Innholdsfortegnelse for 15 October 2023 i Business Today

The success of India’s ambitious Chandrayaan-3 mission to the moon—where the Vikram lander touched down near the lunar South Pole, making India the first country in the world to achieve this feat—has made the nation proud. The Chandrayaan mission’s success has also rubbed off positively on around 400 private sector firms that have, over the years, formed part of the vendor ecosystem for the Indian Space Research Organisation (Isro), the agency that forms the core of India’s space programmes. So much so, that legacy firms and start-ups are now busy readying plans for forays in the space sector across a range of activities. Large conglomerates like the House of Tata, Larsen & Toubro, the Godrej group and Walchandnagar Industries are in various stages of their forays in the space sector.…

MARKET MATRIX FIIs ARE THE LARGEST INSTITUTIONAL INVESTORS, ALTHOUGH PROMOTERS STILL CONTROL OVER HALF OF THE MARKET SHAREHOLDING PATTERN OF NSE-LISTED COMPANIES; DATA AS OF FY23 SOURCE NSE, HSBC 245 per cent THE RETURNS DELIVERED BY NIFTY IN THE PAST 10 YEARS UNTIL SEPTEMBER 15, BEATING MAJOR GLOBAL MARKETS SUCH AS CHINA’S SHANGHAI COMPOSITE (UP 39 PER CENT) AND THE UK’S FTSE 100 (UP 17 PER CENT) ₹6.40 lakh crore THE CUMULATIVE CONSOLIDATED PROFIT OF THE NIFTY50 COMPANIES IN FY23, UP NEARLY 190 PER CENT AGAINST ₹2.2 LAKH CRORE IN FY13 22.8 times THE PRICE-TO-EARNINGS RATIO OF THE NIFTY 50 INDEX ON SEPTEMBER 15, 2023, STILL LOWER THAN ITS HISTORICAL 10-YEAR AVERAGE OF 24.45 TIMES; THIS PROVIDES FURTHER HEADROOM FOR NEW HIGHS LOCAL SUPPORT DOMESTIC INVESTORS ARE NOW GIVING FOREIGN…

▶ More than 807,750 international students hold valid visas for studying in Canada; 319,130 of them are Indians. It is the second most popular place to study abroad for Indians after the US. But the recent events have left students worried. “I was hoping to get a job and settle down here, but I’m not sure it’ll be possible now,” says a 26-year-old pursuing his MBA in Quebec. Students planning to study in Canada are unsure as well. “We are stopping all new applications to Canada until there is more clarity,” says Akshay Chaturvedi, Founder and CEO of edtech Leverage Edu. Industry insiders stress that worsening diplomatic ties would be harmful for both the countries. “Although Indians study in Canada, a majority of them also work there and add value…

▶ INDIA IS THE world’s second-largest smartphone market after China. Apple is the second-largest smartphone maker after Samsung. Now the two are looking to build on these similarities, as an increasing number of Indians aspire to own ultra-premium smartphones amidst a slump in this category globally. India has emerged as a growth market for Apple at just the right time. And the launch of the iPhone 15 series could not have been timed any better, coming just ahead of the long festive season. This is set to boost Apple’s growing presence in the country. Consider this: From a mere 2 per cent market share in India in 2019, Apple increased its presence to 4 per cent by 2022. In the April-June quarter, the company managed record sales and its share…

Kalim real estate was established in 1971 by Late MD. Kalimuddin, whose humble journey started with job works for well-known builders of Kolkata. A God-fearing man, the hardworking Kalimuddin was a master of his craft and possessed a crazy streak of entrepreneurial adventure. Under his leadership, KGC went on to build 30-40 urban housing and standalone buildings in Kolkata. After his demise, in 2007, the mantle of the company was donned by his eldest son Mr. Firdous Kalim, aged 33, as the new CMD. He worked tirelessly to meet the high bench mark of quality and commitment set by his father and match the same standards that his family, friends, employees and industry people expected from him. His relentless evolvement were the baby steps that turned into leaps and bounds…

A review of the Indian Space Policy, 2023, to stay abreast with global developments Continued expansion of Isro’s collaborations with more institutes and research labs Tax reforms for supporting growth as well as making the end products globally competitive Introduction of production-linked incentive (PLI) scheme and customs exemptions A comprehensive study to fully tapping the sector’s downstream capabilities Becoming a leader in building satellites and pushing internet adoption Building capabilities in space mining, manufacturing and in-orbit servicing Early passage of the space law to keep local rules aligned with global frameworks SOURCE INDUSTRY, DELOITTE, ARTHUR D. LITTLE, BT RESEARCH…

