Newsletter
Inflation edges higher, Qualcomm backs India startups, and mega agrochem deal.
🗓️ Morning, folks! ☀️
Markets tried to bounce back during the day but closed in the red for the second straight session. Sensex & Nifty ended 1% lower.
Auto stocks took the biggest hit. The Nifty Auto index has fallen over 6% in the last two sessions.
A few stocks managed to buck the trend though. Coal India jumped nearly 5% to become the top Nifty gainer. On the flip side, food delivery platforms Eternal and Swiggy dropped up to 3% amid concerns over LNG shortages affecting restaurant operations.
💡Spotlight: Oil tensions spark rally in renewable stocks ☀️
While the broader market stayed weak, renewable energy stocks lit up the screen on Thursday. Investors shifted money into solar and wind companies as rising crude oil prices and Middle East tensions made clean energy plays more attractive.
Some of the biggest movers included NTPC Green Energy which gained 13%, Solex Energy up nearly 12%, KPI Green Energy saw 9% jump & Saatvik Green Energy ended 4% higher.
Let’s hit it!
1. Inflation ticks up after brief cooling 📈
India’s retail inflation rose to 3.21% in February, up from 2.74% in January, coming slightly above expectations.
What happened: the main push came from food prices, where inflation climbed to 3.47% from 2.13% a month earlier. Even though the rise isn’t alarming, it signals that price pressures are slowly building again after a brief cooling phase.
A key change: the government has also updated how inflation is measured. The CPI basket now has 358 items (vs 299 earlier) and uses 2024 as the new base year instead of 2012.
Interestingly, food now makes up less than 40% of the index, while non-food categories account for over 60%, reflecting how Indian consumption is shifting beyond basic essentials.
What next: if food prices stay contained and global commodity prices don’t spike, inflation could remain manageable. But any supply shocks or energy price spikes could quickly push it higher again, something the RBI will be watching closely.
2. India moves early to avoid LNG shortage 🌏
GAIL has reportedly bought a fresh LNG cargo from Oman to plug a potential gas supply gap as the Iran–US conflict disrupts global energy flows.
Context: the tension due to the Iran conflict has started tightening global gas supply, especially after shipments through the Strait of Hormuz. India imports about half of its natural gas needs, so any disruption hits quickly.
What’s going on: early signs are already getting seen. Some Bengaluru hotels reportedly cut operations, and companies like Infosys have trimmed cafeteria menus, as commercial gas supply tightens.
The government says there is no reason to panic. India consumes about 195 million standard cubic metres of gas daily, and authorities have already stepped in to prioritise supply for households, transport (CNG), and cooking gas (PNG/LPG).
Big picture: India has been diversifying both suppliers and shipping routes to reduce dependence on sensitive choke points like the Strait of Hormuz. One major alternative has been increasing crude imports from Russia
3. Health startup Mosaic Wellness raises ₹200 cr for expansion 💊
Consumer health startup Mosaic Wellness has raised ₹200 crore in fresh funding from 360 ONE Asset, while early investor Spring Marketing Capital partially exited through the deal.
Mosaic runs digital-first health brands like Man Matters, Be Bodywise, Little Joys, and Root Labs.
Why it matters: Mosaic has quietly scaled fast. Its revenue jumped 2.2× to ₹736 crore in FY25, while net losses shrank 69% to ₹12 crore. The company says it has already been profitable for more than a year, and the fresh capital will help expand its consumer health platform.
Zoom out: India’s digital health and wellness market is exploding. The sector is already worth $12–15 billion and is expected to cross $40 billion by 2030 as younger consumers increasingly turn to online consultations, personalised supplements, and preventive healthcare.
4. Qualcomm eyes India startups for low-cost global AI 💸
Chipmaker Qualcomm is looking to back Indian startups building affordable, globally scalable AI technologies through its venture arm.
The deets: investments will be routed via Qualcomm Ventures through a $150 million India-focused Strategic AI Venture Fund. It will back AI and deep-tech startups across different sectors especially those building physical and edge-AI applications.
Why now: India is ramping up policy support for AI and semiconductor manufacturing, and Qualcomm plans to support founders not just with capital but also product development, go-to-market strategy, and global partnerships.
The bigger race: global tech giants like Nvidia, Microsoft, and Google are also expanding their AI footprint in India through infrastructure and initiatives like the IndiaAI Mission.
5. Stock market trades boost government tax collections 📈
India’s Securities Transaction Tax (STT) collections have surged dramatically over the past decade. The tax which is charged on buying and selling shares and derivatives has grown from about ₹7,350 crore in FY15 to around ₹63,700 crore in FY26.
The government is targeting ₹73,700 crore in FY27.
A big reason is the explosion in stock market participation and derivatives trading, especially among retail investors.
In fact, the government recently raised STT on Futures & Options trades in Budget 2026 to boost revenue further, making the stock market an increasingly important source of tax income for the exchequer.
6. Stocks that kept us interested 🚀
1. Inside Aarti Industries $150 million agrochem supply deal 🌾
Aarti Industries shares jumped over 4% after the company secured a $150 million (about ₹1,200+ crore) multi-year contract with a global agrochemical firm.
About the deal: the company will manufacture a key ingredient used to make crop-protection chemicals. These chemicals help farmers protect crops from pests and diseases.
Why it matters: India’s agriculture sector contributes around 15–17% of India’s GDP and supports nearly 45% of the country’s workforce.
But crop losses from pests, diseases, and weeds remain a big challenge. According to estimates from the Food and Agriculture Organization (FAO), pests and diseases can destroy 20–40% of global crop production every year.
2. VA Tech Wabag wins ₹1,000+ crore Chennai water project 💧
VA Tech Wabag secured a “mega” order worth over ₹1,000 crore from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) to upgrade a 45 Million Litres per Day wastewater treatment plant in Kodungaiyur, Chennai.
The deets: the project involves refurbishing and upgrading a tertiary treatment reverse osmosis (TTRO) plant that converts treated wastewater into high-quality industrial water.
Zoom out: cities across India are increasingly recycling wastewater for industrial use to reduce pressure on freshwater resources.
With industrial corridors like Manali–Ennore and Manali–Minjur expanding, plants like these help ensure industries get water without straining urban drinking supplies
What else are we snackin’ 🍿
📈 User surge: India’s retail broking user base rose to 4.54 crore in February, with Groww adding the most new clients while Dhan crossed the 1 million user milestone.
💰 Debt raise: a unit of Adani Energy Solutions, Adani Transmission Step-One Limited, has raised $500 million through dollar bonds privately placed with Apollo Global Management.
💻 Deal win: Wipro has signed a multi-year deal with US insurer TruStage to modernise its retirement services business through a technology and operations transformation program.
And that’s a wrap. Pour yourself an extra one this weekend.
We’ll be back like clockwork on Monday!
Hit that 💚if you liked this issue.
