CE Info Systems - Map-Led Business Recovering, H2 Appears Better Than H1; Maintain BUY

CE Info Systems (MapMyIndia) revenue grew by ~15.8% y/y in Q2FY27 to ~Rs1.3bn (in line with our estimate and ~4% lower than street estimates. Map-led business grew by 22.3% y/y to ~Rs767mn (~58.2% of revenue) with ~41.6% margin (vs. ~35.4% in Q2FY26). IoT-led business grew ~7.83% y/y to ~Rs551m (~41.8% of revenue) with ~23.8% margin (vs. ~11.5% in Q2FY26). EBITDA grew 60% y/y to ~Rs450mn with EBITDA margin expanding by ~943 bps y/y to ~34.1% vs. ~24.7% in Q2FY26 (broadly in line with street estimates), due to higher contribution from Automotive and Enterprise. The management expects better H2, due to low YoY base and strong order execution, keeping the margin guidance at >35% for FY27e (vs. ~37.2% margin in H1). Broadly, maintaining our estimates, we reiterate BUY rating on the stock with an unrevised TP of Rs1,500, valuing it at 40x FY28e earnings.

Segmental Performance: Automotive segment grew ~52% to ~Rs 13m (~54.1% of revenue), driven by momentum across both Map-led and IoT-led mobility solutions. Enterprise segment grew ~44.1% to ~Rs330mn (~25% of revenue), supported by multiple wins and go-lives across sub-verticals. Government segment declined by ~37.5% to ~Rs275mn (~20.9% of revenue) due to one-off revenue win last year. Cash & Equivalent stood at ~Rs7.3mn as of Q2FY27 vs. (Rs7.45bn in Q1FY27 and Rs6.85bn in FY26). FCF stood at ~Rs497.8mn in H1FY27 vs. Rs277.1mn in H1FY26.

IoT Biz Growing Strong with Margin Expansion: In FY26, IoT business grew by ~34.7% y/y to ~Rs1.59bn, led by ~66% y/y growth in SaaS revenue, whereas hardware sales fell by ~2% y/y with margin improving to ~16% in FY26 from 14.3% in FY25. In H1FY27, IoT business grew by ~29.1% y/y, led by ~2.7x y/y growth in hardware business, primarily reflecting capex-based sale as part of a line-fit programme with a new OEM entrant. SaaS revenue declined by ~26% y/y due to transition of a large government IoT project, which had generated upfront technical services revenue to a recurring subscription model. EBITDA margin also improved to ~19.2% from 10.6% in H1FY26, due to better margin solutions across hardware and SaaS.

Strong Order Book Provides Revenue Visibility: The company ended FY26 with a record open order book of ~Rs17.5bn (up ~17% y/y), and a healthy order pipeline. The primary challenge now is execution and revenue conversion rather than generating new business. The mix of fixed-price contracts (~64.9% of total order book) continues to rise, improving revenue visibility and reducing dependence on customer production volume, which should result in more earnings predictability over the long-term.

Outlook and Valuation: As strong open order book provides revenue visibility for forward years, we expect the company’s revenue to clock ~21.1% CAGR over FY26-28e, with ~23.5/22% CAGR in EBITDA/PAT over the same period. We maintain BUY rating on the stock with an unrevised TP of Rs1,500, valuing it at 40x FY28e earnings.

Key Risks: (a) Pricing pressure from large global mappers; (b) non-renewal of OEM contracts; and (c) slower execution.

Gold's Rally Takes A Pause, But The Long-Term Story Remains Strong: Motilal Oswal Financial Services Precious Metals Report

* Maintains Positive Outlook on Precious Metals; Sees Gold at 4,500–4,700 in the Medium Term

Gold and silver markets have witnessed significant volatility in 2026 following an exceptional rally in the previous year, with global macroeconomic developments, shifting US monetary policy expectations and geopolitical uncertainties influencing price movements. According to the latest Precious Metals Quarterly report by Motilal Oswal Financial Services Ltd. (MOFSL), the long-term outlook for precious metals remains constructive despite near-term headwinds, with price corrections offering potential accumulation opportunities.

Titled 'Gold's Rally: Deferred, Not Derailed', the report highlights the contrasting price movements witnessed in precious metals during the year. Gold surged to a record level of nearly $5,600 per ounce in January 2026 before correcting below $4,000 and subsequently recovering. Silver, meanwhile, rallied beyond $100 per ounce before witnessing an even sharper correction. These movements were also reflected in domestic markets, with fluctuations in the USD/INR exchange rate adding to price volatility.

