3i Infotech Appoints Mr. Raj Ahuja As The New CEO

3i Infotech Limited (BSE: 532628) (NSE: 3IINFOLTD), a leading global IT company dedicated to delivering excellence, announced the appointment of Mr. Raj Ahuja to act as the Chief Executive Officer (CEO) with immediate effect.

Under his leadership, Mr. Ahuja will lead and oversee the company’s strategic, financial, and operational performance, globally. His strategic vision and dedication to create operational efficiency by empowering teams through control and process-based environment, aligns perfectly with the company's mission and long-term goals. His expertise lies in effectively managing business strategy, creating execution capabilities, managing large teams, analytics-based decision making and problem solving, operations, mergers, financial structuring and fundraising.

Mr Ahuja brings more than three decades of leadership experience across industries including IT, Bio-Med, Consumer Electronics, Media, FMCG, FinTech, Education, NBFC, Banking and Financial Services. He has held senior leadership roles at organizations like Yes Bank, Jio Financial Services, Ampersand, Capri Global, Star India, Philips, PayTM, and Wipro, with a proven track record of driving innovation, fostering growth, and championing operational excellence.

Speaking about his new role, Mr. Raj Ahuja, Chief Executive Officer, 3i Infotech said, “My vision is to steer 3i Infotech towards becoming a global leader, defined by our unwavering commitment to excellence, innovation, and a culture of growth. Together, we will build a company that inspires, empowers, and leads the way in shaping the future.”

Mr Ahuja is a Rank Holder Chartered Accountant (ICAI) and Cost Accountant (ICWAI) with a bachelor’s degree in commerce from SRCC, University of Delhi.

About 3i Infotech 

3i Infotech Limited, incorporated in 1993 and headquartered in Mumbai, India, provides information technology services and software solutions. With 30+ years of experience, the company has emerged as a leading name in propelling the current wave of digital transformation initiatives across BFSI, Healthcare, Manufacturing, Retail, and Government sectors. Operating through three key segments, Enterprise Services, Professional Services, and Digital Business Services, 3i Infotech has over 5000+ employees and 500+ clients worldwide.

Website: https://www.3i-infotech.com/   

Ongo Unveils Catchy New Brand Song Embracing A New Era In Digital Payments

* Acclaimed Bollywood playback singer ‘Hamsika Iyer’ lends her melodious voice to Ongo’s new brand song

Ongo, the digital payments platform of AGS Transact Technologies (BSE: 543451 & NSE: AGSTRA), today unveiled a vibrant new brand song that will serve as the company's primary caller tune. The ‘Hinglish’ melody reaffirms the shift in AGS Transact’s strategy to focus on expanding its digital payments business, as it bids farewell to AGS' iconic brand song that has resonated with customers for over a decade.

Ongo’s new brand song, sung by the acclaimed Bollywood playback singer Hamsika Iyer known for her Bollywood hit 'Chammak Challo,' embodies the distinctive and bold brand identity of Ongo. It seamlessly reflects Ongo's modern and universal elements while underscoring the brand's customer-centric approach.

Commenting on the launch, Vinayak Goyal, Managing Director, India Transact Services Limited (Ongo), the wholly owned digital payment subsidiary of AGS Transact Technologies Limited said, “We are constantly striving to enhance the way people engage with digital payments, and the new brand song of Ongo symbolises a fresh chapter in our brand's evolution. The decision to adopt it as the company's signature caller tune emphasises Ongo's focus on creating a distinctive identity within the digital payments landscape, for consumers, SMEs and corporate segments alike.”

“By transitioning to a modern, upbeat tune, we at Ongo seek to connect with a wider audience including the young, digitally savvy and those always on-the-go. Additionally, Hamsika’s melodious voice brings a magical blend of modern and traditional notes to the song, making it truly special,” he further added.

Hamsika Iyer, the popular Bollywood playback singer, commented on the collaboration with Ongo, "It has been a pleasure to work with AGSTTL and Ongo in bringing their vision to life. The brand song’s music captures the vibrant energy and enthusiasm of new age audiences, and I am confident it that it will resonate instantly with the listeners.”

