- #IC814TheKandaharHijack Row: The Kandahar Hijack Row: I&B Ministry summons Netflix content head
- Auto sales and supply lower than demand so inventory levels are high
Watch 'Big Story' with @nupurtalwarsuri. #NDTVProfitLive
Category
🗞
NewsTranscript
00:00:00for the action that has been taken, but first let me go across to cinema critic and analyst
00:00:07Mr. Amitabh Srivastava. He joins us on the phone line. Mr. Srivastava, thank you very much for
00:00:12joining us. Mr. Srivastava, to begin with, how do you see this controversy? Now, what we understand
00:00:17is that the Netflix contact head has been summoned by the INB ministry to explain certain aspects of
00:00:25the series. See, as far as I can understand, the controversy has erupted because of certain memes
00:00:35of the hijackers and I think it erupted on the social media only that some of the hijackers
00:00:45in the series have been doing memes and I think those criticizing the entire series are blaming
00:00:55Anubhav Sena, the director, for kind of creating some fictitious memes just to malign the community.
00:01:04I think that is why this entire thing has happened. Otherwise, as far as I'm concerned,
00:01:08I have seen the series and I found it very engaging, very gripping and as we all know that
00:01:14this is a kind of a well-known incident of Indian Airlines flight 814 hijacked in 1991 when
00:01:22Mr. Satyajari Vasco was the Prime Minister. Actually, we all know that it happened only
00:01:28months after the Kargil victory over Pakistan and this kind of incident where 180 passengers were
00:01:36hijacked and it was finally kind of made its way to Kandahar, the flight was flown to Kandahar
00:01:44and then some kind of bargain was made between the Government of India and the hijackers and
00:01:59these hijackers were kind of released among whom the very well-known, very famous Maulana
00:02:07Mathur Dardar who was later on responded for the attack on Parliament. So, I think this became
00:02:15very big embarrassment for the BJP government and I think Anubhav Sena has done a very brave job
00:02:22by picking up the subject and portraying it during another BJP government regime.
00:02:30As I said, I found it very, very engaging, very embarrassing and we must understand that this
00:02:37entire series is based on the book written by the captain of that flight,
00:02:43Captain Devi Sharan, who has written a book titled Into Fear and Anubhav Sena has rated
00:02:50Mr. Devi Sharan for the content. So, whatever thing he has taken, I believe that that has
00:02:58been taken from the book. So, I don't think Anubhav Sena should be blamed for whatever
00:03:06controversy is being kind of blown up. Mr. Srivastava, one of the points that is
00:03:11being made is that the lack perhaps of a committee like a censor board to actually
00:03:18screen through this content creates these unnecessary stumbling blocks for filmmakers
00:03:25as far as OTT is concerned. Do you perhaps think that is one of the reasons why we see controversies
00:03:33surrounding OTT content time and again? Actually, this has been going on for quite
00:03:38some time. If you remember, there was a series called Tandav, I think on Amazon Prime Video,
00:03:47and that had Saif Ali Khan and Bumble Kapadi and two other big names from Bollywood and that also
00:03:55created some kind of controversy because something related to some Hindu Gods was shown in that
00:04:03series. And I think then also the content head of the concerned company was summoned and
00:04:12thereafter I think even the Supreme Court took up the matter and some guidelines were proposed
00:04:17to be kind of taken up and a lot of digital media policies have been framed after that.
00:04:24But I think this issue of censorship is a debatable thing. Some may say that yes,
00:04:31something is required to contain the kind of elements that create controversy,
00:04:37or some may say that it is not required. I mean, at least you can get something
00:04:42in the raw form, whatever you are producing, you are hearing. So there is nothing like a censor
00:04:50board that is kind of functioning for movies. For example, now we can see that Ganga announced
00:04:56a censor board right now.
00:04:59Now, Mr. Shrivastava, final question to you. Now, should the real names of these hijackers
00:05:04have been focused upon in this OTT series? Because that seems to be the main contention
00:05:10of the government that the real names of the people behind the hijacking do not seem to be
00:05:14coming out.
00:05:17See, the thing is, speaking from a point of view of the content creator, the director,
00:05:24I mean, if I am taking a book as my source material, the book is written by the captain
00:05:30of the flight, who was the first person who suffered the entire thing first hand,
00:05:36and he has written his experiences only. So if I'm telling the story from his point of view,
00:05:43then I will take the material provided by him only. And I will kind of rely on his material.
