Indian Markets in Turmoil as Sugar Cosmetics Implodes and Copper Prices Soar

Sugar Cosmetics, once a poster child for India's D2C beauty boom, has seen its valuation plunge by nearly 80% in just two years. The company's troubles began when it struggled to turn its popularity into profitability, with high advertising and customer-acquisition costs eating into its margins.

Aluminium can shortages have forced Indian alcohol and beverage companies to turn to PET and glass bottles, but this workaround comes with its own set of challenges. Meanwhile, Arcil has entered the scene as a loan recovery firm that buys stressed loans from banks at a discount, aiming to recover more than it paid.

Copper prices are surging on supply chain uncertainties and growing demand for the metal, which is essential for electric vehicles and renewable energy infrastructure. The Aditya Birla Group has also entered the wires and cables market with a ₹1,800 crore investment, but will face stiff competition from established players like Polycab.