455 Students Were Awarded PGDM Certificates At GIM's Convocation Ceremony

* The first batch of the PGDM-BIFFS students successfully completed the management programme 

Goa Institute of Management (GIM) held its annual Convocation ceremony at its campus in Sanquelim where certificates were awarded to 455 students across 5 management programs for successfully completing their Post Graduate Diploma in Management.  

This year's ceremony was special as it was a first for the students of PGDM-BIFS (Banking Insurance and Financial Services), a program that commenced in 2020. 

The Chief Guest for the ceremony was Professor Anil D. Sahasrabuddhe, Chairman of the AICTE. Also in attendance were multiple dignitaries from the academic world, faculty and students.  

Ashank Desai, Chairman of the GIM Governing Board who delivered the presidential address on the occasion shed light on the vision of the Institute, saying, "Our vision at GIM is to be a preeminent technology teaching and research Institute at the forefront. We want to build transformative leaders and aid in building a sustainable future for the world. GIM is an Institute that everyone should be proud of having associated with."  

While presenting the Director's Report on the institute’s performance for the last academic year, Dr. Ajit Parulekar, Director of GIM emphasized on the various accomplishments by the Institute. Highlighting the institute's constant community-led initiatives, he said "An important thing I'd like to talk about is the contribution of the entire GIM community through the 'GIM Cares' effort. We have a large alumni support group in association with GIM faculty and staff. We launched 'gimcares.org', a portal which was able to handle support-related requests from all over the country. We are extremely proud of this initiative "  

GIM’s sustainability initiative, ‘GiveGoa’ was lauded by the Chief Guest, Mr. A. Sahasrabuddhe for its contribution to the society and environment of Goa. 'GiveGoa' was started by GIM as a way to increase social awareness and responsibility among the budding entrepreneurs of tomorrow. It is operationalized as a compulsory 4-credit course in the first year of the PGDM program. 

455 students were conferred diplomas from Dean of Academics Dr. Neeraj Amarnani, which were thereafter handed to them by their respective programme chairs. Silver and gold medals were awarded to students who made a significant mark in academics as well as extracurricular activities.  

Over the years, GIM has earned its position as one of the top B-schools in the world. With roaring success in terms of a shining alumni list, GIM boasts of its state of the art infrastructure and dynamic curriculum. The driven faculty at the institution ensures that the courses are in sync with the transitional industry requirements. Striving to maintain a balance between academics and extracurricular activities, the GIM campus is not only a stunning visual but it's loaded with excellent learning tools and sports opportunities for its students.  

eMudhra Limited’s Initial Public Offering (IPO) To Open On May 20, 2022, Sets Price Band At Rs 243 to Rs 256 Per Equity Share

 

·         Price Band:  Rs 243 – Rs 256 per equity share.

·         Bid/Offer Opens:  Friday, May 20, 2022

·         Bid/Offer Closes: Tuesday, May 24, 2022

·         Bid Lot: 58 Equity Shares

·         Pre-IPO placement of 1,603,617 Equity Shares for a cash price of  ? 243.20 per Equity Share for an aggregate amount of  ? 39 crores to Baring Private Equity India AIF 2, Acacia Banyan Partners, Motilal Oswal Equity Opportunities Fund Series III, Negen Capital Services Private Limited, Value Wise Consultancy Private Limited, Jagadeesan Kumar, and Krishna Kumar.

·         Approx. IPO Size: Rs 412.79 crore (Fresh  Rs 161 crores + OFS ?251.79 crore)

·         Fresh Issue  Rs 161 crore

·         OFS: 9,835,394 shares

·         Anchor Date: Thursday, May 19, 2022

·         QIB allocation: not more than 50%

·         NII allocation: not less than 15%

·         RIB allocation: not less than 35%

·         IIFL Securities Ltd, Yes Securities (India) Ltd and Indorient Financial Services Ltd are the Book Running Lead Managers to the issue.

About eMudhra:

eMudhra is the largest licensed Certifying Authority (“Certifying Authority” or “CA”) in India with a market share of 37.9% in the digital signature certificates market space in FY 2021 having grown from 36.5% in Financial Year 2020, as per the Frost & Sullivan Report. It is a one stop shop player in secure digital transformation.

Since inception it has issued over 50 million digital signature certificates catering to 1.43 Lakh retail customers as of December 31, 2021, through its 91,259 channel partners for Digital Trust Services spread across various States and Union Territories in India, and out of its 539 system integrator partners, 267 were present in India and balance present internationally across United States of America, Europe, Middle East and Africa and Asia Pacific, where it provides its solutions and services.

