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INTERVIEW: The CEO of the biggest startup in the used car e-tail explains why he is skipping the 2021 IPO frenzy

Cars24 founder, Kunal Mundra on skipping the recent IPO frenzy

Hitting a hattrick of 6’s to dazzle the crowd hasn’t been the only cool thing <keyword id="6354832" type="General" weightage="20" keywordseo="MS-dhoni" source="Orion">MS Dhoni</keyword> has been up to of late. The Indian cricketing legend continues to make waves off the pitch in many ways, one of which involves investing in interesting and impactful <keyword id="20067715" type="General" weightage="20" keywordseo="start-up" source="keywords">start-up</keyword> projects. His latest venture involves an undisclosed investment in <keyword id="20656950" type="General" weightage="20" keywordseo="electric-cycle" source="keywords">electric cycle</keyword> manufacturer <keyword id="20835176" type="General" weightage="20" keywordseo="EMotorad" source="keywords" meta.keywordsubtype="org" meta.entityname="EMotorad" meta.hostid="261" meta.entityid="EMotorad">EMotorad</keyword>. In addition to his financial backing, <keyword id="19896463" type="General" weightage="100" keywordseo="Dhoni" source="keywords">Dhoni</keyword> is set to serve as the <keyword id="21321553" type="General" weightage="20" keywordseo="brand-endorser" source="keywords">brand endorser</keyword> for the company, further solidifying his role in shaping its future direction. Expressing his excitement for this venture, Dhoni commented: “The future is in our hands. We are in an era where innovation plays a huge role in shaping sustainable solutions, and I’m a fan of new-age companies that build these. EMotorad stands at the forefront of shaping the future of mobility, and I am thrilled to be a part of this journey!” <keyword id="20835175" type="General" weightage="20" keywordseo="Kunal-Gupta" source="keywords">Kunal Gupta</keyword>, founder and chief executive of EMotorad, expressed confidence that MS Dhoni's association with the brand will significantly boost awareness and trust in the e-biking sector. He told ET: “There is no one better and more reliable than Dhoni who resonates with what our brand stands for, an avid biker himself.” <div type="twitter" handle="e_motorad" handlename="e_motorad" favoritecount="0" retweetcount="0" id="1776119471704608843"></div> This Pune-based startup now joins a growing list of startups that are part of Dhoni's diverse portfolio, which includes ventures spanning various sectors such as fitness, technology, automotive and digital solutions. As per The Economic Times, notable among his investments are Bengaluru-based fitness startup Tagda Raho, digital lending platform Khatabook, and Gurugram-based used car retailer Cars24. Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza and Sumedh Battewar, EMotorad has rapidly gained traction in the Indian e-cycle market, capturing a 65% share. With a focus on cutting-edge technology and strategic partnerships, the company aims to revolutionise transportation by offering high-quality and value-driven solutions. Back in November 2023, EMotorad demonstrated its growth potential by securing substantial funding worth Rs 164 crore in a Series B round led by Panthera Growth Partners. It has raised a total of $20 million in equity thus far. The company boasts a network of more than 350 dealers nationwide, along with over 10 experience centres. Despite its strong foundation in India, its reach spans across eight countries, demonstrating its global presence and influence. Offline dominance aside, EMotorad also leverages online platforms to reach a wider audience, including e-commerce giants like Amazon and Flipkart. In the fiscal year ending March 2024, EMotorad reported sales of Rs 140 crore, a notable increase from Rs 115 crore the previous year. Looking ahead to FY25, the company targets sales of Rs 270 crore, with approximately Rs 130 crore stemming from domestic markets and the remainder anticipated from regions like the US and Europe. With plans underway for a new factory and the development of innovative e-cycle designs, EMotorad is poised for further expansion. By diversifying its product range, expanding its market reach, and now partnering with one of the most beloved sporting figures in the country, the company is fully committed to solidifying its position as a leader in the evolving mobility landscape. (With inputs from The Economic Times)

