This Diwali, Upgrade Your Homes With Croma Branded Home Gadgets!

Diwali, the festival of lights, is a time of big celebrations where everyone desires to upgrade their homes. From small appliances to large appliances, Croma's product offerings are meticulously curated to make your Diwali shopping truly special. Croma Own Label's range of products has seen massive growth over the past few years. Croma currently has 400+ products in the Own Label category that use the latest technology and are curated by in-house experts with competitive pricing.

Check out these offers on croma.com and Croma stores -

·         On the website, get an instant 10% off up to Rs 2000 on HDFC and ICICI CC/DC

·         On Croma.com & store, there is a no Cost EMI up to 12 Months on major banks

·         In Stores,

o   shop for worth ?3,000 and get 500 off on all Croma audio above 1000/-

o   Buy Croma Side-By-Side Refrigerator & Get Croma 45L Direct Cool Refrigerator Free*

o   Buy Croma Washing Machine & Get Croma 2000W Steam Iron Free*

Let's explore the Croma Own Label products that are feature-packed, affordable, and will help you upgrade your lifestyle:

Croma 4 in 1 Convertible 1.5 Ton 5 Star Inverter Split AC with Dust and PM 2.5 Filter (Copper Condenser, CRLA018INF170256)_1Croma 5 Star Inverter AC - Buy the latest Croma 5 Star Inverter AC, which boasts of design and features at ?40,990. This 4 in 1 Convertible 1.5 Ton 5 Star Inverter Split AC is self-cleaning and self-diagnosing, making maintenance hassle-free. In response to today's needs, it offers dual-filtration, with the PM 2.5 Filter capturing germs and the Dust Filter featuring Antivirus Protection to ensure clean air. Four convertible modes, an eco-friendly R32 refrigerant, and an inverter rotary compressor provide energy-efficient cooling. The copper coil enhances performance, and the nano shield coating prevents corrosion. Order now!

Croma's 50-inch 4K UHD Smart TV - Experience vibrant visuals starting at ? 34,990*. Upraise your viewing experience Diwali in full glory with Croma's 50-inch 4K UHD Smart TV. Its LED display boasts a resolution of 3840 x 2160 pixels and a smooth 60 Hz refresh rate, delivering stunning clarity. The 20W speaker, supported by Dolby Audio, complements the visuals perfectly. A quad-core processor ensures smooth navigation, backed by 2GB of RAM and 16GB of internal storage. The sleek bezel-less design and hands-free voice control via Google Assistant enhance the experience. Dual-band Wi-Fi guarantees a smooth online experience. Revamp your festive joy with a fresh and exciting approach to your TV experience.

Croma 563 Litres Frost Free Side by Side Refrigerator with Multi Airflow System (CRAR2651, Black Inox)_1Croma 563 Litres Side by Side Refrigerator (CRAR2651, Black Inox) - With a generous 563-liter capacity, this floor-standing refrigerator ensures spacious and organized storage. The Multi Airflow System maintains consistent cooling, while the sleek Black Inox finish adds a touch of style to your kitchen. Its front adjustable legs ensure stability on any floor, and it's eco-friendly with Cyclopentane as the foaming agent. Upgrade your kitchen with this stylish and efficient side-by-side refrigerator.

Get ease and convenience with the Croma 8/6 kg Fully Automatic Front Load Washing Machine. This innovative appliance functions as a front-loading washer, dryer, or washer/dryer, adapting to your laundry needs. It's designed for quiet yet efficient performance, thanks to strong magnets that reduce energy consumption. It ensures the removal of stains and enhances detergent performance.

Croma 50W Portable Party Speaker – Host great parties with speaker that delivers a powerful 50W output, ensuring your music is loud and clear. It offers versatile connectivity options, including Bluetooth, USB, Aux, and Memory Card, making it easy to play your favorite tracks. The speaker's built-in LED lights sync with the music, adding a visual element to your party. With easy on-device controls, you can manage both your music and lighting. Plus, it's lightweight and easy to carry, perfect for on-the-go celebrations. With up to 5 hours of playtime, this speaker will keep the party going without interruptions. Get ready to take your gatherings to the next level with this essential party companion.

