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MARCH 15, 2015 | A FINNICHE INITIATIVE
In Focus
Do write to us at: finniche.imt@gmail.com
Reducing Import Duty
On Gold | 2
Opinion Investor Activism | 4
Term of Week Hedge Funds | 7
Tech World Personality Rajeev Chandrasekhar |12
FlashBattery |13
March 15, 2015 | Volume 38
With the whole IMT is preparing for Convocation 2015 which is scheduled on 18th of this month, the students are also eagerly waiting to listen to Mr. Rahul Bajaj who would be chief person for this years’ convocation.
Reducing Import Duty on Gold
Club FinNiche releases its weekly magazine FinXpress, with the In Focus talking about the ‘Reducing Import Duty on Gold’. The Opinion gives an overview of ‘Investor Activism’.
Investor Activism
The term of the week describes ‘Hedge Fund’, a process to decide which long term investment to make. Do have a look at the market section, Tech world which brings to you about Flash Battery and Personality of the week, Rajeev Chandrasekhar.
Hedge Funds
Club FinNiche welcomes any comments, suggestions or criticism regarding the magazine. Please do write to us and share your ideas.
Happy Reading!
Rajeev Chandrasekhar
Regards The Editorial Team Club FinNiche
Flash Battery
Disclaimer: FinXpress takes no responsibility for the opinions expressed in the magazine.
- By Shikha Sharma
As per data released by the Commerce Ministry this month,
 The
Government cuts import levy on gold and
impossible to USD 15.64 every ounce. In
amid the first fortnight of the month, the tax
February, gold imports had bounced by 49
esteem on transported in gold was altered at
percent to USD 1.98 billion when contrasted
USD 393 every 10 grams and on silver at USD
with the year-back period, while silver
549 every kg. The import levy quality is the
shipments shrunk by 60.47 percent to USD
base cost at which traditions obligation is
121.42 million in the same period.
resolved to counteract under-invoicing. Gold is the second-biggest import thing for
in
India after petroleum. Higher gold import bill
48.78
unfavorably influences the nation's present
percent on a year-on-year
record shortage (CAD). The legislature has
gold
February
shipments jumped
been more than once asking individuals to
basis.
stop from purchasing gold and rather put
 India is the largest importer
resources into other sparing instruments. In
of gold, which is mainly
spite of facilitating in gold import standards,
utilised to meet the demand
the shipments had dropped strongly in
of the jewellery industry.
December 2014. The December import figure remained at USD 1.34 billion, around oneThe administration has sliced import tax
fourth of the amount in November. According
esteem on gold to USD 375 every 10 grams
to information discharged by the Commerce
and silver to USD 512 every kg taking after
Ministry not long from now, the gold
powerless worldwide value patterns. Amid
shipments in February bounced 48.78 percent
the first fortnight of the month, the duty
on a year-on-year premise. India is the biggest
esteem on foreign gold was altered at USD
shipper of gold, which is basically used to
393 every 10 grams and on silver at USD 549
take care of the demand of the adornments
every kg. The import tax worth is the base
business.
cost at which traditions obligation is resolved
to anticipate under-invoicing. It is modified
In November 2014, the RBI had facilitated
on
considering
confinements on gold imports by scrapping
worldwide costs. The abatement in duty
the dubious 80:20 plan. Under the 80:20
esteem on transported in gold has been
standard, put set up in August 2013 to check
advised by the Central Board of Excise and
high gold inflows that was augmenting the
Customs, as per an authority proclamation
current record shortfall, no less than 20
discharged toward the end of last night. Gold
percent
in New York, which regularly sets value
obligatorily sent out before getting new parts.
a
fortnightly
premise
of
the
foreign
gold
must
be
incline on the residential front, declined from a high of USD 1,162 every ounce and is as of
Government has been more than once asking
now controlling at USD 1,158.60 every ounce.
individuals to halt from purchasing gold and
Silver excessively has dropped, making it
rather put resources into other sparing
instruments.
