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14th December 2021
Good Morning! 

Ever since the Omicron variant started spreading there have been talks about when the govt will decide to give out boosters to our population, especially to the vulnerable. 
But the ICMR yesterday said that they will first focus on vaccinating a majority of the eligible adults with two doses and then think of boosters.
We hope this move doesn't backfire. We can't take another lockdown.🙈
  MARKETS
 

SENSEX

58,283.42

- 0.86%

NIFTY

17,368.25

- 0.82%

US$

75.76

- 0.02%

GOLD

48,305

+ 0.29%

10-YR

6.37%

+ 0.1 bps

OIL

5,434

+ 0.48%

*As of market close

  • Markets: Headline equity indexes Sensex and Nifty50 ended a volatile session sharply lower yesterday. Losses in financial, oil & gas and FMCG shares dragged the indexes lower after what had seemed like a promising start in the morning.

Economy

I-Day
Inflate

No, not Independence Day. Yesterday was inflation day.

Retail inflation data for the month of November was released yesterday by the gov and it has come in at a 3-month high.

Retail prices for a bunch of things that we use every day went up 4.91% in November 2021 compared to where they were in November 2020. And this is despite the significant cuts to fuel prices which the central government had ordered as sort of a Diwali gift.

But 4.91% is not too bad actually, it's well within the RBI's target of 2-6%. Vegetable prices were largely under control with the notable exception of Tomatoes because of the heavy rains down south.

Economists, however, were expecting the CPI inflation number to be lower. The team at ICRA believes that input prices are going up, forcing producers to raise their prices as well. As a result, the full benefit of the Rs 5 and Rs 10 cut in petrol and diesel prices is not being felt by consumers. 

Tech

Byju's Competition
Money gun
 

The online-first beauty brand Good Glamm Group (previously known as MyGlamm) seems to be adamant in trying to match Byju's acquisition spree.

They've now gone on to make their 5th acquisition. And again it's another new age media company with an influencer marketing angle – Miss Malini.

(Byju's has made 10 so far this year btw).

Now if the name Miss Malini sounds familiar, it's because you've probably stumbled onto a link of theirs on social media regarding some Bollywood Gossip or the other.

While Miss Malini's Bollywood gossip and fashion media business is what the company is most well known for, they have 4 other divisions as well.

A women-only community. A celebrity and talent management company. A creative agency and a video production house.
Across all their products they apparently cater to 60 million users.

GoodGlamm Group plans on investing a further $10 million in the company to help expand its influencer base. 

Acquiring content companies to use for content-to-commerce seems to be GoodGlamm's strategy behind their acquisitions so far.
They'd previously acquired ScoopWhoop, BabyChakra, PopXO and now they've got  Miss Malini.

Btw guys do you know if there are any major content companies left in this space for GoodGlamm to acquire?

With Good Glamm looking at entering the men's grooming space over the next few months we are almost certain now they'll be looking at another acquisition.

Tech

Name Change
Money gun

Grofers has decided to go and change its name to Blinkit.

They are doing this as part of a pivot to “instant commerce indistinguishable from magic”.

We've been talking about how the dark-store model of superfast delivery is getting quite popular.
Honestly, it reminds us of how the milk delivery aka online doodhwala space got crowded really quickly a few years back.

With Swiggy, Dunzo, BigBasket, Zepto and Grofers all throwing money into the space, it looks like soon you will have your groceries at home as soon as you think about them.

Hey, as long as we get discounts we are happy.

PS: Is it fashionable to change your name now? Facebook changed to Meta, Square to Block. Now our Indian startups are catching on.

On a Lighter Note

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