Daily BriefsThematic (Sector/Industry)

Daily Brief Thematic (Sector/Industry): #86 India Insight: Microfinance Grows 7.6% and more

In today’s briefing:

  • #86 India Insight: Microfinance Grows 7.6%, Nippon AMC Fund Launch, FHRAI Challenges Swiggy, Zomato
  • Blue Lotus China Growth Equity Weekly (2/2025): Tesla Heading into a Different Chinese EV Market
  • Blue Lotus Non-US Internet Weekly Wrap (2/2025): Tencent’s Inclusion and Exclusion from US Sanctions


#86 India Insight: Microfinance Grows 7.6%, Nippon AMC Fund Launch, FHRAI Challenges Swiggy, Zomato

By Sudarshan Bhandari

  • The microfinance sector sees 7.6% YoY growth, but quarterly loan book shrinks by 4.3%. Rising delinquencies, particularly in Odisha, Uttar Pradesh, and Tamil Nadu, raise concerns.
  • Nippon Life India Asset Management (NAM IN)  launches the Nippon India Large Cap Fund GIFT in GIFT City, offering global investors access to India’s equity market.
  • FHRAI and NRAI are challenging Swiggy (SWIGGY IN)  and Zomato (ZOMATO IN)  private labels, Snacc and Bistro, alleging market manipulation and anti-competitive practices. 

Blue Lotus China Growth Equity Weekly (2/2025): Tesla Heading into a Different Chinese EV Market

By Eric Wen

  • China’s 2025 trade-in subsidies now include smartphones and ICE vehicles, but with a price caveat that excludes Apple, positive for Xiaomi and JD.com;
  • China limits export of LFP battery technology, but lowers import tax again;
  • ICE-Turned EV makers continue to enjoy product superiority. The watchouts for 2025 are BYD and Geely. Tesla’s sales may peter out from C2H25.

Blue Lotus Non-US Internet Weekly Wrap (2/2025): Tencent’s Inclusion and Exclusion from US Sanctions

By Ying Pan

  • We believe Tencent’s inclusion in the US DoD CMC List and removal from USTR’s NML are both non-events in the long run but not in the short run;
  • Latest data in holiday travel, parcel volume and home sales painted robust start in 2025, but unstable equity market posts a looming threat;
  • NetEase’s newly released games were well-received and above our expectations. New game pipeline also brightens outlook.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars