vivo Y91 and Y91i Available at Exciting New Prices Across India

vivo, the global innovative smartphone brand, today revised the prices of two smartphones in its Y series - Y91 and Y91i.  These power packed devices deliver the best of smartphone technology at an even more affordable price point. The devices are equipped with a high capacity 4,030 mAh battery further complemented by an exclusive smart power management system so that users don’t have to worry about running out of power. With the 13MP + 2MP dual Camera in Y91 and rear 13 MP camera in Y91i, the devices let you click pictures the way you want and the 8MP Front Camera ensures the perfect selfie shot. Additionally, Y91 has AI face beauty which detects gender, age, skin tone and lighting for beautiful pictures. The smart Y91and Y91i are available at a best buy price of Rs. 8,990 /- & Rs. 7,990/- respectively.

The stylish Y91 and Y91i smartphones come with an IPS LCD display and screen that can vividly display over  16M colours. Both the devices are equipped with powerful 2 GHz Octa core processor and 2GB RAM that enables the user to multitask smoothly. Y91 and Y91i run on Android Oreo 8.1 and comes with a 32GB memory expandable up to 256 GB.

The smartphones are a great blend of style and class which makes the smartphone appear very sleek. Connectivity options include 4G, VoLTE, 3G, Wi-Fi, Bluetooth, USB On-The-Go and GPS. The unique finger print scanner feature provides the smartphones with an impenetrable security that can be surpassed only by the user. vivo Y91 and Y91i will be available through  all brand outlets across the country.

IT Services Major Cognizant Reported Disappointing March 2019 Quarter on All Counts

CTSH delivered weak revenue growth, missed margin targets and reported decline in cash generation in March 2019 quarter. CTSH has cut CY2019 c/c revenue growth guidance to 3.6-5.1%, down from 7-9% at the beginning of the year citing weakness in banking, healthcare and weaker execution. Delivering on medium term goals laid out at the analysts’ day seems challenging. Turnaround themes have their set of challenges; CTSH seems to be going through one with broad-based slippages.

Cognizant misses revenue growth guidance for March 2019 quarter

CTSH reported constant revenue growth of 6.8% in c/c, lower than guidance range of 7.5-8.5% for March 2019 quarter. On organic c/c basis growth was 4.2%. On a sequential basis, CTSH reported revenue decline of 0.5% to US$4.11 bn. Management indicated that revenue growth started weakening towards the second half of the quarter. The magnitude of miss for the quarter was surprising noting that guidance was laid out in the first week of February. The revenue miss was contributed by the slowdown in growth to a trickle in financial services (0.2% yoy c/c growth, 1.5% qoq USD revenue decline) and healthcare (+4.6% yoy in c/c, negligible excluding Bolder acquisition and down 3.1% qoq in USD terms). Other vertical continued robust performance. GAAP EBIT stood at 13.1% and had 290 bps impact from the recent Supreme Court of India ruling on Defined Contribution Obligation; CTSH has accrued impact of the ruling assuming retroactive application. Adjusted EBIT margin of 16% fell short of guidance primarily due to flow through impact of weaker revenue growth.

Steep cut in CY2019 revenue growth guidance, adjusted EBIT margin guidance band cut 17%

CTSH has cut CY2019 revenue growth guidance to 3.6-5.1% in c/c (guidance includes inorganic component), down from 7-9% growth guidance set out at the beginning of the year. Revised guidance bakes in 170 bps contribution from inorganic growth. Cut in guidance captures—(1) slowdown in the financial services vertical (35% of revenues) that was broad-based. Revenue decline from three of the five large banking clients continued. Regional banks are turning more cautious on spending outlook. M&A in regional bank client base also impacted revenue growth outlook. Guidance does not assume any recovery or deterioration in the financial services business and (2) healthcare vertical (28% of revenues) was impacted by M&A in the client base, accelerated movement of work to a captive center at a large North American client. Revised guidance assumes 0.5-2% sequential revenue growth in 3Q-4Q of CY2019. CTSH also cut adjusted EBIT margin guidance to 17% from 19% for CY2019. The company attributed the entire shortfall to weaker revenue growth outlook relative to initial expectations. EBIT margin expectation for 1HCY19 stands at 16% with recovery expectation in 2HCY19 (implied closer to 18%). CTSH cut CY2019 adjusted EPS guidance by 10-12% with a revised number that stands in a range of USD3.87-3.95/ share. CTSH expects to deliver 3.9-4.9% revenue growth in constant currency for June quarter.

