News in numbers | Value of investors’ assets in MFs up 19% in one year3 min read . Updated: 19 Nov 2015, 11:30 AM IST
Ola gets $500 million fresh investment; Apple crosses $1 billion sales mark in India
What is it? The share of its total external funding ($1.3 billion) that cab aggregator Ola has raised in the last one year ($1.2 billion).
Why is it important? Ola took three years to reach the $1 billion valuation mark, but just about a year to hit $5 billion. This assumes importance given the concerns in some quarters about the sustainability and profitability of India’s unicorns such as Ola, Flipkart and Zomato.
Tell me more: On Wednesday, Ola raised $500 million in fresh funds from investment management firm Baillie Gifford, China’s largest taxi hailing service Didi Kuaidi and existing investors Falcon Edge Capital, Tiger Global, SoftBank Group and DST Global.
What is it? The amount by which the turnover of Apple in Greater China exceeds its turnover in India, according to company filings.
Why is it important? In 2014-15, the maker of iPhones and iPads reportedly crossed $1 billion in revenues in India, with a doubling of revenues in two years. Despite this scorching growth, Apple’s chief executive Tim Cook has in the past expressed impediments to business caused by a multi-layer distribution channel.
Tell me more: In 2014, Apple recorded $29.8 billion in revenues from Greater China, $14.9 billion from Japan and $10.3 billion from the rest of Asia-Pacific. Its revenues in the US stood at $65.2 billion and in Europe at $40.9 billion.
₹ 20,000 crore
What is it? The amount the government is seeking to raise from a 10% stake sale in state-run Coal India, which the cabinet approved on Wednesday.
Why is it important? If the government is able to raise this, it would reach at least about 47% of its disinvestment target of 69,500 crore for 2015-16. Finance minister Arun Jaitley has admitted it is difficult to achieve the disinvestment target this year with low commodity prices hitting share valuations. Coal prices have tumbled to new lows in recent times due to slowing demand.
Tell me more: So far, the government has raised ₹ 12,701 crore (18.3% of its target) by selling stakes in Power Finance Corp., Indian Oil Corp., Rural Electrification Corp. and Dredging Corp. If the disinvestment target is missed, it would be the sixth year in a row.
What is it? The increase in the value of assets held by investors in mutual funds between September 2014 and September 2015, to ₹ 12,93,633 crore, according to data from the Association of Mutual Funds in India (Amfi).
Why is it important? It is in this backdrop that Invesco, a US fund house, on Wednesday bought out the entire 51% stake of its local partner, Religare, in Religare Invesco Asset Management Co. Earlier this year, Reliance Mutual Fund bought Goldman Sachs Mutual Fund.
Tell me more: The growth in the mutual fund industry, in general, has failed to make a satisfactory business case for many mutual fund hopefuls, including prominent foreign names like Deutsche Bank, PineBridge and ING, in recent years.
₹ 2,000 crore
What is it? The amount to be used for rehabilitating Kashmiri migrants, a proposal approved by the Cabinet on Wednesday.
Why is it important? An estimated 450,000 Kashmiri migrants, along with some Sikh and Muslim families, fled the Kashmir Valley when militancy reared its ugly head more than a couple of decades ago. But only one Kashmiri Pandit family has returned to the Valley in 25 years. Also, of the 3,000 state government jobs to be provided, only 1,963 posts have been filled. This shows the previous rehabilitation package of ₹ 1,618 crore sanctioned in 2008 has not worked, raising questions if additional funding would do anything to improve the situation.
Tell me more: The new package is aimed at providing an additional 3,000 state government jobs with financial assistance and transit accommodation to Kashmiri migrants.
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