TMS Ep343: Joshimath, passenger vehicle, FMCG stocks, flight navigation

Cracks are wide open now. Hundreds of residents of Uttarakhand’s Joshimath are on road against development projects in nearby pristine but fragile Himalayan hills. And these cracks in their homes and subsequent protests have re-emphasised the need for striking a balance between nature and development. So is it being done in Joshimath? Or has this city fallen prey to unbridled development? 

It is not just Joshimath. Several other tourist cities tucked in the Himalayas are seeing similar tourist influx, and unplanned construction activities. Shimla, Dalhousie and Manali saw highest-ever tourist footfall on the New Year’s eve as traffic jams stretched to several kilometres. Speaking of traffic, last year passenger vehicle sales too broke all the previous records. Stable supply of semiconductors and increased consumer spending had offered a perfect setting. So will this momentum continue this year as well? 

While the car sales broke all the previous records, demand in rural FMCG sector remained sluggish last year -- pointing towards K-shaped recovery in the economy. But analysts are hopeful of a rural economy-led volume boost in FY24, as the RBI is stead-fast in its fight against inflation and expectations of populist measures by the government ahead of state elections are also rising. So does this mean that FMCG stocks may soon be turning the corner for investors? 

Parts of north India, meanwhile, are draped in dense fog. Several trains are being cancelled and flights are getting delayed, affecting thousands of passengers. But ever wondered how planes land and take off when there is almost zero visibility? Find out in this episode of the podcast.