Shishir Kulkarni, Deux Productions, the production house behind the song, added, “Our goal was to compose a groovy yet earthy tune that brings alive the essence of Ongo’s bold brand persona, while maintaining a connection with the legacy of AGS Transact Technologies. The melody that we’ve created reflects Ongo’s bold identity and yet has a timeless quality which will be a memorable and immersive experience for listeners.”

Ongo has announced various end-consumer centric partnerships over the past months, such as the instant NCMC ‘Ongo Ride’ at Chennai Metro, cobranded open-loop prepaid cards with Patanjali Ayurved, an open-loop fuelling solution with Voice-control feature on its mobile app and ATM Cash withdrawal facility on its PPI platform.

Ongo’s new brand song is available across popular music and social media platforms, including Spotify, iTunes, YouTube Music, Instagram, Snapchat, among others. The Ongo app can be downloaded from iOS and Google Play Store. Click here to listen to the new Ongo brand song.

About Ongo

Ongo is a fast-growing omnichannel digital payment platform in India that caters to corporates, merchants, and consumers, offering convenient payment solutions. Launched in 2015 by AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), Ongo offers merchant Acquiring and Prepaid Issuance services. Ongo is a non-bank prepaid payment instrument and offers dedicated open-loop Prepaid solutions for consumers. Its merchant acquiring business includes an all-in-one POS platform for accepting digital payments via various form factors including Bharat QR, UPI, RFID, and debit/credit/prepaid cards, and various tailor-made applications. AGSTTL has pioneered Integrated Payment Solutions (IPS) with OMCs on Ongo POS, for streamlining payments at fuel retail outlets. As of June 30, 2024, the company has deployed 2,48,834 payment terminals and was one of the largest deployers of PoS terminals at petroleum retail outlets in India, having rolled out 41,777 terminals at various petroleum retail outlets.

To know more, visit: https://ongo.co.in/

About AGS Transact Technologies Limited (AGSTTL)

Established in 2002, AGS Transact Technologies Limited (BSE: 543451| NSE: AGSTRA) is one of the largest integrated omni-channel payment solutions providers in India in terms of providing digital and cash-based solutions to banks and corporate clients. AGS Transact provides customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets. The company operates in three broad business segments, namely, Payment Solutions; Banking Automation Solutions; and Other Automation Solutions.

AGS Transact Technologies serves diverse industries such as banking, retail, petroleum, toll and transit, cash management and fintech in India and other select countries in Asia.

MediJourn A Rising Star in Global Medical Travel 5 Years Of Connecting The world

• Expands Services to United Kingdom, Indonesia

• Adds Samitivej Hospital, Thailand & Apollo Ayurvaid to its List of Globally Renowned Hospital Partners among a Second Medical Opinion Service from Europe

MediJourn, a pioneering force in the medical value travel industry, has set ambitious growth targets to solidify its position as a global leader. By 2030, the company aims to serve 500,000 patients, expand its global footprint to 50+ countries.

With a proven track record of processing over 150,000 queries, MediJourn has rapidly emerged as one of the top 5 fastest-growing medical value travel companies worldwide. Currently, the company operates in 27+ countries through partnerships. Founded in 2019 by entrepreneurs Ishaan Dodhiwala and Shaaz Mehmood, MediJourn has achieved significant growth and profitability through its innovative approach to medical travel.

Ishaan Dodhiwala, Co-founder of MediJourn, expressed his excitement about the company's milestones: "Our commitment extends beyond borders as we strive to redefine the medical travel experience. By leveraging technology, collaborating with expert doctors at renowned hospitals, providing compassionate care, and adhering to the highest standards of excellence, we aim to revolutionize accessible healthcare worldwide."

MediJourn's success is attributed to its structured approach to the rapidly growing medical travel segment, fostering trust among customers and healthcare providers. The company's focus on enabling hassle-free access to top-notch healthcare delivery for global customers has strengthened its position as a reliable medical value travel partner.

The recent launch of full-fledged United Kingdom & Indonesian operations has expanded MediJourn's global presence, allowing for deeper market penetration and network development. Additionally, the company plans to establish 20+ clinics and referral centres by 2030.

MediJourn has already forged partnerships with renowned hospital such as Samitivej Hospitals, a leading provider in Thailand. It has also started a second medical opinion service from doctors from Europe. It is also delved into traditional medicine and partnered with Apollo Ayurvaid. These strategic alliances solidify MediJourn's position in the South Asian market, a region with significant growth potential.

