First Advantage Releases 2022 India Employment Screening Trends Report

* BFSI Sector Shows Major Discrepancy Trends in Q1-22

First Advantage Corporation (NASDAQ: FA), a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, announced the publication of its India Employment Screening Trends Report, which is a compilation of anonymized data and analytics from the Company’s background screenings performed for its customers in the India market in Q1-22.

In Q1-22, such as banking, financial services, and insurance (BFSI), Retail, and Telecom showed substantially greater discrepancy percentages than the overall average of 9.6 percent.

Other notable findings include:

·         BFSI and retail industries experienced greater differences in discrepancy percentage.

·         Out of every 100 employment checks verified in the BFSI sector, 19 were discrepant in Q1-22.

·         For Employment Verifications, IT, BFSI, and Consulting sectors have shown higher inclination towards alternate modes of verification.

"With the popularity of remote work, businesses are looking beyond macro trends like the need to manage company risk and assure compliance in the recruiting process and are focusing on micro-trends like continuing criminal records check and social media screening.” Amit Singh, Head of Commercial at First Advantage said.

Further, he continued, “As we continue to plan and execute our FA strategy, our vision is to enable our customers to hire smarter and onboard faster with advanced product and technology roadmaps.”

About First Advantage:

First Advantage (NASDAQ: FA) is a leading global provider of technology solutions for screening, verifications, safety, and compliance related to human capital. The Company delivers innovative solutions and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology, First Advantage’s products and solutions help companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of its more than 33,000 customers. For more information about First Advantage, visit the Company’s website at https://fadv.com/. 

Happiest Minds Purchases 2.4 Lakh Sq.ft Office Space At Electronic City, Bengaluru

Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital. Born Agile’ company, today announced that it has purchased a Grade A, fully built up ready to use commercial property with a super built area of 240,000 Sq.Ft in Bengaluru for a consideration of ?101 Crores. The facility with a seating capacity of 1,600 seats is in the technology hub of Electronics City.

Speaking on the purchase, Mr Venkatraman Narayanan, MD & CFO said “Financially, the purchase is funded substantially through borrowings from banks at very favorable terms. The transaction is positive from a P&L perspective while adding a significant asset to our balance sheet. We have structured repayments in a manner such that cash flows are neutral in the medium and positive in the long term”

The facility enhances the Company’s seating capacity in Bangalore by about 30% and is in-line with expansion plans and objective of strengthening delivery capabilities across existing and newer locations like Bhubaneshwar.

About Happiest Minds Technologies:

Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. We do this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/augmented reality, etc. Positioned as ‘Born Digital. Born Agile’, our capabilities span digital solutions, infrastructure, product engineering and security. We deliver these services across industry sectors such as automotive, BFSI, consumer packaged goods, e-commerce, edutech, engineering R&D, hi-tech, manufacturing, retail, and travel/transportation/hospitality.

A Great Place to Work-Certified™ company, Happiest Minds is headquartered in Bangalore, India with operations in the U.S., the UK, Canada, Australia, and the Middle East.

Preventive Tips To How To Beat Dehydration Throughout The Year

Many great poets have lauded the splendor of the changing seasons — the gleaming sunshine in the summer, chilly and peaceful evenings in the winter, and the pitter-patter of raindrops during monsoon. Fortunately, they were spared the kind of climate change and global warming crisis that we are currently experiencing.

While we cocoon ourselves in air-conditioned bubbles, make sorbets with overpriced limes, search for a sunscreen with the right SPF, and wait for the government to solve the coal shortage that is disrupting the electricity supply in many parts of the country, the most important thing we can do right now is taking care of our health and keeping ourselves hydrated.

According to experts, ignoring the symptoms of dehydration can lead to serious medical problems. Water makes up one-third of a person's body. The equilibrium of water and salt is disrupted in dry and humid weather due to heavy sweating. As a result, the body requires extra water to maintain a normal body temperature. When the body is dehydrated, the symptoms include: feeling thirsty, dark yellow and strong-smelling pee, feeling dizzy or lightheaded, feeling tired, having a dry mouth, lips and eyes, decreased urination - fewer than 4 times a day, according to NHS.

Tips to beat dehydration caused by the changing weather:

1.      Load your dish with hydrating fruits and vegetables:

Hydrating fruits and vegetables are ideal for combating dehydration on your plate. Water is abundant in the fruits and vegetables accessible to us throughout the year. Peaches, watermelons, strawberries, pineapples, and cantaloupe are examples of water-rich fruits. Celery, tomatoes, radishes, and cucumbers are all water-rich veggies that you should eat. Replacing oily and spicy food with water-rich fruits and vegetables throughout the day is the greatest method to avoid dehydration.

2.      Recharge with Electrolytes:

Most people go for a fruit juice or an energy drink when their bodies are dehydrated believing that it would suffice. However, they don't realize that they're losing essential body salts and fluids that no fruit drink can replace. A drink that rehydrates, recharges, and allows us to continue with ease is the need of the hour. Dehydration is treated with oral rehydration solution beverages. Fruitnik Electro+ by OTC major Amrutanjan Health Care is effective at this since it aids in the recovery of salts and fluids lost as a result of exertion or dehydration. It includes the appropriate mix of sugar, glucose, Sodium, and potassium, as well as the ability to help the body replace lost fluids. Fruitnik Electro+ is a natural apple fruit drink that enhances energy, replaces electrolytes, and delivers Vitamin C. This makes it suitable for recovering from dehydration due to exertion, heat stress and sporting activities. In rural areas, the free ORS solution or medical therapy at any government health center can be obtained to combat dehydration.

3.      Replace sodas with fruit juices:

If you think a can of soft drink or soda will quench your thirst, then you couldn’t be more wrong. When it comes to hydration, soda, coffee, booze, and tea are useless. In fact, they can deplete your body's water supply.  As a result, it is advised to avoid these beverages throughout the year. Try flavored water or fruit juices like Fruitnik from the house of Amrutanjan Health Care to make your drink exciting and refreshing. Fruitnik juice that comes in the flavours of Mango and Apple is packed with natural fruit goodness containing anti-oxidants, minerals and vitamins that are essential to staying hydrated in the scorching heat.

4.      Avoid Alcohol: Alcohol acts as a diuretic. It causes your body to remove fluids from your blood much faster than other liquids through your renal system, which includes the kidneys, ureters, and bladder. If you don't drink enough water while consuming alcohol, you can quickly become dehydrated. It is advised to avoid or reduce alcohol intake to keep yourself hydrated throughout all seasons.

5.      Stay hydrated: Water is irreplaceable. If you exercise, it is critical that you increase your water intake twofold. At least four hours before your workout, drink plenty of water. While exercising, hydrate yourself every 10-15 minutes. Drink 1.5 liters of water by 2 p.m., even if you're not thirsty. Dehydration is frequently indicated by a thirsty feeling. Carry a water bottle with you at all times so that you have easy access to water. You can also use an app to remind you to drink more water.

L&T Technology Services Reports Strong 23% Growth In Q1FY23

* Q1 Revenue of  Rs 1,874 crore, up 23% YoY

* Q1 Net profit of Rs 274 crore, up 27% YoY

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the first quarter ended June 30, 2022.

Highlights for Q1FY23 include:

·         Revenue at Rs 18,737 million; growth of 23% YoY

·         USD Revenue at $239.5 million; growth of 20% YoY in constant currency

·         EBIT margin at 18.3%; up 100 bps YoY

·         Net profit at Rs 2,742 million; growth of 27% YoY

During the quarter, LTTS won a USD 50 million plus deal, four USD 15 million deals and two deals with TCV of USD 10 million.

“We started the new fiscal on a strong note with revenue growing sequentially by 4.7% in constant currency. Growth was led by Plant Engineering and Industrial Products, benefitting from spends towards digital manufacturing, energy transition and smart & connected products. Our big bets focus has helped us to align ourselves with these strategic and multi-year customer programs.

Deal wins were very strong during the quarter and spread across segments. Our Aerospace and Rail segment is seeing a revival of large deal bookings with a USD 50 million deal in Q1 on the back of a stellar long-term deal that we won in the prior quarter. We recently opened an engineering design center in Toulouse, France to cater to new age digital requirements of Aerospace.

We see a broad-based pipeline of opportunities which gives us confidence of the growth momentum sustaining,” said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.

Awards & Recognitions:

·         Recognized as a Great Place to Work® for its best practices across India

·         LTTS has been positioned as a ‘Leader’ in all 5 quadrants for the North America market in the 2022 ISG Provider Lens™ Digital Engineering Services report.

