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New Delhi, Jan 30 () Industry body Amfi on Thursday said it has roped in cricketing icons Sachin Tendulkar and M S Dhoni for their 'Mutual Funds Sahi Hai' campaign that aims to create awareness about the financial product as a preferred investment option.
 This is the first time when the industry has engaged celebrities to promote its ambitious investor awareness campaign, which was launched in March 2017.
 "Sachin Tendulkar and M S Dhoni evoke unstinted trust and high dependability, and their longer-term orientation in their respective cricketing careers, has been akin to retail investors having equally longer-term approach towards investment," Association of Mutual Funds in India (Amfi) Chairman Nilesh Shah said in a statement.
 Longer-term approach be it, in cricketing career or in mutual fund investments can deliver rich dividends be it for cricketers or investors, alike," he added.
 Amfi chief executive N S Venkatesh said this is the right time to take the conversation with retail investors across the country to the next level by engaging the cricketing icons.
 Currently, there are 44-players in the mutual fund industry, which manages assets to the tune of over Rs 26 lakh crore.
 "I am excited to be associated with the mutual funds sahi hai initiative, through Amfi, to help create awareness about mutual funds. Discipline and longer-term approach is the cornerstone towards achieving success, be it in any sport and likewise in personal investing," Tendulkar said.
 Dhoni said, "I take great pride in being associated with the mutual fund sahi hai campaign. Having goal-based approach, starting early, staying disciplined and not being fazed by volatility, are the four mantras, I have always followed, be it in my cricketing career or in personal money management."
 Earlier in 2017, markets regulator Sebi had allowed celebrities to endorse the instrument at industry level in order to increase awareness about mutual funds as a financial product. SP MR
MR

Amfi signs Sachin, Dhoni for mutual funds campaign

Ed-tech startup <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="Unacademy">Unacademy</keyword> raised $1 million in the latest funding round and was backed by Flipkart's <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, Binny Bansal, Paytm's <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, and FreeCharge's <keyword id="192201" type="PERSON" weightage="20" keywordseo="Kunal-Shah">Kunal Shah</keyword>. 
 The funding round was led by <keyword id="592779" type="ORGANIZATION" weightage="20" keywordseo="Blume-Ventures">Blume Ventures</keyword>, Stanford Angels India, WaterBridge Ventures, Traxcn Labs and a clutch of other angels, including Sandeep Tandon and Ashish Tulsian. 
 
The existing investors of Unacademy including Taxi4Sure’s Aprameya Radhakrishnan, redBus’ Phanindra Sama, CommonFloor’s Sumit Jain and Vikas Malpani (both CommonFloor) also participated. 
 
Unacademy is an education-technology based startup that allows educators to create courses on the platform. 
 Puducherry <keyword id="3547504" type="UNKNOWN" weightage="20" keywordseo="lg-kiran-bedi">LG Kiran Bedi</keyword> is also an educator on the platform. 
 
"Within two months, the Unacademy Create app will be made available to all, so anyone across the world can create lessons in any language they like. After a thorough screening process, we will make the relevant lessons available on our platform that will be free for all to see," said Chief Executive Gaurav Munjal, who started Unacademy along with Roman Saini. 
 
To become an educator on Unacademy, you have to go through an interview process and the selection is based on their experience. 
 
Once selected, the educators create video courses of not more than 10 minutes on its platform, which are available to students for free. 
 
"In a short span of eight months, the founding team has proved that leveraging technology to empower its educators and students is a problem that can be solved effectively at scale," said Flipkart’s Sachin Bansal. 
 
The startup claims to have more than 300,000 students for over 2,400 online lessons and specialised courses through the platform. 
"The product is designed for both lightweight production and consumption-in that it's ingenious. This can change learning to an entirely different plane and kill a lot of ine ective institutional frameworks," said Karthik Reddy, Managing Partner, Blume Ventures. 
 
(Image: Thinkstock)

Unacademy just raised $1 million and these are the top Indian entrepreneurs that backed this ed-tech startup

It is true that the <a href="http://www.businessinsider.in/searchresult.cms?query=growth+trajectory+">growth trajectory</a> for India is positive and the long-term story is undoubtedly good. Also, there is no doubt that India is going to be one of the fastest growing countries in the world, however, it cannot be the growth engine of the world. 
 <keyword id="2422554" type="PERSON" weightage="40" keywordseo="Mihir-Worah">Mihir Worah</keyword>, CIO, Asset Allocation, <keyword id="142202" type="COMPANY" weightage="80" keywordseo="PIMCO">PIMCO</keyword>, is of the opinion that India is still too small an economy and it is not a China, or United States. “India can be is a regional superpower, it can be one of the fastest growing countries in the world but it is not the growth engine," he added. 
 
"India is going to grow at 7% plus rate. It has well-known <a href="http://www.businessinsider.in/searchresult.cms?query=demographic+dividend">demographic dividend</a>, the youngest country in the world, and so there is expanding workforce,” he said. 
 