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

AdPorts and Special Economic Zone on Thursday reported that its Profit After Tax or net profits during the just-concluded financial year 2023-24 grew by a whopping 50 per cent to Rs 8,104 crore. In 2022-23, they were at Rs 5,391 crore. During the fourth quarter January-March, the net profits grew 77 per cent to Rs 2,015 crore. Coming to the revenue from operations for the entire financial year and the fourth quarter, they grew 28 per cent and 19 per cent to Rs 26,711 crore and Rs 6,897 crore, respectively. 2023-24 has been a year of many new milestones for <keyword id="20038598" type="General" weightage="20" keywordseo="APSEZ" source="keywords" meta.keywordsubtype="org" meta.entityname="APSEZ" meta.hostid="261" meta.entityid="APSEZ">APSEZ</keyword> on both operational and financial metrics. <keyword id="20051210" type="General" weightage="20" keywordseo="Adani-Ports" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Ports" meta.hostid="261" meta.entityid="Adani Ports">Adani Ports</keyword> delivered 3x the India cargo growth rate and a record volume of 420 million tonne. "Clearly, the company's business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results, said Ashwani Gupta, Whole-Time Director and CEO, APSEZ. With incremental cargo volumes of 100 million tonne achieved in less than two years, Adani Ports is well poised to achieve 500 million tonne of cargo volumes in 2025, aided by the recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT (West Container Terminal) next year, said Gupta. "We continue to invest heavily in the business to drive growth, particularly in the logistics segment. Our newly launched trucking segment enables APSEZ to provide the last-mile connectivity solution to its customers. Our efforts towards sustainable business growth are well recognized in the top decile ESG rating from four global rating agencies," added Gupta. In 2023-24, APSEZ said it handled 27 per cent of the country's total cargo and 44 per cent of container cargo. Ten of its ports from the India portfolio recorded their lifetime high cargo volumes for the year. For 2023-24, the APSEZ Board has recommended a dividend of Rs 6 per share. This implies a payout of around Rs 1,300 crore for the company. A dividend is a reward that companies often provide to their shareholders, though it is not mandatory, from a portion of their earnings. APSEZ is the largest port developer and operator in India with seven strategically located ports and terminals on the west coast (Mundra, Tuna, Dahej, and Hazira in <keyword id="19906863" type="General" weightage="20" keywordseo="Gujarat" source="keywords">Gujarat</keyword>, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and eight ports and terminals on the East coast of India (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry). SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Adani Ports' net profits jump 50% in 2023-24, registers threefold cargo growth

<ul><li><keyword id="12751498" type="General" weightage="100" keywordseo="emotorad" source="Orion">EMotorad</keyword> has launched the <keyword id="16140434" type="General" weightage="80" keywordseo="desert-eagle" source="Orion">Desert Eagle</keyword> and <keyword id="3766382" type="General" weightage="80" keywordseo="nighthawk" source="Orion">Nighthawk</keyword> ultra-premium e-bikes in India.</li><li>The company has also launched the X-Factor lineup of affordable e-bikes.</li><li>The new e-bikes start from ₹24,999 and go up till ₹5,00,000.</li></ul>Pune-based electric vehicles (EV) startup EMotorad has launched two new ranges of e-bikes at an event today. The company has unveiled the Elite range, which includes the ultra-premium Desert Eagle and Nighthawk. The company has also launched the X-Factor range, which includes the X1, X2 and X3 e-bikes. The e-bikes are aimed at cities like Bengaluru and Gurgaon that are infamous for traffic congestion, especially during office hours. EMotorad has claimed that the e-bikes have been “Made in India”. “We are thrilled to be a forerunner in the premium e-bikes space in India. The striking concept with boosted performance and premium design makes it an exceptional choice for riders. Integrated with disruptive technology will further equip the rider with excellent agility and control in the journey of fitness and adventure,” said <keyword id="606894" type="General" weightage="50" keywordseo="kunal-gupta" source="Orion">Kunal Gupta</keyword>, co-founder and chief executive officer, EMotorad. <cmsannotation type="cmsannotation" annotationid="EMotorad Desert Eagle and Nighthawk price" comment="subhead" text="EMotorad Desert Eagle and Nighthawk price"><keyword id="16145893" type="General" weightage="50" keywordseo="emotorad-desert-eagle" source="Orion">EMotorad Desert Eagle</keyword> and Nighthawk price</cmsannotation> EMotorad has priced the Desert Eagle and Nighthawk at quite a premium. The Desert Nighthawk has been priced at ₹4,75,000 and the Nighthawk has been priced at ₹5,00,000. For context, the Ather 450X, one of the premium electric scooters is priced around ₹1,60,000. <cmsannotation type="cmsannotation" annotationid="Desert Eagle and Nighthawk specifications" comment="subhead" text="Desert Eagle and Nighthawk specifications">Desert Eagle and Nighthawk specifications</cmsannotation> Starting with the Desert Eagle, it comes with a 120 mm travel fork and is equipped with a Bafang 250W mid-drive motor that delivers 120 Nm of peak torque. The scooter features an aluminum frame which is durable and comes with a frame-integrated 17.5 Ah battery. It features SRAM shifting, Proven Motion Control damper and front and rear disc brakes. <div type="image" title="Nighthawk" msid="97137298" hostid="261" caption="&amp;lt;p&amp;gt;EMotorad Nighthawk&amp;lt;/p&amp;gt;"></div> The top-end Nighthawk comes with an aluminum frame with a 17.5 Ah battery. The e-bike comes with a 150 mm travel fork and is equipped with a 250W Bafang mid-drive motor that delivers 120 Nm of peak torque. The e-bike features fat tires with Tektro disc brakes at the front and rear. The Nighthawk is also equipped with Sram shifting. <cmsannotation type="cmsannotation" annotationid="EMotroad X1, X2 and X3 price" comment="subhead" text="EMotroad X1, X2 and X3 price">EMotroad X1, X2 and X3 price</cmsannotation> The X1, X2 and X3, which have been tagged as “economy e-bikes” are priced at ₹24,999, ₹27,999 and ₹32,999 respectively. <cmsannotation type="cmsannotation" annotationid="EMotorad X1, X2 and X3 specifications" comment="subhead" text="EMotorad X1, X2 and X3 specifications">EMotorad X1, X2 and X3 specifications</cmsannotation> The EMotorad X1, X2 and X3 feature steel frames and are equipped with detachable batteries. The e-bikes offer a range of up to 40 km based on the terrain and the rider’s weight. <div type="image" title="X2 EMotorad" msid="97137320" hostid="261" caption="&amp;lt;p&amp;gt;EMotorad X2&amp;lt;/p&amp;gt;"></div> All three e-bikes are equipped with 250W rear hub motors. While the X1 and X2 are equipped with a removable 7.8 Ah battery, the X3 features a frame-integrated 7 Ah battery. While the X1 offers a single level of pedal assist and 12 magnets, the X2 and X3 offer three levels of pedal assist and 12 magnets. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-nexon-ev-vs-mahindra-xuv400-price-range-and-features-compared/slidelist/97118201.cms">Tata Nexon EV vs Mahindra XUV400 – price, range and features compared</a> <a href="https://www.businessinsider.in/business/auto/news/auto-expo-2023-upcoming-electric-cars-and-bikes-in-india-in-2023/slidelist/96929819.cms">Auto Expo 2023: Upcoming electric cars and bikes in India in 2023</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-electric-scooters-in-india-in-2023/articleshow/96278794.cms">From Suzuki and TVS to Hero Electric: Here are some of the top electric scooters expected to launch in 2023</a>