00:05:48So I think Anubhav Sinha has not done anything wrong. If anybody has any grouse,
00:05:56they should go back to the book. They should see that what is written in the book.
00:06:00And if there is any problem, they can kind of, I mean, maybe approach Captain Dinshara.
00:06:08Why pinpoint the director? He has done a good job. I mean, as a viewer, as a normal viewer,
00:06:15anybody who kind of finds interest in entertainment or these kind of things,
00:06:22they were real incidents, he will find it very embarrassing, as I said. So I don't see any point
00:06:28in criticizing the director. See, the point is that Anubhav Sinha has made some things and he
00:06:34has been critical of this government. So maybe that the troll army that is active on the social
00:06:41media here and there, they have started targeting him for his entire body of work,
00:06:48including this thing. All right, Mr. Srivastava, we appreciate you taking out the time
00:06:54and talking to us on this. Thank you very much for joining us on the broadcast. Let's also now
00:06:59bring in Abira Dhar, who is covering all angles of the story. Abira, take us through the latest
00:07:06that's on as far as this controversy is concerned. We know that the head of content of Netflix has
00:07:12been summoned. But what is the basic problem that the government and the INB ministry seems
00:07:17to have with this? Okay, let's start with the show IC814 that released on 29th of August.
00:07:28It is Anubhav Sinha's directorial debut for OTT. And it will be required looking forward to it.
00:07:37And I have watched the full show and I really liked it. I'm not here to support him or support
00:07:43somebody else. I'm just here to give you an outlook of the show and what people have been
00:07:49saying. So after the show, the Netflix series came out, it has got rave reviews. But a section
00:07:57of social media, there was a social media outrage about characters, the terrorist characters in the
00:08:06show being called Hindu names, being given Hindu names. They were called Shankar and Bhola. And
00:08:13the others were called Chief Dr. Burger. And the last two were Shankar and Bhola.
00:08:20So people had a question on social media saying, why have you given like, first of all, it was
00:08:28just random people saying he has deliberately given Hindu names to these Pakistani terrorists
00:08:38who have hijacked the flight. And there was a uproar on social media and there was something
00:08:46called Boycott Anubhav Sinha, which is nowadays a very common boycotting culture. So yeah,
00:08:54that happened and that's where it started. And then coming to defend him were also a lot of people
00:09:02who are just not people, but people who have either covered journalists who have covered the
00:09:10incident back in 1999, very closely seen what has happened. People who have written books on it.
00:09:18You know, there is this writer and journalist who on social media, he went on social media,
00:09:26I have nothing to do with this film. I had written a book years ago about this incident,
00:09:33the hijack, the Kamdar hijack. And he said very nicely that how, why these people are called
00:09:40Shankar and Bhola. And he explained it that these were the code names that they were using,
00:09:46the terrorists were using on the flight. They will not take their real names, right?
00:09:50They were all using code names, Chief, Burger, Shankar. So basically all the five names were
00:09:58code names. And that's exactly what Anubhav Sinha has shown in his series. So yeah, that's where it
00:10:07started. Abira, do stay with us. And in fact, the renowned filmmaker and director Anubhav Sinha
00:10:14spoke to Abira earlier and shared his views on how it's different to direct for OTT platforms
00:10:20from commercial films. Now the guidelines that come along and how a viewer can interpret your
00:10:24film based on their understanding. Listen in to what he told us. The only difference is the time
00:10:32of writing. Because then you know, you have to let go of the audience after this much time.
00:10:40And then you have to bring them back. That's the only new game that you have to play.
00:10:46Otherwise, shooting it and editing it and everything else is the same. And there is a
00:10:55different art form. Writing television is a different art form because, you know, we release
00:11:00a film and we do a month worth of promotions to bring them once to the theatre. Imagine you
00:11:08releasing a film in five parts. One episode will be released every day. Do you think you can bring
00:11:17them back five times? No, you can't. Just because they're at home and then the whole game of writing
00:11:24that I will let go of you and then I'll bring you back and let go of you again. That's a very
00:11:31dangerous game to play. And that's where the idea of binge comes from that you make it so binge worthy
00:11:38that the audience doesn't go. So you're saying you can go but actually don't. And so that's a game
00:11:46that you play with the audience. When you're making a film like this, which involves the government,
00:11:51which involves the army, what kind of guidelines do you have to follow that you have to show the
00:11:56series? What are the guidelines basically? Well, it looked like a guideline but no guidelines.
