21 Students of Aakash Educational Services Limited (AESL) Secure AIR 1; 39 Students Feature In Top 100 In NEET UG 2024

* 21 Students Achieve a Perfect 720/720 Score, Securing AIR 01

* 39 Aakashians Secured Positions in Top 100; 28 are from Classroom Program, 10 are from the Distance Learning Program (DLP), and 1 is from the Digital Program.

Aakash Educational Services Limited (AESL), the national leader in test preparatory services, proudly announces that 21 of its students have secured All India Rank (AIR) 1, and 39 students have secured positions in the top 100 in the NEET UG Examination 2024. The National Testing Agency (NTA) released the revised results on Monday.

An impressive 21 students achieving a perfect score of 720/720, along with 39 students securing positions in the Top 100 in the General Category, marking them as among the highest NEET scorers.

Among these top achievers, 28 are from AESL's Classroom Program, 10 are from the Distance Learning Program (DLP), and 1 is from the Digital Program, showcasing the effectiveness of AESL's diverse educational platforms.

Notable Aakashians who secured AIR 1 are Mridul Manya Anand, Ayush Naugraiya, Akshat Pangaria, Aditya Kumar Panda, Arghyadeep Dutta, Saksham Agrawal, Sujoy Dutta, Aryan Yadav, Manav Priyadarshi, Palansha Agarwal, Dhruv Garg, Kriti Sharma, Samit Kumar Saini, Iram Quazi, Ved Sunil Kumar Shende, Tathagat Awatar, Gunmay Garg, Subhan Sengupta, Krishnamurti Pankaj Shiwal, Ved Patel and Darshan Paghdar amongst others. Their perfect scores of 720/720 highlight the rigorous training and exceptional faculty support at AESL.

Commenting on the impressive results, Mr. Deepak Mehrotra, CEO and MD of Aakash Educational Services Limited (AESL), said, "These exemplary results are a testament to the dedication and hard work of our students, unconditional support by their families, the commitment of our faculty, and the robust support system at Aakash Educational Services Limited. We are incredibly proud of all our achievers who have demonstrated excellence and perseverance. Our diverse learning programs, both in the classroom and through distance learning, have once again proven their effectiveness in preparing students for such competitive exams. We remain committed to providing quality education and helping our students achieve their highest potential."

The students attributed their stellar performance to the rigorous coaching and support provided by Aakash Institute, a leader in preparing students for one of the world's most competitive exams. The NEET Exam is critical for admission to all medical colleges in India.

NEET is conducted annually by National Testing Agency as a qualifying test for students who wish to pursue undergraduate medical (MBBS), dental (BDS) and AYUSH (BAMS, BUMS, BHMS, etc.) courses in government and private institutions in India and also, for those intending to pursue primary medical qualification abroad.

Capri Loans To Expand Its Footprint With “70 Micro-LAP Branches” Across 6 States In FY25

Capri Loans, a leading non-banking financial company, is set to expand its footprint by opening 70 Micro-Loan Against Property (LAP) branches across six states in the fiscal year 2025. This growth strategy targets regions in southern India, including Andhra Pradesh, Telangana and in northern states like Madhya Pradesh, Gujarat, Rajasthan, and Uttar Pradesh.

The company plans to onboard approximately 550 skilled professionals, to ensure effective customer service in these branches. As part of this expansion, Capri Loans recently inaugurated two new micro-LAP branches in Bhopal region. This initiative aims to provide secure, small-ticket loans against property to self-employed individuals and business owners in the region. The average ticket size for micro-LAP is 5 lakh rupees for an average tenure of 60 months.

With flexible financial solutions, loans offering for nano-enterprise would range from 2-10 lakh rupees. Digitalisation will result in less paperwork and simplified credit underwriting where the Turnaround Time on loan disbursement will be as low as seven days. Capri Loans will promote these products primarily through below-the-line marketing strategies, aimed to reach a broader audience effectively.

Mr. Khalil Mohammad (Lead – Micro LAP) at Capri Loans emphasized, "MSMEs are vital for India's economic growth and development, driving employment, manufacturing, exports and fostering innovation and entrepreneurship. At Carpi Loans, we are committed to empower MSMEs and make credit accessible to the underserved segments of society. We understand the challenges faced by businesses in the weaker section of the society. Our micro-LAP facility serves beneficial for those who don't have documented income and struggle to qualify for loans. We aim to offer flexible and tailored credit solutions to fuel their growth ambitions supporting community development".

CredAble Launches Report On “Transforming Treasury Management & Optimising Cashflows Amidst Rising Liquidity Challenges”

* The report highlights a 20% increase in the Interest Service Coverage Ratio, reflecting improved debt management strategies for listed service firms

* Insights underscore the impact of inflation nearing 6% and rising interest rates at 6.5%, urging strategic working capital management for stability

CredAble, India's leading working capital technology platform, proudly announces the release of its latest whitepaper, "The Business Value of Working Capital Financing: A Working Capital Guide for the Corporate Treasurer." The whitepaper delves into the fundamental concept of working capital, its significance within the corporate world, and the economic factors influencing working capital requirements. It addresses treasury-specific challenges and demonstrates how strategic working capital solutions can generate substantial financial value, impacting both top and bottom lines.

The whitepaper reveals key findings, such as the potential for a 6.8% increase in return on assets through efficient cash flow management. It also addresses the impact of rising inflation, projected to reach 6%, and increased interest rates, now at 6.5%, on working capital requirements – further highlighting a 20% rise in the interest service coverage ratio across listed firms, in the recent past. Additionally, the report highlights how implementing a software-based Cash Management System (CMS) can improve cash flows by 10%.

Ram Kewalramani, Co-founder & Managing Director, CredAble, said, "The effective management of working capital is crucial for businesses, especially in today's asset-light and uncertain economic environment. Our whitepaper provides corporate treasurers with the knowledge and tools they need to navigate these challenges and optimise their working capital strategies for sustained financial success.”

Key Findings from the Whitepaper:

Economic Headwinds Impacting Working Capital Requirements:

Inflationary Pressure: With inflation anticipated to rise close to 6% within the Reserve Bank of India's (RBI) tolerance band, cost-push inflation driven by rising brent crude (35% increase over three years) and coal prices (75% increase) has significantly impacted operational costs across industries.

Interest Rates: The RBI has raised the key lending rate by 2.5% over a single year, now standing at 6.5%. This escalation has increased borrowing costs for enterprises, exerting pressure on their working capital.

Debt Market Movement:

The yield spread between corporate and government bonds has narrowed over the past three years, indicating reduced market liquidity. The inclusion of Indian government bonds in the JP Morgan emerging debt index is expected to increase government bond yields further, potentially reducing liquidity in the market.

Treasury-Specific Challenges and Solutions:

Cashflow Management: Effective management of cash flow is crucial, especially in an environment where 82% of enterprises face insolvency due to prolonged monetary crunches (SBA, 2021).

Debt Administration and Risk Mitigation: The report outlines strategies to manage debt efficiently and mitigate financial risks amidst rising interest rates and economic volatility.

Value Creation through Supply Chain Finance: Companies engaging in cash flow management have experienced a higher return on assets (6.8%). The report discusses how supply chain finance can generate substantial financial value, impacting both top and bottom lines and enhancing overall financial performance.

Working Capital Optimisation Strategies: CredAble’s pioneering programs are highlighted, showcasing how automated and multifaceted working capital management initiatives can help enterprises optimise their financial resources. Real-world examples and case studies illustrate successful implementations of these strategies.

Cash Ratio Comparison: Indian firms listed on the NSE have a cash ratio of 0.29 compared to 0.64 for firms listed on the S&P 500, highlighting liquidity differences between these markets.

Effects of Short-Term Debt: From FY22 to FY23, excessive short-term debt has significantly impacted firms, leading to increased financial pressure. Implementing a software-based Cash Management System (CMS) can improve cash flows by 10%.

ISCR Improvement: A 20% rise in the Interest Service Coverage Ratio (ISCR) across listed service firms (excluding IT) and a 40% rise in ISCR across listed manufacturing firms indicate improved ability to cover interest obligations due to better working capital management.

Working Capital Days and Revenue: The white paper includes a graph from the PwC Working Capital Study 2022-2023 showing the inverse relationship between working capital days and top-line performance. Efficient working capital management can lead to better financial performance.

Commercial Paper Yields: The document highlights a consistent upward trajectory in commercial paper yields over the past two years, reflecting increased costs for short-term corporate debt. This trend is expected to continue, influenced by the performance of sovereign bonds.

As businesses move towards asset-light models, the importance of optimising working capital cannot be overstated. CredAble's whitepaper serves as a comprehensive guide for corporate treasurers, providing them with the expertise needed to manage this vital financial resource effectively.

Visa India Recognised With Great Place To Work Certification

Visa, the global leader in digital payments, has earned the prestigious Great Place to Work (GPTW) certification in India, a significant milestone for the company’s commitment to fostering a world-class workplace culture. The certification, (valid till June 2025), makes India and Singapore the first Asian markets to achieve this distinction.

