Innholdsfortegnelse for 14 April 2024 i Business Today

THE 2024 EDITION of the Indian Premier League (IPL) is the last time two media giants—Disney-owned Star India and Reliance Industries’ (RIL) Viacom18—are fighting it out as rivals for a share of the advertising pie. After the announcement of the $8.5-billion deal in February, RIL’s media business and The Walt Disney Company will merge their India operations, with the former holding majority control. Cricket is India’s biggest sport, and media rights for IPL are among the most expensive globally. In 2022, they went for over ₹48,000 crore for a five-year period, seeing an increase of 2.6x over the previous auction. Star has won the rights for television, while the digital segment was clinched by Viacom18. According to Balu Nayar, former MD of global sports and entertainment company IMG and a…

IT IS WELL AFTER 9 PM, and Mohit Joshi has had a long day. His company, Tech Mahindra, has just declared its quarterly numbers, and he has a flight to Singapore the next day. Based in London, Joshi is described by his employer as a “road warrior” and has a hectic travel schedule worldwide. As he settles into a hotel meeting room near Mumbai’s international airport for a working dinner, Joshi, the company’s CEO & MD, is chatty. He fields questions on challenges for the $6.5-billion Tech Mahindra, an IT services and solutions company that has been around for over three decades, and his optimism about artificial intelligence (AI). He is acutely aware of the advantage of being part of a conglomerate and will use that strategically. At the same…

AS EVENING TURNS into night, Gurugram’s skyline lights up outside Dr Ashutosh Raghuvanshi’s window at Fortis Healthcare’s corporate office. Raghuvanshi exudes the quiet confidence of the seasoned cardiac surgeon that he is, but his scalpel of choice today is not surgical steel. As MD and CEO of Fortis Healthcare, Raghuvanshi’s strategic vision is at work, pulling the once-ailing healthcare giant back from the brink of insolvency. Just five years ago, Fortis Healthcare was headed for the operation theatre with a clutch of issues—operational ones and legacy issues left by its former owners that led to legal battles. IHH, the Malaysian healthcare major now in control of Fortis, had a troubled entry. But despite a shaky start in 2018-19, with IHH taking over on November 13, 2018, and then giving the…

1 GOLD SHINES IN 2024: Potential interest rate cuts and global uncertainties favour gold. It is expected to outperform stocks, bonds, and real estate 2 PRICE DRIVERS: The US Fed’s decisions on interest rates, inflation trends, global conflicts, and dollar movement 3 LONG-TERM PLAY: While gold provides security and steady returns, it should be included strategically in a diversified portfolio for the long term 4 BALANCED PORTFOLIO: Exposure to gold, however, must be restricted to 10-15% to maximise returns 5 INVEST SMART: Sovereign Gold Bonds earn interest and provide tax benefits if held till maturity, while gold ETFs are lower cost options for shorter-term holding…

Future Peek Over the years, we have had transparent keyboards, TVs, and even phones. But nothing quite prepares you for a transparent display on a laptop. Lenovo’s latest concept sports a 17.3-inch MicroLED transparent screen with 1,000 nits of brightness and a transparent keyboard area. The transparent display helps integrate Artificial Intelligence Generated Content, that allows users to interact with physical objects while overlaying digital information. What’s more, the transparency of the display can facilitate transitions between the keyboard and the drawing board, with a dedicated pen. WELLNESS METER The concept of a smart ring is not new, but Samsung is venturing into this space for the first time with this health-focussed wearable. The Galaxy Ring will simplify keeping a check on your daily wellness, especially when used in conjunction…

AFTER MONTHS OF speculation, Chinese auto giant SAIC Motor and JSW Group formalised their joint venture (JV) agreement to create a new avatar for passenger car maker MG Motor India. The JV entity—JSW MG Motor India Pvt. Ltd—with its majority stake now held by Indian entities and individuals, is expected to impart growth momentum for MG Motor in India. While the deal brings fresh investments, for Sajjan Jindal-led JSW it could well prove to be a perfect path to enter the consumer business while boosting sales of its steel, paints, and mining businesses. MG Motor India was a local subsidiary of SAIC Motor. JSW Group will now own 35% in JSW MG Motor India, while 8% stake is with Indian financial institutions, 3% is held by the company’s dealers, and…

UNDER ITS NEW BOSS Mohit Joshi, IT services and solutions company Tech Mahindra is ambitious and wants to grab every opportunity that comes its way. Joshi, who has a bachelor’s in history from St. Stephen’s College, Delhi, and an MBA from Faculty of Management Studies, Delhi University, joined Tech Mahindra in June 2023 as MD and took on the CEO’s role in December. The CEO & MD, who started his career as a banker with ANZ and ABN Amro, spent more than two decades at Infosys, before joining Tech Mahindra. In an exclusive interview with Business Today, the 50-year-old speaks on a host of issues, including what he will do to drive growth, what makes his company unique, and what he makes of AI. Edited excerpts: What was your mandate when you…

