{"id":18834,"date":"2022-11-25T17:12:34","date_gmt":"2022-11-25T11:42:34","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=18834"},"modified":"2022-11-28T10:47:50","modified_gmt":"2022-11-28T05:17:50","slug":"the-weekly-wrap-everybody-has-a-problem","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-wrap-everybody-has-a-problem\/","title":{"rendered":"The Weekly Wrap | Everybody Has a Problem"},"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-69db7702530c5\" 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-69db7702530c5\"><\/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-everybody-has-a-problem\/#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-everybody-has-a-problem\/#Essar_hits_a_milestone\" title=\"Essar hits a milestone\">Essar hits a milestone<\/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-everybody-has-a-problem\/#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-everybody-has-a-problem\/#Back_to_lending\" title=\"Back to lending\">Back to lending<\/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-everybody-has-a-problem\/#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-6\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-everybody-has-a-problem\/#The_Feds_pace\" title=\"The Fed\u2019s pace\">The Fed\u2019s pace<\/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-everybody-has-a-problem\/#i-4\" title=\"\u00a0\">\u00a0<\/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-everybody-has-a-problem\/#Tatas_thirst\" title=\"Tata\u2019s thirst\">Tata\u2019s thirst<\/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-everybody-has-a-problem\/#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-10\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-everybody-has-a-problem\/#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-11\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-everybody-has-a-problem\/#i-6\" 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-everybody-has-a-problem\/#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-everybody-has-a-problem\/#The_week_ahead\" title=\"The week ahead\">The week ahead<\/a><\/li><\/ul><\/nav><\/div>\n<p><i><span style=\"font-weight: 400;\">In this edition, we talk about the great Indian bank loan write-off and what the minutes of the latest US Fed meeting indicate. We also talk about Essar Group\u2019s milestone and Tata Group\u2019s plan to expand its bottled water business. <\/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-18834-1\" 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-25-1-1.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/Kuvera-NL-audio-Nov-25-1-1.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/Kuvera-NL-audio-Nov-25-1-1.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-18859\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/Paper-flying-2.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"170\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">\u201cIf you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has,\u201d so said John Maynard Keynes, the early 20th-century British economist and the father of modern macroeconomics. Nothing, perhaps, is more apt than this piece of Keynesian wisdom when we look at the state of Indian banking sector.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">India\u2019s banks\u2014mostly state-owned lenders, but many private-sector ones, too\u2014have been hobbled by a massive pile of bad loans for a better part of the past decade. Most of this problem was caused because many corporate houses\u2014think of Anil Ambani\u2019s Reliance Group, Vijay Mallya\u2019s Kingfisher, Mehul Choksi\u2019s Geetanjali Gems\u2014didn\u2019t repay the money they had borrowed.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">But aren\u2019t banks getting things under control now? Yes, they seem to be.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">For the year ended March 2022, banks\u2019 non-performing assets\u2014a respectable term for loans that are not repaid\u2014fell to 5.9% of total advances from 11.5% in March 2018.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">So, the banks must have gone after the corporate defaulters and recovered their money, right? Well, not really. They recovered only 13%, per <\/span><i><span style=\"font-weight: 400;\">The Indian Express<\/span><\/i><span style=\"font-weight: 400;\">.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Then, how did the banks bring down the NPAs? They just wrote off the bad loans.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">They did what? A write-off means a lender removes a bad loan from its asset book because it no longer hopes to get the money back and shows it as a loss\u2014and even claims a tax benefit!<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">In all, Indian banks wrote off bad loans of more than Rs 10 trillion in the last five years. That\u2019s $125-150 billion at the prevailing exchange rates. These massive write-offs indicate that the real problems haven\u2019t really been addressed but have been side-stepped to clean up the books.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Why does it matter to us? To keep things simple, let\u2019s just say this\u2014if everyone repaid their loans, banks would have greater room to increase interest rates on deposits and make loans cheaper. So, the fixed-deposit that fetches you 5-6% could have earned 7-8%. And that home loan where you are paying 8-10%, could have cost you 6-7%.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The numbers are hypothetical, of course, but the lesson here is that if everyone is pulling their weight, everyone will have to carry a little less burden. But until that happens, let\u2019s remember what the British weekly newspaper <\/span><i><span style=\"font-weight: 400;\">The Economist<\/span><\/i><span style=\"font-weight: 400;\"> wrote a few years ago: \u201cIf you owe your bank a billion pounds everybody has a problem.