Indian startup EMotorad launches e-bikes that range from ₹24,999 to ₹5,00,000

<ul><li>The company had raised $450 million in September 2021 and another $400 million now.</li><li><keyword id="4306161" type="General" weightage="20" keywordseo="cars24" source="Orion">Cars24</keyword> has also increased its valuation from $1.8 billion to $3.3 billion in the last three months.</li><li>The company plans to go for an IPO in the next 18-24 months, Cars24 India CEO told Business Insider.</li></ul>Cars24 has raised $850 million in 2021, which is<a href="https://www.businessinsider.in/business/news/byjus-swiggy-and-dream11-the-top-10-startup-deals-of-2021-that-raised-7-7-billion-overall/slidelist/88121451.cms#slideid=88121678"> as much as the capital raised by Dream11 this year</a>. Initial public offering (IPO)-bound PineLabs has raised $700 million this year, while ShareChat has raised $640 million. The Gurugram-based startup has also increased its valuation from $1.8 billion to $3.3 billion in the last three months, Cars24 has said. The latest round of fundraising by the Gurugram-based <keyword id="40524" type="General" weightage="20" keywordseo="used-car" source="Orion">used car</keyword> marketplace was a $400 million tranche led by Alpha Wave Global (formerly known as Falcon Edge Capital). Nearly $300 million of this capital was raised through equity, while the rest $100 million was debt. Prior to this, the company had raised $450 million in September 2021. Meanwhile, its peer <keyword id="1980082" type="General" weightage="20" keywordseo="cartrade" source="Orion">CarTrade</keyword> Tech Limited has lost 41% of its value since its listing in September 2021 [check] and its market value has fallen to ₹4,120 crore ($54 million). Here’s an <a href="https://www.businessinsider.in/business/startups/news/loss-making-cars24-is-worth-more-than-a-profitable-cartrade/articleshow/86158047.cms">explainer why the listed CarTrade</a> is trailing so far behind Cars24, which is also working towards an IPO. <div type="image" title="Used car marketplace Cars24 has raised as much as Dream11 this year to set up operation overseas" msid="88386009" hostid="261"></div> Cars24 will use the recently-raised capital to fuel its brand’s global expansion in the Middle East, Australia and Southeast Asia. Besides this, it also aims to further strengthen its foothold in India. “These markets are really a function of supply and demand. It was about, is there demand for used cars? Is it a crowded space in terms of players already in the use of space? And, we basically apply those filters to identify markets that we'd like to go up,” chief executive (CEO) of Cars24 India, Kunal Mundra, <a href="https://www.businessinsider.in/business/startups/news/used-car-startup-cars-24-not-in-a-hurry-for-ipo-like-droom-and-cartrade-com/slidelist/87743891.cms#slideid=87743912">had previously told Business Insider</a>. Vikram Chopra, global CEO of Cars24, highlighted that Cars24 has some aggressive plans for next year. Founded by Vikram Chopra, Gajendra Jangid, Ruchit Agarwal and Mehul Agrawal, Cars24 allows customers to sell their old cars as well as bikes through their omnichannel network. A consumer can simply book an appointment with any of the Cars24 branches, visit the branch and sell a car in a single visit. The branches are available across 106 cities in India — including Bengaluru, Delhi, Mumbai and Meerut. It competes with other automobile ecommerce platforms like publicly listed-CarTrade and private companies like Droom and CarDekho, which are valued over a billion dollars. While Droom is going for <a href="https://www.businessinsider.in/business/startups/news/droom-founder-explains-why-he-is-considering-a-us-ipo-and-where-he-intends-to-spend-the-money/articleshow/84917608.cms">an initial public offering (IPO)</a>, Cars24 plans to wait another 18-24 months. “In my mind, an IPO is always a means to an end, it is not an end by itself. The end goal for us is to really build the most incredible auto ecommerce company in the world. I think when the time is right, when we feel that it's the right time to go down that route, we'll look at it. That's kind of it's not a stake in the ground that we put,” Mundra said. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/how-do-rising-covid-19-cases-lead-to-a-fall-in-markets/articleshow/88385905.cms" data-type="tilCustomLink">Why is the stock market falling so sharply today?</a> <a href="https://www.businessinsider.in/business/startups/news/razorpay-is-now-the-most-valued-fintech-startup-in-india/articleshow/88382493.cms" data-type="tilCustomLink">Razorpay is now the most valued fintech startup in India</a> <a href="https://www.businessinsider.in/business/startups/news/razorpay-is-now-the-most-valued-fintech-startup-in-india/articleshow/88382493.cms" data-type="tilCustomLink">Razorpay is now the most valued fintech startup in India</a>