WHEN TATA REALTY & INFRASTRUCTURE LTD (TRIL) was established in 2007, its primary focus was on commercial real estate. As a 100% subsidiary of Tata Sons, TRIL has undergone a remarkable evolution, emerging as the comprehensive real estate arm of the salt-to-software conglomerate, spanning both commercial and residential markets. Moreover, it has seized opportunities in the burgeoning infrastructure sector across the country. With the disruptive impact of the Covid-19 pandemic waning, the company is gearing up for rapid expansion, aiming to capture the top spots in five to six key Indian markets, drawing upon its expertise garnered from international ventures, and spearheading significant infrastructure projects. According to Sanjay Dutt, Managing Director & Chief Executive Officer of TRIL, it was while the company was trying to shake off the effects of…

Vegetarians rejoice. There’s a new kid on the block to take care of most of your protein requirements, and what’s more, there’s nothing fake about it! Tempeh, traditional to Indonesians and a part of their diet for centuries, has caught the imagination of people globally over the past few years as a meat substitute and is now making inroads into Indian kitchens as well. The tempeh craze is riding on the plant-based protein wave all over the world. The global tempeh market, valued at $3.8 billion in 2022, is expected to reach $6.3 billion by 2032, expanding at a CAGR of 5.3%, according to DataHorizzon Research, a market research and consulting firm. So, what exactly is tempeh, and why is it becoming popular? Tempeh is basically fermented soya bean, where…

IT MAY SEEM difficult to think about the long term at a time when disruptions appear to be the norm. First there was the pandemic that brought business to a screeching halt, and then the impact of two wars that hit supply chains and pushed prices up. But it is precisely the ability to look beyond such vagaries of the present and put the organisation on a long-term growth path that distinguishes the best leaders. These were the leaders who were felicitated at the BT-PwC India’s Best CEOs awards on March 9 in Mumbai. The annual event, known for discussions on emerging trends and challenges in the business landscape, witnessed the captains of India Inc. coming together to share insights and experiences. Among those who attended were dignitaries like Union…

50,000 THE LEVEL THE NIFTY 50 MAY HIT BY 2031, ACCORDING TO RAAMDEO AGRAWAL, CHAIRMAN & CO-FOUNDER OF MOTILAL OSWAL FINANCIAL SERVICES. THE INDEX HAD SCALED TO ITS ALL-TIME HIGH OF 22,526.60 ON MARCH 11, 2024 ₹68,000 PER 10 GM THE PRICE OF GOLD BY THE END OF 2024, PER RAVINDRA RAO, HEAD OF COMMODITY RESEARCH AT KOTAK SECURITIES 6.8% (AVERAGE) RETURNS ON THREE- AND FIVE-YEAR FIXED DEPOSITS (FDs) THAT WILL BE DELIVERED BY BANKS IN FY24 COMPARED TO 6.6% IN FY23, ACCORDING TO BANKBAZAAR BROADER MARKETS LEAD IN THE DOMESTIC EQUITY MARKETS, THE BSE MIDCAP, THE BSE SMALLCAP, AND THE BSE SENSEX GAINED UP TO 56% IN FY24 DATA AS OF MARCH 13, 2024; DATA HAS BEEN INDEXED TO 100 SOURCE ACE EQUITY REALTY, POWER SHINE REAL ESTATE AND…

THE BSE AND the National Stock Exchange (NSE)—two stock exchanges of the country—launched their respective dedicated segments for listing small and medium enterprises, or SMEs, in 2012. Now, 12 years later, the segment—that has much more lenient listing and disclosure norms compared to the main exchange or the main board—has seen nearly 950 SMEs get listed, with the cumulative fundraising pegged at nearly ₹14,700 crore. The vibrancy of the segment can be gauged from the fact that 2023 was a record year both in terms of the number of initial public offers (IPOs)—182—and the amount raised—a whopping ₹4,686.11 crore, as per data from Prime Database. While the platform does provide the much-needed launchpad for the vast SME community of the country, it has also attracted the attention of the capital…

