Friday, January 15, 2021

ThoughtWorks Aacuires Gemini Solutions Inc For European Expansion

 


ThoughtWorks, a global software consultancy today announced it has agreed to acquire Gemini Solutions Inc., a privately-held software development and consulting services firm.

Founded in 2005 by a group of Silicon Valley technologists, Gemini Solutions is dedicated to delivering world-class software product development services. Today, it has over 170 team members that include software engineers and operations staff based in Romania covering a broad spectrum of technologies across the entire software product development lifecycle. Their technical teams are recognized not only for their fast-paced delivery but also for their product development discipline. Gemini Solutions offers a unique blend of creativity, agility, discipline, and technical excellence which has resulted in enduring partnerships with clients.

The close of the acquisition will see the establishment of ThoughtWorks Romania with the Gemini Solutions team at its core. The acquisition will strengthen ThoughtWorks' foundation and overall European expansion. The team will provide nearshore support for ThoughtWorks' clients in the UK and Germany as well as continue to support Gemini's existing clients in North America, France, and Germany.

Serban Tir, previously the chief technology officer of Gemini, will serve as the general manager (GM) of ThoughtWorks Romania.

"We are delighted that Gemini Solutions Inc will be joining the ThoughtWorks family. The team will form a key part of ThoughtWorks' global as well as European expansion plans. We have been seeking a premium partner to help increase our nearshore delivery capability and capacity, especially in Europe, and Gemini is a perfect fit. We're excited about taking on the baton from the Gemini founders and taking the business to the next level of its evolution. The team brings with them a wealth of experience and will also accelerate growth in our key strategic focus areas of digital transformation, enterprise modernization, data, and customer experience. Gemini's talent, cultural fit, commitment to delivery, ability to grow, and existing client relationships fit nicely with our own," said Guo Xiao, president and chief executive officer, ThoughtWorks.

"Since our inception, we have worked to help leading organizations regardless of size or maturity to flourish and thrive by providing exceptional software solutions. ThoughtWorks and Gemini Solutions have a common philosophy and dedication to client success. We are excited to have the opportunity to become part of a leading player in the global IT industry. This acquisition is also a testament and validation of the great talent and capability of the Romanian IT sector that a global organization like ThoughtWorks would look to invest in this market," said Theo Nissim, chief executive officer & founder, Gemini Solutions Inc.

This acquisition will significantly improve ThoughtWorks' ability to support and service clients, especially in Europe. The Gemini team brings with them a wealth of experience in IoT, big data, AI, data science, mobility, and cloud that will enhance and strengthen ThoughtWorks' offer in this space.

The transaction is expected to close in January 2021, subject to the satisfaction of closing conditions. Financial details are not being disclosed.

About Gemini Solutions

Founded in 2005 in San Francisco by a core group of Silicon Valley technologists and having a development center in Romania, Gemini Solutions delivers world-class software product development services. With over 170 team members that include software engineers and operations staff working in Bucharest, Cluj and Iasi, Gemini Solutions covers a broad spectrum of technologies across the entire software product development lifecycle. Gemini Solutions is committed to support its clients and partners with a unique blend of creativity, agility, discipline, and technical excellence.

https://www.geminisols.com/

About ThoughtWorks

We are a software consultancy and community of passionate purpose-led individuals, 7,000+ people strong across 46 offices in 15 countries. Over our 25+ year history, we have helped our clients solve complex business problems where technology is the differentiator. When the only constant is change, we prepare you for the unpredictable. www.thoughtworks.com

ThoughtWorks Receives $720 Million Investment At An Enterprise Value Of $4.6 Billion


ThoughtWorks, a global software consultancy today announced that GIC, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company have invested $720 million in the company.

Founded over 25 years ago, ThoughtWorks has grown from a small team in Chicago to a leading global software consultancy of more than 7,000+ ThoughtWorkers. Its roots are in digital transformation and agile software development and the company has been at the forefront of defining the tech principles used by some of the world's most successful organizations.

The proceeds will be used to repurchase equity from existing investors. The new commitment of capital comes as the company continues to invest in growth and international expansion.

"This placement is a very positive indicator of how strong our company and brand are perceived in the market. It's wonderful that GIC, Siemens, Fidelity and Mubadala see ThoughtWorks to be a strong investment and this is an endorsement of the strength and relevance of our business and people," said Guo Xiao, president and chief executive officer, ThoughtWorks.

"Since partnering with ThoughtWorks in 2017, the company has gone from strength to strength – accelerating growth and profitability and transforming to be world class in a highly strategic global market. ThoughtWorks' talented employees, global footprint and reputation for technical excellence make it a standout offering in the rapidly evolving digital transformation space," said Rohan Haldea, partner at Apax. "We welcome GIC, Siemens, Fidelity and Mubadala Investment Company as additional investors to support the company's growth strategy."

"Siemens strongly believes in the growth potential of supporting the digitalization of businesses across all industries. We believe that ThoughtWorks is the right partner with outstanding capabilities. I am proud of our investment to jointly accelerate digital transformation," said Cedrik Neike, managing board member of Siemens, responsible for Digital Industries and Siemens Advanta.

"As the clear market leader in digital transformation, ThoughtWorks' long term growth prospects were key to our investment decision. The company's unique offerings are pivotal to the digitization of many businesses which we see accelerating in 2021 and beyond," said Tim Breen, executive director, Technology at Mubadala.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as placement agents to ThoughtWorks in connection with this transaction. Kirkland & Ellis LLP acted as legal advisor to ThoughtWorks.

About ThoughtWorks

We are a software consultancy and community of passionate purpose-led individuals, 7,000+ people strong across 46 offices in 15 countries. Over our 25+ year history, we have helped our clients solve complex business problems where technology is the differentiator. When the only constant is change, we prepare you for the unpredictable. www.thoughtworks.com

About Apax Partners LLP

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. www.apax.com

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore's foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. Headquartered in Singapore, GIC has investments in over 40 countries and employs over 1,700 people across 10 offices in key financial cities worldwide. www.gic.com.sg.

About Siemens

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020. In fiscal 2020, which ended on September 30, 2020, the Siemens Group generated revenue of €57.1 billion and net income of €4.2 billion. As of September 30, 2020, the company had around 293,000 employees worldwide. www.siemens.com.

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala's $232 billion (AED 853 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates. Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing. www.mubadala.com.


ITC Limited Conferred The ICSI National Award For Excellence In Corporate Governance


ITC Limited has been adjudged ‘Best Governed Company’ at the 20th ICSI National Awards for Excellence in Corporate Governance, 2020 in the Listed Segment: Large Category in recognition of its consistent growth and performance, contributive capabilities, governance ethos, and sensitized approach towards CSR and sustainable development. The Award was adjudged by an eminent jury under the chairmanship of Hon’ble Justice Shri A. K. Sikri, Former Judge, Supreme Court of India, and International Judge, Singapore International Commercial Court.

ITC’s Company Secretary, Rajendra Kumar Singhi was also adjudged ‘Governance Professional of the Year’ for his contribution towards adoption of effective governance processes. Mr Singhi received the Award on behalf of ITC at a ceremony held on the 13th of January 2021. 

Mr Piyush Goyal, Hon’ble Minister of Railways, Commerce and Industry and Consumer Affairs, Government of India was the Chief Guest at the Awards ceremony, which was also graced by stalwarts of the Indian corporate sector and governance professionals.

Thanking the ICSI for bestowing the Award, Chairman Mr Sanjiv Puri stated, “We are deeply humbled by this befitting recognition for ITC’s robust governance model anchored on the timeless values of trusteeship, transparency and ethical corporate citizenship. The high standards that we have set for ourselves is inspired by our credo of 'Nation First - Sab Saath Badhein' that seeks to create enduring value for our stakeholders, making a meaningful contribution to creating larger societal value whilst enhancing the competitiveness of our businesses with agility and innovative capacity. This Award, received in the presence of Hon'ble Minister Shri Piyush Goyal ji, will indeed be a source of immense encouragement to Team ITC as we traverse this journey to build a better tomorrow for our stakeholders and the Nation". 

ICSI National Awards for Excellence in Corporate Governance is a prestigious award that acknowledges the implementation of best practices in corporate governance. Instituted by ICSI, these awards encourage and recognize individuals and listed companies that imbibe and promote a culture of good corporate governance by not only inculcating good corporate governance principles in their functioning but also by implementing innovative practices, programs, and projects promoting the cause of corporate governance. It rigorously evaluated participants on several parameters including governance structure, transparency, and disclosure compliances, amongst others.

ITC has been one of the frontrunners in India to have put in place a formalized system of corporate governance, more than 2 decades back. 