·         LTTS wins Golden Peacock Corporate Social Responsibility Award

·         LTTS’ Chest-rAITM solution recognized as an “Innovator” by NASSCOM in their AI GameChangers Awards 2022

·         HfS Research recognized LTTS among the Top 10 Industry 4.0 Service Providers

·         LTTS recognized as a ‘Leader’ in Everest Group’s Digital Product Engineering Services PEAK Matrix® Assessment 2022

Patents

At the end of Q1FY23, the patents portfolio of L&T Technology Services stood at 913, out of which 625 are co-authored with its customers and the rest are filed by LTTS.

Human Resources

At the end of Q1FY23, LTTS’ employee strength stood at 21,433.

About L&T Technology Services Ltd

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 21,400 employees spread across 19 global design centers, 28 global sales offices and 89 innovation labs as of June 30, 2022. For more information, visit https://www.ltts.com/

CoinSwitch, Startup Karnataka Announce Blockchain Hackathon, “Building Future Cities”

* The hackathon will be held in Bengaluru from August 5 to August 6.

* Registrations are open at https://skillenza.com/challenge/24-hr-hackathon-by-coinswitch

CoinSwitch, India’s leading Crypto investing app, in association with Startup Karnataka, a Karnataka Government initiative, and Tejasvi Surya, Member of Parliament (Bangalore South), is organizing a blockchain hackathon, Building Future Cities, to recognize and stimulate blockchain-based solutions to everyday problems faced by India’s 1.2 billion people. The hackathon is also supported by Sequoia India.

Centered around the themes of Smart City, Digital Governance, and Supply Chain, Building Future Cities aims to kickstart a Web3 innovation cycle tailored and customized for India.

The hackathon will challenge participants to envision a blockchain-powered India, with a focus on smart mobility, energy credits and trading, decentralized waste management, secure digital identity and certificate management, efficient and transparent vaccine distribution, and farm supplies and supply chain management.

The winners will be rewarded with a prize money of Rs 3 lakh, with the total prize pool of the hackathon set at Rs 6 lakh. Participants can enter the competition individually or in a team of up to 4 members.

“Karnataka is the torchbearer of Digital India. The state has an excellent track record of close collaboration between the government and entrepreneurs. This hackathon enables to Karnataka to carry this success story to the next frontier of technology—blockchain—and empowers young innovators to utilize the power of blockchain for public good,” said Dr. Ashwathnarayan C. N, Minister for Higher Education; IT & BT, Science & Technology; Skill Development, Entrepreneurship & Livelihood.

“The world is looking up to India. Under the able leadership of Honorable Prime Minister Narendra Modi, India has brought about a digital revolution that has touched every corner of this country. We are now ready for the next big technological leap, to build a blockchain-powered India. I am delighted to partner with CoinSwitch for a first-of-its-kind blockchain hackathon and sow the seeds of India’s future in Bengaluru,” said Tejasvi Surya, Member of Parliament, Bangalore South.

“Blockchain is a powerful technology that will reshape every facet of our life. Building Future Cities blockchain hackathon is our effort to kickstart an innovation cycle in India for India, by equipping and enabling India’s strong pool of developers and innovators. At CoinSwitch, we have always believed that India will be the launchpad of a Web3 world. The hackathon is a step to realize this goal. I am excited to see what the young and smart minds of India bring to the table,” said Ashish Singhal, Co-Founder and CEO, CoinSwitch.

Lobb Launches Multi Lingual Call Centre Facilities For Truckers

Lobb today announced a multi-lingual call centre to facilitate their growing truckers who use their services through the application. Initially to start with this will be in  Kannada, Tamil, Telugu, Hindi & English. The challenge is that large truckers are not so literate hence they take the help of family and friends to use the application. Lobb also plans to add more languages going forward.   LOBB is a Bangalore based technology startup founded in 2015, with a mission to work with the next billion netizens & Digitally Disrupt Logistics, founded by techno-domain experts Jayarama Raju and Venu Kondur.

Making his statement on this initiative Venu Kondur CEO & Co-Founder Lobb said, “India is a diverse nation with multiple languages. To facilitate the user with an experience which makes him comfortable we have introduced this feature which works very simple. When the caller calls he will be asked to choose a language and further conversation will happen in the chosen mode”. He went on to add, “We want to make the technology to be embraced by users & it must not be a deterrent just because of a language”. 

Lobb has created a marketplace that connects transporters with truckers in a seamless way to ensure a national level supply demand matching considering the nuances of the trade. In India large fleet hubs are located in Namakkal (TN), Vijaywada (AP) & Ambala (Punjab) 

Indian logistics industry has over 10 million long haul trucks, most of them owned by small truck owners struggling to find the right loads on time. Lobb aims to empower them through its proprietary Truck Discovery Model, by creating a unique network of fleet, routes and nodes aligned to demand - supply and move to machine based matching engine. 

Lobb has AI based platform that is poised to disrupt long haul intercity logistics. Their primary focus in the near term is India which is a hugely fragmented market. India’s long-haul intercity logistics is approx. US $100B. Lobb’s proprietary platform is transforming the industry with its deep intelligence engine and is delivering substantial benefits to all the key players in the market including transporters and truckers. 

Lobb aims to increase truck utilization for truckers by way of reducing halting and through digital payments, resulting in increasing truckers’ revenue by 30%.  At present Lobb is operational in 18 major industrial hubs covering across PAN India. Today it works with 900 plus logistic companies along with more than 5000 truckers and 20,000 fleets. 

Issued by Social Amplifiers Bengaluru 

The First-Ever BMW G 310 RR Launched In Indian Market

* Get ready for the racetrack with extreme sportiness.

* Full fairing design with unmatched agility and precise handling.

* Unparalleled combination of modern technology with RR genes.

* #RevealYourRacingAttitude #NeverStopChallenging #MakeLifeARide #BMWG310RR #G310RR #BMWMotorradIndia #BMWMotorrad

BMW Motorrad India launched the first-ever BMW G 310 RR in India today. India is the first country to welcome the third and latest member of highly successful BMW 310 model series. The bike is available at BMW Motorrad India dealerships from today onwards.

The BMW G 310 RR has been jointly developed by BMW Motorrad and cooperation partner TVS Motor Company. The BMW G 310 RR is locally produced in India along with BMW G 310 R and G 310 GS by TVS Motor Company in Hosur.

Mr. Markus Mueller-Zambre, Head of Region Asia, China, Pacific & Africa at BMW Motorrad said, “In just under five years, the G 310 R and G 310 GS have become immensely popular and are in high demand all over the world. The introduction of a third member further diversifies the G 310 range with R - a roadster, GS – an adventure bike and now the first-ever BMW G 310 RR - a true road racing sports bike. The BMW G 310 RR’s performance, agility, precision and raring-to-go flair reveals racing attitude. We are glad to launch it first in India which is one of the fastest growing markets for BMW Motorrad.”

Mr. Vikram Pawah, President, BMW Group India said, “The first-ever BMW G 310 RR is the sportiest and most desirable sports bike in the sub-500 class. This bike proudly inherits the original road racing genes that have fascinated sports bike enthusiasts with unlimited adrenaline rush on tarmac. With the combination of a stunning superbike design and modern technology, it is an ultimate riding machine - your best companion on racetracks and city roads alike. With the RR, you never stop challenging.”

The first-ever BMW G 310 RR will be offered in two variants. The ex-showroom prices are as follows:

The BMW G 310 RR                              -           INR 285,000

The BMW G 310 RR Style Sport           -             INR 299,000

*Prices prevailing at the time of invoicing will be applicable. Delivery will be made ex-showroom. Ex-showroom price (inclusive of GST and compensation cess) as applicable but excludes Road Tax, RTO statutory taxes/fees, other local tax / cess levies and insurance. Prices and options are subject to change without prior notice. For further information, please contact your local authorized BMW Motorrad Dealer.

The new BMW G 310 RR has been launched in two colors – The standard Black storm metallic paintwork emphasizes the dynamic overall appearance. The other option is the Style Sport in Light White Uni, Racing Blue Metallic and Racing Red Uni colors.

The G 310 RR inherits the DNA of the S 1000 RR and will be the entrance to the BMW Motorrad sport bikes family. Nimble and agile in the city, confident and powerful on the road. 

For ease of ownership, BMW India Financial Services is offering a complete package to own the first-ever BMW 310 RR. Benefits include low down payment, monthly payment starting INR 3,999 and the option to fund insurance and accessories.

For complete peace of mind, BMW Motorrad bikes come with a standard warranty for three years, unlimited kilometres. The warranty can be extended to fourth and fifth year at an attractive cost. Road-Side Assistance, a 24x7 365 days package further ensures prompt services in case of breakdown and towing situations.

The BMW G 310 RR

The BMW G 310 RR’s aerodynamic design makes an extremely sporty appearance with its road racing DNA: full fairing and RR branding/graphics. Its uncompromising superbike design and motorsport colours make a clear classification in the road-race segment.

