FADA Releases Navratri’ Vehicle Retail Data For Quarter 2, 2022

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for Navratri’22.

Navratri’22 Retails

Commenting on how Navratri’22 performed, FADA President, Mr. Manish Raj Singhania said, “For the first time, FADA is releasing Navratri Auto Retail figures. Overall retails increased by a massive 57% compared to Navratri’21. All categories also showed extremely high growth with 2W, 3W, CV, PV and Tractors increasing by 52%, 115%, 48%, 70% and 58% respectively.

When compared to Navratri’19 (which was prior to covid), total retails increased by 16%. Here too, all categories showed positive momentum with 2W, 3W, CV, PV and Tractors growing by 4%, 31%, 37%, 59% and 90% respectively.

Navratri retails clearly shows that customers were back in showrooms with all guns blazing after a gap of 3 years. In fact, 2W category which was continuously showing weakness when compared to pre-covid months, also registered single digit growth.

We now hope that this trend continues till Deepawali, so that apart from PV Dealers who will see a decade high during this festive, the 2W Dealers also have a good season and hence helps them liquidate their stock which they have built in anticipation of a good festive.”

Bombay Stock Exchange (BSE) Celebrates World Investor Week 2022

BSE today announced the launch of celebrations of the World Investor Week 2022 (#IOSCOWIW2022) under the aegis of SEBI and the International Organisation of Securities Commissions (IOSCO) from Oct 10, 2022, to Oct 16, 2022.

World Investor Week (#WorldInvestorWeekIndia) is a week-long global celebration promoted by IOSCO worldwide to raise awareness about the importance of investor education and protection. In India, SEBI has led the initiative and is working with all the Exchanges, Clearing Corporations, and Depositories to make this a memorable and enriching week for all investors.

To mark the beginning of World Investor Week (WIW) celebrations, a Bell Ringing Ceremony was held on October 10, 2022, in BSE’s International Convention Hall in the presence of Chief Guest, Shri G P Garg, Executive Director - SEBI, along with senior dignitaries from SEBI, leading investor associations and investors.

BSE is also hosting several activities to celebrate WIW 2022 such as daily Quiz programs with exciting prizes for investors, a Quiz exclusively for students organised jointly with the Institute of Company Secretaries of India (ICSI), promoting women investors’ participation with an all-women panel discussion featuring financial experts, six days talk show on YouTube for women investors, an AD-MAD competition where participants make impactful short videos giving message on safe investment rules, street plays giving messages about financial frauds, etc.

To celebrate the WIW 2022, BSE is also lighting up the BSE Building for all the days of the week to create awareness of this global event among investors in India’s financial capital.

While addressing the event, Shri G. P. Garg, Executive Director, SEBI, said “Investors are the most important constituent of the securities market. Investor education and protection are the key pillars that determine their participation in the securities market. SEBI as a market regulator has proactively introduced reforms and new policies/procedures with a consultative approach, keeping in mind the interests of common investors, and this a continuous process.”

He appreciated the efforts taken by BSE and all MIIs in making this event impactful through various innovative initiatives.

In his welcome address, Shri Neeraj Kulshrestha, Chief Regulatory Officer, BSE, said “The recent multi-fold influx of retail investors in the capital market during the pandemic has led to much higher participation of the retail investors in the securities market.  As such, the responsibilities of regulators have also increased to protect the interest of these Investors, and events like World Investor Week will play an important role in educating and boosting the confidence of investors.”

He appreciated the efforts taken by SEBI and all MIIs to make this global event successful, keeping the general investors at the center point.

Shri. Khushro Bulsara – Head, BSE IPF informed the gathering about various activities initiated during WIW, which reflect its continuous commitment towards creating a fair and transparent environment for investment, Investors’ education, and awareness.

Shri. Khushro Bulsara said, “We cannot stress enough on the importance of investor awareness and education in taking India to its avowed goal of a USD 5 trillion economy. Financial inclusion has to be a collaborative effort by all and investors need to be wary of get-rich-fast schemes, phishing scams etc. to conserve and grow their wealth.”

He thereafter thanked SEBI and all the dignitaries present who participated in this ceremony to mark the beginning of this weeklong celebration, dedicated to all the investors in the country.

About BSE

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds, and stock lending and borrowing.

BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India’s Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds Almonds & Turmeric.

BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services, and education. It has a global reach with customers around the world and a nationwide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.

Indian Clearing Corporation Limited, a wholly-owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. ICCL is the only clearing corporation in India to have been granted "AAA" rating by two rating agencies, India Ratings Ltd. (Indian arm of Fitch Ratings) and Care Ratings Ltd. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), the associate company of BSE, is one of the two Depositories in India. 