Turnaround themes are difficult; CTSH has a few challenges at hand

CTSH’s poor performance surprised us. Weak revenue growth and guidance cut reflects execution challenges at CTSH rather than industry wide growth slowdown. The transition to a profitable growth model initiated a couple of years back had its share of challenges which have been compounded by slippages in execution. The new CEO has a challenge at hand. We would not be surprised with a few leadership changes, common in any turnaround effort. Against this backdrop, ability of the company to deliver board-backed medium term revenue growth target of 7-11% and EBIT margin of 19% with 10 bps expansion every year seems unrealistic to execute in the near term.

Timing the turnaround themes is challenging. CTSH stock may seem inexpensive after the potential correction in stock price but will have its share of bumps in performance and disappointments.

Read through for other IT services companies

Large part of the slippages seems specific to CTSH and not representative of growth across the industry. However the risk to industry growth from the financial services vertical cannot be denied. Clients in the capital market segment of banking have turned a bit more cautious in spending outlook. In addition spending by regional banks in the US is also turning cautious. Other segments of financial services are steady in our view.

Key highlights from earnings call

* Commentary on BFSI: BFSI vertical registered flay yoy growth in constant currency. The vertical is affected by insourcing among CTSH’s BFSI clients. The company reported conservatism in spending among several regional banking clients in North America with some banks impacted by M&A activity. Slowdown in decision making particularly around larger deals in the pipeline due to executive transitions in several clients impacted growth in insurance. Softness in three out of the top five clients is expected to continue in the near term. Management expects pressure on banking spends in 2HCY19 due to moderating growth outlook in the business.

* Life sciences and healthcare. M&A related activity accelerated movement of work to captives in a large client and ramp down of an account in which CTSH is a subcontractor impacted growth in the vertical. The company expects further deterioration in the next quarter and reported sluggish outlook for the full year. Softness was mainly in the healthcare payers business. The company reported strong double-digit growth in life sciences sub-vertical.

* Commentary on products and resources and communication & media verticals. The company reported strong double-digit constant currency growth in retail and consumer goods, travel and hospitality as well as in manufacturing, logistics, energy and utilities. Retail sub-vertical was strong despite bankruptcies in a few smaller clients. Growth in digital services for media and entertainment clients offset slower growth in the communication industry which is affected by consolidation trend.

* Margin levers. The company expects margins to improve in 2HCY19 on the back of procurement optimization, better utilization, improved pricing, simplification of business unit overhead structure, rationalization of delivery costs and shift to higher value services such as digital

* Digital. Digital business now accounts for 33% of overall revenue and is the primary driver of growth. Digital revenue growth in the quarter was strong at 20+%. Core modernization, digital engineering, AI and analytics, intelligent process automation, platform solutions, interactive customer experiences and IoT form the core of Cognizant’s digital strategy

* Senior management. Ex-CEO Frank D’ Souza who is currently in the role of Executive Vice Chairman will transition to Vice Chairman of the Board at the end of June 2019. Raj Mehta has stepped down as president. Malcolm Frank has been appointed as the new President of Cognizant’s digital business. Prasad Chintamaneni, EVP and President of Global Industries and consulting will additionally manage the banking business on an interim basis.

