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<ul><li><keyword id="15296199" type="General" weightage="80" keywordseo="skippi-ice-pops" source="Orion">Skippi Ice Pops</keyword> turned the humble chuski, an ice pop, into a multi-crore business, with monthly sales skyrocketing from ₹5 lakh to ₹2 crore after appearing on <keyword id="1417364" type="General" weightage="80" keywordseo="shark-tank" source="Orion">Shark Tank</keyword> India. </li><li>The company’s co-founders, Ravi and Anuja Kabra, bagged an all-shark deal in Shark Tank India’s first season, raising ₹1 crore in the process. </li><li>From launching <keyword id="15974786" type="General" weightage="50" keywordseo="skippi-freezer-bike" source="Orion">Skippi Freezer Bike</keyword> to make ice pops more accessible to planning to raise an additional ₹4 crore, here’s what <keyword id="15974785" type="General" weightage="100" keywordseo="skippi" source="Orion">Skippi</keyword> Ice Pops has been up to since its appearance on Shark Tank India. </li></ul>Turning the humble street-side chuski into a multi-million business is not easy, but that’s exactly what the Hyderabad-based couple Ravi and Anuja Kabra achieved with Skippi Ice Pops. Last year, Skippi emerged as the first venture on Shark Tank India to onboard all the sharks, bagging investment from all the five sharks totaling to ₹1 crore, for 15% equity. Lenskart founder <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword> went ahead and further bumped up the total investment to ₹1.2 crore. Founded just before the Covid-19 pandemic struck in 2020, Skippi Ice Pops has taken Indians’ love for chuskis and turned it into a successful business. The company has launched ice pops in six flavours – raspberry, orange, mango twist, bubblegum, cola, and lemon. Post the Shark Tank India appearance, Skippi Ice Pops’ sales skyrocketed – <a href="https://www.instagram.com/p/CdaP4ngvEfw/">according</a> to Ashneer Grover, co-founder BharatPe and one of the sharks to have invested in the company, Skippi’s sales grew 40x. He called it “probably the biggest success story” of the show at the time. After Shark Tank, the company claimed that its monthly <a href="https://skippi.in/pages/about-us">sales reached </a>₹2 crore, with over 20,000 orders being processed online. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> <cmsannotation type="cmsannotation" annotationid="Bringing the chuskis to your home, powered by electric scooters" comment="subhead" text="Bringing the chuskis to your home, powered by electric scooters">Bringing the chuskis to your home, powered by electric scooters</cmsannotation> We’ve all bought chuskis from the neighborhood kirana store or the friendly chacha who brings them on a cycle. Skippi gave this a new-age twist and launched the Skippi Freezer Bike to make it convenient and easy to bring chuskis directly to the homes of customers, with the freezers keeping the ice pops ready to eat. Skippi ordered over 100 bikes from BikeWO, a company that customizes electric two-wheelers. “We are delighted to launch the Skippi EV freezer bikes with a partner like BikeWo that features advanced technology and environmental efficiency. We are positive that the Skippi Freezer Bike will prove truly valuable and make Skippi Ice Pops even more accessible and available on the go,” <keyword id="3235847" type="General" weightage="50" keywordseo="ravi-kabra" source="Orion">Ravi Kabra</keyword>, co-founder, Skippi Ice Pops said on the launch of the freezer bikes. To further power its ambitions, Skippi Ice Pops is reportedly in talks to <a href="https://timesofindia.indiatimes.com/city/hyderabad/hyds-skippi-to-raise-4cr-by-2022-end/articleshow/94954097.cms">raise ₹4 crore</a>. Skippi’s ice pops are currently available in over 1,500 outlets in Hyderabad, the home of the company, and in 8,000 outlets across the country, apart from Amazon and Flipkart. A single pop costs around ₹20, and comes in different combinations, starting with a box of 12 pops with six flavours. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a> <a href="https://www.businessinsider.in/business/auto/news/pv-and-2w-sales-disappoint-in-december-but-stronger-growth-ahead-say-analysts/articleshow/96732246.cms">PV and 2W sales disappoint in December, but stronger growth ahead, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">BharatPe CEO Suhail Sameer to step down, Nalin Negi to take over in the interim</a>

Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1

By the end of 2022, more than 650 million COVID infections had been reported to the <keyword id="6356311" type="General" weightage="80" keywordseo="world-health-organisation" source="Orion">World Health Organisation</keyword>. With the true number likely much higher, and the tally increasing by hundreds of thousands every week, the scientific community has been focused on understanding the impact of COVID on our physical health, mental health and brain function. In the early stage of the pandemic, sleep scientists charted the costs and benefits of lockdowns on sleep patterns. The main finding was that we slept more in lockdown but the quality of our sleep was worse. Now a second wave of data is beginning to explain how becoming infected with COVID is affecting our sleep and even intruding into our dreams. The most recent meta-analysis, a review of all the currently available scientific literature, estimates that 52% of people who contract COVID suffer from sleep disturbances during the infection. The most common type of sleep disturbance reported is insomnia. People with insomnia typically find it difficult to fall asleep or stay asleep, and often wake up early in the mornings. Worryingly, sleep problems sometimes persist even after recovery from the infection. A study in China found that 26% of people who were admitted to hospital with COVID showed symptoms of insomnia two weeks after discharge. And a US study showed that people who had been infected with COVID were more likely than people who had never been infected to have trouble sleeping, even up to a month after a positive COVID test. Sleep difficulties and long COVID While most people recover from COVID quickly, some continue to have symptoms in the longer term. People suffering from long COVID seem very likely to face persistent sleep problems. A 2021 study surveyed more than 3,000 people with long COVID. Almost 80% of participants self-reported sleep problems, most commonly insomnia. A more recent study collected data on both sleep duration and quality using smart wristbands. Participants with long COVID slept less overall and got less deep sleep than participants who had never had COVID. Loss of deep sleep is particularly concerning, as this type of sleep reduces how tired we feel and strengthens concentration and memory. Lack of deep sleep may be partly responsible for the commonly reported "brain fog" during and after COVID. The fact COVID often interferes with sleep is also worrying because sleep helps our immune system to fight infections. Why does COVID affect our sleep? There are many reasons why a COVID infection might lead to poor sleep. One review identified physiological, psychological and environmental factors. COVID can have a direct impact on the brain, including the areas that control both wake and sleep states. We don't yet have a clear understanding of how this works, but possible mechanisms could include the virus infecting the central nervous system or affecting the brain's blood supply. Typical symptoms of COVID include fever, coughing and breathing difficulties. These are also well known to disturb sleep. Poor mental health can lead to sleep problems and vice versa. There's a strong link between catching COVID and mental health issues, particularly depression and anxiety. This can be caused by worries about recovery, loneliness or social isolation. Such anxieties may make sleeping harder. Meanwhile, hospitalised COVID patients can face additional difficulties trying to sleep in busy hospital environments where sleep is often disturbed by noise, treatment and other patients. What about dreams? The International COVID-19 Sleep Study, a global research project involving sleep scientists from 14 countries, recently released its findings into dreaming. The study surveyed infected and uninfected participants about their dreams. Both groups had more dreams after the start of the pandemic than before. Intriguingly, the infected participants had more nightmares than the uninfected participants, while there was no difference between the groups before the pandemic. There's no simple explanation for why catching COVID may increase nightmares, but mental health may again play a role. Poor mental health is often accompanied by nightmares. The International COVID-19 Sleep Study team found the infected group showed more symptoms of conditions such as anxiety and depression. Getting help The close links between sleep and both mental and physical health mean that prevention and treatment of disturbed sleep have never been more important, and will require creative solutions from governments and healthcare providers. If you've had trouble sleeping during or after COVID, or are having more bad dreams than you used to, you're not alone. Both short- and long-term insomnia can often be treated with cognitive behavioural therapy (<keyword id="207775" type="General" weightage="80" keywordseo="cbt" source="Orion">CBT</keyword>) that you may be able to access through your doctor. For less severe sleep problems, the European Academy for Cognitive-Behavioral Treatment of Insomnia has compiled recommendations, some based on principles applied in CBT, that you can follow at home. These include: <ul><li>keeping a regular sleep-wake schedule </li><li>restricting thinking about things that make you feel stressed to specific times of day </li><li>using your bed only for sleep and sex </li><li>going to bed and getting up when you naturally feel inclined to do so </li><li>sharing feelings of stress and anxiety with family and friends</li><li>reducing sleep disruption due to light exposure by making sure your bedroom is as dark as possible </li><li>exercising regularly in daylight </li><li>avoiding eating close to bedtime.</li></ul> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

How Covid can disturb your sleep and dreams and what could help

Pharmallama to Skippi Ice Pops: Startups that bagged all-panel deals on Shark Tank India

<ul><li>Unlike the elitist founders who are used to being served everything on a platter, the aspirants on <keyword id="20225195" type="General" weightage="100" keywordseo="shark-tank" source="keywords">Shark Tank</keyword> understand the economics of doing business in India.</li><li>Indians now have the same aspirations as people in other parts of the world and there’s never been a better time to start a business.</li><li>Out of the 100 unicorns in India, many will fail in 2024 as they were built on the wrong foundations, says this seasoned Shark who has built many unicorns as an angel investor. </li></ul> India’s startup ecosystem has been dominated by founders armed with Ivy League or IIT degrees behind them. However, this breed of so-called ‘entitled entrepreneurs’ are being challenged by Indians who may not have fancy degrees but understand ‘dhanda.’ Shark Tank, a reality show for aspiring entrepreneurs, has taken the startup dream deep into the heartland after the first season of the show hit television screens in 2021. From stigma to stardom, entrepreneurship has found its glitzy new launchpad. Popular shark and the founder and CEO of People Group, <keyword id="19913227" type="General" weightage="20" keywordseo="anupam-mittal" source="keywords">Anupam Mittal</keyword> says, “The show has become a catalyst for driving entrepreneurship and giving it legitimacy to entrepreneurial dreams. A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious. The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem.” Even though India for long has been a hotbed of small businesses, the middle class has often attached a premium to professional degrees like medicine and engineering than to entrepreneurship. Mittal recalls an aspiring entrepreneur who came looking for funding because unless he had that he could not get married to his girlfriend. That was more than a decade ago. Says Mittal, “The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem.” Shark Tank’s first season came out in December 2021, which was the peak of the startup hype cycle, and it demystified the whole conversation around <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword> and funding. Today, jargon like pre-seed and Series A funding are dinner table conversations even in Bharat. The distinguishing factor Mittal says the participants who come on the show are not entitled IIT or IIM passouts. These are real people from the hinterland who understand business and the pulse of the population. Thus, many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. And it is this learning that has even surprised a seasoned angel investor like Mittal, who says: “I believe that these people understand commerce and ‘dhandha’. The elitist founders are used to being served everything on a platter. These are small businesses founded by housewives and family members. Entrepreneurship is not the reserve of a few. The next decade will be defined by Indian entrepreneurs globally and so there is no better time to be an entrepreneur than now. Shark Tank has put belief in every Indian that they can do it and that changes the game.” Indians now have the same aspirations as people in other parts of the world. Anybody who comes in and can bridge the gap between aspiration and affordability will do well especially in lifestyle, says Shark Mittal. Companies in the clothing and jewellery space will do well if they can deliver high aspiration at a value pricing, he adds. Last year a company called <keyword id="1567712" type="General" weightage="20" keywordseo="Snitch" source="Orion">Snitch</keyword> came with a revenue of Rs 60 crore and is now doing Rs 250 crore in sales after it debuted on the show. Another startup called Skippy, which makes ice pops was funded on Shark Tank, now has a revenue run rate of Rs 50 crore from a few lakhs before the show. Mittal says that he funded a company called <keyword id="20609569" type="General" weightage="20" keywordseo="sharmaji-ka-atta" source="keywords">Sharmaji Ka Atta</keyword>, which has a revenue run rate of Rs 20 lakh a month in less than 12 months from less than 1 lakh. Another one called Whatsapp Wellness just got funded by HUL. Fundamentally, companies that can build premium products but don’t break the bank on affordability in categories like fashion, lifestyle and food will do well. People read labels now and the young generation is focused on what they are eating. Beauty and wellness products will do well as a secular trend for most of our history Lakme meant beauty, that’s how underbranded we were. Mittal, who is a seasoned angel investor and has even funded Ola in its very early days, says that many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. Many professionals who come out of large companies or consulting firms cannot start without large rounds of funding. “Out of the 100 unicorns we have, many will spectacularly fail in 2024 as they were built on the wrong foundations. These companies were built on a template of Ivy League founders and old school networks and so they got funded,” is Mittal’s forecast. ALSO READ: <a href="https://www.businessinsider.in/tech/news/shark-tank-judge-anupam-mittal-hits-out-at-google-and-says-tech-bullies-need-one-arm-chopped-off/articleshow/107713044.cms" data-type="tilCustomLink" target="_blank">Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'</a>