00:12:03No, that's why I asked you this. So you didn't have to show it to anyone?
00:12:10I wouldn't do it if that was a condition. When you were coming up with a show like this,
00:12:18do you think twice about anything before you put it on the screen? Anything is controversial.
00:12:25I mean, if anybody wants to find controversy in your beautiful pink shoes, there's controversy
00:12:32there. But then you can't second guess a controversy.
00:12:41There are people who had a problem with the
00:12:46papad. I was like, what? Why? They were very upset with me. I don't know why. So I never imagined
00:12:57that I would be a part of it. So you can't second guess it. You can hope and pray because who wants
00:13:04to be a part of any controversy? All right, Abhira, now coming back to you on this one.
00:13:10One of the points that is being made is that the identities of the real hijackers could have been
00:13:16more prominently displayed in the series. Anything that you're hearing from the makers on this?
00:13:21No. So I reached out to the makers and there has been no response. I think they are right now
00:13:27preparing to go and speak to the ministry. I'm talking to them in India. But yes, you're right.
00:13:36But I'll give you a perspective. We have seen a lot of films like this. But when you watch this
00:13:41film, at the end of the film, the filmmaker has made sure he gives you the pros and cons of it.
00:13:48He gives you the pros and cons of it. While there was during the show, I might be giving up
00:13:54giving away some spoilers here. But I need to explain this. While there were relatives who
00:14:01were waiting outside the airport for the loved ones to come back, there were also martyrs,
00:14:08parents, wives who were standing there saying that if you let go of the terrorists that our sons
00:14:15and our husbands have given their life for to capture, that is also not fair. So there are
00:14:20two sides that they have shown and you really understand how difficult a decision it is for
00:14:26the government also. While they're trying to save these people, they also have to do justice to those
00:14:32soldiers who have given their life to capture these people. And then at the end, it also shows
00:14:38after we let go of them, we did let go of the terrorists, three of them, after the hijack,
00:14:44because that was the deal, how much we have lost. The attacks that have taken place because of these
00:14:53masterminds. Absolutely. So as you're pointing out, Abira, this was quite a difficult sort of
00:14:59a topic to tackle. And perhaps we are seeing some bit of repercussions of that. Thank you very much,
00:15:04Abira, for joining us on The Big Story this evening. And before we move on to The Other Big
00:15:09Story, the former minister Rajiv Chandrasekhar has also supported the government's decision.
00:15:14In this, just listen in to his views.
00:15:18There is nobody, I vividly remember IC814. I was very aware of that accident and very involved
00:15:26in following that. Every man and woman in India and indeed in South Asia knows that that hijack
00:15:33of IC814 from Kathmandu, that act was committed by Pakistan's ISI backed terrorists. Now,
00:15:42nobody thinks that there were some people from India who did the hijacking. So how the people
00:15:46have Hindu named in that movie, I don't know. But I'm very, very happy that the INV ministry
00:15:52and the government of India has taken cognizance of this and has summoned Netflix.
