to Daiichi. The contempt of court case had been registered by the Supreme Court in 2019.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The entire case is complicated, so we will spare you the details. Suffice to say that this is not the end of the case and the Singh brothers may well face more heat going forward.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><strong>Market Wrap<\/strong><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>This wasn\u2019t a terribly great week for the Indian markets, as you can imagine, with the Fed\u2019s rate hike and the possible Russian escalation bearing down heavily on them.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Both the benchmark indices\u2014Sensex and Nifty\u2014ended the week in the red. While the Sensex was down by more than 1.3%, the Nifty did a tad better, losing 1.2% over the last five days of trading.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The top Nifty 50 stocks that gained the most this week were pharma majors Sun Pharma and Cipla, FMCG companies Hindustan Unilever and ITC, and jewellery and watch maker Titan.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Other counters among the gainers were Bajaj Finance, Britannia India, Eicher Motors, Maruti Suzuki and Dr. Reddy\u2019s Laboratories.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Among the top Nifty losers were Power Grid Corp, Indiabulls Housing, Vedanta, Ultratech Cement and Bharat Petroleum Corporation Ltd.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Other stocks that left their investors poorer this week included Indian Oil Corp, Hindalco, GAIL India, Grasim Industries, NTPC and Coal India.<\/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=\"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\">Adani Group pledges stake worth $13 billion in ACC, Ambuja Cements<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Wipro sacks 300 employees for moonlighting<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Govt starts process to sell two subsidiaries of erstwhile national carrier Air India<\/li>\r\n<\/ul>\r\n<ul>\r\n<li aria-level=\"1\">Oyo attempts to revive IPO plan as SoftBank slashes valuation<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>Ola to sack 200 employees across software teams<\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">HDFC MF announces NFOs of Nifty200 Momentum 30 ETF and Nifty100 Low Volatility 30 ETF<\/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\">\r\n<p>All eyes will be on the meeting of the RBI\u2019s monetary policy committee.<\/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 the falling Indian rupee and rising interest rates. We also talk about the Ukraine war, Tata Steel&#8217;s mega merger and the Singh brothers, Malvinder and Shivinder, who will spend the next six months in jail. &nbsp; Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-niagara-falls-viagra-rises\/\">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":[801,1590,1591,248,386,1588,300,302,1589,394,1587,689,215],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Niagara falls, Viagra rises | Weekly Wrap<\/title>\n<meta name=\"description\" content=\"Business &amp; finance updates in a nutshell. 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