AIWA Launches Flagship Portable Speaker MI-X 330 Meteor In India

Continuing its spree of launches this year, Aiwa India has added another star product to its impressive Luxury Acoustics portfolio – Aiwa Meteor MI-X330. The launch comes at a time when parts of the country are celebrating multiple festivities.

AIWA’s latest product in the highly successful ‘Luxury Acoustics’ category is designed to meet the needs of avid audiophiles and hard-core music enthusiasts who are looking for exclusivity, luxury, and high-quality sound. The new stylish & high-performance range is a perfect product for those who don’t like to settle for the ordinary. It can be used both indoors and outdoors as it is portable and comes with high-power rechargeable batteries. The speaker fits well in a range that comprises versatile form factors from Retro to Wooden Built to luxurious leather finish to exquisite metallic build.

AIWA MI-X330 Meteor Portable Bluetooth Speaker: MRP 34,990

The compact, high-performance portable speaker with an elegant & commanding character comes equipped with best-in-class features and software high-resolution supporting 24-bit music quality audio over Bluetooth 5.0. MI-X330 comes with two passive bass radiators (front+ back) for even distribution of sound. This speaker also comes with two custom-designed 40 mm active audio drivers and a Type – C charging point that enables 6-7 hours of charging time and 6-10 hours of playback time, powered by a 5000 mAH Li-ion battery delivering an impressive 60W of powerful Sound. MI-X330 is not just about great aesthetics but also best-in class audio performance that will leave even the most demanding consumers impressed. There is also a circular LED display, a control panel, and a 3.5mm AUX –IN. The Speakers also have TSW Multi-Link technology as a standard, allowing consumers to link multiple products in tandem.

Speaking on this occasion, Mr. Ajay Mehta – MD, Aiwa India said “The Luxury Acoustics Speaker Range has been the most successful range of products for Aiwa in the past year and the brand has been able to compete and establish its footing into the elite high-end speaker bracket that comprises iconic global brands. We are delighted to say that our consumers and channel partners have loved our products and we hope to continue building the number of Aiwa users further with exciting products over next year. Meteor is just a start and we are confident that the product will deliver stunning performance.”

Consumers can buy the speakers on www.aiwaindia.com and also on Croma, Reliance Digital, and Select Partner Stores. Taking the legacy forward for more than seven decades, technology and innovation have been the core strengths of AIWA products.

Mindtree Ltd: Strong Operating Performance During Q2, 2022

HOLD

CMP: Rs3317  |  Target Price: Rs3350

MTCL reported strong operating performance, with an all-round beat in Q2. Deal intake remains strong in Q2, with TCV of USD518mn and a healthy mix of annuity and transformation deals. Mgmt remains cautiously optimistic and is closely monitoring developments in sectors like hi-tech, retail, logistics and manufacturing which, in the near term, are expected to demonstrate more sensitivity to the prevailing uncertain macro environment. Further to this, Company has emphasized that its European clients are substantially cautious and apprehensive, which is reflected in its slower pace of decision-making and elongated deal-closure cycles. However, MTCL remains confident about sustaining revenue-growth momentum in the medium term on the back of its ability to address digital transformation’s dual objectives of revenue maximization and cost optimization, healthy deal pipeline, stitching new partnerships with strategic partners, and potential synergy benefit with LTI. We raise our EPS by 2.9%-4.7% for FY23E-25E, factoring-in the Q2 beat. We remain positive on the mid-to-long term growth prospects of the MTCL-LTI combined business and benefits from merger synergies; but growth momentum would moderate in the near term due to potential lower spending in Hi-tech and Retail and current valuation leaving limited upside. We maintain HOLD with TP of Rs3,350/sh at 23x Sep-24E EPS (earlier Rs3,250).

Result summary: Revenues grew 5.7% QoQ to USD422.1mn (7.2% CC), above our expectations of USD416.5mn. EBITDAM declined by ~10bps sequentially, on account of salary hikes (-240bps) and largely offset by the absence of visa and merger-related one-off expenses (+110bps), currency movement (+50bps) and operational efficiencies (+70bps). Net profit stood at Rs5.1bn, above our estimates due to better operating performance. Revenue growth was broad-based and led by BFSI (10.2% QoQ in USD), TTH (8.8%), CMT (4.3%) and Healthcare (34.9%, albeit on a smaller base), while Retail declined by 0.8% QoQ (Management indicated it grew 2.9% CC QoQ). The top-client grew 6.9% QoQ, while the top 2-10 clients grew a mere 0.3%. What we liked: Strong revenue growth (7th consecutive quarter of >5% CC QoQ growth); robust deal wins; resilient margin performance. What we did not like: Softness in CMT (ex-top client) and potential growth headwinds in the sector.

