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<ul><li><keyword id="381854" type="COMPANY" weightage="20" keywordseo="Indiamart">IndiaMART</keyword> has posted a moderate performance for the second quarter of the current financial year.</li><li>In an interview with Business Insider, <keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword>, CEO, IndiaMART said that the COVID impact hasn’t completely worn off and also spoke about <keyword id="10142986" type="UNKNOWN" weightage="20" keywordseo="JD-Mart">JD Mart</keyword>'s launch.</li><li>Agarwal said that one of the biggest differences has been that the lockdown has resulted in a 30-40% growth in their buyer side traction. </li></ul>Indian Business-to-Business e-commerce platform IndiaMART has clocked in moderate performance for the second quarter of the current financial year. Its revenue from operations rose 4% at ₹163 crore, while its consolidated EBIT stood at ₹77 crore, up 147% on a year-on-year basis. Its net profit shows an eight-fold surge, but IndiaMART CEO Dinesh Agarwal attributed that as a one-time jump due to a tax readjustment last year. On a quarterly basis, its profit fell by 6%, resulting in a marginal dip in its share price on Tuesday. However, IndiaMART’s share price has more than doubled during the quarter. <div type="image" title="Indiamart shareprice" msid="79150444" hostid="261"></div> Competition is rising for the country’s oldest e-commerce platform IndiaMART, with <keyword id="6436290" type="UNKNOWN" weightage="20" keywordseo="just-dial">Just Dial</keyword> launching its B2B e-commerce platform, and the push from Amazon and Flipkart in the B2B space. Competition from JD Mart Justdial – the 24-year old local discovery platform –- is set to launch its own B2B (business to business) marketplace called JD Mart. This will be in direct competition to IndiaMart, which has had an <a href="https://www.businessinsider.in/business/news/justdial-jd-mart-challenges-indiamart-oldest-ecommerce-after-24-years/articleshow/78781834.cms">unchallenged run for 24 years.</a> But Agarwal isn’t worried about competition from JD Mart, at least not right away. “There are various kinds of B2B businesses and there are players like Amazon, Walmart. Let us see what JD Mart comes up with,” he said. Agarwal said that you can build a feature, but the kind of data, insights and algorithms IndiaMART has put together over the years can’t be launched overnight. “It will be a 3-5 year journey and at the end of it the buyers and sellers will see who offers a better value proposition to them. For any new player to do sales is one thing, but getting the product right is a long term plan. We didn’t build IndiaMART over a couple of quarters. Just Dial is a great company and I’m sure they will find something new, some day,” said Agarwal. Still dealing with the COVID impact During an interview with Business Insider, IndiaMART CEO Dinesh Agarwal explained the two main changes that the company dealt with during the second quarter. “There has been a definite shift in online adoption and the second, the kind of fear everyone had in mind initially has gone away. So, the overall economy has started to move on from June,” he said. Agarwal added that the COVID impact hasn’t completely worn off as 20% industries listed on IndiaMART continue to struggle while 30-49% of them are doing better than pre-COVID time too. <div type="image" title="IndiaMart revenue" msid="79150466" hostid="261"></div> One of the biggest differences has been that the lockdown has resulted in a 30-40% growth in their buyer side traction. “The number of buyers have gone up and their repeat rates have also gone up. Our number of buyers has gone up 30-40% from last year and the repeat rate from those buyers has gone up from 55% to 60%, which has further strengthened our network effect,” he said. <div type="image" title="Indiamart chart." msid="79150475" hostid="261"></div> With the economy opening up, offline retail once again poses competition to IndiaMART. Agarwal agrees but adds that the adoption of online seen in April, May and June is higher than ever before, and the impact continued even in the second quarter. “Even if 5% of people go back to offline, the new normal of the internet has happened and it’s not going to vanish,” he said. However, IndiaMART’s seller subscribers are yet to reach its pre-COVID levels and Agarwal believes it will take four-five months for them to completely get back to normal. Betting on tech and AI Agarwal understands that most of his buyers come from smaller cities for whom ‘search’ and using correct English might not be the first option. And that’s why IndiaMART continues to invest in voice search, AI/ML and language options for sellers and buyers. “For example, even if you write 300 different spellings of jewellery on IndiaMART, you will still get the right result,” he said. And that’s why the company doesn’t shy away from tech investments. Of IndiaMART’s total expenses, 20% of it goes into investing in products and technology. And out of the 4500 employees, 20% of them are in product and technology. SEE ALSO: <a href="https://www.businessinsider.in/business/news/justdial-jd-mart-challenges-indiamart-oldest-ecommerce-after-24-years/articleshow/78781834.cms">India’s oldest e-commerce platform is bracing for its first direct challenge in 24 years as Justdial ups its game</a>

