Understanding 2021 with 15 riveting reads

In this long hair-raising time, Priyanka Pulla investigates a firm’s shoddy drug during the deadly second wave of the pandemic. In May 2021, more than a dozen hospitals in Uttar Pradesh, Rajasthan, Maharashtra, Gujarat and Bihar reported patients becoming ill after receiving remdesivir. The batches overlapped, and the manufacturer was always Cadila. Most state drug regulators act haphazardly, declaring batches of standard quality without thorough testing. Only the regulator of Bihar recognized the reason. Their testing found bacterial endotoxins in Cadila’s batch V100167—compounds present in the protective envelope of bacteria, that cause fever, chills, and Life threatening septic shock.

Problems in investing in Zomato

This story provides ample food for thought to those who had invested in Zomato’s super successful IPO. Varun Sood took a deep dive into the company’s start-up investment, potential red flags for investors. The food delivery company invested in startups like Shiprocket, MagicPin and CureFit. Some analysts don’t think these investments are strategically important to Zomato’s core business — there’s no direct synergy. In fact, financial investments can boomerang. At present, most of the valuations of all asset classes are mismatched. Any correction in future may book Zomato high marks for losses in the market. Experts also point to another problem. Chief Executive Deepinder Goyal made personal investments in startups which were later invested by Zomato Corporate governance concerns.

Looking for another Bombay High

Oil and Natural Gas Corporation (ONGC) is 65 years old. Yet, surprisingly, ONGC does not have any significant hydrocarbon discoveries for at least a decade. The firm’s crude oil production has also declined steadily. The fall in domestic output assumes particular significance at a time when India has been repeatedly locking horns with international suppliers over crude oil prices. In this piece, Kalpana Pathak explores why the oil giant needs to shed some flab now. The firm remains India’s best bet for bolstering oil security and the combination of organizational restructuring and new technology could propel ONGC forward. Back to the exploration game.

The App That’s Making Dish TV Investors Red

2021 was a year of many struggles and Dish TV has been at the center of some of them. Gopika Gopkumar and Varun Sood explore the ongoing drama between the media house and its largest shareholder. In April 2019, Dish TV founded Watcho, an OTT app. Management argued that producing original content was a way to help it get more business from customers, many of whom were spending more time consuming the movies and television series offered by the streaming platform. However, investment with shareholder Yes Bank became a major sticking point. Concern: Investment, amount of more than 1,378 crore, is not adequately explained,

The Anatomy of an Inexplicable Firecell

In this fascinating text, Sunira Tandon writes on the strange story of how two multinational investors exited a 500 crore investment for groundnut almost a decade ago. After Mahendran stepped down as Managing Director of Godrej Consumer Products, he decided to channel his energies into a new consumer goods startup. Goldman Sachs and Japanese conglomerate Mitsui joined as investors in the new venture, Global Consumer Products Private Limited (GCPPL). Cumulatively, both invested more than 500 crores. In June 2021, two investors signed off on their ownership in the company. 5 lakhs. GCPPL’s ​​ambitious plans did not work out completely, but still, it has little liability, more than 100 crore in revenue and It has Rs 35 crore cash available on its books. any why Sell ​​such a company for so cheap?

L&T’s huge jump in IT services from infra

From manufacturing things to providing services, this is the story of a great pivot. Larsen & Toubro is almost a byword for large scale infrastructure projects. However, the group’s revenue from its traditional strongholds has declined over the past five years, as has their profit margins. In contrast, revenues from its three major IT subsidiaries are contributing to the bulk of the consolidated topline, especially after the acquisition of Mindtree. Even though L&T is not deliberately emphasizing on infra as a segment, the fact remains that IT subsidiaries account for a major part of L&T’s margin profile. changing the nature of the firm, writes Tanya Thomas.

How climate change is slowing down India’s windmills

The 26th United Nations Climate Change Conference (COP26) of the Parties was held in Glasgow in 2021. While the summit discussed ways to reduce the temperature rise, there is another clear and present threat to India – the monsoon that brings with it wind. They fuel the turbines. However, the monsoon gusts are moving at an unreasonably slow pace. This is India’s renewable energy transition and the country’s Global climate responsibility at stake, But why are wind patterns changing? Utpal Bhaskar has answered in this very insightful report.

