<ul><li>Foreign portfolio investors (FPIs), domestic mutual funds are raising their stake in multiplex firms like Inox Leisure, PVR on hopes of <keyword id="9450879" type="UNKNOWN" weightage="20" keywordseo="theatres-reopening">theatres reopening</keyword> soon.</li><li>Investors cheered this development as shares of both multiplex stocks gained on July 27.</li><li>Analysts expect the multiplex industry to gradually recover in the second half of FY22.</li></ul>Multiplex chains, which are among the worst hit by the pandemic have finally found some hope as <keyword id="46604" type="PERSON" weightage="20" keywordseo="theatres">theatres</keyword> are reopening as COVID-19-induced restrictions are being relaxed. <a href="https://www.livemint.com/news/india/maharashtra-shops-may-open-for-longer-hours-as-govt-set-to-relax-some-restrictions-this-week-11627264968238.html">Reports </a>said that Maharashtra government may announce more relaxations in the pandemic-related curbs, this week, imposed during the second wave of the coronavirus pandemic in the state. Moreover, the Delhi government on July 24 announced a slew of unlocking measures and allowed the cinema halls and theatres, and multiplexes to function with 50% capacity. Shares of Inox Leisure and PVR gained 6% and 1.3% respectively on July 27 at 12:51 p.m. Foreign portfolio investor (FPI) holdings in Inox Leisure have <a href="https://www.thehindubusinessline.com/markets/stock-markets/fpis-mfs-increase-stake-in-pvr-inox-leisure/article35546798.ece">reportedly</a> gone up by 8.09% year-on-year to 16.44% as of April-June 2021 from 9.53% in the same quarter last year. Also, mutual funds’ holdings also went up to 23.09% from 19.72% during the same period. Also, a <a href="https://timesofindia.indiatimes.com/business/india-business/amazon-eyes-potential-stake-in-indias-inox-leisure-report/articleshow/84782764.cms">report</a> by Indian Express suggested that Amazon.com India is in talks with several domestic players in film and media distribution including Inox Leisure for a potential stake. It may be looking to expand its content streaming platform Prime Video. Reacting to the report, Inox Leisure released a statement on exchanges saying there are no discussions taking place with Amazon, nor were there any such discussions in the past. It stated the news report was factually incorrect. <div type="image" title="inox stock chart" height="900" width="1200" msid="84785863" hostid="261"></div> A report by Sharekhan Research expects gradual recovery in this space while it said multiplex business is going to be a sustainable model in the long term. “Expect gradual recovery over the next 2-3 quarters as COVID vaccination is catching pace… We believe the multiplex business is going to be a sustainable model in the long term given Indian movie-goers’ strong appetite for the silver screen… We continue to remain positive on the stock, given a net debt-free balance sheet and potential for healthy earnings growth over FY21-FY23,” said a report on Inox Leisure published on April 29. <div type="image" title="PVR stock chart" height="900" width="1200" msid="84785899" hostid="261"></div> Meanwhile, a report by Maybank Kim Eng Securities on PVR dated June 3 said it sees a threat from over the top (OTT) platforms witnessing direct release on their platforms. It hopes big movies will release on box office and not on OTT. “We factored in 67 million footfalls in FY22 estimates, as we expect a weak recovery in footfalls even during second half of FY22 which is contingent upon the government’s vaccination drive and reaching herd immunity, strong content pipeline -- key movies such as ‘Sooryavanshi’, ‘Lal Singh Chaddha’ and ‘83’ release on box-office and not on OTT,” said the report. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musks-tesla-second-quarter-earnings-show-that-its-bitcoin-holding-cost-the-company-23-million-in-impairment/articleshow/84784933.cms">Elon Musk’s Tesla second-quarter earnings show that its Bitcoin holding cost the company $23 million in impairment </a> <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again — Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’ </a>