FOUNDED 1969. Has its roots in the Indian National Committee for Space Research (INCOSPAR) POSITION World’s sixth-largest space agency STRENGTHS Built a strong position across the value chain of satellite communications, earth observation, satellite navigation, launch vehicles, and space and science exploration LAUNCHES 125 spacecraft missions and 92 launch missions FOREIGN LAUNCHES 431 satellites for 34 countries since 1999. In the past five years, the agency has earned $94 million from such launches NSIL Established in 2019 to market products and services as well as enable technology transfers from Isro SPACEPORT Satish Dhawan Space Centre (SDSC), Sriharikota (Andhra Pradesh) “India… is a country where if you like giving it [for] free, it’s very good. You will be building a huge business. But then… there needs to be a business model”…

WHEN HENRY FORD made cheap, reliable cars, people said, ‘Nah, what’s wrong with a horse?’ That was a huge bet he made, and it worked,” Elon Musk, the owner of Tesla, SpaceX, and X, recently said. Ford took a significant risk at the start of the 20th century, and it paid off. Uday Kotak (pictured), who coincidentally had a car financing joint venture with the US carmaker’s financial arm in his initial years, too took risks and successfully challenged established industry leaders to achieve significant success. In its nearly four-decade journey, the Kotak Group has amassed total assets of ₹6.2 lakh crore, market capitalisation of over ₹3.5 lakh crore and employee strength of nearly 100,000. Kotak’s family was into cotton trading, but he started his journey with a bill-discounting business.…

Gaining World Prominence Organ transplantation has come a long way after the first successful transplant carried out in 1954, which was also the first living donor kidney transplant, by the legendary Dr. Joseph Murray. Every year, August 13 is observed as World Organ Donation Day, but in 2023, the Indian Organ Donation Day, which was started in 2010, under the Ministry of Health & Family Welfare by the National Organ and Tissue Transplant Organization (NOTTO), was shifted to 3rd August. It was done so to coincide with the commemoration of the first successful cadaver heart transplant done in India on August 3rd, 1994. This year the theme of the World Organ Donation Day 2023 is “Step up to volunteer; need more organ donors to fill the lacunae” emphasising on the…

MURARI LAL JALAN OWNER, MJ DEVELOPERS ▶ The owner of Dubai-based MJ Developers, Jalan remains an enigma, with many in India Inc. only hearing of him after JKC’s resolution plan for Jet Airways’ revival was approved. He is said to have business interests in sectors such as paper trading, real estate, dairy, consumer durables, and mining, among others. Other than the Middle East, MJ Developers operates in the Commonwealth of Independent States (CIS), Brazil and India. Jalan’s niece is married into the family of South Africa’s Gupta brothers, who are currently on the run. Hailing from Ranchi in Jharkhand, Jalan is said to keep a low profile. FLORIAN FRITSCH PROMOTER, KALROCK CAPITAL PARTNERS ▶ Fritsch’s website describes him as a prominent investor, consultant and business angel who started his first…

DIGITAL LENDING Digital financing has made retail finance accessible. Fintech companies have thrived by offering online loans, often at higher interest rates, to customers with low credit scores or those new to credit BANKS SHIFT TOWARDS RETAIL LOANS Traditional banks have also shifted their focus from industrial loans to providing more retail loans. Retail loans now make up 30 per cent of bank credit, up from 19 per cent in 2015 RISING DEBT Many young individuals have fallen into the trap of overspending, which increases tension and anxiety, especially when they are unable to pay back their debt YOUTH-DRIVEN DEMAND Nearly 40 per cent of retail loan demand comes from customers aged between 18 and 30 years. Given that more than half of India’s population is under 30, this could…

(Registered entity: Imagine Marketing) ● YEAR FOUNDED: 2016 ● FUNDING/EQUITY RAISED TILL DATE: $175 million+ ● PRODUCT CATEGORIES: Earphones, headphones, TWS, speakers, smartwatches, personal care appliances, home audio, cables & accessories ● DISTRIBUTION: Online and offline ● KEY MARKETS: India ● GLOBAL MARKETS: Nepal ● SHARE OF MANUFACTURING IN INDIA: 60-70 per cent ● TEAM STRENGTH: 6,000 (direct and indirect employees) BOULT (Registered entity: Exotic Mile) ● YEAR FOUNDED: 2017 ● FUNDING/EQUITY RAISED TILL DATE: Self ● PRODUCT CATEGORIES: Audio and wearables ● DISTRIBUTION: Only online ● KEY MARKETS: India, US, UK and Europe ● GLOBAL MARKETS: US, UK and Europe ● SHARE OF MANUFACTURING IN INDIA: Over 80 per cent ● TEAM STRENGTH: 1,500 (Registered entity: Nexxbase Marketing) ● YEAR FOUNDED: 2014 ● FUNDING/EQUITY RAISED TILL DATE: Bootstrapped ● PRODUCT…

