Market Recap: Weekly Update

(February 17, 2024)

YTD refers the Returns from January 1, 2024 till February 16, 2024

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: Mahindra & Mahindra (11.51%), Wipro (10.43%), UPL (7.17%), Bajaj Auto (6.75%), Bharat Petroleum (6.71%).
• India’s foreign exchange reserves declined by $5.240 billion to $617.230 billion in the week that ended Feb 9.
• NMDC Q3 Results: Net profit rises 62% to ₹1,470 crore, revenue up 45% YoY.
• Gland Pharma Q3 results: Net profit down 17%, revenue up 65%.
• M&M’s net profit for Q3 surged 61% year-on-year (YoY) to ₹2,454 crore. Revenue increased 17% YoY to ₹25,289.
• NALCO Q3: Company reported an 83.6% year-on-year (YoY) jump in net profit to ₹470.6 crore. Revenue from operations increased 1.5% to ₹3,346.9 crore.
• ACC Q3 FY24 results: Profit up 378% at Rs 527 crore. revenue from operations came at Rs 4,918.3, up by 7.44%

Startup, M&A Deals

• Student accommodation platform Amber raised $21 million from Gaja Capital, Lighthouse Canton, and Stride Ventures.
• Spiritual-tech startup AstroTalk raised $20 million from New York-based venture capital firm Left Lane.
• Captain Fresh, a B2B fish and seafood tech startup, raised $25 million from British International Investment and Nekkanti Seafoods Group as well as a few family offices.
• Pet care startup Supertails raised $15 million from RPSG Capital Ventures, Fireside Ventures, Saama Capital, DSG Consumer Partners, and Sauce VC.
• Metalbook, a B2B startup, raised $15 million from Rigel Capital, Venture fund FJ Labs,Axilor Ventures, Foundamental, Stride Ventures, and Trifecta Capital.
• Fintech startup Ayekart raised $6.5 million from Omnivore, Siana Capital, and Unleash Capital Partners.

Checkout the last week’s Market trends here: Market Recap (February 10, 2024)

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Market Recap: Weekly Update

(February 10, 2024)

YTD refers the Returns from January 1, 2024 till February 9, 2024

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: SBI (11.64%), Bharat Petroleum (10.02%), Coal India (8.67%), Sun Pharma (8.34%), TCS (4.22%).
• RBI keeps interest rates unchanged – Repo rate remains at 6.50%
• Oil rises for fourth straight sessions on Gaza ceasefire rejection. The price crosses $80.
• Divi’s Lab Q3 results: Net profit up 17% to Rs 358 crore. Revenue came in at Rs 1,855 crore up 8.6 percent.
• LIC Q3 results: Net profit jumps 49% to Rs 9,444 cr. Net Sales at Rs 213,344.77 crore, up 8.32% Y-o-Y.
• Tata Power Q3 net profit remains muted at Rs 1,076.12 crore. Revenue increased by 6.2 percent to Rs 15,294.13 crore.
• Hero MotoCorp Q3 Results: Profit surges 51% YoY to Rs 1,073 crore. Revenue from operations grew 21% YoY in the quarter to Rs 9,724.

Startup, M&A Deals

• Creator-focused platform Wishlink raised $7 million from Fundamentum and Elevation Capital.
• Home automation startup Keus Smart Home Automation raised Rs 100 crore ($12 million) led by OAKS Consumer Fund.
• Fintech startup focused on mobility segment OTO Capital raised $10 million from GMO Venture Partners, Turbostart, Prime Venture Partners, Matrix Partners, and 9Unicorns.
• EV-focussed NBFC startup Mufin Green Finance raised Rs 140 crore ($16.8 million) from a group of family offices
• EV startup River raised $40 million from Yamaha Motor Co, Al-Futtaim Automotive, Lowercarbon Capital, and Toyota Ventures.
• Metafin, a cleantech-focused NBFC, raised $5 million from Prime Venture Partners and Varanium Capital.