Unlike the largely one-directional rally witnessed in 2025, precious metals have experienced sharper swings in 2026, driven by changing expectations around US interest rates, persistent inflation, elevated bond yields and geopolitical developments.

Diwali and Dhanteras remain among India's most important occasions for precious-metal purchases, supported by traditional buying patterns, the wedding season and the cultural significance of gold and silver. However, historical trends indicate that festive demand has a stronger correlation with domestic premiums, imports and physical buying volumes than with international price movements.

Over the longer term, domestic Diwali gold prices have increased from approximately ₹30,000 in 2016 to nearly ₹1.50 lakh in 2026, reflecting the significant appreciation in gold prices over the past decade. Historical performance also indicates that gold has generally delivered stronger returns during the 30 days preceding Diwali compared with the subsequent 30 days. This trend was particularly pronounced in 2025, when gold gained nearly 20% and silver approximately 38% in the month leading up to the festival.

Despite elevated prices, investment demand has remained relatively resilient. Global gold ETF holdings increased by approximately 187 tonnes during August and September 2026, taking total holdings to a record 4,256 tonnes, while third-quarter inflows reached a record US31billion.InIndia,goldETFinflowsincreased71%month-on-monthto₹44.5billioninSeptember2026,whilesilverETFsattractedinflowsof₹19.7billion.Meanwhile,IndiangoldimportsmoderatedtoUS1.8 billion in September from US$2.3 billion in August, reflecting the impact of higher prices and measures to restrain bullion inflows.

Commenting on the factors influencing precious metals, Navneet Damani, Head of Research – Commodities, Motilal Oswal Financial Services Ltd., said:

"Gold continues to retain its importance as a defensive asset amid global economic and geopolitical uncertainties. However, its near-term trajectory will remain sensitive to the US Federal Reserve's monetary policy, inflation trends, movements in the US dollar and real bond yields. The 25-basis-point rate hike by the US Federal Reserve in September, taking the policy rate to 3.75%–4.00%, has reinforced concerns around tighter monetary conditions. At the same time, central-bank diversification, sustained investment demand and fiscal uncertainties continue to provide structural support to gold. In India, elevated prices have moderated discretionary jewellery demand, although wedding-related purchases and investment demand have remained relatively resilient."

Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd., added:

“Gold and silver are navigating a more complex market environment in 2026, with the interplay between safe-haven demand and macroeconomic headwinds driving heightened volatility. While elevated US Treasury yields and a stronger dollar have weighed on prices, underlying investment demand remains encouraging. Global gold ETF holdings have risen to record levels, with significant inflows during the third quarter, indicating that investor interest in gold remains resilient despite recent price corrections. Silver, on the other hand, offers greater upside potential but is accompanied by significantly higher price volatility."

Looking ahead, the direction of US real yields is expected to remain a key determinant of gold prices. While elevated yields and a stronger dollar could trigger near-term profit-taking and volatility, persistent inflation, fiscal concerns, geopolitical uncertainty and central-bank diversification could provide support to precious metals over the medium to long term.

Commenting on the outlook, Navneet Damani, Head of Research – Commodities and Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd jointly said:

"While near-term volatility cannot be ruled out, we believe the long-term investment case for precious metals remains intact. The next turning point for gold could emerge when real yields stop rising, particularly if persistent inflation, fiscal concerns or slowing economic growth begin to alter the monetary policy outlook. We continue to maintain a buy-on-dips approach towards gold, with an accumulation zone of 3,800–3,900 per ounce, a short-term target of $4,200 and a medium-term target of 4,500–4,700. In the domestic market, assuming USD/INR at 96, we see ₹1,35,000 as a favourable accumulation zone, with a short-term target of ₹1,48,000 and a medium-term target of ₹1,60,000–₹1,68,000. Silver offers greater upside leverage, but investors should remain mindful of its significantly higher volatility. Overall, rather than chasing price momentum, we believe investors should focus on disciplined accumulation during corrections, keeping in mind the role of precious metals in wealth preservation and portfolio diversification."

Against this backdrop, gold continues to maintain its appeal as a relatively defensive asset, while silver offers greater upside potential but carries a higher degree of volatility. As global macroeconomic conditions, monetary policy expectations and geopolitical developments continue to shape the precious metals market, investors may consider a disciplined accumulation strategy during price corrections rather than chasing short-term momentum.