00:15:57All right. So now we move on to the second part of The Big Story and auto sales were a mixed bag
00:16:04in August, where M&M's SUVs clocked 16% growth while Bajaj auto sales rose by 16%. Meanwhile,
00:16:12tractor sales remained muted. We are going to be joined by Hormaz Sorabji, the editor of Autocore
00:16:20India. But before that, let's go across. Thank you, Mr. Sorabji for joining in. We're just going
00:16:24to come to you very quickly. But just a quick report from Tushar who breaks down these numbers
00:16:29from us. So the August auto sales can actually be described as a dichotomy, at least in the
00:16:36four wheeler space. If you look at the table, Maruti Suzuki, Hyundai, as well as Tata Motors,
00:16:42the top three car makers have reported declines in the month of August. That's mostly due to the
00:16:50fact that they are realigning their production or sales or dispatches that's from the showroom,
00:16:56from the factory floor, the showroom floor to align it with the inventory build up that has
00:17:01been that has been building since actually made this year. Remember, the inventories at about 67
00:17:06to 70 days, about 70,000 crore rupees of unsold stock is with dealerships. But in comparison,
00:17:15Mahindra and Mahindra and Toyota have seen stellar growth that's on the back of actually a
00:17:19low base. And the fact that Mahindra and Mahindra is working on full capacity and they both the
00:17:25companies, Mahindra as well as Toyota have huge order books, which also get which also had to be
00:17:30addressed. Essentially, they are working at full capacity. Coming to the two wheeler space,
00:17:35the dichotomy spells over into two wheeler space as well. A hero or a TVS growing at more than 5%
00:17:43indicates that the rural demand is finally coming back to the two wheeler space. Bajaj
00:17:49Auto's growth indicates that the premization or the demand for premium motorcycles is still intact
00:17:58in the in the Indian two wheeler market. But that cannot be said for Royal Enfield because
00:18:03of the product fatigue that is that the company is seeing in its 350cc segment. Remember,
00:18:07the classic is its breadwinner. It's everywhere. Everybody wants it. But now eventually the
00:18:12competition has caught up and people have more options apart from the 350cc Royal Enfields
00:18:18to get into the two wheeler space. All right, Tushar, thank you for that. Now, Mr. Sarabji,
00:18:23what are your key takeaways from the data that's come? It seems like quite a bit of a mixed bag
00:18:28really. But overall, the sector has been grappling with a downward sales trend in the recent month,
00:18:35hasn't it? Yeah, it has. I think, you know, one has to put it in the right perspective and
00:18:40remember that, you know, we've had multiple years since Covid of stellar growth. You know,
00:18:46sales have literally gone through the roof, setting records every year. Clearly, we have
00:18:52a very, very high base and we are seeing a base effect right now. And, you know, in a way, the
00:18:56party is over. It's back to business for dealers and OEMs. There are no more supply constraints.
00:19:05You know, the long tail demand of Covid is now finally mopped up and it's just back to how it was
00:19:13before, which is, you know, I think just finding buyers in a market that's getting more and more
00:19:20saturated. So I think it's nothing unusual. I still think overall, if you look at it in absolute
00:19:26terms, the volumes are still high. But clearly, you know, manufacturers now have built capacity,
00:19:31they are building capacity and that's not enough. And they want to push more and more volume.
00:19:37Any word on the inventory levels? Because at this point also, we seem to be seeing very,
00:19:41very high inventory levels coming in for various sectors.
00:19:47I think inventory levels is an issue. Clearly, it is. I think, you know, OEMs have also,
00:19:54I think, to certain investors made commitments on volumes that they have to achieve. So clearly,
00:20:00they are pushing inventory and that is causing a bit of a pile up because there are not enough
00:20:07customers for those cars. So yes, inventory buildup is an issue. I think dealers have,
00:20:13dealer body has also publicly got into a spat on this with S&M, FADF. So I think it is, again,
00:20:22not a situation we've not seen before. But I think, you know, for OEMs, they need to be careful
00:20:28as to how much capacity they are building up, what sort of volume projections they are looking
00:20:34at going forward. I think it would be wise to be more prudent and more realistic in what the
00:20:40demand is going to be, you know, in the next year to 18 months.
00:20:45Now, traditionally, of course, the Indian markets, you know, have been a bit slow at the beginning
00:20:49of the year, but it does tend to pick up later on in the year, you know, around the festival season,
00:20:55which should now be, we should now be walking into that. But do you think that with this latest
00:21:00data that's come in, that could be more of a challenge now? Well, I think festival season,
00:21:04definitely the sales will pick up. You know, don't forget, we had a bit of a blip with,
00:21:12you know, very hot summer, people didn't go out, elections were on, so purchasing decisions were
00:21:17deferred. Consumers love a sweet deal and the more discounts they are, they will continue to,
00:21:23you know, get cars. It all depends on, you know, what sort of, let's say, deals consumers are
00:21:30getting and the discounts that will be a big driver for overall volumes. And clearly getting
00:21:37into the festive period, that's really what we will see. So I think we will see definitely an
00:21:42uptick in sales for sure. We've also got some, you know, more big models coming out, which will
00:21:48overall drive, you know, let's say, sales higher. So I think it's not going to be all
00:21:55doom and gloom in the festive season. But clearly, I think, you know, there's no longer that pull in
00:22:00the market that there used to be. There's a big push needed by both the dealers and the manufacturers.