INTERVIEW: IndiaMart founder Dinesh Agarwal responds to the incoming challenge from JD Mart

<ul><li>In June 2019, <keyword id="5802502" type="COMPANY" weightage="20" keywordseo="IndiaMart-Intermesh">IndiaMART InterMESH</keyword> debuted in the stock market with a listing price of ₹973. Now, it has risen to almost 10 times that number.</li><li>In an interview with Business Insider, <keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword>, founder and CEO, <keyword id="381854" type="COMPANY" weightage="20" keywordseo="Indiamart">IndiaMART</keyword> said that 15% of the company is owned by employees, past and present.</li><li>IndiaMART today has over 119 million registered buyers, and Agarwal claims that more than half of them are repeat buyers. </li></ul>In June 2019, IndiaMART InterMESH, backed by Intel Capital, Amadeus and Accion, debuted in the stock market with a listing price of ₹973. On Friday, it rose to almost 10 times that number to ₹9,925 . In the last one year alone, the value has multiplied nearly 4 times. While celebrating the big milestone, founder Dinesh Agarwal shared that 15% of the shares are held by IndiaMart employees, past and present. So, roughly 600 people today own 15% of IndiaMART which at today’s value, you can imagine, is almost ₹4,000 crore. I think that is a great feeling,” Agarwal told Business Insider. <div type="image" title="INDIAMART SHARE (1)." msid="80743963" hostid="261"></div> IndiaMART InterMESH which is the parent company for Indiamart.com – one of the country’s biggest online marketplaces for businesses – is one of the country’s oldest e-commerce ventures that started in 1999. Promoters still own a little over 51% of the company. While the stock has gained nearly 10 times since listing, a bulk of that rip-roaring rally came in the last one year. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </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;">Gains in IndiaMART stock </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;">1 month </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;">27% </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;">3 months </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;">84.7% </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;">6 months </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;">209% </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;">1 year </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;">293% </td></tr></tbody></table> The stock is up over 27% in the last one month, thanks to the doubling of profit in the latest quarterly earnings. “It is a network-effect business, as many suppliers as we are able to add which are enabling discovery and communication between buyers and sellers. The incremental cost of getting an additional buyer or seller on the platform keeps getting lower,” Agarwal explained. IndiaMART today has over 119 million registered buyers, and Agarwal claims that more than half of them are repeat buyers. <div type="image" title="indiamart latest profits (1)." msid="80744001" hostid="261"></div> From initially being a search, discovery and matchmaking platform for buyers and sellers, the company has also seen its CRM (Customer Relationship Management tool) and messenger tool becoming dependable and it now calls itself a conversational platform as well. And there may be unlocking of more value in the near future. The company’s board has approved a proposal to raise ₹1,110 crore. “Once the shareholders approve, the approval is for one year. We will continue to invest in adding more businesses to the platform, along with new tools and features to make it easier for sellers and buyers to discover each other,” he said. Meanwhile, the promoter’s stake in IndiaMART has fallen marginally in the past year. While IndiaMART competes with TradeIndia.com, Alibaba India and ExportersIndia.com, it has a new competition from Just Dial’s JD Mart, with whom the Agarwal-led company is already in a legal tussle. IndiaMart had <a href="https://www.businessinsider.in/business/news/justdial-jd-mart-challenges-indiamart-oldest-ecommerce-after-24-years/articleshow/78781834.cms">taken JD Mart</a> to court over copyright violations. IndiaMart has alleged that JustDial has copied the website compilations of the company. While IndiaMART won a temporary injunction against JD Mart, the matter is still pending in court with the next hearing scheduled in April, said Agarwal. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-new-flagship-smartphone-expected-price-specification-and-launch-date-leaked/articleshow/80742720.cms">This could be the next OnePlus flagship smartphone</a> <a href="https://www.businessinsider.in/business/auto/news/apples-talks-with-hyundai-and-kia-for-autonomous-cars-may-have-crashed-early/articleshow/80742934.cms">Apple's talks with Hyundai and Kia for autonomous cars may have crashed early</a>