About Motilal Oswal Financial Services Ltd.

Motilal Oswal Financial Services Limited (MOFSL) is the largest integrated capital market player in India, with strong and rising rankings across its businesses, each of which still offers a long growth runway. Rising wealth, to over USD 100 Tn, and the financialisation of savings are powerful tailwinds, and MOFSL is widening its presence by entering promising adjacencies in each of its businesses.

Aditya Birla Capital Q2 FY27 Results : Strong Earnings Growth With Robust Asset Quality

Q2 FY27 RESULTS

Strong Earnings Growth with Robust Asset Quality

Consolidated Profit after Tax: 1,288 crore (↑ 38% y-o-y)

Consolidated Revenue1: 16,545 crore (↑ 31% y-o-y)

Total lending AUM: 2,33,930 crore (↑ 32% y-o-y, ↑ 7% q-o-q)

Mutual fund quarterly average AUM: 4,41,787 crore (↑ 4% y-o-y)

Life insurance individual first year premium: 2,342 crore in H1 FY27 (↑ 25% y-o-y)

Health insurance gross written premium: 4,543 crore in H1 FY27 (↑ 48% y-o-y)

Aditya Birla Capital Limited (“The Company”) announced its financial results for the quarter and half year ended September 30, 2026.

The consolidated revenue1 grew by 31% year-on-year to ₹ 16,545 crore in Q2 FY27. The consolidated profit after tax grew by 38% year-on-year to ₹ 1,288 crore in Q2 FY27. The overall lending AUM (NBFC and HFC) grew by 32% year-on-year and 7% sequentially to ₹ 2,33,930 crore as on September 30, 2026. The total AUM (AMC, life insurance and health insurance) increased 2.2 times year-on-year to ₹ 12,33,619 crore as on September 30, 2026. The life insurance individual first year premium grew by 25% year-on-year to ₹ 2,342 crore in H1 FY27 and health insurance gross written premium grew by 48% year-on-year to ₹ 4,543 crore in H1 FY27.

Key Business Highlights:

NBFC Business – Q2 FY27

Disbursements grew by 12% year-on-year and 17% sequentially to ₹ 24,708 crore

AUM grew by 26% year-on-year and 5% sequentially to ₹ 1,76,557 crore

Profit before tax grew by 41% year-on-year and 11% sequentially to ₹ 1,352 crore

Return on assets increased by 25 bps year-on-year and 6 bps sequentially to 2.45%

Gross stage 2 and 3 ratio improved by 72 bps year-on-year and 12 bps sequentially to 2.31%

Housing Finance – Q2 FY27

Disbursements grew by 55% year-on-year and 19% sequentially to ₹ 8,957 crore

AUM grew by 50% year-on-year and 11% sequentially to ₹ 57,373 crore

Profit before tax grew by 73% year-on-year and 12% sequentially to ₹ 335 crore

Return on assets stood at 2.12%

Gross stage 2 and 3 ratio improved by 45 bps year-on-year and 13 bps sequentially to 0.65%

AMC Business – Q2 FY27

Mutual fund quarterly average assets under management grew by 4% year-on year to

4,41,787 crore

Equity QAAUM grew by 9% year-on-year to ₹ 2,09,230 crore

Individual monthly average assets under management grew by 5% year-on-year to 2,17,740 crore

Profit after tax stood at ₹ 221 crore

Life Insurance Business – H1 FY27

Individual First Year Premium (FYP) grew by 25% year-on-year to ₹ 2,342 crore

Group new business premium increased by 90% year-on-year to ₹ 4,232 crore

Renewal premium grew by 20% year-on-year to ₹ 5,578 crore

Net value of new business (VNB) margin increased by 447 bps year-on-year to 16.1%

Absolute net VNB grew by 78% year-on-year to ₹ 424 crore

Health Insurance Business – H1 FY27

Gross written premium grew by 48% year-on-year to 4,543 crore

Standalone health insurer market share increased by 70 bps year-on-year to 14.2%

Combined ratio stood at 107%

The Company continues to strengthen its digital platforms to enable seamless customer onboarding and service delivery. The Company’s D2C platform, ABCD offers a comprehensive portfolio of more than 26 products and services such as payments, loans, insurance, and investments. The platform has witnessed a strong response with about 1.3 crore customer acquisitions as of September 30, 2026.