BSE has set up an Investor Protection Fund (IPF) on July 10, 1986, to meet the claims of investors against defaulter Members, in accordance with the framework issued by the Ministry of Finance, Government of India, and SEBI. BSE Investor Protection Fund is responsible for creating Capital markets-related awareness among the investor community in India.

India International Exchange (IFSC) Limited (India INX) is India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). India INX is a subsidiary of BSE Limited. The Exchange was inaugurated by the Hon’ble Prime Minister of India, Shri Narendra Modi, on Jan 09, 2017, and commenced its operations on Jan 16, 2017.

Tata Motors Group Global Wholesales At 3,35,976 In Q2FY23

The Tata Motors Group global wholesales in Q2FY23, including Jaguar Land Rover, were at 3,35,976 nos., higher by 33%, as compared to Q2FY22.

Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q2FY23 were at 1,03,226 nos., higher by 16%, over Q2FY22. 

Global wholesales of all passenger vehicles in Q2FY23 were at 2,32,750 nos., higher by 43% as compared to Q2FY22. 

Global wholesales for Jaguar Land Rover were 89,899 vehicles (**JLR number for Q2FY23 includes CJLR volumes of 14,592 units). Jaguar wholesales for the quarter were 16,631 vehicles, while Land Rover wholesales for the quarter were 73,268 vehicles.

*Includes sales of Tata Motors Passenger Vehicles Limited, a subsidiary of Tata Motors Limited.

**CJLR – It is a JV between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR

Rookieverse Launches ‘Daring Awards’, Recognising The Next Generation of Changemakers

* In partnership with Hungama Kids, this dedicated award is for all the young achievers in India

There are numerous global lists and awards recognising achievers under 30 or 40 and so on. However, in this fast-changing world, the real changemaker is the next generation. ‘Daring Awards’ by Rookieverse and Hungama Kids recognise every such youngster, yearning to make an impact on the society through their achievements and talents.

Rookieverse, a unique platform that reimagines learning by inspiring young minds to soar within a changing world, is on the lookout for daring children and teens who are keen to try new things and build a better world. Launching the Daring Awards in India, the start-up aims to catch future leaders - prime ministers, Nobel prize winners, Pulitzer Prize winners way before they achieve that level of glory and achievement.

But who would qualify for such an award? You could be tutoring other children your age or younger, excelling at a particular sport or activity or even could have invented something useful. It is hard to put a finger on exactly what a daring youth does, because every little step counts. To summarize, being involved in activities, initiatives and causes that demonstrate one or more of the following - creativity, service, leadership, excellence, and a deep caring to create a better world, is what makes one a contender for the awards.

Talking about the initiative, Carlos Nicholas Fernandes, Founder of Rookieverse said, “Our goal is to inspire young people and children to believe in themselves so they can achieve great things. It doesn't matter what their interests are. A Daring youth could be someone daring to do things outside the classroom that take a lot of time, passion and commitment. What’s important for us is to recognise those who have the personal commitment to do something for the society, either through demonstrated service or through pushing the envelope on personal endeavours.”

On the partnership with Rookieverse for the Daring Awards, Soumini Paul, Senior Vice President, Hungama Digital Media Entertainment Pvt. Ltd. said, “It’s time we recognise the extraordinary youngsters that are going to shape the tomorrow of this society and what better way to do that than through the Daring Awards. We are extremely delighted to partner with a platform like Rookieverse to bring this initiative to India, and push today’s daring youth towards a journey of inspiring and making change.”

So, what are you waiting for? Nominate your child, or yourself (if 13 years or older) before 23rd October.

Eligibility criteria: Ages 7 to 19

India’s First Physical Metaverse Lab In Ludhiana With AR, VR, XR And Web3 Facilities

* First Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) lab of its kind. 

* 16-week course on Virtual Reality, 2D, 3D with cutting edge VR/AR headsets for teaching and research; training to be provided by UK experts.

MBCIEverse- North India's first physical metaverse lab was launched today in Ludhiana. It will offer a creative setting that will allow students to collaborate and create applications across domains in a practical learning environment. The lab is an initiative of the Munjal Birmingham City University Centre of Innovation and Entrepreneurship (MBCIE). 

The 16-week MBCIEverse programme will provide insights on how the physical world can be stimulated using modern technology that includes a variety of Head Mounted Display (HMD) units and haptic sensors, besides other cutting-edge equipment, that will help professionals work and ideate across the high-end Metaverse. 

Sunil Kant Munjal, Chairman, Hero Enterprise and MBCIE while inaugurating the state-of-the-art lab in Ludhiana said- “Countries such as the United States, France, and China have successfully implemented virtual reality labs in their schools to provide students with a comprehensive and imaginative learning experience. Given India's demographic dividend, the potential appears to be unrivalled and unprecedented. The only challenge is making this technological adoption accessible to the general public and with MBCIE, we are taking a lead in making this available to school students, college students and professionals. I am sure entrepreneurs of Ludhiana will also use this facility to become more competitive.”