Earnings-call KTAs: 1) Management indicated that some annuity & transformation programs ended in H1 and that clients are making a cautious move in new programs which could weigh on growth in H2. 2) Client conversations and deal pipeline indicate an increased focus on cost optimization and efficiency deals. 3) Company highlighted that the pain in RCM on account of ramp-downs is largely behind and that it is hopeful of a recovery, barring unexpected macro headwinds impacting the sector. 4) While legacy-deal pricing continues to be competitive, the company is able to command a premium for its digital and niche skills. 5) Although it has not witnessed any cancelations, the company is seeing potential growth headwinds in hi-tech and increased caution in decision-making in Europe, specifically in the retail, CPG, logistics and manufacturing verticals. 6) Company highlighted that Q3 is a seasonally-weak quarter due to furloughs and lesser working days. Slower pace of decision-making amid macro uncertainties could be an added headwind. 7) Company is awaiting the final regulatory approval for its merger with LTI which it expects to be completed by the end of CY22. 8) Travel expenses are expected to inch up from Q4, but will remain below pre-Covid levels. 8) LTM attrition stood at 24.1% in Q2 and moderated by 40bps sequentially; Mgmt expects it to further ease in coming quarters. 9) Net employee addition was 835 in Q2, lower compared with the past few quarters, as the company is evaluating integrated hiring and talent strategy with LTI. 10) ~1/3rd of its employees are working from office in a staggered manner.

Infosys Ltd: Strong Rebound In EBITM; Large Deal Intake Remains Robust In Q2, 2022

BUY

CMP: Rs1421  |  Target Price: Rs1600

Infosys reported strong operating performance in Q2. Revenue was a tad below our expectations, while EBITM beat our estimates. Deal pipeline remains healthy, but considering the macro uncertainties and emerging pockets of weakness for discretionary spending in Hi-tech and Communication apart from Mortgage and Retail indicated earlier, management remain cautiously optimistic. Infosys has narrowed its revenue growth guidance to 15-16% CC (14-16% earlier), implying 0-1.2% CQGR in H2 which reflects seasonal weakness and increased caution amid macro uncertainties. Management has also narrowed its EBITM guidance to 21-22% for FY23 (earlier 21-23%) and expects it to be at the lower end of the guided range. We largely retain our earnings estimates (<0.5% change) for FY23-25 post the Q2 performance. We maintain BUY with TP of Rs1,600/share at 22x Sep-24E EPS, considering continued market-share gains, expected margin recovery, and steady cash generation.

Results summary: Revenue grew 2.5% QoQ to USD4.55bn (4%/18.8% QoQ/YoY CC), a tad below our estimates. EBITM expanded ~150bps QoQ to 21.5%, clocking 60bps above our expectations on account of Rupee depreciation (+70bps), cost optimization measures including large-deal cost optimization, pyramid rationalization, offshore shift, and automation; this was partly negated by lower utilization (+90bps) and lower subcontracting costs (+40bps) partially offset by salary hike for mid-to-senior employees (-50bps). Net profit stood at Rs60.2bn, above our estimate, due to the margin beat. Revenue growth was broad-based and all verticals/geographies clocked double-digit YoY CC growth. The demand environment remains healthy so far, except for pockets of weakness seen in hi-tech and communications in addition to mortgages and parts of Retail. Management remains watchful of emerging the macro situation and its impact on client budgets. Optimization in subcontracting costs, higher utilization, automation, pyramid rationalization, pricing, and cost efficiencies remain the key margin levers that give management confidence about further margin recovery in H2. What we liked: Steady revenue performance, sharp EBITM recovery, large-deal intake of USD2.7bn, the quarterly annualized attrition moderating by 250bps QoQ. What we did not like: Softness in EURS and Communications.

