{"id":17784,"date":"2022-10-21T19:01:27","date_gmt":"2022-10-21T13:31:27","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=17784"},"modified":"2022-10-22T01:36:08","modified_gmt":"2022-10-21T20:06:08","slug":"the-weekly-its-all-so-fogged-up","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-its-all-so-fogged-up\/","title":{"rendered":"The Weekly Wrap | It\u2019s All So Fogged Up"},"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-69d0f4b6e86eb\" 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-69d0f4b6e86eb\"><\/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-its-all-so-fogged-up\/#India_tech_stack\" title=\"India tech stack\">India tech stack<\/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-its-all-so-fogged-up\/#Rupee-dollar\" title=\"Rupee-dollar \">Rupee-dollar <\/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-its-all-so-fogged-up\/#Growth-inflation\" title=\"Growth-inflation\">Growth-inflation<\/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-its-all-so-fogged-up\/#The_lettuce_wins\" title=\"The lettuce wins\">The lettuce wins<\/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-its-all-so-fogged-up\/#Corporate_conundrums\" title=\"Corporate conundrums\">Corporate conundrums<\/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-its-all-so-fogged-up\/#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-its-all-so-fogged-up\/#Earnings_Snapshot\" title=\"Earnings Snapshot\">Earnings Snapshot<\/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-its-all-so-fogged-up\/#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-9\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-its-all-so-fogged-up\/#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<\/span><\/i><i><span style=\"font-weight: 400;\">\u00a0tech companies and how they are preparing for a slowdown. We also talk about the rupee\u2019s continued weakness, the growth-inflation debate, and the dispute among the Kirloskar brothers.<\/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-17784-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-audio-NL-Oct-21.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-audio-NL-Oct-21.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-audio-NL-Oct-21.mp3<\/a><\/audio>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17801\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200-5.webp\" alt=\"\" width=\"400\" height=\"377\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">When the Covid-19 pandemic first began to spread worldwide two-and-a-half years ago, companies and businesses across sectors worldwide faced massive disruption. Well, not all sectors actually. One sector defied the trend.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">No points for guessing the sector\u2014technology. Demand for technology professionals touched the Cloud and tech earnings as well as stocks Zoomed (puns intended) as organizations both private and public required digital tools to stay functional. This, in turn, had several other effects. Attrition soared. Wages climbed. Tech startups raised billions of dollars from venture capital and private equity investors. And many of them floated IPOs as tech stocks soared.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The two-year euphoria has now ended. And how! <\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Sample this: Microsoft, the maker of Windows, is laying off 1,000 employees. Netflix, the savior of many a people locked up inside their homes during the pandemic, is letting go hundreds of employees. Snap, the parent of messaging app Snapchat, is firing 20% of its staff. Facebook parent Meta, Google parent Alphabet as well as chipmakers Intel, AMD and Nvidia are also either freezing hiring or cutting jobs.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Why are global tech companies tightening their belts? Well, they are just responding to an economic turmoil that is now playing out in much of the western world\u2014high inflation, rising interest rates and an impending recession.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Their stocks reflect this fear. Google, Amazon and Microsoft have each lost almost a third of their value year to date. Netflix has dropped by more than half. Meta has slumped 60%. Snap is worth only a fourth of what it was at the start of 2022. For perspective, the S&amp;P 500 has lost only about a fifth of its value in the same period.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">So, now you know why that international mutual fund in your portfolio is down in the dumps.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"India_tech_stack\"><\/span><b>India tech stack<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17802\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200-6.webp\" alt=\"\" width=\"400\" height=\"305\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Okay, got it. So, US tech companies have a lot on their plate. But Indian tech companies\u2014and the Indian economy\u2014are doing just fine, right? After all, the Sensex and Nifty are staying strong, no?\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Yes, the two indices are flat year to date. But here\u2019s how the tech pack has performed: Legacy IT services giants TCS, Infosys and HCL Tech have dropped around 20% each. Wipro and Tech Mahindra have slumped more than 40%. Paytm, Policybazaar and Nasdaq-listed Freshdesk are all down more than 60%.