| Good morning, BS readers! Welcome to Weekend Bites. This is where we chew over the biggest news and views of the week. Tuck in. Story of the week: Is the worst over for Adani? Sometimes one man, one decision, one investment can turn the tide. Apple was teetering on the edge in 1997 when Bill Gates’ Microsoft, otherwise an arch rival, stepped in with a $150-million investment. In 2008, Goldman Sachs was gasping for capital in the early days of the global financial crisis when Warren Buffett bought $5 billion worth of its preferred stock. Last week, Rajiv Jain-led GQG Partners bought $1.9 billion worth of stocks in four listed Adani companies, sparking a rally that carried on into this week. The decision by Jain, who is known to make winning bets on troubled companies, came as a Buffett-like vote of confidence at a time the Adani group had lost ₹12 trillion in market cap, pared its growth plans, and was desperately trying to allay fears over its debt levels. The Morning Show explained why Mr. Jain is besotted. On its part, the Indian conglomerate reportedly told investors in London that Gautam Adani and his family had prepaid all borrowings backed by Adani Group company shares. In six trading sessions between February 28 and March 8, the stock of Adani Enterprises, the group flagship, gained 71% and recouped nearly ₹1 trillion in market cap. So, is the worst over for Adani stocks? We will have to wait a bit more to find out, because Indian stock markets from Thursday onwards are cowering under the glare of US Federal Reserve Chairman Jerome Powell (their RBI Governor), leading to what our Edit called Shifting Expectations, and singing the doleful tune played by Silicon Valley Bank. In other news… Rohit Jawa will be the new Big Boss at HUL, taking over from Sanjiv Mehta, who retires after 10 years at the helm. Jawa, 56, joined HUL in 1988 as a management trainee and is currently the Chief of Transformation for Unilever in London, “where since January 2022, he has successfully orchestrated the once-in-a-decade, end-to-end transformation of Unilever”, HUL said yesterday. At long last, things are moving for the homebuyers of Jaypee, who would be keeping their fingers crossed for any more legal hurdles. The National Company Law Tribunal cleared the acquisition of Jaypee Infratech by Mumbai-based realtor Suraksha Group, raising hopes of more than 20,000 homebuyers waiting for a decade to get the keys to their apartments. Suraksha is owned by Sudhir Valia, brother-in-law to Sun Pharma Chairman Dilip Shanghvi. The government brought the trading of cryptocurrency and digital assets within the ambit of the Prevention of Money Laundering Act (PMLA). The move comes at a time India — as the G20 President — is looking to drive the narrative among global leaders and regulators on the dangers of crypto–currency. China raised its defence budget by 7.2% to $225 billion, three times India's. Many global and regional powers have increased their military spending in 2023, partly as a consequence of the Russia-Ukraine conflict. The US is topping the list with a military budget of $817 billion. Tech-talk: Word from the world of technology and start-ups Is the so-called funding winter for start-ups in India seeing its first signs of thaw? Abu Dhabi Investment Authority and private equity fund ChrysCapital are in negotiations to acquire a stake in eyewear start-up Lenskart for $600 million, say our sources. You would have heard the old adage about the left hand not knowing what the right hand is doing. At Business Standard, all the arms know what the other is doing, but that does not stop them from doing their own thing. So, the print edition reported the Essar Group was making a quiet but big comeback into steel making with a global footprint and an investment of $8 billion over three to four years. The TMS took it forward and analysed the Ruia families’ chances. Do not miss it. What is Suveen obsessed with these days?
There are worms crawling out of the proverbial can as you read this. Those using social media and other online channels to influence you to buy something or the other are not going to have a free run anymore. The government, on Monday, stated in black and white its guidelines for paid endorsements by social media influencers, clarifying what it meant by the use of words like advertisement, sponsored, collaboration, or paid promotion. It matters because, as our readers would know, 7 in every 10 Indians might end up buying a product endorsed by an influencer.
Exciting times are ahead as the guidelines take effect. Several questions arise: - Will this influence the influencers to build revenue streams other than brand tie-ups?
- Will legal will become a big department at influencer management and digital marketing agencies?
- Once the label of “sponsored content” is attached, will the viewership plummet?
- Credibility will, won’t it?
But no sweat, we will continue to bring you the answers. Have a fun weekend and a productive week ahead. This is Suveen Sinha, Chief Content Editor, Business Standard, signing off. See you next Saturday. Please send any comments – odd or even – to suveen.sinha@bsmail.in. | 
