January 04, 2016 | A FinNiche Initiative
EDITORIAL I S S U E
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J A N U A R Y
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Welcome 2016 !! As we partied our way into the new year, a lot of our seniors have left the campus life forever.
CONTENT
We wish all of them good luck for their future. A new year brings another challenge and as
Modi’s Five Es | 2
always, IMT is up for it.
Apple Vs Samsung: Patent Battle | 4 TRENDING NEWS | 6
With new things happening all around, we thought of bringing a change in the FinXpress as well. So presenting in this edition is a new section—Start-Up Tracker wherein we’ll focus on some of the recent start-ups performing or expected to perform well in the future, looking
MARKET | 7
into their proposed business model.
PERSONALITY | 8
Embracing the winter chill, we once again wish everyone a very happy new year. We also wish
STARTUP TRACKER | 10
a safe and successful journey and a fun experience for the students going for the student exchange program. Club FinNiche welcomes any comments, suggestions or criticism regarding the magazine. Please do write to us and share your ideas.
SPONSORS | 11
Happy Reading! Regards The Editorial Team Club FinNiche
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NATIONAL B Y
A B H I N A
P A N D A
Modi’s Five Es Our Prime Minister Mr. Modi has always SNIPPETS
been persistent on his stand for the well
being of the people of India. His endeavors like “Make in India” and “Digital India” along with the very popular Swachh Bharat Abhiyan have won many accolades from critics all over the world. Having travelled all over the world and trying to bring
The five Es according to him were
something beneficial to India each time has
Economy
been his major motive. The 103rd Indian
Environment
Science Congress which began in the
Energy
sprawling Mansagangotri campus of Mysore
Empathy
University on Sunday witnessed prime
Equity
Minister giving a new mantra comprising of five
Es
for
scientists’
enquiry
and
engineering. Quoting Modi, “The impact of science will be
the
most
when
scientists
and
technologists will keep the principles of what I call the Five Es at the center of their enquiry and engineering”, addressing a vast sea of distinguished scientists , Nobel Laureates and hundreds of students.
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Defining each of these, he said, “ Economy is when we find cost effective and efficient solutions, environment– when our carbon footprint is the lightest and its impact on the ecology is the least possible, energywhen our prosperity lies less on energy and the energy we use keeps the earth green and the sky blue,” in the inaugural ceremony of this five-day long event.
Explaining the other two Es, He said,
develop better scientific tools to improve
“Empathy would be when efforts are in
city planning with sensitivity to local
tune with one’s culture, circumstance
ecology and heritage and appropriate
and social challenges. Equity is when
p ra c tica l
science advances inclusive development
management.
and
Stressing on the importance of blue
improves
the
welfare
of
the
so lu tion s
economy,
Explaining on how to promote these five
government has increased its focus on
Es,
how we treat our oceans and improving
Modi
cleared
that
the
also
said
w a ste
weakest.” Mr.
he
fo r
that
the
government is striving hard to make it
the way we treat our land.
easier to conduct scientific research in
The
the country.
scientists and experts from the country
Addressing
the
galaxy
of
science
ISC adorned over 500 eminent
and abroad scheduled to address the
enthusiasts he also said that he was
meet.
encouraging
collaboration
Besides Karnataka Governor Vajubhai
between the state and central institutions
Vala, State Chief Minister Siddaramaiah,
as an integral part of cooperative
Union
scientific
Minister
for
science
and
Vardhan
and
federalism. The Prime Minister also talked about the rising challenges of rapid urbanization as it is crucial for a sustainable world. He noted, “Cities are the major engines of economic
growth,
em ployment
opportunities and prosperity, but, cities
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account for more than two– thirds of
Technology
Harsh
global energy and pollution which results
renowned scientist C.N.R. Rao, honored
in about 80 % of global greenhouse gas
with the Bharat Ratna, the country’s
emission.”
highest
Mr. Modi also emphasized on the need to
occasion.
civilian
award,
graced
the
INTERNATIONAL B Y
A B H I S H E K
G U P T A
Apple vs Samsung: Patent Battle Apple and Samsung have been taking on each
SNIPPETS
Apple wins $1 Billion in Patent Lawsuit
other in relation to patent infringement since
2011 when Apple sued Samsung alleging that
Apple was awarded $1 Billion by a US Court
Apple and
several of Samsung’s phones and tablets had
as compensation from Samsung in the biggest
Samsung fight
infringed on Apple’s intellectual property i.e.
patent case. Analysts believed that the costs
its user interface, trademarks, patents, and
could be tripled since jurors had found that
style.
