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In the early 20th century, most glass production happened in factories. Even individual glassblowers making their own personalized designs would do their work in those large shared buildings. The idea of "art glass", small decorative works made of art, often with designs or objects inside, flourished. Pieces produced in small production runs, such as the Lampwork figures of <keyword id="4370830" type="UNKNOWN" weightage="20" keywordseo="stanislav-brychta">Stanislav Brychta</keyword>, are generally called art glass. 
 By the 1970s, there were good designs for smaller furnaces, and in the <keyword id="6356955" type="COUNTRY" weightage="20" keywordseo="united-states">United States</keyword> this gave rise to the "studio glass" movement of glassblowers who blew their glass outside of factories, often in their own studios. This coincided with a move towards smaller production runs of particular styles. This movement spread to other parts of the world as well. And in India, you can now see a lot of work happening, thanks to a few dedicated artists who are passionate about glass. 
 
However India still lacks proper streamlining of the art form, be it through museum or workshops. Most artists have their own workshops where they work from and generally dependent on hospitality sector for commercial activities. 
 Modern works of glass art can be seen in a dedicated glass museums and museums of contemporary art. These include the <keyword id="4370833" type="UNKNOWN" weightage="20" keywordseo="chrysler-museum">Chrysler Museum</keyword> in Norfolk, Virginia, the <keyword id="4370832" type="UNKNOWN" weightage="20" keywordseo="museum-of-glass">Museum of Glass</keyword> in <keyword id="110951" type="COMPANY" weightage="20" keywordseo="Tacoma">Tacoma</keyword>, the Metropolitan Museum of Art, the Toledo Museum of Art, and Corning Museum of Glass, in Corning, NY, which houses the world's largest collection of glass art and history, with more than 45,000 objects in its collection. The Museum of Fine Arts in <keyword id="6368596" type="COMPANY" weightage="20" keywordseo="boston">Boston</keyword> features a 42.5 feet (13.0 m) tall glass sculpture, <keyword id="4370831" type="UNKNOWN" weightage="20" keywordseo="lime-green-icicle-tower">Lime Green Icicle Tower</keyword>, by <keyword id="319392" type="PERSON" weightage="20" keywordseo="Dale-Chihuly">Dale Chihuly</keyword>. In February 2000 the <keyword id="4370834" type="UNKNOWN" weightage="20" keywordseo="smith-museum-of-stained-glass-windows">Smith Museum of Stained Glass Windows</keyword>, located in <keyword id="6354604" type="COMPANY" weightage="20" keywordseo="Chicago">Chicago</keyword>'s <keyword id="4370836" type="UNKNOWN" weightage="20" keywordseo="navy-pier">Navy Pier</keyword>, opened as the first museum in <keyword id="20819" type="ENTERTAINMENT" weightage="20" keywordseo="America">America</keyword> dedicated solely to stained glass <keyword id="6354717" type="ORGANIZATION" weightage="20" keywordseo="Windows">windows</keyword>. The museum features works by <keyword id="1036527" type="PERSON" weightage="20" keywordseo="Louis-Comfort-Tiffany">Louis Comfort Tiffany</keyword> and <keyword id="4370835" type="UNKNOWN" weightage="20" keywordseo="john-lafarge">John Lafarge</keyword>, and is open daily free to the public. 
 
In India, here are the leading glass artists who are pushing the glass ceiling: 
 
(Image credit: Glass Sutra by Reshmi Dey. Sourced from the artist)

These artists are re-inventing the contemporary glass art in India

<a href="http://www.businessinsider.in/searchresult.cms?query=Birla+Corporation+">Birla Corporation</a> announced on Monday that it would acquire two cement units of <a href="http://www.businessinsider.in/searchresult.cms?query=Lafarge+">Lafarge</a> India in <keyword id="6360371" type="COMPANY" weightage="80" keywordseo="Jharkhand">Jharkhand</keyword> and Chattisgargh. These units would be sold through a slump sale for an enterprise value of Rs 5,000 crore. 
 The French company has decided to sell its units to conclude its mega global merger with <keyword id="1763424" type="COMPANY" weightage="60" keywordseo="Holcim-Ltd">Holcim Ltd</keyword>, reported the Economic times. 
 