ELON MUSK IS AN ENIGMA. One would not be wrong to construe this as a clichéd sentence. But then, one way to understand a cliché is to see it as a truth that is tired of repeating itself. Walter Isaacson’s bombshell biography of Musk is precisely this: a deeply reported book that lays bare the facts of Musk’s life. But it is also a work haunted by questions. From the beginning, we are not shown a man we know today: the mercurial Co-founder of Tesla, or the man who, by a snap of his fingers, bought the microblogging behemoth Twitter and transformed it into X, and all that would come later. Instead, in the opening pages of Isaacson’s magnum opus, Musk is a frightened kid growing up in violence-ridden apartheid-torn…

▶ INDIAN START-UPS SEEM to have hit refresh. From focussing on profitability to taking more cognizance of compliance and corporate governance, a lot has been happening. However, this transition appears to have also sparked a churn among the top brass at some start-ups, as many executives have decided to put in their papers to either start their own businesses or join legacy firms. According to a report shared by Longhouse Consulting, Indian e-commerce start-up Meesho and edtech major Byju’s have seen the highest number of exits by far, followed by Bhavish Aggarwal-led Ola. Unicorn start-ups such as Unacademy and Swiggy, which claimed to have hit the profitability benchmark this year, also witnessed some senior-level exits. Dale Vaz, former Chief Technology Officer, left Swiggy to launch his wealth tech start-up, Aaritya.…

▶ THE HIGHLY-ANTICIPATED LAUNCH of Bima Sugam—a digital insurance platform that seeks to integrate all services like health, general, and life in one place—has been delayed for the second time. Initially slated for January 2023, the Insurance Regulatory and Development Authority of India (Irdai) pushed the launch date to August and now to June 2024. The industry is eagerly awaiting this platform, which aims to simplify insurance processes and bring a smooth transactional experience to users. So, though there have been delays, the focus remains on creating a robust and secure platform that meets consumer expectations. Naval Goel, Founder and CEO of insurance comparison portal PolicyX.com, says, “Irdai Chairman Debasish Panda has rescheduled its launch date. According to him, the platform is still going through some last-minute [amendments], such as…

August 23, 2023, India: There was no cricket match involving the Indian team that day. No new southern blockbuster had been released in theatres, nor was there a lockdown or curfew. Yet an hour before India’s mission to the moon, Chandrayaan-3, was to land on the lunar surface, people across the country either sat quietly glued to television screens or watched the event unfold on their smartphones. It broke all records on YouTube with 8 million concurrent views on the Indian Space Research Organisation’s (Isro) channel. The Vikram lander successfully touched down near the moon’s South Pole at 18:03 IST, and the nation erupted in joy. Not only had India become the fourth in the world to make a soft landing on the lunar surface, it also became the first…

1985 Starts his entrepreneurial journey with bill discounting 1990 Forays into auto financing 1991 Enters the lucrative investment banking business 1992 Kotak Mahindra Finance taps IPO market 1998 Begins the mutual funds journey 2000 Gets into the life insurance business 2001 Starts securities business 2003 Gets RBI licence to start banking operations 2008 Enters the ARC business 2014 Merger of ING Vysya with the bank; also forays into general insurance 2017 The bank acquires BSS Microfinance 2020 Launches first digital offering, digital video KYC 2022 Starts Kotak Cherry, a BFSI start-up venture…

NUMBER OF AIRCRAFT* 123 NUMBER OF EMPLOYEES* 16,000+ 1992 Incorporated as a company HEADQUARTERS: Mumbai FOUNDER: Naresh Goyal 1993 In May, begins operations as an air taxi operator 1995 Launches operations as a scheduled domestic carrier 2004 Starts international operations—flying from Chennai to Colombo 2007 Acquires Air Sahara for $340 million 2019 Ceases operations on April 17 NOTE THE AIRLINE REBRANDED ‘AIR SAHARA’ AS JETLITE IN THE SAME YEAR; *DATA AS OF APRIL 17, 2019; SOURCE INDUSTRY, BT RESEARCH…

HIS STORY Mehra lost his job in 2020, during Covid-19. He quickly found a new job, but it came with a 50 per cent pay cut. The salary was insufficient to cover his mounting credit card debt. Mehra had already amassed a debt of ₹3.95 lakh; his debts mounted after he lost his job during the pandemic HOW HE GOT DEBT-FREE He got in touch with debt relief platform FREED which settled his bill at a 45 per cent discount with the credit card company. He became debt-free in just four months following counselling from the company…