Croma 200W Soundbar with Remote (Wireless Subwoofer, 2.1 Channel, Black)_1Croma 200W Soundbar with Remote (Wireless Subwoofer, 2.1 Channel, Black)- Elevate your audio experience at ?10,990*, boasting a powerful 200W audio output, it immerses you in exceptional sound quality, enhancing your festive celebrations. The included wireless subwoofer delivers rich bass, elevating the highs and lows for a complete listening experience. With versatile connectivity options, including Bluetooth v5.3, Aux, USB, HDMI ARC, and Optical Input, it seamlessly integrates with various devices. Its metallic design complements the festive setting, whether wall-mounted or standing. Plus, the convenient remote control ensures an effortless and enjoyable user interface. Upgrade your Diwali audio setup today!

Croma Foot Massager (Shiatsu Massage Therapy, Warm Function, CRSH036MRA028201, Rubber Grey)_1Croma Foot Massager- Designed to cater to your relaxation and pain relief needs at just ?11,990*. Crafted from durable polycarbonate material, it guarantees long-lasting performance. The indicator lights display your selected mode and function for added user-friendly convenience. With a 10-minute auto timer option, you can unwind with peace of mind. The air pressure function promotes deep muscle relaxation, enhances circulation, and relieves tension. Order the Croma Foot Massager online for a soothing massage experience this Diwali.

Croma 1200 Watts Dry Vacuum Cleaner - Effortless cleaning starting at just ?4190.00*. Clean your house this Diwali in no time with the help of Croma 1200 Watts Dry Vacuum Cleaner. This powerful vacuum cleaner has a suction capacity of 140W. It also has a 1.5-liter dust cup tank, which means you can clean it for longer without having to empty it. The vacuum cleaner is also equipped with a 5-meter-long cord, which gives you plenty of reach.

Croma 3 Jars Mixer Grinder - A Kitchen Essential at only ?1,399*. The kitchen is the heart of every Diwali celebration, and Croma 500 Watts 3 Jars Mixer Grinder, which comes with wet grinding, dry grinding, and blending functions, is a must-have kitchen companion to whip up delectable sweets or prepare some savory dishes.

Croma 23L Convection Microwave Oven with LED Display (Black)_1Croma 23L Convection Microwave Oven with LED Display - Make your Diwali meals special at just ?9,990*. When you're on the hunt for the perfect oven with top-notch components, your Diwali shopping should include the Croma 23 Litres Convection Microwave Oven. With its generous 23 liters capacity, it's an ideal choice for a medium-sized family. Whether it's cooking, heating, defrosting, or grilling, this appliance has you covered. Don't miss the opportunity to enhance your Diwali shopping by adding the Croma 23 Litres Convection Microwave Oven to your cart. Get the best for your Diwali celebrations today!

Croma 25 Litres 5 Star Storage Water Geyser (2000 Watts, CRLH25LGYF254205, White)Croma 25 Litres 5 Star Storage Water Geyser- Get winter ready with geysers, available from just ?8,490.00*. Designed to handle up to 8 bars of water pressure, this geyser ensures efficient and reliable hot water delivery.  As the winter is upon us, this geyser with a power rating of 2000 Watts, delivers a reliable and consistent supply of hot water. You can count on it to meet your needs, whether it's for showers, washing dishes, or other household tasks.

*T&C applied

Mahindra Logistics Launches Services On ONDC Network In India

Mahindra Logistics Limited, one of India's leading integrated third-party logistics service providers launches services on ONDC Network and commences its operations. Mahindra Logistics will provide same-day & next-day intra-city pick-up and delivery services to all sellers on ONDC. The company will extend this to a full range of services including inter-city express parcel, full truck load and mobility services. Sellers on the ONDC network will have access to Mahindra Logistics’ entire range of services enabling intra-city and inter-city delivery in up to 19,000 pin codes.

Efficient logistics is a key enabler for members on the ONDC network. Mahindra Logistics’ services provide a full stack of technology, providing D2C brands and sellers with rapid integration and fulfilment services. As part of this initiative, Mahindra Logistics is also committed to collaborating with other members of the ONDC Network in providing solutions to empower local businesses.