MediJourn's success is driven by its customer-centric approach, innovative processes, and simplified access to healthcare. The company's streamlined medical travel experience, from initial consultation to post-treatment follow-ups, ensures patient satisfaction and loyalty. By continuously enhancing its services and expanding its network, MediJourn aims to be at the forefront of the industry in terms of patient satisfaction, healthcare quality, and global reach.

Since its inception, MediJourn has played a pivotal role in organizing the medical value travel industry in India, transforming how patients access healthcare services across borders. The company's commitment to providing a seamless, transparent, and trustworthy experience has made healthcare more accessible and efficient for thousands of patients.

MediJourn's comprehensive service model includes personalized care plans, logistical support, and direct access to leading healthcare providers, ensuring that every patient's journey is managed with the utmost care and professionalism.

The company's ongoing expansion efforts are focused on building a robust network of partnerships with hospitals and healthcare providers worldwide. By increasing its reach and capabilities, MediJourn is enhancing its ability to offer specialized and high-quality medical treatments to a broader range of patients. These strengthened relationships not only improve patient care but also solidify MediJourn's reputation as a trusted facilitator of international healthcare.

Aakash Educational Services Limited (AESL) Associates With “Kaun Banega Crorepati Season 16” As Knowledge Partner

Aakash Educational Services Limited (AESL), the national leader in test preparatory services with over 35 years of excellence, is proud to announce its association “Kaun Banega Crorepati Season 16” as the official Knowledge Partner. The much-loved reality quiz show airs every Monday to Friday at 9 PM on Sony Entertainment Television.

AESL has long been at the forefront of educational innovation, providing top tier coaching and guidance to millions of students aspiring for success in competitive exams such as NEET, JEE, and various other entrance tests. With a legacy spanning over three decades, AESL has consistently focused on nurturing academic excellence and creating opportunities for young talent to excel.

The association with KBC, a show that empowers the common man/woman by celebrating the power of knowledge and intellectual pursuit, is a natural extension of AESL's commitment to education.

Mr. Deepak Mehrotra, MD and CEO of Aakash Educational Services Limited (AESL), expressed his enthusiasm for the partnership, stating, “Our association with Kaun Banega Crorepati, a show that epitomizes the power of knowledge, is our shared vision of building a more informed and empowered society. Together, we hope to inspire the next generation to pursue their academic and career aspirations with determination and confidence."

Mr. Sandeep Mehrotra, Head—Ad Sales, Network Channels, at Sony Pictures Networks India (SPNI) added, “On Kaun Banega Crorepati, lives are transformed one question at a time, proving that knowledge is the ultimate equalizer. This insight aligns seamlessly with AESL’s mission to empower society through education.”

L&T Technology Services - Going Deeper To Scale

REDUCE

Information Technology 

Analyst Meet Update   

August 28, 2024

We attended LTTS’s Analyst Day to understand its growth strategy and business outlook. KTAs: 1) Mgmt remains cautiously optimistic on demand. Deal pipeline grew 2x YoY, but decision-making is still slow. Potential start of rate-cut with resilient macros in the US may lead to demand uptick. 2) India ER&D sourcing is expected to grow 17-22% over 2023-30. LTTS aspires to grow at 18-20% over the same period. 3) Mgmt elucidated its growth strategy ‘Go Deeper to Scale’ with focus on 5 growth vectors— scale up Mobility, Sustainability, and Tech to billion-dollar segments; grow client relationships; bag large deals; invest in technologies ahead of the curve; develop talent to drive profitable growth. 4) LTTS aspires to be one of the top-5 ER&D service providers globally and grow revenue to USD2bn over the medium term with EBITM of 17-18%. 5) Mgmt reiterated its 8-10% growth guidance for FY25, and suggested that its exit revenue run-rate aspiration of USD1.5bn hinges on M&A. We roll forward TP to Sep-25E; retain REDUCE; raise TP to Rs5,000/sh at 30x its Sep-26E EPS.