00:22:08Right, you did mention the discounts, you know, everybody who's watching is going to be
00:22:12largely interested in that and people who are looking to buy a car. But given the cost
00:22:16pressures that are involved, do you think that automobile companies are going to come up with
00:22:23big discounts in the festival season? Because anybody who was looking to buy a car in the past
00:22:28three months would be waiting now in the hope that they'd get better deals. Well, yeah, I think one
00:22:33again has to look at it in the right perspective that if you see the overall price base of cars
00:22:39has shot up dramatically. Again, since COVID, cars are much more expensive than what they were.
00:22:46I think even the core of the demand is moving into more profitable segments. Earlier, it used
00:22:51to be sub 10 lakhs, now it's 10 to 20 lakhs, where there's more margin over there. So I think
00:22:56in terms of margin and profitability, actually, the OEMs are pretty well placed because
00:23:02what's changed is the Indian consumers kind of propensity to buy and buy expensive. You know,
00:23:08they're looking, they've gone from being cost conscious to value conscious. We've seen that
00:23:13especially in the luxury segment, where cars of over one crore are probably the fastest growing,
00:23:19very, very tiny segment, of course, a minuscule segment, but it just shows the mindset of
00:23:23consumers who are willing to pay if they get the right set of features and what the content in the
00:23:29car and what it offers. So I think margins is yes, there is pressure on that when discounts happen
00:23:36by I think OEMs and a lot of them have enough of that buffer.
00:23:43What's your outlook on two wheelers now? Those sales seem to have picked up and perhaps it's
00:23:48also indicative of rural demand. Yes, I think I would, you know,
00:23:53absolutely. I think we are seeing a certain pickup in rural demand, which has a direct
00:23:57correlation with two wheeler sales. So I think, you know, after many years of really floundering,
00:24:01I think we are seeing a kind of revival at the lower end of the pyramid and the spectrum and
00:24:06again, that's, you know, I think a good sign for the two wheeler segment as well. So, you know,
00:24:10it's a little bit of an up and down. You've got the cars flattened out and now you've seen the
00:24:14lower end of the mobility chain picking up. Any last word on EVs? We've, of course,
00:24:21you know, fame three is what we are hearing is going to roll out by the middle of this month.
00:24:27I think it's going to be a challenging time for EVs, but, you know, eventually they will pick up.
00:24:34That definitely is the future. And OEMs will have to push that if they are to meet
00:24:39future cafe three norms, which kick in 27, 28. But I think for now, there's a bit of flux in
00:24:44the market. The early adopters, whoever to buy an EV, who are the evangelists, who are convinced
00:24:50they've done that. Right now, people are weighing up between EV and ICE, a little bit more skeptical
00:24:56on EVs. There's little concerns about resale value. That's really the big bomb waiting to
00:25:02drop because clearly anecdotal data tells us resale values are really, really poor on EVs.
00:25:08So I think, you know, all these factors are going to be an issue. And I think
00:25:12also for me, I think the fundamental issue is that home charging is not as rapid as the
00:25:20adoption of it or the availability of it is not happening as fast as it should. And that to me is
00:25:26also a huge hurdle for EV adoption. All right. Parmasarabji, I appreciate
00:25:32your joining in on the big story this evening. Thank you.
00:25:36Thank you. Thanks for having me. All right. Now, so the disappointing auto sales, of course,
00:25:40were attributed to the election in the last quarter and sales are expected to pick up in
00:25:43the next quarter. Here's a tip on what stocks to buy from Anand Rati's Mumkesh Mandalesha.
00:25:51Two-wheeler will grow in double digit for this year as well. And also for next year,
00:25:57also we are factoring in double digit for two-wheeler. So where the two-wheeler names
00:26:02remains a preferred pick in the OEM pack, along with the Hero as a best bet. And while on the
00:26:11PV side, we particularly like M&M, where though, I mean, industry is soft, but they will do a
00:26:19double digit growth and there the tractor is facing a cyclical recovery. So that would be
00:26:24the name we like. And also with the CV cycle, would somewhere get bottoming out and switching
00:26:32recovery from second half, then the Ashok Lelen also looks good.
00:26:36All right. And on that note, it is a wrap on the big story. Thank you for joining us.
00:27:19Transcribed by https://otter.ai
00:27:49Transcribed by https://otter.ai
00:28:19Transcribed by https://otter.ai
00:28:49Transcribed by https://otter.ai
00:28:50Transcribed by https://otter.ai
00:28:51Transcribed by https://otter.ai
00:29:15Well, that was our first big story of the day. For our next story in focus,
00:29:19we turn towards the auto sector.