The comprehensive B2B platform for the MSME ecosystem, Udyog Plus, offers seamless, paperless digital journey for business loans, supply chain financing and a host of other value-added services. It has scaled up significantly with over 24 lakh registrations and reached an AUM of ₹ 7,262 crore as of September 30, 2026.

The Company also continues to expand its physical footprint with a pan-India presence of 1,822 branches across all businesses as of September 30, 2026. The branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments.

About Aditya Birla Capital Limited

Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by about 67,300 employees, the businesses of ABCL have a nationwide reach with 1,822 branches and more than 200,000 agents/channel partners along with several bank partners.

Aditya Birla Capital Limited is a part of the US$ 72 billion global conglomerate Aditya Birla Group, which is in the league of Fortune 500 and has a consolidated market cap of over US $118 billion. Anchored by an extraordinary force of over 227,500 employees, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors - from metals to cement, fashion to financial services and textiles to trading. Today, over 42% of the Group revenues flow from overseas operations that span 41 countries across six continents with over 600 state-of-the-art manufacturing units. For more information, visit www.adityabirlacapital.com

Disclaimer: Certain statements in this “Media Release” may not be based on historical information or facts and may be “forward looking statements” within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This “Press Release” does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company’s shares. The financial figures in this “Press Release” have been rounded off to the nearest Rs. one Crore. The financial results are consolidated financials unless otherwise specified. 

95% Of Indian Employees Say Breaks Improve Productivity, Yet Fewer Are Taking Them: Compass Group India Study

As organisations focus on productivity, performance and employee experience, new research from Compass Group India suggests one of the most effective enablers of workplace performance may be increasingly overlooked: the workday break.

According to Compass Group India's latest Global Eating at Work (GEAW) study, 95% of Indian employees report feeling more productive after taking a break, yet 63% believe breaks remain undervalued within their organisation. The findings point to a growing disconnect between what employees know supports performance and what workplace cultures actively enable.

The study indicates that while awareness around wellbeing is increasing, opportunities to pause, recharge and disconnect during the workday are becoming less common. Employees taking regular breaks three to five times a week have declined from 46% in 2023 to 38% in 2025, while nearly a quarter of employees admit they rarely take a meaningful break during the day.

Productivity Is No Longer Just About Hours Worked

The findings come at a time when organisations across India are reassessing productivity, workforce engagement and employee wellbeing. While technology and flexible work models continue to reshape how work gets done, employees increasingly view breaks, nutrition, movement and social connection as critical contributors to performance.

Compass Group India's research found that 76% of employees prefer multiple shorter breaks over a single long break, reflecting the rise of more dynamic, fast-paced working patterns. However, 45% say they only take breaks when circumstances allow, suggesting that workload pressures continue to influence everyday wellbeing behaviours.

The research also highlights an important public health and workplace risk. Nearly one in four employees continues to eat lunch at their desk, while longer breaks are becoming increasingly rare. The trend raises broader questions about employee recovery, workplace stress and burnout prevention in modern organisations.

Indian Employees Are Looking Beyond Pay to Everyday Wellbeing

The study suggests employee expectations are evolving beyond traditional compensation and benefits. Today's workforce increasingly expects employers to support healthier lifestyles through workplace design, dining experiences, movement opportunities and social spaces.

More than 90% of employees say they are actively changing what they eat and drink to improve their long-term health, while 90% want healthier food choices available in the workplace. Nutrition, physical activity and quality sleep emerged as the three most important drivers of long-term wellbeing among Indian employees.

At the same time, India remains one of the world's most sleep-deprived populations, with 39% of employees reporting fewer than six hours of sleep per night, underscoring the growing importance of workplace strategies that support holistic wellbeing.

Food Is Emerging as a Strategic Lever for Employee Experience

The research highlights the growing role of workplace dining in fostering connection, collaboration and wellbeing.

India now significantly outperforms global averages in workplace dining infrastructure, with 51% of employees having access to on-site dining facilities compared with a global average of 29%. In addition, 93% of Indian employees report sharing meals with colleagues at least a few times each month, reinforcing the continued importance of food in building culture and workplace relationships.

Employees are also seeking more personalised and experiential dining environments. Nearly 87% want workplace restaurants to reflect the experience and ambience of modern high-street dining destinations, while growing demand for regional cuisines, healthy snacking and digital ordering solutions is transforming expectations of workplace food services.

