Vedanta Debt To Be Divided Among Demerged Firms In Ratio Of Assets

Mining conglomerate Vedanta is on track for the demerger of its key businesses, including aluminium, into separate listed companies and allocation of debt across the demerged entities would be done in proportion to their assets, sources familiar with the matter said.

Vedanta is in advanced stages of engagement with its lenders on the issue, and the process has proceeded smoothly, they said.

There is clarity about the allocation of debt across entities after the demerger. "The debt will get divided amongst the resulting demerged entities in the ratio of assets getting allocated to them as per the prescribed rules and regulations," a senior company official said at a recently concluded investor event.

Citing the example of Vedanta Aluminium, the official said the debt that would get allocated to the company would be in direct proportion to the book value of the assets held by it. This is to ensure that the transaction is tax-neutral.

Vedanta had in September last year announced the creation of demerger of metals, power, aluminium, and oil and gas businesses to unlock potential value. After the exercise, six independent verticals - Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited - will be created. For every share of Vedanta, shareholders will receive one share of each of the five newly listed companies.

After the demerger, the businesses of Hindustan Zinc as well as the electronics business will remain with Vedanta Limited. Immediately after obtaining the NOCs, the application will be moved to NCLT.

SBICAPs has been onboard to represent lenders with respect to debt allocation and they are hopeful to obtain the NOCs at the earliest, sources said. In parallel to the demerger, Vedanta is also undertaking a deleveraging programme to cut debt at the group level by $3 billion in the next three years, taking its net debt level below $9 billion.

The deleveraging is expected to be funded largely by robust internal cash flows, further supported by proceeds of strategic asset sales and potential equity partnerships.

"The demerger is expected to simplify the Group's corporate structure with sector-focused independent businesses. Each of our businesses is at a global scale hence the board decided to go for a demerger. We intend to build a corporate structure with asset ownership and entrepreneurship mind-set, where each company would chart out its growth trajectory.

"The demerger will give global investors, including sovereign wealth funds, retail investors, and strategic investors, direct investment opportunities in dedicated pure-play companies. With listed equity and self-driven management teams, the demerger would also provide individual units a platform to pursue strategic agendas more freely and better align with customers, investment cycles, and end markets," Vedanta had said in its demerger announcement.

BMW India Is The Luxury Mobility Partner At Hero Indian Open

BMW India is the exclusive ‘Luxury Mobility Partner’ at the 2024 edition of Hero Indian Open held from 28 – 31 March 2024 at the DLF Golf & Country Club. Showcasing the symbol of forwardism, BMW India will exhibit the all-new BMW 7 Series and the first-ever fully electric BMW i7.

The pinnacle of luxury and innovation can be experienced at the Hero Indian Open, where a prestigious fleet of BMW i7 will grace the event, reflecting the perfect blend of elegance and cutting-edge technology. The BMW iX xDrive50 will be awarded as a Hole in One prize.

Mr. Vikram Pawah, President, BMW Group India said, “We're thrilled to further our commitment as the exclusive 'Luxury Mobility Partner' for the Hero India Open, bringing the unparalleled BMW experience closer to golf aficionados. With the fully electric BMW iX xDrive50 as the coveted 'Hole in One' award, we're excited to blend the spirit of innovation with the prestigious tradition of golf at the Hero Indian Open.”

The Hero Indian Open this year will be a part of the Asian Swing of the DP World Tour, bringing added benefits for the Swing Champion. The tournament will see 144 players compete for the trophy, with the winner receiving a handsome USD 382,500.

BMW iX

Born Electric: The BMW iX is the BMW Group’s new technology flagship. It is the first BMW without any numerals in its designation. ‘iX’ stands for the first BMW electric all-wheel drive vehicle (SAV – Sports Activity Vehicle). It effortlessly combines premium mobility with zero-emissions, sporting agility and a long operating range with luxurious spaciousness. The BMW iX is available as completely-built-up unit (CBU) in two variants - the BMW iX xDrive40 and BMW iX xDrive50 and can be booked through BMW dealerships across major metropolitan cities in India as well as shop.bmw.in.