HINDUSTAN UNILEVER LIMITED’S (HUL) tryst with the ice cream industry began in the early 1990s. In 1993, it bought the brand Dollops from then Cadbury India. That was soon followed by the acquisition of Kwality Wall’s from the Lamba family. Apart from Wall’s, it also acquired brands like Yankee Doodle, Sub-Zero, and Gaylord. The last piece in the first chapter of the ice cream puzzle was when Milkfood was picked up from Jagatjit Industries in 1994. Not surprisingly, all these brands eventually made way for Wall’s. The most recent development in the ice cream business relates to parent company Unilever announcing a strategic intent to separate its ice cream business globally. The segment, which brings in revenue of €8 billion, has well-known brands under its wing, like Magnum, Ben &…

As the world's fifth-largest economy, India's journey towards self-sufficiency is not just an economic ambition but a strategic move to uphold national sovereignty and security through indigenous strength. The recent paradigm shift towards indigenization reflects India's commitment to 'Aatmanirbhar Bharat' or a self-reliant India, aiming for technological advancement and innovation in the defence and aerospace sector. In line with this vision of 'Aatmanirbhar Bharat', Adani Defence and Aerospace has been building state-of-the-art defence capabilities ensuring Swa:Raksha ('Swa' in Sanskrit means 'Self' and 'Raksha' means 'Defence'). Its objective is to stay ahead of the times and remain prepared for any contingency. Under the visionary leadership of Adani Group's Chairman, Mr. Gautam Adani, who wants to leave a legacy by making a humble contribution to Indian Armed Forces and to see a…

“WHEN AN MSME goes to a bank for financing, it means that it is a patient and needs to be in the ICU. That is how banks should treat the business. Instead, they ask for several documents and take a long time to lend, if at all,” says Gaurav Kumar Jain, the owner of Meerut-based MSMEs K.R. Industries, K.R. Synthetic and K.R. Rubber, which manufacture a range of rubber, sports goods and fitness equipment. The district of Meerut in Uttar Pradesh is India’s second-largest producer of sports goods after Jalandhar in Punjab. But problems in sourcing raw material, meeting international quality standards and challenges with ease of doing business are some of the biggest hurdles for MSMEs in the space, says Jain. His comments are met with laughter by other…

Union Finance Secretary T.V. Somanathan, a 1987-batch IAS officer from the Tamil Nadu cadre, is an expert policymaker with previous stints in the Prime Minister’s Office and as Director at the World Bank, Washington D.C. A PhD in Economics and a chartered accountant, cost accountant and company secretary by training, he is closely involved in the preparation of the Union Budget every year. In an interview with Business Today’s Surabhi, the 58-year-old says that the projections in the Interim Budget this year are as realistic and credible as if it were a regular Budget. Somanathan, who is also Secretary, Department of Expenditure, is confident that rural consumption will pick up this fiscal and explains why the rate on the popular public provident fund has been kept unchanged for several quarters, given its high…

WHEN 10CLUB, ONE of India’s rising rollup stars, announced a pivot to single-brand play, the Bengaluru-based firm wasn’t just altering its own course but catching the pulse of global markets, offering a glimpse into what might be on the horizon for its Indian counterparts. 10Club was among a host of start-ups that emulated the model of Thrasio, a US-based e-commerce brand aggregator, in India and swept the market as investors eagerly poured funds into them. The frenzy was such that Mensa Brands, launched by former Myntra CEO Ananth Narayanan, became a unicorn in just six months, the fastest Indian start-up to enter the coveted club. What explains the tremendous investor interest this space saw then? The answer may lie in the business model. Commonly known as roll-ups, these e-commerce brand…

GOLD HAS BEEN on a tear since the beginning of 2024. On March 21, it touched an all-time high of ₹66,943 ($2,224.80) per 10 gm. Considering this, investors may be forgiven for thinking that it’s time to go big on gold. Why not make the most of this rally? But there lies the rub. The recent surge in prices to all-time highs has come despite an increase in uncertainty about the trajectory of the yellow metal, which has left many market veterans puzzled. Gold is a traditional hedge at times of high inflation or economic uncertainty—global and domestic. And though there is continued economic uncertainty in light of the Israel-Hamas war, the worst of the inflationary surge of 2021 and 2022 seems well and truly to have passed. Besides, it…

What was the problem you were grappling with? I found it really challenging to handle the company’s growing scale. With the increasing complexity of operations, I felt overwhelmed trying to navigate through the uncertainties. The downturn in 2022 exacerbated the situation, making me feel disoriented and unsure about how to steer the ship. Whom did you approach for advice? I reached out to Rajeev Jain, MD of Bajaj Finance, for his insights, direction, and a fresh perspective. What was the advice you received? Rajeev’s guidance centred on the mantra “be in haste but not in a hurry,” stressing the need for urgency without sacrificing strategic planning. He also emphasised the significance of “building moats” and encouraged us to embrace a long-term perspective. How effective was it in resolving the problem?…