The transaction would be funded through existing cash reserves and incremental debt, and is subject to approval of <a href="http://www.businessinsider.in/searchresult.cms?query=Competition+Commission+of+India">Competition Commission of India</a>. 
 <keyword id="62363" type="COMPANY" weightage="80" keywordseo="Birla-Corp">Birla Corp</keyword> will acquire an integrated cement unit at Sonadih, a cement grinding unit at Jojobera, along with Concreto and PSC brands. The plants have a total cement capacity of 5.15 million tonnes per annum (mtpa). 
 
"The acquisition business has a demonstrated track record of operational and commercial excellence with profitability amongst the highest in the industry aided by raw material linkages, strong distribution networks and excellent brand loyalty in the attractive Eastern India <a href="http://www.businessinsider.in/searchresult.cms?query=cement+market">cement market</a>," the company said in a statement. 
 
After the completion of this <a href="http://www.businessinsider.in/searchresult.cms?query=transaction">transaction</a>, Birla Corp will consolidate its position in the east where demand supply scenario and outlook continue to remain buoyant. 
 Birla Corp, established in 1919, is part of the <keyword id="142702" type="COMPANY" weightage="40" keywordseo="MP-Birla-Group">MP Birla Group</keyword> with presence across cement and jute; cement constitutes over 90% of the company's revenues with a total operational cement capacity of 10 mtpa, it has units in Rajasthan, <keyword id="6355554" type="COMPANY" weightage="60" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, Uttar Pradesh and West Bengal. 
 
After the transaction, Birla Corp will have a total capacity of 15 mtpa. With addition of these brands to its existing basket of brands, Birla Corp will derive synergy benefits through consolidation of its capacity. 
 
Harsh Lodha, Chairman of Birla Corp, said: "I am very pleased to announce this very important transaction in Birla Carp's history. The business together with the Concreto and PSC brands, perfectly fit into our strategic vision and ambition of enhancing our competitiveness in our chosen markets. I am glad to welcome new talent and leaders to our Group, who share our convictions and professional culture. 
 
(Image: Indiatimes)

Birla Corp goes shopping for Rs 5, 000 crore

Shares of <keyword id="142701" type="COMPANY" weightage="100" keywordseo="Birla-Corporation">Birla Corporation</keyword>, a mid-sized cement maker, hit their highest level in 7 months after the commodity maker said it was acquiring two units that will boost its capacity by a third. Birla Corp said it had purchased two cement units in eastern India from <keyword id="1387069" type="COMPANY" weightage="100" keywordseo="Lafarge-India-Pvt-Ltd-">Lafarge India Pvt Ltd.</keyword> for an enterprise value of 5,000 crore rupees. Birla said the transaction will be funded by existing funds and incremental debt. The two units will add 5.15 million tons of fresh cement capacity to Birla Corp's existing 10 million tons per annum. As a consequence, Birla Corp surged 39.50 rupees, or 8.7 percent, to 493 rupees on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>, where 66,300 shares were traded in the first hour of trade compared with a 5-day average of 48,590 shares. 

	Birla Corp's market capitalisation has fallen 7 percent to 3,773 crore rupees in the past one year as the sector suffered from sluggish demand. The stock is trading at 1.32 times book value of 342 rupees.

	 
	 
	(Image credits: Indiatimes)

