Vedanta Resources Reduces Net Debt By $2 Billion In FY23, Ahead Of Plans

Vedanta Resources Limited (Vedanta), the parent company of Vedanta Limited, India’s largest natural resources company, has deleveraged by $2 Bn in the past 11 months, thus achieving half of its $4 Bn 3-year debt reduction commitment in the first year alone.

Powered by robust domestic consumption in the fastest growing major economy, Vedanta is delivering healthy cash flows whilst maintaining disciplined capital allocation and has reduced net debt by $2 Bn, ahead of plans for this fiscal. During FY24/FY25, Vedanta will continue to deleverage from net debt of $7.7 Bn and plans to cover 50% of FY24 liquidity requirements internally and the balance through re-financing. Over the past 20 years, Vedanta has raised more than $35 billion through debt and equity and yielded highly attractive returns to shareholders, while maintaining an excellent track record of debt servicing.

Vedanta, a former FTSE 100 company, has an unparalleled portfolio encompassing: Zinc (world’s largest integrated producer), Aluminium (India’s largest producer of primary aluminium), Oil & Gas (India’s largest private producer of crude), Silver (6th largest producer globally), battery metals: Nickel (India’s sole nickel producer) & Cobalt, Copper, Iron Ore & Steel and Commercial Energy.

Vedanta’s next phase of growth will be fueled by its associated companies’ investments into Semiconductors (India’s first Semiconductor producer in collaboration with Foxconn), display glass (Avanstrate), renewables (through joint venture with KKR), optical fibre (fibre to home) and transmissions. Vedanta’s portfolio uniquely covers traditional and cutting-edge businesses.

Vedanta, a global organisation, is set to capitalize on India’s growth, stable governance, and the strength of 1.4 billion Indians increasing their reliance on domestic production. Vedanta Limited ranked 6th on the Dow Jones Sustainability Index in 2022, a towering jump of 14 places, and is uniquely positioned to deliver sustainable value on the back of its strong ESG performance.

About Vedanta Resources Limited

Vedanta Resources Limited (“Vedanta”) is a diversified global natural resources company. Its portfolio includes Zinc (world’s largest integrated producer), Aluminium (India’s largest producer of primary aluminium), Oil & Gas (India’s largest private producer of crude), Silver (6th largest producer globally), Copper, Iron Ore & Steel, battery metals: Nickel (India’s sole nickel producer) & Cobalt and Commercial Energy. Vedanta is a former FTSE 100 company headquartered in London with operations in India, Zambia, Namibia and South Africa. The company uniquely covers traditional and leading-edge businesses. For more information on Vedanta Resources,  visit www.vedantaresources.com

BPCL Enables Zero Cost Child Heart Surgeries For Children With Congenital Heart Diseases

* Joins hands with Sri Sri Sathya Sai Sanjeevani Hospitals to aid children in need

Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ & a Fortune Global 500 Company has partnered with Sri Sri Sathya Sai Sanjeevani Hospitals and enabled free of cost child heart surgeries for needy children with Congenital Heart Disease. BPCL, under their CSR initiatives, carried out this annual campaign on Congenital Heart Defect Awareness Day.

Over 4100+ children have benefited from the project and they are expected to treat 9000-12000 children by next year. BPCL has provided all critical medical equipment for the hospital in Mumbai and now pledged to treat 150 underprivileged children who would be treated totally free at Sai Sanjeevani Hospitals in Haryana and Chhattisgarh.

More than 24,000 children from the economically backward families have been treated by the hospitals, since they started.

To commemorate Congenital Heart Defect Awareness Day, Shri Sukhmal Jain, Director (Marketing), BPCL, spent an entire day at Sri Sathya Sai Sanjeevani Hospital in Kharghar, Navi Mumbai, with children undergoing treatment at the hospital, and spoke to their families.

Purvi Udar, 7 years old from Buldhana Dist of Maharashtra who was discharged after her successful surgery, sang a poem for the guests and said that she wants to be a corporate professional, when she grows up. Parents of another patient, three and half years old Kriti Prabha from Orissa, had lost hope till they discovered this hospital who performed corrective surgery free.

A third party Impact Assessment conducted for the project was as well undertaken which observes the success rate of surgeries has improved up to 99% due to the new advanced surgical equipment provided by BPCL. BPCL has been proudly and actively supporting this noble cause since 2018 and continue to serve these little hearts till now.