Checkout the last week’s Market trends here: Market Recap (February 3, 2024)

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Market Recap: Weekly Update

(February 3, 2024)

YTD refers the Returns from January 1, 2024 till February 2, 2024

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: Bharat Petroleum (17.70%), Power Grid Corporation (12.87%), Adani Ports & SEZ (10.07%), ONGC (9.91%), Adani Enterprises (9.12%).
• The Indian Government increased the windfall tax on petroleum crude to ₹3,200 per tonne from ₹1,700 per tonne.
• SBI Q3 reults: Net profit – Rs 9,163.96, down 35.4% (YoY)
• Net interest income: Rs 39,815.73, up 4.5% (YoY)
• Tata Motors Q3 results: Net profit jumps 2x to Rs 7,025 crore. Revenue surged 24.9 percent on-year to Rs 110,577 crore.
• IndiGo Q3 results: Profit more than doubles to Rs 2,998 crore. Revenue from operations increased by 30.26 per cent to Rs 19,452 crore.
• Delhivery Q3 results: Logistics firm turns profitable, revenue jumps by 20% YoY to ₹2,194 crore.

Startup, M&A Deals

• SaaS startup MoveInSync raised $15 million from Bessemer Venture Partners.
• EV ride-hailing startup BluSmart raised $25 million from Zurich-based impact-focused investor responAbility Investments.
• Logistics startup Wiz Freight raised Rs 125 crore ($15 million) from SBI Investment, Tiger Global, Nippon Express, Axilor Technologies Fund, Foundamental etc.
• Grow Indigo: The agritech startup raised $8 million as part of a funding round that saw participation from stakeholders Indigo Ag and Mahyco.
• p0: The AI-led cybersecurity startup raised $6.5 million from Lightspeed Venture Partners.

Checkout the last week’s Market trends here: Market Recap (January 27, 2024)

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Market Recap: Weekly Update

(January 27, 2024)

YTD refers the Returns from January 1, 2024 till January 26, 2024

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: Bajaj Auto (7.08%), Cipla (4.06%), Dr. Reddy’s Labs (3.91%), Power Grid Corporation of India Ltd. (3.5%), Bharti Airtel (3.27%).
• India’s direct tax-GDP ratio rises to 15-year high of 6.11% during FY23
• Vedanta Ltd’s consolidated net profit dropped by 18.30% to Rs 2,013 crore in the December 2023 quarter, while consolidated revenue rose 3.76% to Rs 34,968 crore.
• YES Bank Q3 Results: PAT soars 4x YoY to Rs 231 crore, NII rises 2.4%.
• PNB Q3 results: Net profit rises three fold to Rs 2,222 crore. Total income rose 16% to Rs 29,962 crore in the December 2023 quarter.
• Tata Steel Q3 results: Net profit at ₹522 crore, revenue down 3% YoY.

Startup, M&A Deals

• Ecofy, an NBFC that focuses on supporting green projects raised $10.8 million from FMO, a Dutch Entrepreneurial development bank.
• Ola Founder Bhavish Aggarwal’s Large Language Model (LLM) startup Krutrim has raised $50 million from Matrix Partners and others at a valuation of $1 billion.
• IBS Software acquires APS for $90 million, focuses on growth in hospitality sector.
• Nazara Technologies picks up 10.77% stake in Kofluence for Rs 32.42 cr.
• DMI group acquires BNPL startup ZestMoney in a distress sale deal.

Checkout the last week’s Market trends here: Market Recap (January 20, 2024)

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Market Recap: Weekly Update

(January 20, 2024)

YTD refers the Returns from January 1, 2024 till January 19, 2024

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: ONGC (8.35%), Tech Mahindra (5.93%), Apollo Hospitals (5.64%), Bharat Petroleum (5.42%), Coal India (4.64%).
• ICICI Bank Q3 Results: PAT jumps 24% YoY to Rs 10,272 crore, beats estimates. Its net interest income (NII) increased by 13.4% YoY to Rs 18,678 crore in Q3.
• Kotak Mahindra Bank Q3 Results: PAT rises 8% YoY to Rs 3,005 crore, but trails estimates.
• Reliance Q3 Results : Net profit rises 11% to Rs 19,641 crore. Consolidated revenues at Rs 248,160 crore, up 3.2% YoY.
• Polycab India Q3 results: Net profit up 15% to Rs 416 crore. Net sales for the quarter stood at Rs 4,340.47 crore, up 16.8 percent from a year ago.
• HUL Q3 Results: PAT rises just 0.6% YoY to Rs 2,519 crore, trails estimate. Revenue from operations fell 0.3% YoY to Rs 15,188 crore.

