OPINION, P2 MIND & GAMES A brutally unexpected year turned millions of people into gear nerds, whether they liked it or not Page 10 Reforms without growth FE LINES Blurring the lines between physical & virtual worlds, fashion has gone beyond storytelling today Page 6 GADGETS WERE ON THE WAY OUT. THEN 2020 HAPPENED ACROSS THE AISLE , P CHIDAMBARAM High-tech fashion LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL .XVIII NO. 103 FANTASY GULLY FINANCIAL EXPRESS ON SUNDAY NEW DELHI SUNDAY, OCTOBER 18, 2020, 20 Pages, `10 (Patna `11, Raipur `10) P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H E N N A I , READ TO LEAD H Y D E R A B A D , K O C H I , DISCONNECT FE BUREAU New Delhi, October 17 A MAJOR FIGHT is brewing ■ WORDS WORTH, P4 Aworking hypothesis Daniel Susskind’s vision of the future is something to deliberate about ROHNIT PHORE between telecom operators Bharti Airtel, Vodafone Idea and Reliance Jio on one side and technology players Google,Microsoft,Apple,Facebook, etc, on the other, over a spectrum band that has the potential to provide highspeed broadband services, especially in remote areas and forbetterin-buildingcoverage. Theissuethathasdividedthe twosidesiswhetherspectrumin the band concerned should be delicensedorshouldbeallocated through auctions,as is the case foraccessservicesspectrum. Thetelecomoperators,under theaegisoftheirassociation,Cellular Operators’Association of India (COAI),have written a letter to the government that the ■ Have low propagation characteristic ■ They are provided for very short link ■ Used for broadband services, not for direct mobile connectivity ■ Managing assignment is a Herculean task What’s the best way forward ■ De-licence them ■ Have light touch regulation by charging token amount ■ Trai has also suggested against auctioning spectruminthebandconcerned should be auctioned, as not doingsowouldleadtolossofrevenuetothegovernmentbecause ofthesebandshavingaveryhigh commercial value proposition. Opposing their stand,the technology players through their association Broadband India Forum (BIF) have contested COAI’s stand, and written that the spectrum should be delicensedandnotauctioned,asitis not the same as spectrum for accessservices.Questioningthe COAI’sstand,BIFhaspointedout QuickPicks New Zealand’s Ardern wins 2nd term in landslide election NEW ZEALAND PRIME Minister Jacinda Ardern won a second term in office on Saturday in an election landslide of historic proportions, reports Associated Press. With most votes counted, Ardern's liberal Labour Party was winning 49% of the vote compared to 27% for its main challenger, the conservative National Party. that auctioning of spectrum in these bands would go against internationalbestpractices. The spectrum concerned is theEandVbands,whichareused as backhaul to connect mobile wherefibreisnotavailable. Sourcesinthedepartmentof telecommunications(DoT)have thus far maintained that auctionisruledout,butsoisadministrative assignment, which means allocating spectrum on first-cum-first-served basis. Continued on Page 3 FE BUREAU Mumbai, October 17 HDFC BANK ON Saturday reported an 18.4% year-onyear (y-o-y) growth in net profit for the quarter ended Septemberto `7,513 crore on the back of a 16.77% y-o-y rise in net interest income (NII) to `15,776 crore, with non-interest income growing 9% y-o-y. However, the bank’s provisions rose 37% y-o-y to `3,703.5 crore. In a statement, HDFC Bank said total provisions for the current quarter includes contingent provisions of approximately `2,300 crore forproforma non-performing assets (NPA), as well as additional contingent provisions to make the balance sheet more resilient. Continued on Page 3 D E L H I , P U N E BUYER PREFERENCE Latest wheels set sales in motion BUMPER SALES ● New car models, extra features driving demand Sept 2019 Growth (%) Sept 2020 (units) Maruti Suzuki Ignis 1,266 3,318 VIKRAM CHAUDHARY New Delhi, October 17 Hyundai Creta 6,641 APARTFROM PENT-UP demand, Maruti Suzuki S-Cross 1,040 2,098 sales of passengervehicles have been rising for the past two months on the back of new launches as well,like a Hyundai Creta (newvariant) and Kia Sonnet.Forinstance,intheJuly-September 2020 quarter, the new Cretasold35,632units,agrowth of85.3%over19,227(according to data by PGALabs,the market research arm of Praxis Global Alliance).Analystssaythenovelty factor is a major factor to drive peopletoshowrooms. Sanjeev Garg, practice leader, automotive, Praxis Global Alliance, says this year 162 12,325 86 Tata Harrier 941 1,755 102 « As hotels reopen across the country, we check out how things have changed in a sector that relies heavily on a personalised experience and how the industry is adapting to offer the same services, but without a ‘personal touch’ ■ Because of low propagation characteristic, have low value HDFC Bank Q2 net rises 18.4% y-o-y N E W « New rules of hospitality ■ They are used as backhaul to connect mobile where fibre is not available PROVISIONS UP 37% M U M B A I , « ■ SPOTLIGHT, P7 Why should they not be auctioned L U C K N O W , « ● Dispute brewing over access to