OPINION, P10 WELL BEING Pardon me,judges open Pandora’s box FE LINES GIVE YOUR KNEES A LEG-UP The best travel camera is your smartphone How to prevent problems associated with one of the largest and most complex joints in the body Page 9 How to click wow pictures while on a vacation Page 6 ACROSS THE AISLE, P CHIDAMBARAM VOL XIX NO. 26 LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM CRIME FICTION AND FILMS FINANCIAL EXPRESS ON SUNDAY AHMEDABAD SUNDAY, DECEMBER 8, 2024, 18 Pages, `12 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 A N D I G A R H , C H E N N A I , Interviews with Prakash Jha, Avinash Singh Tomar & Zeishan Quadri Page 7 READ TO LEAD H Y D E R A B A D , K O C H I , K O L K A T A , ● Events like Hornbill, GROWING NUMBERS Sunburn, Lollapalooza raking in the moolah VAISHALI DAR New Delhi, December 7 ELECTRONIC DANCE MUSIC (EDM) festival Sunburn Goa, happening between December 28 and 30, is estimated to have an average spend of `50,000 pervisitorand generate approximately `250 crore for the region through hotel, F&B, transportandotherexpensesincurredby festival-goers. Similarly, Echoes of ■ SPOTLIGHT, P5 Tourism overkill With too many visitors, the impact of overtourism on the environment, local communities and infrastructure is becoming all too evident. Several tourist destinations are now warming up to curb the rising numbers ■ WORDS WORTH, P4 The power and tragedy of dissent Earth,popularlyknownasthegreen music festival in Bengaluru and Goa,started in 2016 with a footfall of 6,000.Lastyear,it recorded foot- HORNBILL FESTIVAL ECHOES OF EARTH (Dec 7-8) ■ Last year's footfall: 23,000 (Dec 1-10) ■ Footfall in first edition (2000): 13,268 ■ This year's footfall (in first five days): 86,000 ■ Attracts big sponsors including Toyota, Raymond Group, Gaana.com, Honda Motors, Casio ■ This year's expected footfall: 25,000 ■ Tickets priced at `3,999 for single day, `5,999 for two days fall of 23,000 and this year 25,000 people are expected to attend.Tickets are priced at `3,999 for a single day and `5,999 for two days. IT tops among sectoral indices post Trump win SINCE DONALD TRUMP’S Relative performance 106.37 Nifty IT extension for Reserve Bank of India (RBI) governor Shaktikanta Das intensifies, the governor met finance minister Nirmala Sitharaman at North Block on Saturdayfor about half an hour. Das later told FE that it was only a “courtesy meeting”, refusing to divulge any other details. Das has served as central bank governorforsixyears,havingalready surpassed the typical five-year tenure,a standard in recent decades. HistermcomestoanendonDecember 10. In case he gets an extension, an announcement is expected to be made byMonday. This will also make him the longest serving RBI governor since Benegal Rama Rau, who held the position for seven and a half years from1949to1957,whileBimalJalan Nifty 100.79 Nov 6, ‘24 Dec 6, ‘24 (% gain*) 7.99 7.39 2.47 6.49 Wipro LTIMnditree TCS Persistent Systems Coforge 5.46 *Between November 6 and December 6 SUNBURN GOA (Dec 28-30) ■ Average spend: `50,000 per visitor ■ To generate `250 crore for region through hotel, F&B, transport, etc LOLLAPALOOZA INDIA Lollapalooza India will happen in March 2025 with a line-up featuring global stars like Green Day and Shawn Mendes in Mumbai, with tickets priced in a range of `5,999 to `47,999. Continued on Page 2 ● Renames its new UNHEALTHY electric SUV BE 6; to PRECEDENT reminds pursue case in court ■ M&M says ■ M&M of will challenge IndiGo FE BUREAU Mumbai, December 7 FORTHESAKE of“championingeach RBI governor Shaktikanta Das (third from left) outside North Block in New Delhi on Saturday came close to the milestone bybeing governor between November 1997 and September2003. Multiple reports have said Das’s tenure is