Founders that pitch on Shark Tank can do better than those who come from IIT or IIM, says Anupam Mittal

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> gained 15 paise to 82.47 against the US dollar in early trade on Friday tracking a firm trend in domestic equities. Forex traders said sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 82.52 against the dollar, then gained further ground to touch 82.47, registering a rise of 15 paise over its previous close. On Thursday, the rupee settled at 82.62 against the dollar. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 105.07. Brent crude futures, the global oil benchmark, advanced 1.22 per cent to USD 79.65 per barrel. As per ADP, the US economy added 235,000 private jobs in December against expected 150,000. Initial jobless claims too came in lower at 204,000 against expected 225,000, IFA Global Research Academy said in a research note. "This increases the probability of the US Fed delivering in line with its hawkish communication as wages and therefore core inflation could stay elevated for longer," it added. In the domestic equity market, the 30-share BSE Sensex was trading 177.35 points or 0.20 per cent higher at 60,530.62. The broader NSE Nifty rose 40.80 points or 0.23 per cent to 18,032.95. <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,449.45 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a>

Rupee rises 15 paise to 82.47 against US dollar

<keyword id="6358992" type="General" weightage="50" keywordseo="delhi-police" source="Orion">Delhi Police</keyword> officials were on Saturday attacked by a violent mob of 100 African natioanls who helped in escaping of three African natioanls who were caught by the police for living in India illegally. When police again went to <keyword id="82817" type="General" weightage="50" keywordseo="neb-sarai" source="Orion">Neb Sarai</keyword>'s Raju Park, the police team was again attacked by the <keyword id="608132" type="General" weightage="100" keywordseo="african-nationals" source="Orion">African nationals</keyword>, but police managed to apprehend four of them. A senior police official said that a team of Narcotics Cell went to Raju Park on Saturday for deportation proceedings of overstaying foreign nationals. The official said that at about 2:30 p.m., the team apprehended three African nationals whose visas had expired. "The team was trying to bring them to the police station but suddenly about 100 African nationals gathered there and obstructed the police team and in the meantime two of the detained African Nationals managed to escape. Later on, one Philip was successfully apprehended," the official said. The official said that again at about 6:30 p.m, a joint team of narcotics squad and Police Station Neb Sarai reached Raju Park in search of the overstaying foreign nationals and detained four African nationals including one woman namely <keyword id="16000924" type="General" weightage="50" keywordseo="kene-chukwu" source="Orion">Kene Chukwu</keyword> David Williams. A case under section 420/120B of IPC read with 14 Foreigners Act has been registered against the accused at Crime Branch, and passports have also been seized there. The accused Nigerians identified as Igwe Emmanuel Chimezie, Aziegbe John, <keyword id="16000923" type="General" weightage="50" keywordseo="queen-godwin" source="Orion">Queen Godwin</keyword> were held in second round of visit. But again about 150-200 African nationals gathered there. They were also trying to help the detained African nationals to escape but after sincere efforts, the police team succeeded to bring them in Police Station Neb Sarai. The official said that further the deportation proceedings for apprehended overstaying foreign Nationals are being taken up. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

Delhi cops attacked by 100 African nationals, four held

Amid a cold wave prevailing in parts of northern India, Safdarjung in <keyword id="66" type="General" weightage="100" keywordseo="delhi" source="Orion">Delhi</keyword> recorded a minimum temperature of 1.9 degrees Celsius, the India Meteorological Department said on Sunday. Meanwhile, Aya Nagar also in Delhi recorded a minimum temperature of 2.6 degrees Celsius, while Lodhi Road recorded 2.8 degrees Celsius and Palam 5.2 degrees Celsius, the <keyword id="6366970" type="General" weightage="80" keywordseo="imd" source="Orion">IMD</keyword> added. A thick layer of fog covered the national capital on Sunday morning lowering visibility. The national capital and nearby states continue to witness severe cold and fog conditions. On Saturday, the IMD predicted cold wave and cold day conditions likely to continue over northwest India during the next two days till Monday. Dense to very dense fog conditions over many parts of Punjab, <keyword id="41646" type="General" weightage="80" keywordseo="haryana" source="Orion">Haryana</keyword>, and <keyword id="6360078" type="General" weightage="80" keywordseo="chandigarh" source="Orion">Chandigarh</keyword> during the next 48 hours and decrease and distribute thereafter, the IMD added on Saturday. According to the weather department, minimum temperatures are very likely to rise by about 2 degrees Celsius over many parts of the plains of Northwest India after two days from Tuesday onwards. No significant change in minimum temperatures is very likely over east India during the next three days till Tuesday and a rise of about 2 to 3 degrees Celsius thereafter. A fall of 2 to 3 degrees Celsius in minimum temperatures is very likely over Madhya Pradesh during the next two days till Monday with no significant change during the subsequent three days till Thursday, the weather department said. Due to the continuation of prevailing light winds and high moisture near the surface over Indo-Gangetic plains, dense to very dense fog is very likely to continue in some/many parts during the night and morning hours over Punjab, Haryana, Chandigarh &amp; Delhi and <keyword id="6357713" type="General" weightage="80" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword> during next two days till Monday and in isolated pockets thereafter for subsequent three days over the region. Very Dense fog in isolated pockets is very likely over Uttarakhand, north Rajasthan, Bihar, SubHimalayan West Bengal &amp; Sikkim, Assam &amp; Tripura during the next three days till Tuesday; over north Madhya Pradesh during the next two days. Very cold day to severe cold day conditions very likely in many/some parts of Punjab, Haryana, Chandigarh &amp; Delhi and Uttar Pradesh on January 7-8; in isolated pockets over Bihar, Rajasthan on January 7; Cold Day conditions in isolated pockets over Madhya Pradesh, SubHimalayan West Bengal &amp; Sikkim on January 7-8; over Bihar on Jan 8-9; Rajasthan on January 8, 2023, Very Ground frost conditions in isolated places of north Rajasthan, Madhya Pradesh on January 8-9 and over Haryana, Chandigarh &amp; Delhi, Uttarakhand and West Uttar Pradesh on January 8 and abate thereafter. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