The government wants to speed up economic growth to hit the double-digit mark quickly, but analysts are of the view that the Centre would have to break the political logjam to push growth in <a href="http://www.businessinsider.in/searchresult.cms?query=Asia%27s+third+largest+economy">Asia's third largest economy</a>. 
 The government is looking for an 8%-10% annual economic growth through supply-side measures to increase the capacity in India, rather than risk higher <keyword id="22195" type="COMPANY" weightage="100" keywordseo="Inflation">inflation</keyword> by stimulating demand, Minister of State for Finance Jayant Sinha said on Thursday. 
 It is important to compare <keyword id="6356076" type="UNKNOWN" weightage="80" keywordseo="indian-economy">Indian economy</keyword> with other economies. India is a $2 trillion economy, while China and United States are $10 trillion and $16 trillion economy. So, China growing at a growth rate of 7% will have a larger impact on global growth than India. 
 "If India grows fantastically, but if the US slows down and China slows down, the <keyword id="47890" type="ORGANIZATION" weightage="100" keywordseo="global-economy">global economy</keyword> is going to slow down. India is going to grow, but it will not be the growth engine of the world," added Worah. 
 Earlier, global investment bank, <keyword id="6361649" type="CITY" weightage="80" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> said that India is likely to become the fastest-growing emerging market this year and its potential growth could rise to 8% over the next five years. 
 
Moreover, in a faster reform scenario, India's potential growth could rise to 9% over this period due to reforms in labour, infrastructure and education, it said. 
 
Jayant Sinha, a former <a href="http://www.businessinsider.in/searchresult.cms?query=McKinsey+">McKinsey</a> consultant, said that the government had ramped up public investment by 40% this year, as part of <a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi">Prime Minister Narendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi">Modi</a>'s push to modernise road and railways. 
 The <keyword id="6360789" type="ORGANIZATION" weightage="100" keywordseo="Modi-Government">Modi government</keyword> said that it is committed to the capex that the economy needs. This commitment is not only in terms of infra, but in terms of overall spending. 
 
"In the wake of the slowdown that we have seen, there is now a consensus that the recovery will have to be initiated by government capex. The good part is that we are going to see some solid capex in infrastructure development. It won't be just some populist measures any longer," said Sachin Shah, Fund Manager, Emkay Investment Managers Ltd. 
 
"The government announcements may have first looked like a non-event as usual, but it eventually turned out to be different as there were no major populist measures this time despite major droughts and the like," he added. 
 Shah is of the view that this time, there is going to be more capex in the already developed areas. The <keyword id="18658" type="POSITION" weightage="80" keywordseo="Railway-Minister">Railway minister</keyword>'s capex plan for the next five year is quite largescale. And he is not talking without basis. He also has his resources in place. That is a very positive thing, he added. 
 
(Image: Indiatimes)

Can India become the growth engine of the world?

