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<keyword id="1589476" type="General" weightage="20" keywordseo="stocktwits" source="Orion">Stocktwits</keyword> is a social networking platform where investors can connect with others in the community to discuss all markets, whether that’s stocks, futures, crypto or foreign exchange. And, the US-based company is now entering India with fresh funds in the bank to the tune of $30 million. <div type="twitter" handle="rkhanna" handlename="Rishi Khanna" image="http://pbs.twimg.com/profile_images/463533111427346432/lgZabYp0_normal.jpeg" favoritecount="214" retweetcount="22" status="Excited to share our $30M series B from @AlamedaResearch and @timesbridge and to partner with @ramnikarora… https://t.co/wY9Y2Ds7A1" createdat="1639674799000" id="1471528881358360584"></div> The Series B round of funding led by Alameda Research Ventures — the same powerhouse that’s behind the FTX crypto exchange founded by Sam Bankman-Fried and <a href="https://www.businessinsider.in/cryptocurrency/news/sam-bankman-frieds-ftx-crypto-exchange-handed-25-billion-valuation-in-latest-funding-round/articleshow/87188061.cms">valued at $25 billion</a> — includes a partnership with <keyword id="4519251" type="General" weightage="20" keywordseo="times-bridge" source="Orion">Times Bridge</keyword> to bring its offerings to consumers in India. Times Bridge is the global investments and venture arm of The Times Group, India’s oldest and largest media and digital company, with more than 557 million active monthly users. Times Bridge has helped other companies like Airbnb, Houzz, Uber, <a href="https://www.businessinsider.in/business/news/times-bridge-announces-partnership-with-stack-overflow-to-scale-and-expand-so-enterprise-saas-offerings-in-india/articleshow/79506841.cms">Stack Overflow</a>, <a href="https://www.businessinsider.in/smule-announces-strategic-investment-from-times-bridge-in-india/articleshow/66261010.cms">Smule</a>, <a href="https://www.businessinsider.in/business/corporates/news/times-bridge-invests-in-global-meditation-company-headspace/articleshow/74111300.cms">Headspace</a> and Coursera expand their footprint across the country. <div type="ExtQuote" text="Times Bridge’s mission is to advance India's entry, scale and leadership for the world’s best ideas in India. Stocktwits is one such idea that has, for years, offered groundbreaking social solutions, and access, for retail investors worldwide. And building on the growing dynamism of the investor landscape in India, we at Times Bridge - and across The Times Group - are looking forward to harnessing the power of our assets and know-how to support the localisation, growth and impact of the Stocktwits platform across the length and breadth of India." auname="Rishi Jaitly, Founding CEO of Times Bridge"></div> <cmsannotation type="cmsannotation" annotationid="Stocktwits is about more than just stocks" comment="subhead" text="Stocktwits is about more than just stocks">Stocktwits is about more than just stocks</cmsannotation> Founded in 2008 as the world’s first social platform for investors, Stocktwits set out to transform the retail investing space by becoming a global hub for conversations among investors — from beginners to veterans. The concept of ‘cashtags’ — a digital tool for investors who want to participate