Delhi's Safdarjung records 1.9 degrees Celsius

<ul><li>The <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judge says gatekeepers of the app ecosystem – Apple and <keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> – are the new East India Company and they operate with complete arrogance and impunity.</li><li>Just as startup founders are coming under pressure, venture capitalists and auditors too need to be held accountable for their behaviour.</li><li><keyword id="20225195" type="General" weightage="20" keywordseo="shark-tank" source="keywords">Shark Tank</keyword> India has become a catalyst for driving entrepreneurship and giving it legitimacy. </li></ul> <keyword id="127971" type="General" weightage="100" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> is India’s original internet entrepreneur, who is the founder and CEO of People Group. Way before platform economy became a buzzword, Mittal built a platform for Indians seeking life partners. And even today one million Indians find their partners on shaadi.com every year. Call him the OG of startups or a serial entrepreneur, he is a man who does not mince words. In a free wheeling chat with Business Insider’s Malini Bhupta, Mittal talks about unfair trade practices of Google, his investment in Ola’s Bhavish Aggarwal and what he thinks is the biggest achievement of Shark Tank India. Edited Excerpts: With some high profile startups like Paytm and Byju’s coming under lens, what do you think is wrong with the startup ecosystem? I think the Paytm issue is a little different. There are two issues there in my view – one is valuation. The company came out with its IPO at the height of the unicorn boom and as a result, their valuation was corrected when the pvt. market corrected. This is part of the pricing game and one can hardly blame them for it. Eventually, they would have grown into their valuation is what I believe. However, the second issue which is regulatory in nature is far more serious. Whether it is justified or not I don’t know. I think there is a little heavy-handedness here as what you are talking about is a payments bank KYC stuff being the reason to shut them down, which could be seen as over-reach since they are not a significantly important lending institution. Talking about what is wrong with India’s ecosystem and why founders are behaving badly is a common issue that occurs when there are high levels of greed. When there is massive liquidity in the system people think they can take advantage of the situation. In the US you have seen Theranos, crypto frauds and an industry that was created around SPACs. Billions of dollars have been lost on that. What is happening in India is a small reflection of that. Greed manifests in two ways – one is the founders who are ambitious who see the ecosystem celebrating unicorns and that gets weaponised. Over time a few start with minor refractions and very soon they start fabricating revenues and manipulating auditors to keep up with the image that has been created. They are riding tigers they can't get off. The venture capitalists too want to see their investments being marked up as their future fund raises depend on the portfolio's net asset value and so they play along and at times actually drive the founders at a velocity that is unsustainable. I think they need to be held accountable by their LPs. Auditors have a very important role here and are perhaps the ones who need to pay the highest price through government censures. They are market participants who have been entrusted with a certain job for which they get paid hefty fees. When they start looking the other way, the system breaks. You have been waging a pitched battle against the unfair trade practices of Big Tech companies in India. What, in your view, are the steps that need to be taken by the government to prevent such unfair practices by large global players? Fundamentally the experience of the internet is through apps – two companies control the entire app ecosystem Google and Apple. Both operate with complete impunity. Two years ago the CCI passed an order against Google around <keyword id="963171" type="General" weightage="20" keywordseo="google-play" source="Orion">Google Play</keyword> Billing System (GPBS). Now they have changed the name to User Choice Billing. If you look at the order CCI says there will be no discrimination at all. Being on the App Store means nothing unless you advertise on Play Store. Startups spend anywhere between 10-50% of revenue on advertising on these platforms already. Essentially, the app store is worth nothing if you don’t have content. What choice does a company have but to adhere to their unfair practices… Now they say that any transaction that happens on apps downloaded via the store will be subject to 15-30% tax/commissions. What this means is that they want 50% of the revenues of the startups. It is the new East India Company and they operate with complete arrogance and impunity. The problem is in getting these companies to comply. Their strategy is to stretch out the legal process and tire the system. Our government and regulators have the right intent but sometimes democracies are messy. As a government, we have to ensure that nobody becomes the gatekeeper to our economy which is what these companies are trying to do. There should be penal provisions for anybody who abuses the law or twists and turns it while violating the very spirit of it. Non-compliance with judicial orders is contempt of court and so there is an opportunity to send a very strong message. These bullies need one arm chopped off in the form of penalties, a rap on the knuckles will not work as they are too big to care about a couple of hundred million in penalties. What is the biggest achievement of Shark Tank, which has now become a huge hit in India? In life timing is everything. Shark Tank’s first season was in December 2021, which was the peak of the startup hype cycle, and it demystified the whole conversation around startups and funding. Shark Tank has become a catalyst for driving entrepreneurship and giving it legitimacy. India is a land of entrepreneurs with every second person running some small business, many from home. A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious. The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem. A lot of companies have done very well. About 8-10 companies that got funded in Shark Tank are doing very well out of 180 companies that came to the show. This is an early stage game and will play out the same way. When you invest in 100 early stage companies, 4-5 will do very well and help recover the investments and some will become very big. A majority will fail. What I found amazing was that the companies that came to the show were