Morning Scan: All the big stories to get you started for the day


Tatas to reward BigBasket founders with Msops

The Tata Group has plans to reward the founders of BigBasket with ‘management stock options’ or Msops, reported The Economic Times.

Why it’s important: The move is part of the Tata Group’s strategy to retain talents especially the founders of such verticals.
The move also shows the group’s intent to retain them to lead the operations of BigBasket to take the platform to further heights.

The group has also firmed up its post-acquisition plans for 1mg.

Centre to settle claims of 45,000 exporters, mostly MSMEs

The government is moving ahead to settle claims by exporters in the fiscal worth Rs 56,027 crore, reported Mint.

Why it’s important: The plan will benefit over 45,000 exporters.
Most of these exporters, around 98 percent, are from the MSMEs sector.
This move will be a major booster shot for the exporters.

India’s target for merchandise exports in thes fiscal is $ 400 billion.

India’s exports baskets driven by 80 products: SBI

The State Bank of India in its research said that 80 products contributed over half of the value of India’s exports in the first quarter, reported Mint.

Why it’s important: India earned $ 95 billion from goods exports in June quarter.
Diamond exports lead the basket with a share of 6 percent, followed by diesel fuel at 5 percent.

The major items include petroleum and energy, gems and jewellery, agri, fishery, meat and allied, chemicals and pharma, metals and products, etc.

CVC Capital and Bain Capital in the fray for buying Sajjan India

Private equity (PE) firms CVC Capital and Bain Capital are in the fray to buy chemicals manufacturer Sajjan India Pvt. Ltd, reported Mint.

Why it’s important: Chemical manufacturing companies are in demand from investors due to robust growth in the sector.
Sajjan India produces agrochemicals, electronic chemicals, specialty chemicals and intermediaries.

Sajjan India’s valuation is expected to be around Rs 8,000 crore.

India to get first grid-connected battery storage facility as CESL firms up plans

Converge Energy Solutions Services Ltd, a subsidiary of state-owned EESL, is set to launch India’s first grid scale battery storage programme, reported the Business Standard.

Why it’s important: Mahua Acharya, managing director, CESL, said that whenever there is a dip in demand, battery storage companies should be available to switch on and provide power in five seconds.
The battery storage is used as a standby service against a rent.
The financially troubled discoms can install battery systems and defer their capex in system upgrade.

It can also be used for charging electric vehicles.

Kerala to start India’s ambitious green hydrogen mission at CIAL

The Cochin International Airport in Kerala is in talks with leading energy companies for producing green hydrogen from its solar power facility, reported the Business Standard.

Why it’s important: It’s a first of its kind in India.
Kerala is the first State to come up with a road map on using hydrogen as a fuel.
It’s also an ambitious plan of the Central government to aggressively push for hydrogen energy.
Kerala is already ahead in drafting a road map to push hydrogen production in the State.
CIAL is in talks with IOC, NTPC, GAIL (India), BPCL and Air Products USA for producing hydrogen energy.
The talks are also with the world’s largest fuel cell makers like Ballard Power Systems Inc. and HyGen.

CIAL is the world’s first fully solar-powered airport with a total capacity of 40 megawatt-peak.

To follow rule-based active investment approach: NJ Asset CEO

Rajiv Shastri, CEO of NJ Asset Management Company, in an interview with Business Standard says their plan to launch NJ Balanced Advantage Fund is different from passive investing as well as traditional discretionary active investing.

What he says: In stock selection, the firm looks at four parameters, quality, value, momentum, and low volatility.
The output of these protocols is implemented without any human intervention, which makes it inherently disciplined and eliminates human bias.
Rule-based active products entail significant effort in analysing data, devising rules and monitoring their performance.
The positioning of funds is completely different from other fund houses.The firm is not going to launch products for the sake of doing so if we don’t find enough of a distinction.