IndiaMart employees hit gold⁠— founder reveals that 15% of the multi-bagger stock is with 600 people who are, or have been, part of the team

<ul><li>The company, which listed nearly a year ago, posted a net profit of ₹74 crore in QFY21, up by 129% from ₹32 crore last year.</li><li><keyword id="381854" type="COMPANY" weightage="20" keywordseo="Indiamart">IndiaMart</keyword> founder <keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword> managed to do this even when what his company most depends on couldn’t move due to lockdown – field sales. </li><li>In an interview with Business Insider, Agarwal shares how the company posted profits even while things were looking bleak in the beginning of April. </li></ul>IndiaMart, one of India’s biggest online marketplaces for businesses, has achieved something that not many other companies have – during the lockdown quarter of April to June, the company has posted over a 100% jump in profits. The company, which has been listed for just a year now, posted a net profit of ₹74 crore in QFY21, up by 129% from ₹32 crore last year. This spurred a stellar rally with IndiaMart’s shares surging 8% to ₹2327 in morning trade.. <div type="image" title="indiamart share." msid="77102824" hostid="261"></div> And IndiaMart founder Dinesh Agarwal managed to do this even when what his company most depends on couldn’t move due to lockdown – field sales. For the 24-year old company, work from home had never been the norm and most of its revenue comes from its field sales. <div type="image" title="Indiamart." msid="77102708" hostid="261"></div> But Agarwal and his team were better prepared. From February itself they had anticipated a slowdown due to China shutting down, but a lockdown is not what they had expected. “We started figuring out as the demand for sanitizers and health essentials shot up. By the second half of March, our focus was on how to maintain business continuity and how to ensure employee safety while making sure the website was running and the call centre too was operational,” Agarwal told Business Insider. Quick thinking IndiaMart has always had ‘medical’ or healthcare as a category, but within the initial weeks of the coronavirus pandemic, Agarwal realised that it would become an on-demand category. And they were quick to turn things around. “We started calling up suppliers, did some innovative thinking. We called up bike helmet suppliers and asked them that since you have a helmet shield can you make face shields and they happily agreed. We went to undergarment manufacturers and asked them to make face masks. So, we really started to build category by category,” Agarwal said. <div type="image" title="Indiamart sellers and buyers." msid="77102721" hostid="261"></div> Variety of products available The platform has over 68 million product listings across 100,000 categories. “If you can’t find something on IndiaMart, you won’t find it on the internet,” Agarwal told us. But this variety of products available also pumped their revenue, because then companies weren’t just coming on the platform for finished products but also to discover certain elements like bottle caps, elastic among others. Agarwal believes this also keeps them different from their rising list of <keyword id="2771895" type="PERSON" weightage="20" keywordseo="b2b-ecommerce">B2B ecommerce</keyword> competitors – Amazon, Alibaba, Walmart wholesale, TradeIndia, ExportersIndia.com among others. “Our target is also different. The other companies focus on the top 2000 products, which are generally branded, in the FMCG sector. That’s not what IndiaMart is going after. From steel bars to trucks and everything in between is what IndiaMart sells,” he said. Balancing their costs and their customers’ too In the beginning of April, their revenues were completely down as most of their customers' business had hit pause – their buyer traffic was down by 50%. “Only one-third of our sales used to be from online or telecom,” said Agarwal. So, they went around looking at places where they can cut costs. They turned to automation of many processes and deferred plans that would have burnt a hole in their pocket. Agarwal said that while many employees offered to give up salaries, they didn’t lay off anyone. “We are a slow hiring company, so we didn’t want to fire anyone,” he said. But that wasn’t all. They also had to prepare for their customers, who were in a similar business situation. “We offered moratoriums to customers who said they won’t be able to pay,” he said. As the economy opened up, things started to look better and because of their initiatives, Agarwal says customers and buyers both saw value in IndiaMart. The new driver – tech IndiaMart, over the recent years, has turned to technology to add layers to its offerings. “We are enabling seller and buyer interaction with a CRM and have also become a price discovery platform for many buyers in India. Even if they don’t end up buying from India, we have been able to democratize prices for buyers,” he said. Out of their total expenses, 20% of it goes into investing in products and technology, while out of the 4500 employees, 20% of them are in product and technology. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/axis-bank-share-price-surges-over-6-after-earnings-reveal-that-only-9-7-of-its-loans-are-exposed-to-the-moratorium/articleshow/77100105.cms">Axis Bank share price surges over 6% after earnings reveal that only 9.7% of its loans are exposed to the moratorium</a> <a href="https://www.businessinsider.in/stock-market/markets/news/horlicks-helps-hul-share-price/articleshow/77100666.cms">Horlicks helps HUL clock a profit – but shareholders want more</a>