Shares of Birla Corporation doing well in the markets today

<ul><li>Nuvoco Vistas is looking to raise ₹5,000 crore through a fresh issue of shares worth ₹1,500 crore and an offer for sale by promoters worth ₹3,500 crore.</li><li>With the net proceeds the company looks to repay borrowings worth ₹1,350 crore.</li><li>In terms of manufacturing capacity, it is the fifth largest cement company in India and the largest cement company in east India. </li></ul>Nuvoco Vistas Corporation, a Nirma Group company, has received the regulator’s nod for issuing an initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>). The company is looking to raise ₹5,000 crore through IPO, as per the draft red herring prospectus (DRHP) filed by the company on May 9, 2021. The IPO comprises a fresh issuance of shares worth ₹1,500 crore and an offer for sale worth ₹ 3,500 crore by the promoter. In terms of its manufacturing capacity, Nuvoco Vistas -- formerly known as Lafarge India Limited -- is the fifth largest cement company in India and the largest cement company in east India, as per the DRHP filings. It also is one of the leading ready mix concrete manufacturers in India and has grown from being a cement focused entity to now a building materials company offering more than 50 products across cement, ready mix concrete and modern building materials sold under well-established brand names such as Concreto, Duraguard, Double Bull, ZeroM and Instamix. With the net proceeds the company looks to repay some of its borrowings worth ₹1,350 crore. The company believes that the central government’s focus on roads, railways, urban infrastructure and irrigation will boost infrastructure investments. The share of cement demand of the infrastructure segment is expected to increase from 23% to 25% in FY21 to 25% to 27% in FY26, as per DRHP filing. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹6,793 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹7,052 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹6,855 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit/Loss </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹249 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ (26 crore) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹87 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net worth </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹5,279 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,988 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 4,823 crore </td></tr></tbody></table> The company has five integrated plants, five grinding units and one blending unit across north and east locations. However, the company sells in west and central regions as well due to close proximity of these plants with the regions. The company has a pan India market share of 4.2%, whereas it is more dominant in the eastern region with a market share of close to 17%, in terms of capacity on a consolidated basis as of December 2020. In north India, it has 5% market share in terms of capacity, according to DRHP filings. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/pizza-hut-kfc-costa-coffee-operator-devyani-international-is-coming-with-new-ipo-in-india/articleshow/84575084.cms">Pizza Hut, KFC, Costa Coffee operator Devyani International to raise an estimated ₹1,400 crore through IPO </a> <a href="https://www.businessinsider.in/business/news/india-has-added-36191-new-companies-between-april-to-june-this-year/articleshow/84575166.cms">India has added 36,191 new companies between April to June this year </a>

Cement manufacturer Nuvoco Vistas Corp to raise ₹5,000 crore through IPO

<ul><li>According to Forbes, Damani added $5.3 billion to his fortunes which now stand at $16.4 billion. </li><li>If Damani takes over India Cement, he is said to get richer as the share price of India Cement has surged more than 92% this year — taking its market value to $555 billion. </li><li>Moreover, 74-year old Damani will then own 8 listed stocks including <keyword id="6420044" type="UNKNOWN" weightage="20" keywordseo="D-Mart">D-Mart</keyword>, Delta Corporation and Simplex Infrastructure. </li></ul>The 74-year old Radhakishan Damani, India’s second richest person and the owner of Avenue Supermart, has informally shown interest to take over India Cement. The retail king and his family have been buying shares of <keyword id="131875" type="COMPANY" weightage="20" keywordseo="India-Cements">India Cements</keyword> for quite a while now — increasing their holding to nearly 20%, as of March 31. Damani is the founder of Avenue Supermarts — the retail company which runs D-mart stores in India. The chain offers basic home and person use products, groceries, home appliances, garments and more at a bargain. He is among the only three billionaires in India whose wealth rose between March 2019 and March 2020. <div type="Article" hostid="261" msid="75119106" title="Half of all D-Mart stores are shut during coronavirus lockdown⁠— it shows that even the best in business are struggling" mstype="2" mssubtype="0"></div> According to Forbes, Damani added $5.3 billion to his fortunes which now stand at $16.4 billion. He added $2.5 billion in three months between January and March — making him the second richest person in India after Mukesh Ambani. His net worth doubled during the lockdown. Damani was worth $11.1 billion at the end of 2019, according to Forbes real time net worth index. He catapulted into one of the top 10 richest after a blockbuster IPO listing of Avenue Supermarts in 2017. After its debut, the share price of Avenue Supermarts increased more than three times the listing price (₹616). Its current market capitalization is around ₹1.5 lakh crore. If this deal goes through, Damani is said to get richer as the share price of India Cement has surged more than 92% this year — taking its market value to $555 billion. Damani's stock portfolio is not limited to D-Mart. Damani’s stock portfolio <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Delta Corp </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;">VST Industries </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;">Simplex Infrastructure </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;">Foods &amp; Inns </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;">India Cement </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;">Spencer’s Retail </td></tr></tbody></table> <a href="https://economictimes.indiatimes.com/markets/stocks/news/radhakishan-damani-said-to-mull-taking-control-of-india-cements-shares-up-10/articleshow/76417676.cms">According to Economic Times</a>, Damani’s control over India Cement will also help India Cement face rivals like UltraTech Cement, Lafarge Holcim Ltd. See also: <a href="https://www.businessinsider.in/business/news/the-impact-of-coronavirus-carnage-on-radhakishan-damanis-portfolio/articleshow/74661795.cms">The impact of coronavirus carnage on Radhakishan Damani’s portfolio</a> <a href="https://www.businessinsider.in/business/news/azim-premjis-generosity-crashed-the-wealth-of-indian-billionaires-by-16-billion/articleshow/75058443.cms">This man’s generosity crashed the wealth of Indian billionaires by $16 billion</a>