\u201d<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Essar_hits_a_milestone\"><\/span><b>Essar hits a milestone<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Talking about debt-laden companies, one conglomerate has come out with flying colours. Essar Group said this week it has become debt-free after settling the rest of its Rs 2 trillion ($25 billion) borrowings.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-18848\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/celebration.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"223\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Essar Group was founded by brothers Shashi and Ravi Ruia five decades ago. It emerged as one of India\u2019s biggest corporate houses in the first decade of the 21<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> century, with presence in a wide range of sectors such as telecom, BPO, power and infrastructure, ports and shipping, oil refining, and steel. Most of this expansion, however, was fuelled by debt. Changing commodity cycles made matters worse, hurting Essar Steel and Essar Oil in particular.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The group exited telecom more than a decade ago by selling its stake to Vodafone, but its debt problems worsened only after. In late 2016, it sold its oil business including the flagship Vadinar refinery in Gujarat to a consortium led by Russia\u2019s Rosneft for almost $13 billion. The following year, it divested its BPO business Aegis. In August 2017, Essar Steel was pushed into insolvency as lenders sought to recover more than Rs 54,000 crore. After a long-drawn bankruptcy battle, Lakshmi Mittal-led ArcelorMittal and Japan\u2019s Nippon Steel acquired Essar Steel three years ago.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Essar has now sold a 270-MW power plant, a 25 million tonne per annum port at Hazira, Gujarat, and a 12 MTPA port at Paradip, Odisha to ArcelorMittal Nippon Steel Ltd for $2.05 billion.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">If only other corporate houses had followed Essar\u2019s example!<\/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=\"Back_to_lending\"><\/span><b>Back to lending<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">With bad loans seemingly under control, banks are now once again increasing lending to local companies. Overall loan growth in the last two weeks of October was up nearly 17% from a year earlier, according to RBI data. Lending to companies increased 12.6% in September. That\u2019s the fastest pace of growth since 2014, per Reuters.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Growth in corporate lending indicates that India is on the cusp of a new private investment cycle after years of constraints due to high bad loans at banks, elevated debt levels of companies and weak demand.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">A <a href=\"https:\/\/app.kuvera.in\/stocks\/listing\/all\">stock market<\/a> boom and low interest rates over the past couple of years helped companies to raise equity capital and cut borrowing costs. However, the pick-up in corporate lending comes at a time when the economic recovery from the Covid-19 pandemic has begun to lose steam and the world\u2019s most advanced nations are staring at a recession. While India itself won\u2019t enter a recession, weakening export demand will drag economic growth down.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Goldman Sachs, the marquee US investment bank, joined several other institutions this week to predict that India\u2019s GDP growth will slow down. It expects growth to fall to 5.9% next year, from an estimated 6.9% in 2022.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-3\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"The_Feds_pace\"><\/span><b>The Fed\u2019s pace<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The growth rate will fall also because of rising interest rates, both in advanced economies as well as at home, to control inflation. The pace of rate hikes, however, is likely to slow down.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The US Federal Reserve is widely expected to raise interest rate by 0.50% at its policy meeting next month, after four consecutive hikes of 0.75% each to take the main funds rate to its highest level since the end of 2007.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">According to the minutes of the Fed\u2019s meeting earlier this month released this week, a \u201csubstantial majority\u201d of participants judged that a slowing in the pace of increase would likely soon be appropriate. But opinion is still divided on how high the Fed ultimately raises interest rates.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">At home, the Reserve Bank of India\u2019s monetary policy committee will also meet early next month to decide on interest rates. Apart from inflation data, the RBI will also consider the GDP data for the July-September quarter, which will be released next week.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-4\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"Tatas_thirst\"><\/span><b>Tata\u2019s thirst<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Moving on from the broader economic developments, the Tata Group is set to acquire India\u2019s most famous bottled water brand\u2014Bisleri\u2014in a deal that could be worth Rs 6,000-7,000 crore.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Bisleri, originally an Italian brand that entered India in 1965, was taken over by the Chauhan family in 1969. Today, its annual revenue is around Rs 2,500 crore with a profit of over Rs 200 crore.