IndiaMart’s Dinesh Agarwal shares how the profit doubled during the lockdown

<ul><li>At 7:50 am, the SGX Nifty was up 0.52%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Monday, on the back of positive cues from the Asian peers. At 7:50 am, the SGX Nifty was up 0.52%, indicating a strong start for Nifty50. Other Asian markets were also trading in green such as — Hang Seng Index up over 1.1%, Nikkei 225 up 2% and Shanghai Composite Index was also up over 1%. These are the stocks to watch out for during the trading session today: Cipla The pharma giant Cipla reported a 38.95% jump in its consolidated net profit to ₹659.35 crore for the quarter ended September 30, led by the robust sales in all markets. The company said a sustained focus on cost optimisation during the quarter helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23%. The shares of Cipla ended 0.62% lower on Friday. ITC On Friday, Consumer staples-to-hospitality major ITC reported an 18.23% drop in its consolidated net profit to ₹3,413.44 crore. The drop came despite a 2.18% growth in its revenue from operations to ₹13,147.81 crore during the period under review. Its FMCG segment delivered a decent sales growth of 15.4% (YoY), but wasn’t enough to offset the volume decline of 12% in its cigarette segment. The shares of ITC ended 0.54% lower on Friday. Divi’s Labs Drug firm, Divi’ ’s Laboratories, reported a 45.63% rise in its consolidated net profit to ₹519.59 crore for the quarter ended September 30, mainly on account of robust sales. Consolidated total income stood at ₹1,762.94 crore compared to ₹1,492.60 crore for the same period a year ago. The shares of Divi’s Labs ended 0.40% higher on Friday. Biocon Kiran Mazumdar Shaw-led Biocon’s subsidiary, Biocon Biologics, had received a ₹1,125 crore investment from Goldman Sachs. This capital injection will enable Biocon Biologics to make prudent investments in R&amp;D, high-quality manufacturing, as well as, establish a global commercial footprint, the company said. The shares of Biocon ended 0.17% higher on Friday. Lakshmi Vilas Bank Private sector Lakshmi Vilas Bank (LVB) reported a net loss of ₹397 crore in the second quarter ended September 30 due to a rise in bad loans and provisions. Sequentially, the loss widened against ₹112.28 crore in the June quarter of this fiscal. The<a href="https://www.financialexpress.com/industry/banking-finance/made-significant-progress-with-clix-group-says-lakshmi-vilas-bank/2123468/"> bank also said</a> that despite logistical challenges arising due to the COVID-19 situation, the bank has made significant progress with Clix group for the proposed amalgamation of Clix Capital Service and Clix Finance India into the bank. The shares of Lakshmi Vilas Bank ended 0.64% higher on Friday. Voltas Electronics major Voltas reported 25.74% decline in consolidated net profit to ₹79.66 crore for the quarter ended September 30. The company also decided to restructure its business; it would transfer 100% of the B2B businesses to its wholly-owned subsidiary — Rohini Industrial Electricals Ltd (RIEL). The shares of Voltas ended 1% higher on Friday. Vedanta Vedanta reported a 61.8% decline in consolidated net profit to ₹824 crore for the quarter ended September 30, on the back of one-time tax expense. The decline came despite the stellar 33% growth in its revenue to ₹20,804 crore during the quarter under review. The shares of Vedanta ended 0.21% higher on Friday. Tata Consumer Products Tata Consumer Products reported an 18% rise in consolidated net profit to ₹234.33 crore for the quarter ended September 30, helped by an increase in domestic sales and volumes. Its revenue from operations was up 18.50% to ₹2,781.34 crore during the quarter under review. The shares of Tata Consumer Products ended 0.64% higher on Friday. IndiaMART InterMESH, Equitas SFB and VIP Industries IndiaMART InterMESH, Equitas SFB and VIP Industries are slated to report their second-quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-world-has-surpassed-50-million-confirmed-coronavirus-cases/articleshow/79116745.cms">The world has surpassed 50 million confirmed coronavirus cases</a> <a href="https://www.businessinsider.in/politics/world/news/this-is-the-time-to-heal-in-america-president-elect-joe-biden-uses-his-victory-speech-to-address-a-fractured-country/articleshow/79108211.cms">'This is the time to heal in America': President-elect Joe Biden uses his victory speech to address a fractured country</a>

Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others

<ul><li>The US stocks ended lower on Thursday as hopes of a US coronavirus stimulus deal and US jobless claims weighed heavy on the market. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed sentiments from the global markets, the Indian equities are likely to open flat on Friday. In the Asian market, the SGX Nifty was trading 0.73% higher at 7:51 am, indicating a positive start for Nifty50. However, the US stocks ended lower on Thursday as hopes of a US coronavirus stimulus deal and US jobless claims weighed heavy on the market. The Dow Jones Industrial Average slid 19.80 points, whereas the S&amp;P 500 fell 0.15%. These are the stocks to watch out for during the trading session on October 16: Mindtree Larsen &amp; Toubro (L&amp;T) owned Mindtree posted an 88% jump in its net profit to ₹253.7 crore for the second quarter ended September 30. The company’s revenue for the quarter stood at ₹1,926 crore, marginally up 0.6% year-on-year. The shares of Mindtree ended over 7% lower yesterday. IndiaMart InterMesh The Indian e-commerce company IndiaMart InterMesh has clarified that the media reports claiming potential investment opportunities from Tata Group were incorrect and purely speculative in nature. The shares of IndiaMart InterMesh ended flat yesterday. Persistent Systems The technology services company Persistent Systems said it has entered into an agreement to acquire the US-based CAPIOT Software for $6.34 million (₹465.42 million). The shares of Persistent Systems ended 6% lower yesterday. AstraZeneca Pharma India The drug major AstraZeneca Pharma India said it would launch its Acalabrutinib 100 mg capsules under the brand name ‘Calquence’ on October 21 — the drug is used for the treatment of various types of blood cancers. The shares of AstraZeneca Pharma India ended flat yesterday. Dhanuka Agritech The agrochemical company Dhanuka Agritech’s ₹100 crore buyback will open on October 20 and remain open until November 2. The shares of Dhanuka Agritech ended 2% lower yesterday. Sun Pharma The drug major Sun Pharma clarified to stock exchanges that it had not received any information or notice either from SEBI or anyone regarding the news of SEBI probe of its ex-board member Ashwin Dani. The shares of Sun Pharma ended 3% lower yesterday. Bharti Airtel Competition Commission of India approved completion of the first closing of the telecom giant Bharti Airtel subsidiary Nxtra Data to the Carlyle Group. The shares of Airtel ended 4% lower yesterday. Voltas, Symphony, Bluestar, among others The shares of Voltas, Symphony, Bluestar will also remain in focus during the trade today as the Indian government has banned the import of air conditioners with refrigerants. This move aims to push domestic manufacturing of such goods under a self-reliant India programme. HCL Technologies, Federal Bank, Tata Communications, Bajaj Consumer Care and others <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-second-quarter-to-see-a-boost-from-cloud-adoption-analysts-expect-it-to-breach-3-5-revenue-growth-guidance/articleshow/78685100.cms">HCL Technologies,</a> Federal Bank, Tata Communications, Bajaj Consumer Care among others are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-jones-ends-lower-for-third-day-as-weak-jobless-claims-stimulus-impasse-weigh-on-sentiment/articleshow/78692395.cms" data-type="tilCustomLink" style=""> Dow Jones ends lower for third day as weak jobless claims, stimulus impasse weigh on sentiment</a> <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-second-quarter-to-see-a-boost-from-cloud-adoption-analysts-expect-it-to-breach-3-5-revenue-growth-guidance/articleshow/78685100.cms" data-type="tilCustomLink" style="">HCL Tech's second quarter to see a boost from cloud adoption — analysts expect it to breach 3.5% revenue growth guidance</a> <a href="https://www.businessinsider.in/defense/news/border-infrastructure-is-not-the-cause-of-friction-between-india-and-china-says-mea-spokesperson/articleshow/78681546.cms" data-type="tilCustomLink">Border infrastructure is not the cause of friction between India and China, says MEA spokesperson</a>