Having started with limited funding, most home-grown brands initially imported products from China Indian brands like boAt and Noise quickly gained market share over their unbranded and Chinese counterparts by offering affordable, customised products as per the Indian audience’s preferences Their success was backed by robust products priced as low as ₹1,000 and going up to ₹3,500 In line with the government’s push to ‘Make in India’, 70 per cent of the manufacturing has shifted to India As growth slows, these brands are expanding into new product categories or focussing on exports…

What was the problem you were grappling with? After a gap of 13 years, I returned to running Modicare in 2015. My biggest challenge was to recreate Modicare—a functioning organisation—without upsetting the balance. My belief in changing the world with my philosophy of ‘Soch Badlo, Khudko Badlo, Duniya Badlo, (Change your thinking, change yourself, change the world)’ made me take the risk of rebuilding Modicare. Whom did you approach for advice? I reached out to my family and close friends, who provided me with the direction and clarity I needed. What was the advice you received? They told me, “Do what your heart tells you to do, not what others tell you. Believe in yourself, your instincts and your vision. Trust your gut, things may or may not work out,…

SOURCE: REDSEER, MEDIA REPORTS 40 PER CENT Contribution of the festive season to the annual sales of companies in sectors like apparel, white goods, electronics and packaged goods 20-25 PER CENT Expected year-on-year rise in India Inc.’s ad and consumer promotion spending in H2 2023 due to festivals ₹ 90,000 CRORE Likely gross merchandise value of the e-commerce sector during the festive season this year compared to ₹76,000 crore in 2022…

▶ TRADE TALKS BETWEEN India and Canada are expected to remain stuck for the foreseeable future amidst rising diplomatic tensions between the two countries over the Khalistan issue. But, ongoing investments and trade between the two countries may remain unaffected. “It seems unlikely that the trade talks will resume anytime soon. It will be taken up only when both sides are more at ease,” says a source. Tensions between the two countries escalated after Canadian Prime Minister Justin Trudeau announced that there were “credible allegations” of the Indian government being behind the killing of Canadian citizen Hardeep Singh Nijjar, who was the Khalistan Tiger Force (KTF) chief and a designated terrorist in India. While India has strongly denied the allegation, a full-blown diplomatic war has flared up between the two nations.…

▸ Large private firms are looking at working on the Gaganyaan mission ▸ Start-ups are planning to get involved in diverse activities like mapping and satellite launch From the Big Boys… COMPANY FUTURE PLANS L&T JV with Hindustan Aeronautics Ltd for 5 PSLV launch vehicles for Isro; supplying flight-rated hardware for the upcoming Gaganyaan mission Tata Consulting Engineers Exploring opportunities in the Gaganyaan mission and with National Centre for Radio Astrophysics (NCRA) for radio astronomical projects Godrej Aerospace Looking at providing critical components for semi-cryogenic engines, reusable launch vehicles and two-stage-to-orbit rocket launch vehicles Alpha Design Technologies Establishing an Assembly Integration and Testing (AIT) facility for building small satellites in the 30-150 kg range Walchandnagar Industries Venturing into advanced composite business with a long-term vision to offer customised composite solutions to cater to specific needs…

AFTER ALMOST TWO decades of building large businesses at Seattle-based Amazon, Bhavnish Lathia was longing for fresh challenges. A year at a start-up didn’t turn out as he had thought. Last August, he packed his bags for India and headed to Kotak Mahindra Bank’s (KMB) headquarters in Mumbai’s BKC. Elsewhere in the US, Milind Nagnur had been hopping from one global bank to another—from JP Morgan, Citibank, to Wells Fargo for more than two decades. The desire to innovate and disrupt the traditional ways of banking led him to fintech firm Early Warning Services, which pioneered real-time payments services in the US, akin to India’s National Payments Corporation of India. After witnessing India’s tech prowess via the India Stack, he decided to return home; KMB was a perfect fit. While…

ORGAN TRANSPLANTATION HAS REVOLUTIONISED MODERN MEDICINE, GIVING COUNTLESS INDIVIDUALS A SECOND CHANCE AT LIFE. THE TRANSPLANTATION OF ORGANS SUCH AS THE HEART, LIVER, KIDNEY, AND LUNGS HAS BECOME COMMONPLACE, SAVING THOUSANDS OF LIVES EACH YEAR. THIS YEAR 2023, THE INDIAN ORGAN DONATION DAY RESOLUTION IS "DONATE ORGANS, SAVE LI VES". THE UNION HEALTH MINISTRY RECENTLY MODIFIED NATIONAL ORGAN TRANSPLANTATION GUIDELINES TO ALLOW EVEN THOSE ABOVE 65 YEARS OF AGE TO REGISTER TO RECEIVE AN ORGAN FOR TRANSPLANTATION FROM DECEASED DONORS. IN THIS ISSUE WE PRESENT A FEATURE ON LEADING HOSPITALS PAVING THE PATH FOR REVOLUTIONIZING ORGAN TRANSPLANT IN INDIA.…

