Finding Value using Price-to-Operating Profit Ratio

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Fortnightly Market View: Recent Past Is Not Future

We are in for a period of sideways movement

 

Last fortnight, I had reiterated that...

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Modi says journey to Mars was cheaper than auto ride

A one-km auto rickshaw ride in Ahmedabad takes Rs10 and India reached Mars at less than Rs10 per km, which is really amazing

 

Indian Prime Minister Narendra Modi Sunday used the metaphor of cost of travel by auto in Ahmedabad to the expenditure incurred in the landmark Mars Orbiter Mission, which the country accomplished in the very first attempt.


“A one-km auto rickshaw ride in Ahmedabad takes Rs10 and India reached Mars at less than Rs10 per km, which is really amazing,” the Prime Minister said while talking about India’s talent pool and potential to become one of the top most countries in the world.
The Prime Minister said a cost of Rs7 was incurred per kilometre in covering the 650 million km distance to Mars by the unmanned spacecraft.


“Everything about Mangalyaan is indigenous. We reached Mars at a smaller budget than a Hollywood movie,” he said adding “India is the only country to reach Mars on its first attempt. If this is not talent, then what is?”


India had on 24th September created space history by successfully placing its low-cost Mars spacecraft in orbit around the Red Planet in its very first attempt, catapulting the country into an elite club of three nations.


At just $74 million, the mission costed less than the estimated $100 million budgeted.


India’s MOM is the cheapest inter-planetary mission, costing a tenth of NASA’s Mars mission Maven that entered the Martian orbit on 22nd September.


With the success of “Mangalyaan”, India became the first country to go to Mars in the very first try. European, American and Russian probes have managed to orbit or land on the planet, but after several attempts.


Modi had witnessed the operation along with the space scientists in ISRO headquarter in Bangalore.

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