Dr Venkatesh Vijay, a metaverse expert from Birmingham City University, UK narrated the importance of the technology, why you should care about it, and how to build your own Metaverse and Introduced two short programmes ‘Introduction to VR’ for School Students and ‘Build Your Metaverse’ for professional and college students.  

Dr Paramjeet Kaur, Principal BCM Arya Model School presented the Impact of Technology on today’s Education and how this facility and the Metaverse programmes run by MBCIE will enable the young generation not only to learn but also provide hands-on experience to better prepare them for the future.  

Dr Vandna Shahi, Principal BCM School Basant Avenue addressed the audience highlighting the need for educators to adopt immersive technologies for the 21st-century skillsets. 

Speakers at the event also included Mr S K Rai, Vice-Chairman Hero Cycles Ltd, Dr Prem Kumar, Executive Director, MBCIE.  

About MBCIE

Munjal Birmingham City University Centre of Innovation and Entrepreneurship promoted by Munjal family (Hero Group) and Birmingham City University UK is engaged in promoting Innovation, Industry 4.0 and entrepreneurship. The MBCIE campus in Ludhiana has been set up to transform the higher education space in Punjab as well as to boost the understanding of the foundations and implementation of new technologies like Metaverse.

CaratLane Touches A New Milestone, Unveils 150th Store Launch In Indian Market

CaratLane, India's leading Omni-channel jewellery brand, inaugurated its 150th store in Bengaluru today. The inauguration was graced by Mr. C K Venkataraman, Managing Director of Titan and Mr. Mithun Sacheti, Founder and Managing Director of CaratLane. It was exactly 10 years ago that they launched the first CaratLane store at Greater Kailash, Delhi.

The JP Nagar location has been a strong catchment for the brand and hence was identified as the location for the 150th store. The brand is focused on making all forms of trial available in every pin code where it has strong customer interest and the JP Nagar store will address the needs of one such catchment. What makes it all the more special is that the store is being run by a CaratLane ex-employee- Maitri Shah. Her extensive knowledge of the brand and her expertise in the design and merchandising aspects promise a special value addition to this store and its customers. This will be the 5th store to be run by an employee, which is a testimony to the fact that CaratLane encourages the spirit of entrepreneurship.

The 150th store is spread across 2090 sq. ft. and will feature jewellery across all categories and price points. The vast and varied inventory will address all the needs of consumers, whether it’s partywear, occasion wear or for gifting purposes. Customers will be able to discover and try designs from CaratLane’s iconic collections and most popular jewellery segments such as modern mangalsutras, classic studs and more. All the new festive collections and latest launches will also be available here. Catering to a wider audience and a variety of occasions, the collection will also feature kids jewellery and ample options for festive celebrations. The exclusive solitaire section here is definitely another highlight of the space.

With gifting at the center of the consumer approach, the brand has ensured that there are ample choices in Sub 20k - 40k to deliver for last minute gifting and important intimate occasions such as First Salary, Baby Shower, and even other personal milestones.

Gracing the launch with his presence Mr. C K Venkataraman, Managing Director of Titan said, “It’s very exciting to witness the launch of CaratLane’s 150th store at JP Nagar, Bengaluru, today! The rapid expansion of the brand’s retail footprint is testimony to the strong demand that the brand has seen in recent years. Titan now with the various jewellery brands under its fold caters to all jewellery needs of the Indian consumers, right from everyday wear to wedding and occasion wear jewellery.”

Talking about the launch, Mr. Mithun Sacheti, Founder and Managing Director of CaratLane said, “We are delighted to reach this milestone with the launch of the 150 th store in Bangalore at an important location as JP Nagar. With every new store, we are enabling more and more consumers in a catchment to browse and discover jewellery designs they like and try the designs in a store near them using features like Try At Store. This launch marks the 21st store in Bengaluru and 41st in the South region."

Store Address:

Site No. 26, Ground, 1, 24th Main Rd, next to IDBI Bank, 5th Phase, J. P. Nagar, Bengaluru, Karnataka 560078

About CaratLane:

CaratLane - a Tanishq Partnership, India’s first omnichannel jewellery brand was founded in 2008, by Mithun Sacheti and Srinivasa Gopalan, with a simple but courageous objective – to make beautiful jewellery accessible, affordable and forever wearable. All CaratLane collections draw design inspiration from a strong historical legacy and interpret them in a modern theme. With the new-age woman as a muse, the design philosophy at CaratLane is to make jewellery that makes the wearer ‘feel’ beautiful, and draws out her compelling individuality, inner confidence and self-esteem.