Top stocks to watch — HCL Tech, Airtel, IndiaMart, Mindtree, AstraZeneca Pharma, Sun Pharma, Voltas, and others

<ul><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> today posted a whopping $11.1 billion net profit between Oct and Dec 2020, thanks to the performance from his Vision Fund.</li><li><keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword> said that SoftBank was like the goose that turned regular eggs into golden goose eggs and even broke into a little dance during his presentation.</li><li>SoftBank Vision Fund will now focus on AI (artificial intelligence) revolution, he said.</li></ul>Over the years, it’s not just SoftBank’s earnings reports that everyone waits for but also its founder Masayoshi Son’s quirky slides. If, in May 2020, Son’s slide about flying unicorns took the tech world by surprise, this time there was a little dance from Son himself, as he spoke of Softbank as the goose that laid golden eggs. SoftBank today posted a roaring $11.1 billion net profit in the third quarter thanks to the Vision Fund’s performance. During the last quarter, SoftBank sold over $2 billion worth stocks in Uber and also saw its companies like DoorDash going for an IPO. Those who track the company would have expected this but not followed it. <div type="twitter" handle="natfukue" handlename="Natsuko Fukue" image="http://pbs.twimg.com/profile_images/1016834487257202688/jh9rfX3E_normal.jpg" favoritecount="27" retweetcount="9" status="Masayoshi Son and dancing golden eggs🥚🥚🥚 https://t.co/lJVw0uletG" createdat="1612773340000" id="1358695984235094016"></div> Just as Son called Softbank as the “producer of golden eggs”, he broke into a dance. This isn’t the first time Son has used the goose and golden eggs analogy. He has described the Japanese investment firm’s portfolio in a similar manner first in <a href="https://www.ft.com/content/6c77fffa-7ba6-11e4-a695-00144feabdc0?ftcamp=published_links%2Frss%2Fcompanies%2Ffeed%2F%2Fproduct">2014</a> and then again in 2017. However, this was his first dance during an earnings conference. In May 2020, Son had referred to flying unicorns as companies from SoftBank’s portfolio which will be able to survive the COVID-19 pandemic. <div type="image" title="valley of coronavirus" msid="80750390" hostid="261" caption="&amp;lt;p&amp;gt;SoftBank&amp;#39;s famous flying unicorn slide from May 2020&amp;lt;/p&amp;gt;"></div> The companies that Son described as golden eggs are not founded by Softbank. It only funds them. This additional capital, and “a bigger vision” for the Softbank-funded firms, are the “turbochargers”, as Son put it, which turn a regular white egg into a golden one. <div type="image" title="sb2" msid="80750412" hostid="261"></div> Going forward, the SoftBank Vision Fund will focus on AI (artificial intelligence) revolution. “The biggest evolution is AI, the greatest advancement created by humankind,” said Son. SEE ALSO: <a href="https://www.businessinsider.in/international/news/masayoshi-son-says-china-crackdown-on-alibaba-is-nothing-different-than-antitrust-regulations-in-us-or-uk/articleshow/80749653.cms">Masayoshi Son says China's crackdown on Alibaba is nothing different than antitrust regulations in US or UK</a> <a href="https://www.businessinsider.in/business/news/indiamart-employees-hit-gold-founder-dinesh-agarwal-reveals-that-15-of-the-multi-bagger-stock-is-with-600-people-who-are-or-have-been-part-of-the-team/articleshow/80743945.cms">IndiaMart employees hit gold⁠— founder reveals that 15% of the multi-bagger stock is with 600 people who are, or have been, part of the team</a>