<ul><li>The Reserve Bank of India paused its rate hike cycle and kept the repo rate unchanged at 6.50% on Thursday, against wide expectations for a 25 basis point hike.</li><li>Markets went straight up after the <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword> decision with the Sensex rising 146 points, or 0.25%, to 59,847 while the Nifty50 gained 40 points, or 0.23%, to hit 17,597.</li><li>Since May 2022, India’s central bank has increased the repo rate by 250 basis points. Repo is the rate at which the central bank lends short-term funds to banks.</li><li>The Nifty Realty and Nifty PSU Bank were the top performers among sectoral indices today as they cheered the rate-pause decision.</li></ul>The Indian equity markets recovered from early losses on Thursday after the Reserve Bank of India’s (RBI) surprise pause in rate hikes – that kept the repo rate unchanged at 6.50%, as against wide expectations for a 25 basis point (bps) hike. “The MPC (Monetary Policy Committee) decided unanimously to keep the repo rate unchanged at 6.50% in this meeting of the MPC with readiness to act should the situation so warrant,” said RBI governor Shaktikanta Das. Das, however, underlined that the MPC would not hesitate to raise repo rates in future meetings as the decision to pause the rate hike cycle was for this meeting only. Since May 2022, India’s central bank has increased the repo rate by 250 basis points. Repo is the rate at which the central bank lends short-term funds to banks. The equity markets went straight up after the RBI decision with the Sensex rising 146 points, or 0.25%, to 59,847 while the Nifty50 gained 40 points, or 0.23%, to hit 17,597. Moreover, Das also boosted confidence with his observations that while the world was going through a period of extreme uncertainty, India’s financial sector remained resilient and stable amid a daunting environment. Nilesh Shah, managing director at Kotak Mahindra AMC, drew an analogy between RBI’s decision and cricket, especially the stroke play of batting maestro Sachin Tendulkar. “The RBI’s pause is like Sachin stroke on a tricky pitch but with eyes set in and having the luxury of hitting the ball wherever he wanted. The RBI had the option of a rate hike or a pause. The pause was not entirely unexpected. The RBI will watch developments and data before taking the next call. The market expects the RBI to fetch maximum run and win the match on inflation and growth, no matter which direction they hit the ball,” said Shah. Top gainers and losers on the Nifty50 <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;">Top gainers </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;">Change </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;">Top losers </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;">Change </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;">State Bank of 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;">1.90% </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;">ONGC </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;">-1.50% </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;">Bajaj Finance </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;">1.73% </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;">HCL Technologies </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;">-1.01% </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;">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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.63% </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;">Nestle 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;">-0.79% </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;">IndusInd Bank </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;">1.55% </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;">Titan </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;">-0.66% </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;">L&amp;T </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;">1.16% </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;">Britannia Industries </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;">-0.65% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE Real estate stocks, PSU banks ride up after rate-pause decision The Nifty Realty was among the top-performing sectoral indices today as the industry cheered the decision after being impacted by a deceleration in demand due to high inflation and rising interest rates. “Much against general expectations, the RBI decided to keep the repo rates unchanged at 6.5% today. This is indeed good for the residential real estate market, which faces a tough road ahead amid massive layoffs by large corporates the world over. India is not decoupled from global economic dynamics and their invariable impact on the housing uptake here. The RBI’s decision to keep the repo rates unchanged comes as a welcome respite to homebuyers,” said Anuj Puri, chairman at Anarock Group. A <a href="https://www.businessinsider.in/business/news/home-sales-slip-in-bengaluru-and-mumbai-in-q1-2023-even-as-prices-rise-across-markets/articleshow/99214438.cms">recent report </a>by real estate consultancy Knight Frank showed a decline in sales in the larger markets of Bengaluru and Mumbai, at -6% and -2% respectively in the first quarter of 2023. The pause in rate hike particularly gives relief to affordable and mid-segment homebuyers who feared a possible rate hike today would have made property-buying via home loans even harder, said Puri. After the continuous increase in interest rates pushed up the home loan rates over the past year, the industry expects cuts in interest rates going forward. Nifty Realty was up 2.13% on Thursday after the monetary policy decision with Godrej Properties leading the rally with a 4% jump. <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;">Top performers on Nifty Realty </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;">% change </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;">Godrej Properties </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;">4% </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;">DLF </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;">2.83% </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;">Oberoi Realty </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;">2.81% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indiabulls Real Estate </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;">2.41% </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;">Sobha </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;">1.87% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE The Nifty PSU Bank index also rode up 0.91% following the RBI’s decision. State Bank of India, Punjab National Bank and Bank of Maharashtra were among the top gainers in the index with more than 1.5% gains. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/air-conditioner-market-set-grow-on-the-back-of-governments-pli-scheme/articleshow/99273122.cms">Air conditioner market set grow on the back of government’s PLI scheme</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-monetary-policy-committee-keeps-repo-rate-unchanged-at-6-5/articleshow/99284354.cms">RBI’s Monetary Policy Committee keeps repo rate unchanged at 6.5%, for now</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/to-make-good-returns-you-neednt-shop-for-investment-products-you-need-to-be-an-investor/articleshow/99286565.cms">‘To make good returns, you needn’t shop for investment products, you need to be an investor’</a>

Markets cheer RBI’s pause, realty stocks zoom

The Supreme Court on Monday directed state governments to follow the Centre's guidelines for paying Rs 50,000 to family members of those who succumbed to Covid-19, and disburse the payment within 30 days of applying for ex-gratia, while asking the Centre and states to give wide publicity to the scheme. A bench, headed by Justice M.R. Shah, said no state government should deny the Rs 50,000 benefit on the ground that cause of death on the death certificate is not Covid-19 and the district authorities should take remedial steps to have the cause of death corrected. The bench, also comprising Justice A.S. Bopanna, added that the ex-gratia assistance should continue to be provided for deaths, which occur post the date of judgment. The top court said the grievance redressal committee can examine medical records of the deceased patient and take a call within 30 days on the compensation. In cases where death certificates have already been issued and the family members are aggrieved by cause of death mentioned on them, then they may approach the committee and submit documents seeking modification on the certificate. The top court said that this Rs 50,000 amount will be over and above the amounts paid by the Centre and states under various benevolent schemes. According to the <keyword id="107430" type="General" weightage="20" keywordseo="national-disaster-management-authority" source="Orion">National Disaster Management Authority</keyword> (<keyword id="6495659" type="General" weightage="20" keywordseo="ndma" source="Orion">NDMA</keyword>) guidelines, Rs 50,000 ex-gratia assistance will be paid to the families of those who died due to Covid-19 by the states from the State Disaster Response Fund (SDRF). The top court order came on an application seeking compliance of June 30 judgment, where directions were issued to the NDMA to frame guidelines to grant compensation to the families of those who died due to <keyword id="8764262" type="General" weightage="100" keywordseo="covid" source="Orion">Covid</keyword>, and the Centre was also directed to issue guidelines to simplify the process of issuance of death certificates in Covid cases. The Centre has filed a compliance affidavit, where it informed the top court about the NDMA guidelines framed to fix the ex-gratia at Rs 50,000 and also guidelines framed to simplify the process of issuing death certificates. The top court's June 30 judgment came on PILs which were filed by advocates Gaurav Kumar Bansal and Reepak Kansal seeking court's intervention for payment of Rs 4 lakh ex-gratia amount to the Covid victims' families. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/murali-divi-the-billionaire-scientist-behind-divis-labs-is-richer-by-6-billion-and-counting-since-the-pandemic/articleshow/86749881.cms">Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting since the pandemic</a> <a href="https://www.businessinsider.in/india/news/anil-ambani-sachin-tendulkar-kiran-shaw-and-other-indians-named-in-the-pandora-papers-leak/articleshow/86745435.cms">Anil Ambani, Sachin Tendulkar, Kiran Shaw and other Indians named in the Pandora Papers leak</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-has-raised-1-3-billion-this-year-to-so-far-in-pursuit-of-its-american-dream/articleshow/86745427.cms">Byju’s has raised $1.3 billion this year to so far in pursuit of its American dream</a>

