{"id":18411,"date":"2022-11-11T18:38:49","date_gmt":"2022-11-11T13:08:49","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=18411"},"modified":"2022-11-12T11:51:04","modified_gmt":"2022-11-12T06:21:04","slug":"the-weekly-wrap-chaos-in-the-cosmos","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-wrap-chaos-in-the-cosmos\/","title":{"rendered":"The Weekly Wrap | Chaos in the Cosmos"},"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-69d27225eac06\" 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-69d27225eac06\"><\/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-chaos-in-the-cosmos\/#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-2\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-chaos-in-the-cosmos\/#FTX_blows_up\" title=\"FTX blows up\">FTX blows up<\/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-chaos-in-the-cosmos\/#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-4\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-chaos-in-the-cosmos\/#Ambani-Adanis_new_battleground\" title=\"Ambani-Adani\u2019s new battleground\">Ambani-Adani\u2019s new battleground<\/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-chaos-in-the-cosmos\/#Modis_return\" title=\"Modi\u2019s return\">Modi\u2019s return<\/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-chaos-in-the-cosmos\/#Yellen_comes_calling\" title=\"Yellen comes calling\">Yellen comes calling<\/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-chaos-in-the-cosmos\/#Changes_coming_to_capital_gains_tax\" title=\"Changes coming to capital gains tax?\">Changes coming to capital gains tax?<\/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-chaos-in-the-cosmos\/#Market_wrap\" title=\"Market wrap\">Market wrap<\/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-chaos-in-the-cosmos\/#Other_headlines\" title=\"Other headlines:\">Other headlines:<\/a><\/li><\/ul><\/nav><\/div>\n<p><em>In this edition, <i><span style=\"font-weight: 400;\">we talk about<\/span><\/i><\/em><i><span style=\"font-weight: 400;\">\u00a0Meta firing 11,000 employees, the collapse of cryptocurrency exchange FTX, a new tussle between Ambani and Adani, and some likely changes to the capital gains tax regime.<\/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-18411-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/Kuvera-NL-audio-Nov-11-1.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/Kuvera-NL-audio-Nov-11-1.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/Kuvera-NL-audio-Nov-11-1.mp3<\/a><\/audio>\r\n<h4><span class=\"ez-toc-section\" id=\"i\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-18424\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/facebook-zuckerberg.gif\" alt=\"\" width=\"400\" height=\"225\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>\u201cMost companies that go through layoffs are never the same. They don\u2019t recover because trust is broken,\u201d Ben Horowitz, co-founder and general partner at the marquee venture capital firm Andreessen Horowitz, once said. \u201cAnd if you&#8217;re not honest at the point where you\u2019re breaking trust anyway, you will never recover.\u201d<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><br \/>Billionaires Elon Musk and Mark Zuckerberg should take Horowitz\u2019s words seriously, for, if they don\u2019t, they may be in deep trouble going forward.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><br \/>Less than a week after Musk fired half the employees at Twitter, Zuckerberg followed suit with a whopping 11,000 job cuts worldwide\u2014or 13% of the workforce\u2014at Facebook parent Meta, including many in India. The only saving grace was that Zuckerberg was, well, more graceful, than Musk.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><br \/>\u201cI want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I\u2019m especially sorry to those impacted,\u201d he said in a blog post. \u201cI got this wrong.\u201d<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><br \/>Meta has been facing the heat due to the rise of Chinese short-video app TikTok, Apple Inc\u2019s privacy changes that hurt ad revenue and, perhaps most importantly, Zuckerberg\u2019s decision to pump billions of dollars into the immersive online world called the metaverse.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><br \/>To be sure, Twitter and Meta are not the only tech majors that have cut jobs. Several tech companies across the world have let people go, as funding dries up, stocks plunge and the global economy stares at a recession.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><br \/>This situation could only get worse. So, as an investor betting on the Indian and global <a href=\"https:\/\/kuvera.in\/stocks\/listing\/all\">stocks<\/a> in general, and tech stocks in particular, you may want to be cautious. As we always say, invest, but invest wisely!<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"FTX_blows_up\"><\/span><b>FTX blows up<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-18414\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/bh187-amrageddon.gif\" alt=\"\" width=\"400\" height=\"165\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">While traditional tech companies are cutting costs, cryptocurrency companies seem to be facing armageddon.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">A case in point is FTX, once the world\u2019s second biggest cryptocurrency exchange. The company, founded by Sam Bankman-Fried in 2019 and valued at $32 billion in January this year, just exploded like a supernova.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">To be sure, cryptocurrency markets have been royally hammered since the beginning of 2022, with bitcoin and other cryptocurrencies losing more than two-thirds of their value. As interest rates rose and stock markets corrected, many crypto companies and exchanges faced a liquidity crisis. But there was more to the FTX collapse. It was on a roll till July\u2014offering to buy bankrupt crypto lender Voyager Digital and planned a new exchange in Dubai.