Innholdsfortegnelse for 11-Jul-21 i Business Today

Solar photovoltaic manufacturing at Mundra; road and rail construction; defence and aerospace; edible oil and foods production (850 plants); airports (holds 23.5 per cent stake in Mumbai airport, awarded the rights to modernise and operate six others — Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram) Adani Green Energy Solar power: 3,023 MW in operation; 8,150 MW under construction Wind power: 497 MW in operation; 1,430 MW under construction Hybrid power: 2,290 MW under construction Adani Ports & SEZ Operates six major ports (Mundra, Dahej, Kattupalli, Krishnapatnam, Hazira and Dhamra) and four terminals Adani Power 12,400 MW Of coal-fired capacity in operation; plans to add another 7,000 MW Adani Total Gas Operates city gas distribution networks in Ahmedabad and Vadodara (Gujarat), Faridabad (Haryana) and Khurja (UP); A consortium of Adani Total Gas and IOC…

Bharatiya Janata Party (BJP)-ruled Uttar Pradesh goes to polls in March next year. State Finance Minister Suresh Khanna says during a select media interaction virtually they are not facing any shortage of funds in the year disrupted by the second wave of the contagion. On pending GST compensation for FY21 Uttar Pradesh does not have any pendency whatsoever. We have received ₹7,229 crore as GST compensation and ₹6,009 crore as part of the debt raised to meet the deficit. With that, no amount is pending on account of GST to Uttar Pradesh from the Centre. On extension of compensation period, other GST issues We will go by the decision taken by the council on all issues related to GST. On revenue augmentation amid Covid The state hasn’t increased VAT to…

The work from home model has increased the need for bigger homes Property prices have corrected 5-20 per cent across most markets Home Affordability Index is at its best ever in eight major metros Mortgage rates are currently at a 15-year low Sale of housing units grew 68 per cent quarter-on-quarter to 58,914 units in Q4 2020 Affordable segment driving demand — 46 per cent of units launched in 2020 priced below ₹45 lakh Stamp duty reduced in Maharashtra and Karnataka, leading to lower transaction cost; circle rates on the decline as well…

What was the problem you were grappling with? I took up a role in the automation division of an organisation, which was responsible for the process automation business (PAB). There were other established players in the sector and the PAB’s growth was a problem. Since the business’s margins were negative, it was managed by another team, the projects division, as well. Both had very strong leaders. Though they professed a need to collaborate, they fought tooth and nail. Slowly, a sense of confusion started eating into the organisation. Who did you approach and why? I approached everyone and no one. While crisis coaches and mentors are necessary, sometimes it is important to assess the ground reality ourselves and steer oneself towards those solutions. What was the best advice you ever…

↘ Fund raising by non-banking enterprises in India through five sources — equity, debentures, bank credit, ECBs and FDI — rose 5.8 per cent from ₹20.7 lakh crore in FY20 to ₹21.9 lakh crore in FY21 ↘ The enterprises mobilised ₹10.3 lakh crore through primary markets – equity and debt — 30 per cent more than ₹7.9 lakh crore in FY20 ↘ Debt issuances rose 32.3 per cent to ₹8.6 lakh crore while equity rose 21.4 per cent to ₹1.7 lakh crore (Figures in ₹lakh crore) Source: CMIE…

India’s largest bank, State Bank of India (SBI), pulled out YONO — an acronym for ‘You Only Need One’ — app out of its hat five years ago. No one had expected the state-owned bank to take a lead in rolling out a super app for banking, investments and e-commerce. However, in just three years, YONO has notched up impressive numbers — 3.70 crore registrations, ₹21,000 crore-plus loans, 77,671-plus daily cardless transactions and leads for ₹10,000 crore home and car loans. The claimed valuation of ₹2.94-3.67 lakh crore is more than SBI’s ₹3.25 lakh crore market cap. Though there has been no formal valuation, the number has been derived on the basis of lending book, banking transactions, profitability and potential. Many fintechs are valued at billion dollars-plus despite their much…

Hiren Gada, CEO of homegrown media company Shemaroo Entertainment, is an avid marathoner. His yoga session every morning is sacrosanct, and he never misses an opportunity to go trekking. A huge R.D Burman fan, Gada’s favourite way of unwinding after a hard day’s work is by singing classics such as Phir Wahi Raat Hai and Do Lavzon Ki Hai Dil Ki Kahani. He is also the founder of Pancham Pagaal, a 100-member R.D. Burman fan club, which has fans of the maestro from across the globe. Members would meet at least once a month for jam sessions pre-Covid. Now, the sessions are mostly virtual. Music, says Gada, has taught him teamwork. “A singer is accompanied by a host of instrumentalists and every instrumentalist plays an important role in making the…