Supreme Court says a death certificate need not mention COVID-19 to claim government's ₹50,000 ex gratia

<ul><li>Shah Rukh Khan topped the report in 2019 and <keyword id="6354832" type="UNKNOWN" weightage="20" keywordseo="ms-dhoni">MS Dhoni</keyword> was at No. 1 in 2020.</li><li>As per IIHB’s report, Dream11 was the most spontaneously recalled brand in this year’s survey.</li></ul>Versatile actor <keyword id="106133" type="PERSON" weightage="20" keywordseo="Ranveer-Singh">Ranveer Singh</keyword> versus Captain Cool MS Dhoni? Well, both seem to have done equally well in the annual IPL ad recall research of the Indian Institute of Human Brands (IIHB) conducted ten days after the start of the League this year. The research polled 879 respondents in the age-group of 18-35 years (M=481, F=398) across India. The interviews were conducted telephonically. Dream11 was the most spontaneously recalled brand in this year’s survey, which possibly also helped enhance both the brand equity and recall of MS Dhoni who anchored the 12-ad series for the brand as its ambassador and protagonist. Jio Fiber, with multiple IPL teams featured with an effervescent Ranveer Singh gyrating with a sing-song brand message, came in second on recall in the research, also helping the celebrity endorser to considerably strengthen his personal recall. Byju’s was the most spontaneously recalled brand on the IPL last year; though its celebrity endorser Shah Rukh Khan trailed behind other celebrities. Virat Kohli, as expected, did well on recall too, and came third in the recall rankings. Salman Khan did surprisingly well in this year’s survey and came in at No. 4, ahead of Rishabh Pant, Rahul Dravid, Varun Dhawan, Alia Bhatt and Saurav Ganguly who followed in that sequence. Ajay Devgn, Sachin Tendulkar, Shikhar Dhawan, Shah Rukh Khan, Boman Irani, Kareena Kapoor, Ranbir Kapoor, Katrina Kaif, Ayushmann Khurrana and Akshay Kumar, on the other hand, had very few mentions and scored very poorly on respondent recall. There were sporadic mentions of Virender Sehwag and Priyanka Chopra too. In the last survey conducted in October 2020, MS Dhoni had the highest spontaneous recall as a celebrity endorser. Virat Kohli was a not-so-close second. Akshay Kumar was at rank 3; Ayushmann Khurrana at rank 4. “MS Dhoni and Ranveer Singh had a disproportionate share of visibility and recall in the IPL research we just conducted. This was in sync with the ultra-high recall of the brands they respectively endorse”, said Dr. Sandeep Goyal, Chief Mentor of IIHB. “It is interesting nevertheless to note that brands without celebrities like Phone Pe, Byju’s and others too have done well wherever media investments are heavy”. IIHB team used its proprietorial CELEBAR tool based on Celebrity Brand Association &amp; Recognition to assign a metric score to each celebrity and associated brand. The tool takes into account: <ul><li>Spontaneous recall of the brand</li><li>Spontaneous recall of the celebrity</li><li>Association between brand &amp; celebrity together </li><li>Recency of communication </li><li>Media weight behind campaign</li><li>Solus versus multiple brands using the celebrity</li></ul>MS Dhoni had a CELEBAR score of 87, up from 82 at the last IPL. His spontaneous recall was an unusually high 82%. His association with Dream 11 was also very constant at 79% from the last edition. He got 9% association with IPL/Star TV, 8% brand association with Indigo Paints, 6% with Orient Fans for Orient Fans and Livfast Solar. 2% recall came from SunFeast Yippee. So, most of Dhoni’s brand goodness got hijacked by Dream 11, much like last year. If Dhoni had only been endorsing Dream 11, his CELEBAR score would have been near 100, given his strong association with that one brand, to almost the relative exclusion of the other brands he endorses. Ranveer achieved a CELEBAR score of 86, empirically almost equal to that of MS Dhoni. But his association was more democratically spread with Jio Fiber at 56%, JD mart at 48%, My11 Circle at 22% and Bingo at 18%. Names of some other brands were mentioned by respondents but these were filtered out as they were not part of the IPL broadcast. Both MS Dhoni and Ranveer gained massively also on account of their main brands spending disproportionately large amounts of media monies which made them exponentially more visible than other competing celebrities. Virat Kohli trailed far behind the Top 2. His score of 45 on CELEBAR is mostly derived by his 94% association with MRF tyres. Bluestar is in low single digits on association. Salman Khan at a CELEBAR of 38, owes 82% recall to Rajshree elaichi and the balance to Pepsi. Rishabh Pant climbed up interestingly to No. 5 on the strength of his JSW appearances. Varun Dhawan had 76% of his recall from Lux Cozi and much lower from Frooti. Alia owed most of her recall also to Frooti with scattered mentions of Dark Fantasy. Interestingly, the IPL seems to be running no/few ads with Amitabh Bachchan, Akshay Kumar, Deepika Padukone, Ranbir Kapoor, and even with cricketers Rohit Sharma or KL Rahul or Hardik Pandya, or the media weightages behind those ads were too insignificant to be noticed by viewers. The Cred ad for Rahul Dravid was spontaneously recalled by 17% respondents but only 2% remembered Jackie Shroff and only 1% mentioned Kumar Sanu for the same brand. Mutual Funds (AMFI) ads had 22% recall but most respondents got the protagonists mixed up, with the most attributing the messaging to Dhoni and Kohli. Dream 11’s association with multiple cricketers was mentioned by many respondents but most were not sure if they remembered current creatives. Only the connect with MS Dhoni was unambiguous. Despite heavy media weights, Vimal elaichi ad featuring Ajay Devgn and Shah Rukh Khan had only an 8% recall. Netmeds with Kareena Kapoor and Renuka Shahane had a good 9% recall. Priyanka Chopra’s Appy Fizz and Katrina’s Slice were almost not recalled. Hema Malini managed 3% recall on Kent RO. Randhir Kapoor’s Asian Paints managed 4% while Kareena Kapoor’s and Pankaj Tripathi’s Berger creatives both got below 1%. Ayushmann was remembered by less than 1% in Urban Company. Gajaraj Rao was mentioned in less than 1% for Voltas. Unacademy featuring Sunil Gavaskar and Harsha Bhogle too scored poorly at 2%. Gamezy featuring KL Rahul got less than 1% recall. On the ads without celebrities, the most remembered were Phone Pe (32%), Byju’s (31%), Vivo (22%), One Plus (21%), Groww (20%), Upstox (20%), Kia (19%), MPL (18%), Bisleri (11%), PharmEasy (11%), Thums Up(9%), Coca Cola (6%), Renault Kiger (6%), Tata Safari (6%), Skoda (3%), Ajio (3%), Dark Fantasy (2%), LikedIn (2%), Raymond (2%) and Tuborg (1%). As more gets added to the broadcast as the IPL progresses, both standings of celebrities and recall of brands may change.

