Business Today 12-Dec-21

When Prime Minister Narendra Modi presented his five-point agenda—which he called Panchamrit—at the COP26 summit in Glasgow in early November, it was a turning point in India’s climate change agenda. As part of the commitments, Modi announced that India would take its non-fossil energy capacity to 500 GW by 2030, and by that year India would also meet 50 per cent of its energy requirements from renewable energy. India’s commitment to increasing its non-fossil energy capacity ties in perfectly with the ambitions of the country’s two richest men—Reliance Industries Chairman Mukesh Ambani and Adani Group Chairman Gautam Adani—both of whom are now putting in place mega plans in the renewables space. Together, their investments will eventually total $30 billion, or over ₹2.2 lakh crore, indicating the kind of big money…

FLYING AGAIN AIRPORTS AND FLIGHTS ARE HUMMING AS PASSENGERS RETURN TO THE SKIES WITH GUSTO 15.4 MILLION Total passenger traffic in September 2021, a YoY rise of 82.7% 63.7 MILLION 22 August 2021 Total passenger traffic in the April-September period 161.9 PER CENT The YoY rise in cumulative passenger traffic in the April-September period of 2021…

353.2 MILLION The Indian OTT audience universe till August 2021, translating into a penetration of 25.3% 96 MILLION Active paid OTT subscriptions in India across 40.07 million paying members STEADY RISE IN SHARE OF ADVERTISING REVENUE FOR DIGITAL AND OTT *Based on primary consumer research; may vary by up to 10% from actual numbers; P: projected; Source: Bain & Co., Statista, RBSA Advisors, Ormax Media, KPMG M&E report…

WHAT’S GOOD for Elon Musk is not necessarily good for investors in Tesla stock. Or, is it? Munch this: the stock jumped 148 per cent from $408.09 on November 16, 2020 to $1,013.39 on November 15, 2021, on the NASDAQ. This jump masks a nuance: $1,013.39 was a 17 per cent slide since November 5. On November 7 (Sunday), Musk’s legion of Twitter followers responded to his ‘poll’ on whether he should sell 10 per cent of his Tesla holdings. The answer was a resounding yes (58 per cent), Musk promptly sold his stock the next day, and the stock promptly tanked. (The stock has since recovered to $1,096 on November 18.) The poll is a novel addition to Musk’s tweets on cryptocurrencies, whose values go up and down like…

“The one who will define the fortunes of the country,” said a teary-eyed Vijay Shekhar Sharma while explaining the phrase Bharat Bhagya Vidhata to his foreign shareholders. And immediately thereafter, he said: “Everyone at Paytm has actually done that,” while speaking ahead of the listing of Paytm shares on November 18. The shares listed and the outcome was underwhelming—in the first two days after listing, shares of Paytm lost nearly 37 per cent in value, then recovered 9.9 per cent to ₹1,494.95 on November 23—the issue price was ₹2,150. For Sharma, this might be a puny dent in his net worth as his Paytm shares were still worth around ₹8,622 crore on November 23. While it may be too early to judge Sharma or Paytm, there is no doubt that…

THAT’S THE market capitalisation (₹1 lakh crore) of Nykaa upon listing. That has made 58-year-old ex-banker Falguni Nayar India’s richest self-made female billionaire, and her family trust offices now have a collective worth of about ₹54,831 crore. There’s more. The most pleasant ‘anomaly’ is that the online beauty platform Nayar founded in 2012 is the first profitable Indian start-up unicorn to hit the public market. The ₹5,352-crore initial public offering was subscribed 82.4 times. Incidentally, popular actress Katrina Kaif, an investor in Nykaa, was happy to have Nayar hog the limelight on L-day, no mean feat. Now with the onerous tasks of launching the company at the public market and raising funds behind her, Nayar begins the next phase of her journey—running a public company that has to lay itself…