bands allowing high-speed connectivity What are E & V Bands K O L K A T A , « Spectrum dividing telcos, tech firms WHAT'S INSIDE ODD & EVEN C H A N D I G A R H , The world of fantasy sports has seen a major boom in the country amid the pandemic Page 5 87 Source: PGA Labs saw a lot of new car launches, and“substantial salesarecoming from models such as new Creta, Sonet, new Maruti SuzukiS-CrossandTataAltroz”. Even a relatively lower selling car,the S-Cross,was able to get onto the noveltywave. Continued on Page 3 DCGI nod to DRL’s human trials for Sputnik V Hyderabad:DrReddy’sLaboratoriesandRussianDirectInvestment Fund on Saturday announced that they have receivedapprovalfromtheDrug Control General of India to conduct an adaptive phase 2/3 human clinical trial for Sputnik vaccine in India.The city-based drugmakersaidinapressrelease that this will be a multi-center and randomised controlled study,which will include safety andimmunogenicitystudy. GV Prasad, co-chairman and MD, DRL, said, “This is a significant development that allows us to commence the clinicaltrial inIndia andwe are committed to bringing in a safe and efficacious vaccine to combat the pandemic.” Continued on Page 3 ALVIDA KHANSI HERBAL COUGH SYRUP /TorexHerbalCoughSyrup JET AIRWAYS SORE THROAT Kalrock-Jalan resolution plan gets nod COLD COUGH almost half of the 45-50 million online shoppers this year will come from smaller towns this season. OnthefirstdayofFlipkart’s Big Billion Days sale on Friday, nearly 50% of the new customerscamefromtier-IIIcities andbeyond.Amongcategories, thehomesegmentregistereda 53% increase in new customers from tier-III cities. Continued on Page 3 Continued on Page 3 BACK ON TRACK A monorail from Chembur to Jacob Circle on a trial run a day before resumption of services in Mumbai PTI Value for money order of day ● E-tailers betting on small towns to drive festive sales DEVIKA SINGH New Delhi, October 17 DESPITE THE COVID-19 pan- demic and muted consumer sentimentondiscretionarypurchases this year, retail analysts are hopeful of festive sales bringing the cheer back into shopping, particularly online. The first leg of festive sales on online marketplaces, which kicked in on October 16, is expected to rake in $4 billion in grossmerchandisevalue(GMV), as perRedSeerConsulting. Flipkart’sflagshipfestivesale eventBigBillionDaysstartedon October16andwillendonOcto- E-commerce trends in Q3 (%, y-o-y) 24 increase in GMV 31 volume growth Various segments in Q3 decline 5 in average order value 90 growth from tier III and beyond (Order volume growth, %) Fashion & accessories 30 Personal care Health and pharma 100 75 ber 21, while Amazon’s Great IndianFestival,whichstartedon October 17, will go on for a month. Other players like Snapdeal and Myntra, too, launched their first sales events oftheseasononOctober16. Amidst the pandemic, etailers this year have sharpened their focus on the ‘value’ play, as they expect first-time buyers from tier II and beyond towns to drive growth.According to the RedSeer report, Source: Unicommerce /TorexCoughSyrup /TorexHerbalCoughSyrup TULSI Tulsi helps suppress cough and aids the mobilization of mucus. ANKUR MISHRA Mumbai, October 17 LENDERS TO JET Airways have approved the resolution plan submitted by a consortium led by Kalrock Capital and entrepreneurMurariLalJalan.FEhas learned that Kalrock Consortiumhadoffered`860croreto all lenders, including financial and operational creditors. The airline had admitted claimsworth `15,525 crore,of which admitted claims of financial creditors stood at `7,460 crore.The otherbidder was a consortium comprising Haryana-based Flight Simulation Technique Centre, Mumbai-based Big Charter and Abu Dhabi’s Imperial Capital Investments. The resolution professional (RP) for Jet Airways Ashish Chhawchharia will now move National Company Law Tribunal (NCLT) for its approval. “TheofferbyKalrockconsortium was very close to liquidation value.But,we had voted to keep the company as a going concern, ” a senior executive involved in the matter told FE. The resolution plan submitted by Kalrock consortium was slightlybetterthantheotherbidderintermsofvalue,headded. Jet Airways had earlier attracted 12 expressions of interest (EoIs) from bidders, which were narrowed down to two prospective suitors.One of the two bidders had sought more time to revise the bid upwards, and lenders had agreed to give more time for both consortiums to submit revised bids. /torexherbcoughsyrup PIPPALI Pippali provides relief from cough and congestion. VASA Vasa improves voice quality and relives cough. KULANJAN Kulanjan is eﬀective herb for pearing cough and throat itching. YASHTIMADHU Yashtimadhu treats cough, hoarse voice, chest congestion & sore throat. Alcohol Free WITH BENEFITS OF TULSI & HONEY Distributor contact : Delhi - Raj Ayurmed Bhagirath Palace +91 92108 01700, 80764 36657 RSM : +91 886012040 7527038812 | ASM : +91 99688 86667 For more information, please contact : +91 97792 14455, +91 73199 35154 (Whatsapp) / firstname.lastname@example.org New Delhi
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