Aspiring to achieve USD2bn revenue over the medium term

LTTS has identified 5 growth vectors: a) create billion-dollar segments—Mobility, Sustainability, and Tech—with separate leadership teams, P&L responsibilities, and a distinguished set of growth strategies; b) grow client relationships – focus on the top-45 accounts and target 2 clients of >USD100mn size, 3 clients with size of USD50-100mn, and 46 clients (35 currently) in the USD10-50mn range; c) co-create value through large deals – it signed 1 deal each in the >USD100mn and USD50-100mn buckets and 2 deals in the USD25-50mn bucket in FY24; it targets scaling this up, to 2, 4, and 8 deals each year in the respective buckets over the medium term; d) invest in technologies ahead of the curve – number of patents have grown to 50 per Quarter for the last 3 years from 50 per year in FY21; e) nurture its ‘Engineer at Heart’ program for inclusive growth. Its USD1bn and 20-22% CAGR revenue aspirations with targeted EBITDA margin band of 20-22% for Mobility will be driven by software-defined mobility (with share increase to 45% from 34% in FY24), followed by Electrification & Hybrid Tech (share increase to 20% from 15%), while Vehicle Engineering will be steady (share expected to decrease to 35% from 51%). In the Sustainability segment, it expects revenue CAGR of 14-16% with EBITDA band of 28-30% to be led by Plant Modernization & Automation, Projects Engineering, Digital Platforms, and Sustainable Manufacturing. For the Tech segment, it aims for 18-20% revenue CAGR with EBITDA margin band of 16-18% to be driven by AI and Next Gen Software, Platform Engineering, Silicon & Device Engineering, Digital, and QARA, to achieve revenue aspirations of USD1bn. It is focusing on 4 geographies—North America, Europe, India, Japan. LTTS aspires to be among the top-5 global ER&D Services providers and grow revenue to USD2bn with 17-18% EBITM over the medium term.

Levers identified for margin improvement

The company aspires to reach 17-18% EBITM over the medium term and has identified margin levers like employee pyramid (to add 2,000-3,000 freshers every year), higher offshoring (potential to improve offshore mix by 300-500bps), optimizing G&A as a % of revenue, higher quality of revenue led by AI, proprietary solutions/accelerators, etc. It aspires to expand Mobility, Sustainability, and Tech segment margins to 20-22%, 28-30%, and 16-18% over the medium term from 19.6%, 28.2%, and 15.5%, resp, in FY24.

Exploring M&A opportunities to boost growth

The company plans to add a) SDV, ADAS, and Connected capabilities in Mobility; b) platform engineering, AI/ML, and data engineering capabilities in ISV; and c) connected healthcare, patient management, and health analytics capabilities in Medtech, through the M&A route. It is targeting entity with revenue run-rate of USD50-150mn in these areas.

National STEM Challenge 2024 Concludes With A Spectacular Finale In Bengaluru

* More than 2,000 Students from 20 States Push the Boundaries of Innovation and Creativity in India’s Premier, Year-Long STEM Initiative

The winners of the 2024 National STEM Challenge, a one-of-its-kind educational initiative in India, were announced today in Bengaluru at the grand finale of a national competition that showcased the incredible talent and innovation of young minds from across the country. This marked the fourth edition of the competition, organised by STEM Learning in association with Brillio, a social enterprise focused on driving STEM education among school children.

The National STEM Challenge provides a unique STEM learning platform for skill development in underserved students of government and government-aided schools across India. It is designed to foster and celebrate creativity, ingenuity, design thinking, and problem-solving skills among students from grades 6 through 10, regardless of their background.

The finale marked the culmination of year-long STEM (science, technology, engineering, mathematics) activities, including science and mathematics model competitions, technology quizzes, and engineering tinkering. The finale was attended by more than 60 students and 25 teachers from 12 states.

Over the last year, more than 2,000 students from 20 states were trained in new-age technologies by volunteers from STEM Learning. These students competed in 90 cluster and zonal, rounds. The top 27 teams from 12 states ? Maharashtra, Jharkhand, Karnataka , Delhi, Uttar Pradesh, West Bengal, Madhya Pradesh, Telangana, Rajasthan, Odisha, Punjab, and Goa ? made it to the national finale.