ITC’s abiding commitment to its credo of ‘Nation First: Sab Saath Badhein’ is embodied in its corporate vision to sustain ITC’s position as one of India’s most valuable corporations through world-class performance, creating value for the Indian economy and the company’s stakeholders. The company’s corporate governance philosophy is anchored on the values of trusteeship, transparency, ethical corporate citizenship, empowerment & accountability, and control that is embedded in the strategies and planning process of every business of the company. 

o9 Solutions Doubles Its Annual Revenue Bookings During 2020


 o9 Solutions Inc., a leading provider of Integrated Business Planning platforms for the digital transformation of enterprise-wide planning and decision-making capabilities, announced significant bookings growth during 2020 today.

o9 more than doubled its annual recurring revenue bookings in 2020, demonstrating strong market demand for its platform. The company reported an 83 percent increase in employees in 2020, bringing its total headcount to 830. The company also continued to maintain a robust cash position underscoring its efficient and scaled growth trajectory.

Clients across various industry segments, including Consumer Packaged Goods (CPG), Manufacturing and Retail, are turning to o9’s intelligent, AI-enabled platform to unlock significant business value through superior visibility, predictive and prescriptive insights, and cross-functional collaboration.

“Our continued growth is a true testament to market opportunity. Business leaders are realizing the tremendous value creation potential of using o9’s platform, as the ‘digital brain’ of their enterprise,” said Chakri Gottemukkala, CEO of o9. “The pandemic has exposed the need for real-time, market-driven, and integrated planning across the enterprise. The power, flexibility, and ease-of-use of o9’s platform is driving its rapid adoption and growth, and we see these trends continuing to play out at scale.”

o9 added bookings across all its core industry verticals of CPG, Manufacturing and Retail with notable growth in the Food & Beverage and Fashion & Apparel sub-segments. The company also delivered a record number of global deployments to its clients during 2020 by leveraging its industry specific reference models and realizing rapid time to value across complex planning workflows including demand, supply and S&OP planning.

“We are seeing strong demand indicators heading into 2021 and beyond, and intend to aggressively invest into global growth particularly in China, Latin America and South-East Asia”, said Igor Rikalo, President & COO commenting on o9’s outlook. “o9 has the most advanced cloud-native platform for all planning capabilities, as evidenced by its adoption by leading Fortune 100 companies. We have significantly scaled our capabilities across sales, marketing, and delivery to support our pipeline and expected growth, and are well-positioned to capture the opportunity ahead of us.”

During 2020, o9 achieved several significant milestones including:

*  Raising its first-ever external strategic investment from KKR at ‘unicorn’ valuation.

*  Expanding its partnership with Deloitte with the announcement of a formal alliance to deliver end-to-end integrated planning and operations capabilities to customers across the world.

*  Announcing technology ecosystem partnerships with High Radius for trade promotion planning and settlement, Operaize for manufacturing scheduling and sequencing, project44 for supply chain visibility, FourKites for freight tracking visibility, and Gurobi for state-of-the-art mathematical optimization software

*  Adding vTradex and Samsung SDS as regional partners to accelerate go-to-market activities in China and South Korea, respectively

*  Provided both technical and business process implementation certifications to thousands of consultants and experts at all the major system integrators, consulting firms and geographical regions

*  Significantly expanded the AIM 10x Executive Council with former C-level executives experienced in significant digital transformation across CPG, Retail and Manufacturing industries

*  Named as Fastest Growing Private Company in America in Inc. 5000 and Deloitte’s Technology Fast 500 lists for the second consecutive year

Thursday, January 14, 2021

Indigo Paints Ltd IPO Open From January 20, 2021 With Price Band Of Rs. 1,488-1,490 Per Equity Share


* Price Band of Rs. 1,488 – Rs. 1,490 per equity share of face value of Rs. 10 each (“Equity Share”) A discount of Rs. 148 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion

* Bid/Offer Opening Date – Wednesday, January 20, 2021 and Bid/Offer Closing Date – Friday, January 22, 2021

* Minimum Bid Lot is 10 Equity Shares and in multiples of 10 Equity Shares thereafter

* The Floor Price is 148.8 times the Face Value of the Equity Shares and the Cap Price is 149.0 times the Face Value of the Equity Shares.

Pune based, Indigo Paints Limited (the “Company”), one of the fastest growing amongst the top five paint companies in India and fifth largest company in the Indian decorative paint industry in India in terms of its revenue from operations for FY20 (Source: F&S Report), will open the Bid/Offer period in relation to its initial public offering of Equity Shares (the “Offer”/ “IPO”) on Wednesday, January 20, 2021. The Bid/Offer period will close on Friday, January 22, 2021. The price band of the Offer has been fixed at Rs. 1,488 – Rs. 1,490 per Equity Share. The Company may, in consultation with the Book Running Lead Managers (the “BRLMs”), consider participation by Anchor Investors which shall be one Working Day prior to the Bid/Offer Opening Date.

The IPO comprises a fresh issuance of Equity Shares aggregating to Rs. 3,000 million by the Company (“Fresh Issue”) and an offer for sale of up to 5,840,000 Equity Shares by Sequoia Capital India Investments IV and SCI Investments V (the “Investor Selling Shareholders”), and the promoter selling shareholder, Hemant Jalan (the “Promoter Selling Shareholder” and together with the Investor Selling Shareholders, the “Selling Shareholders” and such offering of Equity Shares by the Selling Shareholders, the “Offer for Sale”). The Offer includes a reservation of up to 70,000 Equity Shares for subscription by Eligible Employees of the Company (the “Employee Reservation Portion”).  The Company and the Selling Shareholders in consultation with the BRLMs, are offering a discount of Rs. 148 per Equity Shareto the Offer Price to Eligible Employees bidding in the Employee Reservation Portion.

The Offer less the Employee Reservation Portion is referred to as the “Net Offer”. The Offer is being made through book building process in accordance with Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 and Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”) and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that the Company may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Company proposes to utilise the Net Proceeds as follows (i) INR 1,500 mn towards funding capital expenditure for expansion of its existing manufacturing facility at Pudukkottai, Tamil Nadu by setting-up an additional unit adjacent to the existing facility; (ii) INR 500 mn towards purchase of tinting machines and gyroshakers; (ii) INR 250 mn towards repayment/prepayment of all or certain of Company’s borrowings; and (iv) balance towards general corporate purposes.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing. For the purpose of the Offer, BSE is the Designated Stock Exchange.

Kotak Mahindra Capital Company Limited, Edelweiss Financial Services Limited and ICICI Securities Limited are the BRLMs to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated January 11, 2021 (“RHP”)./.

Tata Motors Commences Production Of New Safari From Its Pune Plant


*  Rolls out the first Safari from the Pune plant

• Reveals the first official look of the new Safari

• Launches AR suite Imaginator for a holistic virtual experience

Tata Motors, India’s leading automotive brand, today formally unveiled the new avatar of the iconic Tata Safari, which is a potent combination of power and elegant sophistication. In a flag-off ceremony held today, the first Safari in its full glory rolled out of the line from the plant in Pune. While the Safari makes its way to the showrooms, leveraging the power of digital, Tata Motors has also launched the Tata Safari Imaginator suite, power packed with interactive features using Augmented Reality (AR), for customers to explore the Safari virtually at their preferred location including their living room!  

The award winning Impact 2.0 design language of the new Safari readily tells its all-purpose nature. The Safari’s unique and domineering stance has been enhanced in the new avatar and key areas like the elegant grille, the unmistakable stepped roof and the imposing tailgate have been given ultra - premium finishes. Sculpted impeccably with an uncompromised strong stance, imposing wheel arches and a careful accenting of chrome gives the new Safari a jewel-like appearance. The interior of the Safari takes the premium element even higher, with the rich Oyster White interior theme, paired with Ash Wood dashboard. It is specially designed and developed for the socially active, fun loving customer group, who seek unique experiences and adventure.

Unveiling the first official look of the new Tata Safari, Mr. Guenter Butschek, CEO & MD, Tata Motors said, “The Safari is our flagship offering to connect the aspirations of the discerning and evolved Indian customer. It had introduced India to the SUV lifestyle and in its new avatar, will carry forward this rich idea to build further its legacy. The new Tata Safari is ideal for families and groups with a multifaceted lifestyle, who prefer to drive together for work or leisure, as it offers an unmatchable combo of an exceptionally strong lineage, robust build quality, premium finishes and the 4Ps of Power, Performance, Presence and Prestige to ‘Reclaim Your Life’. We look forward to making the Safari rule the Indian roads once again.”

The new Safari has evolved to satisfy the new age SUV customers, who demand arresting design, unparalleled versatility, plush and comfortable interiors, outstanding performance for a modern, multifaceted lifestyle. Customers can now get close with the new Safari by remotely accessing the Tata Safari Imaginator suite.  Simply by using their handsets, they can take a walk around the new Safari or choose to step inside it for a fully immersive experience, in their preferred environment for a real-life like feel. Click here (https://cars.tatamotors.com/suv/safari/ar) to experience the new Tata Safari!