With a workforce exceeding 3,500 employees in India, Visa has secured an impressive place in their very first year of certification, highlighting the company’s commitment to building a vibrant environment where employees feel valued, heard, and empowered to contribute their best.               

Sandeep Ghosh, Group Country Manager, Visa India and South Asia, said, “Our Great Place to Work certification is a testament to Visa’s values and signifies our unwavering commitment to creating a workplace where everyone, everywhere thrives. This is a collective accomplishment and we’re dedicated to continuously fostering an environment that fuels innovation, exceptional customer service, and professional growth for all”.

Visa has continuously invested in people-centric initiatives promoting inclusion, diversity, learning, operational excellence, and employee wellbeing. This consistent focus on its most valuable asset – its people – is a key driver behind the company’s success in achieving the Great Place to Work certification. This recognition serves as a springboard for Visa's continued growth in India with the workplace culture motivating the company to scale new heights, drive innovation, and deliver exceptional results.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Suzuki Motorcycle India Sales Close At 88,287 Units In June’24, Registers 9% Y-o-Y Growth

Suzuki Motorcycle India Pvt. Ltd. (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan, today announced its sales numbers for the month of June’24.

The company closed June’24 with total sales of 88,287 units as compared to 80,737 units sold in June’23, registering a growth of 9%. Its domestic sales for the month stood at 71,086 units. A growth of 13% against 63,059 units sold during the same period last year. However, its exports slightly went down from 17,678 units in June’23 to 17,201 units shipped in June’24.

Commenting on the company’s sales performance, Mr. Devashish Handa - Executive Vice President, Sales, Marketing and After Sales, Suzuki Motorcycle India Pvt. Ltd. said, “We are pleased with our sales growth in June 2024 driven by strong demand especially in the Indian market. We have got off to a good start in this financial year, with a healthy 15% year-on-year growth in our sales in the first quarter. We are optimistic about maintaining this growth momentum in the months ahead. We extend our heartfelt thanks to our valued customers and dedicated dealer network for their continued trust and unwavering support which has played a pivotal role in achieving this result.”

ABOUT SUZUKI MOTORCYCLE INDIA PVT LTD (SMIPL)

Suzuki Motorcycle India Private Limited (SMIPL), a subsidiary of Suzuki Motor Corporation, Japan, started its India operations in February 2006 from its manufacturing plant at Kherki Daula, Gurugram, Haryana, having an annual production capacity of 1 million unit. The company manufactures scooters (125cc), premium motorcycles (150cc and above) and the Big-Bikes best suited for valuable Indian customers.

BMW Group India Attains Highest-Ever Half-Yearly Car Sales

Highlights

* Strong Leadership in Luxury Electric Mobility Segment.

* Milestone in E-Mobility: First Luxury Manufacturer to Cross 2,000 Electric Units. BMW iX is Largest Selling Luxury Electric Car in India.

* BMW Luxury Class Surges Ahead (BMW 7 Series, BMW i7, BMW X7, BMW XM).

BMW Group India has posted a strong performance in the first half of 2024 (January – June). BMW Group India delivered 7,098 cars (BMW and MINI) and 3,614 motorcycles (BMW Motorrad). BMW sold 6,734 units and MINI 364 units.

BMW Group India experienced a +21% increase in car sales (BMW + MINI) in the first half of the year, fuelled by high demand for its sports activity vehicles, luxury class and electric cars.

Mr. Vikram Pawah, President, BMW Group India said, “In 2024, BMW Group India is making great strides in implementing its strategy by achieving new heights in business performance and customer delight. We have accomplished the highest ever half-yearly car sales and continuously maintained leadership in luxury electric car segment. The strong affinity for our vehicles is driven by our competitive edge in exclusive mobility paired with unmistakable driving pleasure and best-in-class innovations.” 

BMW Group Electric Vehicles (EV)

BMW Group India electric vehicles have once again emerged as the top choice of luxury consumers when it comes to sustainable mobility. 397 units of fully electric BMW and MINI cars were sold in the first six months. BMW i7 was the largest selling BMW EV in H1, reflecting the rising attraction of sustainable mobility in high-end circle.

BMW Group India is the first luxury car manufacturer in the country to cross the milestone of over 2,000 EV deliveries till date. BMW iX is the most popular luxury EV in India with over 1,000 units sold till date. Possessing the most elaborate EV range in the luxury market with great product substance is a key factor in meeting diverse consumer preferences. BMW Group India now offers six EVs in India - BMW i7, BMW iX, BMW i5, BMW i4, BMW iX1 and MINI SE. In July, this range will expand further with launch of MINI Countryman E and BMW CE 04, the first electric two-wheeler by BMW Motorrad India.