Inox Leisure, PVR stocks shine on hopes of theatres reopening soon

<ul><li>Civil rights groups Australian Centre for International Justice and Justice for Myanmar are turning up the heat on Gautam Adani-led <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> for its dealings with the Myanmar military.</li><li>In their latest statement, the two groups have urged the US Treasury to deny a licence request to Adani Ports to operate its port in Myanmar.</li><li>Adani Ports is accused of dealing with the Myanmar Economic Corporation, a US sanctioned entity.</li></ul>Australian civil rights collective Australian Centre for International Justice (ACIJ) and activist group Justice for Myanmar have requested the US Treasury to deny the request for a licence to Adani Ports &amp; SEZ to operate its port in Myanmar. This comes after the Gautam Adani-led company had stated in its June quarter report that it is not in violation of any sanction guidelines issued by the US Department of Treasury’s Office of Foreign Assets Control (OFAC). It had, therefore, submitted a request to the department for a ‘general licence to operate the Port.’ In response, ACIJ and Justice for Myanmar have urged the US Treasury to deny this request, citing the commercial ties of Adani Ports with the Myanmar military. More specifically, Adani Ports is accused of dealing with the Myanmar military’s commercial arm, the Myanmar Economic Corporation (MEC) – a US sanctioned entity. <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, the chairman and managing director of the Adani Group, has seen his <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-elon-musk-jeff-bezos-and-mukesh-ambani-in-2021-with-highest-increase-in-net-worth/slidelist/81467132.cms">wealth skyrocket in 2021</a>. His net worth has grown more than even Amazon’s Jeff Bezos or Tesla’s Elon Musk this year. Adani’s port projects in <a href="https://www.stopadani.com/">Australia</a> and <a href="https://www.downtoearth.org.in/news/environment/why-are-ennore-residents-protesting-against-adani-s-kattupalli-port-expansion-project--75894">Tamil Nadu</a> have also received criticism from activist groups, politicians and locals over environmental concerns. <div type="Article" hostid="261" msid="81843747" title="Aussie civil rights group calls on India's stock exchanges to take action against Adani Ports for 'factually misleading' stakeholders" mstype="2" mssubtype="0"></div> “We call on the US Department of Treasury to deny Adani Ports a licence to continue its business with MEC. Because Adani Ports is creating a lucrative future asset for the MEC – this should raise serious concerns about whether Adani Ports is providing material assistance to a US sanctioned entity,” said Rawan Arraf, the executive director of ACIJ, in a statement. According to the activist groups, MEC finances the Myanmar junta – the country’s military – which is accused of war crimes and crimes against humanity. More recently, the military organised a coup by deposing the democratically elected government under the National League for Democracy. “It is abhorrent that Adani Ports is continuing to build a port for the MEC in Yangon, a company which finances the Myanmar military, which is carrying out a campaign of terror against the people that has killed over 960 people since the illegal military coup,” said Yadanar Maung, spokesperson for Justice for Myanmar. “Don’t give Adani Ports a licence to whitewash their business with war criminals,” Maung added further. Earlier this year, both the activist groups had <a href="https://www.businessinsider.in/stock-market/news/gautam-adanis-adani-ports-share-price-rallies-even-as-nse-and-bse-are-being-called-on-to-take-action-against-the-company-for-myanmar-military-ties/articleshow/81843747.cms">called</a> on the Indian stock exchanges to take regulatory action against the company for not disclosing its ties to Myanmar’s military. According to the <a href="https://acij.org.au/wp-content/uploads/2021/03/Port-of-Complicity-Report-FINAL-Low-Resolution-Version.pdf">ACIJ and JFM</a>, documents show that Adani Ports will pay up to $30 million in land lease fees for the project to the MEC. Moreover, documents filed with Myanmar’s corporate regulator show Adani bringing in $141 million ‘capital in cash and $148 million ‘capital in kind’ for the project as per <a href="https://www.abc.net.au/news/2021-03-30/queensland-adani-ports-myanmar-military-deal/100032156">ABC Australia</a>’s investigation. However, Adani Ports maintains that the facts are being misrepresented. Business Insider India has reached out to Adani Ports for a comment on the issue, but is yet to receive a response. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/gautam-adanis-adani-ports-share-price-rallies-even-as-nse-and-bse-are-being-called-on-to-take-action-against-the-company-for-myanmar-military-ties/articleshow/81843747.cms">Aussie civil rights group calls on India's stock exchanges to take action against Adani Ports for 'factually misleading' stakeholders</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-ports-shows-a-record-quarterly-volume-growth-while-the-shares-have-already-run-up-over-7-in-last-5-days/articleshow/85005554.cms">Adani Ports shows a record quarterly volume growth while the shares have already run up over 7% in last five days</a> <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again — Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’</a>

Australian civil rights group requests US Treasury to deny licence to Adani Ports for its dealings with the Myanmar military