It also offers services and digital products to various government agencies and state governments and thereby is a key player in enabling paperless transactions as part of Digital India. Some of its customers include Infosys Limited, Tata Consultancy Services Limited, Mashreq Bank, Baud Telecom Company, Cholamandalam MS General Insurance Company Limited, Bharti AXA Life Insurance Company Limited., operating in various industries such as banking, insurance, telecom, information technology, etc.

The company reported a jump of 13% in its revenue from operations to Rs 131.59 crore for the year ending December 31, 2021 from Rs 116.45 crore in the previous year, primarily due to increase in the revenue from operations of the company as a result of international expansion. The company’s profits grew 37.70% to  Rs 25.36 crore for the Financial Year 2021 from  Rs 18.42 crore for the Financial Year 2020. For the nine-month period ended December 31, 2021 revenue from operations stood at 137.24 crore, and net profit stood at Rs 30.34 crore.

PSA India Aids Akshaya Patra’s Fight Against Hunger, Sponsors Over 5,000 School Meals

* PSA India’s donation will help serve 5,333 meals to government school children in Gujarat, Maharashtra, Delhi and Tamil Nadu for a year and provide Family Happiness Kits to 1,666 families in West Bengal

Continuing their pre-Covid alliance to fight hunger, PSA India, a leading global port operator and cargo solutions provider, and The Akshaya Patra Foundation have once again come together to feed the needy. PSA India will sponsor meals for school-going children from underprivileged communities and ration kits for needy families.

Aiding Akshaya Patra’s mid-day meal programme, which is one of the largest such initiatives run by any NGO, PSA India’s Rs 1.08 crore donation will help serve 5,333 hot, nutritious meals to government school children from underprivileged communities in Gujarat, Maharashtra, Delhi and Tamil Nadu for a year. Additionally, this partnership will provide Family Happiness Kits to 1,666 families in West Bengal. These kits contain food essentials, basic hygiene products and stationery items.

Extolling the collaboration that fulfills a common goal, Mr. Gobu Selliaya, Managing Director, PSA India, said, “We are delighted to renew our association with Akshaya Patra following our first involvement at the end of 2019. We support their mid-day meal programme and Family Happiness Kits initiative as part of PSA India’s Corporate Social Responsibility (CSR) programme. Akshaya Patra is a leading NGO which is making an invaluable contribution supporting the health and nutrition of children across the nation and it already provides over 1.8 million lunchtime meals for children.  It is active in every state in which PSA India operates - namely Gujarat (PSA Honeycomb), Maharashtra (PSA Ameya and PSA Mumbai), Delhi NCR (PSA Cargo Solutions India), Tamil Nadu (PSA Chennai and PSA Sical) and West Bengal (PSA Kolkata). Along with our CSR initiatives in those locations, we are very pleased to contribute towards the outstanding work done by the foundation.”

PSA India has had a long-standing and enriching relationship with Akshaya Patra. In 2019, PSA India donated Rs 14 lakh that helped serve food to 1,273 beneficiary children in Bangalore for an entire year. In 2020, PSA India supported Akshaya Patra’s Breakfast Program with a donation of Rs 5 lakh that helped TAPF distribute hot and nutritious meals to 455 beneficiary children studying in government schools in Chennai. 

Appreciating the partnership, Mr. Sundeep Talwar, CMO, The Akshaya Patra Foundation, said, “We are immensely grateful to PSA India for their generous donation as this will help India and us fight age-old maladies like hunger and malnutrition. Their unrelenting efforts in joining us in our mission will go a long way to usher in a brighter, healthier future. Our mission is not just aimed at feeding school children. We want to contribute to their all-around development. Our aim to provide them with the nutrition they require to live well and develop can only be achieved through partnerships like these.”

PSA India’s CSR activities for the past year has focused mainly on providing education to the needy and on Covid-19 relief. PSA India has arranged for hostels for girls from remote villages, day care for disabled children, essentials for schools; it has also set up hospital beds and made provisions for oxygen concentrators and necessary medicines to critical Covid-affected patients.

About PSA India

PSA India is a subsidiary of PSA International (PSA), a leading port group and trusted partner to cargo stakeholders. With flagship operations in Singapore and Antwerp, PSA’s global network encompasses over 50 locations in 26 countries around the world. The Group’s portfolio comprises more than 60 deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses and marine services. Drawing on the deep expertise and experience from a diverse global team, PSA actively collaborates with its customers and partners to deliver world-class port services alongside, develop innovative cargo solutions and co-create an Internet of Logistics.

PSA is an early participant of India’s privatisation program in the container terminal sector with the first investment in Tuticorin Container Terminal in 1998, followed by subsequent investments in container terminals in Chennai (2007), Kolkata (2014) and Navi Mumbai (2014). In 2021, PSA India extended its range of service offerings with investments into Ameya Logistcs (Mumbai) and Honeycomb Logistics (Mundra) CFS.