BPCL undertakes its CSR Activities in Five core Thrust Areas like Health & Sanitation, Education, Community Development, Environmental Sustainability and Skill Development along with the items enlisted in the Schedule VII of the Companies Act 2013.

The company believes that it is important to return to society and that their finest achievements aren’t those found in balance sheets but those, undertaken through their CSR projects in small towns, villages thus benefitting the marginalized communities at large.

BPCL has significantly contributed towards the goal of achieving sustainable development in above mentioned thrust areas while also contributing in other Schedule VII sectors. The Company partners with several capable organizations, thereby supporting projects that benefit the underprivileged and marginalized sections of society. CSR initiatives are undertaken based on social, environmental and economic considerations.

India Digital Summit 2023 To Bring Ecosystem Stalwarts On One Platform

All roads for the movers and shakers of the digital ecosystem will lead to the 17th India Digital Summit (IDS 2023), India’s largest and oldest digital conference, on February 20 and 21, 2023 at The LaLit, New Delhi. Organised by the Internet and Mobile Association of India (IAMAI), in association with MessageBird, IDS 2023 will bring together over 150  speakers, including policymakers, regulators, industry captains and subject stalwarts in more than 60 sessions, with a representation from over 500 digital brands, and participation of over 3000 delegates. The summit will culminate with the announcement of the winners of the prestigious India Digital Awards (13th edition), to be given away in 57 categories.

The theme of the conference is ‘Amrit Kaal: Digital India@100’. Among those who will address IDS 2023 are Shri Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles; Shri P D Vaghela, Chairman, Telecom Regulatory Authority of India (TRAI); Shri Rohit Kumar Singh, Secretary, Department of Consumer Affairs, Govt. of India; Mr. Sanjeev Bikhchandani, Founder and Executive Vice Chairman,  Info Edge; Mr. Sanjay Gupta, Country Head and VP, Google India; Mr. Dinesh Agarwal, Founder and CEO, IndiaMART; Ms. Sandhya Devanathan, Vice President - India, META India; Mr. Prabhjeet Singh, President, Uber India & South Asia; Mr. Shireesh Joshi, Chief Business officer and President Network Expansion, ONDC; and Mr. Ganesh Ananthanarayanan, COO, Airtel Payments Bank.

Participants at IDS 2023 will deliberate on the digital landscape across various sectors including fintech, e-commerce & D2C, entertainment, healthtech, online gaming, advertising and logistics, and reflect on how to pave the way for India to become an economic powerhouse.

A report, titled ‘The $500 Bn Credit Opportunity for Digital SMEs’, jointly produced by IAMAI and GetVantage with RedSeer as the knowledge partner, will be published at IDS 2023. 

Highlights of IDS 2023:

*2 DAYS * 9 TRACKS * 60+ SESSIONS * 150+ SPEAKERS, * 500 + DIGITAL BRANDS * 3000+ attendees. For more information on IDS 2023 visit – India Digital Summit

About IAMAI

Established in 2004, the Internet and Mobile Association of India (IAMAI) is a not-for-profit industry body and the country's only organization representing the digital services industry with over 450 Indian and multinational corporations as its members, which include established companies in diverse sectors of the digital ecosystem as well as start-ups. Its mandate is to expand and enhance the online and mobile value-added services sectors. It is dedicated to presenting a unified voice of the businesses it represents to the government, investors, consumers and other stakeholders. IAMAI represents varied sectors such as digital advertising, digital entertainment, TravelTech, online gaming, digital payments, fintech, digital commerce, Edtech, Healthtech, Agritech, Big data, ML, AI & IoT, AR/ VR, LogisticsTech and so on.

SAMCO Securities Embarks On Growth Trajectory, Augmented By Partnerships With Dentsu Creative, Adfactors PR And Womb

·         In alignment with its growth strategy, SAMCO Securities recently onboarded Womb as its mainline/creative agency, Dentsu Creative as its digital agency for the organization’s business, and Adfactors PR as the PR Agency for all verticals (SAMCO Securities and MF) 

·         The new partnerships with the leaders of marketing and communication industry are expected to strengthen its foothold in the industry through enhanced brand visibility

SAMCO Securities, India's leading flat-fee brokerage and wealth-tech platform, is strengthening the brand positioning and charting its growth trajectory through elite partnerships with India’s leading marketing and communication agencies. The award-winning online stockbroker has recently onboarded Womb as its mainline/creative agency, Dentsu Creative as its digital agency, and Adfactors PR as the Public Relations agency for all verticals (SAMCO Securities and MF). The partnerships are expected to boost brand presence in the industry and aid retail investors in successfully navigating and acing the capital market.