not the elites who came from IIT or IIM. These are small businesses founded by housewives and family members. Entrepreneurship is not the reserve of the few. The next decade will be defined by Indian entrepreneurs globally and so there is no better time to be an entrepreneur than now. Shark Tank has put belief in every Indian that they can do it and that changes the game. Many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. I believe that these people understand commerce and ‘dhandha’. The elitist founders are used to being served everything on a platter. Many professionals who come out of large companies or consulting firms cannot start without large funding. Out of the 100 unicorns we have, many will spectacularly fail in 2024 as they were built on the wrong foundations. These companies were built on a template of Ivy League founders and old school networks and so they got funded. Of the businesses that come to Shark Tank, what sectors can do well and stand a better chance of being funded? Indians now have the same aspirations as people in other parts of the world. Anybody who comes in and can bridge the gap between aspiration and affordability will do well especially in lifestyle. For example - Companies in the clothing and jewellery space will do well if they can deliver high aspiration at a value pricing. Last year a company called Snitch came with a revenue of Rs 60 crore and is now doing Rs 250 crore in sales. A company called Skippy, which makes ice pops was funded on Shark Tank too and has a run rate of Rs 50 crore from a few lakhs before ST. I funded a company called Sharmaji Ka Atta which has a revenue run rate of Rs 20 lakh a month in less than 12 months from less than 1 lakh. Another one called Whatsapp Wellness just got funded by HUL. Fundamentally, companies that can build premium products but don’t break the bank on affordability in categories like fashion, lifestyle and food will do well. People read labels now and the young generation is focused on what they are eating. Beauty and wellness products will do well as a secular trend for most of our history Lakme meant beauty, that’s how unbranded we were. Do you feel Shaadi.com is still relevant after Tinder and other dating apps came about? Let’s understand why Tinder is used, it is for hookups and is struggling to grow its revenue in India. Shaadi.com is not an arranged marriage platform. Shaadi.com is a planned marriage platform. Indian culture has four stages of life and marriage is one of the life stages. When you are planning to marry you look for compatibility and it is not about a chemical reaction. On Shaadi.com the family and parents collaborate to find a partner. The old community networks are now dying and we replace those networks. We are bringing together people in the same life stage to find a like-minded partner. The hook-up sites don’t do that and don't understand the Indian ethos. They are applying the same global model to India which does not work beyond a certain point. You were the original internet entrepreneur with a disruptive product. Why did you not create a large business that went on to become a decacorn or a unicorn? It depends on how you define success. If the definition is labels such as decacorn and unicorn, then that's not the game we are playing. Those are vanity labels that I would rather not pursue. Our definition of success is value creation and we are long-term compounders, much like Berkshire &amp; LVMH, so in a sense our ‘overnight’ success story is still waiting to become obvious to the world. From that lens, our ROCE is perhaps the best in the industry we have only ever raised about $20 mn but created several billion in value between our operated and invested cos. Our investee companies employ thousands, have raised over $20 bn and will go on to create $100 bn in value over time, in the bargain generating tremendous wealth for the country and hopefully for us too. We boast an IRR of 52% consistently for more than a decade which is extraordinary by any standards and a testament to our approach and story. Many people build businesses but we were fortunate to create entire industries such as online matchmaking via Shaadi.com, which we still run; proptech company Makaan.com which we sold to NewsCorp very handsomely; India’s first &amp; still the largest digital ad agency, Interactive Avenues, which we sold to IPG at a benchmark price that is yet to be crossed; India’s first mobile gaming company, Mauj Mobile which spawned a massive industry. So, whether it is our customers, employees, shareholders, the country or society at large, I think we have already impacted 10s of millions and while we don’t have a market listed entity like Jio or TCS to show for it, we have delivered massive national and global level impact. Keep in mind that we are most often the first to check into investee cost and every company we have founded has been the first in its industry. Our innovations have generated billions of dollars in wealth and given rise to innumerable founders and entrepreneurs who have learnt at our companies and gone on to build massive companies of their own. Further, I am still very young and the Indian opportunity is only now unfolding. In the next couple of years, you will see some of our other bets in space exploration, mobility real edtech, &amp; sustainable fintech come into the limelight besides something very special we are building on our own. So, in short, I still remain the OG and if you force me to use your labels we have birthed not one or two but several Unicorns &amp; Decacorns and that too with very limited capital. It is perhaps one of the most spectacular untold stories of value creation in the digital economy. Ola is one company that is headed for an IPO and you own 2% in the company. How did that happen? When we invested in Ola, there was not much of a concept of venture funding and the company did not have any suitors so we were able to get in at a very attractive valuation and hold an extremely healthy minority stake which obviously has been diluted over time. I think the network effects are so large that it is hard for others to get into it. I am still a shareholder and looking forward to the initial public offering. I invested in 2012 and when I met Bhavish first, I did not understand the problem he was solving as I live in Mumbai where cabs are available. So I did not think there was a problem. A few days later when I was in Delhi and needed a cab, I was told that they would call a taxi stand. After I came back from Delhi, I realised there was a problem everywhere. And I used to call the call centre and Bhavish used to answer the call centre, which showed me his commitment and reminded me of myself when I had started and so I invested.

Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'

<ul><li><keyword id="15975000" type="General" weightage="80" keywordseo="recode-studios" source="Orion">Recode Studios</keyword> is a makeup brand and online marketplace based in Ludhiana. </li><li>It clocked net sales of ₹15 crore with a net profit of ₹48 lakh for FY22. </li><li><keyword id="2174783" type="General" weightage="100" keywordseo="recode" source="Orion">Recode</keyword> Studios, founded by <keyword id="15975001" type="General" weightage="20" keywordseo="Dheeraj-Bansal" source="Orion">Dheeraj Bansal</keyword> and <keyword id="3160595" type="General" weightage="20" keywordseo="Rahul-Sachdeva" source="Orion">Rahul Sachdeva</keyword>, pitched on <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2 but none of the sharks invested.</li></ul>The few episodes of Shark Tank India season 2 aired, are already trending on social media. And, the company that dominated discussions online is one that received no funding — Recode Studios, an online marketplace and makeup brand. Punjab-based acquaintances Dheeraj Bansal and Rahul Sachdeva started Recode Studios as a makeup brand in 2018. Later, in 2021, it grew into an online marketplace selling cosmetics across 60 brands. Sachdeva was already in this line, working with a cosmetic brand, Make Over, and had gained the necessary expertise in the industry. Bansal however worked as a manufacturer of bicycle spare parts before starting Recode. "When Rahul approached me with the proposal, I recognised the chance to advance in this field and went from the bicycle to the cosmetic industry. Rahul's marketing expertise in the cosmetics industry and mine in management and operations helped us kick-start our venture,” Bansal told <a href="https://yourstory.com/2022/11/cosmetics-startup-recode-studios-afforability-beauty-products-ludhiana">YourStory</a>. Started in 2018, Recode Studios launched its brand with products like nail paint, lipsticks, eyeliner and kajal — which are make-up kit must-haves. The founders saw that affordability was always an issue for buyers, and that struck a chord with them. The decision to shift from a pure cosmetic brand to an online marketplace came when the company suffered severe losses during the pandemic. Consequently, the founders shared on Shark Tank India that they decided to sell-off their products, which were going to expire in 8-10 months, in a ₹1 flash sale. “This allowed us to get consumer feedback on the quality of our products while also being economically lucrative. Since everyone we sold to spread the word to their friends and family, we also increased our customer base,” Bansal further added. They built a strong customer base among middle-class households who find international brands too expensive. Other than its own make-up products, the platform also offers products of brands like WOW Skin Science, Colorbar, Mirabela and others. The company imports products from countries like Germany, Thailand and Taiwan. It has a tie-up with over 300 offline stores and has three franchise stores in Delhi, Faridabad and Raipur. It also has a presence on Amazon, and sells pan-India through its own website as well. <cmsannotation type="cmsannotation" annotationid="Unique customer acquisition strategy" comment="subhead" text="Unique customer acquisition strategy">Unique customer acquisition strategy</cmsannotation> The cosmetic brand pitched on the premiere episode of Shark Tank India season 2 to raise ₹1 crore in exchange for 1% equity. While pitching, both Bansal and Sachdeva explained their customer acquisition strategy. The startup organises offline makeup classes for girls in five-star properties that last 3-4 hours, at ₹1,500 per class. Famous makeup artists teach them different make-up techniques, and they receive products worth ₹1,500 along with a free lunch at the venue. “This is a no profit no loss move and actually a cost to the company,” said Rahul in the show. “The students then come to buy those products again and that’s how we build our customer base,” he added. This unique customer acquisition strategy impressed the sharks in the show, especially Lenskart founder Peyush Bansal, who quipped that even he would try to offer free lunch at eye-testing camps. Recode didn’t get any funding on the show, allegedly because it was a direct competitor of Sugar Cosmetics - the venture founded by shark Vineeta Singh. Nevertheless, since the episode aired, Recode and its acquisition model has gained a lot of traction on social media. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/how-wittyfeed-founders-lost-a-company-overnight-and-launched-a-300-crore-startup-in-a-year/slidelist/96758805.cms">How WittyFeed founders lost a company overnight and launched a ₹300 crore startup in a year</a>

Recode Studio's free lunch with make-up classes wins over Shark Tank judges, but gets no money

<ul><li>Indian banks could see a further boost in their earnings in the December quarter thanks to loans being repriced upwards.</li><li>Despite loan growth being at a near-decade high of 17.4%, brokerages expect banks to witness more growth.</li><li>Rising interest rates will also reflect in the net interest margins expanding further in Q3, while asset quality is expected to moderate further, analysts say.</li></ul>Indian banks could see a further boost in their earnings in the December quarter as the benefits of loans being repriced upwards are expected to continue flowing in, say analysts. <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">RBI hiked interest rates by 225 basis points so far</a>, following the US Fed’s rate hike action. While banks have benefited from rate hikes in Q2 as well, analysts see more room for a further ramp up in Q3 as well. “Q3 FY23 earnings growth momentum on a sequential basis is likely to be better on the following grounds: continuing benefit of upward repricing in external benchmark-linked rate (EBLR) and marginal cost of funds-based lending rate-linked (MCLR) loans is likely to outweigh pressures on funding costs,” said a report by <keyword id="46909" type="General" weightage="80" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword>. ICICI Securities expects the banks in its coverage, including <keyword id="13222" type="General" weightage="80" keywordseo="sbi" source="Orion">SBI</keyword>, HDFC Bank, Axis Bank, Kotak Mahindra Bank, among others, to report a 40% year-on-year increase in net profit, edging up from a cumulative ₹37,037 crore in Q2 FY23 to ₹40,006 crore in Q3 FY23. On the other hand, it estimates the net interest income to grow over 20% year-on-year, in line with analysts at Motilal Oswal, who estimate a growth of 24%. “Margins to exhibit a positive bias, supported by rising interest rates and healthy pick up in business growth,” said Motilal Oswal in its earnings preview. <cmsannotation type="cmsannotation" annotationid="Loan growth to continue while asset quality to moderate" comment="subhead" text="Loan growth to continue while asset quality to moderate">Loan growth to continue while asset quality to moderate</cmsannotation> Loan growth is another metric that has continued to show improvement, rising to a near-decade high of 17.4% in December 2022, according to the Reserve Bank of India’s Financial Stability Report. Despite touching a near-decade high, brokerages expect banks to report a continued increase in loan growth. Net non-performing assets (Net NPAs) – which are at their lowest in the last 10 years – are also expected to improve further sequentially, according to ICICI Securities. The brokerage estimates the banks in its coverage to report net NPAs in the range of 0.3-4.5%, when compared to a range of 0.3-4.8% in the previous quarter. “We estimate slippages to continue to moderate, which, along with healthy recoveries, should result in a further improvement in asset quality,” said Motilal Oswal. <cmsannotation type="cmsannotation" annotationid="Valuations reasonable, says Jefferies" comment="subhead" text="Valuations reasonable, says Jefferies">Valuations reasonable, says <keyword id="151304" type="General" weightage="80" keywordseo="jefferies" source="Orion">Jefferies</keyword></cmsannotation> In 2022, the Nifty Bank index registered a growth of over 21.2%, while the benchmark Nifty50 index gained 4.3%. Despite this, analysts at Jefferies say that bank valuations are reasonable. “Despite re-rating and good earnings visibility for 2023, valuations are reasonable. With the performance gap between private and PSU banks narrowing, the range of valuations will also narrow,” said Jefferies, adding that the healthy credit growth will aid profitability. The brokerage added that <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword> and State Bank of India remain its top picks amongst large banks, while <keyword id="46717" type="General" weightage="80" keywordseo="indusind-bank" source="Orion">IndusInd Bank</keyword> is its pick in the midcap segment. “ICICI Bank stays top-pick as it offers the best risk reward ratio across peers with superior growth, improved asset quality and higher return on equity,” the brokerage said. It added that SBI and IndusInd Bank are both well-positioned to deliver earnings growth and ramp up lending. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a> <a href="https://www.businessinsider.in/business/auto/news/pv-and-2w-sales-disappoint-in-december-but-stronger-growth-ahead-say-analysts/articleshow/96732246.cms">PV and 2W sales disappoint in December, but stronger growth ahead, say analysts</a>