Rahul Shinde, Managing Director, Compass Group India, said: "The future of workplace performance is closely linked to everyday employee experiences. Our research shows that people clearly understand the value of taking breaks, eating well and having opportunities to connect during the workday, yet many struggle to prioritise them amid growing workloads. For employers, this is no longer simply a wellbeing conversation. It is increasingly a productivity, engagement and talent-retention imperative. Organisations that design workplaces around human performance, not just operational efficiency, will be better positioned to build resilient and high-performing teams."

Manika Awasthi, Chief People and Safety Officer, Compass Group India, added: "Employee experience is shaped by the small choices people make every day. Whether employees feel comfortable taking a break, stepping away for lunch, moving during the day or connecting with colleagues has a direct impact on engagement and wellbeing. "The organisations that will lead the future of work are those that make healthy behaviours a natural part of how work gets done, creating workplaces where people can thrive and perform at their best.”

As India navigates changing workforce expectations, hybrid work patterns and increasing focus on employee wellbeing, the findings suggest that productivity and wellbeing are becoming increasingly interconnected. For employers, supporting healthier habits through workplace culture, food, spaces and experiences may represent one of the most accessible opportunities to improve workforce performance, engagement and long-term organisational resilience.

Additional media headlines that journalists could independently lift:

95% of Indian employees say breaks improve productivity, but 63% say workplace cultures still undervalue them.

One in five Indian employees spends less than 15 minutes on their main workday break.

90% of Indian employees want healthier workplace food options.

39% of Indian employees sleep less than six hours a night.

India's workforce is shifting towards healthier snacks, regional cuisines and micro-breaks.

Workplace dining emerging as a strategic employee experience differentiator in India.

Amara Raja Energy & Mobility - Soft Show; Upgrade To BUY On BESS Prospects And Attractive Valuation

Amara Raja Energy & Mobility reported a soft operating performance in Q2FY27. Missing our estimate, the company’s standalone EBITDA declined 5% y/y to Rs3.86bn, mainly due to lower-than-expected revenue and higher other expenses (spending on Amaron Assist/Factory of Future initiatives; 100bps). As the outlook for automotive and industrial demand continues to remain bright in lead acid batteries, we believe the company will gain market share further, going forward. Despite near-term challenges in the form of higher alloys, Sulphur and plastic input cost, the company’s margin is expected to expand in the medium-term led by new tubular batteries, recycling plant and cost pass-throughs. It also plans to set up a lithium-ion cell manufacturing plant (NMC 2GWh), which is expected to commence operations from H1FY28e. Further, 10GWh BESS solutions plant will commercialize operation from FY27 end and visibility of 50% utilisation (out of 5GWh) within 6-7 months of plant commercial production. We expect revenue potential of up to Rs45bn by FY30e (SOP from Q4FY27). BESS can be notable opportunity considering boom in renewables and strategic lever for cell capacity. Introducing our estimate for FY29e, we expect a revenue/EBITDA/PAT growth of 9/11/12%. At CMP, the stock seems to be reasonably valued at 13/12x on FY28/29e, close to -1std. Hence, we upgrade our rating to BUY with lower TP of Rs990 (from Rs1,080 earlier), valuing the parent entity at 11x Sep-28e EPS (vs. 12x Mar-28e EPS previously), ARACT NPV (new lithium energy unit) at Rs222 and BESS at Rs155.

In-line Performance: Revenue grew by 13% y/y to Rs38.4bn vs. our estimate of Rs41.8bn. EBITDA fell 5% YoY to Rs3.86bn vs. our estimate of Rs4.87bn, mainly due to lower-than-expected revenue and higher other expenses. EBITDA margin contracted by 190bps YoY to 10.1% vs. our estimate of 11.6%. Other expenses grew 10% YoY and 2% QoQ to Rs5.31bn. Accordingly, APAT grew 4% YoY to Rs1.88bn vs. our estimate of Rs2.66bn, mainly due to lower operating profit. New energy revenue grew 37% YoY to Rs2.3bn. It incurred Rs416mn EBIT loss in Q2FY27 vs. Rs487mn EBIT loss in Q2FY26. Its board has approved an LFP prismatic cell gigafactory (~5GWh) plus pack assembly with ~Rs23.2bn capex and to be completed within 30 months. It will serve stationary applications first, then mobility.