Commenting on the vision for evolution, Mr. Jimeet Modi, Founder and CEO, SAMCO Group, said, “SAMCO Group is delighted to announce its collaboration with Womb, Dentsu Creative, and Adfactors PR to drive synergies for increasing the brand’s visibility. We are committed to deliver exceptional services, and the partnerships are a testament to our endeavours. We envision engaging with a significantly larger customer base and strengthening our position as a leader in the industry through the holistic marketing initiatives and innovative campaigns.”

Elaborating on the partnerships, Mr. Ajay Dusane, Chief Growth Officer, SAMCO Securities, commented, “Womb’s expertise in strategic marketing will assist us in building our brand preference, and we share a common vision with Dentsu Creative of providing impactful digital marketing solutions. As with Adfactors PR, we aim to position SAMCO Securities in strategic media platforms as the investors’ preferred choice for providing wealth creation solutions.”

Expressing his views on the collaboration, Mr. Kawal Shoor, Founding Partner, The Womb said, “For both SAMCO and The Womb, it is a great cultural fit with our vision and deliverables. The Indian stock market is at a very interesting juncture with the number of investors and traders on the rise, thereby creating a need for effective handholding in their journey to success. We look forward to embark on this transformative journey with SAMCO Securities as they enable their customers to create wealth.”

The robust growth strategy facilitated by the partnerships will accelerate the brand’s expansion through increased communication outreach with its target audience. 

About SAMCO Securities

SAMCO Securities was incorporated by Mr. Jimeet Modi, Founder & CEO of SAMCO Group in 2015. As the country’s leading flat-fee brokerage and wealth-tech platform, SAMCO Securities provides retail investors access to sophisticated financial technology and makes their wealth-creation journey simple, informed, and cost-effective. SAMCO Securities mission is to eliminate the existing challenges faced by traders and investors and democratize access to wealth management process for every Indian. With customer centricity at SAMCO’s core, we implement a quantitative approach to provide differentiated solutions that empower our customers in acing the capital markets.

The full-service wealth creation platform powered by content and research is accredited with many industry first such as the flat-fee pricing model. StockBasket, another industry-pioneer, evaluates over 2 crore data points to discover India’s best quality stocks for long-term wealth creation. Furthermore, the industry-first KyaTrade instantly identifies and streams a multitude of trading and investing ideas so that the customers can trade from anywhere and anytime, among others.

For more details, visit https://www.samco.in/

South-India Based Financial Institution To Raise INR 20Cr Via Senior Secured Debt In Partnership With MYRE Capital

·         Financial institution benefits from the flexibility to structure their finance

·         Opportunity offers Senior Secured Debt, secured with Loan-Against-Property (LAP) lending book worth 1.5x of receivables

·         Invested corpus will fund a RBI-registered financial institution, which disburses retail loans

·         For investors: Min. investment is INR 15 lakhs offering 11% Internal Rate of Return (IRR)

·         MYRE Capital has launched this opportunity for accredited investors via offline distribution channels

To enable accredited investors to diversify their portfolio, neo-realty investment platform, MYRE Capital has today announced the launch of its latest structured debt opportunity for accredited investors. The invested corpus will go to a CRISIL rated, RBI-registered, financial institution, which is engaged in disbursing loan against property to retail investors in semi-urban and rural geographies in South India. MYRE aims to raise INR 20 crore from its investors and the entire corpus is secured by collateral cover maintained above 1.5x of receivables.

The minimum investment size for this opportunity is INR 15 lakh with an 11% Internal Rate of Return (IRR). The investment is a 4-year structured product that gives investors monthly interest returns and 25% of the principal will be repaid each year. This transaction will be fully supervised by a SEBI Registered debenture trustee.

MYRE has seen rising interest for real estate debt products with its last two structured debt opportunities closing in under 25 days. After the successful launch of those two opportunities under the Lease Rental Discounting framework in the last quarter, Loan Against Property (LAP) is the second framework launched under the structured debt vertical.