Startup, M&A Deals

• Fintech startup FinAGG Technologies raised $11 million from Tata Capital, Blue Orchard, SIDBI, Prime Venture Partners, and Gray Matter Capital.
• Wow! Momo Foods raised $49 million from Khazanah Nasional Berhad and OAKS Asset Management.
• EV startup ALT Mobility raised $6 million from Shell Ventures, Eurazeo, EV2 Ventures, Twynam, UC Inclusive, Piper Serica, Pitchright, and LetsVenture.
• Aquaculture technology startup AquaExchange raised $6 million from Ocean 14 Capital, Endiya Partners, and Accion Venture Labs.
• Manufacturing automation startup Groyyo raised $5.4 million from Lighthouse Canton and Trifecta Capital.

Checkout the last week’s Market trends here: Market Recap (January 13, 2024)

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Market Recap: Weekly Update

(January 13, 2024)

YTD refers the Returns from January 1, 2024 till January 12, 2024

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: Hero MotoCorp (9.85%), HCL Technologies (7.54%), Infosys L (5.23%), Reliance Inds.(5.13%), LTIMindtree (4.87%).
• US consumer price index increased 3.4% in the year through December, the most in three months according to government figures.
• TCS Q3 Results : Revenue grows 4% YoY, Income rises 8%.
• Infosys Q3 results: Net profit falls 7% YoY to Rs 6,106 crore.
• HCL Tech Q3 results: Net profit rises 6.2% to ₹4,350 crore, revenue up by 6.5%
• Wipro Q3 Results: PAT down 12% YoY to ₹2,694 crore, revenue drops 4.4% YoY.
• HDFC AMC Q3 net profit up 32% to Rs 488 crore, revenue jumps 20%.
• HDFC Life Q3 results: Net profit rises 16%, net premium income 6% up.

Startup, M&A Deals

• Varthana Finance has secured $14 million from Blue Earth Capital.
• Healthcare startup makeO raised $16 million from 360 ONE Asset, Eight Roads Ventures, Paramark Ventures, and the family office of Medlife founders.
• Healthcare startup CureBay raised Rs 62 crore ($7.5 million) from Elevar Equity and existing investors.
• B2B startup Karkhana.io raised $6.3 million from Arkam Ventures, Susquehanna Asia Venture Capital and Vertex Ventures Southeast Asia and India.
• Edtech startup ConveGenius raised $7 million from UBS Optimus Foundation, Mount Judi Ventures and others.
• Infosys announces acquisition of Insemi technology for ₹280 crore.

Checkout the last week’s Market trends here: Market Recap (January 6, 2024)

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Market Recap: Weekly Update

(January 6, 2024)

YTD refers the Returns from January 1, 2024 till January 6, 2024

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: Adani Ports & SEZ (12.68%), ONGC (5.56%), Adani Enterprises (5.53%), Bajaj Finance(5.23%), Tata Consumer Products (3.33%).
• Kay Cee Energy & Infra stock lists at 366% premium to IPO price on NSE SME.
• The SME IPO of Kaushalya Logistics was subscribed 390 times at close.
• India’s services sector growth surges to three-month high, cost inflation hits 40-month low.
• Nifty Realty Index gained by 98% in 2023.
• Inflation in the euro zone climbed to 2.9% in December, up from 2.4% fueling rate-cut debates.