Ranveer Singh and MS Dhoni are the most recalled brand ambassadors this IPL: IIHB Report

<ul><li>There are several founder-turned-investors in the Indian startup ecosystem too. </li><li>Here are the qualities that makes a startup founder a good investor. </li></ul>There are many like Sachin Bansal and Binny Bansal – who are extending the list of <keyword id="1303404" type="PERSON" weightage="20" keywordseo="startup-founders">startup founders</keyword> who are turning <keyword id="6359051" type="UNKNOWN" weightage="20" keywordseo="investors">investors</keyword>. Vijay Shekhar Sharma of Paytm who is still running his company, is also an active angel investor with over 20 investments. Being a celebrity founder like Sharma and the Bansal founders or even Kunal Shah of Freecharge fame, Kunal Bahl of Snapdeal, Bhavish Aggarwal of Ola, also adds weight to an investor’s journey. Having been through several rounds of funding while building a startup, a founder-turned-investor can see through the pros and cons of investing in a company. Manish Singhal who co-founded LetsVenture.com, is now running Pi Ventures – lived the life of an entrepreneur as well as an investor. Being a founder exposes you to issues that a startup faces, he believes. “You relate to the founder challenges a bit better. If you have built a deep technology product, it also becomes easy to appreciate their technology as well as value addition,” said Singhal. However, that’s not the only thing that can turn a founder into an investor. Mukul Arora of SAIF Partners believes that along with the unique perspective of running a business, a founder-turned-investor must bring more to the table. “That is 20% of what is needed to be an investor, so if founders come in with a mindset that there is an 80% left for which I will have to unlearn and relearn, they can become good investors. Just being a founder is not sufficient, you have to be hardworking and hungry to learn a lot,” said Arora. He added that while in the US there have been many such examples, the Indian startup ecosystem is not yet mature. Being a founder, one also tends to have the habit of creating new products. A VC enables products and not creates them. That is an understanding a founder needs to have before turning into a VC, adds Singhal. “Founders can have strong viewpoints but as an investor it’s also important to have flexibility,” said Singhal.