The aerodynamic design is optimized by the full fairing, intelligent dimensions as well as lighter materials that work together to offer agile and precise handling. Thanks to the Ram Air intake, the oncoming air flow is ideally used, and the gill vents ensure that the hot air is channelled away from the engine. The bike has an aggressive and sharp face with full-led headlights, large transparent visor and pure-black handlebars. The entire fly line is front-wheel oriented. The dynamic front, tank-hugging seating position and a pulled-up short rear visually underline closeness to the racetrack.

New high-end details such as the standard gold upside-down fork, aluminum swingarm, handlebars with controls and excellent workmanship reflect the finest within the segment and underscore the stable wheel control with sensitive and precise feedback. The standard Michelin Pilot Street radial tyres fit perfectly with the character by providing ample grip and control.

The first-ever BMW G 310 RR is fitted with a water-cooled single-cylinder four-stroke 313-cc engine with electronic fuel injection. The engine achieves a maximum power of 25kW at 9,700 rpm as well as maximum torque of 27.3 NM at 7,700 rpm. The motorcycle accelerates from 0 – 60 km/hr in just 2.9 seconds.

The 6-speed gearbox allows ease of engagement of gear and no slippage at higher speeds for precise shifts and launches. The race tuned anti-hopping clutch with self-reinforcement reduces engine braking and significantly increases riding safety - especially during braking manoeuvres with simultaneous downshifts. It also offers reduced operating force at clutch lever.

For ideal adaptation to varied conditions, the 310 RR is fitted with four modes as standard - Track, Urban, Rain and Sport. The Track mode is focussed from acceleration to braking where the ABS is adjusted for late braking into bends.  Urban mode has balanced acceleration and braking behaviour as the ABS and throttle response are geared towards urban traffic. Sport mode delivers best possible acceleration and maximum deceleration values – with sporty dynamics. Rain mode is paired with Ride by Wire and the ABS reacts highly sensitively to guarantee riding safety and stability control on wet roads.

Ride by Wire system along with E-Gas passes on the commands directly from a sensor on the twist grip to the engine control system resulting in even finer control and throttle response. Thanks to the electromotive throttle controller, automatic idle speed increase when starting also prevents a possible sudden stalling of the engine.

The suspension has a torsionally stiff, highly robust tubular steel frame in grid structure with bolt-on rear frame. The front wheel suspension is taken care of by a solid upside-down fork while at the rear there is an aluminium swinging arm in conjunction with a directly mounted spring strut. The suspension geometry is designed for easy handling, stability and a neutral cornering response, which makes for an active riding character and maximum riding fun.

The new multifunctional 5” TFT display boasts of a very good level of functionality that is synonymous with high-speed riding. Its intuitive framework, high-resolution and clear graphics provide all required information to the rider in an easy-to-understand format. It shows essentials like riding statistics, riding modes, maximum speed, deceleration, temperature etc.

The Infotainment Control Switch offers perfect operability of functions to change the desired modes or views. Depending on the riding mode, the TFT display also customizes the screen with relevant information.

The high-performance brake system with 2-channel Anti-lock Braking System (ABS) ensures efficient deceleration and short braking distances. BMW Motorrad ABS prevents the wheels from locking and rear wheel lift-off protection keeps the race bike's wheels on the track, even when braking late into corners.

Photo Caption: (L – R) - Mr. Markus Mueller-Zambre (Head of Region Asia, China, Pacific & Africa at BMW Motorrad), Mr. Stephan Reiff (Vice President - Customer, Brand, Sales, BMW Motorrad) and Mr. Vikram Pawah (President, BMW Group India).

5ire Raises USD 100 Million In Series A Funding At Valuation USD 1.5 Billion; Turns Unicorn

* 5ire, has received funding from UK-based conglomerate SRAM & MRAM to become the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world.

* Brainchild of India-origin founders, Pratik Gauri and Prateek Dwivedi

5ire, a fifth generation level 1 blockchain network and the world’s first and only sustainable blockchain, today announced that it has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM. This investment makes 5ire the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world, valued at $1.5 billion. 5ire was founded by Indian-origin entrepreneurs, Pratik Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila, in August 2021.

The funds raised will be used for business expansion and extending 5ire’s footprint across three continents including Asia, North America and Europe, with India as the hub of operations and core area of focus. 5ire will continue to invest in strengthening its blockchain further and work towards ensuring this decentralised technology benefits a larger base globally. Additionally, 5ire aims to hire the best talent in the industry across functions like product, engineering, marketing etc.

5ire had earlier raised a funding of $21 million in its seed round at a valuation of $110 million with participation from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, and amongst many other investors. 

Speaking on the occasion, Dr Sailesh Lachu Hiranandani, Chairman of the SRAM & MRAM group, said, “We have great confidence in moving forward with investments in sustainable technologies. As a scientist, I have always believed in finding better ways to do things, and 5ire is committed to finding solutions for the 17 UN Sustainability Development Goals. We are assured in the abilities of the leadership team at 5ire and wish them all the very best.”

Pratik Gauri, CEO and Founder of 5ire said, “We are on a mission to embed sustainability into blockchain and shift the current paradigm from ‘for-profit’ to ‘for-benefit’. The 5ire team has worked round-the-clock to develop a platform that combines both technology and processes for the benefit of humankind. Becoming the world’s first and only sustainable unicorn born out of India, in just 11 months, is testimony that we are on the right path. We are humbled by the trust shown in 5ire by the SRAM & MRAM group and thrilled to find a partner who also wants to promote the transition of the world from the 4th Industrial Revolution to the 5th Industrial Revolution.”

5ire is a blockchain ecosystem that brings forth Sustainability, Technology & Innovation to build the 5th industrial revolution (5IR). The mission of the 5ire ecosystem is to embed the for-benefit paradigm at the heart of blockchain, by highly incentivizing practices that align with the United Nations Sustainable Development Goals (SDGs), therefore facilitating the transition from the 4IR to 5IR. 5ire empowers decentralized autonomous organizations (DAOs) and working groups to help accelerate the implementation of the UN’s 17 SDG goals. It assures openness, unity of purpose, and inclusivity. Thus, shaping the ethics of business and collaborations toward sustainability while providing a cross-chain environment as well as advanced governance and rewarding mechanisms for participants.

About 5ire:

5ire is a blockchain ecosystem that focuses on sustainability, technology and innovation to build the 5th industrial revolution (5IR). Founded by blockchain proponents Pratik Gauri, Prateek Dwivedi and Vilma Mattila in August 2021, the missions of the 5ire ecosystem are to embed a for-benefit paradigm at the heart of blockchain, highly incentivise practices that align with the United Nations Sustainable Development Goals (SDGs), facilitate the transition from the 4IR to 5IR, and accelerate the implementation of the UN 2030 Agenda for Sustainable Development. The company’s primary offering is 5ireChain, a first layer, sustainability-driven 5th generation blockchain that ensures adherence to the philosophy of 5IR, creating a net positive impact on the planet and service humanity. For further information, visit its website at https://www.5ire.org .

About SRAM & MRAM Group:

SRAM & MRAM Group is the brainchild of Dr. Sailesh Lachu Hiranandani, and founded in 1995. Chairman Dr. Sailesh Lachu Hiranandani, holds a Ph.D in Financial Management from UK, is a visionary with a steadfast background in Financial and Risk management in Hedge Funds and Forex Managements. His career started with commodity trading in India and Cambodia and gradually entered FX hedging and rollovers from Tokyo, Hongkong and Singapore. During this time, the world currency markets were rapidly fluctuating and he wanted a reliable system to manage the USD against GBP, EURO and JPY. This led to his acquiring considerable skills in both Financial and the Information Technology market.

Assisted by an able team of Information Technology and Forex associates,  he set up what is today, after two decades, a global conglomerate with 8 international alliances, 10 companies,5 continents, 35+ locations, 300+ employees with a sales turnaround of USD 800 Million (FY 2017-2018). The corporation is headquartered in Edinburgh, United Kingdom with branch offices in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh. For further information, visit https://srammram.com.

Tata STRIVE Impacts Over One Million Individuals Across Indian Market

1.5 lakh skilled for employment in the formal sector

1.3 lakh livelihoods enabled in the informal sector

650 entrepreneurs developed

6,000 trainers certified by Tata STRIVE have skilled over 6.5 lakh learners

Tata STRIVE, a skill development initiative of Tata Trusts, today, on World Youth Skills Day, announced that it has, since 2015, touched the lives of over one million individuals. Among them, 1.5 lakh were skilled for employment in the formal sector, 1.3 lakh livelihoods were enabled in the informal sector, and 650 individuals were developed as entrepreneurs. Besides, 6,000 trainers, certified by Tata STRIVE, have skilled over 6.5 lakh learners.