Watch Masayoshi Son get in the groove as Softbank’s ‘golden goose eggs’ followed his famous unicorn slide

<ul><li><keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword>, the founder and CEO of <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, and a long-time friend of <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> founder <keyword id="424838" type="PERSON" weightage="20" keywordseo="Jack-Ma">Jack Ma</keyword>, said that the Chinese crackdown on Alibaba is the same as anti-trust regulations that have existed since a long time in the US or European countries.</li><li>He said that in China, internet companies had a free hand, where they could do whatever they wanted.</li><li>The regulators in Beijing have cracked down upon Alibaba and Ant Group, and the companies Ma founded are currently facing an antitrust probe for alleged monopolistic practices.</li><li>Son said he also has been in touch with Ma but hasn’t talked about business.</li></ul>Masayoshi Son, the founder and CEO of SoftBank, and a long-time friend of Alibaba founder Jack Ma, today said that the Chinese government crackdown on Alibaba is the same as anti-trust regulations that have existed since a long time in the US or European countries. Whereas in China, according to Son, internet companies had a free hand, where they could do whatever they wanted. “In the US, Europe or Japan antitrust policy is something that’s already there. In financial business, there’s the banking law, securities law, there are many rules and regulations. Within this framework you operate your business in a healthy manner. As you see some incidents or accidents, you learn lessons from there,” Son said during the <keyword id="2582588" type="PERSON" weightage="20" keywordseo="SoftBank-earnings">SoftBank earnings</keyword> call. The SoftBank founder added that these rules are necessary to protect the citizens of China as internet companies become bigger. The regulators in Beijing have cracked down upon Alibaba and Ant Group, and the companies Ma founded are currently facing an <a href="https://in.reuters.com/article/china-antgroup/china-launches-probe-into-alibaba-for-suspected-monopolistic-behaviour-idUSKBN28Y05T">antitrust</a> probe for alleged monopolistic practices. Earlier in November 2020, Alibaba and Ant Group's $34 billion initial public offering (IPO) was suspended by the <a href="http://www.sse.com.cn/disclosure/announcement/general/c/c_20201103_5253315.shtml">Shanghai Stock Exchange</a>. Ant Group, touted to be the world’s biggest IPO, was scheduled for a dual listing on November 5 — on Shanghai and Hong Kong bourses and it was halted in China with less than 48 hours to go. Jack Ma, whose net worth is $60.7 billion, according to Forbes, was under scrutiny by the government of China, had not been seen in public for several weeks, until recently. On asked whether Son had had any communication with Ma, the SoftBank founder said that the Alibaba founder likes to draw and has been sending him drawings. “Before I go to bed, now I also draw but I haven’t shown them to him yet. We don’t always talk about business, we also talk about hobbies, or just send regards,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indiamart-employees-hit-gold-founder-dinesh-agarwal-reveals-that-15-of-the-multi-bagger-stock-is-with-600-people-who-are-or-have-been-part-of-the-team/articleshow/80743945.cms">IndiaMart employees hit gold⁠— founder reveals that 15% of the multi-bagger stock is with 600 people who are, or have been, part of the team</a> <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-new-flagship-smartphone-expected-price-specification-and-launch-date-leaked/articleshow/80742720.cms">This could be the next OnePlus flagship smartphone</a>

Masayoshi Son says China's crackdown on Alibaba is nothing different than antitrust regulations in US or UK

