Tata Motors Leads SUV Market With Nexon And Punch Across India

Key highlights:

Nexon ranked as the #1 SUV three years in a row (as of FY24)

Nexon celebrates 7 Lakh Sales milestone and its 7th Anniversary

Nexon and Punch ranked as #1 and #2 in the SUV category for FY24

Punch became the #1 selling car in March and April 2024

Nexon.ev and Punch.ev become the first EVs to achieve 5-star BNCAP rating, with Punch.ev becoming India’s safest EV

Tata Motors, one of India’s leading automotive manufacturers, ended FY24 on a high, with its two products, Punch and Nexon, emerging as the best-selling SUVs in the country. Tata Nexon grabbed the pole position, dominating this segment three years in a row, despite aggressive competition in the segment, with Punch being a close second. Tata Nexon also recently achieved the magnanimous 7 lakhs sales milestone in its 7th year making it the most loved SUV of India.

The compact SUV segment has shown remarkable growth over the years, making it the most competitive and contested segments and Tata Motors is committed to be one of the leaders in this space. It is evident from the company’s consistent investment in various innovations for the Nexon and Punch.

About Nexon:

Since its launch in 2017, the Nexon has attracted customers who seek uniqueness and something out of the box while also delivering top-tier performance and comfort. Nexon’s futuristic design, superior safety features and consistent evolution have made it a popular choice among Indian consumers, earning it a reputation for reliability. Nexon was India’s 1st GNCAP 5 star rated vehicle in 2018, which set the benchmark for all Indian automobiles to follow. The legacy has continued ever since. In Feb 2024, the new gen Nexon received its GNCAP 5 star rating as per the enhanced 2022 protocol, which was soon followed with the Nexon.ev achieving the prestigious 5-star rating from Bharat-NCAP, this month.

Winner of 41 coveted awards and 7 lakh Nexons on the Indian roads, its stellar performance is evident in its accelerated sales growth, with over 3 lakhs units sold in just the last two years (2022 and 2023). Available in multiple powertrains – petrol, diesel and electric, brand Nexon has grown in strength with time and built a loyal fan base for its class leading design, segment best features and a tech forward experience.

About Punch:

The Tata Punch on the other hand has democratized the SUV attributes. Its uncompromising design, comfort, and proven capability appeal to both existing and first-time buyers. Offering a SUV stance, spacious interiors, and the highest safety rating in its segment (GNCAP 5 star rated), the Punch is undoubtedly a comprehensive package. Furthermore, the Punch.ev recently received a 5-star BNCAP rating, making it India’s safest vehicle. On the whole, the Punch has led the charge in the sub-compact SUV segment with a commendable 170,076 units sold in FY24 coagulating its position in the market. As of March 2024, the Punch become the #1 selling car in the industry.

The compact SUV market in India has witnessed a substantial development in the past few years manifested by the steady growth in the market share. Within this segment, industry has witnessed a rise from 4% to 7% in the market share and in the bigger SUV market, the market share has grown from 8% to 14%. This surge highlights the increasing demand and appeal of the compact SUVs across the automotive landscape reassuring their position as a leading force in the industry.

Mobicule Accelerates Growth In South India; Phygital Debt Resolution Space Through Expansion In Bengaluru And Chennai

* Increasing Employee Strength By 200 For Its integrated  Contact Center And Print – To – Post Facility

* Mobicule Technologies  with its path breaking platform helps banks and NBFCs to enhance their Debt Resolution efficiency and reduce bounce rates. This expansion not only aims to tap into Bengaluru's rich talent pool but also sets new standards in the fintech industry, reflecting Mobicule's commitment towards  delivering actionable difference, innovation and quality service.

Mumbai-based, Mobicule Technologies Pvt. Ltd., a frontrunner in Phygital Debt Resolution and customer onboarding, proudly announces its strategic expansion in the South India market, marking a significant step towards enhancing its presence and capabilities in the Phygital Debt Resolution sector. This expansion is highlighted by the establishment of an integrated Phygital Contact Center  in Bengaluru and print-to-post facility in Chennai, designed to drive growth and improve service delivery in the region.