Earnings-call KTAs: 1) Revenue from cloud services was above USD1bn in Q2. 2) Digital revenues comprised 61.8% of the total revenue and delivered 31.2% CC growth in the quarter. 3) Large deal pipeline continues to be strong; however, Management remains watchful of the macro uncertainties. In addition to transformation deals, there is strong focus on cost reduction deals in the pipeline. 4) Infosys signed 27 large deals with combined TCV of USD2.7bn (54% net new) in Q2, split across geographies (18 in North America, 6 in Europe, 1 in India, and 2 in RoW) and verticals (5 in BFSI, 4 each in Retail, Communications, EURS, and Hitech, 3 in Manufacturing, 2 in Life Sciences, and 1 in Others). 5) Management highlighted nil project cancellation in Q2, although Company observed delay in decision-making and slowness in discretionary spending. 6) The Communication sector is likely to face some headwinds due to the uncertain macro conditions and the inflationary environment, while the Hitech segment is witnessing increased caution on discretionary spending, leading to delay in deal closures. 7) Company announced buyback of equity shares (through the open market route) amounting to Rs93bn, at a price not exceeding Rs1,850/share. It also announced an interim dividend of Rs16.5/share. 8) Attrition, on LTM basis, moderated to 27.1% from 28.4% Q1. Management further indicated that quarterly annualized attrition declined 250bps QoQ in Q2 and expects it to see added moderation in coming quarters.

Nearly 60% of Indian Consumers Won’t Shop Online This Festive Season Due To Anticipated Delivery Delays And Returns Complexity

* FarEye survey findings signify need for retailers to prioritize a seamless last-mile delivery and returns experience to win customers during peak shopping seasons

FarEye announced findings from its Festive Season Consumer Shopping Survey 2022 which revealed that anticipated delivery delays and returns headaches are causing nearly 60% of consumers not to shop online this festive season. The survey of 1,000 respondents in India revealed current shopping habits and festive season purchase plans and explored their last-mile delivery pain points.

India’s festive season peaks ahead of Diwali in late-October and runs through December and is historically when retailers see an uptick in online sales, projected around 28% higher vs last year according to industry experts. FarEye’s survey found that while 41% of those surveyed plan to shop from e-commerce retailers during festive season, nearly 60% do not, due to delivery delays and returns frustrations. Of those surveyed, about 63% are abandoning shopping carts due to poor delivery terms and 54% are expecting delivery delays during festive season.

“Consumers have become frustrated with challenges associated with getting their deliveries on-time, every time, and don’t want to pay extra for returns, or for faster delivery,” said Gautam Kumar, co-founder and chief operating officer, FarEye. “For the first time in over two years, retailers are banking on increased consumer spending during festive season after several pandemic-stricken years reducing spending and in-person celebratory gatherings. In order to see those sales increase, retailers must improve the delivery experience, from the first click to order, through to delivery to consumers’ doorsteps.”

The survey further revealed that while e-commerce deliveries are typically higher during the festive season, so are returns. Key returns findings include:

* More than 50% of consumers reported making online returns during last year’s festive season.

* 87% consider easy and/or free online returns policies important when making a purchase during the upcoming festive season

* Free online returns (25%), fast refund/credit (22%), home returns pickup (20%) were the top three reasons for a positive returns experience

“Peak seasons like the festive season  are some of the most critical periods for retailers to get the consumer delivery - and returns - experience right, or risk losing brand loyalty, or worse, the customer, for good. These survey findings, while not surprising, indicate the need for brands to continue redefine their last-mile delivery strategy to ensure a superior consumer experience, every time,” concluded Kumar.

Survey Methodology

1,000 India consumers aged 18+ were polled via online survey in September 2022.

Renault India Kickked Off "The Brand First 3D Anamorphic Experience In Orion Mall For Kiger

* The novel outdoor activation is unveiled in Chennai, Delhi NCR and Bengaluru  

* The innovative out of home campaign aims to augment resonance for #RenaultKIGER  

* Emphaises the sporty design, smart interiors & the multi sense drive modes  

Renault, the Number one European brand in India, has launched its first one of a kind “3D Anamorphic Outdoor Activation” in India’s Silicon Valley, Bengaluru – Orion Mall giving out an exceptional experience of Renault KIGER’s sporty design, smart interiors & the multi sense drive modes. Renault executed this exceptional 3D Anamorphic Experience campaign in other metropolitan cities such as Chennai -Express Venue and Delhi NCR – Ambience mall.  