and access information on companies, not unlike the hashtag — was invented on Stocktwits. The conversations on Stocktwits aren't just about stocks either. They span from futures, foreign exchange to even cryptocurrency. Instead of the ‘#’ symbol, users online can use the ‘$’ to look for specific cryptocurrencies, like $BTC for Bitcoin or $ETH for Etherum, or specific companies, like $GOOG for Google and $PEP for PepsiCo. <cmsannotation type="cmsannotation" annotationid="Capitalising on the growth of investors in India" comment="subhead" text="Capitalising on the growth of investors in India">Capitalising on the growth of investors in India</cmsannotation> The launch of Stocktwits in India corresponds with growth in the investing landscape across the country. During the year of the pandemic, FY21, the number of retail investors in the country increased by <a href="https://sbi.co.in/documents/13958/10990811/220621-Ecowrap_20210622.pdf/98268407-3a8a-bacf-085b-3daef4984292?t=1624355750351#:~:text=INCREASING%20RETAIL%20PARTICIPATION%20IN%20THE%20MARKET&amp;text=retail%20participation%20in%20the%20Indian,and%2019.7%20lakh%20in%20NSDL.">14.2 million</a>, according to data from the National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL). A lot of the new participants are first-time investors under the age of 25 years, who are from Tier II and Tier III cities. Similarly, ever since the Supreme Court <a href="https://www.businessinsider.in/cryptocurrency/news/crypto-faqs-answered-everything-you-need-to-know-about-crypto-regulations-trading-taxes-and-cbdc-in-india/articleshow/88139203.cms">overturned</a> the Reserve Bank of India’s (RBI) blanket ban on cryptocurrencies, local crypto exchanges have seen a flood of new users. India’s leading crypto exchange, WazirX, claims to have 10 million users as of December and India’s first crypto unicorn — a startup with a valuation of more than $1 billion — CoinDCX cites 3.5 million users as of August. According to Stocktwits, the company’s social-first philosophy is perfectly placed to cater to this new generation of Indian consumers. Not only is there a surge in retail-investors but people are also turning to one another — and social media — for making investing approachable and successful. WazirX surveyed 8.5 million of its users and found out that over half of them had entered cryptocurrency trading on advice from friends and family. Currently, Stocktwits has 6 million users globally, with over a million monthly active users. In 2021, the platform saw 50% year-on-year growth. By entering India, the company is hoping to continue that momentum as more users come onboard. <div type="ExtQuote" text="India is an incredibly dynamic investor market and we are thrilled to be partnering with Times Bridge to advance our mission and expand our reach in the subcontinent. We are looking forward to making a significant mark for ourselves in the Indian market where investors spanning many generations are ready for new and innovative platforms to learn, connect, educate and profit." auname="Rishi Khanna, CEO of Stocktwits"></div> As part of this partnership, Times Bridge will catalyze strategic partnerships, platform localisation, and content for Stocktwits to drive adoption and impact across India. Disclaimer: Business Insider is a part of Times Bridge.