Commenting on this integration, Mr. Rampraveen Swaminathan, MD & Chief Executive Officer, Mahindra Logistics Ltd., said, "ONDC is a path breaking attempt program to empower and democratize local commerce. Efficient logistics is a key enabler to harnessing the full potential of ONDC and we are pleased to join the network. We share ONDC’s vision of accelerating commerce and are pleased to partner with them on a range of services. We provide customers a range of hyper-local and inter-city transport and mobility solutions and technology integration with their end customers.  Our aim to accelerate commerce by delivering innovative logistics solutions on the platform will ultimately benefit both, businesses and consumers.”

T Koshy, MD & CEO, ONDC, said, “Logistics is a key element for the successful adoption of ecommerce across the country. Especially, for small and medium enterprises this will be a key enabler for enhancing their reach. With a major player like Mahindra Logistics coming onboard onto ONDC Network, it will add significant logistics options across the country for diverse merchants that are part of the ONDC ecosystem''.

ONDC has created an Open Network for seamless logistics operations, opening up opportunities for increased business, better capacity utilization, and a stronger brand presence. This collaboration aligns with the Indian government's vision of promoting a fair and open digital commerce network.

About Mahindra Logistics

Mahindra Logistics Limited is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility. Mahindra Logistics serves over 400+ corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an “asset-light” business model, providing customised and technology enabled solutions that span across the supply chain and people mobility services. 

For more information, visit www.mahindralogistics.com

About ONDC:

Incorporated on December 31, 2021, Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India, to create a facilitative model that revolutionizes digital commerce, giving greater thrust to the penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software but a set of specifications designed to foster open, unbundled, and interoperable open Networks.

Virtusa Supports Restoration Of Iconic “B.J.P.C Institution, Preserving Mumbai's Cultural Legacy”

Virtusa Corporation, a leading provider of digital engineering, and technology services through its philanthropic arm, Virtusa Foundation, is pleased to announce the successful completion of the Byramjee Jeejeebhoy Parsee Charitable Institution (B.J.P.C.I) Heritage School Restoration Project. The restoration of this iconic institution not only preserves a vital piece of history but also underscores Virtusa's commitment to fostering education, empowering future generations, and contributing to a sustainable environment.  

Furthermore, Swwapnil Joshi, renowned actor and an esteemed alumnus of the B.J.P.C.I, graced the event with his presence. In addition, Santosh Thomas, Chief Executive Officer and Executive Director, Virtusa Corporation, Amit Bajoria, Chief Finance Officer, Virtusa Corporation, Ram Meenakshisundaram, Chief Technology Officer, Virtusa Corporation, and the B.J.P.C.I trustees together unveiled the captivating Coffee Table Book – “Unwrapping The Story of a Landmark Restoration,” making the event a truly exceptional and meaningful occasion. 

At the event, Santosh Thomas, Chief Executive Officer and Executive Director of Virtusa Corporation, emphasized, "It has been a great privilege for Virtusa to collaborate with the Byramjee Jeejeebhoy Parsee Charitable Institution (B.J.P.C.I) in the restoration of this historic structure. As a company that believes strongly in social responsibility, this project aligns with our corporate sustainability ethos." 

He continued, "The Virtusa Foundation has built a comprehensive program to foster access to education for over 15 years. These initiatives have benefitted over 20,000 students. Today, with the restoration of this 132-year-old beautiful structure, we are able to mark another milestone in this mission that will benefit students and society for generations. The opportunity to support the restoration of this iconic building and preserve a piece of history that will provide opportunity to young minds will always be cherished. It has been an honour to help the B.J.P.C.I safeguard this mission so that the dreams of countless students can be fostered for years to come." 

Founded in 1891, the B.J.P.C.I holds an esteemed position in the annals of Mumbai's cultural and educational history. Nestled at 33, M. Karve Marg, this architectural masterpiece stands as a cornerstone of the city's rich heritage. The B.J.P.C.I is recognized as a heritage structure in Mumbai and was the recipient of The Urban Heritage Award in 1993 for being the "Best Preserved Monumental Building". 