Startup, M&A Deals

• Dairy brand Country Delight raised $20 million from Temasek, Seviora Capital and Venturi Partners.
• Wiz Freight raised $11.24 million from SBI Investments, Tiger Global, Nippon Express Fund, and Axilor Technologies Fund.
• Captain Fresh raised $13.25 million from Nekkanti Sea Foods and Shakti Finvest.
• Food and beverage chain VRO Hospitality raised $10 million from Axis Bank, Gruhas, UC Inclusive Credit, NB Ventures and angel investors.
• Ansa Folding Carton acquires majority stake in Rich Printers for Rs117 crore.

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Market Recap: Weekly Update

(December 16, 2023)

YTD refers the Returns from January 1, 2023 till December 15, 2023

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: HCL Technologies (9.32%), LTIMindtree (7.37%), Hindalco Indus. (7.09%), NTPC (7.03%), Tech Mahindra (6.59%).
• U.S. Federal Reserve, RBI keeps interest rates unchanged.
• Doms Industries IPO: Issue subscribed 93.4 times, generating bids worth Rs 65,293 crore.
• IPO of India Shelter Finance Corporation, which also concluded on Friday, was subscribed nearly 37 times.
• IPO of Inox India was subscribed seven times on the penultimate day of its issue.
• Indian exports declined 2.8 per cent year-on-year to $33.9 billion in November, while imports dipped 4.3 per cent to $54.5 billion, leading to the narrowing of the trade deficit at $20.6 billion.

Startup, M&A Deals

• Sports company Agilitas Sports raised Rs 100 crore (about $12 million) from Nexus Venture Partners.
• Menswear fashion brand Snitch‎ raised Rs 110 crore (about $13.2 million) from SWC Global and IvyCap Ventures Advisors Private Limited.
• EV startup Exponent Energy raised $26.4 million from Eight Roads Ventures and TDK Ventures.
• B2B e-commerce startup Udaan raised $340 million from M&G Plc, Lightspeed, and DST in an equity and debt transaction.
• Aye Finance raised Rs 310 crore (about $37.2 million) from British International Investment (BII), The Waterfield Fund of Funds, and A91 Partners.
• Mirae Asset acquires Sharekhan for ₹3000 crore.

Checkout the last week’s Market trends here: Market Recap (December 9, 2023)

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Market Recap: Weekly Update

(December 9, 2023)

YTD refers the Returns from January 1, 2023 till December 8, 2023

Index Valuation and Earning

Exchange Rates, Brent Crude & Gold

FII and DII Weekly Trading Data

FII

DII

Key Market Updates

• Nifty 50 top gainers: Adani Ports & Special Economic Zone (23.57%), Adani Enterprises (19.45%), Power Grid Corporation (8.75%), SBI (7.42%), Bharat Petroleum (7.41%).
• The OPEC+ agreed last week to new voluntary cuts of about 2.2 million barrels per day, led by Saudi Arabia and Russia.
• The Indian economy grew 7.6% during the July-September quarter for fiscal 2023-24 (Q2FY24).
• The Year 2023 has been a fantastic year for IPO investors, with its top 10 listing IPOs reporting an average listing gain of 83.2%.
• RBI, Bank of England sign MoU on co-operation and information exchange related to CCIL.

Startup, M&A Deals

• CoreEL Technologies has raised $16 million from 360 ONE Asset Management.
• D2C startup The Sleep Company raised $22 million from Premji Invest and Fireside Ventures.
• Dairy fintech startup Digivriddhi Technologies raised $6 million from Omidyar Network India, Omnivore and InfoEdge Ventures.
• Gen AI startup Sarvam AI raised $41 million in Series A round led by Lightspeed Venture Partnersand supported by Peak XV Partners and Khosla Ventures.
• PCBL board okays buyout of Pune-based Aquapharm Chemicals for ₹3,800 crore.
• Jubilant FoodWorks to acquire the remaining 51.16% of DP Eurasia for €73.36 million via a subsidiary.