Bank earnings could see a further ramp up in Q3, say analysts

<ul><li>India’s richest and world’s third richest person <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> was in the hot seat on Rajat Sharma’s ‘Aap Ki Adalat’ show on Saturday.</li><li>In the hour-long show, the billionaire from Gujarat addressed several controversial topics like his closeness with the ruling BJP, his group debt and more.</li><li><keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> revealed that Reliance Industries’ founder, the late Dhirubhai <keyword id="10924" type="General" weightage="80" keywordseo="ambani" source="Orion">Ambani</keyword> is his role model, and that Mukesh Ambani is a very good friend.</li></ul>India’s richest and world’s third richest person Gautam Adani was in the hot seat on Rajat Sharma’s ‘Aap Ki Adalat’ show on Saturday. In the hour-long show, the billionaire from Gujarat addressed several controversial topics like his closeness with the ruling BJP, and Mukesh Ambani, his closest rival. “To become successful, discipline and hard work is the only formula, leave the rest to God,” Adani said in the opening segment of the<a href="https://www.youtube.com/watch?v=pYKPBgNPlVo"> show</a>. <cmsannotation type="cmsannotation" annotationid="‘Doubting the class topper who achieved the first rank’" comment="subhead" text="‘Doubting the class topper who achieved the first rank’">‘Doubting the class topper who achieved the first rank’</cmsannotation> The show, which is known to make top celebrities answer the most uncomfortable questions about themselves, started off with the political connections that Gautam Adani allegedly enjoys. The opposition parties have termed Adani’s meteoric rise as a case of “<a href="https://www.indiatoday.in/india/story/rahul-gandhi-bharat-jodo-yatra-delhi-red-fort-address-2313120-2022-12-24">crony</a> capitalism”. He is known to be close to the ruling BJP government. One of Adani’s frequent critics is Rahul Gandhi, senior leader of the primary opposition party, the Indian National Congress. The show’s anchor Sharma pointed out how Gandhi has been critical of Adani over the past eight years, calling him “ungrateful”, amongst other things. On this, Adani said, “Rahul Gandhi is a senior leader of the Congress party. As an industrialist, I think it’s not good that I pass a comment about him. He’s a respected leader and wants the progress of the country. Sometimes in the heat of politics, he makes a comment, but I don’t consider it anything more than a political comment.” Adani added that his companies don’t bag projects in only BJP-ruled states. “We want to make maximum investments in every state. Adani group is happy that it is working in 22 states, and not all of them are ruled by the BJP,” he said. “I can say with clarity that we do not have any problem with any state government. We work in Left-ruled Kerala, with Mamata Didi in West Bengal, in Naveen Patnaikji’s Odisha, with Jagan (in Andhra Pradesh), and KCR (in Telangana),” he added. <div type="Article" hostid="261" msid="96610248" title="Gautam Adani: Man of the year" mstype="2" mssubtype="0"></div> Gandhi also alleged that the Modi government has given away business in key areas like mining, green energy, power and others to Adani’s group companies. On this, Adani said, “We have not done any work without bidding. We don’t enter any business without bidding or merits. Adani’s group’s philosophy has been to not touch anything without bidding.” “This is like doubting how the class topper has achieved the first rank,” he quipped. <cmsannotation type="cmsannotation" annotationid="‘Lenders don’t give loans based on what someone says’" comment="subhead" text="‘Lenders don’t give loans based on what someone says’">‘Lenders don’t give loans based on what someone says’</cmsannotation> Adani’s rise has also been criticized for being <a href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-overly-ambitious-growth-plans-can-spiral-into-a-massive-debt-trap-fitch/articleshow/93725014.cms">funded by debt</a>. Sharma pointed out that Adani’s critics say he has over ₹2 lakh crore worth of debt in the books of his companies. Responding to this, Adani said, “Our credit rating is equal to that of India’s sovereign rating. We have brought down the share of loans taken from banks in India to 35% of our total debt now, from 80% in 2013.” “The rest of it is from outside India, and those lenders don’t give loans based on what someone says in India. So, this allegation is entirely baseless,” he added. <div type="Article" hostid="261" msid="91829090" title="Understanding Gautam Adani’s rise: a story on how to generate wealth via hope, equity and of course debt" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="‘Mukesh bhai is a very good friend’" comment="subhead" text="‘Mukesh bhai is a very good friend’">‘Mukesh bhai is a very good friend’</cmsannotation> As Adani rose through the ranks of the world’s richest, he also displaced Mukesh Ambani as India’s richest man — who had been holding on to the tag for a very long time. In addition, both the business groups’ interests clash be it green hydrogen, renewable energy and most recently media. On the topic of rivalry, Adani said that Ambani is a very good friend of his, and that his late father, Dhirubhai Ambani is his role model. “Dhirubhai is a role model. The way he set up and scaled Reliance Industries even before liberalization, he showed the way forward. He is an inspiration,” Adani said. Adani also praised Mukesh Ambani, saying he took the Reliance group forward and expanded it. “Mukesh bhai is a very good friend. I respect him a lot. He gave Reliance Industries a new direction with Jio, technology and retail, apart from his primary petrochemical business. He has made a big contribution towards developing the country,” he said. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