Key highlights of the B.J.P.C Institution and the restoration project include: 

Historical Significance: With a legacy spanning 132 years, the B.J.P.C.I stands as one of Mumbai's oldest educational institutions, making significant contributions to the city's academic landscape. 

Architectural Marvel: The institution's heritage building, designed by Master Architect Khan Bahadur Muncherji C. Murzban follows the Gothic Revival style and boasts unique teakwood screens and coloured glass elements. 

Academic Excellence: The B.J.P.C.I offers a comprehensive educational program spanning from kindergarten to senior classes, serving over 1400 students. The institution consistently maintains an impressive 100% success rate in board exams, which stands as a testament to its steadfast commitment to academic excellence. 

Amit Bajoria, Chief Finance Officer, Virtusa Corporation, echoed this sentiment, said, "Revitalizing a heritage school like the Byramjee Jeejeebhoy Parsee Charitable Institution (B.J.P.C.I) not only preserves its rich legacy but also empowers future generations." 

He further added, "Our participation in this initiative has brought us great satisfaction, and the accomplishment strongly aligns with the core pillars of the Virtusa Foundation: enhancing access to education, preserving our environment, and empowering society." 

Rustom N.B, Trustee of The B.J.P.C institution, expressed gratitude, said, "Virtusa, our collaborators, have generously financed the restoration and renovation of the building. Their patience and timely input of funds made the difference between old and the freshly renovated appearance of our building. This building is a rarity in our city, and we are happy and honoured to say it will be sent as an entry for the UNESCO Heritage award by our architect. A resounding thanks to Virtusa Corporation from the trustees, staff, and students of The B.J.P.C.I." 

Through strategic partnerships and active community engagement, the Virtusa Foundation is dedicated to addressing societal challenges while paving the way for a brighter future. Virtusa employs an "Engineering First" approach to creative problem-solving, which empowers individuals and communities to enhance social outcomes for all. This approach is what Virtusa refers to as "Engineering with Purpose." 

About Virtusa: 

Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries. 

Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption. 

Virtusa is a registered trademark of Virtusa Corporation.  All other company and brand names may be trademarks or service marks of their respective holders. 

Photo Caption:  Mr. Rustom N.B, Trustee of the BJPC Institution and Mr. Santosh Thomas, Chief Executive Officer and Executive Director, Virtusa Corporation unveiling the coffee table book at the successful completion of the restoration project of the Institution.

Muthoot Finance Performance Highlights For Half Year Ended September 30, 2023

* Historic Highest Growth in Loan Assets of Rs. 11,771 crores in H1FY24, up by 21% YoY 

* Historic Highest Growth in Gold Loan Assets of Rs. 11,016 crores in H1FY24, up by 20% YoY

* Consolidated Loan Assets Under Management stood at Rs. 79,493 crore, up by 24% YoY

* Consolidated Profit after Tax stood at Rs. 2,140 crore for H1FY24, up by 24% YoY

* Standalone Loan Assets Under Management stood at Rs. 69,002 crore, up by 21% YoY

* Standalone Profit after tax stood at Rs. 1,966 crore for H1 FY24, up by 18% YoY

Other Key Highlights:

* Opened 331 new branches by the Group in H1FY24

* Raised Rs. 700 crores through the 32nd Public Issue of Secured Redeemable Non-Convertible Debentures which was oversubscribed on the first day of the issue

A meeting of the Board of Directors of Muthoot Finance Ltd. was held today to consider and approve the unaudited standalone and consolidated results for the quarter ended September 30, 2023.

Consolidated Results of Muthoot Finance Ltd

Muthoot Finance Ltd Consolidated Loan Assets under management grew 24% YoY to Rs. 79,493 crores as at H1 FY24 as against Rs. 64,356 crores last year. During the quarter, Consolidated Loan Assets under management increased by Rs. 2,694 crores i.e. an increase of 4% QoQ. Consolidated Profit after tax for H1 FY24 stood at Rs. 2,140 crores as against Rs. 1,727 crores last year, an increase of 24% YoY. Consolidated Profit after tax for Q2 FY24 increased by 21% YoY at Rs. 1,095 crores as against Rs. 901 crores in Q1 FY23.

