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22nd March 2022
Good Morning! 

We just found out that 20-27th March is celebrated as National Introverts Week. While nowadays every week is celebrated for something or the other, we can get behind this whole Introvert Week concept for sure.
Now if only our boss at our day job could also get behind this so we could have extra time for more introverty stuff.
  MARKETS
 

SENSEX

57,292.49

- 0.98%

NIFTY

17,117.60

- 0.99%

US$

76.85

+ 0.55%

GOLD

51,680

+ 0.45%

10-YR

6.78%

+ 0.3 bps

OIL

8,350

+ 6.18%

*As of market close

  • Markets: A weak start to the week (lol) for the stock market with a near 1% cut on both the headline indexes Sensex and Nifty50.Financial, IT and oil & gas shares were down the most, while metals offered some support.

Tech

Fast Food Redefined
Money gun
 

We have been talking about Quick commerce but now Zomato is promising Quick food.

Zomato announced the launch of Zomato Instant where they plan on delivering food to customers within 10 minutes!.
Yes, you read that right.

They did a good job explaining their thought process behind why they are launching this btw.
They feel customers are increasingly demanding quicker answers to their needs and they don't want to waste time waiting. Hey, considering we run a news curation service we hope that's the case as well. Apparently sorting restaurants by fastest delivery time is one of the most used features on the Zomato app
Honestly, we've never used it, have you all?

Anyway, the folks at Zomato have been using Blinkit also and now feel 30 minute average delivery time will soon become obsolete. So they are going to innovate and launch Zomato Instant.

How It Works

You're probably curious about how 10 minutes delivery will work.

Turns out all the orders we all have been placing over the past few years has given Zomato a fair idea of the best-sellers in a particular area. So Zomato will set up finishing stations (like dark stores, just dark kitchens) from which they will be able to quickly deliver.

They went on to stress how they will not pressure any riders to fulfil the orders within 10 minutes or penalize them if they don't deliver in 10 minutes. Time optimisation apparently does not happen on the road.

For now, they will be piloting the service in a few parts of Gurgaon.
Honestly, if they. are serious about this we suggest the start with a nice tune like Domino's did for 30 minutes or free delivery.
Ho tana nana ne ho Zomato aayo free. 10 minutes or free.

Corporate

Objection!
Objection
 

The Competition Commission of India (CCI) has once again said that there was misrepresentation and concealment when Amazon took a stake in Future Coupons Private Limited back in 2019.

This deal between Amazon and the Future Coupons apparently gave Amazon the right to acquire another group company (Future Retail Limited) first, in case it was ever put up for sale

So when Future Retail went bankrupt and Reliance tried to acquire it, the big legal fight between the giants started.

And while this legal battle was going on, the CCI came out and (indirectly) said that they might've missed out on some things at the time of the deal in 2019. So in December 2021, they issued an order that suspended this 2019 deal between Amazon and Future Retail and imposed a Rs 200 crore penalty on Amazon. 

Naturally, Amazon challenged this order in court. It seemed unfair to them that a 2-year-old order could be randomly reversed by the CCI.

But at a hearing before the NCLAT yesterday, the CCI re-iterated that they now believe Amazon acquired Future Coupons because it gave them an indirect way to control Future Retail. And since this was not disclosed at the time of the deal, the transaction should be cancelled. 

It's another one of those "taareek pe taareek" type of things, but you can count on us to keep you updated with the latest developments in the case.

On a Lighter Note

Campus Ambassador Program

If you are a college student do check out our campus ambassador program. 
For more deets check this out.

If you have more time ...

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