Tata STRIVE brings to its learners, job-oriented courses created along with industry leaders, such as IKEA, Schneider Electric, L’Oréal India, Sahyadri Farms, Indian Hotels Company Limited (IHCL), Tata Communications, Voltas, Tata Capital, and others. Many experts from these partners also engage as guest faculty. Companies are involved across the value chain - as knowledge, funding, placement, and infrastructure partners.

Tata STRIVE’s skill development centres range from large multi-skilling centres to sector-specific smaller centres, as well as colleges and ITIs. Classrooms and training labs come with best-in-class equipment and the faculty are specially trained to deploy the unique Tata STRIVE pedagogy and methodologies while teaching.

Partnerships with the Government of India and several State Governments have ensured that Tata STRIVE’s offerings reach individuals from varied backgrounds, at scale. As an outcome-oriented organisation, driving counselling, employment and entrepreneurship, Tata STRIVE has created multiple solutions to deliver high quality training, relevant to youth, in a scalable model targeted at the bottom of pyramid.

Highlighting the importance of quality skilling programmes for the youth on World Youth Skills Day, Ms. Anita Rajan, CEO of Tata STRIVE said, “India’s future belongs to its youth. Our economic growth is throwing up immense possibilities for young people. Driving awareness and providing the skills for them to participate and benefit from these opportunities is our goal. I’m elated to see the rewards of our efforts and the immense support of our partners. I hope that we continue shaping the nation’s future. On World Youth Skill Day, I’d like to remind our youngsters the importance of a versatile skill set as the means of fulfilling their ambition.”                                                 

To celebrate this achievement, Tata STRIVE has deployed a digital campaign – One in a Million – celebrating the stories of its learners. The campaign lays emphasis on individuals who have been skilled at Tata STRIVE. It recounts the story of One-in-a-Million, Amit Dere, who even after two unsuccessful job stints and a failed business, took up the skills training programme at Tata STRIVE and now, runs a successful business. The campaign urges the youth to realise the importance of a versatile skill set as a means of fulfilling their ambition. It is live here: https://bit.ly/3bV94Vs

Jaguar TCS FIA Formula Racing Aiming For Fairytale Of New York

* Jaguar TCS Racing head to the streets of Brooklyn with their sights set on another successful double-header weekend

* With the 2022 ABB FIA Formula E World Championship entering the final phase of the season in three iconic city locations, the British racing team aim to deliver a strong haul of points starting in New York

* After his fifth podium of the season in Marrakesh, Mitch Evans sits fourth in the drivers’ standings

* The challenging Red Hook circuit has been a happy hunting ground for Sam Bird who won in New York last year adding to his success in the Big Apple

* Lights go green in New York at 13:00 EDT on 16 and 17 July 2022

Jaguar TCS Racing will return to electrify the streets of Brooklyn for the eleventh and twelfth rounds of the 2022 ABB FIA Formula E World Championship this weekend.

Jaguar TCS Racing’s driver line-up have seen success in New York previously with Mitch Evans scoring a podium finish in 2019 and Sam Bird storming to victory from pole position last year in Brooklyn, his third victory in New York.

The New York City E-Prix hosts one of the shorter tracks at just 2.3 km long but with sharp, tight corners, walls either side and varying tarmac and camber, it provides an exciting challenge for the team.

Jaguar TCS Racing are fourth in the teams’ standings with 156 points while in the drivers’ standings, Mitch Evans is fourth just fifteen points behind the leader and Sam Bird is twelfth.

James Barclay, Jaguar TCS Racing Team Principal: “The New York City E-Prix is a real Formula E street circuit in one of the most iconic cities in the world. In the past it has seen thrilling racing and an excellent spectacle for the fans. As a team we enjoy racing stateside and we have seen success in the past with a brilliant comeback win from Sam last year and a podium finish for Mitch in 2019. The streets of Brooklyn provide a unique challenge for all teams but we’re looking forward to returning to the track and we are hard at work to try and deliver another strong points haul.”

Mitch Evans, Jaguar TCS Racing driver #9: “New York is one of my favourite tracks on the race calendar. We’ve achieved some great results here and seen some incredible racing action. Last year a very late brush with the wall compromised what was looking to be a really strong result. This year I’m coming back even more focused and determined to push for a podium result again. The championship fight is on, so we need to maximise every opportunity.”

Sam Bird, Jaguar TCS Racing driver #10: “I’m really excited to head back to New York; it’s a circuit I’ve performed really well at in the past with three wins in total including last year. It’s always a demanding weekend in New York but I’m looking forward to the challenge and hopefully another strong result for the team.”

Phil Charles, Jaguar TCS Racing Technical Manager: “The New York City E-Prix takes place on a prime example of a street track. It has a plethora of tight and twisty sections where the walls are ready to catch you out if you make any small error. On top of that, being that it's not a permanent venue, there is significant track evolution throughout the race weekend. You need to push pretty much right from the off if you want to be really in the groove by the time of qualifying where the brave are rewarded. The races normally give plenty of excitement too with lots of overtaking and batteries nearing their temperature limit towards the end.”

Rounds eleven and twelve of the 2022 ABB FIA Formula E World Championship will take place on Saturday 16 July and Sunday 17 July at 13:00 EDT.

Toyota Kirloskar Motor, GTTC Signs MoU For Automotive Skill Development Based On National Apprenticeship Promotion Scheme

* A collective effort by Toyota Kirloskar Motor and Government Toolroom and Training Centre to contribute to “Make in India” and “Skill India” mission

Reiterating its commitment to India’s vision of achieving self-reliance through ‘Make in India’ and ‘Skill India’, Toyota Kirloskar Motor (TKM), today, announced the signing of an MoU with Government Toolroom and Training Center (GTTC). Aimed at providing students with extensive industry level training and generating higher job opportunities for the young India, this new milestone strengthens the company’s goal of creating a world-class skill pool in the Indian auto industry. 

The MoU was exchanged between Mr. H. Raghvendra, Managing Director, GTTC and Mr. G. Shankara, Vice President, HR, and Services, TKM, in the presence of Hon’ble Chief Minister, Karnataka Mr. Basavaraj Bommai and Dr. C. N. Ashwath Narayan, Hon’ble Minister of Higher Education, IT & BT, Science & Technology, Skill Development, Entrepreneurship & Livelihood Government of Karnataka.

Quality products and services stems from developing world-class skilled manpower and the objective is not only to manufacture safe and ecofriendly vehicles, but to also build a skilled workforce to contribute to the betterment of the whole society.

In this direction, this initiative will assist the trainees to acquire skillsets that are relevant to the manufacturing industry and to improve their employment potential through a ‘Learn and Earn’ approach comprising of theoretical and On-the-Job training. The course duration consists of, one month of theoretical training followed by industry based On Job Training (OJT) for 21 months wherein the apprentice will get stipend during their OJT.

Talking about the initiative, Mr. G. Shankara , Vice President HR Services, TKM said, ”As we collaborate with GTTC, we further aim to  strengthen “Skill India Mission” by ensuring the students gets to learn and practice thereby enhancing the availability of skilled manpower. While the industry is developing at a rapid pace, there is a dire need of right skillset, knowledge, and attitude. To achieve this challenge, together with GTTC we are bridging the gap by providing the students with right skills and developing them into employable youths.”

On this occasion, Mr. H. Raghvendra, Managing Director, GTTC, said, “I believe, these new initiatives will not only support India’s mission but also contribute to enhancing social development by increasing employment opportunities and upskilling manpower. This collaboration between Toyota, as an industry partner, and GTTC, as basic training provider, will play a substantial role in contributing to the nation’s vision of “Make in India” and “Skill India”.”

To create world-class manpower in advanced technologies and manufacturing, TKM has undertaken a major expansion of their training institute with capacity going up from 200 to 1,200 students. TKM has trained more than 77,360 employable youths in various skill development initiatives. TKM has collaborated and is engaged in developing one Industrial Training Institute (ITI) in every district of Karnataka (31 districts). Through Toyota Technical Education Program (TTEP), TKM continues to develop trainees in 49 Institutes, across 17 States in India. Further, TKM has tie-ups with Government of Karnataka, Kerala, Odisha, Tamil Nadu, Maharashtra, Haryana, New Delhi, and Telangana providing skill enhancement to students and faculty members.

AG&P Pratham Kicks Off Its Pipeline Laying Work For Domestic And Commercial PNG Connections In Mysuru

AG&P Pratham, a leading player in the Indian City Gas Distribution (CGD) industry, held a ground breaking ceremony today to mark the start of construction for its Piped Natural Gas (PNG) pipeline laying work in Mysuru, Karnataka. AG&P has already set up 9 CNG stations in Mysuru District and the number of stations will grow to 24 by March 2023. The network of CNG Stations will further be expanded to Mandya and Chamrajanagar Districts and reach a total of 42 Stations by March 2023.