Outlook and Valuation: We trim our EPS estimate by 8-13% for FY27/28e, due to higher input/interest cost and lower other income. We upgrade our rating on the stock to BUY with lower TP of Rs990 (from Rs1,080 earlier), valuing the parent entity at 11x Sep-28e EPS (vs. 12x Mar-28e previously), ARACT NPV at Rs222 (from Rs210 earlier) and BESS at Rs155 (vs. Rs146 earlier). Increase in TP for ARACT and BESS is attributable to rolling over our valuation to Sep-28. Expecting ARACT’s revenue/PAT at Rs43.2/2.16bn by FY31e, we assign 25x multiple on discounted PAT. Further, we expect BESS revenue/PAT at Rs44.8/1.34bn by FY30e, we assign 25x valuation multiple on discounted PAT.

Key Risks: (a) Weaker growth in lead batteries; (b) lower orders for lithium-ion cell/BESS plant; and (c) adverse commodity prices.

StudyMEDIC Launches Integrated Medical Education Ecosystem In Bengaluru

StudyMEDIC, a global medical education and MedEdTech organisation headquartered in Doha, Qatar, launched its integrated undergraduate medical education ecosystem at the StudyMEDIC Global Medical Career Summit 2026, held at Blue Atria, Bengaluru.

The event was graced by Dr. Sharanaprakash Rudrappa Patil, Hon’ble Minister for Medical Education, Skill Development, Entrepreneurship and Livelihood Department, Government of Karnataka, as the Chief Guest.

The launch introduces four key initiatives – StudyMBBS, StudyNEET PG, StudyFMGE and Global Medical Career Pathways – aimed at supporting medical students and doctors throughout their academic and professional journeys.

Founded in Kerala in 2016, StudyMEDIC has grown into an international medical education platform, having trained over 250,000 healthcare professionals and helped more than 100,000 candidates clear medical examinations. The organisation offers 23 medical education streams, supported by a global network of over 200 mentors and course directors.

The flagship initiative, StudyMBBS, is a comprehensive learning platform covering all four professional years of MBBS under one subscription. Aligned with the National Medical Commission's Competency-Based Medical Education (CBME) curriculum, it features over 2,500 topics, 77,000 learning assets, 50,000 MCQs, 12,000 university-pattern answer guides and 5,500 previous-year questions.

The platform follows a four-stage learning approach – Read, Recall, Apply and Master – designed to strengthen conceptual understanding, university examination preparation and clinical knowledge.

StudyNEET PG will support postgraduate entrance preparation, while StudyFMGE will cater to international medical graduates. Global Medical Career Pathways will provide guidance for international examinations, including PLAB/UKMLA, USMLE and AMC.

Speaking at the launch, Dr. Sowmya N.S., Co-founder and COO of StudyMEDIC, said the initiative reflects the organisation's vision of making quality medical education accessible from the first year of medical school.

CEO Anil Kumar highlighted that the expansion marks an important strategic milestone in building a comprehensive, technology-enabled global medical education ecosystem.

Through this initiative, StudyMEDIC aims to connect undergraduate learning, postgraduate preparation and international medical career opportunities within one integrated platform. 

Altigreen Introduces MINSARA: Purpose Built Multi-Utility Electric Two Wheeler For Urban And Rural India

- Engineered for versatility, ruggedness and everyday productivity, MINSARA is designed to meet the diverse mobility and utility needs of India’s working population, small businesses and rural communities

- Three variants for diverse requirements: MINSARA S (2.78 kWh, 125 km range), MINSARA S+ (3.8 kWh, 165 km range) and MINSARA SE (battery-swappable)

- Powerful performance: 172 Nm peak torque, 33% gradeability and a Gross Vehicle Weight Rating (GVWR) of 264 kg, engineered for demanding utility applications

- Rugged engineering and superior riding confidence: 17-inch alloy wheels, high-endurance rib-caged chassis, telescopic suspension, crash guard protection and dual disc brakes with CBS

- Starting at ₹1.24 lakh (ex-showroom): Bookings are open, with deliveries commencing from 1st December 2026 in Bengaluru, Vijayawada and Noida

Altigreen, a pioneer in India’s electric commercial mobility industry and now part of the JAKSON Group, today announced the launch of MINSARA, a purpose-built Electric Multi-Utility Two-Wheeler designed to address the evolving mobility needs of urban and rural India.