Characterised by sculptural and monolithic design, the iX represents a new face that makes mobility easier and comfortable while creating powerful presence. Interior is minimalist yet spacious with a feeling of ease and relaxation with freedom of movement giving it a lounge-like atmosphere. A host of BMW ConnectedDrive technologies continue to break the innovation barrier. The Fifth generation BMW eDrive technology features a highly integrated drive unit within a single housing that is powered by two electric motors (for front and rear axles), single-speed transmission and power electronics. The iX instantly accelerates from 0 to 100 kilometers/hour in 6.1 seconds with an output of 326 hp. ‘My Modes’ switch changes driving character to Personal, Sport or Efficient. BMW IconicSounds Electric creates engaging driving sounds and pedestrian alerts. Two high-voltage batteries integrated in the floor have a combined capacity of 76.6 kWh and provide a range of up to 425 kilometers.

BMW i7

BMW i7 is a true all-electric luxury sedan that clearly demonstrates how an exclusive driving experience can be combined with an unwavering commitment to sustainability. BMW’s flagship luxury sedan with its enhanced level of comfort and the unique in-car entertainment system takes a pioneering route to maximising wellbeing inside the car. The i7 offers all-electric innovation, visionary design, and powerful driving dynamics so that you can make a striking impression everywhere you go.

"SecurEyes Urges Data Backup Vigilance On World Backup Day"

In today’s hyper-connected world, data is the kingmaker. As our lives become increasingly reliant on technology, World Backup Day on March 31st serves as an important reminder on the importance of protecting our valuable digital assets.

The primary goal of World Backup Day is to emphasize the significance of backing up data regularly to prevent data loss due to various reasons such as hardware failure, malware attacks, accidental deletion, or natural disasters.

The Day was first observed in 2011 by a group of Reddit (Reddit is a social news aggregation, web content rating, and discussion website)  users who wanted to promote the importance of data backup. Since then, it has gained recognition and support from individuals, businesses, and organizations worldwide.

From cherished family memories captured in photos to critical business documents, the reliance on digital data has never been greater. This year, as we observe World Backup Day, SecurEyes, a pure-play cybersecurity consulting services, and products company that also provides cybersecurity training and education, advises people to understand the importance of backing up their data, which can save them from potential consequences of a cyber crisisdisaster.

Emphasizing the importance of backup, Karmendra Kohli, CEO of SecurEyes, opines, “Any data today is more vulnerable than ever before. Implementing robust backup strategies acts as strong mitigation measure to safeguard against data loss due to cyber threats.”

Seemanta Patnaik, CTO of SecurEyes, says, “I hope this World Backup Day serves as a catalyst to prioritize data protection, data security and data resilience. It is important to practice regular backups to minimize risks and ensure uninterrupted operations.”

Risks and Challenges 

The explosion of digital data is staggering, with projections indicating that the global datasphere could reach a massive 180 zettabytes by 2025. This includes everything from social media posts and emails to financial records and professional presentations. With such an overwhelming volume of data being generated, the risk of data loss looms larger than ever before.

One of the most potent threats to our digital security is the rise of ransomware attacks. These malicious programs encrypt your data, essentially holding it hostage until a hefty ransom is paid. In 2023 alone, ransomware attacks increased by 66%, reportedly, highlighting the urgent need for robust backup solutions – which can act as the primary mitigation against such attacks.

While many turn to cloud storage for its convenience and accessibility, it’s essential to recognize that it’s not infallible. Accidental deletions, service outages, and even account breaches can result in data loss. 

Understanding the Consequences of Data Loss

The repercussions of data loss reach far beyond mere inconvenience and can have profound emotional and financial impacts. Losing irreplaceable photos, videos, and documents can be heartbreaking, while businesses that lose critical data face lost productivity, reputational damage, and potential legal issues.

Common causes of data loss include hardware failure, software corruption, cyberattacks, and accidental deletion. Each of these poses a significant risk, with potentially devastating consequences in terms of both personal attachment and financial loss.