Used car marketplace Cars24 has raised as much as Dream11 this year to set up operation overseas

<ul><li><keyword id="4306161" type="General" weightage="20" keywordseo="cars24" source="Orion">Cars24</keyword> has raised a funding of $450 million from marquee investors of the startup ecosystem.</li><li>It is reportedly valued at $1.75 billion, followed by Droom with a $1.2 billion valuation.</li><li><keyword id="1980082" type="General" weightage="20" keywordseo="cartrade" source="Orion">CarTrade</keyword>, despite being profitable, has not been able to cross the billion dollar mark.</li></ul>Gurugram-based used cars marketplace Cars24 became a unicorn last year and raised some more money now despite piling up losses. Meanwhile, its competitor CarTrade Technologies, which is profitable and listed on the stock exchanges since August, continues to be valued at less than half the estimated valuation of Cars24. <div type="image" title="Loss-making Cars24 is worth more than a profitable CarTrade ⁠— here’s why" msid="86158018" hostid="261"></div> Analysts say this could have to do with who’s investing in both companies and the latter’s international presence. Nearly three weeks after its listing, CarTrade remains an underperformer even in the stock market whereas, last week, Cars24 raised more funding and raised its valuation to somewhere between $1.72 billion to $1.75 billion. On September 10, <a href="https://entrackr.com/2021/09/exclusive-cars24-raises-259-mn-at-around-1-75-bn-valuation/" data-type="tilCustomLink">eight marquee </a>investors of the startup ecosystem pumped in $258.6 million into Cars24, which had turned into a unicorn last year in November, after raising<a href="https://www.businessinsider.in/business/startups/news/cars24-is-indias-latest-unicorn-as-it-raises-200-million-from-dst-global-and-existing-investors/articleshow/79388631.cms"> $200 million</a> in a round led by DST Global. A unicorn, in startup purlance, is a company valued over a billion dollars. Cars24 was the first startup to cross the threshold in this segment of its operation. Later it was reported that the <a href="https://www.cars24.com/blog/cars24-raisesi-450-million-nearly-doubles-its-valuation-to-1-84-billion/" data-type="tilCustomLink">round aggregated up to $450 million</a>, of which $340 milion was equity investment while $110 million was raised in debt. The company was valued at 1.84 billion post this round. It is followed by Droom, which was recently<a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms"> valued</a> at $1.2 billion. Meanwhile, CarDekho is in advanced stages of talks to close a funding round with over $1 billion valuation. These were the investors who bet big bucks in Car24’s latest round. Kunal Khatter, managing partner at mobility-focused investment firm AdvantEdge, told Business Insider that private investors and retail investors value companies with different yardsticks. “Analysts in the public market are far more stringent on how they value and give recommendations for buy or sell, because they are answerable to the public.. On the private side, valuation is an outcome of what an incoming institutional investor thinks the company is going to be worth…” Khatter added. Ankur Bansal, co-founder of investment firm BlackSoil noted that the difference in revenue and scale of the companies has also resulted in the difference of valuations. However, valuations of public listed companies are considered as a benchmark because each analyst or firm can have different methods to value a business. Point of difference between CarTrade and Cars24 (Cars24 Services Private Limited). <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metrics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CarTrade </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cars24 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (in FY20) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹318.4 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,059 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax/(Loss) (FY20) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹31.2 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(₹277.18 crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">150 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Countries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India, Australia, UAE </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Founded by Vikram Chopra, Gajendra Jangid, Ruchit Agarwal and Mehul Agrawal, Cars24 allows customers to sell their old cars through their omnichannel network. A consumer can simply book an appointment with any of the Cars24 branches, visit the branch and sell a car in a single visit. The company has recently expanded to Australia and UAE. AdvantEdge’ Khatter also noted that these two businesses, Cars24 and CarTrade, may look similar on the outside but are in fact very different at their core which has led to difference in the valuation. CarTrade also owns other platforms like CarTrade, Carwale, CarTradeExchange, Shriram Automall, Adroit Auto, Auto Biz, and BikeWale. Majority of CarTrade’s valuation comes from its three assets: Carwale, commercial trucks platform Shriram Automall and inspection business Adroit Auto, Khatter added. The whole reason why CarTrade is profitable is because of Carwale, but again it's a classification that allows you to compare prices. The other two businesses are profitable too, but don’t generate a lot of revenue, Khatter said. “They are market leaders in all these spaces, but the problem with market leaders is that there is not much room to grow,” he said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CarTrade </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cars24 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New automobile sales </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Used car sales </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Commercial vehicles, farm and construction equipment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Online auction platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vehicles financing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Car inspection </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Cars24 has also positioned itself as US-based Carvana, an online dealer of pre-owned cars, which has a market cap of $27.7 billion. “This is why foreign investors are more comfortable giving that sort of premium to Cars24,” Khatter added. On the other hand, CarTrade doesn’t have any international presence. “The original CarTrade was a business-to-business car auction platform, which banks used to liquidate assets. That’s not a real value generator because the margin is very low. They are the market leaders in that, yes, but it's a very limited tank,” he added. ALSO WATCH: Droom founder Sandeep Aggarwal's interaction with Business Insider, where he talks about the company's surging valuation, upcoming IPO and expansion plans. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Update: Cars24 on September 20 announced that it raised $450 million, at a valuation of $1.85 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-infra-reliance-industries-zomato-and-other-top-stocks-to-watch-out-for-on-september-13/slidelist/86156619.cms">Reliance Infra, Reliance Industries, Zomato and other top stocks to watch out for on September 13</a> <a href="https://www.businessinsider.in/international/news/the-first-transgender-person-elected-bishop-in-a-major-christian-church-wants-to-inspire-hope-and-expand-peoples-minds-about-trans-people/articleshow/83528986.cms">The first transgender bishop in a major Christian church wants to inspire hope and expand people's minds about trans people</a> <a href="https://www.businessinsider.in/entertainment/news/superhero-movies-have-a-deep-connection-to-9/11-and-it-shows-how-nyc-and-disney-capitalized-on-our-collective-grief/articleshow/86116230.cms">Superhero movies have a deep connection to 9/11, and it shows how NYC and Disney capitalized on our collective grief</a>