Higher
gold
import
bill
13.5% in 2014 to 842.7 ton as gold venture
antagonistically influences the nation's present
interest dove by more than half, as indicated
record shortfall (CAD).
by the World Gold Council. Gold adornments request in the nation climbed 8% last year to
The information further uncovered import of
662 ton from 612.7 ton in 2013. Speculation
silver shrunk by 60.47 every penny in
request, then again, drooped to 180.6 ton from
February to USD 121.42 million. Imports of
362.1 ton amid the same period, in sharp
petroleum, unrefined and its items shrank
complexity to the worldwide pattern of 2%
55.49 percent. Gold request in the nation is
general development. Bamalwa of All India
relied upon to ascend to 10% this wedding
Gem & Jewelry Trade Federation said the
season, which commences not long from now
speculation
and proceeds till ahead of schedule June
universally
contrasted with a year-back period, helped by
Monday,
a critical fall in its costs, exchange insiders say.
worldwide markets, yet it stayed close to a
Bachhraj Bamalwa, executive at All India Gem
three-month low as the US dollar hit a 11-year
& Jewelry Trade Federation, said the business
high after solid US employments report
expects gold request in the gems portion to
helped desires that the Federal Reserve would
climb 5-10% over a year ago. "Value fall will
soon build premium rates.
interest gold
will
costs
however,
stay
have
gold
less
as
fallen.
On
edged
up
in
unquestionably be a driver for adornments deals," he told ET.
Somasundaram PR, MD (India) at World Gold Council, said the basic driver of gold request
Costs of the yellow metal fell by Rs 1,000
in India is the social fondness towards gold
every 10 gm in the previous one week to
coupled with a rich local shrewdness about
around Rs 26,400 on March 9. Goldsmiths feel
the financial aspects of gold in a family unit
Indian buyers have ended up flexible to high
portfolio. Social changes and new resource
import obligation administration and are no
classes have on a very basic level strengthened
more sitting tight for a cut in obligations.
the part of gold as a key diversifier and as a
Diamond setters began restocking for the
long haul support against expansion. "Interest
wedding season after a fall in imports in
of this nature can't be reshaped by supply
February as the exchange was expecting a
checks and higher duties. While India can't
drop in import obligation from 10% to no less
expand its nearby supply through mining, it
than 4% in the Union Budget. The exchange
unquestionably can build supply through
now expects this repressed interest to be
reusing," said Somasundaram. "Presently just
unleashed as buyers no more expect a
0.5% of aggregate stocks are reused in India,
diminishment in the import obligation soon.
yet the late strategy declaration presenting a
In spite of the fact that figures are yet to be
standard India gold coin, securities and
declared, exchange appraisals gold imports of
another monetisation conspire rightly try to
40 ton in February, down from around 60 ton
address
in January. Strict import controls and high
connected to gold, which are likewise liable to
obligations cut down India's gold request by
effect reusing," he said.
fluctuated
purchaser
inclination
- By Mukul Gupta
An activist shareholder uses
"We believe the best way to ensure improved
acceptance of the many policy changes that
performance at PepsiCo is to separate global
the activists are seeking to effect. Post the
snacks and beverages, putting the future of
financial crisis of 2008, activist activity has
each business in the hands of empowered and
increased, and new money is beginning to
focused management". This was written in the
flow into activist funds mostly in search of
in
letter posted to the management of Pepsico by
returns which are uncorrelated with other
a corporation to put public
Trian Partners headed by the Activist Investor
asset classes. The Assets Under Management
pressure on its management.
Nelson Peltz. Investor activism, which started
(AUM) of this asset class are quickly growing
in 1980s - then called ‘Corporate Crusaders' -
and returns are consistently outperforming
has grown in importance with more and more
the average hedge fund. In 2013, according to
companies targeted every year, be it Bill
Schulte Roth & Zabel, public actions of
Ackman’s public failure at JC Penney, or Carl
activism were launched at a total 237
Icahn’s argument for a buyback at Apple, one
companies worldwide including giants like
of America’s most loved and successful
Apple, Hess and Proctor & Gamble.
an
equity
stake
Financial Goals (increase of shareholder value through changes in corporate policy, financing
structure,
cost
companies.
cutting, etc.)
Non
-
financial
(disinvestment
Goals
An activist shareholder uses equity stake in a
What Attracts Activist Shareholders? Not unexpectedly, fundamental
from
company to put pressure on its management.
underperformance
The trick is simple. Buy upto 5% stake in the
weakness that triggers an activist investor
company and get a seat at the Board. Once
campaign. Activists most often focus on
comfortable, make demands that would in all
underperformance relative to competitors,
belief increase shareholder value. In case the
rather than absolute declines in performance.