Harnessing the Power of Backups

Fortunately, the power of backups offers a lifeline in the face of digital disaster. A backup is simply a copy of your information stored on a separate device or location, acting as a safety net that allows you to restore lost or corrupted data with minimal fuss. Different backup methods, such as local and cloud backups, offer varying advantages, from faster access and control to convenience and accessibility.

Local backups involve storing your data on an external hard drive or USB flash drive, providing a tangible sense of security and control. On the other hand, cloud backups utilize online storage services, offering convenience and accessibility from anywhere with an internet connection. Regardless of the method chosen, the key is to ensure redundancy and regularly test backups to verify their functionality.

“On World Backup Day, we urge individuals and businesses alike to take action and create a simple yet effective backup plan. Start by identifying critical data and understanding what is most important to you, whether it’s personal photos, financial records, or work documents,” added Mr. Patnaik.

Consider a combination of local and cloud backups to ensure redundancy, following the 3-2-1 backup strategy (three copies, two different media, one offsite location) for added redundancy, resilience and security (availability).

Benefits of a Strong Backup Plan

Peace of Mind and Reduced Stress: A recent study found that data loss can lead to significant stress and anxiety. Knowing your data is safeguarded allows you to relax and focus on what matters most. 

Increased Productivity and Efficiency: When disaster strikes and data loss occurs, the time spent recovering information can significantly disrupt your workflow. Having a readily available backup minimizes downtime and allows you to resume your activities quickly.

As per reports (https://securitytoday.com/Articles/2024/03/11/Study-Insider-Driven-Data-Loss-Events-Cost-an-Estimate-15-million.aspx) , a study estimates that data loss events can cost businesses an average of INR 28,13,434 per hour. Implementing backups helps minimize such financial losses.

KPIL Awarded New ORrders Includes T&D, Metro Rail Projects Of Rs 2,071 Crores

Kalpataru Projects International Limited (KPIL), one of the largest Engineering & Construction companies listed in India along with its Joint Ventures (JVs) and international subsidiaries have secured new orders/notification of awards of Rs 2,071 Crores.

The details of the aforesaid new orders are as follows:

·         Orders in the Transmission & Distribution (T&D) business in overseas markets

·         Order for design & construction of an underground metro rail project in India

Manish Mohnot, MD & CEO, KPIL, said, “We are happy with the new order wins, reinforcing our optimistic outlook for the T&D and Urban Infra business. The T&D orders in Brazil and underground metro rail-tunnelling order in India have significantly enhanced growth visibility for Fasttel and Urban Infra business going forward.

KPIL’s order intake (including LOAs/LOIs) in the current financial year stands at record high of ~?30,000 Crores including some large and strategic order wins in T&D, B&F, Oil & Gas and Urban Infra business. This landmark achievement has been on several counts - intensive efforts that we have been putting in over last several years on improving our geographical footprints in high growth EPC markets, developing strong client relationships and penetrate deeper into the focused businesses on back of our strong technical and execution capabilities. Our robust order book position and established execution capabilities gives us confidence to deliver good growth going forward. ”

About Kalpataru Projects International Limited (KPIL)

KPIL is one of the largest specialized EPC companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways and Airports. KPIL is currently executing projects in over 30 countries and has a global footprint in over 70 countries. KPIL has maintained a leadership position in all its major businesses backed by strong organisational capabilities, superior technical know-how, and adherence to best-in-class sustainability standards.

Manipal Academy of Higher Education Manipal Unveiled A new Bio-LC Analytical System To Enhance esearch Output

In a significant stride towards enhancing research capabilities, Manipal Academy of Higher Education (MAHE) Manipal inaugurated a state-of-the-art Agilent Bio-LC Infinity II analytical system as a part of the MAHE Core Research Facility at Manipal Centre for Biotherapeutics Research. The Bio-LC system was unveiled by the honorable Vice Chancellor of MAHE Lt. Gen. (Dr.) M D Venkatesh and Pro Vice-Chancellor of Health Sciences Dr. Sarath K Rao, marking a proud moment for the institution. Dr. Vadiraja Bhat, Business Development Manager of Agilent Technologies India Pvt. Ltd., and Dr. B S Satish Rao, Director, Directorate of Research, MAHE, graced the event as guests of honor.