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">But the following month things began to unravel as FTX was asked by a US regulator to stop \u201cfalse and misleading\u201d claims about its funds being insured by the country\u2019s government. This unleashed a chain of events that spiralled out of hand. It all came to a head earlier this month when the value of its own token, FTT, plunged by as much as 72%.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The worst part of it all is there is little hope of a bailout after FTX competitor and the world\u2019s biggest crypto exchange, Binance, walked away from a potential deal to acquire it\u2014just days after announcing the transaction.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Meanwhile, marquee investors like Singapore\u2019s Temasek, Japan\u2019s SoftBank and US-based investors Tiger Global and Sequoia Capital may have all lost hundreds of millions of dollars in this fiasco.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">So, take our advice, stay away from cryptocurrencies for now. Invest in <a href=\"https:\/\/kuvera.in\/explore\/mf\/c\/all\">mutual funds<\/a>, debt funds, <a href=\"https:\/\/kuvera.in\/explore\/fixed-deposit\/c\/all\">fixed deposits<\/a>, bonds and <a href=\"https:\/\/kuvera.in\/stocks\/listing\/all\">stocks<\/a>. Stick to what you know and understand best.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\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=\"Ambani-Adanis_new_battleground\"><\/span><b>Ambani-Adani\u2019s new battleground<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-18415\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/the-rock-hulk-hogan.gif\" alt=\"\" width=\"400\" height=\"400\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Back home, India\u2019s two richest men\u2014Gautam Adani and Mukesh Ambani\u2014are set to fight it out to acquire bankrupt retailer Future Retail. Reliance Retail Ventures and a joint venture between Adani Airport Holdings and the Flemingo Group are vying for the Kishore Biyani-founded retailer. Apart from these two, at least 13 others are also in the fray.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The Future Group was pushed into bankruptcy after it defaulted on loans and after its lenders rejected a $3.4 billion plan to sell its assets to Reliance, as it faced a legal challenge from e-commerce giant Amazon.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">We certainly are in for some interesting times ahead, as the two Gujarati businessmen also fight for supremacy, across other sectors including renewable energy. Could Adani also enter the telecom sector to challenge Ambani\u2019s Jio? Our guess is only as good as yours, but keep watching this space, we tell you!\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Modis_return\"><\/span><b>Modi\u2019s return<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-18416\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/were-going-to-get-you-home-peter-parker.gif\" alt=\"\" width=\"400\" height=\"225\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">No, we are not talking about Prime Minister Narendra Modi, who is very much in the country, and nor are we talking about former Indian Premier League chairman Lalit Modi, who has been outside the country for reasons known best only to him. We are talking about fugitive diamond merchant Nirav Modi, who is lodged in a UK prison.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Last week, the UK High Court rejected Modi\u2019s appeal against his extradition to India where he is wanted for pulling off the Rs 14,000 crore Punjab National Bank scam.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Modi, along with his uncle Mehul Choksi, allegedly cheated PNB by creating a complex web of deception through fraudulent letters of undertaking, in collusion with bank officials.\u00a0\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">India has welcomed the verdict. But there is no clarity on when, and if, Modi will be back.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Oh, but what about Choksi and that other fugitive Vijay Mallya, you ask? Come on, give us a break!\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Yellen_comes_calling\"><\/span><b>Yellen comes calling<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The US treasury secretary Janet Yellen is on her first ever trip to India, aiming to strengthen bilateral economic ties.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Yellen is pitching for a new global trade route, calling for \u201clike-minded countries\u201d to come together to move away from \u201crisky countries\u201d such as China, on which they have been \u201coverly dependent\u201d for \u201ccritical inputs.\u201d\u00a0\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">\u201cWe are proactively deepening economic integration with trusted trading partners like India,\u201d she said.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">This should be music to the ears of Indian policy wonks and politicians who have been arguing pretty much the same thing. But as always, such tectonic shifts are often much slower and tougher to achieve owing to the interdependencies of the global economic world.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Moreover, China is already the world\u2019s second-biggest economy, and as such, no babe in the woods. Beijing will do everything in its might to defend its clout and its position in the global economic order.\u00a0\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Changes_coming_to_capital_gains_tax\"><\/span><b>Changes coming to capital gains tax?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-18417\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/200w-17.webp\" alt=\"\" width=\"400\" height=\"216\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">If you are a stock market or a mutual fund investor, this could be important for you. The government is reportedly looking to simplify the capital gains tax regime and bring parity within the assets. The government may even consider changing the tax rates, reports say.