Mr. George Jacob Muthoot, Chairman, The Muthoot Group said “Muthoot Finance continues its growth journey delivering 24% YoY consolidated loan AUM growth reaching Rs.79,493 crores and 24% YoY growth in consolidated profit after tax of Rs.2,140 crores for first half of FY 2024. This was aided by strong growth in gold loan portfolio of Rs.11,016 crores and  microfinance loan portfolio of Rs.2,736 crores. The increased profits came from gold loan, microfinance, housing finance as well as insurance broking businesses. We are focusing on maintaining strong leadership in gold loan business and a gradual calibrated growth in non-gold loan business comprising of microfinance, housing finance, vehicle loan , personal loans, business loans, small business loans, loan against property and corporate loans. Over the next five years, we are keen on increasing the proportion of non-gold business to 18% from present 13%.   The Indian economy continues to be resilient amidst global challenges and growth is underpinned by strong demand conditions, investment in public infrastructure and a stable financial sector. As a result, we remain optimistic on strong growth momentum for our gold loans and non-gold loan business.”

Mr. George Alexander Muthoot, Managing Director said, Our gold loan assets under management  demonstrated strong growth, led by strong demand trends in both urban  and semi-urban markets. Gold loan AUM grew 20% YoY and by 9% during the 1st half of FY 2024 reaching Rs. 67,517 crores. We also witnessed highest ever gold loan advance to new customers in any first half of a year of Rs. 8109 crores. We have continued our strategic emphasis on disbursements, operational efficiency, and margins, which has resulted in our profits growing 18% YoY at Rs.1,966 crores in the 1st half of FY2024. We strongly believe that the resilience of the Indian economy, its positive outlook coupled with optimistic consumer and business sentiments, will keep the gold loan demand strong, and we retain our guidance of growing our gold loan book by 10-15% in FY24. Further, our non-gold loan businesses in subsidiaries continue to do well, with disbursements during the first half of the year increasing by 76% to Rs.4,294 crores in microfinance business and by 164% at Rs.278crores in housing finance business. Total revenue on insurance broking business during the first half of the year increased by 85% at Rs.47crs. We retired USD denominated Senior Secured Notes amounting to USD550 Million, during 1st half of FY2024 which carried a high cost.   We also opened 331 new branches in first half of the year including in subsidiaries and we will continue to expand our range of financial solutions, enhancing customer engagement, and addressing their diverse financial needs. Our investment in digital strategy is paying off well with nearly 39% of our customer transactions now happening via our various digital channels. ”

Key Subsidiaries – ‘Growth revival continues’

Belstar Microfinance

·         Disbursements improved to ~ Rs. 4,294 crores in H1 FY24; growth of 76% YoY

·         Increase in Profit After Tax  in H1FY24 at Rs. 135 crores vs. Rs. 35 crores in H1 FY23; growth of 284% YoY which surpassed the entire profit of the previous year

·         Increase in loan portfolio of 53% YoY at Rs.7,874 crores in H1 FY24 from Rs. 5,138 crores?in H1 FY23

·         Collection Efficiency remaining more than 99% for Regular accounts

·         GNPA at 1.48 % in H1FY24 vs.  8.52% in H1 FY23; NNPA at 0.13% in H1FY24 vs.  2.41% in H1 FY23

·         Opened 164 new branches during Q2 FY24 

Muthoot Homefin

·         Gross Loan AUM at Rs. 1,616 crores in H1 FY24 vs. Rs. 1,420 crores in H1 FY23; growth of ~14% YoY

·         Disbursed Rs. 278 crores in H1 FY24 as compared to Rs. 105 crores in H1 FY23; a growth of 164% YoY

·         Interest income increased at ~18% YoY to Rs. 78 crores in H1 FY24 vs. Rs. 66 crores in H1 FY23 

·         Profit After Tax stood at Rs. 9.09 crores in H1 FY24 vs. Rs. 3.90 crores in H1 FY23; ; growth of ~133% YoY

