{"id":17550,"date":"2022-10-14T18:26:29","date_gmt":"2022-10-14T12:56:29","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=17550"},"modified":"2022-10-15T11:43:59","modified_gmt":"2022-10-15T06:13:59","slug":"the-weekly-wrap-untangle-the-knots","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-wrap-untangle-the-knots\/","title":{"rendered":"The Weekly Wrap | Untangle The Knots"},"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-69d84da923c9e\" 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-69d84da923c9e\"><\/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-untangle-the-knots\/#RBIs_inflation_failure\" title=\"RBI\u2019s inflation failure\">RBI\u2019s inflation failure<\/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-untangle-the-knots\/#But_do_customers_care\" title=\"But do customers care?\">But do customers care?<\/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-untangle-the-knots\/#Job_losses_on_the_anvil\" title=\"Job losses on the anvil\">Job losses on the anvil<\/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-untangle-the-knots\/#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-untangle-the-knots\/#Mutual_fund_inflows\" title=\"Mutual fund inflows\">Mutual fund inflows<\/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-untangle-the-knots\/#Market_watch\" title=\"Market watch\">Market watch<\/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-untangle-the-knots\/#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-8\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-untangle-the-knots\/#The_week_ahead\" title=\"The week ahead\">The week ahead<\/a><\/li><\/ul><\/nav><\/div>\n<p><em>In this edition, <\/em><i><span style=\"font-weight: 400;\">we talk about the Tata-owned airlines and Tata Steel\u2019s likely exit from the UK. We also talk about the gloomy economic outlook, looming inflation, job cuts at ed-tech firm Byju\u2019s, and India\u2019s festive demand boom.<\/span><\/i><\/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-17550-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-audio-Oct-14.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-audio-Oct-14.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-audio-Oct-14.mp3<\/a><\/audio>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17593\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200-3.webp\" alt=\"\" width=\"400\" height=\"325\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">\u201cMergers are like marriages. They are the bringing together of two individuals,\u201d American author Simon Sinek once said. \u201cIf you wouldn\u2019t marry someone for the \u2018operational efficiencies\u2019 they offer in the running of a household, then why would you combine two companies with unique cultures and identities for that reason?\u201d\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The Tata Group will soon have to grapple with this question as it looks to simplify its aviation business that comprise four airlines\u2014two with different foreign partners and the other two formerly government-owned.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The conglomerate is looking to merge two of the four airlines it operates\u2014Vistara and Air India. While both these are full-service carriers, the other two\u2014Air India Express and AirAsia India\u2014are budget carriers.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Singapore International Airlines, which co-owns Vistara with the Tatas, said this week the two sides were in talks that could lead to a \u201cpotential integration\u201d of the two carriers. In plain speak, this could translate into Air India, which is fully owned by the Tatas, cannibalizing Vistara, which is 51% owned by the conglomerate.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">We do not know if the merger will eventually happen. But if it does, it could pave the way for a similar merger of Air India Express and AirAsia India. And if that happens, India\u2019s skies could look very different from how they do today.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">But hey, we are only speculating, so don\u2019t take our word for it, yet. We\u2019ll keep a hawk\u2019s eye on whatever happens and when we know, you\u2019ll know!<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">This is not all that the Tata Group made news for, this week. Tata Steel, India\u2019s biggest private-sector steelmaker, could be looking to exit the UK, in the absence of government support. The company, <\/span><i><span style=\"font-weight: 400;\">The Economic Times<\/span><\/i><span style=\"font-weight: 400;\"> reported, has little hope of getting a GBP 1.5 billion decarbonisation subsidy package for the transition to green energy.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">We\u2019ll spare you these boring technicalities, but here\u2019s what you need to know: Tata Steel owns the largest steelworks in the UK, at Port Talbot in South Wales, and employs as many as 8,000 people in the country. If the company were to exit its UK business, a few thousand people could be at the risk of losing their jobs. And this certainly won\u2019t be good news for the UK, which is already battling a big financial crisis.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"RBIs_inflation_failure\"><\/span><strong><b>RBI\u2019s inflation failure<\/b><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17592\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200w-4.webp\" alt=\"\" width=\"400\" height=\"226\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">While the Tata Group is busy untangling its aviation and steel businesses, India\u2019s central bank is firefighting inflation\u2014with little visible impact so far.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The RBI, in line with its peers like the US Federal Reserve, the Bank of England and the European Central Bank, has been raising lending rates ever since the Ukraine war began and inflation began to bite almost every major economy.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Since May, the RBI has raised lending rates by 190 basis points. But so far, that seems to have helped little. In September, India\u2019s consumer inflation rate spiked to a five-month high of 7.41% from 7% the month before. For the ninth month on the trot, inflation breached the RBI\u2019s target of keeping the number in the 2-6% band, by a mile.\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">This has forced the government to step in. A group of bureaucrats are set to meet next week to figure out a way of reigning in the cost of food and other essential commodities that are burning a hole in the common man\u2019s pocket.\u00a0 The government could further restrict food exports, go after hoarders and release buffer stock, to bring prices down.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">As a double whammy of sorts, India\u2019s industrial production in August fell 0.8% as manufacturing and mining output declined. This is the lowest level since a contraction of 3.2% in February 2021 and comes after July\u2019s 2.2% growth.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">All this is happening even as economic news keeps getting gloomier. The International Monetary Fund cut India\u2019s 2022 economic growth forecast to 6.8%, from its January estimate of 8.2% and the July projection of 7.4%. The revision followed a downgrade by the World Bank, which now expects the Indian economy to grow 6.5% this fiscal year. The RBI though seems to be the most optimistic of the lot, as it thinks India\u2019s GDP will grow 7% in 2022-23.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"But_do_customers_care\"><\/span><strong><b>But do customers care?<\/b><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17591\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200w-3.webp\" alt=\"\" width=\"400\" height=\"400\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Whatever be the data, the Indian consumers seem unfazed. India\u2019s festival spending has been booming despite such gloomy numbers, with online and offline sales during the September-November period likely to cross $27 billion this year, Reuters reported, citing industry estimates. The number is 25% higher than that of last year and nearly twice as much as the figure in the same period in 2019, before the COVID-19 pandemic hit the economy.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">As they get ready to celebrate Diwali and then Christmas and the New Year, Indian customers seem to be buying everything from houses to cars to white goods to travel packages to jewellery to, well, everything!\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">While more than $15 billion worth of these products are likely to be bought offline, online marketplaces like Amazon and Flipkart are estimated to sell goods in excess of $11 billion.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Little wonder, then, that auto sales hit another peak in September with more than 3.55 lakh passenger vehicles being sold, almost twice the number a year earlier. This breaks the previous high of 3.42 lakh vehicles sold in July.\u00a0\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Experts say this upsurge is owing to two years of pandemic fatigue, which has left consumers yearning for some fun.\u00a0<\/span><span style=\"font-weight: 400;\">So, let\u2019s pop some bubbly, shall we?\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Job_losses_on_the_anvil\"><\/span><strong><b>Job losses on the anvil<\/b><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17596\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/giphy-1.webp\" alt=\"\" width=\"400\" height=\"359\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">This euphoria though may be slightly misplaced and people could do with being a bit more cautious.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">If you are in the ed-tech space, you know how badly the sector has been doing over the past few months. And now, Byju\u2019s\u2014India\u2019s most valuable ed-tech company\u2014is set to lay off as many as 2,500 people over the next six months.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Byju\u2019s, which employs more than 50,000 people, said it is looking to rationalise its workforce \u201cacross product, content, media, and technology teams in a phased manner.\u201d<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">For startups like Byju\u2019s, the writing on the wall is, well, clear\u2014downsize and cut cash burn, or shut shop.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">This contagion may not be limited just to Byju\u2019s or the ed-tech sector alone. A spate of job losses could hit the entire Indian startup space as funding begins to dry up and venture capital investors ask companies to cut down on spending and move towards profitability. So, once the festive cheer has died down, hundreds of thousands of employees and their families who depend on the new-age tech-enabled jobs may face a stark reality check.\u00a0<\/span><\/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=\"Mutual_fund_inflows\"><\/span><strong><b>Mutual fund inflows<\/b><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17597\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200-4.webp\" alt=\"\" width=\"400\" height=\"301\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The Indian markets may have been volatile in recent weeks but <a href=\"https:\/\/kuvera.in\/mutual-funds\/all\">mutual fund<\/a> investors remained largely unaffected in September as inflows via Systematic Investment Plans rose 2% month on month to Rs 12,980 crore, according to the Association of Mutual Funds in India.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Net inflows into equity mutual fund schemes, which had declined for three straight months to hit a 10-month low of Rs 6,100 crore in August, spiked 130% on a month-on-month basis to Rs 14,100 crore. Debt funds though did not find favour with investors as they saw outflows of Rs 65,000 crore with liquid funds alone losing Rs 60,000 crore.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Market_watch\"><\/span><strong><b>Market watch<\/b><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The markets opened lower on Monday and then remained mostly flat until Thursday. But on Friday, investors turned bullish and both the benchmark indices, the Sensex and the Nifty, jumped as much as 2% in intra-day trading before paring the gains. The two indices ended the week almost at the same level as last week.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The IT pack was a mixed bag of sorts. Infosys rode on a 11% jump in profits and was up 4% on Friday and 1.5% during the week. Wipro ended the week down 7.4% as the markets punished the counter after it reported a 9% drop in profits for the July-September quarter.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">HCL Technologies posted a 7% rise in its consolidated net profit for the September quarter at Rs 3,489 crore. The Street rewarded this performance as the stock was up 4.7% as the week ended. TCS also ended in the green after exceeding analysts\u2019 forecasts for Q2 earnings.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The week\u2019s other best-performing <a href=\"https:\/\/kuvera.in\/stocks\/listing\/all\">stocks<\/a> were Axis Bank, Coal India, Sun Pharma, Kotak Mahindra Bank, HDFC Bank and HDFC. The top losers were SBI Life Insurance, ONGC, Asian Paints, and Adani Ports.\u00a0<\/span><\/p>\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\"><span style=\"font-weight: 400;\">Former US Federal Reserve Chair Ben S Bernanke and American economists Douglas W Diamond and Philip H Dybvi win Nobel Prize in Economics for 2022<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Malaysia\u2019s IHH Healthcare begins talks with SEBI over stalled open offer for Fortis<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Government approves one-time grant of Rs 22,000 crore to state-run fuel retailers for cooking gas sale<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wholesale inflation eases to 10.7% in September from 12.41% in August<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>Mindtree tops estimates as Q2 profit jumps 27.5% to Rs 509 crore<\/p>\r\n<\/li>\r\n<\/ul>\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\"><span style=\"font-weight: 400;\">The earnings season will pick up pace next week. Hindustan Unilever, PVR, Asian Paints, Bajaj Finance and Bajaj Finserv, Axis Bank and several other lenders will report Q2 results.\u00a0<\/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>&nbsp;<\/p>\r\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/f7yfzUhQDiM\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/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 Tata-owned airlines and Tata Steel\u2019s likely exit from the UK. We also talk about the gloomy economic outlook, looming inflation, job cuts at ed-tech firm Byju\u2019s, and India\u2019s festive demand boom. &nbsp; Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, finance and markets. 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