Board refuses, fight a proxy battle. If the
Other factors include poor revenue growth,
demands
other
lagging shareholder returns vis-a-vis the
shareholders, chances of winning are high
industry peers in the previous two years, and
post which a new 'friendly' Board would be
an increasing gap in margins relative to
appointed. In case the proxy fight is lost,
competitors. Recurring restructuring charges
nevermind. Liquidate and look for another
and large cash balances are also strong
target. This is the standard way an investor
indicators of looming activism. According to
activism exercise works.
McKinsey & Company however, company’s
particular countries, adoption of
environmentally
friendly policies, etc.).
seem
legitimate
to
is
the
most
likely
gap in consensus earnings and executive While much of investor activism is practiced
compensation are not significant indicators of
outside the public eye, there has been a
activist interest. In certain sectors, it has also
consistent increase in public actions, whereby
been observed that those companies where
activists' play a key role in changing either the
the breadth of the corporate portfolio has a
strategy or the governance of companies they
market value which is lower than the sum of
have invested in. This has resulted in growing
independent businesses are attractive targets.
Major Activist Trends in FY 2013 According to Schulte Roth & Zabel, the year 2013 saw an increase in activism activity with 237 companies being targeted worldwide as compared to 218 in 2012. Out of these, more than 70% of the total cases were observed in the United States, followed by 18% in Europe and
only
6%
in
Canada.
Sectors
like
Technology, Services and Basic Materials were the most preferred and comprised of around 75% of the total investor focus. Also, 2013 saw
points in the period of bullish growth.
twice the number of companies targeted with
According to Activist Insight’s Activist Index, which is made up of 30 activist funds, a return average of 21.7% was achieved over the first three quarters of 2013, which compared favourably to S&P 500 Index’s 17.9% and MSCI’s 16.3%. Therefore, there is plenty of
evidence to suggest that with investors closely watching the performance of activists, money will continue to increasingly flow into activist funds in FY 2014. Gregg Feinstein of Houlihan Lokey believes that activism has been grossly a market capitalisation of more than $10
undervalued by the
market in general.
billion than the previous year. A total of 42
According to him it has been proven to
such big size investments including UBS and
increase value for shareholders.
Celesio were made in 2013 compared to only 23 a year ago. This is leading to an increased perception that size no longer matters for
Defence Techniques to Counter Activism Accompanying the rise in activism has been a
activism.
burgeoning defence industry in the US which is experimentation with new bylaws designed
According to consultancy firm McKinsey &
to frustrate activists. Although bylaws vary
Company, three out of every four activism
widely from organization to organization,
campaigns start collaboratively, but half of
they generally cover topics such as how the
those eventually turn hostile. This suggests
Board is elected, how the meetings of
that management teams should focus not just
Directors
on whether to accept activist proposals but
organization will have and description of their
also on how they engage with an activist.
roles and responsibilities. However, it remains
On the performance side, activist hedge funds
to be seen how long lasting their impact will
enjoyed a strong year in 2013. They beat the
be. Some of these defence mechanisms include
MSCI World Index by over five percentage
the following:
are
conducted,
officers
the
13D Pills: In US, an investor is required to file either form 13D or 13G when an ownership
The Road Ahead In 2013, many big name activist funds
threshold of 5% shares in a publicly traded
including
corporation is reached. An activist investor
Clinton Group and ValueAct saw their stock
files a 13D whereas a passive investor who
picks work well for them. All saw their stock
does not intend to influence the management
choices increase by an average annualized
or wage a proxy contest is required to file 13G.
value of 75% or more. Analyst forecasts
However, many companies now include a
suggest strong growth in activism activity in
special clause with filing a 13D which
the US, but a continuing weakness in Japanese
prevents activist investors from increasing
and eurozone equity markets. Activists are
their
same
testing these markets with certain optimism
threshold is 20% for passive investors who file
and also because of the growing acceptance of
13G. This clause prevented Bill Ackman from
increase in shareholder value via this asset
taking a significant ownership position at Air
class. In case these regions enjoy an upswing
Product & Chemicals.
in growth, the activists will be the first to
holdings
beyond
10%.
The
Pershing
Square,
Third
Point,
enjoy the benefits. In India also, anecdotal Tax Pills: This is a slightly more obscure use
evidence suggests that activism by both
of poison pills. It takes advantage of tax
foreign and domestic investors is on the rise.
regulations and helps companies keep activist
However, so long as the Government has
ownership below the 5% threshold. These tax
large interests in companies and the legal
pills trigger increased burdens for investors at
system is slow and onerous, activism would
this level, rather than the traditional 10%. This
continue to remain hindered in India.
is because a change of ownership would mean tax-beneficial operating losses are abandoned.