Structured debt enables businesses, enterprises, and corporates to raise non-dilutive capital whilst also enabling investors to participate in secured high yield opportunities. Traditionally, LAP has been one of the most secured forms of collateral backed lending considering relatively low GNPA & NNPA statistics.

MYRE gives investors an opportunity to participate in curated institutional grade opportunities in collaboration with leading financial institutions. Most importantly, the LAP framework provides the transparency & security of hard collaterals to the investor and the capability of better financing options for the financial institution.

Speaking on the launch of the new investment opportunity, Aryaman Vir, Founder & CEO of MYRE Capital said “Since the launch of our debt vertical last year, we have seen significant interest from investors in debt opportunities backed by real estate assets. Alternative real estate investments offer a good mix of return and safety versus other competing asset classes.

We are very excited to, hence, launch our second framework under the debt vertical which will offer accredited investors an opportunity to earn risk adjusted returns. Offering a return of 11% IRR, the investment product is secured by strong collaterals of over 1.5x of receivables. A market leader in South India, our partner financial institution has been conducting business since last 10 years, and offers Loan Against Property to retail investors.

Vir added, “We see immense appetite and potential for growth for neo-realty products in India and we aim to scale the structured debt vertical to INR 350 crores by the end of CY2023. We are working on bringing multiple products in the real estate sector for our investors to help them diversify their portfolio and create wealth. Together with Fractional ownership, we are on track to achieve an AUM of INR 1,000 Crores this year.”

About MYRE Capital:

MYRE Capital, is India’s first Neo-Realty investment platform that provides access to curated and differentiated investment products in the Commercial Real Estate Sector. Each asset is shortlisted based on stringent criteria involving predictive analytics across 150+ data points, 25 years of industry expertise, and our proprietary technology solutions. The company was founded by Mr. Aryaman Vir with his expertise in technology, finance, and real estate. Currently, MYRE Capital has an AUM of INR 250+ crore.

MYRE Capital provides real estate owners and developers a reliable source of stable finance whilst providing potential investors and stakeholders with end-to-end investment management and execution thus enabling them to redevelop trust in this asset class and reposition the Indian real estate market on a global platform.

Introducing Nokia X30 5G, Our Most Eco-Friendly Smartphone With Low-Light Imaging

* Made with recycled materials, Nokia X30 5G delivers our smallest eco-footprint to date.

HMD Global, the home of Nokia phones, today launches Nokia X30 5G, their most eco-friendly smartphone yet. The new planet-friendly design has a 100% recycled aluminium frame and a 65% recycled plastic back. With zero compromises on the phone’s performance, Nokia X30 5G comes with premium features including our best-ever PureView photography and a 6.43” AMOLED PureDisplay designed to better fit in your hand, pocket or purse. Plus, it’s protected by the ultra-tough Corning® Gorilla® Glass display.

Sanmeet Singh Kochhar, Vice President- India & MENA, HMD Global:

“We are delighted to introduce a flagship smartphone that is eco-friendly to its core. Moreover, Nokia X30 5G is our smallest eco-footprint device to date! We continue to strive for greater sustainability with each device. After the successful launch of Nokia G60 5G in our sustainable class of devices, we are excited to introduce another Nokia smartphone with a key focus on minimising carbon footprint, along with great performance and specs. Not only does Nokia X30 5G deliver the best PureView photography with our best-ever low light imaging, it also comes with 3 years of OS upgrades and monthly security updates1 and can also be relied upon with its signature two-day battery life. Nokia X30 5G embodies our passion for helping our users keep their devices for longer.”

The most eco-friendly Nokia phone yet – inspired by nature, built to protect it

Designed in Finland and built from a 100% recycled aluminium frame and a 65% recycled plastic back, Nokia X30 5G is our most eco-friendly smartphone yet, right through to the box it comes in. Less plastic, fewer chemicals, more good stuff. Packaging also made using 100% FSC certified and 94% recycled paper box, we are promoting responsible forestry and supporting a circular economy. This all means that Nokia X30 5G delivers the smallest eco footprint of a Nokia phone to date.

Nokia X30 5G has been built to push the limits of smartphone life-expectancy. It is protected by a big 3 years of warranty3 and delivers 3 OS upgrades. Plus, it's designed for every-day life, with a robust metal frame and a tough display. The phone comes with IP67 dust protection and water immersion up to 1m for 30 minutes.