Week-Long Bamboo Art Exhibition by Uravu Inaugurated at Karnataka CKP Until May 7

‘Hiraeth: A Pining for the Past’, a first of its kind 6 day exhibition of bamboo installations organized by ‘Uravu Indigeneous Science and Technology Study Centre’ was inaugurated by internationally acclaimed painter and Artist-CuratorShri Bose Krishnamachari. The exhibition will be open to the public until May 7th at Karnataka Chitra Kala Parishat, Bangalore.

‘Hiraeth’ is an exploration in bamboo that aims to reinforce the credentials of bamboo as a sustainable medium of art. Lenin.CP, the chief designer at Uravuaims to recreatethe forms and frames of life in bamboo. He expresses it through the idea of water and the flora and fauna of watery village lives.

‘Hiraeth’ is expected to set a platform for a series of exhibitions to be held at Chitra Kala Parishat, Bangalore, to showcase distinct artistic possibilities in bamboo that that would establish bamboo’s potential as a serious material of art. Hiraeth is presented by Eleganz Interiors pvt ltd

Uravu is a not for profit, non-governmental organisation that strives for rural empowerment through sustainable solutions. Established in 1996, URAVU works with people, governments and businesses to facilitate initiatives with the   prime motive of sustainable development and implements focused end-to-end programs in the bamboo sector.

Linium Receives Award for Delivering Outstanding Value in Digital Transformation, innovation

Linium, a Ness Digital Engineering Company and a leading provider of digital business, engineering, experience and transformational consultancy services, has been recognized by ServiceNow as the 2019 ServiceNow Americas IT Workflow Partner of the Year. The achievement is the result of demonstrating overall excellence in expanding the breadth and depth of its IT Transformational Cloud Practice size.

The ServiceNow Global Alliances and Channel Ecosystem recognizes the achievements and contributions of its best in class partners who have successfully grown its ServiceNow business through transformation or innovation in business, technology and customer success. This year's awards are based on partner performance in 2018 – a combination of revenue contribution, product line expansion, workflow and skill growth, and business innovation or transformation.

“Always doing the right thing for our customers, employees, and partners is core to Linium’s culture and integral to sustained success,” said Joe Burke, president, North America at Linium. “This award reflects our comprehensive approach to helping our customers leverage ServiceNow as part of their overall digital business strategy. Our deep roots in software engineering help us guide our customers and take into account a range of areas from data and analytics to DevOps and automation. Today’s organizations need to elevate employee experiences and reshape customer service, and Linium is fully committed to making this a reality for our customers.”

With over 3,500 successful enterprise transformations since its inception in 2000, Linium enables modern workforce experiences and empowers organizations to make better decisions faster by enhancing collaboration, reducing manual tasks, aligning work to business priorities, and resolving issues quickly and proactively. Converging 4,000+ strategic thinkers, exceptional technologists, and user experience experts from around the globe, Linium is dedicated to creating the most value-driven experience for its customers by applying non-traditional thinking to solve traditional business challenges. From designing cutting-edge modern service experiences to mitigating compliance risk; gaining financial visibility to resolving security threats; building custom applications to managing operations, Linium solves complex business challenges across the enterprise.

JK Tyre Unveils Blaze Rydr for Premium Indian Motorcycles

Indian Tyre Industry major, JK Tyre & Industries Ltd has launched a new variant in their motorcycle range - ‘BLAZE RYDR’ for premium motorcycles, fulfilling the aspirations of riders to experience advanced quality, attractive design and better performance. BLAZE RYDR comes with rigid shoulder design for better grip, cornering stability and a specialized tread pattern for better traction and smart water channeling.

The BLAZE RYDR BR43 has been developed in size 140/70-17 Tubeless for performance oriented customers who are riding in the cities and highways. The new tyre has advanced cross over groove pattern for enhanced performance, and is developed with superior tread rubber. The tyre will allow the riders to experience comfortable ride with TOTAL CONTROL.