The new Safari proportions are imposing, accentuated by wide, large wheels, with tremendous road presence and powered with a graceful agility. The smart and expressive surface treatment brings in a surreal dynamism, making the Safari seem like it is moving even while standing still. The iconic stepped roof, held between the equally well regarded roof-rails have been re-imagined making them immensely stylish and yet functional.  

The interiors of the new Safari too have been crafted with exquisite deft to convey a classy, comfortable feel via diligently curated choice of features, superior ‘In-touch’ interfaces and the intriguing addition of superlative details. All materials used convey the touch, feel and colour of luxury anchored in authenticity, giving the SUV its deserving plush feel. The new Safari carry forwards the legend’s much lauded for aspect of space and cossetting occupants with high driving and sitting positions that make them always feel in command. With purposeful aesthetics, the surface language of the new Safari continues to remain clean, uncluttered and benefits from the addition of a unique design element - the signature Tri-arrow motifs.  

The new Safari further builds on the legacy of prestige and outstanding performance by combining Tata Motors’ Impact 2.0 design language with the proven capability of OMEGARC, an architecture derived from the renowned D8 platform from Land Rover, which in itself is the gold standard of SUVs worldwide. This adaptive architecture allows for further drive train enhancements including all-wheel drive and possibilities of electrification in future.

Tata Motors will open bookings of the Safari soon.

Jaguar Land Rover Adds New Retailer Partner In Brookfield, Bengaluru



* Jaguar Land Rover India has appointed Shakti Auto Cars as its new Retailer Partner

* New state-of-the-art 3S (Sales, Service and Spare parts) Retailer facility in prime Brookfield area of Bengaluru is spread over a total area of over 4 180 m2 with an expansive showroom display and a fully equipped service workshop

* This additional JLR facility in Bangalore would provide enhanced access to customers    

* Jaguar Land Rover India distribution network is spread across 28 outlets in 24 major cities across India

Jaguar Land Rover India today announced the appointment of Shakti Auto Cars as its new Retailer Partner in Bengaluru, with Venkatesh Tatuskar as its Director. The new, state-of-the-art 3S facility is located in the upscale Brookfield area of Bengaluru, close to the major IT hub of Whitefield area.

This Retailer facility is spread over 4 180 m2 and is designed to provide the highest quality of sales and after-sales experience for its customers. With a 10 cars display, a wide range of Jaguar and Land Rover vehicles can be showcased to discerning customers. An impressive handover bay for delivering vehicles at the showroom allows for a more personalized customer experience. The facility also has an Approved pre-owned car area to cater to the needs of pre-owned customers, while also showcasing a wide range of Jaguar Land Rover branded accessories and merchandise. An integrated service workshop, equipped with 18 service bays with state-of-the-art equipment is manned by a team of highly trained staff to delight customers with an exceptional ownership experience. 

Rohit Suri, President & Managing Director, Jaguar Land Rover India Ltd (JLRIL), said: “We are delighted to announce that we have partnered with Shakti Auto Cars to service our customers in Bengaluru. With its ultra-modern sales facility, housing sales, service and spares, it provides our customers with an enhanced access and convenience, along with a world class experience of owning a Jaguar Land Rover product in this region.”

Customers can even book their cars by visiting the online booking platform at www.findmeacar.in for Jaguar and www.findmeasuv.in for Land Rover.

For more information on Jaguar and Land Rover product range in India, please visit www.jaguar.in and www.landrover.in

Jaguar Product Portfolio in India

The Jaguar range in India includes XE (starting at ₹ 46.64 Lakh), XF (priced at ₹ 55.67 Lakh), F-PACE (priced at ₹ 66.07 Lakh) and F-TYPE (starting at ₹ 95.12 Lakh). All prices mentioned are ex-showroom prices in India.

Land Rover Product Portfolio in India

The Land Rover range in India includes the Range Rover Evoque (starting at ₹ 59.73 Lakh),  Discovery Sport (starting at ₹ 60.99 Lakh), Range Rover Velar (priced at ₹ 75.28 Lakh),  Discovery (starting at ₹ 75.60 Lakh), New Defender (starting at ₹ 73.98 Lakh) Range Rover Sport (starting at ₹ 89.13 Lakh) and Range Rover (starting at ₹ 201.93 Lakh). All prices mentioned are ex-showroom prices in India.

Jaguar Land Rover Retailer Network in India

Jaguar Land Rover vehicles are available in India in 24 cities, through 28 authorized outlets in Ahmedabad, Aurangabad, Bengaluru (3), Bhubaneswar, Chandigarh, Chennai, Coimbatore, Delhi (2), Gurgaon, Hyderabad, Indore, Jaipur, Kolkata, Kochi, Karnal, Lucknow, Ludhiana, Mangalore, Mumbai (2), Noida, Pune, Raipur, Surat and Vijayawada.

WFH Culture And Demand For Bigger Homes Drive Popular Trend In Bengaluru - Reveals Magicbricks PropIndex Report Q4


* Real estate market in Bengaluru showed QoQ growth in Q4

* Demand for 3bhks triggered post the lockdown

Post witnessing stunted growth ascribed to a stressed environment due to COVID induced lockdown, the real estate market in Bengaluru is gradually returning to pre-COVID levels primarily driven by growth in demand for bigger homes due to the rise in Work-From-Home (WFH) culture, shows Magicbricks PropIndex report Q4.

As a result of the “Work from Home” culture, consumers were increasingly looking for additional space which resulted in increased demand for 3BHK configuration. The demand has increased from 45% in Q3 2020 to 52% in Q4 2020. The propensity of demand was concentrated mostly in North and South Bengaluru localities such as Whitefield, Sarjapur Road, and Bellary Road which ranked continuously high in terms of searches.

According to PropIndex, in Q4 2020, Bengaluru's residential market continued to show 3.2% QoQ growth in demand, represented by property searches. Supply has also improved by 10.4% QoQ with launch of new projects and improved listings in the secondary market.

It is interesting to note that after price decline in the previous two quarters, due to the festive discount by builders, waiver on stamp duty, and deferred payment plans, under-construction (UC) properties finally showed a marginal 0.4% growth in Q4 2020, while Ready-to-move (RTM) properties in recorded price decline of 0.7% QoQ. According to Magicbricks data, price decline was witnessed in most areas such as Horamavu, Anjanapura, Ramamurthy Nagar, and Attibele within a <INR 5000 per sqft range, suggesting a decline for properties in peripheral areas with less social amenities.

Commenting on the PropIndex report, Sudhir Pai, CEO, Magicbricks, said, “With uncertainties around the economy and jobs now stabilising, we are witnessing signs of growth in the real estate sector as well.  The economy has also stopped shrinking since October 2020 and now we are seeing a V-shaped recovery in the real estate sector. There are predictions of net positive GDP growth for the ‘Oct-Dec 2020’ quarter at 0.1% and rebound growth at 10% for FY 2021-22, making it surpass pre-COVID levels. With impetus from the government in the form of stamp duty cuts in some states and first-home buyer incentives, buyer demand is expected to stay at elevated levels in 2021.”

It was also noteworthy that more consumers were preferring to shift in costlier segments. The search trends of Q4 2020 in Bengaluru has shown an increased preference for properties in the higher price range. The demand for greater than INR7,000 per sqft held a market share of 32% in Q4 2020 as against 27% in Q3 2020.

About Magicbricks: India's no 1 property site

Magicbricks is India’s No.1 property site. With monthly traffic exceeding 20 million visits and with an active base of over 1.4 million+ property listings, Magicbricks provides the largest platform for buyers and sellers of property to connect with each other in a clear, transparent manner. With this in mind, Magicbricks has innovated several product features, content, and research services, which have helped us build the largest audience pool.

Wednesday, January 13, 2021

Challenges: Do I Need To Repeat The Mistake My Senior Friend Made?



 By Awkash Agrawal, Engineering Leader - Product and Platform Engineering, Altimetrik 

Journey of new bee in corporate

Too many questions but answers were elusive, thus I came up with the strategy of Curiosity, Calibre and Courage. Here order is important and so is the role of mentor or senior friend. Let’s turn towards the organization setting now where a fresher joins a team, he was given a red carpet treatment and welcomed in the team with zeal. Second day in office he was given a software production problem to solve. This guy doesn't know what to do and where to start. He will be fearful about production for his life now. Second scenario a senior friend of his is assigned this production problem and this guy sitting next to him, just curiously watching all the Greps, Traceroutes and Splunk queries senior friend is firing. He ended his day with his eyes opened but still curious in his mind that one day he will also do this on his own. That is where Curiosity comes into play where you generate enough that person feels intrigue.