00:29:49Transcribed by https://otter.ai
00:30:19Transcribed by https://otter.ai
00:30:49Transcribed by https://otter.ai
00:31:19Transcribed by https://otter.ai
00:31:49Transcribed by https://otter.ai
00:32:19Transcribed by https://otter.ai
00:32:49Transcribed by https://otter.ai
00:33:19Transcribed by https://otter.ai
00:33:49Transcribed by https://otter.ai
00:34:19Transcribed by https://otter.ai
00:34:49Transcribed by https://otter.ai
00:35:19Transcribed by https://otter.ai
00:35:49Transcribed by https://otter.ai
00:36:19Transcribed by https://otter.ai
00:36:49Transcribed by https://otter.ai
00:37:19Transcribed by https://otter.ai
00:37:49Transcribed by https://otter.ai
00:38:19Transcribed by https://otter.ai
00:38:50Transcribed by https://otter.ai
00:38:51Transcribed by https://otter.ai
00:39:19Transcribed by https://otter.ai
00:39:20Transcribed by https://otter.ai
00:39:50Transcribed by https://otter.ai
00:40:20Transcribed by https://otter.ai
00:40:50Transcribed by https://otter.ai
00:41:20Transcribed by https://otter.ai
00:41:50Transcribed by https://otter.ai
00:42:20Transcribed by https://otter.ai
00:42:51Bajaj Housing Finance IPO opens on the 9th of September and the size is over 6,500 crore rupees.
00:42:58I'm joined by my colleague Harsh Saita to break down the upcoming issue.
00:43:02Harsh, tell us more. What's the breakup of this issue and what do the company's financials look like?
00:43:09Well, so Bajaj Housing Finance, it's a 6,560 crore rupee IPO of which 3,000 crore is a pure offer for sale by Bajaj Finance itself.
00:43:21So they'll get cash worth 3,000 crore in their books on the back of this IPO.
00:43:27The size of Bajaj housing...
00:43:30Let's now shift our focus to the auto sector.
00:43:32Auto sales were a mixed bag in August month where M&M's SUVs clocked 16% growth while Bajaj's auto sales rose by 16%.
00:43:41Meanwhile, tractor sales remained muted. Tushar joins in with a breakdown of all the numbers.
00:43:46Tushar, what are you picking up?
00:43:48So the August auto sales can actually be described as a dichotomy at least in the four-wheeler space.
00:43:54If you look at the table, Maruti Suzuki, Hyundai as well as Tata Motors, the top three car makers
00:44:01have reported declines in the month of August. That's mostly due to the fact that...
00:44:07Now, M&M was definitely the outperformer in the August auto sales.
00:44:12We spoke to Vijay Nakara, the president of the automotive division at Mahindra and Mahindra.
00:44:17And he says that he's confident that festive season sales backed by a good monsoon will further aid growth. Listen in.
00:44:26As all of us have seen that, you know, while the PV industry has been largely flat, the SUV industry has been growing.
00:44:34And if you look at YTD July, we still have to wait for August numbers to come out of the industry.
00:44:39The industry has had a 15% growth against more or less...
00:44:45The disappointing auto sales were attributed to the election in the last quarter and sales are expected to pick up in the next quarter.
00:44:52Here's a tip on what stocks to buy from Anand Rathi's Mukush Mandleshah.
00:45:14Dushyant, stay with us. Let's talk about Fame 3 subsidy. It's likely to be rolled out by mid-September.
00:45:20What more are you picking up on the matter?
00:45:42SEBI chairperson Madhavi Puri Butch has announced that Aditya Birla Sun Life Mutual Fund is planning to launch a Rs 250 SIP
00:45:49becoming the first fund house to take concrete steps towards the new initiative.
00:45:55Now NDTV profit sources also confirmed this announcement.
00:45:58In December 2023, the SEBI chief had announced that the regulator was working with mutual fund houses to make a systematic investment plan or SIP of Rs 250 viable for the industry.
00:46:13There are, you know, large parts of the industry in our ecosystem, for instance, the mutual funds.
00:46:19Just the other day, I think the Birla Mutual Fund launched the Rs 250 SIP.
00:46:24Now, we've been working very closely with...