Stocktwits is entering India with fresh funding of $30 million and a partnership with Times Bridge

Politicians delivering speeches. Soldiers going to the frontlines to die. Families mourning. Markets crashing. Cities getting bombed and civilians getting killed, as “netizens” make world war-III memes. The obvious pictures that come to the fore, as history repeats. <div type="image" title="Russia-Ukraine conflict" msid="89954893" hostid="261"></div> When scrolling through social media, sometimes, it may seem like many people are numb to the pain that a <keyword id="6363794" type="General" weightage="20" keywordseo="war" source="Orion">war</keyword> can cause. So, we decided to put the spotlight on some of the consequences that may hit the right spot of the warmongers sitting afar. For others, it may give a sense how to prepare for the day when bombs rain from the sky. First up, no internet and patchy phone lines. Just letting your loved ones know that you are alive will be a task. Maybe, train a pigeon to carry notes. Then, no home deliveries. Slash that! Just <a href="https://www.businessinsider.in/international/news/ukraine-war-threatens-food-security-worldwide/articleshow/89918373.cms">not enough food</a>. Stores get shut, supplies don’t arrive and prices shoot up for everything from crude oil and fuel to edible oil and, even, the humble bread. In the ongoing war, this has been true, not just for the country that was invaded, for a large part of the world ⁠— even those that are not part of the war right now ⁠— because <keyword id="6355101" type="General" weightage="20" keywordseo="ukraine" source="Orion">Ukraine</keyword> is called the ‘breadbasket of Europe’. As Kyiv went into curfew from <a href="https://www.businessinsider.in/international/news/citizens-in-kyiv-emerge-from-shelters-to-queue-at-grocery-stores-after-curfew-ends/slidelist/89907313.cms#slideid=89907333">8 p.m. until 7 a.m,</a> there were long queues in front of grocery stores and ATMs. Expect panic and prejudice all around. And no money. Students from India who were in Ukraine at this inopportune moment learnt it the hard way. Even those who had money in the accounts ⁠— or a family member had transferred it ⁠— couldn’t access it. As they hitched a ride and/or walked miles to get to the closest border, aside from hunger and anxiety, they were attacked by angry locals. India did not condemn <keyword id="6358826" type="General" weightage="20" keywordseo="russia" source="Orion">Russia</keyword> for the attack ⁠— and the Indian government had its reasons ⁠for it — and many students, as they ran for their lives, faced the <a href="https://www.businessinsider.in/international/news/indian-student-killed-in-shelling-in-ukraine-as-the-war-with-russia-reached-big-cities-streets-/articleshow/89923130.cms">wrath of the civilians</a>. <div type="twitter" handle="MFA_Ukraine" handlename="MFA of Ukraine 🇺🇦" image="http://pbs.twimg.com/profile_images/1489725002786217985/3t7lVWBM_normal.jpg" favoritecount="1630" retweetcount="706" status="#RussiaInvadedUkraine #StopRussianAggressionThis is how Ukraine looks like now https://t.co/mt7HyjLGcg" createdat="1645964272000" id="1497908841320566787"></div> If that’s the story of the place that’s being attacked, things are not much better even for the invader. <a href="https://www.businessinsider.in/sports/news/fifa-and-uefa-ban-russia-and-its-soccer-teams-from-all-competitions-including-the-world-cup/articleshow/89907309.cms">FIFA and UEFA banned all Russian clubs and national teams</a> from competing on the international stage. But that’s the least of Russian President <keyword id="43440" type="General" weightage="20" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword>’s problems. Russia needs money to fund the war, but it has been cut off from the global financial markets. Russia has doubled its key interest rate to 20% from 9.5%, but even if someone would like to send money back to the banks in Moscow, they can’t, because the international banking system <a href="https://www.businessinsider.in/finance/banks/news/what-is-swift-how-does-it-work-why-is-it-important-and-how-nations-are-using-it-to-punish-russia/articleshow/89886091.cms">won’t allow the money to pass</a>. The value of the Russian currency fell over 40% making stuff more expensive even for Russians. As the iconic science fiction author HG Wells wrote in the famous book, ‘The War of the Worlds’: “If we don't end war, war will end us.” Due to the global sanctions, Russia would not have found buyers for things that it can sell, like crude oil and wheat. But <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> has decided to pick them up for a bargain and how cheap it’s gonna be will depend on how desperate the sellers in Russia are. That’s not the only one. These are all the ways China benefits from Russia’s invasion of Ukraine. Take a look. <div type="image" title="These are all the ways China benefits from Russia’s invasion of Ukraine" msid="89954767" hostid="261"></div> More on what the war-torn markets could look like a few weeks from now. Aashish Somaiyaa of White Oak Capital Management says that private banks and financial stocks in India have severely underperformed in recent months, and it has nothing to do with their own fundamentals. So they might be the first to bounce back if and when the crisis subsides. You can listen to the entire Twitter spaces session <a href="https://twitter.com/StocktwitsIndia/status/1499048978083508224">hosted by Stocktwits and Business Insider here</a>.