DMart owner Radhakishan Damani added more than $5 billion to his wealth in a year — and the billionaire now wants to take over India Cements

<ul><li>As per the report, 2019 saw a healthy 17% growth in the overall <keyword id="933048" type="PERSON" weightage="20" keywordseo="Sports-sponsorship">Sports Sponsorship</keyword> market in India with the value crossing the mark of ₹9000 crore or $ 1286 million for the first time ever.</li><li>57% of the total Sports Sponsorship Industry was on account of media spends, which delivered ₹800 crore. </li></ul>ESP Properties- the entertainment and sports division of <keyword id="1601118" type="COMPANY" weightage="20" keywordseo="GroupM-India">GroupM India</keyword> today released the 2020 report on sports sponsorship in India. Overall growth in Sports Sponsorship at a healthy 17% where the Sports Sponsorship Industry crossed the INR 9000 Crore mark in 2019. 2019 was the year for Cricket and dominated the sports advertising sector unanimously. IPL &amp; ICC World Cup gave a push in both, On-Ground Sponsorship and Media Spends. On-ground Sponsorship grew by 25%, for the first time, crossing INR 2000 Crore mark. Overall industry upsurge was INR 1347 crore of which INR 800 crore was contributed by media spends alone growing at 18%. Digital shot up by a whopping 84% from INR 475 crore to INR 875 crore.. While TV continues to grow as the biggest medium for ad spends in sports, brands are also having a clear digital plan along with a presence on TV to build a rapport with their consumers by reaching out to them in more ways than one. Engagement and interactivity are important elements of consumer marketing, and digital technology can be leveraged well to give differentiated solutions to sports lovers. 2019 also saw fantasy sports applications growing fast as advertisers and this traction will be carried forward into 2020 also with new experiences for the Indian sports fan. BCCI home series deals saw double the jump in sports sponsorship amounts. Paytm’s bid was at 58% incremental value in comparison to the previous per match value. Dream11, Lafarge Holcim (ACC Cement and Ambuja Cement), Hyundai will be the official sponsors for the next four years. At INR 2.59 Crore per match, the three sponsors will layout 73% more than the previous round. 
	
 
 
 <div type="image" title="Media Spend_infographic 1" msid="74590492" hostid="261"></div>







 <keyword id="345370" type="PERSON" weightage="20" keywordseo="Vinit-Karnik">Vinit Karnik</keyword> - Business Head, <keyword id="3199196" type="PERSON" weightage="20" keywordseo="ESP-Properties">ESP Properties</keyword> said, “Indian sports industry is on an upward trajectory breaking new grounds year-on-year. While cricket proved its dominance in 2019, overall the last 5 years the industry has doubled its size. If we look further, we can see a strong CAGR of 12.8% in the business of sports over the last 10 years, making it one of the strong pillars of the Indian economy. With the sports industry growing at 17% in 2019, the momentum on sports with added thrust from the government provides a holistic opportunity for the sector. Initiatives like Khelo India and Fit India movement are drivers towards making India a truly sporting nation.” Prasanth Kumar, CEO of GroupM South Asia said, “Over the last decade, we have witnessed the growth of sports leagues and their gaining popularity across the country. The sports industry has been growing and has witnessed a significant upward shift in the overall ad spends. The passion and excitement that’s involved in this platform have only strengthened. We see more and diverse audience indulging with this platform. Many innovations and leverage of assets in this space are powerful opportunities. As we are unfolding another decade, we see this space to be providing powerful thrust for greater brand stories.” The endorsement industry grew by 11% where cricketers contributed the most yet again validating the point that sports leagues and celebrity endorsements go hand in hand. In 2019, 70 new brand endorsement deals had happened. 50 out of 70 endorsements were done by cricketers. While 85% of total brand endorsements have come from cricketers, Virat Kohli and MS Dhoni pulled away 63% of the total brand endorsements. A total of 329 endorsement deals took place out of which 228 brands signed up with cricketers. The non-cricketing space was dominated by women athletes. Badminton queen P V Sindhu was the leading non-cricketing athlete in 2019 in terms of brand endorsements. While Sindhu added four brands to her portfolio, the most notable one among them was her tie-up with VISA that made her the first Indian athlete to endorse the financial services brand. 
	
