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Times Now Navbharat exposes Masood Azhar’s den

Times Now Navbharat, the Hindi news channel from Times Network, has launched with one of the biggest newsbreaks of the year, the unmasking of Pakistan’s patronage to Masood Azhar, a global terrorist and the chief of Jaish-e-Mohammed, a proscribed terror outfit. Azhar is one of India’s most-wanted terrorists and is the mastermind of major terror attacks in the country like the 2001 Parliament attack and the 2019 Pulwama blast that nearly took India and Pakistan to the brink of war. And while Pakistan has been trying to project an image that it no longer abets terror to escape economic sanctions — especially after Al-Qaeda chief Osama Bin Laden was killed by US special forces at his hideout near its military headquarters in Abbottabad — the Hindi news channel has accessed undeniable visual evidence that confirms Pakistan’s deep state is still providing safe haven to terror masterminds.The news break is in line with the news channel’s philosophy to deliver cutting-edge and impactful content to viewers. The Jaish chief has two hideouts in Pakistan’s Bahawalpur, as per the story carried by the channel. One house is located next to the Osman-O-Ali Masjid. The National Orthopaedic & General Hospital is another major landmark. From this secret location, Masood conspires to wage terror against India. Pakistani soldiers have been stationed outside his house to secure their prized asset. With a mosque and hospital next to his house, an Osama-like operation becomes very difficult if not impossible. Further, the surroundings give Masood and his aides an opportunity to escape in case of a strike.The second house is also located in Bahawalpur, nearly four kilometres from the first. It also lies next to a masjid known as Jamia Mosque. The most interesting fact is that Bahawalpur bench of the Lahore High Court is just a kilometre away from Masood’s second home while the district collector’s office is just at a distance of three kilometres, the channel reported. The top offices of the district seem to be Masood’s neighbours. Again, there are uniformed Pakistani army personnel guarding the bungalow. So, a global terrorist resides in a posh locality as a state guest.The story exposes Pakistan’s nefarious designs to continue using terror as a state policy.India has submitted many dossiesr to Islamabad with hard evidence of terror activities being planned from its soil but to no avail. But after Times Now Navbharat’s news break, Pakistan’s claims of not harbouring terrorists have been laid bare, the channel said.In a statement on the launch of the channel, MK Anand, MD & CEO, Times Network, said, “We believe that news has the power to make an impact on our society and also help make it a better place to live in.”He added that the Times Network is not part of the ‘TRP race’ and that it works only for the welfare of the country and its people. Times Network has already been running the country’s leading English news channel Times Now for the past 16 years, raising relevant issues which have triggered change in both political arena and society at large. “We work tirelessly on such issues and news which are in public interest and also contribute to the welfare of the country and the society. This helps us get TRP organically,” Anand said.Times Now is a part of BCCL, which also publishes ET.

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Shia leaders split over J&K’s Muharram call

The Jammu and The Jammu and Kashmir administration’s decision to allow a procession on Muharram in the Srinagar city centre Lal Chowk, almost after 30 years, has triggered a contentious reaction from leaders within the Shia community. People’s Conference leader Imran Reza Ansari has welcomed the government’s decision and urged other Shia leaders to join the procession. Meanwhile, another popular Shia leader, associated with the National Conference, Agha Ruhullah Mehdi, has raised a question mark on administration’s selective allowance of this procession, even when gatherings on both the Eid and Amarnath Yatra was cancelled. Ansari, who also heads the Shia Association, has decided to lead the procession on 10th of Muharram also known as ‘Ashura’.

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COVID-19 curfew in Goa extended till August 9

The Goa government on Sunday extended till August 9 the ongoing coronavirus-induced curfew in the state. The previous curfew deadline was scheduled to end on August 2. The administration issued the extension order, in which it said that all the COVID-19-related curbs will continue in the state and no fresh relaxation has been granted. The coastal state on Sunday reported 59 fresh coronavirus positive cases and one death, taking the tally to 1,71,205 and the toll to 3,148, the health department said.

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Adani Group to enter petrochem biz via new entity

The Adani Group announced its intention to enter the petrochemicals business by registering a new company called Adani Petrochemicals Limited on Friday, as per regulatory disclosures made to the stock exchanges. The new company will be a fully-owned subsidiary of Adani Enterprises (AEL), the flagship company that incubates most of the Group's new businesses, which are later spun off into separate listed entities once it achieves a certain scale. “To carry on the business of setting up refineries, petrochemicals complexes, speciality chemicals units. Hydrogen and related chemicals plants and other such similar units,” Adani Enterprises mentioned the reason for setting up the new company as part of regulatory disclosures. The company has been set up with an authorised paid-up capital of Rs 1 lakh. In March this year, AEL had similarly set up Kutch Copper Limited with paid-up capital of Rs 1 lakh to enter the metals business. In the past, AEL has incubated and later hived off businesses including Adani Ports, Adani Green, Adani Power Transmission, and Adani Total Gas. The company is reportedly considering hiving off its airports business next.