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-18866\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/Water.gif\" alt=\"\" width=\"400\" height=\"394\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Ramesh Chauhan, who built the Bisleri brand, told <\/span><i><span style=\"font-weight: 400;\">The Economic Times<\/span><\/i><span style=\"font-weight: 400;\"> this week that he made up his mind to sell the company to the Tatas after meeting Tata Sons chairman N Chandrasekaran and Tata Consumer Products CEO Sunil D&#8217;Souza a few months ago. The planned sale comes three decades after Chauhan sold Thumbs Up, Limca, Maaza and Gold Spot to Coca-Cola.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">Tatas, on their part, haven\u2019t yet announced the deal, saying only that they remain in discussions. If the deal does go through, Tatas would get to own a brand that was being courted by rivals such as Reliance Retail, Nestle and Danone. Tata Consumer is aggressively expanding in the FMCG, and Bisleri will complement its packaged mineral water brand Himalayan as well as Tata Copper Plus Water and Tata Gluco+.\u00a0<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-5\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"Market_wrap\"><\/span><b>Market wrap<\/b><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 touched new record highs on Friday. While the 30-stock Sensex hit 62,447.73, the 50-stock Nifty crossed 18,500. For the week, the two indices rose about 1.0% each.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">The markets rose on expectations that interest rate hikes will slow down in coming and as foreign investors continued to pour money. Net investments into Indian equities by foreign portfolio investors have crossed $3.3 billion so far in November\u2014only the third month in 2022 when FPIs have been net buyers.<\/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 HDFC Life Insurance, Apollo Hospitals, BPCL, IndusInd Bank and Axis Bank. The laggards included Adani Enterprises, Nestle, Kotak Mahindra Bank and Adani Ports.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">In the broader market, Easy Trip Planners soared 36% while state-run Punjab National Bank jumped almost 17%. Policybazaar parent PB Fintech was another significant gainer, rising around 14%. The biggest loser in the Nifty 500 pack was Paytm, which lost 15% on reports of the entry of Reliance Jio in the financial services sector.<\/span><\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-6\"><\/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\"><span style=\"font-weight: 400;\">FIFA World Cup kicks off with some shock results in the first week as Germany and Argentina lose to Japan<br \/>and Saudi Arabia, respectively.<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adani Enterprises to raise Rs 20,000 crore via follow-on public offering<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Google plans to cut 10,000 jobs; Hewlett-Packard to lay off 6,000 employees<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>Finance Minister Nirmala Sitharaman starts pre-Budget consultations<\/p>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p><span style=\"font-weight: 400;\">Uniparts India&#8217;s IPO to kick off on November 30<\/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;\">Rustomjee Group company Keystone Realtors lists at 2% premium to IPO price<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Inox Green Energy Services ends 9% lower on market debut<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Five Star Business Finance lists at 5% discount to issue price, closes with 3% gain<\/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 lists at 10% premium to issue price<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Yatra Online gets SEBI approval to float IPO<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>Motilal Oswal AMC starts accepting subscriptions in three international funds<\/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 government will release the GDP data for July-September on Nov. 30.<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">All eyes will remain glued to TV sets for the FIFA\u00a0<\/span><\/span>\r\n<div class=\"embed-container\">\u00a0<\/div>\r\n<div class=\"embed-container\">\u00a0<\/div>\r\n<div class=\"embed-container\">\u00a0<\/div>\r\n<\/li>\r\n<\/ul>\r\n<p><span style=\"font-weight: 400;\">Until next week, happy investing!<\/span><\/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 international markets<\/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 <a href=\"https:\/\/kuvera.in\/explore\/fixed-deposit\/c\/all\">Fixed Deposits<\/a> 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 great Indian bank loan write-off and what the minutes of the latest US Fed meeting indicate. We also talk about Essar Group\u2019s milestone and Tata Group\u2019s plan to expand its bottled water business. &nbsp; Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, finance [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-everybody-has-a-problem\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":12756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_mi_skip_tracking":false},"categories":[173],"tags":[1904,1902,1901,300,1903,714],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Everybody Has a Problem | Weekly Wrap<\/title>\n<meta name=\"description\" content=\"We talk about the great Indian bank loan write-off, Essar Group\u2019s milestone and Tata Group\u2019s plan to expand its bottled water business, etc.\" \/>\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-everybody-has-a-problem\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everybody Has a Problem | Weekly Wrap\" \/>\n<meta property=\"og:description\" content=\"We talk about the great Indian bank loan write-off, Essar Group\u2019s milestone and Tata Group\u2019s plan to expand its bottled water business, etc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-everybody-has-a-problem\/\" \/>\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=\"2022-11-25T11:42:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-28T05:17:50+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":"Everybody Has a Problem | Weekly 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