- TV Narendran on demand of steel in India and globally
- #GautamAdani speaks on one year of #Hindenburg saga
Tune in to 'The Reporter' for these and more top news of the day. #NDTVProfitLive
- #GautamAdani speaks on one year of #Hindenburg saga
Tune in to 'The Reporter' for these and more top news of the day. #NDTVProfitLive
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TVTranscript
00:00 in cuts now for four days in a row, largely led by, you know, HDFC Bank. Now, the broader end of
00:06 the spectrum saw a little more resilience, of course, the mid cap index losing about a half
00:10 a percent or so, but the small cap index went home with gains of about half a percent or thereabouts.
00:16 In fact, the advanced decline ratio will more or less reflect this, where you saw even Stevens
00:21 through the session and you saw towards the end of the session a little more on the advances side
00:26 of things. Let's pull up the heat map as well for the Nifty 50 and it's an interesting story. You
00:31 see Bajaj Auto right on the top of the screen over there and that's on account of a smart set
00:37 of numbers for the third quarter, where you saw EBITDA margin increased to as much as 20 percent
00:42 or thereabouts on the back of a better volume mix. On the other end of the spectrum, on account of
00:47 a weak performance in the third quarter, Tech Mahindra, which pulled the entire IT pack lower
00:53 and that pack, in fact, was one of the underperformers in trade today. We were talking
00:57 about HDFC Bank, which is in the middle of the pack there. It's down about a percent or so,
01:02 but off the low point of the day, as a result of which you have the Nifty Bank, which made a bit
01:07 of a recovery. Now, all told, it's the end of a series and there was a smart bit of a recovery
01:13 towards the end of the session. Let's see if that carries through into the start of the new series
01:18 on Monday. Well, that was a quick market wrap for you. Now, Tata Steel's MD and CEO, TV Narendra
01:24 also spoke to NDTV Profit and shared his views on the demand of steel in India and globally.
01:29 Yeah. So, the demand has been pretty strong in India. If you see the steel consumption in India,
01:37 so far this year, it's grown at around 10 percent compared to the previous year.
01:40 So, we are finally seeing steel consumption grow at a rate faster than the GDP growth rate.
01:46 It was expected given the focus and the spend on infrastructure. Globally, demand is still
01:51 being a bit fragile, particularly in Europe. The European continent is still recovering from the
01:59 aftermath of COVID and the Ukraine war, which is ongoing. So, there the demand growth has not been
02:07 so great. But over the last few weeks, we started seeing prices creeping up in Europe because of
02:12 the fact that material which used to flow through the Red Sea and Suez Canal has got disrupted
02:17 because of the tensions there. Well, that was the company's management. And since we already gave
02:23 you a market wrap, Bajaj Auto was one stock that also stood out, that traded higher on the back of
02:29 a good set of numbers, where revenue, profit and EBITDA jumped 30 percent. And that's the chart on
02:34 your screen as well to show how Bajaj Auto fared during the day. My colleague, Hiral Dharia also
02:39 caught up with Rakesh Sharma of Bajaj Auto and began by asking about the exports recovery. Here's
02:45 what he had to say on that. Our mix in exports has also improved. Pulsers are now 28 percent of our
02:53 portfolio. And therefore, the EBITDA has grown faster than the top line in exports. So, while
03:01 volumes is down by 8 percent, revenue is up by 10 percent and EBITDA in the business is up by a
03:08 little more than that. That was Bajaj Auto's management for you. Now, as we have already
03:14 mentioned that NDTV Profit is bringing you a lot of coverage on the union budget 2024. And days
03:21 ahead of the budget, Finance Minister Nirmala Sitharaman has also outlined the priorities for
03:26 the economy while speaking at a college in Delhi. She said that the government is looking at
03:31 strengthening post-harvest practices in agriculture. She also highlighted that 16 sunrise sectors in
03:38 India like manufacturing and other are becoming growingly important. Here's what she had to say.
03:43 We are looking at strengthening agriculture, modernizing some of the practices, post-harvest
03:52 practices and so on. So, agriculture continues. In manufacturing, we are looking at, as I said,
04:00 about 13 sunrise sectors, whether it is renewable energy, semiconductor, machine learning related,
04:08 material sciences, earth sciences, space, are all areas in which high priority is being given,
04:22 not just for budget but also looking at strengthening R&D, bringing in experts from
04:30 other areas so that they can be advisors for greater futuristic planning and so on.
04:35 That was Finance Minister Nirmala Sitharaman. Now, moving on to the retail sector. My colleague
04:42 Sesar Sen is joining in with details about what the retail sector is seeking in terms
04:47 of OPF reforms in the budget 2024. India's consumption story has remained a baffling
04:57 tale of contrasts after COVID, which was further exaggerated by inflation and patchy monsoons.