BMW Luxury Class (BMW 7 Series, BMW i7, BMW X7 and BMW XM)

BMW Luxury Class vehicles registered impressive growth of +17%, contributing 18% to total sales. The BMW X7 was the highest-selling Luxury Class model.

BMW Sports Activity Vehicles (SAV) contributed 54% to sales, posting a solid growth of +24%.

BMW X1 was the most popular SAV with around 19% share in sales.

BMW 3 Series was once again the highest selling BMW sedan with a 17% share.

BMW and MINI 360°

Customers enjoy great value proposition and complete peace of mind with the 360? finance product from BMW India Financial Services which offers attractive low monthly instalments, assured buy-back, flexible end of term options and an opportunity to upgrade to a new car amongst other benefits. 7 out of 10 cars financed by BMW India Financial Services are through BMW and MINI 360?.

BMW Group India

With BMW, MINI and Motorrad, the BMW Group has its sight set firmly on the premium sector of the Indian automobile market. Along with cars and motorcycles, BMW Group's activities in India comprise of financial services for its premium clientele. BMW India and BMW India Financial Services are 100% subsidiaries of the BMW Group and are headquartered in Gurgaon (National Capital Region).

BMW India started operations in 2007. The wide range of its activities include a manufacturing plant in Chennai, a parts warehouse in Pune, a training centre in Gurgaon NCR and development of a dealer organisation across major metropolitan centres of the country.

MINI has successfully established itself as a premium small car brand in India since its launch in January 2012. BMW Motorrad officially started its operations as a part of the Indian subsidiary of BMW Group in April 2017.

With BMW, MINI and BMW Motorrad, BMW Group India currently has over 80 touchpoints across the country setting high benchmarks in service quality and customer service. BMW Group India has introduced the innovative RetailNext concept for its dealer network. RetailNext is a holistic and progressive approach focused on customer-centricity, flexibility, sustainability, and best-in-class premium experience. Based on new design, it is focused on new processes, digital tools and roles that seamlessly provide a phygital (physical and digital) experience.

BMW India Financial Services, a Non-Banking Finance Company (NBFC), started operations in 2010. It operates with three business lines: Retail Finance, Commercial Finance and Insurance Solutions (as corporate agents). The services offered through BMW India Financial Services are significantly valuable to the premium clientele who require exclusive and flexible financial solutions.

TVS Mobility Group’s Subsidiary SI Air Springs Announces Acquisition Of Roberto Nuti Group

* The historic Bologna-based group will now operate on a more international scale, benefiting from the market and product leadership of TVS Mobility.

SI Air Springs, a subsidiary of the USD 3 Bn group TVS Mobility, announced the acquisition of Roberto Nuti Group, a Bolognese group having a multinational presence that manufactures and markets suspension systems mainly for heavy vehicles in the aftermarket. SI Air Springs is a pioneer and market leader in India in the field of air spring solutions for the automotive and rail sector.

TVS Mobility has a well rooted presence in Europe with some of the other businesses that are part of the group such as TVS Supply Chain Solutions (Europe operations headquartered in the UK with operating subsidiaries in Italy, Germany, Spain among other countries) and TVS Srichakra Ltd (Italian Branch based in Milan operating the tyre business with Eurogrip branded products).

The collaboration is expected to create significant synergies for both TVS Mobility group companies and Roberto Nuti Group, broadening Roberto Nuti Group’s product range and strengthening its position in the global market.

The General Manager of the Nuti Group, Luca Randighieri, said: "We are honoured to be part of TVS Mobility, a prestigious group in this category with decades of experience. We are excited about the international growth potential this agreement brings us and we are confident that joining forces with SI Air Springs will allow us to take advantage of their capabilities. Both companies will continue to operate normally during the integration period, and we are committed to ensuring a smooth transition for all our stakeholders.”

"We are thrilled to welcome the Roberto Nuti Group into the TVS Mobility family. This acquisition marks a significant step in our global expansion strategy, allowing us to combine our distinctive skills in Air Spring business with the Nuti Group’s renowned suspension systems expertise," said Mr. P. Srinivasavaradhan, Director of SI Air Springs.

The transaction was completed on 28th June 2024. The agreement includes the 100% purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly owned Indian subsidiary, namely, SI Air Springs Private Limited and investments appropriate to the full relaunch of the company.