In this week’s wrap-up, we discuss why BluSmart’s business model is facing serious questions, how a court battle over a rare disease drug could redefine medicine access, why Warren Buffett still isn’t buying gold even as prices soar, what a tiny tweak in India’s natural gas policy really means, and why the Earth is running out of helium.

And in this week’s markets edition, we tell you why Aditya Birla Real Estate decided to sell its pulp and paper business to ITC. 

Click here to read the entire markets story.

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With that out of the way, let’s recap what we wrote over the week.

BluSmart is knee-deep in trouble

BluSmart was once the darling of India’s clean mobility dreams. An all-electric cab service backed by climate funds, VCs, and tons of goodwill. But things have gone south lately. Several top executives have resigned and its key financier, Gensol, defaulted on ₹470 crores in loans.

So, what gives?

Turns out, BluSmart’s close relationship with Gensol Engineering — the company that leased it thousands of EVs using government-backed loans — may have helped it scale fast, but also raised some red flags on governance.

And with Gensol now defaulting on loans and investors getting jittery, BluSmart faces an uphill climb to stay in the race. The bigger question though? Can it run on its own — or was it always just piggybacking on Gensol?

That’s something we answer in our Monday’s newsletter.

Risdiplam & the cost of survival: Is pharma playing fair?

Imagine having a rare disease. Then imagine the cure exists—but it costs ₹70 lakhs a year. Ouch!

Well, that’s the story of Spinal Muscular Atrophy (SMA) patients and Roche’s life-saving drug, Risdiplam.

Indian pharma company Natco wants to sell a cheaper version. But Roche holds the patent till 2035. So they went to court, and for once, the court sided with affordability. It refused to block Natco’s generic version, pointing to Roche’s astronomical markups and questionable patent extensions.

But this whole thing has raised the age-old debate — should life-saving drugs come with life-crushing price tags?

So yeah, it’s more than a legal fight. It’s about ethics, monopolies, and India’s place as the world’s pharmacy. And we break it all down for you in our Tuesday’s story.

Why Warren Buffett isn't a fan of gold

Gold just hit record highs, and everyone is rushing in. Everyone, that is, except Warren Buffett. 

The Oracle of Omaha still isn’t impressed. Because gold, unlike stocks or businesses, doesn’t earn or create anything. It just... exists. While the shiny metal may be riding on fears of global uncertainty, Buffett’s view is clear — gold doesn’t pay dividends, doesn’t innovate and isn’t productive. And yet, with returns outpacing stock markets recently, people can’t seem to resist the glitter. 

But hey, just because it looks good on paper doesn’t mean it belongs in your portfolio or does it? You can read our Wednesday’s newsletter to find out!

The economics of rising natural gas prices

This week, India quietly tweaked its domestic natural gas pricing—raising the cap price for the first time in two years.

Now, at first glance, a small 4% hike might seem harmless. But it’s a big deal. It affects how much you pay for CNG, how much farmers pay for fertiliser, and how much the government has to subsidise.

Throw in a weak rupee, global gas volatility, and rising demand, and you’ve got a real challenge on your hands. And the dream of gas fueling India’s clean energy ambitions? It’s now a tightrope walk. And that’s something we talk about in our Thursday story.

Why all the helium might disappear into space forever

Helium might seem like party balloon stuff, but it powers MRI machines, semiconductors, rockets, and even barcode scanners. And here’s the problem: we’re running out.

You see, once helium escapes into the atmosphere, it drifts into space. Forever. And it can’t be manufactured either. Plus, with supplies concentrated in a few countries, rising demand from AI and medical tech, the world’s in a tight spot.

India, which imports all its helium, is especially vulnerable. 

Sure, there’s some hope in Tanzania’s massive new discovery, but until that’s up and running, we’re in for a crunch. And to know more about all the economics behind this precious gas, you can check out our Friday’s newsletter here.

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