In today’s briefing:
- Thematic Report: Electric Two-Wheeler Market in India
- Ohayo Japan | Stocks Rally on US-UK Trade Deal
- Japan Morning Connection: Market Risk on with Trump Telling Punters to Buy Ahead of W/E
- #143 India Insight: DoT Clears Starlink, NSE Eyes Power Trade, IndusInd Staff Under Probe
- India-UK FTA: Early Thoughts on Trade and Opportunity
- Cement Wars: Ultratech Vs Adani Cements
Thematic Report: Electric Two-Wheeler Market in India
- India’s Electric Two-Wheeler (E2W) market is expected to surge from 5.1% penetration in FY2024 to 35-40% by FY2031, growing at a CAGR of 41-44%.
- The E2W sector’s growth is driven by government support, rising fuel costs, air pollution concerns, and a young, tech-savvy population, making it a key player in India’s sustainable mobility transition.
- E2Ws are set to dominate India’s two-wheeler market, offering consumers cost-effective, eco-friendly alternatives, reshaping mobility and providing new investment opportunities in the automotive and energy sectors.
Ohayo Japan | Stocks Rally on US-UK Trade Deal
- US stocks rose after President Trump announced a US-UK trade deal and expressed optimism for upcoming China trade talks, fuelling hopes of easing global trade tensions
- NTT will acquire the remaining 42% of NTT DATA’s shares through a tender offer worth approximately 2,370 billion yen, taking the company private
- Nintendo forecasts selling 15 million units of its new Switch 2 console in the fiscal year ending March 2026.
Japan Morning Connection: Market Risk on with Trump Telling Punters to Buy Ahead of W/E
- UK deal and anticipation of a positive outcome to China talks lifting positioning into risk assets.
- Quantum computing names flying after D-wave numbers may lift Socionext.
- Nintendo numbers obviously conservative, while Ibiden points to a bigger NVDA product mix + index upside.
#143 India Insight: DoT Clears Starlink, NSE Eyes Power Trade, IndusInd Staff Under Probe
- Starlink receives DoT approval for satellite internet in India, partnering with Jio and Airtel, targeting rural and remote areas.
- NSE receives Sebi’s in-principle approval to launch electricity derivatives. Discussions on contract structure and tenure are ongoing.
- Grant Thornton identifies 25 Indusind Bank (IIB IN) staff involved in accounting lapses. Some may be retained, others face termination.
India-UK FTA: Early Thoughts on Trade and Opportunity
- India-UK FTA negotiations officially concluded May 6, 2025, securing tariff-free UK market access for many Indian goods.
- Eliminating UK duties boosts Indian textile competitiveness significantly and improves mobility for service professionals, driving trade growth.
- Increases optimism for Indian textile, IT, and export-focused stocks as the FTA unlocks substantial new opportunities.
Cement Wars: Ultratech Vs Adani Cements
- The Indian cement industry saw strong demand in Q4 FY25, with industry volume growth of 4% YoY and leading players reporting double-digit sales growth.
- Demand in April 2025 was weak across most regions due to severe heatwaves and labor shortages, slowing construction activity significantly.
- Cement demand is expected to grow at 7–8% in FY26, driven by infrastructure projects and housing, with major players expanding capacity.
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