Hi, Raghvesh, I don't think there is a provision like that. Some argue that even LIC's holdings in companies that haven't changed in several quarters shouldn't be part of free float. So it's tricky.

Seetharaman G

Chitresh, even the number of funds has risen from 112 to 146 over the past year, as the chart indicates.

Seetharaman G

Thanks for your feedback, Shivakumar. We are not referring to index providers' malafide intent. Instead, we are talking of the implications of their criteria for inflows/outflows and stock prices. It matters a great deal which companies make it to some of these marquee benchmarks. Even though the rules of these indices are clear and publicly available, they are not perfect.

Seetharaman G

Srinivasan, as we pointed out in the story, even looking at free float market cap can be tricky, as in the case of Adani stocks. But having said that, there are indices that have stood the test of time and have mostly been free of some of these problems.

Seetharaman G

Thanks, Deepesh. What you're suggesting could work given that some indices, especially those of NSE and S&P-BSE, are way more popular among funds than others.

Seetharaman G

As I mentioned earlier, I don't think they can create one app with a brand for which they are franchisees and brands that they own. Domino's won't allow that.

Seetharaman G

Sankeerth, I doubt that has had any impact. While it may have been a way to build interest in the brand, what matters more in the long run is how much value Domino's offers for your money, which is why there has been no price increase in a while.And as long as delivery continues to be in that 30-40 minute, I don't see why customers need an added incentive. Having said that, are you sure it's been discontinued? The Domino's website still mentions it: https://www.dominos.co.in/hot-pizza-30-minutes-delivery-guarantee-at-dominos-get-pizza-hot

Seetharaman G

I don't think Jubilant can do that, Gururaj. Domino's is a global chain while the other two are Jubilant's in-house brands. Similarly, a Domino's rider can't deliver these brands.

Seetharaman G

Siddharth, I couldn't find a convincing answer for the surge in Domino's downloads in the initial months of the lockdown. I expected a massive increase for delivery apps across the board. But as far as Zomato and Swiggy doing much better later on, I think it can be chalked up to these apps doubling down on promotions.

Seetharaman G

Akshat, solar power is cheap, but you have to remember they are getting cheaper by the quarter. So by the time discoms decide to buy power from a particular project, there is another project which has an even lower tariff, so they benchmark the former against the latter and hold out.

Seetharaman G

1. Anirudha, as I mentioned in my response to an earlier comment, while there are competing brands now after Tata Digital's acquisitions/investments, the in-house brands – such as StarQuik – are weaker, so I don't see a major problem 2. Grocery is the most high-frequency category of them all currently, and Tata could also take on the likes of Paytm and PhonePe in bill payments and such, but there is little money to be made there 3. It's not clear how the financial services piece will play out. As we wrote in our October 2020 story, there is already an array of financial services the group offers – insurance, mutual funds, personal loans – that lend themselves to be sold through the app

Seetharaman G

Thanks for the feedback, Kannan. Will keep this in mind.

Seetharaman G