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">It\u2019s not just the stocks. IT companies are preparing for a recession in the US and Europe by controlling costs. Already, they are slowing hiring and moderating wage hikes as demand cools and attrition levels start to come down. Startup funding has fallen, too, and many of these ventures have deferred their planned IPOs.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">And let\u2019s not treat the Sensex as the barometer of the economy\u2014a mistake that much of the press often makes.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">How long will this uncertainty last? Well, it\u2019s only just starting to get foggy\u2014or smoggy if you live in Delhi-NCR\u2014and it will take a while before the fog lifts.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Meanwhile, Infosys is now allowing employees to take up \u2018gig\u2019 jobs on the side. The rider is that such jobs should be taken up with prior consent of managers and shouldn\u2019t cause a conflict of interest.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Is that another way of saying employees can augment their income by other means because salary hikes will be modest? Or is it just about accepting the reality of moonlighting? We\u2019ll keep an ear on the raging debate!<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Rupee-dollar\"><\/span><strong><b>Rupee-dollar <\/b><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Talking about foggy outlook, the Indian rupee continues to weaken against the US dollar\u2014it fell below 83 this week and is now projected to touch 85 in a few months. Oh sorry, the rupee isn\u2019t really weakening. It\u2019s the dollar that\u2019s strengthening. Yes, that\u2019s the argument Finance Minister Nirmala Sitharaman offered recently\u2014to much ridicule.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">To be fair, Sitharaman isn\u2019t totally wrong. The dollar has strengthened against a whole basket of currencies, and not just against the rupee. But irrespective of the terminology we use, the fact is a weak rupee makes India\u2019s imports costlier, feeds into inflation, jacks up the trade deficit, reduces forex reserves, leads to foreign capital outflows and weakens the economy. So, let\u2019s not get confused and let\u2019s get our house in order, please?<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Growth-inflation\"><\/span><strong><b>Growth-inflation<\/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-17803\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200w-7.webp\" alt=\"\" width=\"400\" height=\"226\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Meanwhile, a member of the Reserve Bank of India\u2019s monetary policy committee has said the central bank should now hold interest rates to avoid stalling an economic recovery.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Wait, what? Hasn\u2019t everyone been saying the RBI should increase rates to control inflation that has remained above its target for the past many months?\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Indeed, that\u2019s true. The RBI has lifted rates by 190 basis points since May. Add other liquidity tightening measures, and the overall impact would be around 250 basis points, according to MPC member Jayant Varma.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Varma was among the earliest to push for rate hikes. But at the MPC\u2019s most recent meeting late last month he cautioned about weak growth. \u201cIt is dangerous to push the policy rate well above the neutral rate in an environment where the growth outlook is very fragile,\u201d he said, according to the minutes of the meeting released late last week.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">What explains this apparent about-turn? Well, you see, monetary policy transmission acts with a lag of a few quarters. So, the impact of the rate hikes will begin showing only by next year. Varma argues that if the RBI keeps increasing rates for too long, it will severely impact GDP growth.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">For those unfamiliar or uninterested in how monetary policy works, think of it as drinking whiskey or vodka or whatever your poison is. You take one sip and feel nothing. So, you take another. And another. And another. Until you get a brain fog and wake up with a hangover!<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"The_lettuce_wins\"><\/span><strong><b>The lettuce wins<\/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-17804\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/200w-8.webp\" alt=\"\" width=\"400\" height=\"220\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">If you think India\u2019s situation is cloudy, just look at the UK for some comfort. Liz Truss resigned this week after just six weeks as British prime minister. Truss quit after the unplanned tax cuts she announced\u2014and later retracted\u2014dragged the pound lower, pushed borrowing costs higher, roiled financial markets, and drove investors away.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The chaos comes as the UK stares at recession and inflation stays at a 40-year high. Truss\u2019 short tenure was so bad that the tabloid Daily Star had even started a live feed showing a lettuce next to her photo, asking readers: \u201cWhich wet lettuce will last longer?\u201d Her resignation prompted the tabloid to declare victory.