Business Today 7 January 2024

If there was an award for the most number of pivots, twists and turns in strategy, e-commerce firm Snapdeal, founded by the duo of Kunal Bahl and Rohit Bansal, would qualify hands down. Starting out as a discount coupon venture back in 2007, Snapdeal then morphed into an e-commerce marketplace. It then went into a managed marketplace model and also attracted marquee investors, raising close to $1 billion in 2014. Mounting costs, a failed merger attempt and a shelved IPO later, Snapdeal is taking another shot at life, this time as a value commerce player. Investors and the e-commerce community are calling it Snapdeal’s ultimate pivot, in a sector known for pushing up players to dizzying heights only to be unforgiving in the manner in which they are brought crashing…

SOURCE MMRDA, PIB, MEDIA REPORTS 5 PER CENT The likely boost Maharashtra’s GSDP will get from this and associated projects; it is estimated to add 1 per cent to India’s GDP ₹ 17,843 CRORE Total amount (estimated) spent on the construction of the road bridge that will be used by over 70,000 vehicles every day 1 HOUR Likely reduction in travel time, apart from savings in fuel cost, that the bridge will enable for travellers between Mumbai and Navi Mumbai…

RISING AND SHINING DESPITE VOLATILITY IN THE MARKET, EQUITIES, GOLD AND SILVER HAVE DELIVERED LUCRATIVE RETURNS TO INVESTORS IN 2023 DATA TILL DECEMBER 11, 2023; FD RATE IS THE INDUSTRY AVERAGE FOR 2023 SOURCE CMIE, ACE EQUITY, INVESTING, MCX 44 PER CENT AVERAGE RETURNS OF PSU THEMATIC FUNDS IN THE EQUITY MF CATEGORY IN THE PAST ONE YEAR TILL DECEMBER 8, PER VALUERESEARCH.COM. AMONG DEBT FUNDS, CREDIT RISK FUNDS GAVE RETURNS OF 7.62 PER CENT, WHILE IN THE HYBRID CATEGORY, AGGRESSIVE FUNDS GAVE RETURNS OF 16.24 PER CENT 149 PER CENT SURGE IN BITCOIN IN 2023—FROM $16,537 ON DECEMBER 31, 2022 TO $41,256 ON DECEMBER 11, 2023, AS PER INVESTING.COM SMALL IS BEAUTIFUL SMALL-CAPS AND MID-CAPS SIGNIFICANTLY OUTDID LARGE-CAPS IN THE DOMESTIC EQUITY MARKET DATA HAS BEEN INDEXED TO 100…

Hitachi in India: A Testament to Resilient Partnership A resounding testament to resilient public-private partnerships, collaborative co-creation, and a thriving ecosystem that fosters ease of doing business can be witnessed in the presence of Hitachi in India. For over nine decades, Hitachi has stood as an unwavering partner in India’s journey towards progress. As India embarks on the next phase of its global transformation, characterized by sustainability, resilience, and inclusivity, Hitachi India has positioned itself to play a pivotal role. The commitment lies in aligning its Social Innovation Business and deploying an array of Digital and Green technologies, along with innovation capabilities, to support India’s pursuit of global leadership while enriching the lives of its citizens across multiple domains encompassing Energy, Mobility, Payments, e-Education, and e-HeaIthcare. In the grand tapestry…

▶ THERE COULD BE no starker reminder that the good times of 2021 have come to an end than edtech major Byju’s Founder Byju Raveendran pledging his assets, including an under-construction villa and family homes valued at around ₹100 crore. The beleaguered firm resorted to this decision to meet the salary obligations of a portion of its employees. Raveendran’s move indicates that he is anticipating a fresh infusion of funds and is taking this substantial risk to navigate the current cash crisis. It also demonstrates his commitment to his staff and is being seen as an attempt to lift their battered morale by assuring them that he’ll do whatever it takes to keep the business running. ₹100 crore THE ESTIMATED VALUE OF BYJU RAVEENDRAN’S PLEDGED PROPERTIES “It demonstrates a level…

▶ THE RESERVE BANK of India (RBI) has found that cooperative banks are regularly flouting norms related to ‘loans and advances to directors, their relatives, and firms/concerns in which they are interested’. While instances of such lending are not prevalent among commercial banks, with the entry of non-banking financial companies (NBFCs) backed by corporate giants, India’s banking regulator seems unsure if the current regulations are sufficient to prevent any future misadventure. Incidentally, the RBI has always pooh-poohed the idea of allowing corporates to run commercial banks, citing their poor track record in upholding governance standards. The regulator’s other big worry is the proliferation of fintech firms that are getting into co-lending tie-ups with banks and NBFCs. The entry of large corporates into the NBFC space, coupled with the growing fintech universe,…