Forgive us for asking, but what is Cred’s business model?

It’s a question that everyone—employees, other entrepreneurs, investors, people on Twitter—asks Kunal Shah: What’s your business model? When Mihir Dalal wrote the story, Cred, the company that Shah founded, had just launched three business lines: Lending, where it provides a line of credit to users of banks at below-average interest; rent payment, where it takes the cut-off payment; And commission is charged on the products and services sold on its app. Can these revenue initiatives Make the business viable?

How ICICI Bank got back in the ring

Gopika Gopkumar and Shayan Ghosh write on an executive known for putting out corporate fires. Sandeep Bakshi was the one who turned to ICICI Pru. What he gave made him a shoo-in candidate to restore the credibility of ICICI Bank. He took over the charge of the bank at the end of 2018. In just 10 quarters, sweeping changes were made – Lenders Renewed our focus on quality assets, is diverting its earlier focus on development.

The Inside Story of a High Seas Rescue

On 17 May, between 9.15 am and 9.30 am, the Indian Navy’s Maritime Operations Center at Kochi, Kerala received an SOS that the anchorage ropes of a construction barge had given way. Cyclone Touke had knocked. The lives of 714 people on board the five ships working for ONGC were at risk. Then began the largest ever offshore search and rescue operation in the Arabian Sea. Kalpana Pathak captured this dramatic A tale of desperation and bravery,

Death of single screen cinemas in India

Let’s go back to the disastrous months of 2021—April and May—when the deadly second wave of the pandemic was at its peak. Along with life, the economic picture also blurred. For example, the film business. Theaters were closed indefinitely in some states. Result: About 20% of India’s movie screens, particularly those of independent owners in North India, were not able to cope with the loss in revenue. A generation of entrepreneurs whose lives revolved around cinema needed to find ways to move forward. Lata Jha comes with a Heart breaking story.

French to stabilize Wipro’s ship

When Frenchman Thierry Delaporte took the job of CEO at Indian IT services major Wipro Ltd, the currents were not in favor of the company. In 2018-19, for the first time in its history, it was ranked fourth in terms of revenue among IT companies in India. In the early days of India’s IT story from 1984 to 1998, Wipro used to be the second largest in terms of revenue and since then, third behind Tata Consultancy Services Ltd and Infosys Ltd. But losing third place to HCL Technologies Ltd came as a sharp reminder that the company was lagging behind in IT sweepstakes. Today, Delaporte is just born new Credible turnaround story to tell, Ayushmann Barua decodes that story.

Inside HDFC Bank’s Digital Stumble

After an initial spate of digital transaction failures in 2019, HDFC Bank faced at least two other major online outages. Customers complained repeatedly and the bank apologized. But it had to become a pattern. After customer complaints, news reports will come, the bank will say sorry, and life will go on. At a loss to explain what was happening, analysts questioned the bank at regular intervals, trying to push for an adequate response. The bank continued to give cryptic explanations, withdrew more than it had given. What was going on after all? Shayan Ghosh and Kalpana Pathak try to find out in this long read.

How India was blinded by black fungus outbreak

In this gripping piece, Priyanka Pulla examines why mucormycosis – commonly and incorrectly known as the black fungus – devastated lives during the pandemic. India had over 40,845 cases and 3,129 deaths till June 28. The outbreak left thousands dead or disabled after facial surgery to remove parts of the infected eyes, nose or jaw. Despite early signs in 2020, India remained unprepared for a devastating second outbreak. Amphotericin B stocks – the best drug available for treatment – ​​have been exhausted across India, possibly increasing the mortality rate. How can India be Handled the outbreak better? If research into fungal diseases was not neglected for a long time, its impact could have been bleak.

Carcinogenic Toxins: Banned Elsewhere, Sold in India

In June 2018, the European drug regulator learned that batches of a drug called valsartan contained high levels of a potent carcinogen called N-nitroso-dimethylamine, or NDMA. Since the initial discovery in 2018, European regulators, the US FDA, Health Canada and Australia’s TGA have discovered not only NDMA but several other related compounds in various drugs. Elsewhere in the world, the findings have followed recalls and suspensions of sales of contaminated batches. However, the pharma industry in India has been left to its own devices. Priyanka Pulla raises relevant question: Why did India’s drug regulator do this? So little to protect civilians?