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Corporate_conundrums\"><\/span><b>Corporate conundrums<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Back home, Indians are busy shopping for Diwali. And so were billionaires Gautam Adani and Mukesh Ambani. Adani bought aviation services firm Air Works for Rs 400 crore while Ambani purchased a Dubai villa for Rs 1,350 crore.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Meanwhile, the dispute among the Kirloskar brothers over a family settlement ignited this week. <\/span><span style=\"font-weight: 400;\">The dispute involves Sanjay\u00a0<\/span><span style=\"font-weight: 400;\">Kirloskar<\/span><span style=\"font-weight: 400;\">, who controls <\/span><span style=\"font-weight: 400;\">Kirloskar<\/span><span style=\"font-weight: 400;\">\u00a0Brothers\u00a0Ltd (KBL), against his brothers Rahul and Atul, who run <\/span><span style=\"font-weight: 400;\">Kirloskar<\/span><span style=\"font-weight: 400;\">\u00a0Ferrous Industries,\u00a0<\/span><span style=\"font-weight: 400;\">Kirloskar<\/span><span style=\"font-weight: 400;\">\u00a0Oil Engines and <\/span><span style=\"font-weight: 400;\">Kirloskar<\/span><span style=\"font-weight: 400;\">\u00a0Pneumatic Co.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Rahul\u00a0and Atul\u00a0Kirloskar\u00a0have accused KBL of misusing shareholder funds. KBL has dismissed the allegations. The brothers are also fighting a court battle. Sanjay accuses the other two of violating the family settlement and a non-compete clause. KBL had also accused Rahul and Atul of <\/span><span style=\"font-weight: 400;\">insider trading, but the Securities Appellate Tribunal has cleared those charges. The dispute, of course, is far from over, and we will watch it keenly.<\/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 stock markets shrugged off worries about inflation and growth to clock gains in the pre-Diwali week. The BSE Sensex rose about 2% this week while the NSE Nifty rose almost 2.4%, led by banking and FMCG stocks.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Axis Bank led the gains this week, rising 12%, followed by State Bank of India and Nestle. Other winners this were included SBI Life Insurance, Reliance Industries, ITC, ICICI Bank and Kotak Mahindra Bank.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">JSW Steel, Asian Paints, IndusInd Bank and Hindalco were among the top losers.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Earnings_Snapshot\"><\/span><b>Earnings Snapshot<\/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\">\r\n<p><span style=\"font-weight: 400;\">Nestle India July-September profit up 8.3%, net sales grow 18%<\/span><\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">ITC Q2 profit rises 20% to Rs 4,466 crore, tops market estimates<\/span><\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">UltraTech Q2 profit slips 42% to Rs 756 crore on higher energy costs<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">Axis Bank Q2 net profit soars 70% to Rs 5,329 crore<\/span><\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">Bajaj Finance Q2 profit surges 88% to Rs 2,781 crore<\/span><\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>IndusInd Bank Q2 profit climbs 57% to 1,805 crore; net interest income up 18%<\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>PVR Q2 loss narrows to Rs 71.2 crore from Rs 153 crore a year ago, but bigger than forecasts<\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">Inox Leisure Q2 net loss narrows to Rs 40.37 crore from Rs 87.7 crore rupees a year earlier<\/span><\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">Asian Paints Q2 profit up 31% at Rs 783 crore, sales rise 18.8%<\/span><\/p>\r\n<\/li>\r\n<\/ul>\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;\">Tracxn Technologies gains over 16% on listing day<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CCI <\/span><span style=\"font-weight: 400;\">imposes Rs 1,338 crore penalty on Google for unfair trade practices<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">V<\/span><span style=\"font-weight: 400;\">-Mart Retail acquires fashion commerce startup LimeRoad<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">Auto-tech startup Droom drops IPO plan<\/span><\/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 markets will be closed on Monday and Wednesday next week, except for Muhurat trading on Diwali<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">ICICI Bank, Kotak Mahindra Bank will release earnings over the weekend. Dabur, Dr Reddy\u2019s, Maruti and Tata Power will report results next week.<\/span><\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>Until next week, happy investing and a very happy Diwali!<\/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\u00a0tech companies and how they are preparing for a slowdown. We also talk about the rupee\u2019s continued weakness, the growth-inflation debate, and the dispute among the Kirloskar brothers. &nbsp; Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, finance and markets. &nbsp; tl;dr\u00a0Hear the article in [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-its-all-so-fogged-up\/\">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":[1792,1238,248,1790,1791,1793,67,300,1267,1226],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>It\u2019s All So Fogged Up | Weekly Wrap<\/title>\n<meta name=\"description\" content=\"Business &amp; finance updates in a nutshell. 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