With a strategic investment from Titan Company Limited, CaratLane is now partnered with India’s largest retail jeweller, Tanishq. The partnership aims to work towards a common mission – to offer customers beautiful jewellery and a distinctive shopping experience that fits today’s values and lifestyles - enabling CaratLane to grow as India’s 21st-century jewellery brand.

CaratLane is also known for its signature jewellery-buying experience across all platforms. Along with the website, which is India’s largest online jewellery destination, CaratLane also has over 150 stores across the country! The CaratLane stores bring a seamless jewellery buying experience with access to all jewellery. CaratLane also pioneered a unique Try@Home feature for jewellery buyers in the country, where customers can book an appointment to get their desired jewellery delivered at their doorsteps and try them at their comfort, with no obligation to buy.

Facilitating the diamond-buying experience in India, CaratLane stores also include a Solitaire Lounge personalised with a highly skilled team to assist customers to find the perfect solitaire. CaratLane diamond consultants are also available 24x7 at toll-free number 1800-102-0103.

To know more about CaratLane: Visit www.CaratLane.com

Join the conversation: #CaratLane | @CaratLane | facebook.com/CaratLane

IT Q2FY23 Preview: Steady Quarter Marred By Cross-Currency; Signs of Slowdown To Be Visible In H2

Emkay Global Financial Services has released a note on the earning expectations for the Indian IT companies for Q2FY23. The research house expects a steady sequential constant currency revenue growth in Q2, but adverse cross currency would impact reported USD revenue growth. The revenue growth is expected to be 2.5-4.5% CC QoQ for Tier-1 IT services companies and of 0.1-5.3% for Tier-2 firms, in the Sep-22 quarter.

The EBITM would remain under pressure on YoY basis, due to continued supply-side challenges, higher backfilling costs and limited cost pass-through via higher pricing. The sequential EBITM trajectory would reflect the salary hike cycle. Due to cross-currency headwinds, benefits from rupee depreciation are likely to be marginal in Q2. The slowdown in demand is priced in valuation, although recession has not been captured fully.

Q2 likely to be a steady quarter, cross-currency headwinds expected

A steady sequential CC revenue growth is expected in Q2. However, adverse cross currency would impact reported USD revenue. Within their coverage, Emkay Global expects CC revenue growth of 2.5-4.5% for tier-1 companies (cross currency impact of 150-210 bps on reported USD revenue) and of 0.1-5.3% for mid-cap firms (cross currency impact of 40-190 bps on reported USD revenue). Q2 growth momentum would remain steady, but incremental data-points – like job losses/freeze at client organizations, an elongated sales cycle highlighted by some global software majors, etc – indicate a slowdown in coming quarters. Indian IT companies have also highlighted pockets of weakness (Mortgage, Retail, High Tech, E&U, etc) in recent months.

Emkay Global expects the usual seasonality in H2 growth to be amplified by a potential weak demand. The research house expects Infosys to retain its 14-16% CC YoY revenue growth and 21-23% EBITM for FY23. HCL Tech is also likely to retain its 12-14% CC revenue growth and 18-20% EBITM guidance range. Wipro should guide to 0-2% CC QoQ revenue growth for Q3FY23. Cross-currency movements remain adverse, with GBP, EUR, AUD and JPY depreciating by approximately 6%, 5%, 4%, and 7% QoQ, respectively, against the USD; this may weigh on reported USD revenue and margins.

Rupee depreciated sequentially, but adverse cross currency movement to limit margin benefits: EBITM is expected to remain under pressure on YoY basis due to continued supply-side challenges, higher backfilling costs, increase in travel & back-to-office related costs, and limited pass-through of costs through higher pricing. The sequential EBITM trajectory would reflect the salary hike cycle (Wipro, HCL Tech, Tech Mahindra, Mindtree, Persistent Systems, Birlasoft). Due to cross-currency headwinds, benefits from rupee depreciation will be marginal in Q2. Emkay Global expects supply-side challenges to ease to some extent in coming quarters which would support margin recovery. Most companies’ EBITM has bottomed out and will improve in coming quarters on a flattening employee pyramid, sub-con optimization, pricing and a weak rupee.

The key monitorables for the IT companies are

a. FY23 revenue growth/margin guidance

b. deferment or cancellation of projects due to macro uncertainties, high inflation and supply-chain disruptions

c. management commentary on any impact on tech spending from high energy prices and potential economic slowdown

d. segments exhibiting weak demand trends

e. demand trends in key verticals such as BFSI, Retail, Manufacturing and Communications

f. deal intake/pipeline in Q2

g. pricing environment amid high inflation and tight labour markets

h. margin outlook

i. supply-side challenges and attrition.