Kolkata, May 4 () A group of 75 eminentpersonalities from West Bengal has slammed TMC MP Mahua Moitra for criticising NRI doctors, who had recently written to Chief Minister Mamata Banerjee voicing concern over the COVID-19 situation in the state.In a statement issued here on Sunday, the eminent personalities, including filmmakers, actors, music composers and professors, said they are "embarrassed of such a reaction from an MP in the wake of the pandemic".The signatories include filmmakers Buddhadeb Dasgupta, Tarun Majumder, Kamaleswar Mukhopadhyay and Suman Mukhopadhyay, artist Wasim Kapoor, actor Sabyasachi Chakraborty, music composer Debajyoti Misra, professor Ambikesh Mahapatra and educationist Pabitra Sarkar.In a letter to Banerjee in late April, 14 NRI doctors had cautioned the state government against "under-reporting of COVID-19 cases and deaths", saying, "it will have a direct impact on the spread of the virus and lead to a massive crisis in the state".In response to the letter, Moitra had tweeted: "11of 14 NRI docs writing to WB CM in US, 2 in UK &amp; 1 in Ger.W/due respect you choose to live practise pay taxes elsewhere Suggest you get down to work in yr adopted countries!"Criticising Moitra, the personalities said, "The petty insinuations made were uncalled for diverting attention from the real issues and unnecessarily politicising the pandemic. We are afraid that this reaction from a representative of Parliament could dissuade NRIspecialists from coming forward to offer their knowledge and expertise during critical times.""Today, more than ever state officials should riseabove petty whataboutery and listen to experts in dealing with health crisis," it added.Referring to Moitra's famous speech in Lok Sabha, the eminent personalities wondered how "the same person in her address had pointed out that criticising the government is not criticising India and said that gagging freedom of speech is a sign of fascism"."Why then, raising public health concerns about thestate is equated to criticising West Bengal? Or is she trying to imply that their non-resident status precludes these scientists from questioning things at home?" the statement said.The personalities asserted that NRI doctors are renowned public health scientists and physicians from premier institutions in the US, UK and Germany. Several of them are engaged in data science and modelling initiatives related to COVID-19. SUS ACD DVDV

COVID-19: Eminent personalities slam TMC MP Moitra for criticising NRI doctors

From Adani Group to Tata Motors and banks ⁠— these 17 stocks have already lost over 10% in last one month

<ul><li>The <keyword id="6355187" type="UNKNOWN" weightage="20" keywordseo="lok-sabha">Lok Sabha</keyword> on Wednesday, passed the Unlawful Activities Amendment Bill 2019. </li><li>The individuals wanted for terror-related crimes or under the radar for having any terror links shall be labelled as ‘terrorists.’ </li><li>The bill is aimed to strengthen anti-terrorism provisions in the country. </li><li>The bill was passed considering the votebank count, which stood at 287 votes against eight odd opposing votes.</li></ul>Despite strong protests by the opposition parties including the Congress, Trinamool Congress and DMK, the Lok Sabha on Wednesday, <a href="https://www.google.co.in/amp/s/www.livemint.com/politics/policy/lok-sabha-passes-bill-in-boost-to-anti-terror-laws/amp-1563964089878.html">passed</a> the Unlawful Activities(Provisions) Amendment Bill 2019(UAPA). The bill aims to strengthen anti-terrorism provisions in the country. Under this, individuals wanted for terror-related crimes or under the radar for having any terror links shall be labelled as ‘terrorists.’ Investigation agencies can seize properties of those labelled as terrorists. As of now, criminal cases with terror charges are handled by senior authorities including Deputy Superintendent and police commissioner among others. However, the amendments will enable the inspector-rank officers to probe the cases. “The bill is only to root out terrorism,” <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword> responded amid the session. He also roped in ‘urban Maoists’ into the anti-terrorism bill, saying that people have been supporting Maoism, under their ‘ideologies’ — and the government has no room for it. ‘A dangerous Act’ As expected the bill faced opposition heat, who believe that it can be misused. The Trinamool Congress is worried that those who oppose government agenda can be tagged as ‘anti-national’. “Features of the bill are anti-people and anti-Constitution...it is a very dangerous Act,” TOI <a href="https://timesofindia.indiatimes.com/india/amid-walkout-lok-sabha-passes-bill-to-ban-individuals-too-as-terrorists/articleshow/70370553.cms">reported</a> citing TMC’s Mahua Moitra. Supriya Sule of Nationalist Congress Party (NCP) argued saying that PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> had in the past, ‘opposed’ the amendments in the National Counter Terrorism Centre and National Intelligence Grid. The bill was, however, passed considering the votebank count, which stood at 287 votes against eight odd opposing votes. It is likely to get through in the Upper House of the Parliament as well as it gets nod from the ruling Bharatiya Janata Dal (BJD) and Samajwadi Party. See also: <a href="https://www.businessinsider.in/motor-vehicle-amendment-bill-passed-in-the-lok-sabha/articleshow/70347585.cms">Motor vehicle amendment Bill has been passed in the Lok Sabha and here's how it will affect you</a> <a href="https://www.businessinsider.in/pakistan-is-home-to-40000-terrorists-and-40-militant-groups-admits-imran-khan/articleshow/70363265.cms">Pakistan is home to 40,000 terrorists and 40 militant groups, admits Imran Khan</a> <a href="https://www.businessinsider.in/these-are-the-constituencies-affected-by-maoist-violence-that-will-vote-today/articleshow/68826088.cms">Elections 2019: These are the constituencies affected by Maoist violence that will vote today</a>