About The Akshaya Patra Foundation

The Akshaya Patra Foundation is a not-for-profit organization that strives to address classroom hunger and malnutrition in India. As the implementing partner of the Government of India’s flagship school feeding programme, through its relentless commitment to creating a secure and educated future, the Akshaya Patra has grown from serving just 1,500 children in 5 schools in 2000 to over 1.8 million children in 19,039 government and government-aided schools from its 61 kitchens across 14 States and 2 Union Territories. Through this scheme, Akshaya Patra aims to fight hunger and, at the same time, bring children to school.

Since 2000, Akshaya Patra has worked towards reaching out to children with wholesome food every single school day. The Foundation is continuously leveraging technology to cater to millions of children.

As part of its Covid-19 relief efforts, in 19 states and 4 UTs, the foundation has served over 24.04 crore meals since March 2020 in the form of freshly cooked food and food relief kits with essential groceries. Akshaya Patra has also organized free vaccination drives for the underprivileged.

Zee & Give India Launch ‘Born To Shine’ Scholarship To Give Wings To young Art Prodigies

It’s never easy to excavate diamonds out of coal mines. In a country of 1.3 billion people, spotting young talent and nurturing it is equally difficult. This is where Zee CSR along with Give India has come together for ‘Born to Shine’ initiative -- a launchpad for talented budding child artists. The initiative seeks to make a difference by recognising young talent in Indian art forms and providing scholarships to help them shine. The scholarship is a way of empowering girls and attempting to revive Indian art forms.

India, as a country, offers abundant talent especially when it comes to myriad art forms, but very rarely are these talents recognised and honoured. This has led to a fall in number of artisans in various art forms as there is a lack of motivation among artists who are apprehensive about nurturing their talent with limited means. Born to Shine aims to break these barriers and also help young girls realise their ambitions of emerging as India’s next generation role models. We want to ensure that child prodigies get the complete care and attention they deserve to be able to achieve their fullest potential.

Through Born to Shine, we are not just offering scholarships but also creating an ecosystem where we can identify, nurture and guide child prodigies to success. Zee has always been focused on creating the extraordinary and in joining hands with Give India, we have now got a chance to nurture and mentor extraordinary talent.

Who can apply?

Any girl who has achieved mastery in any art form and is below 15 years can apply for the Born to Shine scholarship. The reward is a scholarship of three years that will ensure these prodigies can reach their fullest potential. The 6 weeks application process will be open across all languages and geographies and will help in shortlisting 100-300 child prodigies. The top thirty across the country will receive scholarship for honing their skills and accomplishing maestro status.

Through this initiative, we plan to reach out to more than 60,000 schools and make selections without any kind of bias or discrimination. Both virtual and physical format will be used to select the candidates.

Mr. Umesh Kr Bansal, Executive Vice President, Zee Entertainment Enterprises Limited said, "As a brand, we are always striving unwaveringly to deliver excellence. We are constantly pushing ourselves to make the world a better place through meaningful actions that drive impact. Born to Shine is a fruit of that attempt, and we hope this initiative will help us make a big difference to the world of artists and child art prodigies. Seeing them excel would give us tremendous joy because there's nothing quite exciting as achieving the impossible."

To register, click on this link:- https://borntoshine.in/apply/

Nestlé a+ Launches Mishti Doi With jaggery Across Indian Market

Nestlé a+ Mishti Doi with jaggery is a category-first innovation, launched this summer. The product is deliciously creamy and smooth, with a distinct caramelized taste of jaggery.

Commenting on this new launch Mehernosh Malia, Head  – Dairy Business, Nestlé India said, “The taste of traditional mishti with gur is something special . Nestlé a+ Mishti Doi with jaggery is our attempt to bring this delightful experience to our consumers. Along with its traditionally known goodness, jaggery also has a distinctly rich texture which lifts the taste of our new Nestle a+ Mishti Doi.”

Nestlé a+ Mishti Doi has been launched in Delhi NCR and from July’22 onwards, will be available in Mumbai, Bengaluru and Hyderabad.