·         Raised Rs. 150 Crore through private placement of NCD’s at competitive rates

Muthoot Insurance Brokers

·         Profit after tax has increased to Rs. 25 crores in H1 FY24 from Rs. 16 crores in H1 FY23; growth of 60% YoY

·         Increase in total revenue at 85% YoY i.e., Rs. 47 crores in H1 FY24 vs.  Rs. 25 crores in H1 FY23

Muthoot Money

·         Continued decline in NPA through physical collections witnessed consistently throughout the year. GNPA decreased to 1.76% in H1 FY24 from 5.63% in H1 FY23

·         Gross Loan Assets has increased to Rs. 630 crores in Q2 FY24 from Rs. 496 crores in Q1 FY24, up by 27% QoQ

·         Branch network increased to 276 from 185

Standalone Results of Muthoot Finance Ltd and its subsidiaries

Muthoot Finance Ltd (MFIN), India’s largest gold financing company in terms of loan portfolio, registered profit after tax of Rs. 1,966 crores in H1 FY24 as against Rs. 1,669 crores in H1 FY23, an increase of 18% YoY. The profit after tax for Q2FY24 stood at Rs.991 crores in as against Rs. 867 crores in Q2 FY23, an increase of 14% YoY. Loan assets stood at Rs. 69,002 crores in H1 FY24 as compared to Rs. 57,230 crores in H1 FY23 , registering a growth of 21% YoY. During H1 FY24, Gold Loan assets increased by Rs. 5,642 crores registering a growth of 9%. During the quarter, Gold Loan assets increased by Rs.1,478 crores.

Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, loan AUM stood at Rs. 1,616 crores in H1 FY24 as against Rs. 1,420 crores in H1 FY23, an increase of 14% YoY. During the half year, Loan assets increased by Rs. 178 crores, an increase of 12%. The loan disbursement for H1 FY24 stood at Rs.278 crores as against Rs.105 crores in H1 FY23, a YoY increase of 164%. Total revenue for H1 FY24 increased to Rs. 93 crores as against Rs. 75 crores H1 FY23. Profit after tax stood at Rs. 9 crores in H1 FY24 as against Rs. 4 crores in H1 FY23, an increase of 133% YoY.

M/s. Belstar Microfinance Limited (BML), is an RBI registered micro finance NBFC, and a subsidiary company where Muthoot Finance holds 59.02% stake. Loan portfolio for H1 FY24 increased to Rs. 7,874 crores as against Rs. 5,138 crores for H1 FY23, an increase of 53% YoY. The loan disbursement for H1 FY24 stood at Rs.4,294 crores as against Rs.2,444 crores in H1 FY23 , a YoY increase of 76%. During the half year,Loan assets increased by Rs. 1681 crores, an increase of 27% .During the quarter, Loan AUM increased by Rs. 866 crores, an increase of 12% QoQ. Profit after tax stood at Rs. 135 crores in H1 FY24, as against Rs. 35 crores in H1 FY23, up 284% YoY. Stage III Asset stood at 1.48% as of September 30, 2023 as compared to 8.52% last year. 

Muthoot Insurance Brokers Pvt. Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a total premium collection amounting to Rs. 310 crores in H1 FY24. Total revenue for H1 FY24 increased to Rs. 47 crores as against Rs. Rs. 25 crores in H1 FY23, an increase of 85% YoY. It achieved a Profit after tax of Rs. 25 crores in H1 FY24 as against Rs.16crores last year, an increase of 60% YoY.

Asia Asset Finance PLC (AAF) is a listed subsidiary based in Sri Lanka where Muthoot Finance holds 72.92% stake. Loan portfolio grew to LKR 1,958 crores in H1FY24 as against LKR 1,930 crores in H1 FY23, an increase of 1.45% YoY. Total revenue for H1 FY24 stood at LKR 346 crores. It achieved a Profit after tax of LKR 13 crores in H1 FY24.

Muthoot Money Ltd (MML), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MML is a RBI registered Non-Banking Finance Company engaged mainly in extending gold loans and loans for commercial vehicles and equipment. Loan portfolio for H1 FY24 stood at Rs. 630 crores, as against Rs. 234 crores as on H1 FY23. Total revenue for H1 FY24 stood at Rs. 47 crores.