Loss-making Cars24 is worth more than a profitable CarTrade ⁠— here’s why

Three unicorns, hundreds of crore in loss and very little market share — What's the hype around online car retailers?

Balancing discounts, resale values and launches is a complicated equation and you need to give it a serious think before buying a new car, feels ET... 
 
Motor enthusiasts always wait for December to upgrade their cars. Car manufacturers and dealers offer a host of exciting offers and attractive discounts to clear the inventory before the New Year to make space for new models with higher prices in the showrooms. With passenger car sales falling by 8% in November, the discounts are even better this year as dealers are trying their very best to clear the stock. 
 For example, <keyword id="47687" type="COMPANY" weightage="40" keywordseo="Nissan-Motors">Nissan Motors</keyword> is offering as much as 5.6 lakh off on the Teana and a discount of 40,000 on Micra. Maruti is offering a discount of 66,000 plus with four year free warranty on the A-star. <keyword id="596" type="CITY" weightage="40" keywordseo="Hyundai">Hyundai</keyword> is offering <keyword id="25450" type="UNKNOWN" weightage="40" keywordseo="savings">savings</keyword> of up to 48,500 on the diesel i20. Dealers are also pitching in with a few accessories or free <keyword id="35450" type="COMPANY" weightage="40" keywordseo="insurance">insurance</keyword> to further sweetening the deal. 
 
"A car depreciates in value by 10-12% every year. The extra discount would work in your favour if you plan to use the car for at least seven to eight years. If you change your car every two to three years, its better you wait for the new year," says Roshun Povaiah, of cartoq, an automobile website. 
 
Does it make sense to upgrade now? 
 
Well, the answer is a tricky one. It depends on factors like the discount offered, how long do you plan to retain the car, resale value of the car at at that time (cars value depreciate by around 10-12% every year), among other things. 
 Let us work with an example of <keyword id="45730" type="COMPANY" weightage="40" keywordseo="Maruti-A-Star">Maruti A-star</keyword> which is available for 4.71 lakh (on road price) in Mumbai. Currently, you could get a discount plus exchange bonus worth 66,000 as per dealers, which brings down the effective price to 4.05 lakh. If you sell this car in 2020, this 2013 model would approximately fetch a resale value of 1.94 lakh. 
 
Now, let us see what will happen if you wait for a few months to buy a 2014 model. The car will definitely command a better resale value of 2.50 lakh in 2020. However, despite the better resale value ( 56,000 more) it makes sense to buy the car in December because of the attractive discount ( 66,000). 
 
Nonetheless, if you plan to sell the in two or three years, this math may not work. Supposed you buy a Maruti A-star in December and sell it after three years. You will get 2.95 lakh for the car. If you buy the same car in 2014 and sell it in 2016, you may get 3.81 lakh. Here the difference is 86,000. So buying the car now is not a great idea. 
 