Samsung willfully infringed. Samsung marked
over patent infringement
Apple wins $1
the statement as a loss for consumers.
Billion in lawsuit
Apple had submitted as evidence its iPhone
Samsung agrees
3GS and Galaxy S i9000 side by side to
Apple had wanted an order to be issued that
to pay $ 548 Million
illuminate the “alleged similarities in packaging
would prevent future sale of 9 Samsung
and icons for apps”. Samsung and Apple have
models in the US that had infringed on the
been taking this fight to all parts of the globe
iPhone technology. But, a federal judge had
with cases in South Korea, Japan, Germany,
rejected the plea claiming that Apple had not
France, Italy, Denmark, Australia and US
successfully proven the intellectual theft.
Apple Seeks Additional $180 Million
Courts.
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San Jose and California juries had decided
Samsung filed an appeal in US Court on
that Samsung owed to Apple Inc. an
the same day it agreed to pay $548
amount of $930 Million as part of
Million against the patent design claiming
settlement for patent infringement.
that the way laws were interpreted is not in line with the modern times.
Samsung agrees to pay $ 548 Million Apple Seeks Additional $180 Million Samsung agreed to pay Apple $548 Million in the patent fight case but also
Apple on its part has asked Samsung to
made a statement that “it would pay
cough up more money just a week after
Apple the partial judgement awarded
Samsung’s agreement to pay $548 Million
but….. Reserved the right to get money
for infringing the patents.
back….. If the validity of patents at issue
Apple has asked a US Court to direct
is successfully challenged.” But Apple
Samsung to pay up almost $180 Million in
retaliated by saying that it disagreed with
supplemental
Samsung’s contention that “ it has a right
Apple has made this claim for patent
to be reimbursed”.
infringement
damages related
and to
5
interest. Samsung
devices sold after the 2012 Jury Verdict.
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TRENDING NEWS I S S U E
1 2
B Y
Indian American Rakesh K
COMMODITIES GOLD
A R N A B
J A N A
Jain
jamming. After carrying out some more
selected for US National Medal of
trials, including air launch trial with a
Science 2015
warhead, the missile is expected to be
Indian American professor Rakesh K Jain
inducted into the Air Force in 2016.
was on 22 December 2015 selected for
LRSAM successfully test-fired from
INR 25278/10G
the National Medal of Science 2015 of
INS Kolkata
SILVER
United States (US). Jain is a professor at
Long
INR 33722/KG
Harvard Medical School and Director of
(LRSAM), the missile co-developed by India
the
at
and Israel, was successfully test-fired on 30
Massachusetts General Hospital. Prof. Jain
December 2015 on the Western Sea
is regarded as a pioneer in the area of
Board. The missile was fired from INS
tumor
widely
Kolkata and it successfully intercepted an
recognized for his seminal discoveries in
aerial target at extended ranges. The
tumor biology, drug delivery, in vivo
test-fire was jointly carried out by the
imaging
Indian
CRUDE OIL INR 2504/BARREL
EXCHANGE RATES INR 66.54 / 1 USD INR 72.56/ 1 EURO
Tumor
Biology
Laboratory
micro-environment
and
and
bioengineering.
Awarded
Range
Navy,
Surface-to-Air
Defense
Missile
Research
and
annually, the Medal recognizes individuals
Development
INR 0.56/ 100 YEN
who have made outstanding contributions
Israel Aerospace Industries.
INR 98.45/ 1 STERLING
to science and engineering.
