PNB Has Asked Its Customers To Update Their "Know Your Customer (KYC) By August 12 To Ensure Smooth Functioning Of Their Accounts

In adherence to the Reserve Bank of India (RBI) guidelines, the Punjab National Bank (PNB), nation’s leading public sector bank, has asked its customers to update their Know Your Customer (KYC) by 12.08.2024 to ensure smooth functioning of their accounts. This is applicable only for those customers whose accounts were due for KYC updation as of 31.03.2024.

As part of the KYC compliance exercise, PNB customers are requested to provide their updated information like identity proof, address proof, recent photo, PAN, income proof, mobile number (if not available) or any other KYC information to their base branch. It can be done through PNB ONE App/Internet Banking Services (IBS)/registered e-mail/post or in person visit to any branch by 12.08.2024. Failure to update KYC details within the stipulated time may result in restrictions on account operations.

For any assistance, customer can visit their nearest PNB branch or check the official website https://www.pnbindia.in/

Honda Cars India Announces "Honda Freedom Fest" With Exclusive Benefits On Honda Cars

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, has announced the “Honda Freedom Fest”, a promotional campaign offering attractive benefits on purchase of its premium range of cars.

Customers taking delivery of their cars as part of this campaign can avail an exclusive 3-year Free Maintenance Package* along with other attractive benefits in form of Cash discounts, Loyalty, Exchange, and Corporate offer on its product range. The 3-year Maintenance Package is designed to allow customers to have an enjoyable ownership experience without worrying about car’s maintenance.

Commenting on the promotion campaign, Mr. Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd. said, “At Honda Cars, we are committed to providing a premium ownership experience and exceptional value to our customers. The 3-Year Maintenance Package offered to our customers reflects our commitment to that goal ensuring a stress-free drive for all. I encourage customers to take advantage of these attractive offers at any of our dealerships."

The promotional scheme is offered# on Honda Amaze, Honda City, Honda City e:HEV and Honda Elevate and is available at all authorized Honda dealerships across the country.

Chief Minister Siddaramaiah Inaugurates "13th Edition Of Bengaluru INDIA NANO" At Lalit Ashok, Bengaluru

Highlight of the Summit:

13th edition of Bengaluru India Nano with the focal theme ‘Nanotechnology for Sustainability: Climate, Energy and Healthcare began today

The 3-Day event will attract 75+ Speakers in 35+ Sessions, 700+ Delegates, 6 GIA Partner Countries, 50+ Exhibitors, 200+ Posters, 3500+ Attendees

The 13th edition Bengaluru India Nano event includes an informative Tutorials, knowledge-driven Conference, walkway of discovery- Poster Session, Exhibition of cutting-edge nanotech solutions, Nano Excellence Awards, NanoSparX Startup Pitching and Nanotech Quiz.

Sessions by Global Innovation Alliance (GIA) Partners from USA, Germany, Netherlands

Bengaluru, 2nd Aug 2024 : The 13th edition of Bengaluru India Nano, organized by the Department of Science & Technology, Government of Karnataka, Karnataka Science & Technology Promotion Society (KSTePS), and Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), was inaugurated by Shri Siddaramaiah, Hon’ble Chief Minister of Karnataka and in the esteemed presence of Shri D.K. Shivakumar, Hon’ble Deputy Chief Minister of Karnataka. This year's theme, ‘Nanotechnology for Sustainability: Climate, Energy, and Healthcare, set the stage for a diverse array of participants, including researchers, scientists, academicians, industry leaders, policymakers, entrepreneurs, and students.