Following the successful launch of its Phygital Contact Centre and the Intelligent “Print-to-Post” solution in Mumbai, Mobicule Technologies continues to make substantial strides in the fintech sector. The company is set to enhance customer experience strategies for banks and NBFCs, reduce bounce rates, and improve the efficiency of Debt Collection and Recovery through advanced user behaviour analytics, risk assessment, and a combination of digital, AI-enhanced, and physical communication strategies.

The hub office in Bengaluru will serve as a vital cog in the wheel for Mobicule's operations in Southern India, supporting a broad spectrum of functions, including sales and support  office and a fully integrated Phygital Contact Center. This facility is expected to host a significant number of new employees ranging from tech specialists and data analysts to customer service representatives and managerial staff, reflecting Mobicule’s dedication to local talent and economic growth.

Siddharth Agarwal, Founder and Managing Director of Mobicule Technologies, emphasized the strategic importance of this expansion, "Expanding into Bengaluru aligns perfectly with our strategic objectives to bolster our market presence and tap into the abundant local talent, propelling our innovative solutions to new heights. This expansion is more than just a growth strategy; it represents Mobicule's ongoing commitment to revolutionize debt resolution services through cutting-edge technology.

Yatin Pednekar, co-founder and CTO of Mobicule Technologies, further emphasized, “The strategic importance of Bengaluru in the company's expansion plans. He notes, 'Bengaluru's dynamic environment and its renowned status as India’s tech hub are instrumental in driving our growth and pioneering initiatives in the fintech sector. This city’s vibrant economic landscape provides the perfect ecosystem for innovation and technological advancements. Yatin further highlights how Mobicule Technologies harnesses cutting-edge technologies, stating, 'We utilize advanced artificial intelligence, machine learning, and real-time analytics as part of our core strategy.

Raju RamaSwamy, Head – Growth Markets and Alliances said “Our partner strategy has provided thrust to further strengthening our positioning as an end-to-end platform for collection and debt resolution. Through this collaboration, we leverage the technologies and services from top Cloud, communication and payment gateway providers, Feet on street, Contact Center solutions and legal service ecosystems.  This has allowed our customers to deploy new services quickly, integrating tightly and deliver a best-in-class customer experience.

With these new initiatives in Bengaluru and Chennai, including the sales office and integrated Phygital Contact Center and one of its kind fully automated Print-to-Post facility , Mobicule Technologies is set to significantly enhance its service offerings and customer interaction, establishing new benchmarks in the fintech industry.

JSW Infrastructure Has Agreed To Acquire Majority Stake In Navkar Corporation Limited

JSW Infrastructure Limited (the “Company”), a part of the JSW Group and India’s second-largest private commercial port operator, through its wholly owned subsidiary JSW Port Logistics Private Limited (the “Acquirer”), has agreed to acquire 70.37% shareholding held by Promoters and Promoter Group in Navkar Corporation Limited (“Navkar”). Necessary definitive agreements have been signed between the parties.

The completion of the acquisition is subject to the receipt of customary approvals required from certain regulatory bodies and the completion of identified conditions precedent.

Navkar Is listed On BSE And NSE. It’s key operating facilities are:

·        One Container Freight Station (CFS) and Gati Shakti Cargo Terminal at Somathane, Pavnel and Two CFS at Ajivali, Panvel.

·        An Inland Container Depot (ICD) at Morbi, Gujarat. The ICD is part of the Multimodal Logistics Park (MMLP).

Navkar also has a Container Train Operator License of Category 1 and Category 2. Navkar has established a foothold with facilities in the Western India industrial belt across the states of Maharashtra and Gujarat and leveraged its railway capability to extend its service network to Pan India.

The acquisition aligns with the Company’s strategy to pursue value-accretive organic and inorganic opportunities in the port and related infrastructure sector. The acquisition will result in the Company's foray into logistics and other value-added services. It will facilitate the business to offer improved port connectivity and streamlined supply chain solutions to its customers.