Here's how startup founders can become good funders

<ul><li>Edtech unicorn Byju’s has turned profitable in 8 years. </li><li>The startup has reported a revenue of ₹14.3 billion for FY18-19. </li><li>It’s online paid user base now stands at 2.4 million.</li></ul>India’s first edtech unicorn Byju’s has achieved yet another of its firsts – it has reportedly turned profitable. The startup <a href="https://tech.economictimes.indiatimes.com/news/internet/byjus-claims-to-have-tripled-its-revenues-to-rs-1430-crore-in-fy19/69583803">reported</a> that its revenue has tripled to reach ₹14.3 billion in the financial year ending March 2019, though it has not shared the net profit numbers. However, these swollen revenues come at the back of increase in its paid user base, which now stands at 2.4 million. This number has doubled from last year, when it stood at 1.26 million in June 2018. The ability of this online tutorial startup to capture paying public, enabled its entry into the super exclusive profiteers club. “The growth in revenue was fuelled by deeper penetration across India and significant growth in the number of paid subscribers,” said the <a href="https://www.business-standard.com/article/companies/byju-s-turns-profitable-in-8-years-gears-up-to-enter-us-in-a-big-way-119053100043_1.html">company</a>’s statement. While it has never officially reported it, Byju’s has reached breakeven last year, within eight years of its existence. Global Ambitions It now plans to enter the global market and more specifically, the US. Recently, Byju’s acquired a US-based platform for educational games for $120 million. It is also partnering with Walt Disney to introduce a new early learning app for kids. Byju’s last <a href="https://yourstory.com/2019/03/byjus-funding-general-atlantic-tencent-2yv8bkk19e">reported</a> valuation was at $5 billion after it raised funding of ₹214 crores (MILLION) in March 2019. The investment came from NY-based General Atlantic and Chinese VC firm Tencent. The eight-year old startup was founded by a teacher named Byju Raveendran. Over the years, the startup has steadily gained popularity and had even signed bigwigs like Bollywood’s Shah Rukh Khan and Telugu superstar Mahesh Babu as brand ambassadors. See Also: <a href="https://www.businessinsider.in/byjus-and-disney-partner-to-roll-out-early-learn-app/articleshow/69532987.cms">Byju's will now teach kids using Disney characters from Frozen and Cars</a> <a href="https://www.businessinsider.in/Sachin-Bansal-rides-a-bet-on-electric-bike-startup-Ather-Energy/articleshow/69546251.cms">Sachin Bansal rides a bet on electric bike startup Ather Energy</a>

Byju's turns profitable as millions pay for its classes

The Delhi chapter of <keyword id="139680" type="COMPANY" weightage="20" keywordseo="The-Indus-Entrepreneurs">The Indus Entrepreneurs</keyword> (TiE) will host on Thursday the 8th iteration of the <keyword id="4390638" type="PERSON" weightage="20" keywordseo="India-Internet-Day">India Internet Day</keyword>, one of the largest conferences for Internet entrepreneurs in the country. India Internet Day 2019 targets entrepreneurs which attracts start-ups, unicorns, industry leaders, investors, mentors, policy-makers, and many more key domain experts from across the country every year India is presently home to over 500 million internet users and 21 unicorns. With the aim of raising a hundred start-ups and enterprises to become billion-dollar companies on the back of their internet-centric innovations, TiE Delhi-NCR is hosting the 8th iteration of India Internet Day. The vision of #iDay2019 is encapsulated in the headline of the event’s main theme: “India Internet Unboxed: Getting ready for a 100 Unicorns”. Enabling the next generation of leaders At iDay 2019, leaders of the internet and entrepreneurial community will deliver content for the benefit of young entrepreneurs, enabling the next generation of leaders to gain a deeper insight into the opportunities and evolving trends in the industry, Tie said in a statement. Building on the theme of ‘unboxing’, iDay2019 plans to have focused and thought-provoking discussions during the session line-up on topics including: Unboxing Indian Tech Going Global, Unboxing Funding, Unboxing Talent, Entrepreneurial Milestones: Unboxing Pivots &amp; Pirouettes to Exits, Unboxing 2nd Innings, Unboxing Valuations. It will also have a special focus on the Chinese startup ecosystem, key speakers will speak on Unboxing China, its Landscape &amp; Overview, Chinese VCs in India - A perspective and Cross Border Learnings. Additionally, entrepreneurs will be provided with a platform to showcase internet-centric innovations and get constructive feedback on their ventures. All about networking The conference is one of the most anticipated entrepreneurial conferences across the world as it gathers entrepreneurs and vision-holders in the midst of key investors, industry leaders, and policy-makers under the same roof. It will have sessions that will chaired by prominent industry leaders including Vani Kola, MD, Kalaari Capital, and Rajesh Sawhney, CEO &amp; Co Founder of Innerchef, the conference will open with a keynote address by Vijay Shekhar Sharma, Founder &amp; CEO of PayTM. The opening address will be followed by conversations with industry experts including Anant Maheshwari, President - Microsoft India and Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR. Other ace speakers include Lathika Pai, Country Head - Microsoft for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword> MENA and SAARC , Gaurav Deepak, Co-founder &amp; MD - Avendus Capital, Anand Lunia, General Partner – India Quotient, Helen Wong, Partner at Qiming Venture, Yun Lou, Founder &amp; CEO of Clubfactory, Hans Tung - Partner, GGVC Kunal Shah, Founder &amp; CEO – Cred, Amrish Rau, Ex CEO – CitrusPay, Aprameya Radhakrishna, Founder &amp; CEO of Vokal, Raul Rai, Co-Founder of Nicobar.com, and Mukund Kulashekaran from Urban Clap. Power Breakfast with the iDay Committee The event will kick off with a breakfast with industry leaders and the best in the startup ecosystem. The committee members who will be a part of this event include Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR; Alok Mittal, Co-Founder, Indifi Technologies; Amarjit Singh Batra, Managing Director, Spotify India; Arvind Jha, Multipreneur, Movico Technologies; Miten Sampat, VP, Times Internet; Deep Kalra, Founder &amp; Group CEO, MakeMyTrip; Gautam Gandhi, Angel Investor; Prasanto K Roy, Policy Consultant ; Karan Mohla, Partner &amp; Executive Director of Chiratae Ventures; Ravi Gururaj, Founder &amp; CEO, Qikpod; Dev Khare, Partner, Lightspeed India Partners. B2B Founders' Lunch Ace B2B founders who will be part of this session include Shridhar Gupta, Co-Founder - Loconav; Pranav Tyagi, Founder - Eigen; Ajay Chauhan, Co- Founder -SalezShark; Sachin Bhatia, Co-Founder &amp; Ex VP - Drishtisoft solutions; Rahul Bhalla, CEO &amp; Co Founder -Zeanatix will be part of the lunch tables Fintech Lunch Leading Fintech founders who will be part of the lunch include Ajay Vikram Singh, Consumer Business Head- Clix Capital ; Jonathan Bill, CEO &amp; Co- Founder – Creditmate; Kshitij Puri, CEO &amp; Co- Founder - Ziploan ;Sandeep Srinivas, Co-Founder &amp; CMO - Redcarpet Tech ; Kapil Mehta, Co - Founder – SecureNow; Alok Bansal, Co-Founder &amp; CFO – PolicyBazaar ; Mukesh P Kalra, Founder &amp; CEO – ETMoney #iDay Launchpad A platform at India Internet Day where tech businesses have a chance to demo/launch their new products/services in front of a large relevant audience of VCs, entrepreneurs etc. The start-ups will be selected by an influential jury panel #iDay Workshop A stellar workshop on product management professionals with Anshumani Ruddra, VP of Product (Social &amp; Gaming) – Hotstar will equip participants with new strategies &amp; principles to ace their field Gala Evening Network, interact, explore synergies over dinner and jive the evening away with a rocking band performance! The conference will take place from 8:00 am to 6:00 pm on 25th April, 2019, at Leela Ambience, Gurugram. Register here now! <a href="https://www.iday.in/">https://www.iday.in/</a> Note: Business Insider India is a media partner at the event.