A highlight of the inaugural ceremony was the felicitation of Bharat Ratna Prof. C.N.R. Rao, FRS, Honorary Chairman of VGNT and Linus Pauling Research Professor, and Honorary President of JNCASR, Bengaluru, in gratitude of his enduring contribution advancing science and celebrating his 90th birthday year. Prof. Rao has been the driving force behind this event. The distinguished gathering also included Shri N.S. Boseraju, Hon’ble Minister of Science & Technology and Minor Irrigation, Govt. of Karnataka; Dr. Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Ltd; Chairperson, VGBt, Govt. of Karnataka; Shri Rizwan Arshad, Hon’ble Member of the Legislative Assembly- Shivajinagar Assembly Constituency, Karnataka;  Prof. Navakanta Bhat, Chair, Vision Group on Nanotechnology, Govt. of Karnataka, Dean, Division of Interdisciplinary Sciences, Professor, CeNSE, IISc, Bengaluru; Prof. Anil Kumar P.S., Chair, Conference Executive Committee, Dean, Administration & Finance & Professor, Dept. of Physics, Indian Institute of Science, Bengaluru; Dr. Ekroop Caur, IAS, Secretary to the Government, Dept. of Electronics, IT, Bt, and S&T, Govt. of Karnataka, Shri Pavan Kumar Malapati, IAS, Director, Dept. of Science & Technology, Managing Director, Karnataka Science and Technology Promotion Society (KSTePS), Bengaluru and Shri Jagdish Patankar, Executive Chairman of MM Activ Sci-Tech Communications and the Event Curator of Bengaluru India Nano.

Shri Siddaramaiah, Hon’ble Chief Minister of Karnataka expressed in his inaugural address, "I urge our scientists and engineers to innovate solutions in nanotechnology for critical areas such as food and energy security, water purification, healthcare, and waste management. Addressing the challenges posed by urbanization and environmental hazards requires robust international collaboration and a strong link between academia, industry, and research to advance this promising technology for the benefit of humanity."

Shri N.S. Boseraju, Hon’ble Minister of Science & Technology and Minor Irrigation, Govt. of Karnataka in his special address said, “This prestigious nanotech event in the country serves as a platform for networking and exchange knowledge on the new frontiers of science and technology. The nanotechnology sector has a crucial role in making the world more sustainable. Beyond climate, energy, and healthcare, two other significant global challenges are food and water security. We hope to focus on these challenges in the next edition of Bengaluru India Nano. Our government, led by the Hon'ble Chief Minister Shri Siddaramaiah and DCM Shri D.K. Shivakumar, is making all-out efforts to develop Karnataka as a major player in the Nanotechnology sector. We will provide all the necessary support for growth of this sunrise industry in the state.”

The 3-day conference program included a one-day pre-conference tutorial followed by two days of a multitrack conference. The pre-conference tutorials held on Day 1 offered in-depth knowledge and hands-on experience in various aspects of nanotechnology, catering to both beginners and seasoned professionals. Topics covered included Nano Fabrication, Nano Characterization, and Nano Biology.

On Day 2, the opening plenary featured Prof. Pulickel Ajayan, Chair of the Department of Materials Science and NanoEngineering at Rice University, USA, who explored the transformative impact of nano-engineered materials on technology. Prof. Arindam Ghosh from the Indian Institute of Science, Bengaluru, who is also the recipient of Prof. C.N.R. Rao Bengaluru INDIA NANO Science Award, delivered a compelling and insightful plenary talk.

The "Nano for the Young" lecture, an initiative by Bharat Ratna Prof. C.N.R. Rao, FRS, aimed at inspiring nanotechnology students, was led by Prof. Ashok K Ganguli, Director & Professor of Chemical Science at IISER Berhampur, and Dr. B L V Prasad, Director of the Centre for Nano and Soft Matter Research, India.

The Conference focused on key topics like ‘Nano in Climate’, presented by Dr. Rajeevan Madhavan Nair, Former Secretary of the Ministry of Earth Science and Vice Chancellor of Atria University; Prof. Vinayak Sinha, IISER Mohali and Dr. Christian George, Deputy Director at IRCELYON, France; ‘Nano in Healthcare’ presented by Prof. Dhirendra Katti, Director of IIT Goa; Dr. Jiban Jyoti Panda, Associate Professor, Institute of Nano Science and Technology, Mohali and Prof. Biman B. Mandal, IIT Guwahati; ‘Nano in  Energy’ presented by Prof. Nitash Balsara, The Charles W. Tobias Professor in Electrochemistry, University of California, Berkeley, USA, Prof. R Kothandaraman, Professor, IIT Madras, India; Dr. K. Ramesha, Director of CSIR-Central Electrochemical Research Institute; and Prof. Kanishka Biswas, JNCSAR, India.