Dhirubhai Ambani is my role model and Mukesh Ambani a very good friend, says Gautam Adani

<ul><li><keyword id="6354504" type="General" weightage="80" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>, <keyword id="6354287" type="General" weightage="80" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> and <keyword id="1553175" type="General" weightage="80" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> are expected to report another stable quarter with moderate revenue growth.</li><li><keyword id="6383126" type="General" weightage="80" keywordseo="telcos" source="Orion">Telcos</keyword> have been witnessing a slowdown in 4G subscriber additions and rising costs due to the 5G rollout.</li><li>Analysts suggest the much-expected tariff hikes will be the “key trigger” going forward.</li></ul>Slowdown in 4G subscriber additions and lack of tariff hikes in over a year could slow down revenue growth of India’s telecom companies, according to analysts. While the market leader Reliance <keyword id="2003276" type="General" weightage="80" keywordseo="jio" source="Orion">Jio</keyword> is expected to report a net addition in subscribers, its rivals Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword> and Vodafone Idea are expected to report a decline, as per an <keyword id="46909" type="General" weightage="80" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword> estimate. And it would have an effect on the revenues of the sector as a whole. “Our Q3FY23 estimates suggest a deceleration in mobile revenue growth across telcos due to SIM consolidation, lower benefit of premiumisation from slowdown in 4G net add, and absence of tariff hikes,” said an ICICI Securities report. Overall, analysts expect the three telcos to report earnings growth in the range of 9.4-19.7% year-on-year. Reliance Jio is expected to report the highest revenue growth at 19.7% YoY while its close rival Airtel is expected to report a 17.5% increase. Vodafone Idea, on the other hand, is expected to report revenue growth on the lower end at 9.4%, according to ICICI Securities. Overall, on a sequential basis, the revenue growth is expected to flat – in the range of 0.1-1.7% — with Vi being on the lower end once again. <cmsannotation type="cmsannotation" annotationid="Tariff hike the ‘key trigger’ going forward" comment="subhead" text="Tariff hike the ‘key trigger’ going forward">Tariff hike the ‘key trigger’ going forward</cmsannotation> Going forward however, telcos are expected to<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-and-reliance-jio-could-hike-tariffs-by-as-much-as-10-according-to-analysts/articleshow/96375427.cms"> deliver a 10% tariff hike in Q4 FY23</a>. Tariff hikes, analysts say, are “key triggers” for telecom stocks. “From an industry structure, balance sheet and cash flow viewpoint, telcos remain one of the best positioned and a defensive play to navigate through the market uncertainties, if any. Potential tariff hike is the key trigger,” said a report by Dolat Capital. Telcos have been expected to announce tariff hikes for quite some time now – the last tariff hike in the industry was in December 2021. Analysts had expected telcos to deliver a similar hike in December 2022, which never materialized. While Jefferies sees a tariff hike in Q4 FY23, analysts at IIFL Securities suggest the hike could happen only by mid-2023. “Considering large 5G investments and higher network costs on addition of 5G equipment to towers, we believe the next 4G prepaid tariff hike could probably be in mid-2023. Pushing tariff hikes closer to 2024 elections raises the risk of political backlash,” IIFL Securities noted. Despite rolling out 5G services back in October, both <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-5g-prices-may-be-affordable-for-now-but-expected-to-increase-after-wider-rollout/articleshow/94636173.cms">Airtel and Jio are offering 5G services at no added cost</a> to their subscribers. Cumulatively, the three telcos spent ₹1.5 lakh crore towards their <a href="https://www.businessinsider.in/business/telecom/news/heres-how-much-mobile-bills-can-increase-from-5g-network-service/articleshow/93312184.cms">spectrum purchases</a>. <cmsannotation type="cmsannotation" annotationid="Increased churn adds to lack of tariff hikes" comment="subhead" text="Increased churn adds to lack of tariff hikes">Increased churn adds to lack of tariff hikes</cmsannotation> As the timelines for possible tariff hikes are yet to emerge, the margins will remain stressed as there is one more pain point that’s added to the sector in the form of increased <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-and-reliance-jio-could-hike-tariffs-by-as-much-as-10-according-to-analysts/articleshow/96375427.cms">subscriber churn. Telecom users </a>started shopping for better plans in the last four months. According to the telecom subscriber data for October 2022 released by the Telecom Regulatory Authority of India (TRAI), the number of MNP requests in October surged to 11.81 million – close to September’s 11.97 million, which is the highest in 2022. “The rise in MNP requests over the past five months implies increasing competition for subscribers in the market. This is also evident from the higher churn levels seen during Q2 FY23 across telcos,” said the Jefferies report. Additionally, the rollout of 5G and Jio offering unlimited high-speed data is also likely to change the competitive landscape of the sector. “Subscriber (sub) base for Bharti Airtel and Vodafone Idea is likely to shrink while Reliance Jio’s net sub additions (+5mn) may moderate,” said a report by ICICI Securities. The scrambling for high-end 5G customers in a market that’s already saturated will make the telecom market much tougher, putting margins for the sector under pressure. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

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