The
fundamental
question
however
still
remains – do activist investors save companies In order to avoid an activist campaign,
by influencing incompetent management and
company executives should run a pre-emptive
increasing shareholder value or do they play
audit
company’s
corporate crusaders who intend to make short
performance and review their strategic and
to
evaluate
their
term gains by shaking things and finally
operating plans in that light.
exiting at attractive multiples. As a follow up to the discussion however, it certainly seems
An unbiased and rigorous pre-emptive audit
the trend is moving from the latter to the
that helps in identifying weak spots and
former. It also seems highly likely that this
evaluates all alternatives can help in keeping
year will prove to be ‘the end of the
activists at bay and bring forth many
beginning’ phase of an invigorated age of
opportunities for value creation.
investor activism.
- By Shreyans Dhariwal
A
fund,
usually
used
by
Hedge Funds are the alternative investments
neutralizing portfolio’s exposure to
consisting of pools of underlying assets that
market risk by undertaking short and
are
long positions.
used
for
hedging,
speculation
and
arbitrage. They use derivatives of high
Convertible Arbitrage
leverage in International as well as domestic
Exploitation
market to earn active returns or alpha for
convertible securities.
of
mis-pricings
wealthy
individuals
their investors. They are setup as private
and
which
is
investment limited partnerships and are
Identification
aggressive
mainly applicable for sophisticated investors
undervalued FI bonds.
institutions,
allowed
to
use
strategies hat are unavailable
like
to
funds,
significant assets and are not offered to general public.
mutual
including
selling
short,
leverage,
program
trading,
swaps,
arbitrage
and
derivatives.
institutions
or
individuals
with
compared
to
Mutual
of
overvalued
and
Distressed Securities They are applicable to companies tending towards bankruptcy.
Hedge funds are similar to mutual funds on
Takes advantage between the current
the grounds of possessing similar kind of
market price and price after merger of
Funds, they are relatively unregulated and
as
Fixed Income Arbitrage
Merger Arbitrage
pools of underlying assets. But unlike Mutual
They have low regulations
in
the security. Hedge Equity
can be invested on a wider scale of securities.
They are mainly used for assets under
They can be considered as mutual funds for
management. Global Macro
super rich.
funds
Trades in currencies, futures, options
Have
wider
range
of
Hedge Fund managers tries to invest on securities that have a higher rate of return and
securities for investment.
in line with global market Emerging Markets
that mitigates or hedges maximum amount of
Focuses on emerging and less mature
risk, but they have to also foresee the risk
markets.
motive to gain higher rate of
whether the security will be able to perform
Funds of Funds
return
as per expectation, failing to which may cause
Is a fund invested in number of
huge losses. Fees charged by managers is 1 to
underlying hedge funds.
Investment done with prime with
mitigation
of
maximum amount of risk.
Different
hedge
strategies are used.
fund
2% of the amount invested, plus 20% of the profit earned.
Once the Investment strategy is formulated by the Hedge fund manager, he generally
Some of the Hedge Fund strategies are—
tries to measure the risk to which the fund is exposed. Based on this, he decides which of
Equity Market Neutral Identification undervalued
of
the risks are acceptable and which needs to be overvalued
stocks,
in
and turn
hedged. On a later stage he uses derivatives to mitigate the unacceptable risks.