After 3 weeks in the system this senior friend turns the table and  asks this Sophomore(borrowed term :)) to solve the production problem for himself. This new guy again finds himself in no man's land. Oh my god I have just seen the queries being run and that too at lightning pace, how can I deal with such a big ask from me. The initial approach of this senior friend is flawed because he has not allowed this junior to harden his capabilities and give shock therapy to gauge his calibre. Better be is to have a junior being delegated some queries to run from the second day of his job and let him/her strengthen his capability.

After 6 weeks in the system one fine day this senior friend made a call to this Graduate(Borrowed term) saying he is not well today, can you look at this ticket number assigned to me. Oh gosh, another blooper, this guy again caught on the wrong foot. Where to look for the ticket to contact this details, do I have enough info about the ecosystem because till now he was doing all this for me. One more time senior friend has not played his role to a satisfactory level. Better be he should be making his junior courageous in front of him and not on the day when he was not available. He/she should

have asked this guy to handle the production tickets from 5th week itself so that he is having enough info and courage under his belt to make an informed decision.

Conclusion

In conclusion keep things in check with balancing 3 Cs to ensure a frictionless pull the plug journey. Too early you will have possible chances of breaking the individual, too late will put one's learning ability and risk taking capability at stake. In the end change should be continuous and not shock therapy based.

Wipro Dec’20 Quarter Results – Strong Broad Based Growth Performance; Margin Surprises Positively

 


Result Summary

·         Wipro reported revenues of US$ 2.1bn, up 3.9%/-1.1% QoQ/YoY (CC 3.4%/-2% QoQ/YoY), in line with our expectations of $ 2.05bn. (TCS Q3FY21 revenues was US$ 5.7bn, 4.1% CC QoQ).

·         Overall EBITM expanded 280bps QoQ at 21.6% and came ahead of our expectations. (TCS Adj. EBITM expanded 40bps QoQ to 26.6%).

·         IT Services EBITM expanded 243bps QoQ on back of revenue acceleration, offshoring (52.7% of revenue vs 50.4% QoQ), and operating efficiencies.

·         Adj. Profits at Rs29.7bn (+20.3% QoQ, 21% YoY), 15% ahead of our expectations.

·         The company announced an interim dividend of Rs1 per share.

·         Company guided Q4 growth to be in the range of 1.5% - 3.5% QoQ to $2,102mn to $2,143mn

·         It signed 12 deals with TCV >US$30mn during Q3 with combined TCV of US$1.2bn

Growth by Verticals (all in constant currency terms)

·         Financial Services:  -2.5%YoY ( V/s -3.3% YoY in Sep’20 quarter)

·         Manufacturing: -2.4%YoY ( V/s -1.5% YoY in Sep’20 quarter)

·         Healthcare: 3.7%YoY( V/s 2.3% YoY in Sep’20 quarter)

·         Communications: -11.4%YoY ( V/s -10.3% YoY in Sep’20 quarter)

·         Energy: -2.6% YoY ( V/s -5.4% YoY in Sep’20 quarter)

·         Consumer Business Unit: -3.6% YoY ( V/s -2.1% YoY in Sep’20 quarter)

·         Technology: 0.6% YoY ( V/s -7.1% YoY in Sep’20 quarter)

Growth by Geographies (all in constant currency terms)

·         US: -3.2% YoY ( V/s -4% YoY in Sep’20 quarter)

·         Europe: 1.4% YoY( V/s -5.7% YoY in Sep’20 quarter)

·         ROW : -2.5% YoY( V/s 2% YoY in Sep’20 quarter)

Manpower details

Total Headcount: 190,308, up  5,065 QoQ

LTM Attrition: 11%, V/s 11% in Sep’20 quarter and 13% in Jun’20 quarter..

Udhyam Learning Foundation Helps Small-Business Owners Reach Pre-Covid Income Levels Via Interest-Free Loans

 


Udhyam Learning Foundation through its vertical Udhyam Vyapaar, is focussed on enabling micro and small-scale entrepreneurs to scale and succeed. They have been helping nano-entrepreneurs or vyapaaris in the city build their business back to pre-Covid income levels and aim to do this by providing interest-free loans and necessary skill-sets and training to over 500 nano-entrepreneurs.

A lot of these vyapaaris were badly hit during the lockdown period and found it difficult to sustain their business due to loan sharks and lack of other monetary aid. Udhyam Vyapaar, therefore, designed a unique model that not only offers monetary support but also enables the vyapaaris to undergo finance and digital lessons post the loan is availed. Creating business plans, managing profit & loss accounts, developing capabilities in marketing decisions and customer services are included in the training curriculum, which enables the vyapaaris to better utilise the funds. Besides, these vyapaaris are also provided with on-demand consulting and a WhatsApp group has been created for them to easily communicate, share their challenges and discuss new business ideas.

A vyapaari is eligible for INR 10,000 collateral-free loan and the repayment model is INR 100 in 100 days. 

Commenting on this initiative, Mr.Mekin Maheshwari, Founder, Udhyam Learning Foundation, says, “A vypaari on an average earns around INR 500 daily and the informal money lenders charge exorbitant interest rates sometimes over 60% p.a. for a loan of 10k. They are unable to get credit from the formal banking system, which requires assets, documents and evidence that they do not have. We envision being able to create models that can be used by NBFCs and banks to lend viably to this neglected segment of entrepreneurs. We hope to dispel myths around exorbitant non-payment by these hard-working entrepreneurs. Our digital training lessons and financial literacy aims to make them ready for the future and more resilient to cope with challenges.”

“We believe in serving, enabling, and creating opportunities for the ‘invisible business owners’ who form a big part of our local market ecosystem.”

So far, Udhyam Vyapaar has been able to raise funds through crowdfunding and corporate donations. Over 70 loans have been sanctioned to more than seven lines of business such as tea shops, ironing/laundry, homepreneurs, fruit/vegetable sellers, and over 61% of small entrepreneurs were able to scale their existing businesses while 39%  kick-started new businesses. ULF, through this initiative, is also working on helping vyapaaris gain access to formal credit and enabling them to get rid of informal money lenders who charge exorbitant interest rates. 

About Udhyam Learning Foundation: 

At Udhyam Learning Foundation, our vision is to co-create a caring world, where people fearlessly pursue their potential. We believe that every person has immense potential and entrepreneurship is a powerful way to channel this potential. Entrepreneurship enables agency and allows an individual to work on his/her strengths while creating value for the world. Udhyam is working to unleash this potential.

About Udhyam Vyapaar:

UdhyamVyapaar: Interventions designed for nano entrepreneurs to scale and succeed that use proven tools of business growth like technology, marketing, finance, & trainings

Goldmedal Electricals Launches Suraksha Scheme For Electricians


Goldmedal Electricals, a leading homegrown fast-moving electrical goods (FMEG) company has officially launched the Goldmedal Suraksha Scheme, a life and health insurance scheme for its stakeholders including dealers, retailers, and electricians. While the economy is on a gradual path to recovery, Goldmedal launched this scheme to upkeep the electrical industry and help out those recovering from the consequences of the pandemic.

The COVID-19 pandemic has been financially devastating on independent businesses and the self-employed. Goldmedal acknowledged the reality that many of its dealers and a majority of its retailers and electricians have been affected by the early lockdowns and the subsequent slowdowns. With an aim to support them during such dire times, the company announced a first of its kind Suraksha scheme. 

Commenting on the launch of Goldmedal Suraksha Scheme, Mr. Kishan Jain, Director, Goldmedal Electricals says, "Goldmedal has matured as a pan-India brand with the help of our trustworthy dealers, retailers, and the electricians.  The pandemic caused a massive disruption in the lives of many people all over India and affected the standard of living of many of the self-employed in 2020. We are happy to announce the launch of this scheme and look forward to providing compensation to our business allies. Through the Goldmedal Suraksha scheme, they will be able to take care of themselves and their families and get treatment of all health issues in a seamless and hassle-free manner".

The health and life insurance scheme announced by Goldmedal Electricals is a first of its kind in the industry and it was made available across India to all dealers, retailers, and electricians who are connected to Goldmedal through the Dhan Barse app and fulfil some basic criteria. The life and health insurance scheme offers a total cover of Rs. 5 lakhs. This offers a cover-up to a maximum of Rs. 2 lakh for the hospitalization and treatment of all health issues, including those caused by COVID-19. The life insurance cover is Rs. 3 lakh for death caused by COVID-19. The scheme was launched after Diwali and it has received a favourable response from many parts of the country. With all details of the scheme available in the Dhan Barse app itself, affected users can directly contact the insurance company to apply for compensation. So far, over 7,000 people have availed of this scheme. 