Check out the last week’s Market trends here: Market Recap (December 2, 2023)

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Check out: Market Recap – Weekly Update (December 16, 2023)

Introduction:

Edtech, or educational technology, is revolutionizing how India learns. Imagine ditching heavy textbooks and tuning into interactive lessons, catching up with missed classes through recorded videos, or learning at your own pace with personalized plans. That’s the magic of edtech!

Fueled by a pandemic that pushed us online and a nation brimming with young minds, Indian edtech has boomed. Startups are filling the gaps in our traditional system, offering high-quality content that’s affordable and accessible, even in remote areas. No more teacher shortages or one-size-fits-all learning. Edtech is personalizing education, making it more engaging and effective than ever before. With its focus on innovation and a supportive ecosystem, India’s edtech story is just beginning. From villages to metros, edtech is leveling the learning field in India.

Key Indian Players in the EdTech Space

Growth Drivers for the EdTech Industry:

1. High Internet Penetration:

   • Active internet users in India expected to reach 900 million by 2025.
   • Growing smartphone use drives internet access, with users spending an average of 2 hours online daily.

2. Penetration of Smart Devices:

   • Global IoT connections expected to grow by 18% to 14.4 billion by the end of 2022.
   • Deeper penetration of high-speed internet and smartphones creates a robust network, fostering edtech opportunities.

3. Increasing Online Content Consumption:

   • Video consumption estimated to rise to 77% by 2022 (from 58% in 2017).
   • Edtech startups focusing on video content align with the growing trend in online educational consumption.

4. Young Employable Population:

   • Working population (15 to 64 years) comprises over 68% of India’s total population (2021).

   • Edtech startups targeting this demographic witness demand for skill development and certifications.

5. Increased Demand for Skilled Professionals:

   • New-age technologies (ML, AI, blockchain) create job opportunities with specific skill requirements.
   • Anticipated entry of 280 million individuals into the job market by 2050 drives demand for online reskilling platforms.

The following are some the KPIs to be considered which evaluating Edtech Startups/ Companies:

Teacher Retention:

• Indicates satisfaction and engagement of educators.
• High retention suggests a positive experience for teachers.
• Positively impacts student outcomes.

Student Churn:

• Reflects the rate at which students discontinue platform usage.
• Low churn indicates value in content and features.
• High churn may signal issues with engagement, relevance, or user experience.

Net Promoter Score (NPS):

• Measures likelihood of user recommendations.
• High NPS signifies satisfied users likely to promote.
• Monitors user satisfaction and perceived platform value.

Paid / Free Users:

• Gauges the ratio of paid to free users.
• Balances freemium or trial offerings effectiveness.
• Indicates success of monetization strategy and premium features’ perceived value.

Customer Acquisition Cost (CAC):

• Measures cost of acquiring a new customer.
• Lower CAC indicates efficient marketing and sales.
• Balances with Customer Lifetime Value (CLTV) for sustainable growth.

Customer Lifetime Value (CLTV):

• Estimates total revenue expected from a customer.
• Higher CLTV relative to CAC indicates a solid return on investment.
• Reflects long-term value from acquiring and retaining customers.

Gross Margin:

• Represents percentage of revenue exceeding cost of goods sold.
• Healthy gross margin is essential for financial sustainability.
• Indicates production efficiency and ability to cover expenses.

Customer Growth Rate:

• Measures speed of customer base expansion.
• Steady and sustainable growth is preferable.
• Rapid growth should consider scalability and quality maintenance.

Conclusion:

From dusty classrooms to digital classrooms, India’s education revolution is here, powered by edtech. With young minds, rising internet access, and a hunger for skills, the future of learning is bright. By understanding the key drivers like internet penetration, smartphone adoption, and changing content consumption habits, edtech startups can tailor their offerings to unlock the potential of India’s vast talent pool. India’s edtech ecosystem presents a compelling opportunity. While enthusiasm is warranted, a discerning approach is crucial. One must carefully evaluate the companies based on the parameters mentioned in the above article before making an investment decision.

Read about: India’s Electronics Sector and its Phenomenal Growth Potential