The Global Innovation Alliance Partner Countries of Karnataka, including USA, Netherlands and Germany also conducted sessions in the Conference.

The Poster Showcase, a highlight of Bengaluru India Nano, was a vibrant walkway of discovery featuring innovative research from over 200 bright young researchers across academic and research institutions like various IITs, BITS Pilani, University of Mysore, SASTRA Deemed University, CSIR National Physical Laboratory, IISER, JNCASR, IISc- Bangalore, JAIN University, NIT Rourkela, REVA University, Bangalore University, Institute of Chemical Technology- Mumbai, TamilNadu Agriculture University- Coimbatore, Vellore Institute of Technology, Indian Institute of Space Science & Technology to name a few.

The Exhibition inaugurated today showcased the latest innovations, products, and technologies in nanotechnology. With over 50 leading companies, research institutions, and startups presenting their cutting-edge nanotech products and services, it was a brilliant display of scientific and industry advancements.

The glittering Awards Ceremony featured the presentation of prestigious honors, including the Bengaluru INDIA NANO Innovation Award, Karnataka DST Nanoscience Fellowships and Exhibitor Awards.

Following an action-packed Day 2 filled with groundbreaking discussions and presentations, Day 3 of Bengaluru India Nano is set to deliver even more valuable insights. Attendees can look forward to engaging lectures on critical topics such as Nano in Climate, Healthcare, and Semiconductors as well as NanoSparX, an exciting programme for Nano-Entrepreneurs. Stay tuned for more updates and highlights from this dynamic event.

Photo Captions: Shri D. K. Shivakumar, Deputy Chief Minister of Karnataka; Dr. Ekroop Caur, IAS, Secretary to Government, Dept of E, IT, Bt and Science & Technology, Govt. of Karnataka; Prof. Navakanta Bhat, Chair, VGNT, Govt. of Karnataka, Dean, Division of Interdisciplinary Sciences, Professor, CeNSE, IISC, Bengaluru inaugurated the Exhibition Centre at 13th Bengaluru INDIA NANO 2024.

Dr. Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Ltd.; Chairperson Vision Group on Biotechnology, GoK speaking at the Inaugural ceremony of Bengaluru INDIA NANO 2024.

Toyota Kirloskar Motor Reopens Booking For Innova Hycross ZX & ZX (O) Grades

Toyota Kirloskar Motor (TKM) announced the re-opening of bookings for the Innova Hycross ZX & ZX (O) models, effective 1st August 2024. Since its launch (Nov 2022), the Innova Hycross has received overwhelming customer response, appreciated for its proportions & poise of an SUV with the spaciousness of an MPV. The versatile Innova Hycross, available in both self-charging strong hybrid electric variant [SHEV] as well as gasoline variant, is celebrated for its glamor quotient, advanced technology, comfort, safety features and a thrill to drive.

Owing to high demand situation, the bookings for the top end grades were put on hold temporarily. During this period, bookings for other grades of the Innova Hycross, both hybrid and gasoline, continued unabated. With the streamlining and enhanced supply, the waiting period has been reduced & the bookings of Innova Hycross top end grades has commenced.

Commenting on the announcement, Mr. Sabari Manohar – Vice President, Sales-Service-Used Car Business - Toyota Kirloskar Motor, said, “We are thrilled to announce the re-opening of booking for top-end grades of the Innova Hycross, ZX and ZX (O), effective August 1st, 2024. This reflects our commitment to provide access to our varied product choices to cater to the customer desires. The Innova Hycross has become a highly sought-after model, appreciated for its unmatched comfort and convenience. With its advanced technology, strong hybrid electric system, and robust design, the Innova Hycross has set new benchmarks in the market. We are truly humbled by the strong acceptance and confidence entrusted by our customers on this product.

We deeply appreciate the patience of our valued customers during the temporary halt period and regret any inconvenience. We are confident that the re-opening of the bookings of the Innova Hycross top-end grades will further enrich our customers' driving experiences and fulfil their mobility aspirations.”