In 2019, Goldmedal Electricals launched Dhan Barse app for communicating directly with the company’s channel partners who are spread across the length and breadth of the country. Goldmedal collaborated with Paytm to enable the payment system within the Dhan Barse app. Apart from informing its channel partners about the latest developments and product launches, the app is also an excellent vehicle for the company to provide incentives and support in times such as these. Goldmedal is one of the premier brands in the electrical wiring and modular switches category and invests substantially in creating digital platforms for its various activities. It has already created multiple mobile apps that enable its sales staff as well as dealers to independently carry out their functions with minimum manual or management intervention.

About Goldmedal Electricals

Goldmedal Electricals is a home grown electricals company which was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. In 1981, Goldmedal entered the Wires and Cables business. In 1995, the company set up a state of the art manufacturing unit in Goregaon, Mumbai for the manufacturing of wires & cables and modular switches.  Alongside Wires and Cables, the company today manufactures a vast range of electrical products including various types of Switches, Home automation systems, Security Systems, Entertainment devices, Door bells, Wires, Cables and more for residential buildings as well as commercial establishments.

Odisha, Gujarat Win Best State & Civic Agency Awards in Janaagraha City Governance Awards

 


* Honourable Union Minister for Housing and Urban Affairs Mr Hardeep Singh Puri conferred the awards in an online award ceremony on January 12, 2021 

Odisha took home the Best State and the Best Civic Agency award, while Gujarat took home the Best State Election Commission and Kerala the Best State Finance Commission. Indore for its PPP Based Integrated Solid Waste Management took home the Best Municipality at Janaagraha City Governance Awards. Meanwhile, Maharashtra won runners-up in four of the five award categories. 

Held in memory of Mr V Ramachandran, a doyen of decentralisation, the awards recognize ground-breaking work in decentralisation in urban context by institutions across government. The awards were conferred in a virtual ceremony by Union Minister for Housing and Urban Affairs Mr Hardeep Singh Puri on Tuesday, January 12, 2021. 

Delivering the keynote address, Mr Hardeep Singh Puri said that cooperative and competitive federalism are in-built into the design and execution of various schemes and missions. “My Ministry is clear that only a partnership between citizens, municipalities, states and MoHUA can deliver transformative urban change in this country. We have seen such a partnership in action, at scale, across hundreds of cities, in schemes like the Swachh Bharat Mission. In the next phase of urban development, we need to invest in building the capacities of municipalities as institutions of local self-government.  As part of Atmanirbhar Bharat, there is sharp focus on shoring up own revenues of municipalities through property tax and user charge reforms,” he said. 

“An innovative, effective and elegant way to catalyse the change at scale throughout the country is by showcasing best practices, celebrating them and facilitating healthy competition and peer learning,” Mr Puri added. 

Odisha won the Best State for its JAGA Mission under the Department of Housing and Urban Development. Meanwhile, the Best Civic Agency was awarded to Piped Water Supply Scheme for all Urban Households, Public Health Engineering Organisation, Odisha. G Mathivathanan, Principal Secretary, Housing and Urban Development, Odisha, received the awards for both the categories. 

“Government of Odisha launched the JAGA Mission with a noble and ambitious objective of transforming slums into livable habitats through a combination of land rights and a comprehensive slum improvement programme. Meanwhile, under the Piped Water Supply Scheme, 900 projects across the state with an investment of Rs 4000 crores were rolled out. As a result, nearly 100 per cent pipe water supply in 114 ULBS was possible in 3 years’ time,” G Mathivathanan said. 

“The COVID-19 pandemic has made decentralization no more an option but urgent compulsion and we are happy the Slum Dwellers Associations are emerging as fourth tier of governance structures with urban poor communities actively participating in development and governance process,” G Mathivathanan added. 

Gujarat emerged winners in the Best State Election Commission category for E-Voting. “Gujarat has a strong tradition of strong self-government institutions. Sardar Patel was the President of the Ahmedabad Municipality from 1924 to 1928. Gujarat Panchayat Act was enacted in 1960 and the state has a strong three tier panchayat system. The State Election Commission has adopted technology in a big way. Gujarat was the pioneer in the adoption of the online voting system. The Commission has mobile compatible website with two way interface upto the voter level. There are more than 1.5 lakh elected representatives in the self-government institutions of Gujarat. The State Election Commission is proud to receive the Janaagraha Award from the institution that is totally committed to empowering the citizens of the country,” said Sanjay Prasad, Honourable State Election Commissioner, Gujarat. 

Kerala’s Fourth State Finance Commission was feted for its recommendations on participatory governance and robust data ecosystem Decentralisation. 

“The Government of Kerala is delighted that the Janaagraha City Governance Award has been given to Kerala's Fourth State Finance Commission for its work on the devolution of funds to the local governments of Kerala. As you know, Kerala has a very strong democratic devolution structure. The Fourth State Finance Commission actually ensured that 25% of the state’s plan outlay would be given to the local bodies, panchayats, municipalities, block and jala panchayats. It also gave several far reaching recommendations in terms of the horizontal devolution of the funds, use of the deprivation index and also suggested various measures to augment revenues of the local bodies. It also made far reaching recommendations regarding maintenance of assets, the cost to borrowings including municipal bonds and setting up of a web based software for financial transaction for the local bodies of the state,” said Rajesh Kumar Singh, Additional Chief Secretary, Kerala Fourth State Finance Commission. 

“We are particularly delighted to receive this award which is in honour and memory of Mr. V.Ramachandran, who is also former Chief Secretary of Kerala and inspiration to all of us and who worked in the field of democratic decentralisation,” he added. 

Indore Municipal Corporation was feted with the Best Municipality award for its PPP Based Integrated Solid Waste Management. 

“The residents of Indore have taken upon themselves to make Honourable Prime Minister Shri Narendra Modi' s Swachh Bharat Mission successful. Indore has been awarded the cleanest city for 4 consecutive years, for which I would like thank the residents of Indore, the garbage tippers and the various municipal body officials.  I would like to express my gratitude for the award that has been presented by Honourable Minister Shri Hardeep Singh Puri to the city of Indore. I would also like to acknowledge the unwavering commitment of our Chief Minister Shri Shivraj Singh, for making the Swachh Bharat Mission successful,” said Ms Malini Laxmansingh Gaur, Mayor, Indore. 

The winners were chosen by an eminent jury comprising Priyank Kharge and Arvind Bellad (Members of Legislative Assembly, Karnataka), Amitabh Kant (NITI Aayog), Ashutosh Varshney (Brown University), Niranjan Rajadhyaksha (columnist and economist, IDFC Institute),Sanjeev Chopra IAS (Director, LBSNAA), Yamini Aiyar (Centre for Policy Research) and SK Das IAS (Retd.) (Chair of Jury, Member of Janaagraha’s Governing Board). 

“Covid 19 has starkly reminded us of the need for government to be close to citizens, at the ward and even polling booth level.  Decentralised governance with citizen participation inherently built into its design is inevitable for surmounting the challenges of our cities and neighbourhoods.  We need more and more governments, and more and more political and administrative leaders, to put their might behind empowering our municipalities and neighbourhood communities.  Through the Janaagraha City Governance Awards we are committed to amplifying such efforts,” said Srikanth Viswanathan, CEO, Janaagraha. 

Online Event Link can be accessed here –      

Facebook - https://www.facebook.com/janaagraha/posts/4022398434439845 

Youtube - https://www.youtube.com/janaagraha 

Winners of 2nd Edition of Janaagraha City Governance Awards              

Best State 

Winner - JAGA Mission, Department of Housing and Urban Development, Government of Odisha 

Ist Runner-Up – Decentralisation of Plan Approvals, Urban Development Department, Government of Maharashtra 

IInd Runner-Up – Geo-spatial Mapping of Urban Properties, Commissioner and Director of Municipal Administration Department, Government of Telangana            

Best Municipality 

Winner – PPP Based Integrated Solid Waste Management, Indore Municipal Corporation 

Ist Runner Up - My City Beautiful City, Thiruvananthapuram Municipal Corporation         

IInd Runner Up - GIS Based Property Tax Administration System, Raipur Municipal Corporation              

Honourable Mention - Zero Waste Initiative, Kollam Municipal Corporation  

Honourable Mention - Decentralised Solid Waste Management, Vellore Municipal Corporation 

Honourable Mention - Decentralised Solid Waste Management, Petlad Municipality 

Best Civic Agency 

Winner – Piped Water Supply Scheme for all Urban Households, Public Health Engineering Organisation, Odisha 

Ist Runner-Up – Municipal E-Governance Project, Punjab Municipal Infrastructure Development Company 

IInd Runner-Up – Integrated Transport Management System, Navi Mumbai Municipal Transport 

Honourable Mention – E-Platform and ERP System, Mussoorie Dehradun Development Authority 

Best State Election Commission 

Winner - E-Voting, Gujarat State Election Commission 

Ist Runner-Up – Bifurcation of Assembly Rolls and Digitisation of Local Body Voter List, Maharashtra State Election Commission  

2nd Runner-Up- E-Election Software, Uttar Pradesh State Election Commission    

Best State Finance Commission 

Winner - Kerala 4th State Finance Commission            

Ist Runner-Up - Bihar 5th State Finance Commission  

IInd Runner-Up - Maharashtra 4th State Finance Commission          

Panel Discussions 

The award ceremony was followed by 3 panel discussions on topics: 

Power to the People: Is a truly empowered City Government possible in India? 