However, please note that it is not so simple to arrive at the resale value of your car. "The resale value is a combination of various factors, such as how much a car has run, the year of manufacture, fuel used, how well it has been maintained, how popular the car model is and the fuel efficiency," says Kunal Khattar, MD of Carnation Auto. 
 
Will prices go up in January? 
 Most car manufacturers hike prices and launch new models in January. With consumer price <keyword id="22195" type="COMPANY" weightage="40" keywordseo="Inflation">inflation</keyword> touching a high of 11.24%, there are chances that <keyword id="6371181" type="UNKNOWN" weightage="40" keywordseo="interest-rates">interest rates</keyword> could go up further. 
 However, experts believe companies may not be in position to go for steep hikes because of a sluggish <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword> and higher interest rates. 
 "With the <keyword id="6355302" type="ORGANIZATION" weightage="40" keywordseo="Rupee">rupee</keyword> depreciating by as much as 14% in calendar year 2013, manufactures are left with little choice other than hiking price," says Vinay Sanghi, managing director of <keyword id="1980082" type="UNKNOWN" weightage="40" keywordseo="Cartrade">Cartrade</keyword>, an automobile portal. 
 <keyword id="6361865" type="CITY" weightage="40" keywordseo="Volkswagen">Volkswagen</keyword> has already announced it will hike prices by 2.5% from January. 
 
So, if you are planning to buy a car next year, factor in a marginal increase in car prices.

December Is The Right Month To Buy Cars

<keyword id="20113876" type="General" weightage="20" keywordseo="Adani-Enterprises-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Enterprises Ltd" meta.hostid="267" meta.entityid="Adani Enterprises Ltd">Adani Enterprises Ltd</keyword>, the flagship incubator of billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword>'s conglomerate, on Thursday reported a 37 per cent drop in March quarter <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword>, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company. The firm, which incubates business from airports to data centres, reported an 8 per cent decline in EBITDA (earnings before interest, taxes, depreciation, and amortization) at Rs 3,646 crore in <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword>. While incubating businesses like new energy and airports showed strong momentum, the firm suffered a loss of Rs 201.83 crore in commercial mining, while the pre-tax earnings from the road business plummeted 84 per cent to Rs 222.03 crore. Also, its unit Mumbai International Airport Ltd (MIAL) recognised a one-time exceptional expense of Rs 627 crore to make up for past payments. Adani New Industries Limited (ANIL), a unit of the company that holds the new energy business -- including solar module and wind turbine manufacturing, saw a 6.2x growth in EBITDA to Rs 641 crore, while the same at airports business more than doubled to Rs 662 crore. The number of passengers at company-run airports rose 19 per cent to 88.6 million. Its revenue from operations was up at Rs 29,180.02 crore in the three months to March 31 from Rs 28,943.84 crore a year ago. For the full fiscal 2023-24 (FY24), net profit soared 31 per cent to Rs 3,240.78 crore. This is despite revenue from operations falling to Rs 96,420.98 crore from Rs 1,27,539.50 crore in 2022-23. Its consolidated EBITDA for FY24 increased by 32 per cent to Rs 13,237 crore that of incubating businesses grew by 47 per cent year-on-year. "<keyword id="20113873" type="General" weightage="20" keywordseo="Adani-Enterprises" source="keywords">Adani Enterprises</keyword> has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development," said Gautam Adani, Chairman of the Adani Group. "AEL's resilient growth model of incubation confirms the operational and organisational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders. We remain dedicated to corporate governance, meticulous compliance, robust performance and effective capital flow management." Giving an operational update, the firm said ingot and wafer units, which are used to manufacture solar modules that trap sunlight to produce electricity, are operational, while it has got orders for the manufacture of 254 sets of wind turbines. Its joint venture with EdgeConneX has one operational data centre in Chennai and construction in Noida and Hyderabad facilities is 81-88 per cent complete. It plans to build nine data centres with a total capacity of 1 gigawatt by 2030 to provide infrastructure for the booming digital services demand. Also, Adani started a copper unit in Mundra in March to foray into the metals business. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30e-with-5500mah-battery-launched-in-india-starting-at-27999/articleshow/109781103.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30e-with-5500mah-battery-launched-in-india-starting-at-27999/articleshow/109781103.cms" target="_blank">Vivo V30e with 5,500mAh battery launched in India starting at ₹27,999</a>