likely to be extended, at least for a year, as the Central government has no other candidate in sight for the post at this point. Das’s appointment as 25th governor came after the controversial exit of his predecessor, Urjit Patel, when the RBI and the government differed overissues like fiscal policy and banking regulations. Continued on Page 2 Suven Pharma to acquire 56% stake in US firm PRESS TRUST OF INDIA New Delhi, December 7 13.69 PSU bank 3.50 Media 5.17 Consumer durables Realty IT 6.37 6.22 Nifty vs Nifty IT Top IT gainers (% gain*) P U N E Extension in air, RBIguv M&M gives in,but pays FM ‘courtesy’visit notwithout a fight EVEN AS SPECULATION over an Top sectoral gainers in past month D E L H I , INDIGO-MAHINDRA SPAT OVER 6E CURRENT TENURE ENDS DECEMBER 10 PRIYANSH VERMA & SACHIN KUMAR New Delhi, December 7 108 106 104 102 100 98 96 94 N E W (March 8-9, 2025) ■ Tickets priced at `5,999-`47,999 ■ Presale, general admission tickets sold out six months before festival date ■ Last year's footfall: 60,000 ● Das has already served 6 years, and may get one more Russian opposition leader Alexei Navalny’s memoir is a searing account of resilient autocracies Base: Nov 6, 2024 = 100 M U M B A I , If concerts are big, music festivals are no less WHAT'S INSIDE victory in the US presidential election, the Nifty ITIndex has gained 6.37% over the past month, outperforming the benchmark Nifty,which saw a modest rise of0.79%. It has emerged as the top sectoral gainer between November 6 and December 6.The rise in IT shares has been fuelled by optimism thatTrump’s policies could drive higher IT spending by US companies. Notably, duringTrump’s first term as president (2017–2021), the Nifty IT Index delivered a remarkable return of147%, significantly outpacing the broader Nifty 50, which gained 60% over the same period. Compiled by Kishor Kadam L U C K N O W , SUVEN PHARMACEUTICALS ON Saturday said it will acquire a controlling stake in US-based NJ Bio for $64.4 million. The company will buya56%stakeinPrinceton-based NJ Bio,Suven Pharmaceuticals said in a statement.“This transaction is in line with our vision of being a technology-led CDMO, offering end-to-end solutions in emerging modalities likeADCs,”Suven executive chairman Vivek Sharma said. NJ Bio’s capabilities and established customer relationships will accelerate Suven’s journey as a global leader in this fast-growing ANI Pre-Budget demands PROVIDING SUPPORTTO boost exports, exemption from capital gains tax, and subsiding tech adoption are some demands MSMEs put forth, while farmer bodies and agriculture experts suggested hiking MSP outlay, more funds crop insurance schemes in a meeting with the FM, reports Priyansh Verma. ■ PAGE 3 other’s growth and expansion instead of engaging in a conflict”, Mahindra & Mahindra (M&M) on Saturdaysaidithasdecidedtochange the name of its upcoming launch to BE 6 afterInterGlobeAviation filed a suit against the automaker for using the‘6E’branding,atrademarkowned bycarrierIndiGo. InterGlobe moved the Delhi High Court on Tuesday alleging trademark infringement by M&M, as its airline IndiGo uses 6E as its call sign and considers it a key part of its branding and services. Though M&M said it will continue to strongly contest the case in courtoveritsrighttothebrandname BE 6e, for now it has rebranded the model to ‘BE 6’. The fully electric compact sports utility vehicle BE 6e was unveiled recently by M&M and itsettocommerciallyhitthemarket in the next two months. “We find it unseemly that two IndiGo’s claim to keep ‘unhealthy precedent’ at bay previous conduct, citing example ofTata Motors’ Indigo sedan ■ Tata Motors had objected but InterGlobe continues to use IndiGo in different industry & business ■ Case now scheduled to be heard