340 NUMBER OF CRYPTO START-UPS IN INDIA $400-500 million DAILY CRYPTO TRADING VOLUME IN INDIA ₹25.47 lakh PRICE OF 1 BITCOIN AS ON JUNE 21, 2021 On May 22, 2010, Laszlo Hanyecz, a Florida-based programmer, made the world’s first commercial transaction using bitcoins. He bought two pizzas for 10,000 bitcoins. At today’s prices, that’s $357 million, making it the world’s most expensive food order ever. A month ago, when bitcoin was at its peak, the two pizzas would have been valued at $600 million. Cryptocurrency enthusiasts celebrate May 22 as the Bitcoin Pizza Day. Despite their enormous appeal and growing demand, cryptocurrencies such as bitcoin are fighting for legitimacy globally. But nations detest them. Government of India is, in fact, looking at criminalising possession, mining, trading, transfer and issue of…

In June 2020, the board of Adani Power decided to delist the company whose share price was languishing at ₹38 against its August 2009 listing price of ₹100. The low price was affecting fundraising and growth plans. The board set the floor price for delisting at ₹33.82 and has been waiting for approval from stock exchanges. However, over the last seven months — December 2020 to June 2021 — the company’s share price surged around 300 per cent, pushing the scrip to ₹166. Shares of five other Adani group companies grew three to 10 times in the last one year until June 11, 2021. Market value of Adani Green Energy (AGEL) increased to ₹1.9 lakh crore (as on May 31, 2021). Barring Adani Power (₹57,000 crore), each of the other…

6.3% Retail inflation in May 2021. It was 4.23 per cent in April Thirty-five-year-old Kajal Roy has over the past few months been paying almost 50 per cent more for a five-litre can of edible oil. “It’s become extremely expensive. I checked out other brands but they are as expensive. One can’t run the kitchen without edible oil,” the home-maker says, while pushing her shopping cart through a neighbourhood supermarket in Mumbai. “My grocery bill has gone up substantially, but all of us are home-bound because of the lockdown, so we are hardly spending on anything else. Therefore, I am not complaining.” In Nagpur, kirana store owner Rajesh Reddy has seen 70 per cent lower revenues for the past three months. He is not sure if the second wave of…

In 2015, K.N. Balagopal, then a Rajya Sabha member, had submitted a dissent note, flagging concerns over fiscal federalism, against the GST Bill as a member of the Select Committee. Six years on, as Kerala Finance Minister, he feels his fears were not misplaced. In an interaction with Joe C. Mathew, he calls for an overhaul of the GST system On need to review the role of GST Implementation Committee It is not only the structure of the GST Council that needs to be reviewed. It is time to discuss the impact of the GST system on economy of the country and revenues of states. Iwasamongthefew who had issued a dissent note on risks associated with Centre having an absolute say in decision-making and states losing their financial independence. Several…

The pandemic has changed people’s perception of home ownership significantly. Those who already own a house are looking to buy a bigger one, with work from home (WFH) set to become the new norm. But, with the second wave of Covid-19 hitting the country hard, is it the right time to invest in a new house? Also, should you go for a property under-construction or look for a ready to move in one? Or, should you invest in real estate only for returns? A lowdown. Back In Demand With phased opening up, pent-up demand, the festive season of the previous quarter and the on-going vaccination drive, economic recovery is gaining momentum. It has pushed the real estate adoption significantly higher as well. According to experts, demand went back to almost pre-Covid…

Aravind Sanka, Co-founder, Rapido, an online bike taxi aggregator, started playing football with colleagues to break the monotony. Slowly, it became a compulsory part of his break and fun time. Before the pandemic, Sanka used to play twice a week with colleagues and friends. “I started playing football three years ago. The whole idea was to increase more face time with the team.” He ended up playing on any local turf or on any ground that the team booked. “Football has helped in building team spirit and camaraderie. Apart from getting to know the team well, it helps me stay fit.” He doesn’t have a favourite team though. Also, football isn’t his only love. He likes playing cricket and volleyball as well.…

Guiding people to be a better version of themselves. That’s what R.M. Vishakha, Managing Director and CEO, IndiaFirst Life Insurance, loves doing as a hobby. On weekends, when most people engage in light activities, she conducts one-on-one sessions with people, and grooms them to be better professionals, all of it pro-bono. “I have always enjoyed explaining things to people. Had I not been a CEO, I would have been a professor. These coaching sessions help me interact with people and know them better.” Vishakha completed a certification in executive coaching during the lockdown and started conducting sessions for others. “Interacting with people is invigorating. It amazes me how a similar theory or example is absorbed differently by different people.” People always look for an anchor to understand new concepts, she…