DAVA project of Department of
Indigenously developed Air-to-Air
Commerce won 2015 eASIA Award
missile Astra successfully test fired
DAVA
Indigenously
Visual
Verification Application Project on 31st
Range (BVR) air-to-air missile, Astra, was
December 2015 won the 2015 eASIA
on 25 December 2015 successfully test
Award under Trade Facilitation category.
fired. The test was conducted by the Indian
The award was announced by Asia Pacific
Air Force off the coast of Odisha near the
Council
Integrated Test Range (ITR), Balasore.
Electronic Business (AFACT) in Tehran,
In addition to this air trial, the missile
Iran.
underwent successful ground based trials
DAVA is an integrated platform for
in early December 2015 near Pune. The
implementation of the Track and Trace
tests were aimed at validating the ECCM
system both for exports and domestic
(electronic
markets of Drugs and Pharmaceuticals.
developed
Beyond
counter-counter
measure)
features of the missile to overcome any
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6
or
for
Organization (DRDO) and
Drug
Authentication
Trade
Facilitation
and
and
MARKETS B Y
A L A N K R I T A
The last trading day of the year ended on a promising note with SENSEX gaining 158 points and broad-based NSE Nifty rising by 50.10 points . Globally, the trend in asia was mixed, whereas in early trade Europe showed decline. TOP GAINERS
HDFC Bank
RIL
Maruti Suzuki
TCS
M&M
Open
High
Low
Close
SENSEX
26101.50
26197.27
26008.20
26160.90
NIFTY
7938.45
7972.55
7909.80
7963.20
BSE SENSEX
TOP LOSERS
Axis Bank Hero MotoCorp
L&T
ICICI Bank
Dr Reddy’s
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CNX NIFTY
7
PERSONALITY B Y
T U L I K A
Chitra Ramakrishnan SNIPPETS
Though she has never invested in stocks,
Mumbai.
she can outsmart even the most seasoned
Starting out her career as a certified
of stock market giants. Her interest and
Chartered Accountant, Ms. Ramakrishnan’s
her knowledge of the world of securities is
first brush with the world of finance came
unmatched and developed in the late
when she joined the project finance
eighties when she joined a team closely
division of IDBI in 1985. Then she went on
involved
legislative
to do a stint at SEBI to draft its legislative
framework of SEBI. She is none other than
framework and returned to IDBI two years
Ms. Chitra Ramakrishnan, the first woman
later. It was here that she honed her
MD and CEO of the National Stock
financial skills by working at the treasury
Exchange (NSE) which is perched at the
and
top trading venues for some time with a
marketing the deep discount bonds.
consolidated net profit of 6.5 time that of
During her career she has taken up some
the Bombay Stock Exchange Ltd.
key positions like:
She comes from a family of accountants.
in
drafting
the
Her father was a Chartered Accountant (CA)
and
her
grandfather
a
Cost
departments
while
Joint managing director of National Stock Exchange of India Ltd.
Head of Listing and Deputy managing director of National Stock Exchange
the most obvious choice for her. She is a
of India Ltd.
College of Commerce and Economics, 8
income
Accountant thus a qualification like CA was commerce graduate from the RA Podar
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fixed
Member
of
Securities and
Derivatives
Panel
of
And Exchange Board Of India.
She
is
credited
Director of National Stock Exchange
instrumental
of India Ltd.
pan-India VSAT network and building and
Member of Executive Committee at
developing infrastructure for India’s first
National Securities Depository Ltd.
depositor. She is also credited for
since 9 March 2009
facilitating
role
in
an
establishing
a
screen-based
trading,
providing access to the trading even in
the late
Mr. SS Nadkarni, then
the remotest corners of the country.