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New rail link to push India-Bangladesh trade

India and Bangladesh on Sunday launched regular operation of freight trains through the Haldibari - Chilahati Rail Route. Indian Railways dispatched the first freight train loaded with stones from Damdim Station of Northeast Frontier Railway to Bangladesh.After the partition in 1947, 7 rail links were operational between India and the then East Pakistan (up to 1965). Presently, there are 4 operational rail links between India and Bangladesh. They are - Petrapole (India) - Benapole (Bangladesh), Gede (India) – Darshana (Bangladesh), Singhabad (India)-Rohanpur (Bangladesh), Radhikapur (India)–Birol (Bangladesh). The Haldibari-Chilahati rail link is one such route which was operational till 1965.The leadership of both India and Bangladesh are committed to revive all the pre-1965 railway links between the two countries. Hence, the restoration work was undertaken by the railways of both the countries to revive this rail link.After the restoration, this railway link between Haldibari (India) and Chilahati (Bangladesh) was jointly inaugurated by the Prime Ministers of India and of Bangladesh during the PM level virtual bilateral summit on 17.12.2020.The Haldibari – Chilahati rail link is the 5th rail link between India and Bangladesh being made operational from 1st August 2021.The commodities that can be exported from India to Bangladesh through this rail route include Stones and Boulders, Food Grain, Fresh Fruits, Chemical Fertilizer, Onion, Chilies, Garlic, Ginger, Fly Ash, Clay, Lime Stone, Wood & Timber etc. From Bangladesh to India all exportable commodities are permitted.This rail link coming into operation will strengthen India-Bangladesh Rail Connectivity and bilateral trade. It will also enhance rail network accessibility to the main ports and dry ports to support the growth in regional trade and to encourage economic and social development of the region.This line will be beneficial for transit between Bangladesh, Assam and West Bengal. It will enhance rail network access to the main ports, dry ports, and land borders and will aid and support the trade and economic development of the region. Common people and businessmen of both the countries will reap the benefit of both goods and passenger traffic once trainsare operationalized on this route. The new link is expected to facilitate easier movement of tourists between both countries.Work is currently underway on the Karimganj/Mahisasan (India) – Shahbazpur (Bangladesh) rail link. Both sides are also working on the Agartala – Akhaura (Bangladesh) rail link connecting Tripura and Bangladesh.

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Ravi Dharamshi on how to bet on digital wave

We are a little underweight on the financials but that is because they haven’t reached a stage where the capex cycle begins and probably is still four to six quarters away. But that could be changing going forward, says Ravi Dharamshi, Founder & CIO, ValueQuest Investment. Why is there no financial name in your top five holdings?Yes, we are a little underweight on the financials but that is because I do not think we have reached a stage where the capex cycle begins. Some of the consumers in India are still facing the brunt of the Covid and the spending is getting redirected towards other things. MSMEs are also suffering because of Covid. So, there is a little bit of tension on that front. Also the capex cycle has not yet begun and probably is still four to six quarters away is why we are underweight. But that could be changing going forward. I would like to just put that caveat in. How can one bet on the entire digital wave and bet on a beneficiary because ultimately the benefits will also be captured by the beneficiary or a company which is adopting digital and enabling platforms or services or customer experience using the digital platform?Absolutely. In the adoption curve, usually it is the shovel sellers that benefit first and for sure the eventual benefit of the technology might be realised by the consumer at some point of time. When I say consumer, I am talking about the companies that are consuming the technology. That benefit will take some time to percolate down to the shareholder wealth creation. At this point of time, we have to look at companies that are enablers and who are riding this wave at the crest. So, we have to go after the shovel sellers or the enablers of this opportunity because the opportunity is still unfolding, the technology is still evolving and the winners are not yet very clearly known in each and every space. They are much better formed in shape and size than they were probably 10 years back but it is a very fast evolving space in terms of technology and in terms of business model. The good thing for us as an Indian shareholders or Indian investors is that we can see those trends unfolding in other geographies -- be it the US or China -- and see that a similar kind of trend is going to pan out over here. We have some benchmarks. It becomes easier. We just have to look for companies that are emulating them and one can have a good winner there. Let us talk about your portfolio companies with a disclosure that you have vested interest in them. You have a large investment in Laurus Labs. What excites you as an investor about Laurus Labs?I would also like to add that we are likely to be acting contrary to whatever gets spoken over here. This discussion is purely for illustration purpose. The decision about Laurus Labs we took almost a year back. What got us excited was that it had invested ahead of the curve. It had leveraged itself, the company and the promoter both were leveraged and it had created the capacities and the costs had been borne but the fruits had yet to come. Now it just happens to be luck that Covid struck and that just accelerated the opportunity for them. Besides, they are the largest ARV API company and there was a big shift happening in the ARV market where the treatment was moving away from the last gen to the next gen -- from TLD to DTG, Dolutegravir and they were very beautifully positioned to take advantage of that. So that was the immediate trigger/ Besides that, we always admire Dr Satya in terms of his technical and his risk taking abilities. So, here was a company that was really positioned to take advantage of the coming wave and the market was very sceptical about it and was not giving any valuation. It was giving low multiples to a very subdued P&L and balance sheet. That is why the returns have been so big because suddenly the P&L as well as the balance sheet has improved dramatically in the last four to six quarters. Route Mobile is another portfolio company. You have been an investor in Route Mobile right from the IPO day. What gives you the conviction of being invested in a tech company which is a disruptor and where you have the likes of Google and Amazon which are just changing the rules of the game?Unlike most of the tech companies, Route Mobile does not burn cash and that was the first thing that attracted us. In fact, the company has been set up with barely Rs 6 lakh capital. So, it is a profitable model. The unit economics is very attractive and the strategy was to bolster their balance sheet and try and go for scale. We can never be very sure which way the technology is panning and the twists and turns of technology can end up disrupting the disrupter as well; at this point of time, we are trying to gauge how successfully we are riding this wave. Based on the management interaction of Natco and Route Mobile which are part of your top holdings, how much of your top five holdings are likely to change in the next two to three years?I really wish I knew myself. I am going to let it pan out. At this point of time, there is no intention to change this. It will happen as we progress and we will let the fundamentals dictate it rather than trying to anticipate anything. That is an honest answer. I have no idea. I am not looking to sell any of them with a three to five year view but as fundamentals change we will keep changing our view.

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