The ground breaking ceremony was graced by MP Shri Pratap Simha, MLA Shri L Nagendra, Commissioner MCC Shri Laxmikant Reddy, Corporator Shri M.U. Subaiah (Ward 20), Corporator Shri Shivakumar (Ward 47) in the presence of AG&P Pratham representatives Mr. Arun Nayak, Regional Head and Mr. Nitin Huilgol, Cluster Marketing Head, Karnataka.

The company has received permission from Mysuru Municipal Corporation for Ward number-20 Vijay nagara and Ward number-47 Kuvempunagara and permission for Ward number-3 Mahadeshwara Badavane is expected shortly, for MDPE laying for the benefit of domestic and commercial customers. The PNG Pipeline Laying will not only provide continuous PNG supply to domestic customers but will also transform their lives by allowing them to experience a fuel that is safer, economical, reliable as well as convenient. It helps save up to 22% on household cooking fuel in comparison to LPG cylinders.

“The construction of AG&P Pratham’s PNG pipeline in Mysuru is an important milestone in the roll-out of natural gas networks being developed in Karnataka. It is in lockstep with our mission of helping the country in moving toward energy sufficiency and transform into a gas-based economy. We are committed to taking a step ahead for ensuring a clean, economical, and sustainable future supply of natural gas to every household in Mysuru.” said Mr. Arun Nayak, Regional Head, AG&P Pratham.

About AG&P Pratham:

AG&P Pratham is the leading international player in the Indian City Gas Distribution (CGD) industry. AG&P Pratham holds 12 CGD licenses awarded by the Petroleum & Natural Gas Regulatory Board (PNGRB) to exclusively provide natural gas for everyday use in 34 Districts in Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, and Rajasthan. The exclusive rights cover the supply of Piped Natural Gas (PNG) to households, industrial, commercial, non-commercial, and non-domestic exempt commercial (NDEC) establishments, as well as CNG for use in vehicles. These CGD networks will cover 278,000 square kilometers, 17,000 inch-km of the pipeline, and over 1,500 new CNG stations.

Serial Entrepreneur - Ashok Soota Unveils Happiest Health Portal With In-Depth Knowledge Related To Health And Wellness

Serial Entrepreneur and Executive Chairman of Happiest Minds, Ashok Soota today announced the launch of his latest entrepreneurial venture Happiest Health, a global health and wellness knowledge enterprise that aims to provide in-depth, credible and trustworthy knowledge related to health and wellness. Happiest Health formally launched its website Happiest Health, accessible to all across the globe. This is Ashok Soota’s second commitment to the health and wellness space, having launched SKAN last year, a not-for-profit Medical Research Trust that focuses on aging and neurological disorders.

Happiest Minds 5-year Vision statement includes:

*   Be recognized amongst the top 2 most trusted and credible sources of knowledge on health and wellness globally.

*   Be recognized for our thought leadership for kinder, gentler & newer therapies.

*   Prepare the company for a successful IPO around FY-29.

* Be known as the company with the highest standards of Corporate governance.

*   Be recognized by Great Places To Work (GPTW) as a best place to work, best place for women, best place for health and wellness

* Achieve carbon neutrality by FY23 and net-zero emission by FY25.

Happiest Health will aim to be recognized amongst the top two trusted and credible sources of knowledge on health and wellness globally, while driving thought leadership for integrated medicine and gentler, kinder therapies.

Speaking at the launch, Ashok Soota, Executive Chairman, Happiest Health said, “Happiest Health owes its genesis to a cognizance that globally healthcare knowledge is merely about repetitive factual information that may not necessarily answer concerns of a common person or provide in-depth, coherent understanding on complex health and wellness issues. We want to become global leaders of health and wellness knowledge and position ourselves as Happiness and Wellness Evangelists. Through Happiest Health, we want to build the importance of integrated medicine, provide valuable knowledge through experts on early diagnosis and evidence-based therapies and do so with empathy and passion.”

Armed with the mission of ‘Better Knowledge. Better Health’, Happiest Health aims to be a game changer in providing customised, interactive wellness and health knowledge across digital platforms with a strong focus on research-driven content, breakthroughs and developments in related fields, tools for early diagnosis, user stories & comments and kinder, gentler therapies. The platform will have articles and blogs from esteemed doctors, a rich panel of wellness experts lending their voice to the knowledge base. Another key highlight will be the platform’s collaboration with globally renowned medical research institutes for knowledge sharing. While keeping abreast of all modern allopathic practices, Happiest Health will also put the spotlight on therapies such as Ayurveda, Homeopathy, Naturopathy, Yoga for wellness, to name a few.

Commenting on the launch, Ravi Joshi, Chief Editor (Digital), Happiest Health said, “There is a huge potential for verifiable medical content that can be put to good use. Happiest Health aims to bridge gaps in wellness knowledge that is relatable, credible and, most importantly, relevant for people across the spectrum. We wanted to create a platform that is pathbreaking in its content while passionately caring for all-round wellness of our readers. We aim to reach maximum users in India and across the world to deliver happiest health and wellness.”

Happiest Health will educate audiences with breakthroughs and developments in health and wellness sourced from new research including studies from global institutes of excellence. The platform’s panel of doctors will cover multiple disciplines through guest essays, articles which offer unique perspectives and interesting medical experiences.

Commenting on the roadmap for Happiest Health, Ashish Pratap Singh, Chief Marketing Officer, Happiest Health said, “The growing urban population is aware and concerned about increasing lifestyle-driven health issues. At Happiest Health, we see the need to mitigate concerns through preventive wellness and early diagnosis. People of all ages are increasingly understanding the importance of holistic wellness and integrated medicine. Through Happiest Health, we are well-positioned to address these needs and bring all of this knowledge in a coherent, meaningful manner.”

Happiest Health will also cater to tier-II & III regions in India with regional written and video content, which the platform will launch in the next one year. Happiest Health will also soon launch its own podcast, web series and audio content.

Shapoorji Pallonji Real Estate Launches “Residential Home Inventory” of Rs. 400 Plus Crores At Parkwest 2.0

* The new tower CEDAR stands 32 storeys tall, will offer luxurious 2.5 BHK & 3 BHK apartments 

After the successful launch of earlier Parkwest towers, Shapoorji Pallonji Real Estate, one of India’s most trusted real estate brands, has announced the launch of its residential home inventory of Rs. 400 plus crore at its Bengaluru project. The new tower CEDAR at Parkwest 2.0, is a luxurious project situated in Central Bengaluru. Part of a 46-acre development and with a total saleable area of over 3 lakh square feet, the project is located in Binnypet. 

The newly launched tower, CEDAR, at Parkwest 2.0, stands at 32 storeys and offers 225 efficiently & smartly designed luxury apartments with 2.5 & 3 BHKs ranging from 1588 square feet to 2065 square feet. Priced at Rs. 1.62 crore onwards, tower CEDAR at Parkwest 2.0 will offer spacious homes with large decks, ample sunlight, fresh air, breath-taking views, and the utmost privacy to its occupants.  

The company has launched over 2371 (excluding t8) apartments. Of these, 700+ apartments have been handed over to the residents.   

Strategically located, Parkwest offers easy connectivity to the Metro Station, Majestic Bus Stand and City Railway Station. The project is in close proximity to the Central Business District, shopping malls, schools, hospitals, commercial complexes, restaurants, and entertainment options.  

Commenting on the launch, Mr Venkatesh Gopalakrishnan, Chief Executive Officer at Shapoorji Pallonji Real Estate, says, “Considering the overwhelming response from home buyers, we are launching tower CEDAR at Parkwest 2.0. We believe this is the right time to bring the best products to the Central Bengaluru micro-market. Moreover, the smart way of living offered at tower CEDAR is the best fit for Bengaluru residents as the city is well known as a tech hub of the country.” 

Mr Sumit Sapru, Business Head, Shapoorji Pallonji Real Estate said, "We have witnessed a steady demand for spacious luxury homes in the Bengaluru market. Parkwest will not only deliver but exceed customers’ expectations of luxury living. We look forward to ensuring that Parkwest becomes Binnypet’s most desirable address.” 

Equipped with the latest security and home automation solutions, tower CEDAR at Parkwest 2.0 will offer a smart way of living to its homebuyers. It will offer a package of smart security and home automation solutions which will include a smart door lock, smart video door phone, motion alarm, panic alarm, smart control for AC, smart control for the television, smart energy monitoring, smart water purifier, electric vehicle charger and remote activation of the water heater. With the existing lush greenery at Parkwest 2.0, the project will offer the best-balanced blend of nature and technology. With Parkwest, Binnypet has become a desirable location for investors and home buyers.  