SIMPLY PUT: What we can learn from a war

<ul><li>Sugar producing company stocks have rallied up to 25% in the last one month on excitement of double incentive by the government for producing ethanol.</li><li>The government is taking several steps to boost <keyword id="1992365" type="General" weightage="20" keywordseo="ethanol-production" source="Orion">ethanol production</keyword>, which can be used as an alternative to fuel in car engines and thereby reduce air pollution.</li><li>The government has already addressed auto makers to start manufacturing <keyword id="10975219" type="General" weightage="20" keywordseo="flex-fuel-vehicles" source="Orion">flex fuel vehicles</keyword>, automobiles which can run on ethanol.</li></ul>Most sugar manufacturing companies have witnessed the best year as their share price doubled or even tripled in 2021 led by improving outlook and government measures to support such companies. In the last one year, the government has come out with a slew of measures to encourage sugar mills to produce ethanol. Ethanol is an alcohol-based fuel produced by fermenting the sugarcane juice. Ethanol has been a game changer for the sugar industry In October, 2021, the government announced an incentive to encourage sugar companies to divert excess sugar cane stock in producing ethanol, which can be blended with petrol and used as fuel in vehicles. Besides, this is also a good solution to address the problem of excess sugar production in the country. Stock prices of many sugar companies doubled in 2021. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sugar producing companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in last one month </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bannari Amman Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">25% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shree Renuka Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">22% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">153% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Uttam Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Hindustan Sugar </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">139% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Balrampur Chini Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">109% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Avadh Sugar &amp; Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dhampur Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">81% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dwarikesh Sugar Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">130% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Triveni Engineering and Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">212% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dalmia Bharat Sugar &amp; Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">167% </td></tr></tbody><tbody></tbody></table>Government’s measures to boost ethanol production In an effort to reduce import of petroleum products, the government has been encouraging farmers to produce ethanol that can be blended with petrol and used as a fuel in vehicles. Also, the centre has advised auto makers to manufacture flex fuel vehicles that are capable of running on both ethanol-based fuel and petrol. Maruti Suzuki, Toyota, Honda, BMW and Mercedes have been told to make vehicles that can run on ethanol based fuel, said Union Minister for Road Transport and Highways Nitin Gadkari in an Agro-Vision event in Nagpur this week while encouraging farmers to grow more sugarcane plants. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div>The move is in line with the government’s target to reduce the carbon emissions by one billion tonnes by 2030. Analysts say sugar industry has a long way to go Sugar industry in India is expected to grow by 6-7% in the years 2021-2022 due to growth in exports of sugar and ethanol, said Manoj Dalmia, founder and director, Proficient equities. “Exports taking place from India will rise as Brazil is facing weather changes impacting crops. India is to register exports of around 4-6 million tonnes for (sugar 2022). Government plans 20% ethanol blending by 2025 in petrol, currently it is 10%. This measure will reduce the debt burden on farmers as a result sugar stocks are to grow,” said Dalmia. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/six-reasons-why-indias-central-bank-believes-cryptocurrencies-threaten-financial-stability/articleshow/88588170.cms">Six reasons why India’s central bank believes cryptocurrencies threaten financial stability</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbl-banks-stock-slumped-nearly-10-even-as-rbi-approves-interim-head-for-the-bank/articleshow/88584214.cms">RBL Bank slides back to its lowest in a year despite a new chief and RBI's assurances</a>