Based on Toyota New Global Architecture (TNGA), the Innova Hycross celebrates Toyota’s globally recognized Quality, Durability and Reliability and reflects the brand legacy. It is powered by a 5th Generation Self-Charging Strong Hybrid Electric System, featuring a TNGA 2.0-litre 4-cylinder gasoline engine and a monocoque frame with an e-drive sequential shift, delivering a maximum power output of 137 kW (186 PS). This provides rapid acceleration and best-in-segment fuel economy that makes the Innova HyCross a wise choice for a greener tomorrow.

Designed for family needs, the feature-laden Innova Hycross is a vehicle for every occasion, offering glamor, toughness, comfort, safety, and advanced technology. Drawing inspiration from Toyota’s rich global SUV heritage, the Innova Hycross boasts a muscular and tough design with ample space, providing flexible and comfortable seating for all. This versatile vehicle is perfect for families wanting a car that can handle rough roads while delivering a seamless, fatigue-free drive.

We are doing our best to ensure a seamless booking experience and timely delivery. Customers can make their bookings online on www.toyotabharat.com or also visit their nearest Toyota dealership. 

Dynatrace Celebrates Five Year IPO Anniversary

* Milestone Commemorates Sustained Growth And Market Leadership In End-To-End Observability And Security

Dynatrace (NYSE: DT), the leader in end-to-end observability and security, proudly marks the fifth anniversary of its initial public offering on the New York Stock Exchange. Since its IPO, Dynatrace has consistently demonstrated innovation and growth, solidifying its position as a pivotal force in helping the world’s largest organizations deliver flawless and secure digital interactions.

Dynatrace’s achievements over the past five years include:

·       Elite Class of SaaS Companies: Became one of only 8% of public software companies in North America and Europe to exceed $1 billion in annual revenue.

·       Customer Success: Empowered over 4,000 organizations with end-to-end observability capabilities.

·       Durable Growth and Cash Flow Generation: Achieved a 28% compound annual revenue growth rate, with cumulative revenue of nearly $5 billion and more than $1 billion in cumulative operating cash flow over the past five fiscal years ended March 31, 2024.

·       Stock Performance: Generated a return of nearly 180% since the IPO, more than 3x the average return of our 2019 IPO cohort.

“We are immensely proud of our journey over the past five years, and we celebrate all customers, partners, and Dynatracers who have contributed to our success,” said Rick McConnell, Dynatrace CEO. “Over this period, Dynatrace has undergone a remarkable transformation, evolving from a carve-out to a leading public software company, all while remaining relentlessly focused on innovation and customer success. Now more than ever, software is expected to work perfectly, and this motivates us to continue delivering the unparalleled value to our customers that has helped us reach this milestone.”

“Since our IPO in 2019, we’ve transformed into an industry leader in end-to-end observability and security, driven by our dedication to helping our customers anticipate and navigate change,” said Bernd Greifeneder, Dynatrace CTO and Founder. “Today, our customers are confronted with new challenges, as they look to ensure flawless and secure software delivery while attempting to extract meaningful insights from unprecedented volumes of data. We are committed to delivering a platform differentiated by causal, generative, and predictive AI-powered observability, analytics, and automation to help our customers thrive in this new wave of change.”

About Dynatrace

Dynatrace (NYSE: DT) exists to make the world’s software work perfectly. Our end-to-end platform combines broad and deep observability and continuous runtime application security with Davis® hypermodal AI to provide answers and intelligent automation from data at an enormous scale. This enables innovators to modernize and automate cloud operations, deliver software faster and more securely, and ensure flawless digital experiences. That’s why the world’s largest organizations trust the Dynatrace® platform to accelerate digital transformation.

Curious to see how you can simplify your cloud and maximize the impact of your digital teams? Let us show you. Sign up for a 15-day Dynatrace trial.

To learn more about how Dynatrace can help your business, visit www.dynatrace.com, visit our blog and follow us on Twitter @dynatrace.