INDIAN MARKETS With the selling pressure intensifying during the closing stages, indices in the Indian equity markets went further down and closed the day deep in the red. Thus, the BSESensex ended lower by around 427 points (down 1.5%). Similarly,
NSE-
Nifty succumbed to all round selling and was quoting lower by 128 points at closing, or
1.55 %. S&P BSE Midcap and S&P BSE. Small cap indices were hurt relatively lesser but still closed 1.3% and 1.6% lower respectively. Prominent losers that dragged down the key indices were FMCG, banking and capital goods sector. Open
High
Low
Close
SENSEX
29134.93
29,183.76
28,448.48
28503.30
NIFTY
8,844.05
8,849.75
8,631.75
8647.75
BSE SENSEX
CNX NIFTY
COMMODITIES Commodity
Unit
Rs / Unit
% Change
Gold
10 grams
25890
0.91
Silver
1 kg
35533
0.59
Crude Oil
1 bbl
2866
-4.05
EXCHANGE RATES INR/ 1 USD
62.67
INR /1 EURO
66.42
INR/ 100 JAPAN YEN
51.60
INR / 1 POUND STERLING
93.16
INTERNATIONAL MARKETS Open
High
Low
Close
NYSE Comp
10,784.09
10,784.09
10,677.59
10751.02
NASDAQ
4,885.54
4,904.47
4,842.80
4871.76
S&P 500
2,064.56
2,064.56
2,041.17
2053.40
FTSE 100
6,761.07
6,777.77
6,713.50
6740.58
CAC
4,997.94
5,010.80
4,969.47
5010.46
DAX
11,845.90
11,903.33
11,744.93
11901.61
NIKKEI 225
19,119.58
19,335.80
19,042.25
19254.25
SSE 50
2,494.34
2,532.15
2,477.40
2495.28
Hang Seng
23,808.97
23,918.71
23,790.83
23823.21
Land Acquisition Bill passed in Lok Sabha; faces sterner test in Rajya Sabha The contentious bill was passed by the lower house of Indian Parliament on Tuesday. There were nine official amendments made to the original bill that was proposed by the ruling government( BJP). This was done in order in to win over allies such as Akali Dal and Shiv
Sena. The opposition which is led by the congress party staged a walk out when their proposed amendments were not accepted by the BJP. The bill has been labelled as “Anti Shiv
sena
abstained
from
Farmer” by the opposition. How the industry reacts to the nine amendments which have
voting while TRS and BJP
been made, remains to be seen.
staged a walkout. Government
The government agreed to include mandatory employment to at least one member from the
does not have a majority in
affected families of a “farm labourer”, which was one of the proposals by the opposition. The
Rajya
of
government rejected amendments to consent clause and social impact assessment. Rural
Industrialists
Development Minister, Birender Singh, dismissed allegations made by the opposition and
Sabha.
Analysts
and
Reaction
remains to be seen.
said that “ By bringing the bill, my party and our government want to make sure that the farmers get a chance to progress and be a part of the overall development of the country.”
Previously IMF had predicted a
IMF revises India’s growth forecast to 7.2% for current fiscal year
growth of 5.6% for the current
The International Monetary Fund labelled Indian Economy a “bright spot” on the
year.
international economic landscape. It asked India to take steps to revive the investment cycle and accelerate the structural reforms promised in order to achieve 7.2% growth. The new forecasts have been made on the basis of revised methodology adopted by India earlier in the year. The new method was termed as “Puzzling” by RBI governor, Raghuram Rajan, who has worked with IMF in the past. The IMF believes that the revival of Indian Economy has been helped by positive policy actions of the government and lower prices of oil in the global market. IMF also said that the country is well equipped to cope with volatility of international markets( External Shocks).
RBI Issues new norms for NPA sales In a move that would give boost to banks which are facing issue of rising NPA’s, the central bank has allowed such lenders to reverse the extra provision on sale of bad debts to their P&L account. This is valid only for transactions that took place before 26 February,2014. Most of the banks, including private players, have been dealing with non-performing assets and lower profits since they have to make space for bad loans. This move by the RBI would look to give incentives to the bank to recover fair value in respect to non-performing assets. The notification also said that “ The quantum of excess provision reversed to profit and loss
account will be limited to the extent to which cash received exceeds NBV of the NPA’s sold.
Government Expenditure on Aadhaar project is Rs 5630 crore The parliament was informed on Friday that the public expenditure on the UID project currently stands Rs 5630 crore. In total 78.65 crore Aadhar numbers have been generated till date under the scheme. The approved budget for the UID scheme for the period 2009-2017 is
Rs 13,633.22 crore. The UID project came into existence in January 2009. One of the main objectives of the project was to eliminate fake and duplicate ID’s. Planning minitser, Rao Inderjit Singh, also said that people can register their complain on the official website of UIADAI and there is also the facility of downloading E-Aadhar from the website. The planning minister also said that a bill ,introduced on December 2010, regarding providing legal status to UIDAI project is pending in Rajya Sabha.
Foreign Firms producing in India might get to sell online Foreign companies who decide to set up manufacturing facilities in India, would be given access to the fast growing online market in India. This initiative is a part of government’s plan to attract foreign capital in the manufacturing sector. The Department of Industrial Policy and Promotion, has floated a cabinet note to implement the policy announced by the government in it’s first full budget. The cabinet note that has been floated explicitly defines manufacturing in order to prevent any misuse of the policy. To ensure consistency and to avoid tax issues in future, government would use the same definition of manufacturing as given in the income tax law. Once this policy is implemented, manufacturers would be able to sell directly to the customers through the online platform. This will be provide a significant incentive to foreign players to invest in India. The policy is in line with government’s vision that a manufacturer should be able to sell his goods to the customer in whatever way he wants. This move will help players like FabIndia, which manufactures 70-80% of the merchandise it sells to the local
Indian local market but it is registered as a single brand retailer. Though 100% FDI is allowed in B2B E– Commerce, foreign direct investment is not allowed in companies selling directly to the consumers.