Here’s all that you need to know about the upcoming India Internet Day 2019

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">NTB Scanpix/Heiko Junge/via REUTERSCEO of Tesla Motors Elon Musk attends an environmental conference at Astrup Fearnley Museum in Oslo, Norway April 21, 2016.</div></div></div>Investors may be finally turning their backs on Elon Musk. Musk's electric car company, <a href="http://www.businessinsider.com/tesla-made-offer-to-buy-solar-city-2016-6">Tesla, made an offer on Tuesday to</a> buy Musk's solar-power company SolarCity.Up until now, Tesla is a company that's been loved by investors - for the most part - while SolarCity has been loathed.But the tables turned on Wednesday, when Tesla shares dropped 10% on the heels of the news. SolarCity's shares, meanwhile, rose just 5% - even though Tesla's offer is something closer to 30% above its current stock price.And by the end of trading on Wednesday, a key measure of investor confidence in the deal's success - the gap between SolarCity's shares and the value of Tesla's offer, stood at about 18%.Another way to put this? There's no confidence in this deal right now."The market probably doesn't think the deal is going to get done," said Sachin Shah, a merger-arbitrage strategist at Albert Fried &amp; Co.This is in small part simply because right now Tesla's offer is just that, an offer. There's a lot of negotiating to do before we know what the actual deal terms will be."They don't know what the exchange ratio is - they don't know what the implied price will be," Shah said.But some concerns are much bigger than just uncertainty about the deal terms. Tesla investors will vote on the offer, and they're worried about the impact of this deal on Tesla's balance sheet (SolarCity needs cash to fund its business, and Tesla needs cash to build its cars).<div class="KonaFilter image-container display-table"><div><div class="image on-image">Tesla Motors</div></div></div>They also don't love the closeness of these two companies. Musk is the primary shareholder of both, and his cousin is CEO at Solar City. (They will, its worth noting, recuse themselves from votes on the matter at the board level and shareholder level).There's other reasons to wonder why Tesla has to be saddled with a cash burning solar-panel financing company. Musk laid out a vision of product integration that looks something like this: use the SolarCity panels to power your home, use Tesla's batteries to store that power, and use some of that power to charge up your electric car. No fossil fuels required, ever.<a href="http://www.businessinsider.com/wall-street-analysts-on-teslas-offer-for-solarcity-2016-6">But as Business Insider's Akin Oyedele reported</a>, Wall Street's analysts are questioning whether Tesla should be pursuing this deal while it still struggles to get its part of this enterprise - building the cars - right.Of course, there is an argument to be made that this doubt is an opportunity. In fact, assuming a deal is reached and progresses toward completion, there's a return of something like 18% for traders willing to bet on that.But if Musk is going to rally investors behind his deal, he's going to need the support of his legions of fans: the investors who readily pony up cash every time Tesla looks to raise a few billion dollars, and who believe in his long-term vision of creating a company that changes everything about the way we consume energy - not just with cars, but in our homes and workplaces as well.Even there, though, he seems to be trying their patience. A noted Tesla bull - so much so that he's been criticized for his willingness to think about how the company will change everything about how we drive - is Morgan Stanley's Adam Jonas. He has a $333 price target on Tesla shares and here's what he said: <div title="Page 2"><div><div>"The potential upside to our $333 price target is dominated by our views of Tesla's potential to be a market leader in a shared, autonomous electric <keyword id="34991" type="ORGANIZATION" weightage="60" keywordseo="transportation">transportation</keyword> ecosystem at an intra-city and inter-city level. It is not currently clear to us that an acquisition of SolarCity improves the odds of success for this endeavor."</div></div></div>If Musk has lost Adam Jonas, then he might be about to lose everyone. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hugh-hefner-son-cooper-playboy-mansion-sale-2016-6">Hugh Hefner's son reacts to the sale of the Playboy Mansion</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="A3aWwwNDE6JhQ99gtsV_5KWDFsTjBJld" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Wall Street is turning its back on Elon Musk

