Tuesday, 14th July ’20
Good morning, we welcome to you to an exciting new day for TMT Tuesday. Here, we walk you through the galore of the latest and the most entertaining news. Indian digitization is catching up with lot of traction with Google’s investments, high valuation for RPA startup and Reliance rocking the markets.
We’d also like to take this opportunity to thank all our subscribers and request you to spread the word as we bring you the best news every day.
MARKETS
- Markets: Rossari Biotech IPO opened today, subscribed 60% on day 1. Reliance became the 51st most valued firm in the world and top 10 in Asia. Analysts suggest three options–Rossari Biotech IPO, Yes Bank FPO, and Bharat Bond ETF to secure good returns.
- Economy: Corona will continue to worsen market sentiments according to Nomura analysts. COVID-19 will continue to amplify financial sector weakness, worsen non-performing assets, and slow the growth potential.
TECHNOLOGY & INNOVATION
- Google to invest $10 billion in India in the next 5-7 years and sets up India Digitization fund according to CEO Sundar Pichai. They will use this fund to buy stakes in large Indian companies as well as niche digital service providers. Google’s past investments in India include Dunzo, Cuemath, Aye Finance, Freshworks, Practo, and Cardekho.
- UiPath, an Indian Robotic Process Automation(RPA) firm has raised $225 at a whopping $10.2 billion valuation in series E funding. The company has grown its annual recurring revenue from $100 million to $400 million. They aim to advance the market-leading hyper-automation platform and expand cloud offerings.
- Confederation of Indian Industries has named Kunal Bahl, Founder and CEO of Snapdeal as the chairman of its e-commerce committee for 2020-21. Accelerated digitization and uncertain markets provide interesting disruption opportunities in e-commerce.
WHAT ELSE IS COOKING
- Biocon’s Itolizumab gets a nod from DCGI: Biocon Ltd has received approval from Drug Controller General of India for its monoclonal antibody Itolizumab for emergency use authorization, in case of cytokine storms – one of the leading causes of death among patients with severe COVID-19. Itolizumab is the first novel biologic therapy to be approved for treating patients with moderate to severe covid-19. This raised the shares of the drugmaker by 9.8% on Monday.
- CA exams scheduled for July stand cancelled: Chartered Accountancy exams have been re-scheduled for November, instead of July. An apex court bench headed by Justice A.M. Khanwilkar had on 30 June, asked ICAI to consider permitting the ‘opt out’ option for the CA examination till the last date of the exam. About 53,000 students have already chosen the opt-out scheme.
- Jammu & Kashmir restarts tourism from 14th July: The Union territory will open to tourists arriving by air only, in a phased manner. All incoming tourists must have confirmed hotel bookings for the duration of their stay. All incoming tourists must have confirmed return air tickets to any place outside J&K, either to their departure point or any other destination
IN-DEPTH ANALYSIS
India Plans to ramp up Bangladesh Trade to counter Chinese efforts.
Why in the news?
India is planning a multi-pronged strategy to enhance trade and business partnership with Bangladesh amid China’s efforts to woo Bangladesh.
What is the threat from China?
- Last week, China announced tariff exemption for 97% Bangladeshi products
- 1/4th of Bangladesh’s total import basket comprises Chinese goods
- China-Bangladesh bilateral trade deficit has increased 16-fold over the last two decades
How does India aim to enhance its trade with Bangladesh?
- India has decided to resume trade of essential items with Bangladesh via the rail route amid COVID-19
- Connectivity initiatives via sea-ports, inland water transport, rail and highways have been strengthened. Eg: Bangladesh-India Protocol on Inland Water Transit and Trade
- Duty-free access to several Bangladeshi products have been announced
- India has funded 55 small development projects and extended $8 million LOCs
What are the current challenges?
- Concern in Bangladesh regarding trade deficit tilted in favour of India
- Poor Infrastructure issues
- Illegal Trading along border
MORNING TEA BREAK- Upcoming Week Watch
Read: The Rosie Project. A hilarious story of a genetics professor who is socially inept and, to put it mildly, romantically challenged. Things begin to change when he figures out a statistically backed set of questions that just might help him make a breakthrough after all.
Watch: Tom Bilyeu runs an insightful podcast called the impact theory. This episode with Harvard psychologist Susan David talks about negative thoughts and how to make them useful. One of the great points they discuss is the corrosive aspect of what she terms the “tyranny of positivity” or the absurd positivity industry that tells you it’s your problem if you’re not happy 24×7.
THE MILLIONAIRE MINDSET
Knowledge Check – Net Promoter or Net Promoter Score (NPS) is a management tool that can be used to gauge the loyalty of a firm’s customer relationships. It is claimed to be correlated with revenue growth. It is based on responses to a single question: How likely is it that you would recommend our company/product/service to a friend or colleague? Of late NPS has gone through a transition where now, gradual change over time is more relevance.
Practice: Drinking water first thing in the morning is an excellent way to start your day. Water is the new coffee and offers variegated benefits over its caffeinated counterpart. Not only does it rehydrate you after a prolonged dry spell all night, it helps kick start your metabolism and guttural maintenance. Drinking a lot early in the morning can knock off a huge chunk of the daily water quota (3-5l) that one should have in a day.
Written by Kumar Sourav Mohanty, Akansh Bhatt, and Shashank Dobhal
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