Indian government passes anti-terrorism bill; opposition calls it ‘dangerous’

<ul><li><keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword>'s plans to invest $1 billion in the North American market over the next two years.</li><li>The company believes that that international market would make a third of its revenue in the future.</li><li>The Bengaluru-based company is estimated to earn $300 million from the US market in FY22.</li></ul> Byju's has had global aspirations since 2019, when it acquired US-based educational game system Osmo for $120 million. The pandemic and the resultant boost for online education platforms in 2020 have led to aggressive expansion by the Indian decacorn (startup valued at over $10 billion) this year. “India can provide teachers to the world, just like software engineers,” founder Byju Raveendran said in an interview with Business Insider in October 2020. <div type="Youtube" id="qIe5VhDvJXU" title="How EdTech Can Shape The Future Hereon?" thumbUrl="https://i.ytimg.com/vi/qIe5VhDvJXU/mqdefault.jpg"></div> Byju’s has already laid out an elaborate plan for the estimated <a href="https://www.austrade.gov.au/ArticleDocuments/5085/Edtech-US-market-snapshot.pdf.aspx/">$43 billion</a>+ edtech market in the US dominated by Age of Learning (valued at $3 billion) and Kajabi (valued at $2 billion) in the kindergarten to class 12 (K12) segment Byju’s is looking at. Two acquisitions in the last one month ⁠— Epic and Great Learning ⁠— have cost Byju's over $1.1 billion, and it plans to invest over a billion dollars in the North American market over the next two years. Besides that, the Indian startup has launched its core Disney-based learning app in the US and launched Byju's Global School for vocational learning. Industry watchers believe there may be more deals and acquisitions along the way. Investment bank Dexter Capital’s founder Devendra Agrawal, in an interaction with Business Insider, said that there is a lot of headroom for edtech to grow globally and there are few with the kind of muscle that Byju's ⁠— with a valuation of $16.5 billion ⁠— has. More importantly, Byju's can make more revenue ($376 million in FY20) in countries like the US, UK and Australia, where people can afford to pay more. Anita Kishore, the head of strategy at Byju's, told Business Insider that international markets would make a third of the company’s revenue in the next three to four years. The USA would be dominating the international market for Byju's. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> <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;">Metric </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;">Base </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;">July 2021 </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;">Growth </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;">Valuation </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 billion (2019) </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;">$16.5 billion </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;">2.7X </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;">Users </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;">50 million (May 2020) </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;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">100 million </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;">2X </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;">Subscribers </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;">3.5 million (May 2020) </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;">6.5 million </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;">1.8X </td></tr></tbody></table> With steady business growth prediction in India, why do Byju's want to look at the American market? The company started its expansion plans in 2019 by acquiring Osmo, which produces augmented reality games for mobile devices. <div type="ExtQuote" text="“We are building a product for the international markets. At present, our focus is getting the K-3 (lower grades first, then second and third grades) product ready for launch in the next few months.”" auname="— Mrinal Mohit, chief operating officer at Byju&amp;#39;s, said in 2019 while announcing the acquisition."></div> <div type="image" title="Image 1 Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84784080" hostid="261"></div> The company made its second acquisition in the US last week. It acquired digital reading platform Epic for half a billion dollars. The buyout provided Byju's with access to the company’s user base of 50 million students and 20 million teachers in one hit. Byju's also leveraged its<a href="https://www.businessinsider.in/business/startups/news/how-karan-bajaj-sold-his-less-than-18-month-old-startup-white-hat-jr-to-byjus/articleshow/77415329.cms"> $300 million acquisition</a> of the coding-for-kids startup WhiteHat Jr by launching the <keyword id="7677076" type="UNKNOWN" weightage="20" keywordseo="Future-school">Future School</keyword> brand that will focus on providing extra-curricular courses