Packed with new, game-changing features

Take breath-taking imagery with the big pixel 50 MP PureView camera clubbed with a 13MP Ultra-Wide camera which uses AI and Optical Image Stabilization (OIS) to capture content in even higher detail. It’s complete with an all-new, intuitive dropdown menu giving you faster access to most used camera settings. Capture Fusion brings the power of the main camera to your ultra-wide-angle shots, for more details in the center of the picture, while Night Mode 2.0, with Dark Vision, Tripod Mode and Night Selfie, give you sharper and more vibrant shots, even after sundown. While you get some amazing low light photographs with your rear camera thanks to the Night Mode 2.0 & Dark Vision, the 16MP front selfie camera also captures some amazing selfies.

The camera is also protected by Corning® Gorilla® Glass with DX+, permitting 98% of all light through the lens to deliver industry-leading optical performance, and scratch resistance. Because the more light you get in, the better images you get out.

Sporting the best display on a Nokia phone yet, Nokia X30 5G with its 6.43” 90Hz PureDisplay, Under display fingerprint sensor delivers a smoother, more responsive experience. The AMOLED PureDisplay technology means more brightness and vibrant colours to make streaming, scrolling, browsing, and holding the device, a joy.

Power up faster than ever before with 33W fast charging4 and enjoy the signature two-day battery life2, remaining healthy even after years of charging. Equipped with Qualcomm® Snapdragon® 695 to optimise the potential of 5G, Nokia X30 5G is ready for long-term use.

The Nokia X30 5G also comes with the GoPro Quik App preinstalled so you can shoot, edit, and share your creativity from anywhere.

Safe, secure and up to date for years

Three OS upgrades as standard means you can enjoy new features way beyond Android™ 12. Equipped to store the most private and personal information securely Nokia X30 5G has up to three years of monthly security updates1 guaranteed so you can have peace of mind.

For businesses – Nokia X30 5G is verified by Google Android Enterprise Recommended.

Pricing and availability

The Nokia X30 5G is available for pre-booking in India from today in Cloudy Blue or Ice White at a limited period launch price of INR 48,999 in 8/256 GB memory/storage configuration. Nokia X30 5G will go on sale exclusively on Amazon and Nokia.com from 20th February.

Nokia X30 5G would come with an amazing launch offer worth INR 5799, which includes a 33W fast charger and Nokia Comfort earbuds complimentary with each purchase, along with key bank offers and exciting exchange offer.

Mahindra Announces Nation-Wide Mega Service Camp For Its SUV Range

Mahindra & Mahindra Ltd., pioneers of the SUV segment in India, has announced a nationwide mega-service camp for its full range of SUVs. Titled M-Plus, this grand customer-centric initiative will run from February 16 – 26, 2023 in over 600 Mahindra-authorized workshops across the country.

Mahindra is offering unmissable offers during the Mega Service Camp. The bouquet of special offers include:

1.      5000+ Free Services

2.      75 Points Free Check Up

3.      Additional Discounts on Spares, Labour, Maxicare, Accessories etc. 

The M-Plus Mega Service Camp will provide Mahindra owners with the opportunity to ensure that their vehicles are in top condition. Customers can avail of an exhaustive 75-point check on each vehicle, through trained technicians.

With Mahindra's Contactless Service, customers can also choose to get digital repair orders and invoices, thus saving paper with each service. On Mahindra's With You Hamesha app, users can access their entire vehicle history online and digitally stored SUV-related documents as the app is seamlessly integrated with DigiLocker. This eliminates the need to print and carry paper during the time of service. With You Hamesha app also provides easy service booking, service stage tracking, online payments, SOS requests and other convenient features. App download link - https://bit.ly/WYHdownload

Additionally, all the workshops are equipped to carry out Qwik service, where periodic maintenance and minor repairs will be done within 90 minutes. Customers can avail this facility at the Mega Camp with a prior appointment. Customers can also book an appointment on Mahindra’s With You Hamesha’s WhatsApp account or via the app and avail free pick-up and drop.

Social Media Addresses:

·         Brand website: https://auto.mahindra.com/

·         Twitter: https://twitter.com/Mahindra_Auto

·         YouTube: https://www.youtube.com/@MahindraAutomotive

·         Instagram: https://www.instagram.com/mahindra_auto

·         Facebook: https://www.facebook.com/MahindraAutomotiveIndia/

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate. 

The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room.