Sugar companies witness a sweet rally on ethanol excitement that may continue in 2022 as well

If there’s one industry that is becoming the embodiment of the Atmanirbhar Bharat movement, it is banking and finance. Well, not intentionally, though. <div type="image" title="Major foreign banks are leaving India" msid="90714707" hostid="261" caption="&amp;lt;p&amp;gt;Major foreign banks are leaving India&amp;lt;/p&amp;gt;"></div> Earlier last week, Axis Bank announced that it has acquired American giant Citibank’s credit card business, wealth franchise and a set of affluent customers for $1.6 billion. Interestingly, the announcement came on the same day last year when it recorded its <a href="https://www.businessinsider.in/stock-market/news/citi-posted-record-profit-in-the-1st-quarter-as-spac-activity-led-a-surge-in-underwriting-fees-and-stock-trading-exploded/articleshow/82086332.cms">highest quarterly profits</a> yet. Even in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, it closed its balance sheet in FY20 to the tune of ₹7,227 crore. So, profitability doesn’t seem to be the reason behind Citi’s partial exit. According to <keyword id="44473" type="General" weightage="50" keywordseo="citigroup" source="Orion">Citigroup</keyword>’s global Chief Executive Officer (CEO) <a href="https://qz.com/india/1997523/citibanks-india-exit-wont-hurt-bank-accounts-and-credit-cards/">Jane </a>Fraser, the bank didn’t have the scale it needed to compete in India. <div type="image" title="Major foreign banks going back home like" msid="90714826" hostid="261" caption="&amp;lt;p&amp;gt;Major foreign banks going back home like&amp;lt;/p&amp;gt;"></div> Meanwhile, companies left behind are trying to put on a brave face by pulling out of retail business and steering clear of expansion plans. <div type="image" title="Major foreign banks that have left the country" msid="90714853" hostid="261" caption="&amp;lt;p&amp;gt;Major foreign banks that have left the country&amp;lt;/p&amp;gt;"></div> These subsequent exits underscore the frustrating battle that <keyword id="679237" type="General" weightage="20" keywordseo="international-banks" source="Orion">international banks</keyword> face to get a small pie of the Indian market. While the reasons behind their exits are multifaceted, tough competition, high capital requirements, lack of scalable profits, COVID-19, infrastructural and social barriers have led to a total retreat. As per a survey conducted by <a href="https://bit.ly/3nD94g5">Stocktwits</a>, a social media platform for market buffs, consumers are most bullish on Indian <keyword id="6368751" type="General" weightage="20" keywordseo="banks" source="Orion">banks</keyword> such HDFC, ICICI, Kotak and the State Bank of India. <div type="image" title="Which bank are you most bullish on?" msid="90714876" hostid="261" caption="&amp;lt;p&amp;gt;Which bank are you most bullish on?&amp;lt;/p&amp;gt;"></div> The share of <a href="https://www.business-standard.com/article/finance/why-citigroup-and-other-foreign-banks-missed-the-india-growth-story-121042200842_1.html">advances </a>of <keyword id="44864" type="General" weightage="20" keywordseo="foreign-banks" source="Orion">foreign banks</keyword> had slipped from 6.55% in 2005 to 4.15% in 2020, according to <a href="https://rbi.org.in/Scripts/PublicationsView.aspx?id=20270">Reserve Bank of India figures</a>. As a result, many foreign banks have been forced to shut shop or scale down business in the Indian market. Apart from that, one major roadblock emerged in <a href="https://rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2313">2011 </a>after the global recession: International banks were allowed to either operate through the <keyword id="1919922" type="General" weightage="50" keywordseo="wholly-owned-subsidiaries" source="Orion">Wholly Owned Subsidiaries</keyword> (WOS) model or branch presence. Unlike branches, locally incorporated subsidiaries are separate legal entities. They have their own capital base and board of directors. As they operate on an independent model from their parent country, they are less likely to be affected by global changes. In the case of branches, parent banks are, in principle, responsible for their liabilities. Of the 45 foreign lenders, just <keyword id="978143" type="General" weightage="50" keywordseo="development-bank-of-singapore" source="Orion">Development Bank of Singapore</keyword> (DBS) and State Bank of Mauritius operate as subsidiaries and these two foreign banks have been successfully expanding their presence in the country. Another challenge imposed on foreign banks was related to priority sector lending. As per RBI 2011 rules, international banks were required to allocate at least <a href="https://rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2313">40</a>% of the overall loans to the economically weaker sections. However, international banks set up their branches in metro and Tier I cities, so it was hard for them to follow this ruling. And, on average, the <a href="https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=1424&amp;Mode=0">RBI </a>only issues about 14 branch permits to all foreign banks every year. So, apart from DBS, which was able to set up its local subsidiary in 2017 and expand after its acquisition of Lakshmi Vilas Bank, other foreign retail banks continue to struggle in India. Last but not the least, the global pandemic also worsened the bad loan crisis at Indian banks, especially during 2020-2021. Financial institutions were forced to set aside 'provisions' as many borrowers couldn't repay banks during the second wave, which ate into their profits. In July last year, <a href="https://www.fitchratings.com/research/banks/fitch-affirms-bank-of-india-at-bbb-outlook-negative-22-11-2021#:~:text=Fitch%20Ratings%20%2D%20Singapore%20%2D%2022%20Nov,VR)%20at%20'b%2B'.">Fitch </a>Ratings said that India's struggling banks would need between $15 billion to $58 billion in infusion of fresh funds by 2022. So, unless and until these foreign banks get some money to make more money, a lot of key executives may be packing their bags to fly out. Let's look at this short video <div type="image" title="Why are major foreign banks leaving India?" msid="90714926" hostid="261" caption="&amp;lt;p&amp;gt;Why are major foreign banks leaving India?&amp;lt;/p&amp;gt;"></div>