Lt. Gen. (Dr.) M D Venkatesh urged scientists and Ph.D. scholars across disciplines to leverage this innovative facility to advance research in life sciences, health sciences, and technology. “May this cutting-edge facility not only aid our present endeavors but also lay a strong foundation for future research initiatives, fostering interdisciplinary collaboration and enabling breakthroughs that will shape the landscape of science and technology for years to come”, he further added.

Dr. Sharath Rao emphasized MAHE’s continuous efforts in investing significantly in building new research infrastructure to establish “MAHE Research Park”soon. He said, “Through our relentless pursuit of research excellence and strategic investments in advanced facilities, we are dedicated to empowering our scholars to chart new frontiers in knowledge sharing, innovation, and societal impact”.

The newly installed system boasts of bio-inert operation, ensuring minimal interference from columns and tubing, particularly beneficial for analyzing sensitive biological samples such as oligonucleotides, peptides, neurotransmitters, metabolites, and pharmaceuticals, Dr. Vadiraja Bhat announced.

Heads of the institutions and faculty members from different health sciences and technology disciplines of MAHE attended this inaugural ceremony. Welcoming the gathering, Dr. Raviraja N S, Professor and Coordinator of MCBR, expressed heartfelt gratitude to the visionary leadership of MAHE that has led to the realization of this core facility as we celebrate the “Year of Research Excellence” at MAHE. He also acknowledged the unwavering support of the scientists and researchers of MAHE from various disciplines. Dr. Souvik Dey, the coordinator of this core facility emphasized the transformative impact of the ultra-HPLC system, highlighting its enhanced performance and efficiency over conventional HPLCs.

Dr. Raghavendra Upadhya, Assistant Professor, MCBR, MAHE, delivered the vote of thanks and Ms. Aditi Khamamkar anchored the program.

The inauguration marked a proud moment for MAHE and all its stakeholders, solidifying the institution's commitment to driving forward innovative research and setting a promising trajectory for a future of research excellence. 

Samsung Announces Roll Out Of Galaxy AI On More Flagship Devices; Democratising Mobile AI Experience

Samsung, India’s largest consumer electronics brand, today announced the roll out of Galaxy AI features on more Galaxy flagship devices engineered to further the democratization of mobile AI. The roll out is set to commence starting today and will be available across the Galaxy S23 series, S23 FE, Z Fold5, Z Flip5 and Tab S9 series. Aligning with the recently launched Galaxy S24 series, the update elevates the standard of users’ mobile AI experience.

With the roll out of the Galaxy AI features, users of Galaxy S23 series, S23 FE, Z Fold5, Z Flip5 and Tab S9 series will now be able to take advantage of several features including Circle to Search, Live Translate and Note Assist amongst others. The broader integration of Galaxy AI across the Galaxy ecosystem also enables a seamless user experience in day-to-day tasks on AI-supported models, driving new levels of efficiency.

Circle to Search with Google generates insightful, high-quality Google search results when you simply circle, highlight or tap any image on your display.

Live Translate produces two-way, real-time voice and text translations of phone calls, making it easier than ever to book reservations while traveling or chat with your grandparents in their native language.

Note Assist can create AI-generated summaries, pre-formatted templates and cover pages, elevating your day-to-day productivity. Chat Assist can help perfect conversational tones by generating context-aware suggestions to ensure communication sounds as it was intended, whether it is a polite message to a coworker or a short catchy phrase for a social media caption.

Interpreter can instantly translate live conversations through a user-friendly split-screen view, allowing people standing opposite each other to read a text translation of what the other person is saying. Transcript Assist uses AI and Speech-to-Text technology to transcribe, summarize and even translate voice recordings.  Browsing Assist helps you stay up to speed on what is happening around the world while saving time by generating concise summaries of news articles or web pages.