in international markets. The company has already launched its services in the US, Canada, Australia, New Zealand and other English speaking markets last month. It has also been piloting in non-English speaking countries like Brazil and Mexico, and will plan a full-roll out soon. <div type="ExtQuote" text="“The other advantage that [the] US market gives us is the fact that it is English speaking, right? A lot of our products, while you know, they need to be customised, and so on. Given the language is English, we are able to actually scale those products well, with teams in India. Hence, the US has been a key market for us.”" auname="— Anita Kishore, head of strategy at Byju&amp;#39;s, told Business Insider"></div> The 10-year-old startup expects to earn $300 million in the US in the financial year ending March 2022, all thanks to these three products. <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;">Company </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;">Projected revenue in FY22 </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;">Byju's Future School </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;">$100 million+ </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;">Epic </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;">$100 million+ </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;">Osmo </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;">$100 million+ </td></tr></tbody></table> Notably, the company has made four acquisitions, amounting to $2 billion, in the last six months. Two of which — Great Learning and Epic — directly related to the company's international expansion plans. Kishore emphasised that Byju's does not have any target number for acquisition or investments to expand its presence in the US. “It is more where we see a strategic fit and an alignment of vision with the founders. That’s where we go ahead and do that [acquisition].” <div type="image" title="Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84783979" hostid="261"></div> “ India will continue to be Byju's biggest market in terms of revenue for the next two years. However, they would want this ratio to change going forward. How soon it could change is hard to comment. The outside market, like the US, the growth could be higher. Two-three years later, the percentage revenue they get from the US market could be sizeable. It would not be more than 50% or more than Indian market. In the long term, it may happen that Byju's is getting more revenue from outside India.” -- Devendra Agrawal, founder, Dexter Capital A dream so big, it may need bigger deals Acquisitions are usually done for three reasons. First, to enter new geographies. Second, to incorporate new services or products into business offerings. Third, to eliminate a disruptor that could be a potential threat to the company in the long run. “Because of all three reasons, Byju's will continue to acquire new players…,” Agrawal told Business Insider. The organic way of doing so, by building a team and hiring people, may actually take a couple of years. The inorganic way, by acquiring companies, can help speed up the process of scaling up. Madhur Singhal, managing partner and chief executive officer (CEO) at consulting firm Praxis Global, explained that the company’s expansion largely depends on how well the company develops an empirically grounded model of technology and capability that taps the market opportunity with cross-selling into customers of acquisitions they are making. “If this strategy comes right, it could result in bigger and faster outcomes,” he added. While the global market will make up a third of Byju's revenue, India will continue to be the biggest market for the edtech company due to the massive growth of its core product in two to three years, Kishore emphasised. The recent acquisition of the test preparation chain Aakash Educational Services, which has over 200 coaching centres across India, is going to accelerate the company’s growth in India as well. Byju's had acquired Aakash for $1 billion earlier this year and it was the biggest edtech deal in the world. <div type="image" title="(image 3) Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84784062" hostid="261"></div> Even though Aakash may not contribute much to Byju's international plans, the acquisition will give the company a sizable revenue as well as profit. “If somebody has to distribute Byju's revenue — organic revenue versus revenue of acquired companies — Aakash would give them largest leverage purely from the EBITDA [earnings with interest, taxes, depreciation, and amortisation] and revenue perspective,” Dexter Capital’s Agarwal added. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again — Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’</a> <a href="https://www.businessinsider.in/thelife/news/tesla-shrugs-off-the-global-chip-shortage-to-post-its-most-profitable-quarter-yet/articleshow/84777571.cms">Tesla shrugs off the global chip shortage to post its most profitable quarter yet</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India