About Shapoorji Pallonji Real Estate (SPRE)  

Shapoorji Pallonji Real Estate is a well-regarded, reputed player in the Indian real estate sector owing to cutting-edge design innovation, construction quality and architectural excellence. It constitutes a significant segment of the Shapoorji Pallonji Group – an enormous multi-business conglomerate. The group has a 150+ years legacy that bridges the earliest celebrated structures of India and the modern marvels. Shapoorji Pallonji Real Estate has made inroads into most Indian cities – Mumbai, Pune, Bangalore, Gurugram and Kolkata - with a variety of developments from luxury apartments, opulent residences to aspirational homes for mid-income homebuyers as well as one of the largest mass housing projects in India. 

Link to the website: https://www.shapoorjipallonji.com/  

PNB MetLife Announces INR 594 Crore Bonus For 4.95 Lakh Participating Policyholders

* The bonus amount for FY22 is 12% higher than that of FY21 and the highest since the company’s inception

PNB MetLife India Insurance Company Limited (PNB MetLife) has announced a bonus of INR 594 crore for all eligible policyholders of participating products for FY22. 

The insurance company has been consistently declaring bonuses on participating products every year, and the bonus amount for FY22 is 12% higher than that of FY21. This bonus sum will benefit 4.95 lakh customers whose policies were in force as of 31st March 2022.

Ashish Kumar Srivastava, MD & CEO, PNB MetLife, said, “As a company, our business goals orbit around customer-centricity and we strive to assist our clients in building a more secure financial future. Though the pandemic outbreak led to market volatility, we at PNB MetLife have been able to deliver consistent returns to our policyholders as a result of our prudent management practices. We are happy to announce that our annual bonus in FY22 is INR 594 crore and this is the highest bonus that we have ever given out since our inception. Our customers placed their trust in is to help them achieve their long-term financial goals, and we believe that this incentive will do exactly that.”

A policyholder bonus is the share of profits generated by the company’s participating fund which is paid to the customers at specific benefit events. PNB MetLife’s strong fund management capabilities coupled with robust risk management practices have enabled the company to reward policyholders with consistent bonus pay-outs. Significant peer fund and benchmark index outperformance across key categories in a competitive market make PNB MetLife a preferred choice for our policyholders in their journey of long-term wealth creation.

At PNB MetLife, customer-centricity permeates all aspects of PNB MetLife's operations. The company follows the ‘Circle of Life’ approach, which offers solutions for different life stages, including child education, family protection, long-term savings as well as retirement benefits. Customers who invest in our life insurance plans like the PNB MetLife Century Plan, PNB MetLife Super Saver, PNB MetLife Retirement Savings Plan, and PNB MetLife Bachat Yojana benefit from both life insurance coverage which ensures their goals are secured and the opportunity to create wealth through bonus accruals and pay-outs.

About PNB MetLife India Insurance Company Limited

PNB MetLife India Insurance Company Limited (PNB MetLife), one of the leading life insurance companies in India (Source – CRISIL), has as its shareholders MetLife International Holdings LLC. (MIHL), Punjab National Bank Limited (PNB), M. Pallonji and Company Private Limited Jammu & Kashmir Bank Limited (JKB), and other private investors, with MIHL and PNB being the majority shareholders.

For more information, follow us on Twitter @PNBMetLife1, www.facebook.com/PNBMetLife, or visit www.pnbmetlife.com.

·         The marks “PNB” and “MetLife” are the registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks”.

LTI Constant Currency Revenues Grow 26.6% YoY; Net Profits Up 27.7% YoY

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY23 results today.

In US Dollars:

Revenue at USD 580.2 million; growth of 1.7% QoQ and 23.4% YoY

Constant Currency Revenue growth of 2.9% QoQ and 26.6% YoY

In Indian Rupees:

Revenue at INR 45,228 million; growth at 5.1% QoQ and 30.6% YoY

“We are pleased to report 26.6% YoY revenue growth in constant currency. We added 4 Global Fortune 500 logos to our client list in Q1, taking our total Global Fortune 500 customers to 77. We are also happy to announce 4 large deal wins during the quarter with net new TCV of US$ 79mn.”  

- Sudhir Chaturvedi, President Sales & Executive Board Member

“Our healthy pipeline will ensure that we maintain our large deal momentum. Our sustained net headcount addition reflects our confidence and continued focus to deliver strong growth in FY23”

- Nachiket Deshpande, Chief Operating Officer & Executive Board Member

Net Income at INR 6,344 million; decrease of 0.5% QoQ and growth of 27.7% YoY

Recent Deal Wins

-          Selected by a Global Fortune 500 energy company for management and implementation of a safety program across their operations

-          Chosen by a global organization present in over 130 countries involved with protecting human rights to transform their data management, collaboration and communication solutions, digital experience, and ERP landscape

-          Engaged by a Global Fortune 500 technology company to develop, support and enhance solutions for products on their hybrid cloud and AI platforms

-          One of the largest financial institutions in the Middle East has selected LTI for a multi-year managed services contract to transform their channels landscape under “Change the Bank” initiative

-          A Global Fortune 500 food and services company has chosen LTI for a managed services deal to provide support and enhancements for SAP applications, Anaplan and other AWS Infrastructure and security apps

-          Selected by a full-service broker as a strategic partner for managing their mission critical applications. LTI will perform development, maintenance, and production support services for applications while reducing cost and improving operational efficiency

-          Selected to set up an automated and integrated governance, risk, and compliance (eGRC) solution for one of the largest Smart Cities coming up in the Middle Eastern region

-          Engaged by a Global Fortune 500 technology and manufacturing company to deploy a strategic sales solution across locations to ensure an efficient and smooth sales process

-          One of India’s largest private sector banks has chosen LTI for managing their Security Operations Center (SOC) using analytics and artificial intelligence for advanced threat monitoring, detection, remediation, and risk management processes

-          Chosen by a key group member of an international financial organization to design and architect cloud native enterprise applications on Azure cloud platform

-          Selected by a large insurance and financial services provider for implementation of Guidewire InsuranceNow platform for several new products and services rollouts to increase efficiency

Analyst Recognitions

-          Fosfor by LTI Positioned as a Major Contender in Everest Group’s Intelligent Document Processing (IDP) – Technology Provider Landscape with Products PEAK Matrix® Assessment 2022

-          LTI recognized in 2022 Gartner® Magic Quadrant™ for Oracle Cloud Application Services, Worldwide

-          LTI recognized in The Forrester Now Tech: Cloud Migration and Managed Service Partners In Asia Pacific, Q2 2022

-          LTI recognized in 2022 Gartner® Competitive Landscape: IT Service Providers to the Global Insurance Industry

Awards & Other Business Highlights

-          LTI has been named the GSI Global Delivery Platform Partner of the Year by Snowflake, the Data Cloud company. The award demonstrates LTI’s leadership and excellence, as an Elite Partner of Snowflake, in accelerating migrations and implementations on the Snowflake Data Cloud at speed and scale

-          LTI won multiple accolades at the Institutional Investor 2022 Rest of Asia ex-Mainland China Executive Team rankings.  LTI has been ranked amongst the top 3 across all sell-side categories in the Technology/IT Services & Software space. It was also recognized in the ‘Most-Honored’ Companies Asia List 2022

-          LTI has been ranked among the top 5 players in the latest IT Sourcing study for the Nordic region by Whitelane Research and PA Consulting

-          LTI expanded its operations by setting up a new facility in Kolkata. The new center marks company’s expansion in the Eastern region of the country and is designed to meet the requirements of a futuristic and modern workplace

Emirates Statement On Flight Operations At London Heathrow Airport

Emirates values our partnerships with airport stakeholders across our network with whom we engage continuously, and collaboratively, to secure our flight operations and ensure minimal customer disruption, particularly over the peak travel months. 

It is therefore highly regrettable that LHR last evening gave us 36 hours to comply with capacity cuts, of a figure that appears to be plucked from thin air. Their communications not only dictated the specific flights on which we should throw out paying passengers, but also threatened legal action for non-compliance. 

This is entirely unreasonable and unacceptable, and we reject these demands. 

At London Heathrow airport (LHR), our ground handling and catering – run by dnata, part of the Emirates Group - are fully ready and capable of handling our flights. So the crux of the issue lies with the central services and systems which are the responsibility of the airport operator. 

Emirates is a key and steadfast operator at LHR, having reinstated 6 daily A380 flights since October 2021. From our past 10 months of regularly high seat loads, our operational requirements cannot be a surprise to the airport. 