Ashok Leyland To invest Rs 1200 Cr Into Switch Infusion To Fund Expansion Of Product Portfolio, R&D & Operations

The Board of Directors of Ashok Leyland in their meeting held today, have approved an investment of Rs 1200 cr in Switch Mobility as equity through its holding company Optare PLC UK.  The funds infused will be used for capital expenditure, R&D and meeting operational requirements both in UK and India. The funds will be infused over the next few months after necessary statutory approvals in one or more tranches.

Switch Group of Companies (Switch Mobility Ltd - UK and Switch Mobility Automotive Ltd- India) house the Electric Mobility initiative of the CV major, Ashok Leyland, focusing on e-Buses and e-LCVs.  Over the last few years, Switch India has had major success in garnering orders from State Transport Undertakings.  As on date Switch in India and UK has over 800 + buses plying successfully and has an order book of over 1200 buses.  Switch India had a successful launch of India’s only Double Decker e-Bus last year.   

In September 2023, Switch India launched its state-of-the-art e-LCVs. The company has signed MOUs of over 13000 vehicles for its much-awaited e-LCVs which it will start delivering from the fourth quarter of the current fiscal.

Mr Dheeraj G Hinduja, Executive Chairman, Ashok Leyland stated, “Electric Vehicles especially in buses and light trucks have a very bright future as Governments and private customers are driving the green agenda. We are very happy with the progress made by Switch, and we will continue to invest on building its capabilities. We are confident that Switch will grow further in the European markets with the launch in 2024 of our new E1 12m bus developed specifically for the European market. Our portfolio of electric buses will cover value and premium segments meeting all price points for many global markets”

Mr Shenu Agarwal, Managing Director & CEO, Ashok Leyland said, “The market for EVs is growing rapidly driven by the trend towards Carbon Neutrality.  The Government support is further helping the market to expand.  We will continue to build capability in this business by investing in product development as well as in expanding operations. Both India and European markets are going to be important growth centers for EV trucks and buses.  In the coming year we are expecting our e-LCVs to drive faster customer adoption. The balance sheet of Ashok Leyland can comfortably fund the initiatives of Switch.”

Invest With Prosperity: Zee Business Presents Muhurat Trading Special Show For Diwali 2023

As the festival of Diwali approaches, Zee Business is delighted to announce its special ‘Muhurat Trading’ show, set to air on Sunday, 12th November 2023. The trading session conducted on the auspicious day of Diwali, is considered a golden opportunity for investors to tap into good luck and prosperity. In 2023, Diwali Muhurat Trading will occur from 6:15 p.m. to 7:15 p.m, with Zee Business' exclusive coverage beginning from 5 p.m.

Muhurat trading holds a special place in the hearts of investors due to its auspicious timing, believed to usher in good luck and prosperity. It is a symbolic gesture, akin to a token investment made by many, who purchase shares as a means of celebrating Diwali and seeking the blessings of wealth from the goddess Lakshmi. Moreover, Muhurat trading typically unfolds amid a positive market sentiment, aligning with a general sense of optimism about the stock market's future.

Emphasizing on the relevance of Muhurat trading, Anil Singhvi Managing Editor, Zee Business said, “Diwali, a festival of illumination and prosperity, creates a unique opportunity for investors. Zee Business proudly introduces the Muhurat Trading show, where we empower our viewers with knowledge to make informed investment decisions during this auspicious time. At Zee Business, we grasp the essence of Muhurat Trading on Diwali, where faith and finance intertwine. Join us in illuminating your financial path and ensuring your investments radiate success."

With expert guidance, responsible investing tips, and the spirit of Diwali, let us all come together to make this occasion a beacon of success, paving the way for a brighter financial future.

Zee Media Corporation Ltd, one of India's leading media companies, has a strong presence in the news and regional genres, with 16 news channels in seven different languages, reaching more than 528+ million viewers through its linear and digital properties.