<ul><li>Information and Broadcasting Ministry to set up a hub to collect, analyse citizens’ digital and <keyword id="6354632" type="UNKNOWN" weightage="20" keywordseo="social-media">social media</keyword> data. </li><li>SC said that it will be “like creating a surveillance state”. </li><li>SC issued a notice and sought a reply from the Centre within two weeks. </li></ul>On Friday, the Supreme Court strongly reacted to the decision of the Information and Broadcasting Ministry to set up a social media hub for monitoring online data. The hub would collect and analyse citizens’ social media content and digital platform data like blogs and news. SC noted that the government also wants to tap the citizens’ <keyword id="790242" type="COMPANY" weightage="20" keywordseo="WhatsApp">WhatsApp</keyword> messages and observed that it will be “like creating a surveillance state”. Recently, the <keyword id="6703119" type="UNKNOWN" weightage="20" keywordseo="Broadcast-Engineering-Consultants-India">Broadcast Engineering Consultants India</keyword> Limited (BECIL), a public sector undertaking under the ministry, had floated a tender to supply software for the project that would create this hub and build a “single system providing real-time insights, metrics and other valuable data”. Under the project, media persons would be employed for every district to be the “eyes and ears” of the government and they would need to provide real-time updates from their location. The document mentions that the platform is expected to provide automated reports, tactical insights and comprehensive work-flows on initiating engagement across digital channels. On a plea made by <keyword id="399454" type="PERSON" weightage="20" keywordseo="All-India-Trinamool-Congress">All India Trinamool Congress</keyword> (AITC) legislator, Mahua Moitra, the apex court issued a notice to the Centre and sought a reply on the matter, within two weeks. Moitra’s advocate informed the court that the government has issued A request for proposals and the tender for creating the hub shall be opened on 20 August. “They want to monitor social media content with the help of this social media hub,” the advocate said, pointing out that this will be done by tracking their social media accounts on Twitter, Facebook and <keyword id="819905" type="COMPANY" weightage="20" keywordseo="Instagram">Instagram</keyword>, and their e-mails. The bench then said it is listing the matter for 3 August, before the tender is opened and the Attorney-General or any law officer from the government will be assisting the court in the matter. This is not the first time that the court is hearing such a plea. On 18 June this year, the court had been requested an urgent hearing on similar issues without much resulting from it.

Indian government wants to tap into your WhatsApp messages, other social media

<ul><li>On 3 August, the central government told the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> that it was withdrawing a tender for the establishment of a <keyword id="6354632" type="UNKNOWN" weightage="20" keywordseo="social-media">social media</keyword> communications hub. </li><li>The proposal, released in April 2018, involved trawling social media websites and collecting of individuals’ data and messages. </li><li>Last month, the Supreme Court said that this amounted to “surveillance”. </li></ul>In April 2018, India’s Ministry of Information and Broadcasting released a tender that indicated its intentions to establish a “<a href="https://www.businessinsider.in/stalk-troll-and-control-indian-government-wants-to-track-your-online-activities-more-effectively/articleshow/64383302.cms">New Media Command Room</a>” and build a technology platform to expand its social media operations. The deadline for the submission of bids was in August. Some of the key activities of this media command centre, which was to comprise 20 social media professionals, included trawling of websites like Facebook and Instagram, the collection of individuals’ data and messages and their subsequent profiling. In the simplest terms, it amounted to <keyword id="6354565" type="UNKNOWN" weightage="20" keywordseo="Surveillance">surveillance</keyword>. The platform was also to be used as a tool to promote the government's messaging and influence public perception. As expected, there was significant backlash to the <keyword id="14666" type="ORGANIZATION" weightage="20" keywordseo="BJP">BJP</keyword> administration’s proposal to set up a ‘social media communications hub’. Opposition parties said that it would lead to the curtailment of free speech and suppression of dissent. The government defended the project, saying that the aim was to assess public sentiment with regard to national welfare schemes. In mid-July, the Supreme Court said that the monitoring of people’s social media activities would make India a “<a href="https://indianexpress.com/article/india/surveillance-state-if-every-message-is-monitored-supreme-court-5258843/">surveillance state</a>”. The notice came in response to a petition filed against the proposal by Mahua Moitra, an official from the Trinamool Congress party, who claimed that the proposal went against the fundamental right to privacy. The notice had its intended impact. A few days ago, the Indian government did an about-turn on the social media strategy, deciding that it was wise to avoid skirting controversy in the build-up to national elections next year. On 3 August, the central government told the Supreme Court that it was withdrawing the proposal. However, it did say that it could review the scheme and come up with a modified proposal. The government’s tentative disavowal of a controversial, potentially undemocratic scheme is a welcome move. This is the second time that it has withdrawn a plan this year. In February 2018, the government was forced to roll back an order that banned the trade and slaughter of cattle after the pain it caused to the livestock industry, especially in terms of exports.

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