The growth slowdown of the past few years doesn't seem to have taken the edge off India Inc’s appetite for profit. As many as 18 companies are poised to join the club of those reporting $1 billion in net income in FY14, the highest in the past six years, keeping the rupee-dollar rate constant at current levels. While this is just one more than last year, the number is significant in the context of India’s prolonged slump. ONGC and <keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> occupy the top two berths in that order while <keyword id="6357585" type="CITY" weightage="40" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> replaces Coal India at the third place that it occupied last year. According to an ETIG analysis, 18 companies are expected to cross Rs6,100 crore or $1 billion in profit in FY14 against only four in FY08. 
 The tally is also higher than the 13 companies that made it to the $1 billion club in FY08 even after considering the rupeedollar rate of 40 prevailing at the end of that fiscal year. “Inflation, rupee depreciation and commodity price increases, while hurting the <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword>, have also benefited certain sectors," said P Phani Sekhar, fund manager, portfolio management services, Angel Broking. Sekhar added that consumer-facing businesses have benefited from price increases. “One of the primary characteristics of the inflationary conditions that prevailed from 2009-14 has been the propensity to consume at the altar of savings.” 
 
The nature of companies that are members of the club has also changed significantly over the years. In FY08, of the four companies that crossed Rs6,100 crore in profit, three belonged to the public sector with RIL being the only non-state entity. In FY14, 13 out of 18 companies will likely be from the private sector. “In the last 5-6 years (since FY08), Indian domestic manufacturing industry has suffered a slowdown,” said Sachin Shah, fund manager, Emkay Investment Managers. 
 
 
 
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 “On the other hand, the domestic services sector and export-oriented businesses have done reasonably well. And this is the primary reason why companies like ONGC, RIL, <keyword id="45179" type="CITY" weightage="40" keywordseo="NTPC">NTPC</keyword> have taken a back seat and companies like TCS, Infosys, <keyword id="10862" type="CITY" weightage="40" keywordseo="Wipro">Wipro</keyword>, <keyword id="42747" type="CITY" weightage="40" keywordseo="Tata-Motors">Tata Motors</keyword> (JLR), HDFC Bank, <keyword id="6653" type="CITY" weightage="40" keywordseo="ICICI-bank">ICICI Bank</keyword> have done reasonably well.” 
 Considering the rupee’s appreciating trend and the expectation of a recovery in the domestic economy after the general elections, some analysts believe the number of billion dollar profit companies will be maintained in FY15. “I don't see any reason why the number of Indian companies reporting $1 billion or more of profits per annum should fall given that the <keyword id="6356076" type="UNKNOWN" weightage="40" keywordseo="indian-economy">Indian economy</keyword>, even in a recession, continues to grow at 13% per annum (on a nominal basis),” said Saurabh Mukherjea, CEO, institutional <keyword id="45369" type="CITY" weightage="40" keywordseo="equities">equities</keyword>, Ambit Capital. “If anything, given that the informal segment of the economy is being relentlessly squeezed by better organized, listed companies, we should see a sharp pick-up in billion dollar or more profit reporters in the years ahead.” 
 A sustained growth revival could see more companies joining the club in subsequent years. “We are expecting 16% earnings growth in <keyword id="6484188" type="CITY" weightage="40" keywordseo="Sensex">Sensex</keyword> earnings for FY15, (so) $1 billion PAT (profit after tax) companies would largely remain the same," said Rikesh Parikh, vice-president, institutional corporate broking, Motilal Oswal Securities. “However, afew more companies could make their mark in FY16 in case of economic revival.” The top three IT companies, including TCS, Infosys, and Wipro, will figure in the list for FY14 as well following sustained momentum in global IT outsourcing demand and the weaker rupee. 
 “Export-oriented sectors such as IT have benefited from 33% depreciation in the rupee against the dollar," said Sekhar of Angel Broking. Bharat Heavy Electricals (<keyword id="6354446" type="CITY" weightage="40" keywordseo="BHEL">BHEL</keyword>) is likely to miss the list this time around, considering the public sector electrical engineering giant’s poor show in the first nine months of FY14, when net profit halved to Rs 1,616 crore from Rs 3,377 crore a year earlier. It’s unlikely that the company will be able to exceed last year's profit of Rs 6,614 crore. Axis Bank is expected to debut in the club in FY14, given its double-digit net profit growth in each of the three quarters of the fiscal year so far. It has clocked a profit ofRs4,375 crore in the nine months and is likely to cross the Rs6,100 crore mark by the end of the March quarter.

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