TMS Ep606: NRI homes, coffee culture, Vodafone Idea, maritime corridor

Despite a high interest rate regime, India’s real estate sector continued to expand at a fast clip in 2023. A growth which was primarily driven by home buyers. While sales of budget homes jumped, luxury apartments sold like hot cakes -- with many disappearing within hours of opening of bookings. And a big chunk of them were bought by deep-pocketed Non-Resident Indians. But there is a worry in some quarters. That NRIs' increased investment may be pushing the prices of homes, making them unaffordable for many. 

For most of us, home means a place to slow down. A place where we find warmth of family, and, of course, a hot cup of tea or coffee in this cold winter. Traditionally, we have been a nation of tea drinkers, barring pockets in the south where coffee has long been relished. But, with a rise in people’s income and increased exposure to the west, coffee has slowly but steadily been making inroads in our daily routine. Coffee shops, run by both foreign as well as domestic brands, are dotting markets and shopping centres like never before. So have we matured as a coffee drinking nation? 

Let us now see what is brewing on Dalal Street. Vodafone Idea has been unable to arrest the market share loss to its rivals. But, the stock of the debt-ridden telco has far outperformed its listed peers, with a 100% rally in the last one year. So, is the strength sustainable or are the gains overdone? 

Analysts, meanwhile, believe that due to customer losses, Vodafone Idea’s revenue is likely to remain stagnant in the December quarter. Moving on, the trade between India and Russia increased by over 200% year-on-year in the first two quarters of FY24. And just last month, both the countries agreed to establish the Chennai-Vladivostok maritime corridor. Find out more about this new route and how will it help both the countries in this episode of the podcast.