The campaign which was launched recently is scheduled to be live for the period of 2 weeks. The campiagn aims at engaging with the audiences and potential buyers using immersive visuals and content design which exhibits the sporty product design and empahises smart interiors & the multi sense drive modes of the Renault KIGER. 

The first of its kind 3D on-ground anamorphic experience by Renault India provides an exhilarating visual treat and an opportunity for prospective customers to virtually experience the Renault KIGER amplifying the brand resonance for KIGER during the festive season.  

Speaking on the launch, Mr. Sudhir Malhotra, Vice President Sales and Marketing, Renault India Pvt. Ltd said, “Our idea behind the Kiger campaign was to create a campaign unlike anything we have ever done before, this shaped up to be a fantastic brand-first initiative for us. 3D OOH gave us an exciting new realm to explore and it seemed very fitting for a visual narrative centred on an SUV that boasts of both a futuristic design and technology. Our aim was to engage with the audience in a way that feels fresh and authentic and allows the Renault Kiger to shine.” 

Renault KIGER is one of the most affordable offerings in the compact SUV segment with cost-effective maintenance. Renault KIGER has been recognized with multiple awards in the compact SUV category, highlighting its success in the Indian market. Powered by a world-class turbocharged 1.0L petrol engine, it not only offers more performance and a sporty drive, but also boasts best-in-segment fuel efficiency of 20.5 KM/L. 

ABOUT RENAULT  

Renault India Pvt. Ltd. is a fully owned subsidiary of Renault S.A.S. France. Renault India cars are manufactured in the manufacturing facility located in Oragadam, Chennai, with a capacity of 480,000 units per annum. Renault India also has a widespread presence of more than 500 sales and 530 service touchpoints, which includes 250+ Workshop On Wheels and WOWLite locations across the country, with benchmark sales and service quality. 

Renault India’s product line up and services have seen strong recognition among customers and industry experts alike, winning more than 60 titles, making Renault India one of the most awarded automotive brands in a single year in India. 

Perimeter 81 Partners With OSI Global To Distribute Platform In India

* The company’s network security platform will be distributed across India, to protect local networks from cyber attacks

Connectivity in India is increasing, and with it grows the threat of cyberattacks. In 2021 ransomware attacks in India reportedly increased by 120% with surveys indicating that 79% of companies with a digital presence have experienced at least one ransomware attack. Perimeter 81, the rapidly-growing Zero Trust Networking Access leader, has partnered with OSI Global to distribute its platform in India and address the heightened threat the country faces.

Perimeter 81 is already securing over 2700 companies worldwide. This marks the first time the company’s network security solutions will be distributed in India, and it underscores Perimeter 81’s commitment to protecting businesses and their networks from cyberattacks.

“This partnership will allow us to better serve the needs of businesses in India that are facing increasingly sophisticated cyberthreats,” said Rich Farbman, Vice President of Channel Sales at Perimeter 81. “With OSI Global's extensive network in the region, we can offer our platform to those who need it most.”

Perimeter 81's platform provides a comprehensive and easy-to-use solution for businesses of all sizes to secure their networks. The platform features Zero Trust Network Access (ZTNA), Firewall as a Service (FWaaS), and Secure Web Gateway (SWG). With its unified and easy-to-use management console, along with seamless user onboarding, organizations can utilize Perimeter 81’s platform for fast and reliable secure remote access from anywhere. Users gain instantly secured remote network access in the cloud, while the company benefits from reductions in cost and time spent managing hardware. 

With the Perimeter 81 platform, businesses can protect their networks from a variety of cyber threats, including malware, phishing attacks, and cloud breaches. Perimeter 81’s platform is available immediately for OSI GLOBAL customers to deploy in a matter of minutes and provide their company’s with a secure network.

“We are thrilled to be partnering with Perimeter 81 to bring its innovative platform to our customers in India,” said Keerthi Kumar, Sales Director at OSI Global. “This partnership adds to our portfolio of solutions available to help overmatched IT teams in this underserved region.”