Adani Enterprises Q4 net falls 37%; incubating businesses show strong momentum

<ul><li>Shares of <keyword id="895682" type="General" weightage="20" keywordseo="Adani-Ports" source="Orion">Adani Ports</keyword> &amp; SEZ rose by 6% to ₹773 apiece on Tuesday amid a group-wide rally. </li><li><keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> <keyword id="6413000" type="General" weightage="80" keywordseo="ports" source="Orion">Ports</keyword>’ shares closed at ₹761 apiece on January 24 when the Hindenburg Research report was released. </li><li>The Adani group’s cumulative market capitalisation has increased by ₹1.96 lakh crore this week, so far. </li></ul>Adani group stocks are slowly but steadily recovering from the post-Hindenburg effects. The first amongst the equals is Adani Ports and SEZ which has seen its share price bounce back to pre-Hindenburg levels. Shares of Adani Ports &amp; SEZ rose by 6% to ₹773 apiece on Tuesday, which is higher than the closing price of ₹761 on January 24. That was the day US-based research <a href="https://www.businessinsider.in/stock-market/news/hindenburg-effect-last-9-days-wipe-out-gains-clocked-by-adani-group-in-2022/articleshow/97572328.cms">Hindenburg Research report</a> was first published, sparking off a group-wide selloff. The research firm had then said that it had taken short positions on the group stocks. However, by mid-market trade, the stock lost some of its momentum and is now trading at ₹746 apiece. On <a href="https://www.businessinsider.in/business/corporates/news/adani-companies-sc-appointed-panel-finds-no-evidence-of-regulatory-breach-by-adani/articleshow/100352920.cms">Friday</a>, a Supreme Court-appointed panel which was tasked to look into the public interest litigations filed in the Adani-Hindenburg row gave its report. The panel <a href="https://www.businessinsider.in/business/corporates/news/adani-companies-sc-appointed-panel-finds-no-evidence-of-regulatory-breach-by-adani/articleshow/100352920.cms">said</a> that it could not find any failure on the regulator’s part in the Adani-Hindenburg case. Since then, a <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-in-striking-distance-of-entering-the-top-20-richest-club-once-again/articleshow/100437220.cms">group-wide rally that has added ₹1.96 lakh crore</a> to the cumulative market capitalisation of the Adani group this week, so far. Adani Ports stock has been the most resilient in the Adani flock even when the market value of the group was melting. This company’s stock was amongst the slowest to fall and is the first group company to recover all its post-Hindenburg losses. <div type="image" title="Adani Ports share price 24_01_23 to 23_05_23." msid="100441802" hostid="261" sizebytes="18106" caption="&amp;lt;p&amp;gt;Adani Ports share price since January 24, 2023 to May 23, 2023&amp;lt;/p&amp;gt;"></div> While Adani Ports is the first group company to make a full recovery, Adani Power is close, too, with its shares now just 5% below the January 24 level. However, other group companies like Adani Total Gas and Adani Transmission have seen substantial declines of 81% and 69%, respectively, and still have a long way to go. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total decline since January 24 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Total Gas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-81% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-69% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NDTV </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ACC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ambuja Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr></tbody></table> Source: NSE, as on May 23, 2023 <cmsannotation type="cmsannotation" annotationid="Adani Ports is India’s largest port company" comment="subhead" text="Adani Ports is India’s largest port company">Adani Ports is India’s largest port company</cmsannotation> Adani Ports &amp; SEZ is India’s largest private port operator, handling a quarter of the country’s total port cargo, according to a report by ICICI Direct. “The company has evolved from a single port dealing in a single commodity to an integrated logistics platform,” the brokerage said in a report. In its FY23 business update,<a href="https://www.businessinsider.in/business/news/adani-ports-records-highest-ever-rail-cargo-of-over-120-mmt-in-fy23/articleshow/100297070.cms"> Adani Ports reported</a> a 9% YoY rise in its port cargo volumes in FY23 which stood at 339 million metric tonnes (MMT). “Adani Ports’ flagship port, Mundra, is outpacing all its closest rivals and continues to be the largest port in the nation in terms of volumes handled,” said Karan Adani, chief executive officer, Adani Ports &amp; SEZ. The Mundra port alone handled 155 MMT of cargo volumes during the year, with its roll-on roll-off handlings touching the highest-ever level of 2.09 lakh cars. Adani Ports currently has 12 ports in India, which include Mundra, Dahej, Tuna, and Hazira in Gujarat, Mormugao in Goa, and Dighi in Maharashtra on the west coast, and Dhamra in Odisha, Gangavaram, and Krishnapatnam in Andhra Pradesh, and Ennore, Karaikal, and Kattupalli in Tamil Nadu on the east coast. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-in-striking-distance-of-entering-the-top-20-richest-club-once-again/articleshow/100437220.cms">Gautam Adani in striking distance of entering the top 20 richest club once again</a> <a href="https://www.businessinsider.in/finance/banks/news/sbi-vs-bank-of-baroda-vs-canara-bank-performance-comparison-based-on-q4-2022-23-earning-reports/articleshow/100357639.cms">SBI vs Bank of Baroda vs Canara Bank: How India’s top PSU banks performed in Q4</a> <a href="https://www.businessinsider.in/stock-market/news/fpi-flows-into-indian-equities-hit-a-5-month-high-in-may/articleshow/100357453.cms">FPI flows into Indian equities hit a 5-month high in May, outlook ‘improved significantly’ say analysts</a>

First amongst equals: This Adani group stock completely recovers from the Hindenburg effect