 
 
 <div type="image" title="Sports Industry Data_Infographic 1" msid="74590451" hostid="261"></div>







 Mary Kom was another prominent name in the list of brand endorsers. While she brought glory for India at international Boxing events, she also added four brands to her tally. Adding to their list of brands were track &amp; field sensation Hima Das and Olympic Medallist Sakshi Malik too. All the women athletes added 11 new brands in 2019 takes the tally to 45 from 34 in 2018.

Indian Sports Sponsorship crossed ₹9000 crore in 2019; 57% came from media spends: GroupM’s ESP Properties

Indian shares closed nearly 2 percent lower, falling below a crucial support level, as a panic-induced sell-off in China hurt domestic sentiment on Dalal Street.
 The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> fell 154 points to end the day at 8,356, substantially below the important 8,420 support level. All 50 shares on the Index ended in losses. Metal stocks lead the losers' brigade as fears of a Chinese slowdown pushed them to fresh lows. The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> fell 484 points to close at 27,688. Metal stocks, already reeling at multi-year lows, took another punch on their face as the world's biggest consumer of all things mineral and metal -- China -- went through a strong bout of volatility. Vedanta plunged 9 percent in trade. SAIL, Hindalco, NMDC, <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword> and stocks belonging to the <keyword id="179674" type="ORGANIZATION" weightage="100" keywordseo="Jindal-Group">Jindal group</keyword> posted heavy losses. Chinese stocks markets closed 5 percent lower in trade today after a series of government initiated measures failed to stem a growing tide of foreigner-led equity sales in the world's second largest market. Chinese stocks are down more than 30 percent since the start of June on fears of excessive valuations and a possible slowdown in <keyword id="35050" type="CITY" weightage="100" keywordseo="gdp">GDP</keyword> growth. A classic Ripple Effect is happening in China as panicked investors head for the exit in droves. 

	Within the commodities space, underlying metals are in a severe bear market: Copper and Aluminium are trading at 6-year lows. The forward premia on Aluminium have halved to $150/T in global markets as fears of a slowdown in demand.
 Meanwhile, <keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword> hit a fresh 52-week low as fears of an impending slowdown in China, its main market for JLR cars, caused a fresh sell-off. 

	Yes Bank plunged 7.3 percent after a report by global brokerage UBS cut its price target to 740 rupees from share from 1,000 earlier.
 However, there were some stocks that bucked the bearish trend: Airline companies enjoyed the bounce as prices of Crude oil, fuel constitutes up to 50 percent of Airline costs, hit 3-month lows. Both <keyword id="6358200" type="CITY" weightage="100" keywordseo="Jet-Airways">Jet Airways</keyword> and Spice Jet saw positive movement. 

	Crompton Greaves posted modest gains on media reports that the company stuck a large deal to supply electrical motors to cement giant Lafarge.

	 
	 
	(image credits: emergingequity)

The Chinese stock crash is hurting India in more than one way

French transport company <keyword id="48503" type="COMPANY" weightage="20" keywordseo="Alstom">Alstom</keyword> wants to double its business in India for which it is now eying Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s initiative. The multi-national company is looking forward to double its businesses across India to 800 million Euro (Rs 5,700 crore) in next three years. 
 
With plans to furnish the German market from India, Alstom is opening a new factory in Coimbatore this year. "Things were not as rigorous on the implementation of projects till some time ago," said Henri Poupart-Lafarge, president, Alstom Transport. “The business environment in India has improved over the last year," he added. 
 
As per a report published in the Economic Times, the company currently employs 800 engineers and for the next three years, the firm plans to hire 200 new engineers every year. For Alstom, India is the only country where it has a complete supply chain from design to manufacturing sourced locally. 
 
Apart from this, the French MNC is also looking forward to introduce its elevated tramway technology Axonis into India. Axonis doesn't need tracks but runs on cables and has been pitched to various state governments, including Uttar Pradesh, said the recent report. 
 