Mr. Vikram Malhotra, Marketing Director, JK Tyre & Industries Ltd, said, “We develop products that enhance our customers’ driving and riding experience. We have entered the two-wheeler tyre segment recently and the response from the market has been very encouraging. The BLAZE RYDR BR43 is another addition to fulfill the requirements of higher CC motorbike riders and we are confident that it will further improve the riding experience of customers. This further reinstates our commitment to meet the emerging needs of the market and introduce tyres that help to maintain pace with changing market requirements.”

The BLAZE RYDR BR43 is available across JK Tyre authorized dealers in the country.

JK Tyre’s BLAZE range is 100% run-out tested against Vibration and Wobbling. These tyres have been tested in rigorous ride and handling conditions on the race tracks by professional Riders to determine speed, precision and consistency. The complete Blaze 2W Tyres range comes with Lifetime Warranty against manufacturing and non-manufacturing defect under terms and conditions.

Toyota Kirloskar Motor Sells 11413 Units in the Month of April 2019

In the month of April 2019, Toyota Kirloskar Motor sold a total of 10,112 units in the domestic market. The company exported 1301 units of the Etios series this month thus clocking a total of 11,413 units.  Toyota Kirloskar Motor sold a total of 13037 units in the domestic market this month of April 2018. The company exported 834 units of the Etios series this month thus clocking a total of 13871 units.

Commenting on the sales performance, Mr. N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, “The industry is currently experiencing a slowdown due to uncertainty of upcoming general elections that looms over the market and this slow pace is expected to continue until the new government is formed. Consumer sentiments has currently dampened due to several factors like tight liquidity, high insurance, high costs.

We hope the sales growth momentum to pick up in the upcoming months post election results are out.”

Experience Dubai's Different Light this Summer with My Emirates Pass

Emirates customers across India will be able to unlock the best Dubai has to offer for less this summer with the return of My Emirates Pass. Passengers traveling to the booming metropolis will be able to use their Emirates boarding pass as an exclusive membership card providing travelers special offers and discounts of up to 50% off in more than 500 leisure and retail outlet locations across the UAE.

Passengers flying to and through Dubai between 1 May and 31 August 2019 can take advantage of My Emirates Pass by simply presenting their boarding pass and a valid form of identification* in any of the participating outlets.

Dubai offers some of the best retail and shopping options in the world and the My Emirates Pass makes those options even more attractive; passengers can redeem up to 30% off at international retail outlets including popular fashion and fitness brands. Going beyond retail the pass confers benefits at spas, restaurants and wellness centers. Boarding pass holders can redeem up to 50% off in over 400 fine dining restaurants and luxury wellness centers.

The pass also allows travelers to throw themselves into Dubai’s diverse and delicious dining scene.  And once they have eaten their fill passengers will find discounts on activities like indoor skiing and water amusement parks unlocked by the My Emirates Pass. There is no better way to get to the heart of all Dubai has to offer.

Mohammad Al Hashimi, Emirates’ Vice President, Commercial Products Dubai, said: “The Emirates Pass puts Dubai’s ever-growing list of attractions and experiences at our customers’ fingertips. Whether they are here for a week or weekend, there is something for everyone to experience and see – for less.”

Dubai is an ideal stopover and holiday destination for families and solo travellers. Visitors to Dubai will be awed by the eclectic buildings, iconic landmarks, world-class shopping and delicious international cuisine.

Essa Sulaiman Ahmad, Emirates’ Vice President, India & Nepal said, “We are thrilled to bring the My Emirates Pass to our Indian customers. We know they will be excited about this offer – they know how much Dubai offers – but even for those who think they know the city this year’s My Emirate Pass will allow them to discover more and go further than they have before.”

Emirates connects its passengers to more than 150 destinations, in 86 countries, across 6 continents via a seamless stopover in Dubai. Passengers travelling in all classes can enjoy regionally inspired meals, 4,000 entertainment channels on ice – the airline’s award winning in-flight entertainment system - and up to 20MB complementary Wi-Fi to stay connected with friends and family during the flight.

For more information on Emirates, including how to book flights and a complete list of terms and conditions for this offer, visit www.emirates.com.

*Local terms and conditions apply