The acquisition also marks a first step towards the Company’s long-term vision of building and scaling an efficient pan-India logistics network for last-mile connectivity. Further, it complements the growth strategy of increasing the Company’s share of port-related container cargo driven by India’s strong economic fundamentals.

As a result of the Proposed Transaction, the Acquirer will be required to make an open offer in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

JM Financial Limited acted as the exclusive financial advisor to the Company for this transaction.

About JSW Infrastructure Limited:

JSW Infrastructure Limited is part of the JSW Group. JSW Infrastructure Limited is the second largest private commercial port operator in India having environment-friendly seaports & terminals. It currently operates ten port concessions strategically located on the west and east coasts of India. Its international presence includes a Liquid tank storage terminal of 4,65,000 cubic meters in Fujairah, UAE. The existing ports and terminals of the Company can handle a wide range of cargo and vessels up to Cape size. Its largely mechanized cargo handling system enables quick turnaround times while ensuring efficient use of existing resources. The strategic locations of these facilities make its ports a preferred option for its customers. JSW Infrastructure Limited has expanded its cargo mix by leveraging its locational advantage and maximizing asset utilization. As part of its future growth strategy, the Company plans to enhance its overall cargo-handling capacity to 400 MTPA by 2030 or earlier. It is also strengthening its market position by focusing on value-added offerings with end-to-end logistic support and a diversified cargo profile. JSW Infrastructure is committed to strengthening its ESG performance across the operational ecosystem by aligning its policies and practices with international standards. As a multinational conglomerate, JSW Group has a significant presence in sectors such as steel, energy, infrastructure, cement, sports, and venture capital among others.

G. Srinivasa Raghavan Appointed Chairman of NEXUS Automotive International

* First Asian to be appointed to this position

G. Srinivasa Raghavan, Managing Director - Ki Mobility Solutions and CEO & Global President - TVS Mobility has been elected as Chairman of the Board of Directors of NEXUS Automotive International. Ki Mobility Solutions is a leading Indian player in the independent automobile aftermarket business. This appointment strengthens, NEXUS’ as a “growth accelerator” and “innovative” strategies.

In line with NEXUS’ DNA since its creation 10 years ago, NEXUS has elected a leader coming from a fast-growing market, India, as Chairman of its Board of Directors. It is the first time that an Indian leader is taking a global responsibility of that kind in the Automotive Aftermarket, reflecting the rising role of India in the overall Global economy.

This election sends a powerful message to the entire automotive industry, underscoring Nexus's rising influence in India and broader Asian markets. It demonstrates at the same time how innovation is at the heart of NEXUS’ DNA, Raghavan being the leader of Ki Mobility Solutions (TVS Mobility), a very innovative start-up that is heading towards a large success. It also highlights the company's dedication to expanding its geographical reach, following the leadership of former chairmen from the Middle East (Akram Sharour) and South America (Gerson Prado).

With G. Srinivasa Raghavan steering the Board of Directors, the company is set to continue its trajectory of success, reinforcing its global presence and accelerating the pace of innovative investments within the Global Automotive Aftermarket landscape.

Gaël Escribe, CEO of NEXUS, commented on the election; “Raghavan's appointment aligns perfectly with our core values and our commitment to investing in and supporting activities in fast-growing markets. His leadership will drive us forward and embark on a new decade of global reinforcement. Our new motto, ‘Brightening our future,’ encapsulates our vision for growth and innovation in the coming decades.”

G Srinivasa Raghavan, Managing Director - Ki Mobility Solutions and CEO & Global President - TVS Mobility added, “I am honoured to take on this role at such a pivotal time for NEXUS. We are poised to strengthen our position as a leader in the automotive aftermarket industry, facing major challenges head-on. Innovation in a fast transformation industry is a key answer to take benefits from rising opportunities”.

  

PNB Strengthens Partnership With “Indian Army Through PNB Rakshak Plus Addendum”

To further strengthen its support to the armed forces, PNB, nation’s leading public sector bank, has enhanced the insurance coverage and other benefits for all serving personnel of the Indian Army under its flagship scheme – “PNB Rakshak Plus” w. e. f. 01.04.2024.

