OPINION, P10 WELL BEING All that you need to know about a universal women's health concern that is still labouring in obscurity and lack of information Page 9 Trump embraces Xi, Modi in the cold FE LINES Smart shoes race past fashion into technology Page 6 MANAGING MENOPAUSE ACROSS THE AISLE, P CHIDAMBARAM For an AI-powered stride forward WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL. XXII, NO. 11 A MIRROR OF BIHAR’S POLITY FINANCIAL EXPRESS ON SUNDAY KOLKATA SUNDAY, NOVEMBER 9, 2025 28 Pages, `12 (NE States `13 & Andaman `20) P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , ■ IndiGo started Kolkata-Guangzhou flight on Oct 26; China Eastern’s Delhi-Shanghai service to begin Sunday THE INAUGURAL KOLKATAGUANGZHOU IndiGo flight on October 26 was packed, as have been the rest since direct flights between India and China resumed. With China Eastern’s Delhi-Shanghai service beginning Sunday and IndiGo’s daily Delhi- ■ SPOTLIGHT, P5 Beyond fairy tales Kids’ literature, long anchored in the world of animals, rhymes & moral stories, is seeing a new crop of writers, illustrators and editors making space for emotions and inclusion ■ LEISURE, P7 Margins to mainstream FPIS PURCHASED shares month.After a gap of three months, FPIs turned net buyers in October, investing a total of $1.6 bn (`14,610 cr) in Indian equities. Compiled by Kishor Kadam Top FPI buying ($ mn, October 2025) Top FPI selling ($ mn, October 2025) -198 Consumer durables -248 IT -351 Healthcare -391 Consumer services -482 243 Telecom FMCG 252 1,501 worth $1.5 bn (`13,279 cr) in the financial sector in October — the highest investment in the segment in the past six months, NSDLdata showed.They also bought shares worth $1 bn (`9,129 cr) in the oil and gas sector and $355 mn (`3,147 cr) in the metals and mining sector. In contrast, FPIs were net sellers in FMCG, consumer services, healthcare, and ITsectors during the Construction L U C K N O W , M U M B A I , ■ SOTC Travel's itineraries now combine Shanghai, Beijing, Chengdu, Chongqing, Zhangjiajie ■ IndiGo is also starting its daily flights between Delhi and China’s Guangzhou from November 10 Guangzhou flights from November 10,the travel sector is gung-ho about the new destination, made accessible just ahead of holidayseason. “China has made a strong comeback on the travel map, emerging once again as a des- ■ EaseMyTrip preparing to launch specially curated China tour packages ■ Yatra sees uptick in searches, advance enquiries for cultural, leisure hotspots tination of high interest among Indian travellers,” said RajeevKale,president & countryhead,holidays,MICE&visa, N E W D E L H I , P U N E Infra push driving India's development, says Modi Source: NSDL PRIME MINISTER NARENDRA Modi on Saturday said infrastructureisamajorfactorinthe economicgrowthofdeveloped countries around the world, andIndiaisalsomovingfaston the path of development. The PM was speaking after flagging off four new Vande Bharat Express trains from the Banaras railway station in Varanasi, his Lok Sabha constituency. “In developed countries across the world, the biggest reason for economic growth has been their infrastructure. In every nation that has achieved major progress, the driving force behind it has been infrastructure development,”Modi said. “Infrastructure is not just about big bridges and highways. Whenever such systems are developed anywhere, it Normalcy returns to DelhiAirport around 9 pm that the issue had been addressed. The IGI Airport in the national capital,which has four runways, handles more than 1,500 flight movements daily.“Allflightoperations are normal at DelhiAirport... passengers are advisedtostayintouch with their respective airlines for the latest flight updates,”DIAL said in a post onX. Earlier in the day, Delhi International Airport (DIAL) had said the technical issue that affected the AMSS is gradually improving. AIRLINE OPERATIONS AT the Delhi airport, the country’s busiest, are back to normal, airport operator DIAL said on Saturday,a day after a glitch with the air traffic control system delayed more than 800 flights. Thetechnicalproblem with the Automatic Message Switching System (AMSS), which supports the air traffic control’s flight planning process, continued for over 15 hours from around 5:45 am on Friday, before the Airports Authority of India (AAI) said at Continued on Page 2 sparks the overall development of that region,”he said. Underlining India’s fastpaced progress, the Prime Minister said,“With so many Vande Bharat trains running Parliament’s winter session from Dec 1 Continued on Page 2 ThinkInvestments infuses`136crore in PhysicsWallah FE BUREAU Bengaluru, November 8 PM Narendra Modi greeting people after flagging off four new Vande Bharat trains in Varanasi PRESS TRUST OF INDIA New Delhi, November 8 Thomas Cook India. After a five-year suspension,flights between India and China are once again operat- ing—at full capacity—signalling strong pent-up demandandrenewedcuriosity over one of Asia’s most diverse and dynamic destinations. Flight services between the two sideswere suspended during the pandemic in 2020,and remained shut consequently due to border skirmishes. InOctoberlastyear,thetwo sides firmed up a disengagement pact, after which a series of measures were undertaken to repair ties, including resumption of flights and the Kailash MansarovarYatra. AHEAD OF IPO ON NOV 11 PRESS TRUST OF INDIA Varanasi, November 8 FPI buying in financial shares at 6-month high 355 K O L K A T A , ● Economic growth linked with good infrastructure: PM With two International Booker Prizes in three years, India’s modern publishing practices begin to embrace more diversity in translation Metals & mining K O C H I , ■ After five-year gap, flights once again operating, at full capacity SUGANDHA