05:05 Now, companies are still not seeing uniform growth across consuming classes, as indicated
05:11 in the quarterly earnings of Hindustan Unilever Limited, Colgate-Palmolive, United Spirits,
05:16 and even Avenue Supermarts. Now, while the premium segment is growing despite inflation,
05:22 the low rural offtake reflects income stress among households. So, clearly, one needs the
05:27 entire income pyramid and not just the affluent class to spend in order to jumpstart growth for
05:33 the consumer goods and the retail sector. Now, the key expectation from the government is to
05:38 foster rural demand. They expect the government to increase investments in rural areas that will
05:43 provide jobs and improve the non-farm income of households to ensure demand recovery. Increased
05:48 agriculture income schemes and incentives that support farm economies also recommended.
05:53 They also look forward to investments in agri-infrastructure such as cold chain,
05:58 warehousing, logistics, and irrigation, along with developing infrastructure for reducing
06:03 post-Harvard losses and improving rural connectivity that may have a bearing on boosting
06:08 demand. The industry is also seeking increased allocation to urban development projects that
06:13 may lead to job creation. Apart from that, the industry is also looking for lower taxes and any
06:20 other concession in form of lower taxes. And another, the last, which is also a crucial
06:27 ask from the retail industry is a national unified retail policy that has been in the works for quite
06:33 some time now. Right, Sasa. Thanks so much for bringing us those budget expectations.
06:38 Now, the General Insurance Council will make cashless hospitalization available for all
06:44 policyholders. My colleague, Monal Kota with Tapan Singhal, who is the CEO of Bajaj Alliance
06:49 General Insurance, and she began by asking him more about this new move. Let's dive into this
06:54 conversation. The endeavor that we had was, if we look at it from a customer perspective,
07:00 if he insures with the X company, Y company, they would have a certain panel of hospitals,
07:05 maybe a thousand, some hundred. But collectively, the industry would have close to 40,000 hospitals
07:09 in the panel. So why should a customer be limited to a certain number of hospitals? We said, why
07:15 not as an industry come together and endeavor to reach 100% cashless, which currently is at 63%,
07:21 no? Why can't from a customer perspective, he or she has a choice of full range of hospital,
07:26 irrespective from where they've insured? I think I'm very proud about the industry that all leaders
07:30 came together and they said, let's do this, no? From a customer perspective, with the guidance
07:33 of regulator and to see how do we pull it forward. And this is what we have, no? Come together to
07:38 say that as a customer, it doesn't matter whether your company has an empanel hospital or not. If
07:44 the hospital is empaneled anywhere, you just walk in to give your company a notice that I'm going
07:48 to have a surgery here and the company will be an endeavor to get you cashless, no? Irrespective of
07:53 where you're going. Sir, also, could you help us understand what are the sort of timelines that the
07:59 customer would have to inform, be prior if at all, and what would be the case in case of elective
08:05 surgeries, emergencies, how would these be addressed? I think these are questions that
08:10 our viewers would like. So if it's elective surgery, which typically is about 83-85% of
08:14 surgeries happening, then you just have to, which means that you are aware of the surgery happening.
08:19 So just give them your company 48 hours. I think within that, they will get you cashless. If it's
08:24 an emergency, obviously you can't give them 48 hours and you're just going to the hospital.
08:27 But within admission and within 48 hours of your admission, the company would endeavor to give you
08:32 cashless. I think that is what the timelines have been set up to begin with. But as we progress,
08:36 it will get shorter and shorter. Well, before we move on to the break, let's give you a quick
08:42 update from the Supreme Court. The apex court refused to entertain a plea by telecom giant
08:47 Airtel, seeking clarification in its order and asking the company to pay Rs. 112 crore to the
08:55 now defunct Aircel. As a consequence of the Supreme Court's call not to entertain the plea,
09:01 Airtel now chose to call off its application. And that was the update from Airtel and the
09:07 Supreme Court of India. Let's slip into a short break. Stay tuned. We have lots more lined up for
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13:50 Welcome back. You're watching The Reporter on NDTV Profit. Now let's move on to a major update
13:55 from the Indian banking system, liquidity deficit. Now this problem has been persistent in the
14:00 banking system for quite some time and everyone has been talking about it. In latest updates,
14:05 what we have for you is that the liquidity deficit in the Indian banking system is at a record high.
14:11 As of Wednesday, the liquidity deficit hit its peak due to the advanced tax outflow and the
14:16 slowdown in the government spending. Now if we look at the numbers from the RBI, this deficit
14:22 also stood at 3.46 lakh crore rupees on Wednesday and this is in comparison to 1.28 lakh crore
14:29 rupees at the beginning of January. To plug the shortfall now, the RBI has been injecting liquidity
14:35 through the variable repo rate auctions. On a net basis, if we look at the numbers, it has injected
14:40 liquidity averaging at 1.8 lakh crore rupees until Wednesday. It also conducted a 15-day
14:46 VRR auction worth 2.5 lakh crore rupees on Thursday. Now while this is expected to ease
14:53 the liquidity deficit somewhat, we will still know more as the fresh numbers come out.
14:58 Analysts overall who spoke to NDTV Profit expect the liquidity shortage to widen further if the
15:04 government spending does not accelerate. The government spending could be slow because they
15:09 might want to keep the fiscal deficit number below the 5.9% target for FY24.