00:46:28The Supreme Court of India indicated that it will lay down guidelines on the recent bulldozer practices opted by governments on immovable properties.
00:46:38The top court said that the properties of the accused can't be demolished even if he is convicted and further questioned this practice.
00:46:45I'm now being joined by Varun Kakkar for more on this.
00:46:50The Supreme Court has come down heavily on the system of bulldozer justice,
00:46:54questioning the fact that how a house can be demolished if it belongs to an accused or even a convict in a criminal case.
00:47:00The court has proposed to set up a set of pan-India guidelines that must be followed while these illegal constructions are...
00:47:06The Gujarat government has announced a significant merger involving Gujarat Gas, Gujarat State Petroleum Corporation and Gujarat State Petronet.
00:47:15Now, this restructuring aims to streamline operations and enhance business synergies within the state's energy sector.
00:47:23I'm joined by Megha for a comprehensive breakdown of the merger.
00:47:29Just break it down in terms of what the scheme of arrangement actually is.
00:47:33Now, the first part, three entities will merge into Gujarat Gas and this is mainly Gujarat State Petroleum Corporation,
00:47:42which is an unlisted company, Gujarat State Petronet.
00:47:46Thank you for that, Megha.
00:47:47The International Financial Services Center Authority or also called IFSCA has finalized regulations for direct listings on the exchanges in Gift City.
00:47:59Now, this landmark move will allow foreign entities and unlisted domestic companies, including startups, to directly list their securities.
00:48:07The aim is to attract offshore investors to expand the financial hub and further strengthen India's position in the global capital markets.
00:48:15Now, the minimum issue size for a listing has been set up at 50 million US dollars under the new rule, although the authority may modify this amount in the future.
00:48:28Now, moving on, rain fury continues as heavy rains lash Telangana and Andhra Pradesh, causing flooding and waterlogging in several areas and disrupting road and even rail traffic.
00:48:41The Telangana government stepped up relief measures following heavy rains in the state.
00:48:46My colleague, Umar Sudhir, has sent in a detailed report. Take a look.
00:48:51It has been now three to four days of incessant rains and both Andhra Pradesh and Telangana would be hoping that the worst is over or is behind them.
00:49:01As of now, still in Telangana, as many as 19 districts, the flash flood risk alert has been given in as many as nine.
00:49:10Moving on to Gujarat, where several parts of the region, including Saurashtra and Kutch, are bracing for heavy rainfall and thunderstorms over the next two days.
00:49:20The IMD has issued warnings today from its Ahmedabad centre, urging residents to stay cautious.
00:49:26Since August 25th, flash floods have tragically claimed the lives of 36 people across the state.
00:49:33Districts in the Saurashtra region experienced significant rainfall with totals ranging from 50 mm to 200 mm within just 12 hours.
00:49:44Bhanwar taluka in Dwaraka recorded 185 mm of rain, the highest in the state during this period.
00:49:53Now, according to officials from the Indian Army, one soldier was critically injured earlier today at Jammu's Sunjwan military station after terrorists opened fire.
00:50:03As per the statement, the terrorists had fired from a standoff distance from outside the base.
00:50:09On Thursday, the Indian Army successfully eliminated three terrorists attempting to infiltrate across the line of control in Machhal and Tangdhar districts of Jammu and Kashmir.
00:50:22This was the sixth operation in the Kupwara district this year, which has now resulted in the killing of 10 terrorists, including foreign infiltrators.
00:50:39That's all we had on this show of Profit 360, but stay tuned for more such updates. Thank you for watching.