Generative Edit gives you even more creative freedom to resize position and align objects even after the photo is taken.  Edit Suggestion gives you your own personal photo editor that uses AI to suggest perfectly suitable tweaks for each photo.

Customers can purchase Galaxy S23 Ultra at an effective price of just INR 99999, which includes a HDFC Bank cashback of INR 5000 and an additional upgrade bonus of INR 5000. Galaxy S23 is available at an effective price of INR 55999 with INR 5000 HDFC Bank cashback and an additional upgrade bonus of INR 4000. Similarly, Galaxy S23 FE is now available at only INR 44999 after a HDFC Bank cash back of INR 5000 and an additional upgrade bonus of INR. 5000.

Galaxy Z Fold5 is available at an effective price of INR 138999, which includes an HDFC Bank cashback of INR 7000 and an additional upgrade bonus of INR 9000. Galaxy Flip5 can now be owned at an effective price of INR 85999 with an HDFC bank cash back of INR 7000 and an upgrade bonus of INR 7000.

Galaxy Tab S9 series is available at an effective starting price of INR 60999, which includes a HDFC Bank Cashback of INR 9000 and an additional upgrade bonus of INR 3000.

Consumers can now experience the Galaxy AI features at an EMI starting at just INR 2292 per month through Samsung Finance+ and all leading NBFC partners with No-cost EMI of up to 24 months.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For latest news on Samsung India, please visit Samsung India Newsroom at http://news.samsung.com/in. For Hindi, log on to Samsung Newsroom Bharat at https://news.samsung.com/bharat. You can also follow us on Twitter @SamsungNewsIN.

Global Waste Production Has Shown No Signs Of Slowing Down., Says Shaina Ganapathy, Head of Community Outreach, Embassy Group

* A Collaborative Approach for a Greener Tomorrow by Embassy Group

Global waste production has shown no signs of slowing down., says Ms. Shaina Ganapathy, Head of Community Outreach, Embassy Group on the occasion of International Day of Zero Waste Over and adds that two billion metric tonnes of municipal solid waste (MSW) are generated annually worldwide, and this number is projected to rise by approximately 70 percent by 2050. While governments and international organisations need to take steps to address this issue, it is vital to build local awareness and encourage active grassroots involvement. Above all, the scale of the environmental challenge facing us requires a collaborative and multi-stakeholder strategy.

At Embassy Group, we have implemented various green practices that foster collaboration and a holistic approach to waste management, such as:

Embassy, through a partnership with The Anonymous Indian Charitable Trust (TAICT), has been working in the Bettahalasuru Panchayat in North Bengaluru since 2016 to address the issues of irresponsible disposal of waste and the depletion of soil and water. The panchayat suffered from air, water, and soil pollution, with around 53 metric tonnes of waste per month being dumped and burned. To increase community involvement and understanding of sustainable living methods, the partners launched the EcoGram programme. EcoGram aims to create an ecologically sound, replicable model gram panchayat.

To complement the solid waste management infrastructural solutions provided in the Bettahalasuru Panchayat, we have placed an emphasis on community engagement and awareness initiatives for women and children. Bolstered by the "Ecogram Shakti Programme," the initiative empowers over 50 women from these villages to drive environmental sustainability in their communities. 

What began as a pilot project in the Tarahunise village now encompasses ten villages in the Bettahalasuru Panchayat. In 2022, Embassy built EcoHub, an integrated solid waste management centre that benefits over 4,000 households.

On the occasion of the International Day of Zero Waste, it is important to recognise the role that citizen and local-led environmental movements can play. Involving local and key stakeholders greatly increases the effectiveness of engendering systemic change and increasing accountability. Harnessing the strength of our communities and partnerships ensures that we are laying a groundwork for continued and future change.

As champions of sustainable practices, we will continue our endeavours to reduce environmental degradation and create greener communities. Our agenda is to join hands with other corporate, government bodies, and NGOs to create a culture of collaboration and corporate sustainability said Shaina Ganapathy, Head of Community Outreach, Embassy Group on the occasion of International Day of Zero Waste.