Friday, 31st July ’20
Good morning, here we are at the end of the week with TMT Friday. Top CEOs were questioned in the USA. Lawmakers question Jeff Bezos, Mark Zuckerberg, Sundar Pichai, and Tim Cook tough questions in order to ensure that the US tech ecosystem is transparent and open for new players. This begs the question “Why aren’t the top CEOs in India answerable?” Here is a poll where you can let us know what you think?
To end the week, here are a few words to ponder from martial artist, Bruce Lee,
Adapt what is useful, reject what is useless, and add what is specifically your own.
MARKETS
Markets: Equity benchmark Sensex plunged for second day in a row. IndusInd Bank, HDFC, Axis Bank, PowerGrid, SBI, Bajaj Finserv and Bharti Airtel were top laggards. Sun Pharma, Maruti, Infosys and RIL were among the gainers. Unlock 3.0 failed to raise the market sentiment. RIIL reported a 31.16 percent rise in profits at Rs 13,248 crore this quarter. HDFC and Dabur’s profits declined this quarter. US GDP saw the sharpest collapse in GDP fall since the Great Depression collapsing at 32.9% annualised rate last quarter.
TECHNOLOGY & INNOVATION
In the congressional hearing Big tech CEOs parried a range of accusations from lawmakers that they crippled smaller rivals in the quest for market share. Bezos said that he can’t guarantee that the company isn’t accessing third-party seller data to develop its own competing products.
Steel construction has begun on the nearly 3-million-square-foot factory that will mass produce Ultium battery and packs, the cornerstone of General Motors’ strategy to bring 20 electric vehicles to market by 2023. The factory will be able produce 30 gigawatts hours of capacity annually.
A record number of digital payments have been reported on channels operated by the National Payments Corporation of India, largely aided by government relief funds, Adhaar payments through DBT. Transactions worth Rs 20,000 crore were processed on the Aadhaar-enabled Payment System in June as compared to Rs 11,300 crore in February.
WHAT ELSE IS COOKING
- Safeguard duty imposed on solar cells imports till July 2021: The government has imposed safeguard duty on solar cells for one more year till July 2021 to protect domestic manufacturers and discourage cheap imports from countries like China. China accounts for nearly 80% of module supplies in India. The Renewable Energy Ministry has also proposed imposing customs duties on some solar power equipment as part of the country’s goal of becoming self-sufficient.
- Oxford COVID-19 vaccine may come by year-end, trails going good: The COVID-19 vaccine developed by the University of Oxford and British-Swedish firm AstraZeneca has recently started its final trial in Brazil. The drug firm has already partnered with several countries to make more than 2 billion doses, speculating that the vaccine could be approved by the end of this year. AstraZeneca has partnered with Serum Institute of India (SII) to develop COVID-19 vaccine for India.
- Oppo Reno4 Pro gears up for a power-packed AR launch today: On July 31, OPPO is launching its revolutionary OPPO Reno4 Pro in India in an AR-powered event on its official YouTube channel. The phone is backed by 65W SuperVOOC 2.0, which means that with just five minutes of charging, you can do calls for two hours or watch videos for four hours!
IN-DEPTH ANALYSIS
How Did We Get Here: investment Funds…continued
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Mutual funds were introduced to the United States in, as late as, the1890s. However, with the growing of their financial acumen, the Americans made a lot of progress in the latter part of the mutual funds’ history. Mutual funds gave way to a few outshoots, like index funds and exchange traded funds, which differ in the manner in which they are traded.
In 1960 , Edward Renshaw and Paul Feldstein, both students at the University of Chicago came up with the idea for an “Unmanaged Investment Company” which start off a sequence of events that led to the creation of the first index fund in the next decade.
The fund organized as an open-end, diversified investment company whose investment objective is to approximate the performance of the Dow Jones Industrial Stock Average. Index funds are designed to follow certain preset rules so that the fund can track a specified basket of underlying investments.
Those rules may include tracking prominent indexes like the S&P 500 or the Dow Jones Industrial Average or implementation rules, such as tax-management, tracking error minimization or flexible trading strategies that allows for greater tracking error, but lower market impact costs.
Wells Fargo and American National Bank launched the first index funds for institutional investors in 1973, and Vanguard followed suit shortly after with an index fund for retail investors. The portfolios consisted mostly of U.S. stocks and bonds, with little to no regard for diversification or asset allocation.
MANAGERS’ CORNER
Toyota’s 3M Lean Manufacturing Management
Muda, Mura, and Muri are Japanese terms that refer to the three categories of waste found in a business, used to implement proper lean manufacturing processes.
Carmaker Toyota has institutionalized the 3M principle in its most acclaimed Toyota Production System for goals to eliminate – 1) Overburden or stress in the system (Muri) 2) Inconsistency (Mura) 3) Waste (Muda). The processes are designed to
Every waste has a cost and is thus a direct loss to a company. The economic value of waste is in the range of 10-35% of a processing company’s annual turnover. All lean companies strive to eliminate muda, mura, and muri, but it’s important to explicitly identify all sources of waste before deciding on a removal plan. The best is a Root Cause Analysis involving 5Why solution. Many other OEMs have started emulating the very principle to cut down their process costs and conserve their revenues allocated for waste management. For every processing industry, 3M management has become a top trend in 2020’s supply chain.
THE MILLIONAIRE MINDSET- Person of the Day
Satish Gaire – “The Jack of SaaS”
Much more than just an internet marketer and entrepreneur, Satish Gaire (regarded as the King of SaaS platforms), holds a distinct recognition to have launched more than 700+ software products online. These softwares have assisted many organizations in operating and expanding their businesses. Mr. Gaire, sits today as the CEO of Podmio (a world class Podcasting platform which allows you to monetize your podcasts) and DirectPay (All in one solution for selling digital/physical products online with automated delivery & management.). He is also the founder of LogicXY, a creative agency based in Texas.
But this journey of becoming much more than yourself at a young age is never a cakewalk. It requires unflinching dedication to further your passion, which Mr. Gaire began at about 14 years of age. He says,“I founded most of our software companies to fill a major gap in the industry or because I didn’t have access to something I needed.” He intends to spread his knowledge to help others achieve the same level of success through his podcasts, speeches & courses, you can find in https://satishgaire.com/#
Written by Kumar Sourav Mohanty, Akansh Bhatt, and Shashank Dobhal
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