Now, with blatant disregard for consumers, they wish to force Emirates to deny seats to tens of thousands of travellers who have paid for, and booked months ahead, their long-awaited package holidays or trips to see their loved ones. And this, during the super peak period with the upcoming UK holidays, and at a time when many people are desperate to travel after 2 years of pandemic restrictions. 

Emirates believes in doing the right thing by our customers. However, re-booking the sheer numbers of potentially impacted passengers is impossible with all flights running full for the next weeks, including at other London airports and on other airlines. Adding to the complexity, 70% of our customers from LHR are headed beyond Dubai to see loved ones in far flung destinations, and it will be impossible to find them new onward connections at short notice. 

Moving some of our passenger operations to other UK airports at such short notice is also not realistic. Ensuring ground readiness to handle and turnaround a widebody long-haul aircraft with 500 passengers onboard is not as simple as finding a parking spot at a mall. 

The bottomline is, the LHR management team are cavalier about travellers and their airline customers. All the signals of a strong travel rebound were there, and for months, Emirates has been publicly vocal about the matter.  We planned ahead to get to a state of readiness to serve customers and travel demand, including rehiring and training 1,000 A380 pilots in the past year. 

LHR chose not to act, not to plan, not to invest. Now faced with an “airmageddon” situation due to their incompetence and non-action, they are pushing the entire burden – of costs and the scramble to sort the mess - to airlines and travellers. 

The shareholders of London Heathrow should scrutinise the decisions of the LHR management team. 

Given the tremendous value that the aviation community generates for the UK economy and communities, we welcome the action taken by the UK Department for Transport and Civil Aviation Authority to seek information from LHR on their response plans, systems resilience, and to explain the seemingly arbitrary cap of 100,000 daily passengers. Considering LHR handled 80.9 million passengers annually in 2019, or a daily average of 219,000, the cap represents greater than a 50% cut at a time when LHR claims to have 70% of ground handling resources in place.  

Until further notice, Emirates plans to operate as scheduled to and from LHR.  

Forays Into Consumer Space With The Launch of Protective Head Gear (Helmets)

* Launches two-wheeler Fiber Parts with 1500+ variants

Minda Corporation Limited (referred to as “Minda Corp” or the “Company”; NSE: MINDACORP, BSE: 538962), is the flagship company of the Spark Minda Group, launched 17 helmet models with 145 variants in the Indian retail market. The launch marks Spark Minda’s foray into the B2C space at a time when India is emerging as the largest and fastest growing helmet market globally.

During the next few years, the company plans to add 200+ distributors and open exclusive Spark Minda branded outlets across the country, making the distribution network more robust. The Protective Head Gear will be available across three customer segments- Economy (Knight series), Mid (Garrison series) and the Premium (Armored series) category.

Spark Minda also announced the launch of 1500 fiber parts (Plastic-molded, painted components for two-wheelers) to meet the growing demand of 2W riders across the country. This number is targeted to increase to 2400 in the next two years, representing the largest range of fiber parts available in the country.

Mr. Ashok Minda, Chairman and Group Chief Executive Officer, Minda Corporation Ltd. said:

“The last six decades have seen Spark Minda ushering industry leading solutions in the automotive industry. The amalgamation of the group's experience along with its impetus on extensive research has lodged it well ahead of its league when it comes to developing products for the future.

India is the fastest growing major economy in the world. Our foray into the consumer business category will not only make us a part of this iconic growth story of the country, but also reinforce our commitment to provide the highest standards of safety for 2W riders across the country."

Mr. Neeraj Sharan, CEO, Aftermarket Division, Minda Corporation Ltd. said:

“India is world’s biggest helmet market with 40-45% of the sector still being served by unorganized players. The launch of this extensive product range will bring a significant disruption and help us become one of the leading players in the helmet segment. We want to ensure that certified helmets are available to every 2W rider in India. Going forward, the company plans to expand the merchandise portfolio by launching a range of new products and have the largest range of Fiber parts for our 2W riders in the country.”

Currently, the aftermarket division at Spark Minda has a network of 500+ distributors and 12,000+ retailers across India with 12 product lines including Locks, Wiring Harness, Instruments, Auto Electrical components (Starter Motor), Flasher, Relays, CDI, Wiper, Cable, Filter, Lubricant, Brake shoe, Clutch plate, and Bearing.

About Minda Corporation (BSE:538962; NSE: MINDACORP)

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and significant international footprint. The Company was incorporated in 1985. Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The Company has a diversified product portfolio that encompasses Mechatronics; Information and Connected Systems and Plastic and Interior for auto OEMs. These products cater to 2/3 wheelers, passenger vehicles, commercial vehicles, off-roaders and after-market. The Company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

For assimilating the latest technologies, Minda Corporation has a dedicated R&D facility and collaborations with the pioneers and leaders of the automobile industry. This has provided Minda Corporation with the cutting-edge in product design and technology to meet strict international quality standards.

CollegeDekho Announces Assured; To Address India’s Skilling Gap In The Higher Education Space

Highlights

Offers internship and job surety to the students across 200+ partner organisations 

Students can enrol in 8+ courses across technology and management programmes; the company plans to introduce other streams soon 

Post completion of 300 hours, students will get certification from AWS, Facebook, Google, PrepBytes, etc  

Over 1200 students have already been placed in the pilot phase 

CollegeDekho, India’s largest college admissions and education services platform, has launched CollegeDekho Assured, an online learning platform offering a series of live, interactive courses across multiple streams such as technology and management. The programme aims at upskilling and enhancing the employability of India’s 38.5 mn college students* while also helping those with limited access to an industry-focused curriculum. 

CollegeDekho Assured is designed to complement India’s National Educational Policy 2020 and address the current skill gap in the higher education space. A ManGroup’s report released in the year 2022 highlights that while nearly 63% of employers expect to increase their staffing levels, however, 83% of them feel it will be difficult to fill the open positions owing to a massive talent shortage.  

“With 20 mn students** globally opting for both short-term and long-term online courses and over 65% of students agreeing how these digital courses are helping them understand subjects better, digital learning can play an important role in helping India achieve its Education 4.0 vision. At CollegeDekho, we and our students have already seen some phenomenal results from the courses we have designed alongside the industry experts and academia. We are optimistic that Assured will take this a notch up with courses being offered at an affordable cost alongside assured internships and jobs,” said Mr. Ruchir Arora, Co-Founder & CEO, CollegeDekho. 

The programme will give college students access to a curated curriculum to be job-ready and flexibility to customise the course. Students will also be aided with industry-focused skills through Project-based immersive learning and real-world exposure through industry visits and its Advanced Placement Ready Courses. CollegeDekho Assured will also assist students with resume and profile building alongside 100% internship and placement assurance with top companies. In the pilot phase, 1200 students have already been placed across top organisations like Motilal Oswal, Trantor, Stratemis HR Technologies, and CloudQ. College students begin their Assured journey from the first semester onwards as spreading the 300 hours of study material across 4-6 semesters will help them better focus on their college curriculum as well as enhance their academic performance by learning from industry experts. 

Alongside customization of courses and flexible learning hours with CollegeDekho Assured, students will also get unlimited access to recorded lectures, videos, and reading materials prepared by industry experts and academia. This will help them with self-paced learning and revisions. To enable wholesome learning, students will also get live interaction sessions with the faculty members and a 24x7 operational forum for doubt clarification and discussions. Students will also be provided access to questions from previous editions of relevant exams in case they plan to apply for their masters or specialised courses.  

CollegeDekho receives more than 25 cr of yearly student traffic on its platforms, which is about 50% of all college searches in India. Since its beginning, the company has successfully guided more than 44 lakh students across India while securing around 70,000 admissions to various streams, colleges, and nations. 

About CollegeDekho 

Founded in 2015, CollegeDekho is on a mission to institutionalise students’ counselling in India in the higher education space. It connects prospective students with colleges using its proprietary technology and AI-based chat conversation bot. Its Common Application Form platform, which enables students to apply to multiple colleges with a single click, is India’s largest of its kind. Since its inception, CollegeDekho has counselled more than 44 lakh students and has helped more than 1500 colleges with their student recruitments. For study abroad students, CollegeDekho provides a full stack of services from profile building, test preparation, university selection and visa assistance. The company recently announced a Fintech vertical that offers students with end-to-end financial assistance and CollegeDekho Learn, an online learning platform that helps students prepare for their future course of studies and placements. The company is backed by investors like ETS, an organisation responsible for conducting GRE and TOEFL exams globally. (www.collegedekho.com)  

Mohan Bhagwat Delivered The First Convocation of Sri Sathya Sai University For Human Excellence, Kalaburagi, Karnataka

Dr Mohan Ji Bhagwat presided over the first convocation of Sri Sathya Sai University for Human Excellence in the presence of Sadguru Sri Madhusudan Sai, the Founder of the University and a galaxy of dignitaries. Bhagwat Ji’s presence at the event carried a special significance for the fact that this University is one-of-its-kind to provide higher education completely free of any cost to needy rural youths, on the foundation of the ancient Indian gurukula system of learning and living in a residential set-up.