As part of its India expansion, Alstom also plans to partner Indian Railways in power supply and locomotives and has bid for the electrification and signaling contract already for the Khurja-Bhaupur (343 km) section of the Eastern Corridor.

French MNC to double its business under the ‘Make In India’ umbrella

<ul><li><keyword id="82914" type="General" weightage="60" keywordseo="cement-sector" source="Orion">Cement sector</keyword> looks at consolidation as large players look at increasing market share through M&amp;A.</li><li>Smaller manufacturers may find it hard to compete against big integrated groups like <keyword id="76451" type="General" weightage="80" keywordseo="adani" source="Orion">Adani</keyword> that can sharply lower production costs.</li><li>Adani Group looks to increase <keyword id="6378916" type="General" weightage="100" keywordseo="cement" source="Orion">cement</keyword> capacity from 67.5 MTPA to 140 MTPA by 2028.</li><li>as big boys out TO buy marketshare</li></ul> The cement industry is headed for a lot of action in the coming years because the big boys of the sector are on the prowl. When the second largest cement manufacturer announces that it wants to increase capacity from 67.5 million tones per annum (MTPA) then it is clear that the name of the game is acquisition. After announcing the acquisition of Sanghi Cement from Ravi Sanghi and family by <keyword id="105382" type="General" weightage="50" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword>, <keyword id="1033941" type="General" weightage="80" keywordseo="Karan-Adani" source="Orion">Karan Adani</keyword>, son of billionaire Gautam Adani, said: “Ambuja’s goal is to take capacity to 140 MTPA by 2028 is well on track and with this acquisition (Sanghi Cement) it will be achieved ahead of time.” After <keyword id="75756" type="General" weightage="50" keywordseo="holcim" source="Orion">Holcim</keyword> sold its cement business in India to the Adani Group, it was apparent that the sector was headed for a shakeout. A decade ago, the sector was battling low utilisation levels due to overcapacity and now consolidation is underway as JSW Group, <keyword id="54253" type="General" weightage="50" keywordseo="ultratech" source="Orion">Ultratech</keyword> and Adani-controlled ACC and Ambuja Cements look at dominating the sector. Given that power and logistics are the largest components of any metals and materials business, it makes sense for the Adani Group to cement business as logistics and power are the two big costs in this business. Mergers and acquisitions in the cement sector have gained steam again, with multiple assets exchanging hands post Adani-Holcim deal last May, says Jefferies. The foreign investment research firm, says: “Notably, acquirers have avoided overpaying for assets (with the last two deals at $70-75/t). With top players wanting to maximise capacity share amid healthy growing demand, a rush of expansions and M&amp;As should continue to re-shape the industry. Through M&amp;A, buyers add readymade capacity, scale, faster access to markets, and reserves.” While acquisition of Holcim’s India cement business was a big deal, there have been many smaller deals too in the space. Some others that got acquired include Century, JPA, Lafarge, Reliance Cement, while others like Binani, Kalyanpur, Murli went through the NCLT process before changing hands. Market is abuzz with news of some other listed cement players looking at merging with the bigger players, as competitive intensity is set to increase. With infrastructure major like the Adani Group using its other businesses to support the cement business, cost of production will come down. In fact, Adani Group CFO Jugshinder Singh has talked in the past of ACC and Ambuja becoming the lowest cost producers of cement in India. Given that India is seeing a boom in infrastructure, consumption of cement will increase and if existing players were to create new assets or greenfield assets then it would take them at least 5-7 years. With acquisition the journey can be drastically cut shot and market share gains can come overnight. Investment bankers say that the smaller regional cement players would look at exiting the sector and sell out in the face of tough competition from bigger and more efficient players like the Adani Group. While acquiring Sanghi Cement, Karan Adani said that the group’s vision was to produce lowest cost clinker in the country at Sanghipuram and then transport clinker as well as bulk cement through coastal route to the market of Saurashtra, South Gujarat, Mumbai and Mumbai Metropolitan region, Karnataka and Kerela. He added: “Synergy with the assets of Adani ports will help us accelerate in the implementation of this strategy. With the right implementation we are very confident that we would be the lowest cost supplier of cement in all these markets.” It would be hard for any small regional player to compete with such backward linkages and keep costs low.