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Currently, equities and preference shares, equity-based mutual funds and zero-coupon bonds are considered long-term assets if held for over 12 months. Debt mutual funds and jewellery are considered long-term assets if held for 36 months. And real estate is regarded as a long-term asset if held over 24 months.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">As per the recommendation of a task force, the assets must be categorised into three classes\u2014equity, non-equity financial assets and other property. It recommended that the indexation benefit must be given to all except equity. It is currently allowed on debt funds and real estate.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">It further recommended a 10% capital gains tax on the sale of equity assets held for over 12 months. For equity held for less than 12 months, it asked for a 15% short-term capital gains tax. However, for non-equity financial assets, long-term capital gains were recommended to be 20% if held over 24 months. For other assets, it recommended a 20% tax with indexation on gains if held for over 36 months.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Phew! That\u2019s a lot of mumbo jumbo, right? But this could be useful, so, watch out for some of these changes when Finance Minister Nirmala Sitharaman delivers her budget speech next year.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Market_wrap\"><\/span><strong><b>Market wrap<\/b><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Both the benchmark Sensex and Nifty ended the week firmly in the green, up about 1.4% each. The markets rallied owing to three main reasons. First, retail inflation in the US rose by less than 0.4% for October and 7.7% from a year ago. This was the lowest annual increase in US inflation since January.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Second, foreign portfolio investors have bought equities worth Rs 18,979 crore in the first 10 days of November after selling shares worth Rs 7,630 crore in September and October.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Third, the US dollar index slumped, pushing the rupee up against the greenback. The rupee opened at a seven-week high of 80.71 on Friday with a 110-paise gain, the highest opening gain since September 2013.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The Nifty stocks that gained the most this week were Britannia, Adani Ports, Yes Bank, Tata Steel and UPL. Other winners were HDFC Bank, Vedanta, State Bank of India, and HDFC.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The counters that were in the red this week included Power Grid Corp, NTPC, Eicher Motors, Mahindra &amp; Mahindra and Sun Pharmaceuticals. Others that left investors poorer were Cipla, GAIL, Tech Mahindra, Titan and Asian Paints.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/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;\">Elon Musk warns Twitter bankruptcy possible if cash burn doesn\u2019t stop<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Zomato net loss narrows to Rs 251 crore in Q2, revenue jumps 62%<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Eicher Motors Q2 profit climbs 76% to Rs 657 crore, revenue up 56%<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>Divi&#8217;s Labs Q2 net profit falls 18.6% to Rs 493 crore, revenue slips 6.7%<\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">Page Industries Q2 net marginally up at Rs 162 crore<\/span><\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adani Green Energy Q2 profit soars 49% to Rs 149 crore<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Trent Q2 net profit jumps 41% to Rs 193 crore<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Private equity firm KKR to inves<\/span><span style=\"font-weight: 400;\">t $400 million in Vedanta\u2019s Serentica Renewable<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tata Motors to delist American Depositary Shares from January<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Archean Chemical\u2019s IPO sails through with more than 30 times subscription<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">KFin Technologies, Sula Vineyards get SEBI approval for IPOs.<\/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;Kuvera Insights&#8221; on Youtube and learn from the industry experts.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><strong>Watch here:<\/strong> Investing in the international market<\/p>\r\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/cD4mOCHdP70\" 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\u00a0Meta firing 11,000 employees, the collapse of cryptocurrency exchange FTX, a new tussle between Ambani and Adani, and some likely changes to the capital gains tax regime. &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 brief [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-chaos-in-the-cosmos\/\">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":[580,626,1856,1792,1857,1830,1831,1855,1793,1858],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chaos in the Cosmos | Weekly Wrap<\/title>\n<meta name=\"description\" content=\"Business &amp; finance updates in a nutshell. Read about Meta&#039;s layoffs, the collapse of FTX, new tussle between Ambani and Adani, and more.\" \/>\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-chaos-in-the-cosmos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chaos in the Cosmos | Weekly Wrap\" \/>\n<meta property=\"og:description\" content=\"Business &amp; finance updates in a nutshell. Read about Meta&#039;s layoffs, the collapse of FTX, new tussle between Ambani and Adani, and more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-chaos-in-the-cosmos\/\" \/>\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=\"2022-11-11T13:08:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-12T06:21:04+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=\"9 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chaos in the Cosmos | Weekly Wrap","description":"Business & finance updates in a nutshell. 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