A note-worthy point is that 50% of the graduands who convoked this year from the University were first generation literates, most of whom were also the first higher educated literates in their whole village. These students have been trained for fulfilling the very purpose of education, which is to serve the needy in society and hence they shall join their almamater – Sri Sathya Sai Loka Seva Gurukulam Group of Institutions which is running 27 school campuses across 22 districts in Karnataka, 1 in Telangana and 1 in Tamil Nadu, completely free of cost to the rural children.

The first convocation of the University celebrated achievement and altruism by honouring six eminent personalities from various fields of excellence with honorary doctorates.  Dr R Chidambaram – India’s most distinguished experimental physicist, Dr K Kasturirangan – Former Head of Indian Space Research Organisation, Mr Sunil Gavaskar – Cricket Legend, Pandit M Venkatesh Kumar – renowned hindustani classical vocalist, Ms Purnima Devi Barman – wildlife conservationist from Assam, and Mr C Sreenivas – Chairman of the Sri Sathya Sai Sanjeevani Child Heart Care Centres, were bestowed their honorary doctorates by Dr Mohan Ji Bhagwat.

Bhagwat Ji also visited a multi-speciality hospital  that provides completely free of cost healthcare – Sri Sathya Sai Sarla Memorial Hospital, which is soon to become a teaching and training hospital for the world’s first free medical college in the same premises.

Dr Mohan Bhagwat spoke thus in his convocation address – “The act of offering education completely free of cost to needy children has truly impacted the lives of these children beyond their imagination. The motive behind using individual excellence to bring about collective excellence is the goodness behind this University. Transformation is the need of the hour—the kind of transformation that shall change the face of Bharath is what I am witnessing here.”

Sadguru Sri Madhusudan Sai remarked – ““Our work is our identity, our work is our worship. This first convocation of the Sri Sathya Sai University for Human Excellence has produced graduands who will dedicate their knowledge and skills for the service of the society. Being a right example to the society is the highest form of service one can ever render, and these graduands will be exemplars of this kind of service.”          

About Sri Sathya Sai University for Human Excellence

Inspired by the ancient Indian way of education that caters to all aspects of human development with spiritual evolution at its very core, the Sri Sathya Sai University for Human Excellence was established as a Private University under the Karnataka Legislative Act 2018 at Navanihala Village, Kamalapur Taluk, Kalaburagi District in Karnataka. The University encapsulates values-based integral education in a unique residential environment, with the core idea to create individual excellence in all fields of knowledge, and with the purpose to promote and propagate science, humanities, all forms of fine arts, and spirituality, free of any tuition fees or other charges, based on the ancient Indian gurukula system of education, to all students without any discrimination.

‘Redemption of one’s own self and the welfare of society’ is the principle on which the Sri Sathya Sai University for Human Excellence has been founded. The emphasis at the University is, first and foremost, on a perfect balance between spiritual education and material education, or rather, between the means of living and the ultimate goal of life.

About Sadguru Sri Madhusudan Sai

Sadguru Sri Madhusudan Sai spearheads the mission of love and service as propounded by Sri Sathya Sai Baba. Walking in the footsteps of Baba, his Guru and God, Sri Madhusudan Sai is instrumental in establishing various humanitarian service projects across 33 Countries. Since 2011, he has been leading dedicated volunteers and passionate individuals to establish institutes of excellence in Education, Healthcare, Nutrition and Spirituality across the world.

Today, four super speciality paediatric cardiac care hospitals, a multi-disciplinary secondary care hospital, two exclusive mother and child hospitals, 27 values-based educational campuses in South India, a veda gurukulam to promote learning and research in vedic studies, and a morning nutrition programme which nourishes over 500,000 school-going children every single day, have been established to offer services absolutely free of cost to children from needy and impoverished backgrounds.

Over 170,000 little hearts have been mended at the temples of healing and 5,000 rural children have been empowered with values-based integral education at the temples of learning, and 11 Centres for Human Development in 11 countries have been established to carry out spiritual and service activities across the world. The life of Sri Madhusudan Sai is indeed a reflection of Baba’s message of love and service, as several lives are being illumined through these benevolent acts of service every single day.

Mindtree Starts FY23 With Strong Growth And Record Order Book

* First quarter revenue up 5.5% sequentially in constant currency; EBITDA margins at 21.1%; highest-ever order book at $570 million

Mindtree, a global technology services and digital transformation company, announced its consolidated results today for the first quarter ended June 30, 2022, as approved by its Board of directors.

“We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. “With revenues of $399.3 million, up 5.5% sequentially in constant currency on the back of a healthy demand for our digital capabilities, this was our sixth consecutive quarter of more than 5% revenue growth in constant currency. Our EBITDA was 21.1%, underscoring our disciplined execution and operational rigor. Our highest-ever order book of $570 million reflects the relevance of our value proposition in delivering business-critical transformation at scale. We are proud of our dedicated teams who continue to exceed client expectations with passion and purpose.” 

Key financial highlights:                                                 

Quarter ended June 30, 2022

·       In USD:

Revenue was $399.3 million (growth of 4.0% q-o-q / 28.6% y-o-y)

Net profit was $60.3 million (decline of 3.8%) q-o-q / growth of 29.7% y-o-y)

·       In INR:

Revenue was ?31,211 million (growth of 7.7% q-o-q / 36.2 % y-o-y)

Net profit was ?4,716 million (decline of 0.3% q-o-q / growth of 37.3 % y-o-y)

Other highlights:

·       Clients:

274 active clients as of June 30, 2022

$10 million+ clients increased by 3, total 35

$20 million+ clients increased by 4, total 18

·       People:

37,455 professionals as of June 30, 2022

Trailing 12 months attrition was 24.5%

Some key deals won in Q1 FY23:

A leading U.S.-based airline chose Mindtree as a preferred digital product development partner. As part of the multiyear deal, Mindtree will help the airline accelerate growth by transforming its core systems and digital channels.

A healthcare technology provider awarded a three-year digital transformation contract to Mindtree for business-critical application development and maintenance services.

A leading hyperscaler selected Mindtree for a multiyear managed services deal as part of which Mindtree will provide a wide range of technology and program management support to the company’s digital stores worldwide.

A leading global specialty insurance and reinsurance company selected Mindtree as a preferred partner for a multiyear managed services program spanning cloud, IT infrastructure, and security.

A leading audio technology company chose Mindtree as a preferred partner for a multiyear managed services deal consisting of cloud, development, and testing services.

An Australian wealth management group selected Mindtree as a partner of choice for its core modernization and digital transformation program.

Recognitions:

Recognized as a major contender by Everest Group in its Healthcare Payer Digital Services PEAK Matrix® Assessment 2022.

Named an Aspirant by Everest Group in its Sustainability Enablement Technology Services PEAK Matrix® Assessment 2022.

Achieved certification from the British Standards Institution (BSI) for seven ISO standards across 18 locations — including five new ones added this year — in the U.S., the UK, Poland, and India.

Topped CRISIL’s ESG evaluation of more than 575 companies in India across 53 sectors and accorded the “Leadership” position in CRISIL’s Sustainability Yearbook 2022.

Ranked among Asia-Pacific’s top ten companies on the FT-Nikkei-Statista Asia-Pacific Climate Leaders list for achieving the greatest reduction in greenhouse gas (GHG) emissions intensity over 2015-2020.

Recognized with BEST awards by the Association for Talent Development (ATD) for driving impact and solving business challenges through talent development practices.

Won the Golden Peacock Award for Risk Management 2021 for business excellence and maturity in enterprise risk management.

Won the BW People HR Diversity and Inclusion Award for outstanding D&I initiatives.

About Mindtree

Mindtree [NSE: MINDTREE] is a global technology consulting and services company that enables enterprises across industries to drive superior competitive advantage, customer experiences and business outcomes by harnessing digital and cloud technologies. A digital transformation partner to approximately 275 of the world’s most pioneering enterprises, Mindtree brings extensive domain, technology and consulting expertise to help reimagine business models, accelerate innovation and maximize growth. As a socially and environmentally responsible business, Mindtree is focused on growth as well as sustainability in building long-term stakeholder value. Powered by more than 37,400 talented and entrepreneurial professionals across 24 countries, Mindtree — a Larsen & Toubro Group company — is consistently recognized among the best places to work. For more, please visit www.mindtree.com or @Mindtree_Ltd.