<ul><li><keyword id="6354832" type="General" weightage="20" keywordseo="MS-Dhoni" source="Orion">MS Dhoni</keyword> forayed into the world of business by making major investments in various companies across sectors.</li><li>His investments include <keyword id="4610420" type="General" weightage="20" keywordseo="Garuda-Aerospace" source="Orion">Garuda Aerospace</keyword>, Khatabook, Cars24, and many more.</li><li>He has an estimated net worth of $111 million and featured among highest paid athletes in the world in 2015.</li></ul>After bidding a goodbye to international cricket, former Indian team skipper Mahendra Singh <keyword id="6397" type="General" weightage="100" keywordseo="dhoni" source="Orion">Dhoni</keyword> seems to have turned into a full-time startup investor. He now has interests in companies across sectors like auto, liquor, agricultural, clothing etc. His latest venture is into the world of drones as he invested an undisclosed sum in Chennai-based drone company Garuda Aerospace today. He has also become its brand ambassador. The company works in the agri sector and has 300 drones along with 500 pilots operating in 26 countries. <div type="twitter" handle="garuda_india" handlename="Garuda Aerospace Pvt Ltd" image="http://pbs.twimg.com/profile_images/1435499480695013376/O7KKwlM-_normal.jpg" favoritecount="41" retweetcount="20" status="The Helicopter has arrived 🚁 Captain Cool #MSDhoni makes a strategic investment in India's Largest Drone Startup… https://t.co/Fuq72WLmzK" createdat="1654500456000" id="1533712192670814208"></div> <cmsannotation type="cmsannotation" annotationid="One of India’s highest paid athletes" comment="subhead" text="One of India’s highest paid athletes">One of India’s highest paid athletes</cmsannotation> Dhoni has an estimated<a href="https://www.sportskeeda.com/cricket/ms-dhoni-net-worth"> net worth</a> of $111 million and is featured among the highest paid athletes in the world in 2015 — earning as much as $31 million. Apart from investments, he endorses 20 brands including TVS Motors, Ashok Leyland and Exide Batteries. It hence comes as no surprise that he is carefully growing his wealth by investing in various ventures — which are mostly startups. Here are some companies in which Dhoni has invested in — 1. Khatabook Dhoni became the investor and brand ambassador of the Saas-based ledger company in March 2020. It is an online platform for companies to keep a digital log of their financial transactions and accept payments online. The company claims that it had managed to clock in five crore registered merchants in just a year. 2. Cars24 He became a part of the e-commerce platform for pre-owned cars in 2019 by investing an undisclosed sum in its Series D round. He is also its brand ambassador. 3. <keyword id="6359801" type="General" weightage="20" keywordseo="Seven" source="Orion">Seven</keyword> Dhoni who is known for his personal style launched his own lifestyle brand popularly known as Seven, after his iconic jersey number 7. Reportedly, he just owns the footwear segment of the brand, while the rest of it is owned by RS Seven Lifestyle. He is also the global brand ambassador of the company he launched in 2016. 4. 7InkBrews The food and beverage company announced Dhoni as its brand ambassador and shareholder of the company last April. Adil Mistry and Kunal Patel, co-founders of the company launched a whole new range of chocolates and beverages under the brand Copter7, which was inspired by Dhoni’s famous helicopter shot and his jersey number. 5. Hotel Mahi Residency This one is one of the lesser known investments made by the cricket legend. Very few people know that Mahi owns a hotel as well named as Hotel Mahi Residency located in Ranchi, Jharkhand. 6. HomeLane Dhoni became an equity partner and brand ambassador of the home interior company last August. The agreement was signed for three years, however, no other details were disclosed. HomeLane, founded in 2014, is a platform that promises to deliver home interiors within 45 days. 7. <keyword id="14129080" type="General" weightage="50" keywordseo="sports-fit" source="Orion">Sports Fit</keyword> He also owns a stake in Sports Fit, which is a gym franchise located in multiple locations in India such as Delhi, Mumbai. As per media reports, he owns around 200 gyms under this brand name. The Ranchi-based hockey team, which replaced the defunct <keyword id="4931806" type="General" weightage="50" keywordseo="ranchi-rhinos" source="Orion">Ranchi Rhinos</keyword> in 2014, is also owned by Dhoni. Previously, it was owned by the Patel-Uniexcel Group. 8. Ranchi Rays The Ranchi-based hockey team, which replaced the defunct Ranchi Rhinos in 2014, is also owned by Dhoni. Previously, it was owned by the Patel-Uniexcel Group. 9. Chennaiyin FC He is the co-owner of the popular football Indian Super League (ISL), which is men’s football league, franchise Chennaiyin FC. The other co-owner is Bollywood actor Abhishek Bachchan. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/science/space/news/elon-musks-spacex-teases-next-gen-satellites-reveals-company-on-track-meet-goal-of-52-60-launches-this-year/articleshow/92040368.cms">Elon Musk's SpaceX teases next-gen satellites, reveals company on track meet goal of 52-60 launches this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/indias-central-bank-denies-reports-that-it-is-replacing-mahatma-gandhi-with-tagore-and-kalam-on-currency-notes/articleshow/92037998.cms">India's central bank denies reports that it is replacing Mahatma Gandhi with Tagore and Kalam on currency notes</a>

You Searched For "Kunal Mundra Cars24" and got 12 results

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