00:51:09Profit 360
00:51:39www.profit360.com
00:52:09www.profit360.com
00:52:39www.profit360.com
00:53:09www.profit360.com
00:53:39www.profit360.com
00:54:09www.profit360.com
00:54:39www.profit360.com
00:55:09www.profit360.com
00:55:39www.profit360.com
00:56:09www.profit360.com
00:56:39www.profit360.com
00:57:09www.profit360.com
00:57:12www.profit360.com
00:57:15www.profit360.com
00:57:18www.profit360.com
00:57:21www.profit360.com
00:57:24www.profit360.com
00:57:27www.profit360.com
00:57:30www.profit360.com
00:57:33www.profit360.com
00:57:36www.profit360.com
00:57:39www.profit360.com
00:57:42www.profit360.com
00:57:45www.profit360.com
00:57:48www.profit360.com
00:57:51www.profit360.com
00:57:54www.profit360.com
00:57:57www.profit360.com
00:58:00www.profit360.com
00:58:03www.profit360.com
00:58:06www.profit360.com
00:58:09www.profit360.com
00:58:12www.profit360.com
00:58:15www.profit360.com
00:58:18www.profit360.com
00:58:21www.profit360.com
00:58:24www.profit360.com
00:58:27www.profit360.com
00:58:30www.profit360.com
00:58:33www.profit360.com
00:58:36www.profit360.com
00:58:39www.profit360.com
00:58:42www.profit360.com
00:58:45www.profit360.com
00:58:48www.profit360.com
00:58:51www.profit360.com
00:58:54www.profit360.com
00:58:57www.profit360.com
00:59:00www.profit360.com
00:59:03www.profit360.com
00:59:06www.profit360.com
00:59:09www.profit360.com
00:59:12www.profit360.com
00:59:15www.profit360.com
00:59:18www.profit360.com
00:59:21www.profit360.com
00:59:24www.profit360.com
00:59:27www.profit360.com
00:59:30www.profit360.com
00:59:33www.profit360.com
00:59:36www.profit360.com
00:59:39www.profit360.com
00:59:42www.profit360.com
00:59:45www.profit360.com
00:59:48www.profit360.com
00:59:51www.profit360.com
00:59:54www.profit360.com
00:59:57www.profit360.com
01:00:00www.profit360.com
01:00:03www.profit360.com
01:00:06www.profit360.com
01:00:09www.profit360.com
01:00:12www.profit360.com
01:00:15www.profit360.com
01:00:18www.profit360.com
01:00:21www.profit360.com
01:00:24www.profit360.com
01:00:27www.profit360.com
01:00:30www.profit360.com
01:00:33www.profit360.com
01:00:36www.profit360.com
01:00:39www.profit360.com
01:00:42www.profit360.com
01:00:45www.profit360.com
01:00:50www.profit360.com
01:00:53www.profit360.com
01:01:15If I look at the market expectations of Fed rate cuts, a lot of those are already in the
01:01:22price.
01:01:23And that's, of course, coming at a time in the year when September says seasonally tends
01:01:27to be a much softer month.
01:01:28And obviously, we are rising uncertainty in the form of elections, geopolitics.
01:01:32So that's the reason why we've taken a little bit more of a balanced approach, saying, look,
01:01:36the baseline path still is all of these factors, particularly rate cuts, should prove to be
01:01:41a tailwind.
01:01:43But we just want to balance that a little bit more than usual with owning high quality
01:01:48bonds on the side and indeed gold.
01:01:50So I think that's really the way we're positioning ourselves at this point in time, particularly
01:01:53after being overweight in a year when equities have done very, very well in India, but indeed
01:01:58almost in all major markets around the world.
01:02:01And we, in fact, spoke to Abhay Agarwal of Piper Serica, and he explains why he's negative
01:02:06on banks while being positive on insurance and non-lending financials.
01:02:12The cost of money, cost of deposits is going up.
01:02:14Deposits are more scarce to get.
01:02:16Cost to income ratio is going up across the board, we've seen, because of higher rentals,
01:02:20attrition, salaries.
01:02:22And then you have higher NPAs kicking in, you know, collection efficiency has down from
01:02:2798 percent to 94 percent for microfinance industry.
01:02:31So there is struggle on all aspects for lenders, including banks, private banks, public sector
01:02:37banks.
01:02:38And Bajaj Housing Finance IPO opens on the 9th of September and the size is over 6,500
01:02:43crore rupees.
01:02:44Harsh Saita is joining us to break down the upcoming issue.
01:02:47Harsh, tell us more in terms of what's the breakup of this issue and what do the company's
01:02:51financials look like?
01:02:53Well, so Bajaj Housing Finance, it's a 6,560 crore rupee IPO, of which 3,000 crore is a
01:03:01pure offer for sale by Bajaj Finance itself.
01:03:05So they'll get cash worth 3,000 crore in their books on the back of this IPO.
01:03:11The size of Bajaj Housing is around 97,000 crore in terms of AUM.
01:03:19It's one of the largest in terms of housing finance NBFCs in the country, behind just
01:03:25LIC Housing.
01:03:27There's no other housing finance here which is this large.
01:03:30And the growth in this company...