IIIT-Bangalore And Toshiba Software Sign MoU For Research On “Zero Touch Security In Network For 5G And Beyond Systems”

International Institute of Information Technology Bangalore (IIIT-B) recently announced signing a Memorandum of Understanding (MoU) with Toshiba Software (India) Private Limited (TSIP) to support the research project on “Zero Touch Security in Network for 5G and Beyond Systems”. A Zero Touch Network (ZTN) would help make the emerging digital society a safe place by having near-zero human intervention as well as meeting real time and dynamic requirements from different user applications which use virtualized network functions.

As a part of its CSR initiative, TSIP has funded 33,00,000 INR per year for the research project spanned across two academic years from 2023-2025. The MoU was signed by Commodore SR Sridhar (Retd), Registrar, IIIT-B and Mr. Ramdas Baliga, Managing Director, TSIP, in the presence of Prof. Debabrata Das, Director, IIIT-B. The project will be led by principal investigator, Prof. Jyotsana Bapat, IIIT-B with a team of experts executing it.

Management of ever-increasing complexity of 5G and beyond networks mandates automation of their functions. “In addition to academics, research plays a crucial role at IIIT-B and we have achieved significant breakthroughs in the realms of 5G and 6G. As the evolution of telecommunications and internet capabilities through wireless technologies continues to expand, we are pleased to collaborate with Toshiba on research focused on Zero Touch Security in Zero Touch Networks for 5G and beyond systems,” said Prof. Debabrata Das, Director, IIIT-Bangalore.

“TSIP strongly encourages industry-academia collaborations. The sphere of academia brings value in terms of knowledge, research, talent, resources, and innovation. These capabilities combined with the right mentoring bring about diverse range of perspectives and interdisciplinary approaches to problem-solving. This diversity of thought can lead to creative solutions and novel approaches to industry challenges. Toshiba’s expertise in 5G technology domain and TSIP’s vision of empowering digital agility across and beyond cyber physical systems fit perfectly into the scope of this research project. Through this collaboration, we intend to generate a positive impact and bringing value to the community”, said Mr. Ramdas Baliga, Managing Director, TSIP.

Advancement of telecommunications and internet enabled with wireless technologies, have made a huge socio-economic impact over the last few decades. Maintaining good security hygiene is a challenge anywhere in the world.

The outcomes of the project shall contribute to society and make the future networks secure with robustness so that the billions of users can seamlessly use the trusted services. By partnering with IIIT-B, TSIP aims to provide students with real-world contexts for their studies and fostering responsible and sustainable business practices.

About IIIT-Bangalore

IIIT-Bangalore is a premier institute focused on Post-Graduate IT education and research, located in the heart of Electronic City, Bangalore. IIIT-Bangalore is graded A+ by National Assessment and Accreditation Council (NAAC). In the National Institutional Ranking Framework (NIRF) for 2022, IIIT-B has secured 74th ranking. The institute was ranked number 1 among India's Best Technical Universities (Private) by India Today. IIIT-Bangalore contains state-of-the-art infrastructure, eminently qualified faculty, a vibrant alumni community, cutting-edge research facilities, and close industry collaborations.

The institute’s specially designed courses make the students cognitive of the current technologies. Experiential learning and practices followed in the institute equip them with the tools and knowledge to solve contemporary real problems. IIIT-Bangalore has consistently achieved excellent placement records every year since its establishment in 1998, thanks to the unwavering support of the industry and the expanding pool of highly skilled alumni.

For more details, log onto https://www.iiitb.ac.in

About Toshiba Software (India) Private Limited

Toshiba Software India Private Limited (TSIP) is a wholly owned subsidiary of Toshiba Group, headquartered in Bengaluru with a development center in Pune. Since its inception in the year 2002, TSIP has been at the forefront of developing cutting-edge technologies and providing innovative software solutions. 

TSIP envisions to evolve into a Digitally Agile Centre of Excellence. As a CMMI Level 5 and ISO 27001 certified company, TSIP has been growing with the results of strategic planning and execution of projects with a vision to contributing greater value towards the parent company Toshiba Corporation, Japan. 

For more, information, log on to: https://www.toshiba-tsip.com/