Simply Put: Why are foreign banks quitting India?

<ul><li>Analysts expect stability in the Indian telecom sector in Q2, with <keyword id="2003276" type="General" weightage="100" keywordseo="jio" source="Orion">Jio</keyword> and <keyword id="15491" type="General" weightage="80" keywordseo="airtel" source="Orion">Airtel</keyword> likely to strengthen their position further.</li><li>4G subscriber additions and lower spectrum usage charges are expected to boost telcos’ operating performance.</li><li>Focus will also be on management commentary regarding 5G capex and monetisation plans, and tariff hikes.</li></ul>4G subscriber additions and a minor boost from lower spectrum usage charges (SUC) are expected to benefit India’s leading telecom players <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> and <keyword id="6354287" type="General" weightage="50" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, while Vodafone Idea’s position could worsen despite a moderate increase in average revenue per user (ARPU), according to analysts. The overall telecom industry is expected to report a stable quarter with a revenue growth of 19% year-on-year, according to BNP Paribas. On a sequential basis, however, the consensus forecast amongst brokerages is a 1-4% growth. “However, quarter-on-quarter growth (2.4%) is likely to be weaker compared with the previous two quarters as tariff hike benefits are largely behind and subscriber additions are likely to be muted,” said a report by BNP Paribas. The 5G spectrum acquired by the three telcos will not attract any SUC, which will bring down the overall amount of these statutory charges. However, since the airwaves were allocated halfway through August, brokerages say the full benefits will start reflecting only from Q3 of this fiscal year. <cmsannotation type="cmsannotation" annotationid="ARPU growth to remain moderate – another tariff hike possible" comment="subhead" text="ARPU growth to remain moderate – another tariff hike possible">ARPU growth to remain moderate – another tariff hike possible</cmsannotation> ARPU, which is the amount of money that telcos generate from each subscriber on an average, is expected to see a moderate 1-3% increase, primarily on account of higher number of days in the quarter. The brokerages suggest that most of the benefits of the <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambani-led-reliance-jio-hikes-prices-of-its-plans-by-21/articleshow/87965329.cms">tariff hikes from last year</a> have already been reaped by the telcos. Analysts at BNP Paribas and Edelweiss Research expect another tariff hike in FY23, and Vi could take the lead in this regard. “Tariff hike environment is right and we won’t hesitate to take leadership in hiking prices,” Vi’s then CEO and now chairman Ravinder Takkar had<a href="https://www.businessinsider.in/business/telecom/news/vi-betting-on-tariff-hike-as-it-lost-over-10-million-every-day-in-q1-fy23/articleshow/93348828.cms"> said during an analyst concall</a> earlier in August. Vi bled $10 million a day in the first quarter in FY23 and lost 15 million subscribers in the period. The telco reported a loss of ₹7,293 crore in Q1, and a BofA Securities report expects it to worsen to ₹7,340 crore in Q2. <cmsannotation type="cmsannotation" annotationid="What to look out for in management commentary – 5G capex, tariff hikes" comment="subhead" text="What to look out for in management commentary – 5G capex, tariff hikes">What to look out for in management commentary – 5G capex, tariff hikes</cmsannotation> Amongst key aspects in the management commentary would be the telcos’ 5G capex and monetisation plans, clarity on the boost to margins due to lower SUC overall, and details of the next set of tariff hikes. Brokerages also expect Jio and Airtel to report subscriber additions, while Vi is expected to lose 2-4 million subscribers in the quarter. Earlier, a Nomura report<a href="https://www.businessinsider.in/business/telecom/news/heres-how-much-mobile-bills-can-increase-from-5g-network-service/articleshow/93312184.cms"> suggested</a> that telcos have two options to offset the extensive 5G spectrum purchases – increase prices for their existing subscribers by 4%, or launch 5G services at a premium of 30%. For now, both<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-5g-prices-may-be-affordable-for-now-but-expected-to-increase-after-wider-rollout/articleshow/94636173.cms"> Airtel and Jio are offering 5G services at no added cost</a> to their subscribers, but it remains to be seen which approach they adopt when their 5G services are launched commercially. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nifty50-valuations-remain-expensive-but-experts-are-divided-on-indias-growth-prospects/articleshow/94704195.cms">Nifty50 valuations remain expensive, but experts are divided on India's growth prospects</a> <a href="https://www.businessinsider.in/finance/banks/news/banks-to-reap-rewards-of-interest-rate-hikes-in-q2-earnings/articleshow/94706875.cms">Banks to reap rewards of interest rate hikes in Q2 earnings</a> <a href="https://www.businessinsider.in/business/telecom/news/5g-could-be-indias-next-growth-engine-and-a-successful-rollout-hinges-on-telcos-govt-policies/articleshow/94685725.cms">5G could be India’s next growth engine, and a successful rollout hinges on telcos, govt policies</a>

Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker

There are two things for certain that Indians are talking about this week – <keyword id="107991" type="General" weightage="20" keywordseo="petrol-prices" source="Orion">petrol prices</keyword>, and of course, the sweltering <keyword id="6359239" type="General" weightage="20" keywordseo="heat" source="Orion">heat</keyword>. <div type="image" title="If you say so, Chris!" msid="90575450" hostid="261" caption="&amp;lt;p&amp;gt;If you say so, Chris!&amp;lt;span class=&amp;quot;redactor-invisible-space&amp;quot;&amp;gt;&amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div> After 9 out of 10 days of fuel price hike, there are high chances that people might be talking about the price rise of fuel more than the scorching sun. While social media is flooded with memes of consumers wrecked by the soaring <keyword id="61430" type="General" weightage="20" keywordseo="fuel-prices" source="Orion">fuel prices</keyword>, one of the major challenges for the government is to justify the petrol price hike, which is a global phenomenon. <keyword id="102132" type="General" weightage="20" keywordseo="crude-oil-prices" source="Orion">Crude oil prices</keyword> internationally have been skyrocketing for several reasons that seem to be beyond the control of any country’s government. <div type="image" title="Fuel prices are making Indians sweat more this summer" msid="90575509" hostid="261" caption="&amp;lt;p&amp;gt;Fuel prices are making Indians sweat more this summer&amp;lt;/p&amp;gt;"></div> Even the market can feel the impact of rising crude oil prices. The Stocktwits’ Stock Room Sunday episode discusses this in detail. <div type="image" title="Impact of crude oil on stock markets" msid="90575763" hostid="261" caption="&amp;lt;p&amp;gt;Impact of crude oil on stock markets&amp;lt;/p&amp;gt;"></div> So, how are petrol prices determined exactly? Until 2010, the prices of petrol were determined by the Indian government and were revised every fortnight. After debating it for years, the government finally deregulated petrol and <keyword id="6397171" type="General" weightage="20" keywordseo="diesel-prices" source="Orion">diesel prices</keyword>, in 2010 and 2014, respectively. Since 2017, petrol and diesel prices have been revised on a daily basis by the public sector oil marketing companies – <keyword id="6354412" type="General" weightage="50" keywordseo="indian-oil" source="Orion">Indian Oil</keyword>, Bharat Petroleum and Hindustan Petroleum. They determine the prices based on international crude oil prices, foreign exchange rates, tax structure, freight and other cost elements. <div type="image" title="How fuel prices are determined" msid="90575555" hostid="261" caption="&amp;lt;p&amp;gt;How fuel prices are determined&amp;lt;/p&amp;gt;"></div> <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> depends heavily on crude oil imports, with some estimates pegging the number at over 80% of the country’s total oil needs. The oil marketing companies use the Brent Crude as the benchmark to determine prices. The international benchmark crude prices also depend on the whims and fancies of oil producing nations as to what they do to curb the price rise. Under pressure domestically, US President Joe Biden’s administration is now reportedly thinking about releasing its strategic reserves of 1 million barrels per day in a bid to control crude prices. More supply leads to lower prices. <div type="image" title="India&amp;#39;s oil imports" msid="90575590" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#39;s oil imports&amp;lt;/p&amp;gt;"></div> India is one of the biggest importers of crude oil after the US and China. And of late, India has been importing crude from <keyword id="6358826" type="General" weightage="80" keywordseo="russia" source="Orion">Russia</keyword>, a country which is currently at war with Ukraine, and hit with sanctions from US and its allies. According to a BBC report, <a href="https://www.bbc.com/news/world-asia-india-60783874#:~:text=After%20the%20US%20and%20China,2%25%20of%20its%20total%20imports.">India bought around 12 million barrels of crude per day from Russia in 2021</a>. Russia, which has had to bear the brunt of international sanctions following its Ukraine invasion, has reportedly offered huge discounts to India for buying its crude oil. According to a BloombergQuint report, <a href="https://twitter.com/bloombergquint/status/1509378490843369473?s=20&amp;t=T9sdA14FH9EEDJq7FaEN5g">Russia has offered crude oil to India at a discount of $35 per barrel on pre-war</a> prices. This action has also invited a lot of flak on India’s stance in the ongoing Russia-Ukraine war, even though it imports only a miniscule amount of its total oil needs from Russia at the moment. In the upper house of the parliament, India’s minister for petroleum and natural gas clarified that oil imports from Russia in the financial year 2020-2021 was not even 0.2% of total import of 175.9 million tonnes. It has not been an easy task for India to trade with Russia since the war broke out as Russian banks and transaction systems have also been subject to sanctions. The Indian government is even considering trading in local currency – Indian Rupee – till the time the sanctions on Russia have been lifted. There is another nation apart from India that may take advantage of the cheap Russian crude. As analysts believe, China could tap the discounted Russian crude market and purchase more oil from Russia. Being the third largest oil importing nation, a fall in global oil prices will surely benefit India. And currently, there are two things Indians are eagerly waiting for – rains for respite from the rising temperatures and stability in petrol prices. Here's a short video on how fuel prices are calculated in India. <div type="image" title="How fuel prices are determined in India" msid="90581321" hostid="261"></div> Before we let you go, do check out Business Insider India’s personal finance series Money Insider, which brings together the country’s leading ‘Fin-fluencers’ who are heralding a new beginning in the world of financial literacy <div type="image" title="BI India launches Money Insider" msid="90575972" hostid="261" caption="&amp;lt;p&amp;gt;BI India launches Money Insider&amp;lt;/p&amp;gt;"></div>

Simply Put: Will petrol prices in India stabilise anytime soon?

