Did Dr. Sebi cool down the options fever?

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Friday, December 13, 2024. This is Nelson John, let's get started.

The buzz around Google's new quantum computing chip, Willow, is huge because it represents a significant step in quantum computing technology, which could potentially revolutionize several industries. Unlike traditional computers, which represent data as either a 0 or 1, quantum computers use qubits that can represent both at the same time. This allows quantum computers to process vast amounts of data much faster than the best supercomputers. However, adding more qubits usually introduces more errors, making the system less reliable. Willow is exciting because it reportedly reduces these errors even as it adds more qubits. Despite this breakthrough, we're not quite at the point where quantum computers are ready for everyday use. They are still very much in the experimental stage, primarily useful for specific types of computations like cryptography and complex modelling. Leslie D’Monte explains how Google’s new chip will affect computing in the age of AI. 

India's retail investors are seeing a significant shift in their options trading habits due to recent regulatory changes aimed at minimizing widespread losses. Following new rules by Sebi, which limit the number of weekly expiries to just two, trading volumes have seen a marked decrease, Ram Sahgal reports. The first week under this new regime saw a 30% drop in the number of index options traded—down from 3.04 billion to 2.14 billion contracts. Despite the drop in contracts, there was a slight increase in the total value of these trades, thanks to a surge in activity right before a major monetary policy announcement. This kind of spike isn't new; similar increases in trading volume have occurred during other significant market-moving events in the past. 

The quick commerce scene in India is getting a fresh twist with startups like Medino's, Medstown, and Plazza jumping into the fast medicine delivery game. They're delivering meds in 30 minutes, targeting smaller cities, and are up against big names like Flipkart and Swiggy. Taskar's CEO, Prasoon Pal told Samiksha Goyal and Sowmya Ramasubramanian that he launched Medino's to specialize in speedy deliveries, promising meds in 30 minutes or they're free. Aman Priyadarshi, after leaving Zomato, saw a gap in the market and started Plazza in Bengaluru for super quick deliveries, aiming to save customers the hassle of traditional pharmacy visits. Syed Hussaini of Medstown has fine-tuned their delivery process over two years and began speedy service in Hyderabad this September. As these companies look to expand—Medino’s to 22 cities and Medstown to 20—they're also on the hunt for funding to grow even bigger.

As India gears up for a broader 5G rollout, telecom operators are shifting their focus from the bustling metros to the burgeoning tier 2, 3, and 4 regions, as well as rural areas. Gulveen Aulakh writes about the data from Bernstein Societe Generale Group revealing that consumers in tier 2 cities are using about 35-40 GB of data per capita each month—approximately 15-20% more than those in metro areas. This usage spikes even higher during events like the Indian Premier League. In tier 2 cities such as Jodhpur, Ranchi, and Lucknow, 5G penetration is quickly catching up to that of tier 1 cities, with penetration rates of 35-40%. This burgeoning demand is prompting telecom companies like Bharti Airtel and Reliance Jio to expand their network infrastructure into these less urban areas. The focus on non-metro regions is not just about covering more geographic territory but also capitalizing on the rapid revenue growth seen in these areas.

After the public offer for ‘PropShare Platina’ opened on December 2, Bengaluru entrepreneur Sandeep Gupta was quick to show interest. Seeing real estate as a lucrative investment, he was drawn to the new scheme from Property Share, aiming to raise ₹353 crore to acquire and lease back office space in Bengaluru. This scheme, part of India’s first small and medium real estate investment trust (SM Reit), offers a more targeted investment in specific properties compared to traditional Reits. SM Reits, regulated by the Securities and Exchange Board of India (Sebi), have a lower threshold for property value and allow investments starting from ₹50 crore up to ₹500 crore. This makes them accessible to ventures like PropShare Platina, focusing on singular, income-yielding properties. These trusts are seen as a way to organize and boost investments in India's fragmented office market, which is rich with Reit-worthy spaces. Madhurima Nandy takes a detailed look.