Black Box Limited Secures Rs. 410 Crores In Funding To Drive Growth And Expansion In Digital Infrastructure Sector

Black Box Limited (BSE: 500463/NSE: BBOX), a premier trusted global digital infrastructure solution integrator delivering cutting-edge technology solutions and worldclass consulting services to businesses around the globe, announced that it has received commitment for raising of funds aggregating to Rs. 410 crores via preferential issue aimed at accelerating growth and expansion in digital infrastructure sector.

The Board of Directors, in its meeting held today, approved the issuance in one or more tranches, 98,32,123 fully convertible warrants, at a price of Rs. 417/- (Rupees Four Hundred and Seventeen Only) per warrant, aggregating to Rs. 410 crores (Rupees Four Hundred and Ten Crores Only) and each Warrants is convertible into 1 (One) equity share of face value of Rs. 2/- (Rupees Two Only) each fully paid-up (“Equity Share”) of the Company at a premium of Rs. 415/- (Rupees Four Hundred and Fifteen Only) at the option of Proposed Allottee, in one or more tranches, at any time within 18 (Eighteen) months from the date of allotment of the Warrants in accordance with relevant provisions of SEBI ICDR Regulations.

The funding round has garnered Rs. 200 crores from the existing promoters of the company, which shows the continued confidence on the business and its growth plans, Rs. 200 crores from the consortium of marquee investors comprises of foreign institutional investors & high-net-worth individuals and Rs. 10 crores by key management personnel of the company. After the conversion of warrants into equity, promoter shareholding will be marginally lower from existing 71.1% to 69.8%. Black Box continues to be Essar’s key investment in the technology space.

Over the last couple of years, the company has focused on improving margins by taking several cost rationalisation initiatives and emphasis on enhancing the productivity. This has yielded positive outcomes leading to an increase in our EBITDA margins and Profit after Tax (PAT). We had achieved EBITDA of Rs. 428 crores in FY24, growth of 59% on FY23 EBITDA and PAT of Rs. 138 crores in FY24 which is 5.8x on FY23 PAT. We expect continued growth momentum on EBITDA and PAT in current financial year too.

The fund raise capital is a growth capital for the Company and will be invested across several key areas:

*  Expansion of Data Centre Build Capabilities: Data Centre capacity is expected to grow exponentially over the next 3-5 years fuelled by adoption of Cloud and AI. Black Box has strong presence in this segment and would invest in the value chain to be a dominant player providing expanded services to Hyperscalers, Multi-Tenant Data Centre operators and Large Enterprise Data Centre.

*  Advancement in Network Infrastructure: Black Box will deploy capital to expand its Solutions portfolio for its enterprise customers and Data Centre operators including Hyperscalers in the areas of Connectivity Infrastructure and Networking that will be critical to support increasing data traffic and demands of better user experience at the edge.

*  Innovation and Delivery: A portion of the funds will be allocated to innovation and development efforts aimed at pioneering new digital infrastructure solutions, including advancements in cloud computing infrastructure, cybersecurity, artificial intelligence and IoT.

* Go To Market Expansion: The investment will support the company’s strategic expansion and growth initiatives into key Industry Verticals with relevant technology solutions with key leadership hiring and expanding its sales and business development efforts significantly both in north America and emerging markets.

Mr. Sanjeev Verma, Chief Executive Officer of Black Box Limited stated, “We are thrilled to have secured this capital, which will enable us to embark on an ambitious growth trajectory and enhance our digital infrastructure offerings and drive innovation in a rapidly evolving market.”

Mr. Deepak Bansal, Chief Financial Officer of Black Box Limited stated, “thankful to the existing investors for continued confidence and welcoming new investors as we embark on next phase of growth and profitability. The company remains committed to invest in the areas of growth and maintain sharp focus on operational efficiency and return on capital.”

About Black Box Limited:

Black Box Limited is global digital infrastructure integrator delivering network and system integration services and solutions, support services and technology products to businesses in the United States, Europe, India, Asia Pacific, Middle East, Latin America and has around 4,000 professionals globally. Black Box has strong service offerings in the areas of network integration, digital connectivity infrastructure, data centre build out, modern workplace and cybersecurity for businesses across various industries including financial services, technology, healthcare, retail, public services like airports etc., manufacturing and other sectors.  