<ul><li>The Indian government is reportedly all set to increase <keyword id="6354679" type="General" weightage="80" keywordseo="gst" source="Orion">GST</keyword> on online gaming to 28%, a proposal that could spell trouble for the industry and players alike. </li><li>The online gaming industry is expected to cross $5 billion valuation by 2025, but the taxman’s greed could kill the golden-egg laying hen. </li><li>Experts are worried about the impact this could have on the industry – both the players and the businesses, which are still in their early days. </li></ul>The Indian government is reportedly all set to tax casinos, online gaming and horse racing at the highest slab of GST – 28%. Looks like the taxman is intent on treating these recreational activities and skills on par with tobacco, cigarettes, <a href="https://www.businessinsider.in/cryptocurrency/news/28-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/articleshow/92407767.cms">cryptocurrencies</a> and luxury cars. Online betting, gambling, casinos and horse racing have long been treated ‘unfairly’ by the Indian taxman – while GST has been considerably moderate at 18% until now. Winnings and other income earned from these activities have been taxed at the highest rate of 30% without any deductions whatsoever. Now, a new <a href="https://economictimes.indiatimes.com/news/economy/policy/28-gst-likely-on-casinos-online-gaming-horse-races-on-gross-revenue/articleshow/92474293.cms?from=mdr">report</a> suggests that the government is mulling increasing the GST rate to 28% – the highest in effect currently. This will be applicable on compulsory food and beverages as well, driving up the costs for businesses and participants. <div type="Article" hostid="261" msid="92356710" title="INTERVIEW: The big picture on 5G, Big Tech-telco war with COAI’s Dr SP Kochhar" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Fantasies are taxed too, and that too doubly" comment="subhead" text="Fantasies are taxed too, and that too doubly">Fantasies are taxed too, and that too doubly</cmsannotation> The government proposal says that GST will be charged on the gross revenue, not the net value added, which goes against both global tax ethics – as well as the very foundation of the GST regime, which intends to remove the undesirable double taxation effect. "Taxing online gaming, horse racing, and casinos at gross revenue instead of net value addition would be a departure from the global tax ethics," Rajat Mohan, senior partner, AMRG &amp; Associates told PTI. This could have an adverse impact on the entire industry. For instance, the online gaming sector which includes the likes of MPL, Zupee, Winzo and other startups, is expected to cross $5 billion in valuation by 2025, according to a <a href="https://www.ibef.org/blogs/india-s-nascent-gaming-industry-on-the-rise">IBEF report</a>. The government earned nearly ₹1,500 crore from fantasy sports in the form of taxes in FY21. A Deloitte report says that the combined industry contribution could cross a whopping ₹16,000 crore cumulatively over the next two years. And the taxman believes that he found a goose which lays golden eggs. <cmsannotation type="cmsannotation" annotationid="The costly game of confusion" comment="subhead" text="The costly game of confusion">The costly game of confusion</cmsannotation> The online gaming industry has been plagued by the ambiguous nature of government’s tax policies. The taxman has often been said to be confused about the nature of online games – whether those involve skills or are just gambling. It might be justified to tax gambling at the highest rate of tax, but experts believe that punishing games of skill in the same manner is unfair. To make matters worse, the government wants to raise the tax from 18% to 28%. <cmsannotation type="cmsannotation" annotationid="Mukesh Ambani, Rakesh Jhunjhunwala and more, to be affected" comment="subhead" text="Mukesh Ambani, Rakesh Jhunjhunwala and more, to be affected">Mukesh Ambani, <keyword id="6398943" type="General" weightage="80" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> and more, to be affected</cmsannotation> This can also have an adverse impact on telcos, which are banking on online gaming as a new revenue stream as the industry seems to be entering a phase of stagnation. “Rather than being just the pipe, telcos like Jio (RIL owned) and Bharti are focusing on gaming as an incremental source of ad/subscription revenue. In fact, RIL believes that gaming in India will be bigger than music, movies and television shows put together,” said a report by Bank of America Securities. This could also impact <keyword id="201442" type="General" weightage="50" keywordseo="delta-corp" source="Orion">Delta Corp</keyword>, the only listed casino operator in the country which has seen its fortunes fade away, with even Rakesh Jhunjhunwala paring down his holdings in the company considerably. <div type="javascript" title="Custom" contenttype=""><cdata><![CDATA[]]></cdata></div> “This would be a distress the business model to a great extent as the touted super tax will have to be funded either by the platform, who do not make that kind of money in this business or would go on to reduce the prize pool size – effectively bringing down the interest in customer engagement,” Adarsh Somani, senior partner at ELP Law, told Business Insider India. This would wreak havoc on the gaming industry, and even if the government wants to reduce difficulties by offering a single – but higher – rate of tax, the valuation methodology will have to be made clear, Somani added. As things stand today, there is plenty of ambiguity that will have to be worked out by the government – even a small misstep could spell a lot of trouble for the gaming industry and its participants. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/auto-and-finance-stocks-can-bounce-back-even-if-the-market-crashes-in-july/articleshow/92436186.cms">Auto and finance stocks can bounce back even if the market crashes in July</a> <a href="https://www.businessinsider.in/finance/news/rbi-kept-the-rupee-exceptionally-stable-so-far-and-the-tide-could-turn-for-the-better-say-experts/articleshow/92414356.cms">RBI kept the rupee ‘exceptionally’ stable so far, and the tide could turn for the better say experts</a> <a href="https://www.businessinsider.in/business/telecom/news/interview-the-big-picture-on-5g-big-tech-telco-war-with-coais-dr-sp-kochhar/articleshow/92356710.cms">INTERVIEW: The big picture on 5G, Big Tech-telco war with COAI’s Dr SP Kochhar</a>

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Stocktwits is entering India with fresh funding of $30 million and a partnership with Times Bridge

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Simply Put: Why are foreign banks quitting India?

Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker

Rounak Jain

Simply Put: Will petrol prices in India stabilise anytime soon?

India is betting on casinos, online games and horse races to fill its coffers

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