Smaller cement players likely to sell out as big boys out to buy market share

<ul><li>Known for wearing his heart on his sleeves, Virat Kohli is always batting for sixes when it comes to marketing and brand endorsements.</li><li>As per Duff &amp; Phelps, a Kroll business, his brand value also remained steady at $237.7 million in 2020.</li><li>With the ongoing Indian Premier League, we talk to experts to find out what makes Royal Challenger Bangalore’s Captain Virat Kohli Indian brands favourite endorser.</li></ul>Virat Kohli, the flamboyant Indian skipper who enjoys a massive fan base across the globe, has not only emerged as one of the most gifted cricketers on the field, he is also India’s favourite brand endorser off the field. Known as the ‘run and the record machine,’ Kohli retained his top position for the fourth time in a row in Duff &amp; Phelps’ ranking with a brand value of $237.7 million in 2020. In the brandverse, he has beaten the Khans and left the whole Bollywood far behind in the last four years. He is the only sports celebrity on the top 10 list this year. Even during IPL commercial breaks, he is one of the most visible faces on television with more than 17 brands in his kitty. As per IPLomania, a syndicated study from Hansa Research, Kohli is one of the most highly-rated players in the IPL. His popularity across performance parameters, as well as image attributes, have already surpassed those of Dhoni who has unequivocally been the biggest star in the IPL over the years. India is a country that worships cricket. IPL brings a great opportunity for brands to connect with their consumers and it is during this extravaganza that celebrity endorsements see a spike on television. According to TAM Sports-IPL 13 Advertising Report, the total number of celebrities seen in ads during the IPL went up by 92% for the first four live matches, as compared to the 2019 edition. The demand for cricket celebrities is also increasing over the years. The report further stated that IPL 2020 witnessed 18 sports celebrities in ad films during the first four matches. In 2019, only four sports stars were seen during the same duration. Kohli was the second most visible celebrity during IPL season 13, contributing 16% to the ad volume. As per media reports, Kohli is also the highest-paid athlete and apart from cricket, he earns a majority of his net worth from brand endorsements. Duff &amp; Phelps and Hansa Research told us that Kohli is expected to earn around Rs 10-12 crore or $20 million per endorsement on an average. So, what makes Kohli so popular? N. Chandramouli, CEO, TRA Research said, “Virat Kohli has established his credentials with panache in his earlier cricketing innings and the seeds of his popularity lies in that. His records in today’s day of fast cricket are quite commendable too. Though he has among the lowest percentage wins as Captain of any league team, his personal performance has been extremely good and makes him desirable as a brand ambassador. The value of Virat is linked to RCB victories, but a cricket celebrity is no longer just limited to the game, and his versatility has been useful for him. While Virat has a few more cricketing years left, other talents like Devdutt Padikaal are emerging, and as we know NILF (Nothing In Life is Free), so as long as Virat continues to score in the game, he will score with the brands and fans.” “He has emerged as the primary choice of product brands to engage and attract consumers. Not only has Kohli amazed the audience with his professional laureates, his personal life has also always been in limelight. Be it his strict fitness regimen or his ‘family man’ image, many product brands have associated with Kohli to capitalize on the perception he has created over the years. Even though he may not perform at the top on the cricket field at times, he is still the most loved celebrity in the brand verse owing to the additional qualities and quirks he brings to the table, which resonates well with the product’s brand image,” said Aviral Jain, Managing Director, Duff &amp; Phelps. Kohli represents brands across categories, as mentioned below in Duff &amp; Phelps 2020 report. Some notable endorsements signed by Virat Kohli include Great Learning, iQOO, Iqoo Smartphones, Lafarge, Max Life Insurance and Vizecare. Additionally, he has been endorsing brands like Colgate, Google, Hero, Puma, Vicks, etc. He was also recently appointed as the brand ambassador by IPL’s title sponsor Vivo. Telling us what inspired the brand to choose Kohli amongst other IPL team captains, Nipun Marya, Director - Brand Strategy, vivo India said, “Cricket in India is not just a sport. It is an emotion that binds the nation together. Virat Kohli steers this passion for the sport well through his commitment and winning mentality. When it comes to making the real difference in a Cricket match, Virat is the undisputed king. His strong character on the field and captivating charm make him bring joy to millions of cricket fans worldwide, making Virat