Making Decentralisation work in India: Learning from Successes 

Women Leader’s as Change Agents in India’s Cities 

The panelists consisted of senior Indian and foreign politicians at the center, state and city levels, senior bureaucrats, and inspirational women leaders. 

Janaagraha City Governance Awards  

Janaagraha City Governance Awards are instituted in the memory of Mr V Ramachandran, a doyen of decentralisation, to recognize ground-breaking work in decentralisation in urban context by institutions across government. 

V Ramachandran, a former civil servant, known as the father of democratic decentralisation, set many a precedent with his visionary efforts and contributions in formulating participatory planning practice and Panchayati Raj. He also played a seminal role as a Member of the Second Administrative Reforms Commission in pushing the envelope on administrative reforms in India, and especially on decentralisation to local bodies. He was also a Member of the Governing Board of Janaagraha Centre for Citizenship and Democracy. 

About Janaagraha 

Janaagraha Centre for Citizenship and Democracy is a non-profit trust in the Jana group co-founded by Swati Ramanathan and Ramesh Ramanathan in 2001. Janaagraha's mission is to transform the quality of life in India's cities and towns. It works with citizens to catalyse active citizenship in city neighbourhoods and with governments to institute reforms to city governance (what we call "City-Systems"). 

The "City-Systems" framework is a whole-of-systems approach to solving for India's cities. It comprises four distinct yet interdependent components: Urban Planning and Design (master plans, design standards for public utilities), Urban Capacities and Resources (municipal finance, municipal staffing and technology), Political Leadership (empowerment, legitimacy) and Transparency and Citizen Participation (public disclosures, citizen participation, service level guarantees and grievance redressal). 

Sweet And Sinister – Voot Select Announces New Original, Candy


This year has been extraordinary in terms of content that has been dished out from the web world and some of the biggest shows of 2020 were from Voot Select’s stable. Staying true to its proposition of – Made for stories, the platform showcased content across genres and rolled out exceptional originals that received much appreciation from the audience. Whether it was the never-before confluence of mythology and science in the highly acclaimed Asur, or the entirely remotely & digitally shot The Gone Game or the suave and sleek Crackdown that brought alive the magic of the big screen, Voot Select has just kept raising the bar in terms of delivering top class content. While the excitement and anticipation is already building around the Voot Select’s 2021 line up, it is set to take its content proposition up a notch with its new original Candy.

The newest addition to their list of engrossing thrillers, Candy, a plot thickened with stories of drugs, politics, ambition and murder, is sweet as sin. But is behind these sinister doings-  a man or a beast, no one can tell. Set in a boarding school, in a misty hill town, this Candy is going to be full of action, thrill and a complete jaw breaker. Featuring Richa Chadda and Ronit Roy in the lead roles,  Candy will definitely take the audiences on an adrenaline-charged quest to unwrap the secrets.

Speaking about it, Ronit Roy says, “I’ve been lucky to have had the chance to work with so many talented directors which has helped my learning curve tremendously. With the advent of the digital entertainment era there is so much good work for everyone and so many people are doing such good work it’s heartening and inspiring. I feel immense opportunities exist and will grow further. Im proud have been a part of some fantastic OTT shows and now I am extremely excited and waiting to start work on Candy. Kudos to the entire team of Voot Select for coming up with such a strong concept. My role is complex and challenging, which just makes it all the more interesting. I have a feeling this is going to be a very exciting ride and can’t wait to share this piece with you”

Richa Chadda stated,  “What drew me towards the script was the various dimensions to my role in the show. This thriller/psychological horror space is new for me. Playing characters with depth is something that has always interested me and this was the perfect opportunity. Of course, working with someone like Ronit is very exciting, as this will be the first time that I will be sharing screen space with him as well as other brilliant actors like Nakul Sahdev, Manurishi Chadha. I am also excited to collaborate with director Ashish Shukla, as he was one of the first people I met from the industry, from the beginning of my career”

Along with Ronit Roy and Richa Chadda, the show will also feature Manu Rishi Chadha and Nakul Sehdev in pivotal roles. The series is directed by Ashish R. Shukla and produced by Optimystix Entertainment. 

Candy is slated to release in 2021 on Voot Select.

Paytm Money Disrupts Futures & Options Trading, With Brokerage At Rs. 10 Per Order

 


- Launches F&O trading platform on the App with its Early Access Program

- Product power-packed with best in class features and made simple for new to market investors

- Offers all FNO trades at a competitive pricing of as low as Rs.10

- Aiming at a daily turnover of Rs 1.5 lakh crore & 1 million trades in the next 18-24 months

India's homegrown digital financial services platform Paytm today announced that its wholly-owned subsidiary Paytm Money now provides Futures & Options trading (F&O) on its platform, along with its other offerings - Stocks, Direct Mutual Funds, ETF, IPO, NPS, and Digital Gold. The platform has launched this service with the most competitive brokerage at Rs. 10 for all F&O trades and the low pricing is without any commitments or packages or contracts. This is in line with its intraday charges of Rs.10, and free for delivery. The pricing disruption will benefit experienced as well as first-time traders to seamlessly trade in futures & options with a best in class product, on their mobile and in a secure environment.

Initially, the company is giving early access to a select user base on Android and Web to receive their feedback. Commercial roll out to all traders & iOS launch will be over the next few weeks. With the launch of F&O on its platform, Paytm Money is aiming at an overall daily turnover of Rs 1.5 lakh crore and 1 million trades a day in the next 18 to 24 months.

Paytm Money has ensured that while it provides for all the features required for a derivative trader, it does not complicate the user interface for a simple investor or a newbie trader which is unique in the industry. The charting provides over 180 studies & patterns usually tracked by the pro traders all in an easy to use interface on one's mobile. The price alert feature allows traders to get real-time alerts on any FNO contracts. While Paytm Money provides for various calculators, traders can seamlessly check the required margin while placing an order for any contract. Searching for a contract or option on the platform is a breeze & no specific templates are required for the search or addition to watchlists. The dark & light modes across mobile & web platforms provide convenience to traders who are particular about the background colours & fonts. Tracking orders & execution from the Position page has been made very simplistic & engaging. The product hosted entirely on cloud and developed with Paytm's well-known technology principles will ensure the platform is smooth, fast and can manage very large volumes - an important technology disruption in the wealth management space.

Vijay Shekhar Sharma, Founder & CEO said, "On the mission to bring wealth services to 100 million Indians, the launch of F&O will accelerate our path. This has been made keeping the mobile-first platform in mind. The simple to use low price product is meant to make deep inroads into smaller towns and cities."

Varun Sridhar, CEO - Paytm Money said, "We are very happy to launch a best in class FNO platform with a super-fast experience, simple interface, built on the cloud to ensure stability, advanced charting & features to support high-frequency traders and most importantly making it simple for new traders to buy their first FNO contract. Our pricing of 10 INR flat per order without any contracts/commitments/conditions brings the overall cost of trading significantly lower and makes it super transparent. We are eagerly looking forward to bring thousands of new traders to the markets. With this, Paytm Money is taking one step further to become India’s most comprehensive & #1 digital wealth management platform."

With more than 7 million users, Paytm Money has reached 98% of pin codes in India which truly defines that the app is made for Bharat. Almost 50% of Mutual Funds and Stocks investors on the platform are new to the market and more than 60% hail from tier II, tier III cities. More than 60 million people invest in Digital Gold on Paytm & Paytm Money. Given the limited penetration of stock investments in the country, the company sees a high growth trajectory for its stocks broking offering, similar to its Mutual Fund offerings.

About Paytm Money:

Paytm Money is a wholly-owned subsidiary of One97 Communications that owns and operates Paytm. It is the largest online investment platform in the country, & has now added F&O to its current offerings of Stocks, ETF, IPO, Digital Gold, Direct Mutual Funds & NPS for its users. Paytm Money aims to become a full-stack investment and wealth management platform and bring wealth creation opportunities to millions of Indians. Headquartered and operating from Bengaluru, the team is 300+ member strong.