MUKHERJEE New Delhi, November 8 1,030 H Y D E R A B A D , NEIGHBOUR CALLING ● China hot new destination ahead of holiday season Oil and gas READ TO LEAD It’s the year(end) of the dragon for travel sector WHAT'S INSIDE Financial services How Bihar’s democracy still speaks in the idiom of Maila Aanchal’s Maryganj Page 4 PTI andflightsarrivingfromcountries across the world,all these developments are now linked to growth.” Continued on Page 2 GLOBAL INVESTMENT FIRM Think Investments acquired a 0.41% stake in edtech unicorn PhysicsWallah for approximately `136 crore through a secondary share transaction completedonNovember4,days before the company’s `3,480crore IPO scheduled to open on November11. The $3-billion investment firm purchased 10.72 million shares from 14 PhysicsWallah employees at `127 apiece— 17% higher than the IPO’s upper price band of `109 per share,asperapublicannouncement filed bythe company. Thepremiumpricingsignals strong investor appetite for the Noida-based test preparation platform,which has set its IPO price band at `103-109.At the upper end, PhysicsWallah will INVESTOR APPETITE ■ Think Investments buys 10.72 mn shares at `127 apiece ■ This is 17% higher than IPO's upper price band of `109 per share ■ Think Investments’ Indian portfolio cos include Dream11, Swiggy, Spinny, etc command a valuation of `31,500crore(around$3.6billion),markinga30%jumpfrom its last funding round in September 2024 when it raised $210 million led by Hornbill Capital and Lightspeed. Continued on Page 2 ● SHOOTING STAR Ravinder Singh at the podium after winning gold in Men's 50m Pistol event at the ISSF World Championships in Cairo, Egypt, on Saturday, thanks to his brilliant shot of 569 points. Singh, along with Kamaljeet and Yogesh Kumar, also bagged the silver medal in the Men’s 50m Pistol Team event, with a combined total of 1,646 points THE WINTER session of Parliament will be held from December 1 to 19, Union Parliamentary Affairs Minister Kiren Rijiju said, in what the opposition has described as an "unusually delayed" session. ■ PAGE 2 Sebi caution on e-gold platforms THE SECURITIES and Exchange Board of India (Sebi) has issued a public statement cautioning investors against dealing in ‘digital gold’ or ‘e-gold’ products by unregulated online platforms. ■ PAGE 3 In sub-4m SUV arena, homegrown Tata outpaces Korean rivals STEADY LEAD FY21 ■ Nexon remains a Tata FY22 FY23 price accessibility. This leadership stretches beyond the current financial year.In FY25,Tata Motors sold 359,654 compact SUVs,ahead of the Hyundai-Kia total of FY24 FY25 137,740 163,012 312,316 359,654 281,580 214,749 341,773 Hyundai + Kia 305,957 176,846 178,955 Sales (in units) 156,689 TATA MOTORS HAS strengthened its lead in the sub-4 metre compact SUV space, with Nexon and Punch maintaining a consistent sales advantage overfourrival models from Hyundai and Kia.The first half-yearly data from the Society of Indian Automobile Manufacturers (Siam) shows how this dominance has now becomeasteadypatternrather than a temporary surge. In H1FY26, Tata Motors recorded combined sales of 163,012 units for Nexon and Punch. In comparison, the Hyundai-Kia group registered 137,740 units from fourmod- els in the same category. Hyundai’s Venue and Exter accounted for 82,945 units, while Kia contributed 54,795 units through Sonet and the newer Syros. Nexon remains a strong pillarinTata Motors’SUVlineup. It continues to be one of the highest-selling cars in the country and was the top-selling model in September with 22,573 units. Meanwhile, Punch has added further momentum to Tata Motors’ performance in the market. It was the largest selling car in 2024, with 202,031 units sold, highlighting the sustained demand for compact crossovers that offera blend of practicality, presence and 63,756 VIKRAM CHAUDHARY New Delhi, November 8 H1FY26 312,316 units.A similar trend was visible in FY24 (Tata’s 341,773 versus the Korean group’s 281,580) and in FY23 (305,957versus 214,749).The onlyrecent disruptions toTata Motors’ dominance were in FY22 and FY21, when Hyundai-Kia had higher volumes in this segment,particularly due to the Venue and Sonet’s earlystrength andTata strong pillar in Tata Motors’ SUV line-up; it was the top-selling model in September with 22,573 units ■ Punch has added further momentum to Tata Motors’ performance; it was the largest selling car in 2024, with 202,031 units sold Motors’ portfolio then being comparatively narrower. According to analysts, the introductionofPunchinOctober 2021 has been central to the shift. Its monthly average of around 14,400 units over the past three years reflects its sustained acceptance across regions and customerprofiles. It has also benefitted from riding alongside Nexon, which has been selling at about 14,200 units per month. For buyers seeking an SUVwith an upright stance, ground clearance and accessible pricing, these two models have offered a balanced value proposition. Industry analysts point to three factors that have shaped Tata Motors’ advantage. First, the focus on safety has played a clear role. Nexon was the country’s first 5-star Global NCAP-rated indigenous car, and the company has built a reputation around stronger safety credentials at a time when consumers are showing greater concern about structural integrity and crash performance. Second, the availability of multiple powertrain choices has broadened the addressable customer base. Nexon, sold in petrol, diesel, CNG and electric forms, offers one of thewidest ranges in any modellineinthecountry.ElectricversionsofbothNexonand Punch have also allowed Tata Motorstodevelopearlyleadership in the growing EVmarket. Hyundai and Kia have continuedtocompetewithfeaturerich offerings, but some products have seen mixed traction. Continued on Page 2 Kolkata