<ul><li><keyword id="430602" type="General" weightage="20" keywordseo="justdial" source="Orion">JustDial</keyword>’s operating revenue declined 6% last quarter compared to the same time period last year.</li><li>This comes as a surprise as the festive season of October-December quarter is usually the best time for any consumer-facing business.</li><li>While the recent management change after Reliance acquisition may be one reason for the recent decline, over-diversification may be another.</li></ul>While many other digital businesses like Zomato, Nykaa and Paytm have recovered from the impact of COVID-19 a long time ago, JustDial seems stuck. Market watchers say it could be because the app is trying to be Google, without the resources to be one. Once again, JustDial's quarterly revenue declined on a year-on-year basis, which is a cause of concern since October-December quarter is usually the best time for any consumer-facing business. It is the time when customers are on a spending spree because of the festive season of Diwali and Christmas. However, the decline in JustDial’s operating revenue came as a surprise, especially when the company seems to offer every service that can be sold online. The stock was down over 3% on January 19, the first trading day after the earnings were reported. <div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89011002" hostid="261"></div> From food to flight tickets, from delivery services to at-home beauty services, you name it and JustDial would have a seller on its platform. Yet, the revenue declined. Market watchers say, being a jack of all trades may not be working well for this 26-year-old company. Neha Khanna, director at Value Prolific (ValPro) Capital, tells Business Insider that JustDial has spread itself too thin and it has made it susceptible to competition from all sides. <div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89010548" hostid="261"></div> JustDial — which offers at least 14 different services — is currently in competition with all the big newage digital businesses one can think of. Few examples include Paytm, BharatPe, Google Pay, PhonePe and others for its payments/fintech business, BigBasket for its grocery delivery business, Zomato and Swiggy for food delivery business, and Urban Company for at-home services vertical. <div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89013326" hostid="261"></div> This stands true that JustDial is a discovery business, therefore, it simply has to sign up vendors/professionals willing to offer the service. It is still not doing the company any favour. “Google has taken away their core offering [of services discovery], and other players are emerging much stronger in different verticals,” Khanna says while explaining the knots in JustDial’s business. Yash Gupta, Equity Research Analyst at AngelOne, tells Business Insider that the nominal decline in JustDial’s business in the third quarter could also be attributed to the recent<a href="https://www.businessinsider.in/business/corporates/news/just-dial-share-price-surge-as-mukesh-ambani-is-looking-to-buy-just-dial/articleshow/84432450.cms"> management change</a> after the Reliance Retail acquisition. There is usually a dull period for the stock due to cleaning of the balance sheet, he notes. But that could only be a part of the reason. Gupta explains that JustDial is a ‘pull’ sort of business model, where they need to go to customers and get them to start paying for its services. Meanwhile, other companies — such as Zomato, Swiggy, and even Google — where customers come on their own. This becomes the first challenge for the company. Secondly, the failure of JD Mart — the business-to-business (B2B) ecommerce marketplace of JustDial — to do anything substantial in the three quarters has further disappointed the people who keep track of this space, Gupta added. JD Mart competes with IndiaMart, which has been <a href="https://www.businessinsider.in/stock-market/news/indiamart-share-price-has-gone-up-five-times-in-just-the-last-18-months-here-is-why/articleshow/86058084.cms">reporting higher revenue </a>than JustDial for the past two years by focusing on B2B ecommerce. The crux of all these problems is over-diversification that prevents it from going big in one segment, Gupta says. They would have done much better if they focused on one vertical, he adds. ALSO WATCH: A ₹3,000 crore fund manager says even conglomerates in India struggle the moment they have more than two verticals ⁠⁠ <div type="Youtube" id="kSf5f3gXjKg" title="A ₹3,000-crore fund manager explains why he won&amp;#39;t buy RIL, why he sold ITC and bought HDFC Life" thumbUrl="https://i.ytimg.com/vi/kSf5f3gXjKg/mqdefault.jpg"></div> The common thread running in what both Valpro and AngelOne analysts are saying is the fact that both have not been able to figure out why Reliance decided to acquire JustDial. “I don’t really see any value proposition for Reliance in JustDial,'' says ValPro’s Khanna. Things can become clear one Reliance unfolds its plan for JustDial, AngelOne’s Gupta adds. <div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89013331" hostid="261"></div> SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/cred-expands-esops-pool-to-500-million-employees-can-own-12-5-of-fintech-startup/articleshow/89010053.cms">CRED says that all its employees get stock options, expands pool to $500 million</a> <a href="https://www.businessinsider.in/stock-market/news/hul-bajaj-auto-lampt-infotech-and-other-hot-stocks-on-january-20/slidelist/89008387.cms">HUL, Bajaj Auto, L&amp;T Infotech and other hot stocks on January 20</a> <a href="https://www.businessinsider.in/india/news/indias-daily-covid-19-count-surpasses-three-lakh-after-eight-months/articleshow/89009476.cms">India’s daily COVID-19 count surpasses three lakh after eight months, Omicron tally climbs to 9,287</a>

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