The addendum to the existing MoU was signed by PNB Chief General Manager Shri Sunil Agrawal and Major General V K Purohit, AVSM, YSM, SM, Additional Director General Personal Services in the presence of PNB Executive Director Shri Kalyan Kumar and Lt. Gen. V Sreehari, AVSM, SC, SM, Director General Manpower Planning & Personal Services, and other senior officials from the Bank and the Indian Army at the office of the Additional Director General Personal Services (ADG PS) Directorate, Adjutant General’s Branch, Army Headquarters.

Apart from this, several additional benefits are being offered to the dependents and families of Rakshak Account holders.

Photo Caption: PNB ED Shri Kalyan Kumar (Centre Right), Lt. Gen. V Sreehari, AVSM, SC, SM, Director General Manpower Planning & Personal Services (Centre Left), Major General V K Purohit, AVSM, YSM, SM, Additional Director General Personal Services (Right) & PNB CGM Shri Sunil Agrawal (Left)

IndusInd Bank Roots For MSME Growth And Success With Focused Banking Initiatives

* The Bank offers a plethora of tailored banking solutions to support the MSMEs

On the occasion of International MSME Day today, IndusInd Bank recognizes the essential role that Micro, Small, and Medium Enterprises (MSMEs) play in India's economy, by introducing the knowledge series named “Level Up”, and highlights a range of MSME-focused initiatives implemented by the Bank. The ‘IndusInd Bank Level Up’ is a knowledge series wherein successful business owners and C-suite executives provide MSMEs with insights on strategic planning, financial management, digital transformation, and market expansion, which further aims to equip businesses with practical strategies to navigate challenges and foster sustainable growth in competitive markets. With an aim to facilitate easy credit access, reduce operational costs, and ensure business continuity for MSMEs, IndusInd Bank is doubling down on its commitment to strengthen the sector.

To make these banking initiatives available and thereby empower MSMEs to thrive and expand seamlessly, IndusInd Bank has established 126 MSME Hubs across India, strategically situated in concentrated MSME activity areas. These hubs offer tailored banking experiences with expedited loan approvals, customized products, and expert guidance. Besides this, the Bank also prioritizes digital transformation to ensure quick sanctions and disbursals in the MSME segment. Additionally, to provide quick funds, reduce administrative burden, and enable growth, the Bank's GSTOD (Goods and Services Tax Overdraft) product allows registered MSMEs to get instant sanction of funds up to ?2 crores with minimal documentation and a one-time GST OTP.

In its constant endeavor to evolve product offerings for MSMEs, Bank’s most recent initiatives include the ‘IndusWE’ program, empowering women entrepreneurs with not just banking but with holistic support of other services that will enable their business growth.  Further, Bank offers CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprise) backed loans to eligible MSME borrowers under the Government’s CGTMSE scheme, wherein collateral-free financing up to ?5 crores is provided, enhancing credit accessibility.

IndusInd Bank has been always leading in the sustainability front and as one of the leading initiative, the Bank also offers ‘Solar power financing’ that supports MSMEs in adopting solar energy, reducing costs sustainably. Bank has also introduced ‘Loan Protect’ product to ensure business continuity for MSMEs against unexpected disruptions for MSMEs.

Mr. Sanjeev Anand, Head - Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank, said, “India’s MSMEs are fundamental to the nation's growth and serve as the backbone of the Indian economy. As our country strives for a $5 trillion GDP, MSMEs will be key in achieving this milestone, augmented by various government initiatives that are designed to enhance their competitiveness and growth. This MSME Day, IndusInd Bank recognizes the contributions of MSMEs to India's economy and remains steadfast in its effort to support their growth and success.”