15:15 Well, that was a short and quick update that we had for you from the Indian banking space.
15:22 Now we have my colleague Charu who caught up with CII Chairperson Ravneet Kaur.
15:27 She also spoke and gave us a quick wrap up about the entire event where she went.
15:31 Data protection is, you know, we have to look at it from two aspects. One is the personal data
15:39 protection which is something on which the Ministry of Electronics and IT has already come
15:44 out with the Personal Digital Data Protection Act. So that is something which falls within their
15:50 domain when you are talking about patterns and all. The Commission's interest is looking at
15:57 the data protection from the angle of data access, data analysis, data retention and storage
16:04 and its subsequent usage by third parties with a view to undertake any anti-competitive practices.
16:12 So our area is limited to that. And we are looking at, we have in fact been looking at various cases
16:19 especially in the big tech companies and there have been a couple of decisions which have been
16:23 taken by the Commission in the recent past and where we have penalized companies and we have
16:28 also asked them to undertake behavioral remedies. That was the CII Chairperson. Let's slip into a
16:35 quick short break once again. Stay tuned, we'll be right back.
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19:20 Welcome back, you're watching The Reporter on NDTV Profit.
19:29 A quick, a very important update coming in from Ola.
19:33 Now, Ola has named the former Unilever executive Hemant Bakshi as its new CEO.
19:38 My colleague Rishabh Bhatnagar is standing by with more on this.
19:41 Rishabh, now that's a very significant management reject that has happened at Ola.
19:46 What are you picking up and what does the company plan to do with this?
19:49 That's right, Prakriti.
19:54 Not just the CEO appointment, there's actually three very important developments coming out of Ola today.
20:00 I'll try to take the viewers through that one by one.
20:03 The first is, of course, the new CEO appointment.
20:05 This is a HUL, Unilever veteran rather, about 15 years at the company, moving into, head the Ola mobility business now.
20:15 So he'll be the CEO only for the ANI technologies, but not the Ola electric or the Criterium business.
20:23 The second important development coming out of Ola is that they've announced that they hit EBITDA level profitability in the mobility business in FY23.
20:33 But according to the filings I have sourced, their net loss is still around about a thousand and eighty two crores for FY23.
20:43 That's the second update. And the third update is that the company, the mobility business, ANI technologies, will now be reorganized into three major business units.
20:54 Those three will be the mobility, the commerce and the financial services businesses that they will now be focusing on.
21:02 So now the mobility business, what they're looking at is electrification of the entire line.
21:07 So first, they've already introduced two wheeler EVs that people can hail rides through.
21:15 That will slowly graduate to three wheelers as well as four wheelers.
21:19 They're also introducing a lot of premiumization to the mix.
21:23 So you'll have the Prime Plus subscription available in more parts of the country.
21:28 Apart from that, their commerce segment, you'll also see an integration with ONDC coming up.
21:34 So that's the important updates coming in from Ola today. Back to you, Prakriti.
21:38 Thanks so much for bringing us those updates. Quite significant management reject happening there at Ola.
21:44 And we'll have our colleagues bringing you more updates as and when it's possible.
21:47 And with that, it's also a wrap on this show.
21:50 But before we go, here's my colleague Malika Mishra with some key and very interesting facts on 26 January.
21:58 India will celebrate its 75th Republic Day on January 26th.
22:02 It's the day the constitution came into effect and the country ceased to be a dominion in the British Commonwealth of Nations and became a republic.
22:11 The five kilometre stretch of the Rajpath, now called the Kartavya Path, from Vijay Chowk to the major Dhyan Chand National Stadium,
22:18 will witness the Republic Day parade and cultural extravaganza, including an air show, marches by the armed forces,
22:26 and tableau by states and ministries displaying India's culture and achievements.
22:31 Let's look at some interesting facts about India's Republic Day.
22:34 One, the inaugural Republic Day procession in 1950 was conducted at the major Dhyan Chand Stadium, earlier called Irwin Amphitheatre.
22:45 Two, India's first president, Rajendra Prasad, hoisted the national flag.
22:50 Three, did you know who was the first chief guest at India's first Republic Day parade?
22:55 Indonesian President Sukarno.
22:58 Four, Pakistan Governor General Malik Ghulam Muhammad was the chief guest in 1955, the first time the parade was held in Rajpath.
23:09 Five, this year the chief guest is French President Emmanuel Macron.
23:14 This is the sixth time a French leader has been bestowed with the honour.
23:19 Six, this year's theme is Mother of Democracy and Developed India.
23:24 For the first time, the parade will be heralded by 100 women artists playing traditional musical instruments.
23:31 An all-women tri-service contingent will also march down the Kartavya Path for the first time.
23:37 Seven, a single reserve ticket to attend the Republic Day parade costs Rs. 500, while unreserved tickets are available for Rs. 20 each.
23:46 NDTV Profit extends greetings to its viewers on this occasion, wishing you all a very happy Republic Day.
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