Zomato Fires On All Cylinders During Q1, 2024

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BUY

August 2, 2024

TARGET PRICE (Rs) : 270

Zomato once again churned out impressive results, with all segments registering healthy growth. Food delivery GOV growth remained robust at 27% YoY, and Blinkit continued tracking its sturdy growth path with GOV up 130% YoY to Rs49.2bn. For Food Delivery, the management sees GOV growth sustaining at >20% in the near term, slightly lower than that in the last couple of quarters. Blinkit’s stellar growth is complemented by continued improvements in profitability, where it sustained adjusted EBITDA breakeven despite investing in new stores. The mgmt now targets a store-count of 2,000 for Blinkit by 2026, as it continues its expansion spree for seizing market opportunities. Zomato has also announced its intention of building a one-stop destination app for ‘going-out’ called District and sees this as its third-largest B2C business. We revise our FY25-27 EPS estimates by -2% to 4%, factoring in the Q1 performance and the aggressive store expansion plans for Blinkit. We maintain BUY on Zomato, raising Jun-26E TP to Rs270/sh on SOTP basis.

Results Summary

Zomato reported revenue growth of 18.1% QoQ to Rs42.1bn, well ahead of our estimate of Rs38.1bn. All segments saw sequential growth, with Food Delivery/Hyperpure/Quick Commerce/Going Out growing 11.7%/27.4%/22.5%/2.2%, respectively. Food Delivery (FD) GOV grew 10% QoQ/27% YoY to Rs92.6bn. Average MTU in FD grew 6.8% QoQ to 20.3mn. Blinkit GOV grew 22.2% QoQ to Rs49.2bn, with adj. EBITDA sustaining the at breakeven levels. Overall adjusted revenue grew 16.7% QoQ to Rs45.2bn. Contribution margin for FD declined by 20bps QoQ to 7.3%. Blinkit’s contribution margin inched up by 10bps QoQ to 4%. Food Delivery adj. EBITDAM as a % of GOV improved to 3.4% (from 3.3% in Q4), while Blinkit’s adjusted EBITDAM improved to -0.1% (from -0.9% in Q4). Overall adjusted EBITDAM (as a % of adjusted revenue) improved, from 5% in Q4FY24 to 6.6% in Q1FY25. What we liked: Broad-based healthy growth across segments. What we did not like: Softness in FD contribution margin.

Earnings Call KTAs

i) During FY20-24, FD GOV CAGR was 30%. Given the expected structural demand growth and robust supply-side dynamics, the management expects a similar CAGR over the next 5 years, given that it executes well on all three marketplace fronts—customer base, restaurant partners and delivery partners. ii) FD contribution margin (as a % of GOV) declined by 20bps QoQ to 7.3%, and the company expects the volatility to continue, driven by seasonality. However, the mgmt. remains on track to achieve 4-5% adj. EBITDAM. iii) Competitive intensity in the QC business has been high, with some players spending more on marketing and subsidies. But this does not seem to affect Blinkit's performance, given the >20% GOV growth without the need to match the spends and subsidies. iv) It sees a line of sight towards logging a ~2k store-count by 2026-end at least (1k stores by FY25-end), while remaining profitable. Most of these stores would be in the top-10 cities. v) Average GOV throughput per store has grown, from ~Rs0.6mn/day in Q1FY24 to ~Rs1mn/day in Q1FY25. For the top-50 stores, avg GOV throughput is ~Rs1.8mn/day, which is still growing. The mgmt. believes that most stores are underutilized from a capacity standpoint, and hence GOV/day/store should continue increasing even after aggressive store additions. vi) Capex grew ~73% QoQ to Rs1.4bn, primarily due to addition of dark stores and a few Hyperpure warehouses. vii) The mgmt. reiterated that despite the expected increase in both, the ESOP charge and the cash employee expense, it expects total employee cost (as a % of adj. revenue) to continue trending downward in FY25 and beyond.