About Perimeter 81

Perimeter 81 allows companies of all sizes to finally break free from outdated network architectures and legacy security products to easily manage their network security from a single, seamless service, delivered by the cloud. Perimeter 81’s converged security solution includes Zero Trust Network Access (ZTNA), Firewall as a Service (FWaaS), and Secure Web Gateway (SWG). The company is helping thousands of businesses of all industries and sizes achieve holistic network security easily and cost-effectively.

About OSI Global

With its innovative Security Framework, OSI Global IT Distribution’s best-of-breed and market-leading Cyber Security technologies are recognized as a “Trusted Advisor” to over 250 Channel Partners in the Middle East Region, India & SAARC Countries. They are Head Quartered in Dubai with offices in London, Bangalore, and Chennai.  There unparalleled portfolio of products and solutions that meet every critical IT needs – from cloud access security, advanced threat prevention, and data-centric security to network system management, monitoring, and optimization.

Amazon India Launches ‘#WeAreAmazon’; A Campaign To Celebrate Amazonians Who Make Every Day Better

During the festive season in India, Amazon once again celebrates its people who play a key role in delivering a delightful festive season for the customers, with the launch of "WeAreAmazon” campaign. The campaign spotlights Amazon employees, associates, and partners who are making sure that customers have a brighter and safer festive season.

At Amazon, there is a peculiar sense of togetherness and warmth that permeates everything that the Amazonians do, this reflects in every department, every function, every delivery. All Amazon employees are unique, but still, one in spirit and they have an opportunity to grow personally and professionally while being their authentic selves while contributing to a greater vision.

Sharing her thoughts on the campaign, Ms. Deepti Varma, Vice President, People and Experience Technology (PXT) at Amazon Stores India & EM says, "At Amazon, people are at the heart of all our decision making and we believe that it’s not only good for society but also business. ‘WeAreAmazon’ is a simple effort to exhibit gratitude to all our employees who, with their exceptional and unconventional roles, have become builders, innovators, and have successfully delivered services to customers. We are thankful to all these remarkable people who work relentlessly to delight customers while having fun at work which is in line with our efforts of becoming ‘Earth’s Best Employer’ and a “Great Place to Work.”

Amazon India's Day 1 culture is strong among employees, be it AWS, Seller team, Prime, Ops, Consumer and Corporate teams, with every person working together to improve each day for their colleagues and customers. Our work culture is shaped by the leadership principles that employees use to guide their work. Among them is ‘Strive to be Earth’s Best Employer’, a principle that encourages leaders to lead with empathy, have fun at work, and make it easy for others to have fun.

During the festive season, Amazonians come together to serve customers and offer an exceptional shopping experience while ensuring safe and reliable delivery of customer orders. The season brings in fun, joy, happiness, and warmth across the organisation where each individual, while gearing up for the festive season, is making sure easy processes for their peers, customers, sellers, and partners.

Sharing her experience, Suma, Delivery Associate for Amazon India, shares "Amazon has not only enabled a good work opportunity, but has also helped me become financially independent. I have two kids and when someone asks my children about where I work, they proudly say that I work at Amazon. The festive season is a good time for gifting, customers buy gifts for others, and when we deliver those gifts it makes them very happy, and seeing the smiles on their faces makes me happy too.”

There are Amazonians from diverse backgrounds who have been working for many years and have been part of the celebrations each year at Amazon. From a military veteran,              , who during every festive season, with the same rigour, discipline, and ownership incorporated with the Amazon Day 1 culture, has made the processes seamless to Shipra Bansal, Customer Service Associate, CS Operations-VAR, Amazon India, who joined Amazon after a career break, can manage both her personal and professional life and is making sure that not just her husband and kids are happy, but the customers that she serves every day always feel the happiness when they shop from Amazon to Sumith K, Program Manager, Local Shops, Amazon India, who feels the festive season is an exciting time for both sellers and customers. While customers look forward to buy and shop more, on the other hand sellers look forward to sell more and reach customers across the country.

Pallavi Singh, Senior Manager, Prime Shopping, IN Prime, believes teams at Amazon connect deeply and bond with each other - imbibing trust and camaraderie in whatever they do. Tanujit, Tools Program Manager for Payment Risk, Amazon India, who owns tools that help Amazon prevent bad-debt and preserve a risk-free environment for our customers, increased customers shopping during the festive season, it is a crucial time for him and his team to work towards providing customers with a safe shopping experience.