About IndusInd Bank:

IndusInd Bank Limited commenced its operations in 1994 catering to the needs of consumer and corporate customers. Since its inception, the Bank has redefined the banking experience for its customers including various government entities, PSUs, retail and large corporations. As on March 31, 2024, IndusInd Bank has a customer base of approx.39 million, with 2984 Branches/Banking Outlets and 2956 ATMs spread across geographical locations of the country and covering 157000 villages. The Bank has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology that supports multi-channel delivery capabilities. It enjoys clearing bank status for both major stock exchanges BSE and NSE and settlement bank status for NCDEX. It is also an empanelled banker for MCX.

RATINGS 

Domestic Ratings: 

·         CARE A1+ for Certificate of Deposits

·         CRISIL AA + for Infrastructure Bonds program/Tier 2 Bonds 

·         CRISIL AA for Additional Tier 1 Bonds program 

·         CRISIL A1+ for certificate of deposit program / short term FD programme

·         IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research 

·         IND AA for Additional Tier 1 Bonds program by India Ratings and Research 

International Rating: 

·         Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service 

Visit us at?https://www.indusind.com/

Ramky Infrastructure Limited Bags Contracts Worth INR 131.19 Crores In The Union Territory of Ladakh

Ramky Infrastructure Limited a leading organization in the realm of infrastructure development has received two orders to implement the distribution of the infrastructural works of Ladakh Power Development Department from Power Grid Energy Services Limited. The first contract worth ?107.39 Cr (Excluding GST) and the second contract worth ?23.80 Cr (Excluding GST) for the supply of plant and installation services respectively, in the districts of Leh & Kargil of UT of Ladakh.

PowerGrid Energy Services Limited, a wholly-owned subsidiary of PowerGrid Corporation of India Limited has awarded the contracts to Ramky Infrastructure Limited to be executed over a period of 30 months. The contracts were awarded for the loss reduction work under the Revamped (results-linked) Distribution Sector Scheme (RDSS) in the Leh district.

The RDSS scheme is intended to minimize the Aggregate Technical & Commercial (AT&C) losses in Ladakh, which are projected to be reduced from 49.04% in 2021-22 to 27.85% by 2024-25. With a sanctioned cost of Rs. 687.05 Crores, the RDSS includes the Grid connectivity of the Changthang Region, Downline infrastructure in the Zanskar Region along with the Loss Reduction works in the Leh and Kargil Districts of UT of Ladakh.

The scope of the project broadly involves the construction and commissioning of seven 66KV electricity substations, 70 km of new electricity distribution lines, 550 km of reconditioning by AB cable, and the installation of approximately 400 distribution transformers.

On receiving the contracts in the northernmost union territory of India, Mr. Y. R. Nagaraja,  Managing Director of Ramky Infrastructure Limited said “We are pleased to be awarded to execute the contracts for the loss reduction works in the Leh district of the Ladakh union territory as it reflects our commitment and adherence to quality standards. This project enhances our capability to develop urban infrastructure projects in challenging and complex terrains. We look forward to executing the contract by late 2027 or early 2028.

The government aims to improve operational efficiency and financial sustainability through these projects. They will offer result-based financial aid to DISCOMs for strengthening supply infrastructure, contingent on meeting pre-qualifying criteria and achieving fundamental benchmarks.

About Ramky Infrastructure

Ramky Infrastructure Limited (Ramky) is a flagship company of Ramky Group, one of the leaders in the realm of infrastructure development. Since the incorporation of its business in 1994, the Company has completed a wide range of construction and infrastructure projects focusing on Industrial Infrastructure development and EPC projects in the fields of Water, Waste Water Treatment, Roads, Bridges, and Urban Infrastructure Development. With a highly skilled team of over 2000 people, Headquartered in Hyderabad, Telangana, it manages its business operations in India & overseas markets.

Ramky Infrastructure Limited is an infrastructure development-centric, environment-concerned, and development-oriented company. Ramky is ISO 9001:2015 (QMS), ISO 14001:2015(EMS), and ISO 45001:2017 (OHS) certified for Quality Management Systems, Environment Management Systems, and Occupational Health & Safety Management Systems which the Company applies to the design, development, engineering, procurement and construction of projects.

For more details visit https://ramkyinfrastructure.com/