Gleneagles Health City is a multi-speciality tertiary care hospital located in Chennai, India. It is one of the leading healthcare facilities in the country, renowned for its state-of-the-art medical technology and expert team of medical professionals. With its commitment to providing exceptional patient care, Gleneagles Health City has established itself as a top choice for individuals seeking medical treatment in India. One of the key areas of expertise at the hospital is multi-organ transplant surgery. With a dedicated team of specialists and advanced medical facilities, Gleneagles Health City is equipped to provide patients with the highest level of care and support throughout their transplant journey. Whether it be a heart, lung, liver, kidney, pancreas, hand, uterine, BMT or small intestine transplant, the hospital offers a comprehensive approach to transplant surgery,…

Dr. Swaminathan Sambandam, Senior Consultant & Lead, Multi-Organ Transplant (Liver, Kidney, Pancreas & Small Intestine), Kauvery Hospitals, Tamil Nadu assures that organ transplantation is carried out as per the guidelines of the apex regulatory body National Organ and Tissue Transplant Organization (NOTTO). He was the first to perform Robotic Kidney Transplantation in Tamil Nadu, besides achieving numerous other milestones. What is organ failure? Any organ can begin to fail in performing its expected function. Such failure can deteriorate to such a degree that normal life cannot be sustained without external clinical intervention or life support. For example, the liver performs hundreds of functions necessary to support life, including filtering toxins out of the blood. Kidney balances fluid and electrolytes in the body and remove wastes from the blood into the…

1 Wipro Consumer was hived off from Wipro Ltd in 2013 as a part of the demerger of its non-IT businesses 2 From revenues of ₹300 crore in FY03, it has crossed ₹10,000 crore in FY23, a growth of over 30x 3 Its flagship brand Santoor alone clocked revenues of ₹2,650 crore in FY23; it is the second-largest in the segment after HUL’s Lifebuoy 4 To date, Wipro Consumer has made 14 buyouts; its revenue is split evenly between India and overseas markets 5 The next step is to crack the foods market, both in spices and snacks. It will acquire brands for spices and focus on south India for snacks…

JUNE 2019 CoC appoints Grant Thornton’s Ashish Chhawchharia as Insolvency Resolution Professional OCTOBER 2020 CoC approves the resolution plan jointly submitted by businessmen Murari Lal Jalan and Florian Fritsch LATE 2022 Planned re-launch FLEET SIZE Nil (Current) PROPOSED FLEET SIZE Plans to launch with six aircraft, and progressively increase it to 120 in five years BUSINESS MODEL Full-service carrier OBTAINS AOC May 2022 May 2023* LOSS OF IATA CODE September 2023 AOC: Air operator’s certificate; *DGCA had extended the carrier’s AOC till September 9 subject to it meeting certain conditions. Now, Jet needs to apply for re-certification Source Industry, DGCA…

REMEMBER THE TIME, more than a decade ago, when smartphones started entering the mass market in India? Around the same time, another category of devices had started gaining traction—the humble earphones. Riding on the easy accessibility to multimedia content through smartphones, most new smartphone owners used to be on the hunt for a trusty pair of earphones or headphones. But all they used to get were either expensive products from companies like Sony, Philips, Bose, etc., or cheap Chinese knock-offs. Despite that, there was a boom in the personal audio device market in India. But back then, these products were not designed for millennial or GenZ customers. To compound matters, most of them were expensive, while the Chinese products were usually of poor quality, lacked a comprehensive warranty, or didn’t…

BOOMING PRESENCE If you’re the kind of fan who, while sitting among your friends and family watching the game, likes to cry hoarse every time there is a tense situation in the match, plug in the JBL Partybox 310 with its 240W sound output so that your fellow viewers do not miss anything while you have a go at the players and umpires on the screen. Connecting over Bluetooth, the loud sound from this portable speaker will perfectly carry the sound of every knock and nick between the two wickets. And with its 18-hour battery backup, the momentum of the match can carry till the last ball. Available on: in.jbl.com LISTENING CANS There’s only so much thrill you can glean when you’re watching a match at work. But you can definitely…