Honasa Consumer Acquires Majority Stake In Skincare Brand Dr Sheth's

Honasa Consumer Pvt. Ltd. (HCPL), the parent company of Mamaearth, and The  Derma Co., and the fastest-growing House of Brands for personal care, has acquired Dr. Sheth’s, a  dermatologist-formulated premium skincare brand designed exclusively for Indian skin by three  generations of skin doctors. Through this acquisition, HCPL has control of the majority stake in Dr. Sheth’s  at a valuation of INR 28 Cr. The primary round of funds will be directed to accelerate future growth of the  brand.  H

The products of Dr Sheth’s have been developed with expertise accrued by 3 generations of accomplished cosmetologists and dermatologists. Dr. Sharat Desai, probably India’s first dermatologist, worked to put  India on the map for the field of dermatology. Following in the father’s footsteps, his daughter, Dr. Rekha  Sheth, became India’s first cosmetic dermatologist and one of the preferred dermatologists by Bollywood  celebrities. Dr. Aneesh Sheth, PhD Pharmacology and an Ivy league trained cosmetic scientist, founded  Dr. Sheth’s with the ambition of formulating skincare products using the knowledge aggregated over three  generations and bringing the best of nature and science together. 

The products are formulated knowing that Indian skin is unique and requires specialized care. The brands’  product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many  others. Some of the popular products by the brand are -Amla VC20 Vitamin C Serum, Haldi and Hyaluronic  Acid Sleeping Mask, Cica and Ceramide Overnight Repair Serum, among others. With over 30+ SKUs, the  brand has catered to over 200,000 consumers.  

Millennials are evolving and there is a growing appreciation for sophisticated ingredients. While they seek  comfort in traditional Indian ingredients in skincare, they also want to go beyond the conventional and  experiment. Dr. Sheth's has identified this void and created a portfolio of products that blend natural  ingredients with science-based active ingredients, providing the best of both worlds. With a digital-first  approach Honasa Consumer Pvt. Ltd. (HCPL) has established its leadership in understanding millennial  consumer behavior and launching and successfully scaling consumer brands with a strong millennial  connect. The expertise of Dr. Sheth’s in creating specialized skincare for Indian consumers, coupled with 

the digital expertise of HCPL, will help scale the business of Dr. Sheth’s and further strengthen the  leadership of HCPL in digital-first brands.  

While HCPL has control of the majority stake in Dr. Sheth’s, Dr. Aneesh Sheth will continue to lead the  business and product innovation for the brand.  

Commenting on the acquisition, Varun Alagh, Co-Founder and CEO, Honasa Consumer Pvt. Ltd. said,” Dr.  Sheth’s is a brand that is synonymous with heritage and legacy, and we are excited about this partnership  as it will help us widen our portfolio offerings under the HCPL umbrella. It will be a symbiotic relationship  wherein there will be knowledge sharing across brands and collaboratively build the brand and its product  portfolio. Being a house of brands, Honasa Consumer Pvt. Ltd. has attained expertise in building millennial  brands with a digital-first approach. We will utilize our expertise and proficiency in digital marketing to  accelerate the growth and scale growth for Dr. Sheth’s and we are confident that we will make it a 100 Cr  run rate brand in 2 years. HCPL & Dr. Sheth’s synergize on fundamental ideologies of distinctive product  innovation and strong millennial connect, we are confident this collaboration will be a success for  consumers and for both brands.” 

Honasa Consumer Pvt. Ltd. has established itself at the forefront of digital branding and marketing and  this acquisition will further strengthen the company’s strength in the millennial personal care segment.  

Commenting on the partnership Aneesh Sheth said,” We are very excited about the partnership with HCPL  - they bring a level of operational excellence that will make our expertise and our products accessible to a  wider community. Their experience as a house of brands will also help us optimize our innovation and bring  about a great range of skincare that combines the best of both worlds - science and nature. “  

Tech Mahindra Ltd: Disappointing Margin Performance; Deal Intake Remains Healthy

BUY

CMP: Rs1203  

Target Price: Rs1600

*  Tech Mahindra's Q4FY22 revenue came in line with our expectations, but EBITM missed our estimates. Revenue grew 4.9% QoQ to USD1,608mn (5.4% CC), led by Enterprise (5.8%) and CME (4.8%). EBITM declined 160bps QoQ to 13.2%.

* Net new deal wins were robust with a TCV of USD1,011mn, split across CME (USD645mn) and Enterprise (USD366mn). FY22 deal intake grew ~48% YoY to USD3.3bn. The deal pipeline remains healthy, and it expects healthy deal win momentum to continue.

* Management remains confident of sustaining revenue growth momentum on the back of broad-based demand, solid traction in the CME biz (uptick in digital transformation demand led by 5G spends), healthy deal intake and deal pipeline, and robust demand for digital engineering, cloud, data analytics and cyber security services.

* We cut our FY23/FY24 EPS estimates by 7.5%/6.8%, factoring in the Q4 performance, recent acquisitions, and lower margin assumptions. Strong revenue growth momentum and a ~4% dividend yield will support valuations, although the stock lacks near-term triggers after a big miss on margins. We maintain Buy with a TP of Rs1,600 (Rs1,730 earlier) at 22x Mar'24E EPS.