Sterlite Power Completes Merger Of Subsidiary And Announces Consolidated PAT Of INR 942 Cr For FY 2020

 


Sterlite Power, a leading global power transmission player, has announced the completion of merger of its wholly owned subsidiary Sterlite Power Grid Ventures Ltd. with the parent entity. With this merger, the company further strengthens its position in the marketplace by integrating operations and streamlining the corporate structure. Post the merger, Sterlite Power has announced the audited annual results for Financial Year 2020 recording outstanding growth in revenue and profit. 

Key Financial Highlights 

Consolidated Revenue up by 44% y-o-y at INR 5,158 Cr 

Consolidated EBITDA up by 434% y-o-y at INR 2,406 Cr  

Consolidated Profit After Tax up by 280% y-o-y at INR 942 Cr  

ROCE of 28% 

Sterlite Power is increasingly focused on integrating renewable energy (RE) to the grid and has been awarded vital projects connecting the national grid to clean and green energy. The company has added several Inter-State Transmission System (ISTS) projects to its portfolio in FY20 including the Lakadia-Vadodara Transmission Project Ltd. (LVTPL) which is part of India’s Green Energy Corridor (GEC). The company also commissioned its first project in Brazil (Arcoverde) 28 months ahead of schedule, which was designed to evacuate renewable wind energy. Through its unique asset monetization strategy, the company has realized additional liquidity of INR Rs 2450 Cr from the monetization of three projects in India (NRSS 29, OGPTL and ENICL) and three projects in Brazil (Pampa, Arcoverde and Nova Estado). 

Apart from achieving significant milestones in terms of project wins, execution, and asset monetisation, it has been an exceptional year for the company in terms of prestigious global and national recognitions: 

Winner of ‘Construction Project of the Year’ at the S&P Global Platts Energy Awards 2019 for NRSS-29 project in Kashmir. 

Gold Winner in the mega-sized project category at the IPMA Global Project Excellence Awards 2019 for NRSS-29 project. 

Economic Times (ET) Innovation Awards for Skyrob™ – a semi-autonomous robot developed in-house to ensure safe OPGW stringing under live-line conditions. 

Featured as case studies by India’s premier management institutes: IIM Ahmedabad and ISB Hyderabad. 

Commenting on company’s performance, Mr. Pratik Agarwal, Managing Director, Sterlite Power, said, “We are driven by our core purpose to enable access to reliable power while minimizing the impact on climate change. As the world makes rapid transition towards clean energy, and India targets 450GW of renewable energy by 2030, we will contribute towards this noble cause by creating the required transmission infrastructure so that green energy can reach the most underserved households.” 

As humanity adapts to the new normal defined by the pandemic, access to uninterrupted power has become the lifeline for society and economy.  With the added urgency to avert the bigger crisis of climate change, Governments across the globe have accelerated the transition from fossil fuel to clean energy. In this new era, Sterlite Power is playing a critical role by enabling access to reliable power with an increasing focus on integrating renewables to the grid. 

With its unique asset monetization strategy and strong project execution capabilities, the company has delivered strong financial results. Sterlite Power’s Annual Report 2019-20 can be accessed here. 

About Sterlite Power 

Sterlite Power is a leading global developer of power transmission infrastructure with projects of over 13,700 circuit kms and 26,100 MVA in India and Brazil. With an industry-leading portfolio of power conductors, EHV cables and OPGW, Sterlite Power also offers solutions for upgrading, uprating and strengthening existing networks. The Company has set new benchmarks in the industry by use of cutting-edge technologies and innovative financing. Sterlite Power is the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (“InvIT”), listed on the BSE and NSE. Sterlite Power has been recognised with The Economic Times Innovation Awards 2020 and is a recipient of prestigious global awards from S&P Global Platts and International Project Management Association (IPMA).  

Tata Motors Unveils The TATA ALTROZ iTURBO As It Celebrates The Brand’s 1st Anniversary


Celebrating first anniversary of its premium hatchback, the Altroz, Tata Motors today unveiled the new Altroz iTurbo.  Ready to create another benchmark with new gizmos and the new engine addition, the new Altroz iTurbo will be powered by new 1.2L Petrol iTurbo engine and a new top of the line XZ+ trim which will flaunt all the new and exceptional features. To further enhance the design elements, the Altroz in its 2021 avatar will also sport the new Black and light Grey interiors accentuated with perforated leatherette seats to elaborate on the premium feeling of the cabin. The Altroz will also be equipped with the iRA tech – a connected car technology by Tata Motors. Apart from 27 new and additional features, it also comes with a natural voice tech, through which the car understands and processes voice commands not only in English or Hindi, but also in Hinglish.

Gold Standard of Driving Pleasure: Experience an exhilarating performance of ALTROZ with the powerful engine of iTurbo.

·         1.2 L Turbocharged petrol BS6 engine.

·         Power – 110 PS @ 5500 rpm – A large powerful engine to ensure you never run out of power.

·         Torque - 140 Nm @1500- 5500 rpm - High torque at low rpms to give an enjoyable drive experience.

·         Multi Drive Modes: Sport/ City - New Sport mode in Altroz iTurbo for those who want to experience the thrill of driving.

Altroz iTurbo will be available in XT, XZ and the new top of the line XZ+ variant. The New XZ+ variant will come loaded with features such as:

1.       iRA (Intelligent Real time Assist) - iRA is a smart new connected technology designed to cater to the needs of the Indian customer. iRA has been developed in India for India. The iRA App offers 27 features with 5 layers of connectivity:

·         Natural Voice Tech –

The Altroz is in sync with India and the Indian customer.  Give commands as per your convenience as the system understands – Hindi, English & Hinglish. With more than 70 commands, the Natural Voice tech in ALTROZ ensures an enjoyable drive.

·         What 3 Words-

ALTROZ is India’s first hatchback to introduce this precise & simple way to reach your locations. What 3 Words is a technology that has assigned each 3m square in the world a unique 3 word address. They are easy to say, share and are accurate too. 

2.       Xpress Cool - Helps cabin to reach comfort temperatures quickly by optimally setting the air conditioning to maximum cooling.

3.       Leatherette Seats - High end perforated leather seats that ensures a luxurious drive.

4.       Personalized Wallpaper on your infotainment screen – More personalized driving experience.

5.       One shot up power windows - More convenience during drives.

6.       2 additional tweeters by Harman (Only in iTurbo) – For an enjoyable surround sound experience.

7.       Sport mode (only in iTurbo) – For those who want a thrilling drive experience.

New Color theme

A new Harbour Blue color is available in all variants from Altroz XM+ upwards. Contrast Black roof option is available in XZ and XZ+ variants of Altroz iTurbo. This is accompanied with the New Sporty Black and light Grey interiors to set the right mood during those drives. The new interior color theme will be available in all variants and powertrains of Altroz

Tata Altroz is the first product on the ALFA architecture and has received tremendous response from customers and the industry alike since its launch in January 2020. Month-on-month sales have witnessed an increase and are maintaining a consistent growth trajectory. India’s safest hatchback with a 5 star rating from Global NCAP, has indeed raised the bar and set #TheGoldStandard in safety, design and driving dynamics.

Amazon Launches Its Worldwide New Video Plan - Prime Video Mobile Edition In India

 


Joins hands with Airtel for the first roll-out of Prime Video Mobile Edition, making high quality entertainment accessible to hundreds of millions of Airtel customers

Prime Video Mobile Edition is a single-user mobile-only plan created especially for a mobile-first country like India.

All Airtel customers on pre-paid bundled packs get 30-day free trial of Prime Video Mobile Edition. Subsequently, customers can activate Mobile Edition through recharge bundles starting at an introductory offer of ₹ 89

Accelerating its efforts to increase access to high-quality entertainment for every Indian, Amazon today introduced Prime Video Mobile Edition – a mobile-only plan at an amazing introductory price of ₹89. India becomes the first Amazon Prime country in the world to offer customers a mobile-only Prime Video plan. Powered by affordable data, the ubiquitous smartphone has become the country’s preferred screen for entertainment. Prime Video Mobile Edition is a single-user mobile-only plan, providing SD quality streaming to customers which is created especially for a mobile-first country like India.  Prime Video is collaborating with Bharti Airtel (“Airtel”), India’s premier communications solutions provider, for the first roll-out of Prime Video Mobile Edition.

As part of the Prime Video Mobile Edition launch in India, all Airtel customers on bundled pre-paid packs can avail a 30-day free trial by simply signing up to Amazon from the Airtel Thanks app using their mobile number. After the 30 day-free trial, Airtel customers can continue to enjoy Prime Video Mobile Edition through pre-paid recharges starting at an introductory offer of ₹89, to get 28-days of Prime Video Mobile Edition along with 6GB data or choose a ₹299 pack of 28-day validity that includes Prime Video Mobile Edition along with unlimited calls, data access of 1.5 GB per day.

