Morning Scan: All the big stories to get you started for the day

Competition in the fast-growing quick commerce sector is heating up as Swiggy Instamart races to catch up with market leader Blinkit, the Business Standard reported. Instamart’s gross order value rose by 42.1 percent quarter-on-quarter to Rs 3,382 crore, compared with Blinkit’s Rs 6,132 crore for the same period.

Why it’s important: Instamart faces a tough challenge in narrowing the gap with the market leader. Although Swiggy’s dark store network is seeing improved order density, Blinkit has achieved better unit economics at a comparable scale. Heightened competition is good news for consumers.

#3. Canadian pension fund seeks to sell stake in Sahyadri Hospitals for at least $500 million

Ontario Teachers’ Pension Plan will likely launch a process to sell Sahyadri Hospitals early next year, less than 36 months after it announced the acquisition, the Economic Times reported. It had acquired Sahyadri with 1,000 beds and nine facilities in August 2022 for an undisclosed sum and is seeking upwards of $500 million for its controlling stake in the chain.

Why it’s important: The Canadian fund typically invests with a longer-term horizon, but could be exiting Sahyadri to capitalise on heightened investor interest in the healthcare delivery sector in India.

#4. India may ease security norms for satcom license in big win for Elon Musk’s Starlink

India is planning to relax security requirements for a satcom licence in what could be a big win for Elon Musk-owned Starlink, the Economic Times reported. The department of telecommunications has discussed and shared proposed changes with the four major players, which include Bharti-backed Eutelsat Oneweb, Reliance Jio-SES, Starlink and Amazon Kuiper, for providing their inputs in a week.

Why it’s important: The development comes amid signs of increasing cooperation between India and Musk, who has gained importance as a key ally of US president-elect Donald Trump. The move is likely to pave the way for the grant of satcom licences to Starlink and Amazon.

#5. Online fashion retailer Myntra launches 30-minute delivery service in select metros

Online fashion retailer Myntra has launched a 30-minute delivery service to become the first niche ecommerce platform to enter quick commerce at scale, the Economic Times reported. M-Now has gone live in some pockets of Bengaluru and will launch in Mumbai, New Delhi and Pune in the coming months.

Why it’s important: The quick commerce model In India is fast expanding from supplying groceries and daily essentials to electronics, lifestyle brands and more. Myntra had identified significant demand from premium customers for quick deliveries.

#6. Titan sees growth in analog watches and will scale up wearables business in 12-18 months

Premiumisation and product innovation is driving the growth of analog watch business for Titan Company, a segment that has been garnering good growth in the past few quarters, the Hindu Businessline reported. Over the next 12-18 months, the company will also be focusing on strengthening its wearables business play, according to managing director CK Venkataraman.

Why it’s important: Titan has been reporting robust business growth in analog watches as discerning consumers go in premium varieties in keeping up with the trend seen in other consumer products as well.

#7. Central government may keep capital spending at around 3.4 percent of GDP in 2025-26

The Union government may maintain its capital expenditure at around 3.4 percent of the nominal GDP in 2025-26, the Mint reported. At that level, which would be nearly the same as the current financial year’s target, the capex support may hover around Rs 12 lakh crore in 2025-26 in absolute terms.

Why it’s important: The aim of the federal government seems to prop up economic growth amid falling spending by the states. Worryingly, private sector investments are yet to gain sufficient momentum in the face of sluggish consumer demand.

#8. Competition between two stock markets set to become hotter on same contract expiry dates

Competition between Asia’s oldest exchange and its younger, bigger rival is set to hot up with BSE shifting its weekly Sensex contract expiry from next month. A regulatory nudge could have compelled both the exchanges to ensure their monthly and quarterly derivatives contracts expire on the same day as their respective weekly contract.

Why it’s important: The development comes at a time when the market regulator’s curbs to temper retail frenzy in derivatives have gotten underway. The shift would enable BSE to increase volumes of its weekly Sensex contract as traders will get to focus on it for three days instead of one.

#9. Study on disclosures shows India Inc keeps bribery and corruption cases under wraps

A study of the business responsibility and sustainability reporting disclosures reveal that bribery or corruption cases are not commonly reported in Indian companies, the Economic Times reported. According to the BRSR data, sourced from Prime Database, 92 percent of the top 1,200 listed companies have disclosed having an anti-corruption and anti-bribery policy but bribery and corruption cases are not commonly reported.

Why it’s important: Private corporations in India are not legally obligated to report bribery or corruption offenses. Companies often prefer to address corruption issues internally rather than risk public scrutiny or legal entanglements by reporting them.

#10. Low salaries could be self-destructive for corporate India, chief economic advisor says

Raising concern over poor compensation to employees by India Inc, chief economic advisor V Anantha Nageswaran has said this could adversely impact consumer demand and might prove to be self-destructive for the corporate sector, the Business Standard reported. “Now, it is time to engage in a good combination of capital formation and employment growth as well,” he said. “Without that, there will not be adequate demand in the economy for corporates’ own products to be purchased.”

Why it’s important: The economic advisor is concerned as recent lower urban wage growth has been cited by experts as one of the reasons for the seven-quarter low GDP growth in the September quarter.