a perfect choice for vivo. The idea behind associating with a sports youth icon like Virat is to better connect with our consumers. With Virat Kohli's association, we aim to reach the millennials and technologically driven consumers, the key audience for us." Brand Endorser, another syndicated study by Hansa Research, validates Kohli’s celebrity status. A comparison of ‘Celebrity Scores’ across various parameters – Recognisability, Personality, Persuasiveness, and Likeability – puts Kohli in the same bracket as Amitabh Bachchan, Shahrukh Khan, Shahrukh Khan, and Mahendra Singh Dhoni, some of India’s most bankable celebrity endorsers. Comparing Kohli with other cricketers, V. Sudarshan, – CMO and SVP, Hansa Research said, “Virat Kohli is one of the most expressive cricketers, be on the ground or during interviews. Tendulkar was a Cricketing God for a nation that had hardly seen any sporting personalities as heroes that had a global reverence. Dhoni was a small town railway employee asserting himself by winning the world cup. Virat did neither, but has managed to become a modern role model for a new India that is unapologetically assertive and fiercely independent. In terms of performance on the field, both Tendulkar and Dhoni were superlative in their own right. This was a vital factor in their stardom and the resulting marketability. Virat has not only matched it but, arguably, gone even further in dominance. He could be one of the first batsmen to be a genuine master across all formats – Tests, ODIs, &amp; T20s. Virat’s consistency in performance, and resonance with the youth could be seen as the key ingredients that make him such a sought after sports celebrity in India.” Sudarshan also told us that Kohli earns massive amounts of money via endorsements of brands like Puma, Audi, MRF, Colgate-Palmolive, Tissot and has done shoots for many personal care companies as well. MRF signed Kohli in 2015 for a three-year period, where he reportedly received ₹8 Crore per year. <cmsannotation type="cmsannotation" annotationid="Kohli’s charm on social media" text="Kohli’s charm on social media">Kohli’s charm on social media</cmsannotation> Kohli’s social media following also increased by 46.3% from 112.8 million in 2019 to 165.0 million in 2020, revealed Duff &amp; Phelps. He has been engaging with his fans frequently through live sessions, posts, reels, etc. Here’s how his Social Media following has grown across Facebook, Twitter and Instagram over the last 3 years. “This massive social media following adds to the potential consumer base for the associated brands, especially during the lockdown when most of the brands had little to no access to the traditional channels of advertisement. As per data from Hyper Auditor, his quality audience has increased by 66.6 percent from 41.9 Mn in 2019 to 69.8 Mn in 2020. Moreover, Kohli has been engaging with his fans frequently through live sessions, posts, reels, etc. His engagement per post also increased from 2.2 percent in 2019 to 2.8 percent in 2020,” said Jain. <cmsannotation type="cmsannotation" annotationid="Will RCB’s performance impact Kohli’s brand image?" text="Will RCB’s performance impact Kohli’s brand image?">Will RCB’s performance impact Kohli’s brand image?</cmsannotation> Kohli’s IPL team, RCB’s brand value declined by 9.9% in 2020. Considering that brands chase numbers and eyeballs, will this decline in the team's value impact Kohli’s net worth this year? Jain explained, “RCB’s value decreased largely due to the impact of pandemic last year. While RCB’s value declined last year, its value may have been further impacted had RCB not leveraged heavily on Brand Kohli. A large portion of RCB’s ability to generate sponsor interests (even after below average on-field performances) is due to their association with Virat Kohli. Virat has been signed as brand ambassador of many brands since cricket has mass appeal, and fans worship him for his expertise, consistent performance and excellence in all three formats of cricket. However, his following is dependent on a lot of factors besides his professional excellence. Thus, while we agree that brands chase numbers, Virat’s brand value may not be materially impacted by the decrease in RCB’s value. Kohli’s brand image, relatability and followership continue to remain strong and we expect the same trend going forward.” Sudarshan also said that Virat Kohli’s popularity is not dependent on RCB. In fact, it’s the other way around. “RCB has been able to sustain its popularity (despite an indifferent IPL performance) because of Virat Kohli. Players like Virat Kohli and Dhoni are not dependent on the IPL to enhance their earning potential. Rather, it is the IPL that becomes a more marketable property for brand, because of the presence of such players in the league,” he added. While only time will tell whether Kohli’s RCB will bring back home ‘team of the year’ title, he will continue to be the favourite celebrity in the brandverse.

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