With MINSARA, Altigreen is entering the electric two-wheeler segment with a differentiated product proposition that extends beyond conventional personal commuting. Developed for customers who depend on their two-wheelers for multiple purposes, MINSARA combines the practicality of everyday mobility with the ruggedness, performance and endurance required for diverse utility applications.

From farmers and rural entrepreneurs to urban delivery professionals, small traders, service technicians and fleet operators, customers increasingly require vehicles capable of adapting to varied usage conditions. MINSARA has been designed to address this opportunity, offering a versatile electric mobility solution that is equally relevant to urban streets, semi-urban markets and rural roads.

Powered by a high-performance electric drivetrain, MINSARA delivers 172 Nm peak torque and 33% gradeability, enabling strong pulling capability and confident performance across inclines and challenging terrains. With a Gross Vehicle Weight Rating of 264 kg and a top speed of 75 km/h, the vehicle is engineered to meet the diverse requirements of everyday transportation and utility applications.

The vehicle features 17-inch alloy wheels, telescopic suspension and a high-endurance rib-caged chassis, offering a combination of stability, durability and riding comfort across varying road conditions – making it an ultimate choice for commercial loading and long-life earning partner. The vehicle comes equipped with crash guard protection, dual disc brakes with Combined Braking System (CBS), a main stand and a side stand with safety alert, supporting convenient and confident everyday usage.

Deepak Thakur, CEO, JAKSON Green Vehicles, commenting on MINSARA launch said, "India’s mobility requirements are as diverse as its people. From urban entrepreneurs and delivery professionals to farmers and small-business owners in rural markets, millions depend on two-wheelers as an essential part of their everyday lives and livelihoods. With MINSARA, we are introducing a product that brings together utility, performance and sustainable technology to meet these real-world needs.

As part of JAKSON Group, Altigreen will play an important role in our vision of accelerating India’s transition towards cleaner, more productive and accessible mobility solutions. This launch reflects our commitment to technology-led products that create meaningful value for customers while contributing to a sustainable future.”

Amitabh Saran, CTO & Founder, Altigreen said, “At Altigreen, we have always believed that technology must solve real customer problems. Across India, two-wheelers support businesses, livelihoods and everyday responsibilities, often under demanding operating conditions. Quite naturally, MINSARA is engineered, ground-up, to be a segment leader. It is a timely and great addition to our existing three-wheeler cargo neEV series. It embodies our continued commitment towards innovative, Made-in-India electric mobility solutions.

Supported by Altigreen’s growing 3S dealership network, best in class after-sales service and customer-centric ownership solutions, we aim to build lasting customer confidence. We believe our success will ultimately be measured by our customers success and progress in life.”

MINSARA is priced starting at ₹1.24 lakh (ex-showroom) and comes with a standard warranty of 3 years or 30,000 km, with extended warranty options planned.

MINSARA is now available for booking through Altigreen dealerships in Bengaluru, Vijayawada and Noida, with deliveries scheduled to commence from 1st December, 2026.

The introduction of MINSARA marks a significant milestone in Altigreen’s expansion strategy as it broadens its electric mobility portfolio beyond cargo three-wheelers into the two-wheeler multi-utility segment, with plans to enter the passenger three-wheeler category soon.

About Altigreen

Altigreen is a pioneering Indian electric mobility company focused on developing innovative, sustainable and utility-oriented transportation solutions. Driven by deep in-house research and development capabilities, Altigreen has built a strong technology foundation with 32 registered patents. Its flagship electric cargo three-wheeler, Altigreen neEV, established a benchmark in indigenous EV engineering, with more than 93% of its material content, excluding battery cells, developed in-house and manufactured in India.

Now part of JAKSON Group, Altigreen is expanding its electric mobility portfolio across two-wheelers, cargo three-wheelers and passenger three-wheelers, with a continued focus on product innovation, reliability and customer productivity.

About JAKSON Group

With a legacy of more than 78 years, JAKSON Group is a leading Indian energy and sustainable solutions company committed to enabling cleaner, more efficient and sustainable development.

The Group operates across five business verticals: Distributed Energy, Solar, Green Energy, Infrastructure and Biofuels. It has served more than 75,000 customers globally and employs over 3,500 people across India and international markets.

Through Altigreen and JAKSON Green Vehicles, JAKSON Group is extending its commitment from energy transition to mobility transition, developing innovative electric mobility solutions to support India’s sustainable growth.