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17th December 2021
Good Morning! 

Happy Friyayyyyyy!!!
Last few weeks before the year ends and the nice Christmas holidays, we hope things stay okay here so we can enjoy that break this time.
  MARKETS
 

SENSEX

57,901.14

+ 0.20%

NIFTY

17,248.40

+ 0.16%

US$

76.09

- 0.18%

GOLD

48,616

+ 1.10%

10-YR

6.38%

+ 1.1 bps

OIL

5,526

+ 2.35%

*As of market close

  • Markets: A really volatile trading day that saw sharp intraday ups and downs finally closed mildly higher yesterday.Gains in IT, oil & gas and consumer stocks were mostly offset by losses in financial, automobile and pharmaceutical shares.

Semiconductor

Chip 'n' Tale
Chip

The government has announced some definitive steps to try and make India a semiconductor manufacturing hub.

Rs 76,000 crores ($10 billion) have been earmarked for helping the development of the semiconductor of 'chip' industry in India as companies worldwide are struggling with the chip shortage the world is facing.

The incentives will be provided as part of the Production-linked incentive (PLI) scheme, which has already had some success in the electronics manufacturing segment.
Electronics and IT minister Ashwini Vaishnaw said that the aim is to develop a complete ecosystem for chip manufacturing in India.

The target will be to support companies that are engaged in silicon semiconductor fabrication, display fabrication, compound semiconductors / silicon photonics / sensors fabrication, semiconductor packaging and semiconductor design

The gov will support up to 50% of the cost of setting up these facilities by applicants who have the right tech capabilities and get approved.

In addition, 100 domestic companies of semiconductor design for integrated circuits, chipsets, system on chips, systems and IP cores, semiconductor-linked design will be supported and the target here is to build at least 20 companies with a turnover of Rs 1,500 crores each in the next 5 years.

This is great news because for many many years we've been seeing stories that the gov is trying to 'woo' chipmakers to come to India and all. But this is the first time a proper plan (and money) has been set to actually incentivize the sector.

Tech

Another Raise
Money gun

Sharechat has gone on to raise some funds again this year!!

They have raised $266 million and are now valued at $3.7 billion
In case you are wondering why we are saying again, it's because this is their 4th funding round of the year.

ShareChat is commonly referred to as the social network for 'Bharat'. With them serving more than 160 million users mostly in small towns and having 15 Indian language options, you can understand why.

Recently they've been part of the 'Biggest Tik Tok Clone Jeetega' contest as well, with their app Moj. And by the looks of it, they are already one of the leaders with 160 million people using their app every month as well!

Last year they also launched a fantasy sports app called Jeet.
So Tik Tok-like product ✅ Fantasy Sports product ✅
Come on guys we are really waiting for your ed-tech product now, only then can we say you've covered all the 2020 trends.

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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