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Volume IconTMSEp506: Chess revolution, onion price, FMCG stocks, Cauvery water dispute

What's behind India's chess revolution? Can govt measures wipe onion price tears? Will inflation concerns take a bite out of FMCG stocks? What is the Cauvery water dispute? All answers here

ImageTeam TMS New Delhi

18-year-old Chennai youth R Praggnanandhaa gave a tough time to five-time chess world champion Magnus Carlsen before losing the world championship on Thursday evening. But even in his defeat, the runner-up of the 2023 FIDE World Cup announced India’s rise as a chess powerhouse on the global stage. India now has 81 chess grandmasters. So what is behind India’s chess revolution? 

A little government push may also go a long way in supporting the game. Moving on, the government recently levied a 40% tax on the export of onions to protect the consumers from the price shocks. But this move has put the already struggling farmers in a tight spot. Farmers across Maharashtra were seen protesting against the levy and the government has decided to procure onions at a matching price which the exports receive. But will these measures be enough to solve the problems for both the farmers and consumers? 

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Renewed inflationary concerns and El-Nino linked weather conditions have once again put consumer stocks under the spotlight. In the past one month, the Nifty FMCG index has declined 3% as against 1% fall in the Nifty50 benchmark. Going ahead, will rising inflation further distress the FMCG players? What should be your trading strategy? 

Uneven rains may indeed spell more trouble for FMCG firms. Meanwhile, trouble is brewing in south India again over the sharing of Cauvery river water. The Supreme Court has assured Tamil Nadu that it would constitute a bench to hear the state’s plea for the release of its share of river water. But what is this dispute all about? Listen to this episoce of the podcast for answers. 

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First Published: Aug 25 2023 | 11:55 AM IST

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