on Dec 9 large Indian multinationals should engageinadistractingandunnecessary conflict when in fact we should bechampioningeachother’sgrowth and expansion.We are hence taking thedecisiontobrandourproductthe ‘BE 6’,”M&M said in a statement. Continued on Page 2 ● SOUTH KOREA IN TURMOILAS PREZ IMPEACHMENT FAILS Protesters out on the streets in South Korea after President Yoon Suk Yeol survived a vote to oust him. The motion was scrapped without ballot counting, but the party leader later said Yoon will resign Transaction expected to close before end of December ADC/XDC segment, which is emerging as a very important modality and has improved the lives of well over 1,00,000 patients already,he added. NJ Bio founder and CEO Naresh Jain said the company has created enormous value for clients by solving complex ADC challenges over the last fewyears.The transaction is expected to close before the end of December this year. REUTERS ■ Report on P18 Creta beats all midsize sedans put together in sales this year ● Sells almost 3x Virtus, Verna, Slavia, City, Ciaz combined VIKRAM CHAUDHARY New Delhi, December 7 INDIAN CAR BUYERS’ love for SUVs can be gauged from the fact that one midsize SUV has beaten all midsize sedans put together in sales this year. Hyundai’s new Creta, launched on January 16, has sold 174,311 units from January-November this year—almostthreetimesmorethan the sales of all midsize sedans put together (66,491 units). The top-selling midsize sedan thisyearhasbeenVolkswagenVirtus (which sold 18,953 units), followed by Hyundai Verna (16,241 units), Skoda Slavia (13,723 units), Honda City (10,743), and Maruti Suzuki Ciaz (which has had a disappointing sale run of just 6,831 units thisyear, despite the carmaker having more than 3,500 dealerships). The new Creta, on the other hand, sold almost 16,000 units everymonth,and 522 units perday. And,it’snottheentry-level`11lakh variant that is driving sales,but the top-end ones. Tarun Garg, wholetime director&chiefoperating offi- HOW THE NUMBERS STACK UP Unit sales (Jan-Nov 2024) 1,74,311 Midsize sedans (total): 66,491 Hyundai Creta 18,953 13,723 Volkswagen Virtus cer, Hyundai Motor India, told FE that the SX(O)variant—priced from `17.27 lakh to `20.3 lakh—has contributed to over 30% Creta 16,241 Hyundai Verna Skoda Slavia sales.“In the Creta, 70% sales are coming fromvariantswith sunroof, and almost40%fromvariantswith ADAS (advanced driver-assistance 10,743 6,831 Honda City Maruti Ciaz systems),” he said.“For Indian customers, aspirations are taking precedence over functionality.” In addition, while there is no comparison between Creta (priced from`11-20lakh)andsmallhatchbacks priced `4-6 lakh,thisyearthe former has sold more units than Maruti Suzuki’s Alto and S-Presso, and Renault’s Kwid put together (132,761 units).Among these three hatchbacks, Alto has been leading (98,512 units),followed byS-Presso (26,172 units), while Kwid—once touted to be a challenger to Maruti Suzuki’s dominance, and launched by Carlos Ghosn in 2015—has sold just 8,077 units and wasn’t able to cross the 1,000-sale mark even in a single month this year. It’s not just Creta, but Mahindra’s Scorpio has also eaten into midsize sedan sales.From January- November, this SUV—whose topend variants touch `25 lakh—has sold 154,169 units. “Creta and Scorpio have demolished the entire midsize sedan segment,” an industry veteran told FE. “Top-end variants of compact sedans such as Tata’s Punch and Nexon, and Maruti Suzuki’s Brezza have also hit midsize sedan sales. Punch has sold 186,958 unitsyearto-date, and will go down in automotive history as the first nonMaruti Suzuki car to lead calendar year sales. It’s followed by Brezza (170,824 units) and Nexon (148,075 units).” Continued on Page 2 Ahmedabad