chairman of IDBI, to set up NSE from
Under her watch NSE launched several
scratch with a vision to create a stock
of its most popular products like futures
exchange with national presence and the
and
ability to provide a fully automated
aka the ETFs, global indices like the S&P
screen based trading
platform. She is
500 and a dedicated debt platform to
regarded as a thought leader and an
encourage retail investors to trade more
institution builder and is a part of several
in corporate bonds just like other stock
of
options. Her vision and hard work has
the
important
industry
options, Exchange Traded Funds
SEBI’s
led to the success and proliferation of
Committee on Disclosures and Account-
the CNX Nifty 50 as a global brand with
ing Standards, CII’s National Council on
Nifty’s
Financial Sector Development, FICCI's
approximately
National
internationally. Under her, NSE has over
such
Executive
as
Committee
and
ETFs
traded
15
countries
the
Her achievements have brought her
ecosystem with a reach of more than
appreciation and accolades from various
1500
organizations around the world. She
capitalization of over a trillion dollars
ranks 17th in the list of top global
The woman is not all about money and
women business leaders by Forbes
markets. She has a passion for Carnatic
magazine, USA and ranks as second most
music and likes to play Veena in her
powerful businesswoman in India. She has
spare time. She is also passionate about
been selected as the woman of the year
her
by
vehicle of financial well-being of the
in
Business
Leadership
become
in
Capital Markets Committee.
Forbes
years
being
locations
and
a
transparent the
market
desire of transforming NSE into a
Awards.
people by creating investor friendly
Ms. Ramakrishnan has taken several key
products that are simple and easy to use
initiatives
at NSE to bring it to the
and also create investor education so
premium position that it enjoys today.
that the corporate giants and public can make money equally.
9
playing
She was one of the five handpicked by
body-committees
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for
START-UP TRACKER B Y
B H A G I R A D H
S I S T A
JET.COM SNIPPETS
Founders: Marc Lore, Nate Faust and Mike Hanrahan Headcount: 101-250 (as on Aug 2015) Industry: ecommerce
What it is: Marc Lore, the former CEO of
Returns are available for free within 30 days of
Quidsi, has been working on a mysterious
purchase on Jet.com, with Jet.com adding
e-commerce startup that wants to take on
additional
Amazon. Jet.com launched in beta, backed by
customers waive this option. Jet.com offers
investors including Chinese e-commerce giant
something called “smart card” items that
Alibaba, for 10,000 "insiders." The site promises
automatically unlocks additional savings when
to offer prices that are 10-to-15% lower than
added to customer shopping carts. Funding
anywhere else, including Amazon. Instead of
received for Jet.com has totaled $225 million,
making a profit by taking a cut off the top of
with 17 total investors involved according
product prices, Jet makes money solely from a
to Crunchbase.com. The founder of Jet.com
Costco-esque membership free: Users have to
is Marc Lore, an e-Commerce veteran who
pay $50 a year to shop.
previously was the co-founder, chairman and
Marketed as having a “nifty price tool” that
CEO of Quidsi, the parent company of
discovers the “best prices off the web”, Jet.com
Diapers.com
markets itself as an online warehouse that
membership of Jet.com is $49.99 – which is
typically saves customers “10 to 15″ percent
about a $5 savings from Costco’s “gold star”
from all other available online prices. Small
membership rate and about $50 less than
items and large items alike are among the 10
Amazon’s Prime membership – and is currently
million plus items available on Jet.com, as are
being offered for free for a 90 day trial.
bulk based items and singular products, as
Funding: $225 million from David Spector,
well. Jet.com orders items in bulk from other
Primary
online companies, allowing them to reduce
Ventures,
their retail price on their own website. Beyond
Partners, New Enterprise Associates, Silicon
buying on Jet.com, customers of Jet.com are
Valley Bank, Western Technology Investment,
encouraged to “Jet Anywhere” and shop on
Citi
other sites that include Macy and the Gap as
Holdings, Norwest Venture Partners, Google
part of an affiliate program they have with these
Ventures, Goldman Sachs, General Catalyst
merchants. Chinese mega-company Alibaba.com
Partners, Coatue Management, Alibaba
reportedly invested in Jet.com – aiming to
Website: https://jet.com/
challenge
Amazon.com
in
popularity among consumers.
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their
online
savings
and
Ventures,
final
Soap.com.
Venture Bain
to
Partners, Capital
Thrive
purchases
The
if
annual
MentorTech
Ventures,
Capital,
Accel
Temasek
OUR SPONSORS
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