In this week's wrapup, we talk about Hari Shankar Tibrewala and why people are blaming him for the recent stock market dip, Revolving Door Incentive, why regional airlines struggle in the aviation business, the Soho House Frenzy and Delhi's garbage problem.

For the markets edition, we tell you why the shares of certain oil companies witnessed a massive rally in 2023.

We're talking about Indian Oil Marketing Companies (OMCs) like Indian Oil, HPCL and BPCL. Their stocks doubled in value in just a few months, thanks to strategic imports and high refining margins.

But a government-mandated price cut, and election jitters could jeopardise their revenue, signalling concerns for investors. And that may nudge them into think twice about throwing more money into these stocks.

You can read all about in our Markets edition here.

Meanwhile, here’s a recap of what we wrote over the week.

Did Hari Shankar Tibrewala crash the stock market???

Hari Shankar Tibrewala is a shadowy figure that has suddenly become important to the stock market. And mind you. We don't mean this in a good way.

Tibrewala is actually a businessman linked to the Mahadev betting scam. And allegations are that he made illicit gains by diverting funds from an illegal gambling app he launched into the Indian stock market.

The modus operandi?

Pump-and-dump schemes, driving up stock prices before cashing out at a hefty profit. The Enforcement Directorate even froze thousands of crores of shares in demat accounts linked to him. And investors now fear that Tibrewala's dubious dealings may have manipulated the stock market. Could they be right?

Well, you'll have to read our Monday's newsletter to find out.

What’s a Revolving Door Incentive?

The US is on the brink of saying goodbye to TikTok. Thanks to security concerns. And amidst all the hullabaloo is a surprise bidder, who wants to buy this video hosting platform in the US — Steve Mnuchin!

Haven't heard of him before? Well, we don't blame you because he worked for the US government during Donald Trump's presidency. Not anymore. Right now, he's just a regular US citizen. But the highlight is that in 2020, he had vociferously advocated for a ban on TikTok.

Wait... a former Us government official now wants to buy TikTok? Yeah, we know it's weird. But you could attribute it to something called a Revolving Door Incentive which we wrote about in Tuesday's newsletter. Click here to read it.

Can Fly91 fly where others couldn’t?

Manoj Chacko has finally realised a decade-long dream by launching a new regional airline — Fly91. All of this despite the aviation industry's setbacks and rejection from investors.

But there's one question that you might want to ask — Can it navigate the same challenges that other grounded airlines couldn't? We can't tell for sure. But exploring strategic collaborations with other airlines, benefits from reduced taxes on ATF and sustainable fuel blending might actually help.

Is that enough to soar above the industry's turbulence though? We wrote about it in our Wednesday's newsletter here.

The Soho House frenzy explained

Soho House!

If you haven't heard of it, it's a hotel chain that works on the model of exclusivity. You could say it's a members-only club, but only for those who are creative, have deep pockets and fit into Soho's definition of 'cool culture'.

And a few days ago, it made up its mind to expand its operations in India. Soho House will soon come to South Mumbai and Delhi! It's obviously betting big on the rising affluent class.

But Soho House's business model may not be as fancy as its food, folks or interiors. Ever since it made its stock market debut in the US in 2021, investors have been fretting over its perpetual losses and waning exclusivity. Can Soho House sustain itself with an expansion plan or is the era of exclusivity coming to an end?

Find out in our Thursday's newsletter here.

Can Delhi clear its garbage dumps?

When you think of good old Delhi, you probably think of tall historical structures, mouthwatering food and of course pollution. Yeah, they don't all sound great in the same phrase. But that's the sad reality, which may only get worse.

Why do we say that?

Actually, Delhi's allure is fading away amidst towering piles of garbage in places like Bhalswa, Ghazipur and Okhla. These are 3 of its biggest garbage dumping grounds. And they've only gotten taller over the years to a point that some of them have crossed the safety threshold over 2 decades ago.

But now, the city's municipal authorities are leaning on something called biomining to clear out this legacy waste by the year end and reclaim Delhi's beauty. But can it meet the deadlines it has set for itself?

Click here to find out.

Finshots Weekly Quiz 🧩

Here’s your chance to win some exclusive Finshots merch. All you have to do is click on this 👉🏽 link, answer all the questions correctly and tune in to our Sunday newsletter aka Sunny Side Up next week to check if you got lucky.

That's it from us this week. Have a great weekend!

Liked this wrapup? Don't forget to share it on WhatsApp, LinkedIn and X.

📢Finshots is also on WhatsApp Channels. Click here to follow us and get your daily financial fix in just 3 minutes.