Ratan Tata picks up stake in Paytm Paytm revealed this week that Ratan Tata has invested an undisclosed amount in the mobile commerce company. The investment in the firm is in his personal capacity. Analysts have said that though Ratan Tata’s investment in companies like Paytm, Snapdeal and Urban Ladder is not substantial but it shows the perspective which the investors have towards the
growing E-commerce market of India.
Mr. Rajeev Chandrasekhar was also awarded an
1964
honorary
doctorate
Visveswaraya
degree
Technological
by
University,
Belgaum, Karnatka. Manipal Institute of Technology
Member of Parliament In April 2012, he was re-elected to the Rajya
Illinois Institute of Technology
Sabha for a second six year term as an Independent
Indian
Parliamentarian
representing
Karnataka. He has advocated for governance reforms,
institution
building,
Internet
freedom, national security, welfare of the 1994: Founded BPL Mobile
An engineering graduate, Mr. Chandrasekhar
Armed Forces Personnel and sustainable city
2005: Founded Jupiter Capital
is
of
building of Bangalore and Karnataka. He has
2007: President of FiICCI
Engineering, he has done his masters from
also served as the President of FICCI in 2007.
2013: Awarded the honorary
Illinois Institute of technology, United States.
He
doctorate by VTU.
He is currently the member of parliament
Governance reforms including a Conference
from Karnatka.
on Administrative Reforms and Ethics in
a
product
of
Manipal
College
initiated
a
series
of
seminars
on
Governance which brought the Government Entrepreneur He is first and foremost a Venture Capitalist,
and industry together.
being an engineering graduate, he pioneered
proposal to the UN for control of the internet
a startup in college called Softtech. He then
through a 50 member inter-governmental
developed his own venture capitalist reform
body.
He is an outspoken critic of the recent
called Jupiter Capital which has more than $600m of investments in diverse fields such as media, infrastructure and aviation. In terms
Personal Life He was born
of investment in the relative investment
to Indian Air Force Officer, Air Commodore
scenario in the current venture capitalism
M.
scenario, Jupiter Capital stands out and is one
Chandrasekhar. He is married to Anju
of the poles in the industry. His own venture
Cha ndra sekhar,
which he founded in 1991 is called BPL
Group patriarch TPG Nambiar. They have a
Mobile, which was valued at $1.1billion in
son, Ved, and a daughter Devika.
2005.
K.
in
Ahmedabad,
Chandrasekhar
and
daughter
Gujarat,
Mrs. of
Valli B PL
- By Mohana Krishna Kummara
According to StoreDot’s CEO and
founder
Dr
Doron
Myersdorf, the fully functioning prototype that fits inside the phone for commercialization will be ready the second half of 2016 and by early 2017, it will be on the market.
Every person using a smartphone should
phone to give a demo on their new battery
have experienced how their phone’s battery
technology, Samsung Galaxy S4. Galaxy S4’s
have troubled them. In fact the biggest
battery was charged on 30 seconds—an
bottleneck the technology wasn’t able to solve
exceedingly brief time in a world dominated
till today is smartphone’s battery. Israel-based
by chargers that can take hours to replenish
start-up Storedot is saying that they can battery life. change this. No, they did not create another battery which will last for a week or so.
It uses the technology called super capacitor
Strictly speaking they are not at all working to
technology, it charges faster than any other
increase the battery life. They are working on
traditional Li-Ion battery (LiB) battery. This
the other side of the problem i.e. the charging
combination of fast charging and high power
time. The battery life of these batteries is
has paved the way for the new-generation
similar to old batteries but the changing time
FlashBattery.
i.e. the time taken by the battery to charge fully in drastically reduced. It just takes 30
Despite the technology's seeming promise, it
seconds now.
won't
be
available
anytime
soon..
The
company hopes to start producing consumer At Microsoft’s Think Next Conference in Tel
ready chargers in late 2016.
Aviv, StoreDot unveiled its battery charging
It's not clear when the devices might actually
prototype. StoreDot used a very popular
hit store shelves.