Customers who want to get the complete Prime Video experience including multi-user access, streaming across devices including Smart TV and the ability to enjoy content in HD/UHD in addition to having access to other Prime benefits including ad-free music with Prime Music and free fast shipping on Amazon.in, will have the option of recharging with a 30-day Amazon Prime membership at ₹131 or recharge with  a ₹349 pack of 28-day validity that includes  Amazon Prime membership along unlimited calling, data access of 2 GB per day.

The recharges will be available on the Airtel Thanks app or at over a million recharge points across the country. These offerings provide unlimited access to Prime Video’s entire entertainment content library and empowers the customer with even more choices and options to access Prime Video.

Talking about the launch, Jay Marine, Vice President, Amazon Prime Video Worldwide, said: "India is one of our fastest growing territories in the world with very high engagement rates. Buoyed by this response, we want to double-down by offering our much-loved entertainment content to an even larger base of Indian customers. Given high mobile broadband penetration in the country, the mobile phone has become one of the most widely used streaming devices. With the launch of Prime Video Mobile Edition we look forward to entertaining every Indian with our Exclusive and Original content.”

Gaurav Gandhi, Director and Country General Manager, Amazon Prime Video India said: “Over the last 4 years, Prime Video has become the country’s most loved premium streaming service with viewership coming from over 4,300 towns and cities. We believe that the Mobile Edition plan will further accelerate Prime Video’s adoption in India and allow an even larger number of customers to access our popular entertainment content. This initiative for Amazon, is designed not just to give customers more choice (of plans) but also easy access to subscribe to Prime Video along with mobile data plans. We are happy to collaborate with Airtel as our first partner in India for Prime Video Mobile Edition."

Shashwat Sharma, Chief Marketing Officer, Bharti Airtel said, “At Airtel, we are deeply passionate about delivering a differentiated experience to our customers through our Airtel Thanks program. We are happy to partner with Amazon to democratize quality digital entertainment in India by leveraging Airtel’s core strengths of quality customers, deep distribution and best-in-class network for video.”

Speaking on the collaboration with Airtel, Sameer Batra, Director, Mobile Business Development, Amazon “We are delighted to have Airtel as our first roll-out partner for Prime Video Mobile Edition. This collaboration marks the deepening of the strategic association between Amazon and Airtel.  Smartphones powered by pre-paid connections and affordable data are ubiquitous to a large base of Indian customers – Mobile Edition will make Prime Video synonymous to quality entertainment for this large customer group. We look forward to expanding the reach of our service to the entire pre-paid customer base in India.”

ABOUT AMAZON PRIME VIDEO

Prime Video is a premium streaming service that offers Prime members a collection of award-winning Amazon Original series, thousands of movies, and TV shows—all with the ease of finding what they love to watch in one place. 

Available On Prime Video: Thousands of TV shows and movies from Hollywood and Bollywood, including Indian produced Amazon Original series such as The Family Man, Mirzapur, Inside Edge and Made In Heaven, and award-winning and critically acclaimed global Amazon Original series including Tom Clancy’s Jack Ryan, The Boys,  and The Marvelous Mrs. Maisel and movies such as Borat Subsequent Moviefilm and My Spy are available for unlimited streaming as part of a Prime membership. Prime Video includes titles available in Hindi, Marathi, Gujarati, Tamil, Telugu, Kannada, Malayalam, Punjabi and Bengali. Find out more at PrimeVideo.com. 

About Bharti Airtel

Headquartered in India, Airtel is a global telecommunications company with operations in 18 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its mobile network covers a population of over two billion people. Airtel is India’s largest integrated telecom provider and the second largest mobile operator in Africa. At the end of September 2020, Airtel had approx. 440 mn customers across its operations. Airtel’s portfolio includes high speed 4G/4.5G mobile broadband, Airtel Xstream Fiber that promises speeds upto 1Gbps, converged digital TV solutions through the Airtel Xstream 4K Hybrid Box, digital payments through Airtel Payments Bank as well as an integrated suite of services across connectivity, collaboration, cloud and security that serves over one million businesses. Airtel’s OTT services include Airtel Thanks app for self-care, Airtel Xstream app for video, Wynk Music for entertainment and Airtel BlueJeans for video conferencing. In addition, Airtel has forged strategic partnerships with hundreds of companies across the world to enable the Airtel platform to deliver an array of consumer and enterprise services.

Clumio Achieves ISO 27701 Certification, First Internationally Recognized Privacy Standard Aligned With GDPR


* Authentic SaaS innovator’s “born in the cloud” design gives company market-leading, proactive compliance advantage

* ISO 27701 regarded as first internationally recognized privacy certification standard

that parallels General Data Protection Regulation (GDPR) requirements

* Clumio has completed five major privacy/security compliance programs in its first

18 months

Clumio™ Inc., innovators of authentic SaaS for enterprise backup, today announced that the company’s secure backup as a service for the enterprise has achieved the ISO 27701:2019 Privacy Information Management System (PIMS) certification. 

ISO 27701 is widely considered to be the first internationally recognized privacy certification standard that parallels the General Data Protection Regulation (GDPR) personal data collection, processing, and protection requirements. This latest privacy certification underscores the company’s commitment to proactive compliance, with Clumio completing five major privacy/security compliance programs in its first 18 months. One of the company’s prime competitive differentiators: Clumio’s cloud-native architecture has allowed the company to “bake” security capabilities into its Software as a Service (SaaS) platform.

“While some companies are cobbling together compliance solutions, Clumio has made it a mission from day one to take a holistic and proactive approach to compliance,” said Glenn Mulvaney, vice president of cloud operations and security, Clumio. “We began our ISO compliance work before we even had a public product, and have worked to stay one step ahead of our audit requirements, compliance reports, and certifications. We started with the correct compliance controls long before we entered the public market, meaning we didn’t have to ‘undo’ poor practices when it came to our product, our employees, and our processes. We built our platform and our organization to conform to key industry privacy and security standards from the start.”

Clumio was born in the public cloud, leveraging the most modern cloud capabilities - including more than 10 major AWS services - to ensure it meets and exceeds the backup, privacy, and security requirements of today’s most demanding enterprises. Clumio recognizes that compliance and security are not interchangeable. As a result, information security best practices are built into the product architecture. Clumio’s authentic SaaS backup protects workloads such as  VMware / VMware Cloud on AWS, Amazon Web Services (EC2/RDS/EBS), and Microsoft M365. As a SaaS platform, Clumio has built upon AWS physical and environmental compliance controls. Companies that use Clumio can be assured that their compliance requirements for data protection are satisfied. 

Although there is no official GDPR checklist or certification, Clumio’s platform is built on ISO information security and privacy management system standards that also align with GDPR. This privacy-related certification confirms that Clumio’s product offerings contain processes and operations that have been validated through independent testing and support compliance with privacy laws and legislation, including GDPR and the California Consumer Privacy Act (CCPA). 

Clumio Access Management

In addition to achieving the ISO 27701 certification, Clumio recently announced Clumio Access Management, a new set of secure access management capabilities designed to provide corporate IT with more granular department and role-based access controls. Clumio Access Management encompasses authorization and authentication best practices that allow enterprise IT teams to provision by organizational unit, ensuring the right people have the right access to do their jobs. 

Clumio Access Management delivers:

A simplified experience: Easily configure asset/inventory grouping criteria for department administrators in organizational units. Any future assets that get added to the grouping criteria (such as Accounts for AWS or VMFolder for VMware) get assigned to the department administrator in that organizational unit automatically.

Zero trust security: Corporate IT teams in large enterprises or Managed Service Providers no longer need to have credentials of all data sources. They can add their department administrators or tenants respectively and then these administrators can add their respective data sources and ensure that visibility is restricted to their own department.

Contextual navigation: Corporate IT teams can easily change the context and “view” everything as the department administrator. This helps both teams resolve issues very quickly.

Consistent data protection: Corporate IT teams can create reference policies that department administrators can use to protect their assets. They cannot modify such policies, but they can use this policy to provide consistent data protection across different data sources.

This first phase of Clumio Access Management is available now. Future updates to Clumio Access Management will include the ability to create custom and/or pre-defined roles to allow select administrators to manage the actions that organizational unit administrators can perform in the Clumio portal.

Learn More About Protecting Enterprise Workloads in an Era of Growing Cyber Attacks

Join Clumio, along with a panel of security and data protection experts, to discuss the risk of cyber-attacks, ransomware, and data loss during its upcoming Clumio Cloud Data Protection Summit on Jan. 13, 2021. Attendees will learn how and why having a multi-layered data protection approach is critical to an enterprise’s overall information security strategy. The summit will cover IT challenges facing today’s modern cloud era as well as best practices for protecting your organization’s data.

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