Esteemed Chief Guests

·         Mr. D. K. Shivakumar, Honorable Deputy Chief Minister of Karnataka

·         Mr. Madhu Bangarappa, Honorable Education Minister of Karnataka

Esteemed Guests of Honor

·         Ms. B. B. Cauvery, I.A.S., Commissioner for Public Instruction, Government of Karnataka

·         Ms. Aisshwarya DKS Hegde, Trustee-Secretary, Schools of National Education Foundation (NEF)

·         Dr. B. R. Guruprasad, Director, Jawaharlal Nehru Planetarium, Bengaluru

·         Mr. Ashutosh Pandit, CEO, STEM Learning

·         Mr. Siva Perubotla, MD and CIO, Brillio

·         Ms. Kusuma H, Social Leader

·         Mr. Abhishek Ranjan, Global Head of Sustainability, Brillio

Celebrated Mentors, Speakers, and Jury Members

The contestants were judged, and the winners felicitated by eminent personalities from the worlds of science, education, and technology. They included:

·         Mr. Ashok Pamidi, Former CEO, NASSCOM Foundation

·         Ms. Sudeepta Banerjee, Head of Resource Mobilization, Concern India Foundation

·         Ms. Kathleen Ulrich, MD and Global Head of Marketing, Brillio

·         Dr. Sarnam Singh, Senior Scientist, Former Dean, Nalanda University

·         Mr. Alexandre Besnard, Digital Admin, LP4Y

·         Dr. G. N. Dayananda, Outstanding Scientist (retired), Technology Management Directorate, Council of Scientific & Industrial Research (CSIR)

·         Ms. Anupama Ramachandra, Founder Principal, Delhi Public School Electronic City, Bengaluru

·         Mr. Vishwottam Kandikere, PhD, Assistant Vice President and Head ? DMPK, Syngene International Limited

·         Ms. Sunita Sharaf, Director, EDUscope

Speaking Mr. Ashutosh Pandit, Founder of STEM Learning, India’s biggest CSR-implementing organisation said: “We are pleased that the fourth edition of the National STEM Challenge has successfully fulfilled our objective of igniting a passion for science and technology among students from all corners of India. It is about empowering a generation to dream beyond boundaries. When we inspire curiosity, we plant the seeds of innovation. We are proud of our collaboration with Brillio in enabling students to pursue and imbibe highly sought-after STEM skills to foster individual and societal progress. Beyond this, keeping the momentum strong, we aim to reach every corner and foster scientific temperament and inquisitiveness. This has always been the founding ideology of the National STEM Challenge.”

Winners

Winners of National STEM Challenge 2024

Here’s a list of winners:

National Science & Math Model Making Awards:

1st: Deepak Kumar, (Basic School, Chota Govindpur, Jamshedpur), and Sunny Kumar, Basic School, Chota Govindpur, Jamshedpur)

2nd: Jishan Baidya (Bishnupur Sir Ramesh Institution) and SK. Farhan Uddin (Bishnupur Sir Ramesh Institution)

National Tech & Engineering Tinkering Awards:

1st: Dhrubajyothi Paik (Jadavpur Vidyapith, Kolkata) and Aditya Mondal (Jadavpur Vidyapith, Kolkata)

2nd: Maroju Harsha Vardhan Chary (ZPHS Nagol, Hyderabad) and Srikar Savanth (ZPHS Nagol, Hyderabad

National STEM Master Maker 2024 Awards:

Dhrubajyothi Paik (Jadavpur Vidyapith, Kolkata)

Jishan Baidya (Bishnupur Sir Ramesh Institution) 

National STEM Teacher’s Award:

·         Dattatray Raskar, Krantijyoti Savitribai Phule Madhyamik Vidyalaya, Naigaon (Pune).

WhatsApp’s Impact Report Highlights How The Platform Is Powering SMBs And Social Welfare Organizations In India

* The report themed ‘Fast Lane to Social Impact’ explores how WhatsApp has emerged as a digital enabler for the last mile, empowering organizations to deliver accelerated social impact.

WhatsApp today released its impact report titled ‘Fast Lane to Social Impact’ that explores the pivotal role the platform plays in the lives of Indian users, empowering small businesses to thrive in today’s digital economy and powering social welfare organizations to drive positive societal change, often being the digital enabler for the last mile.

The report curated by Redseer Strategy Consultants, delves into the multifaceted impact of the platform’s offerings—WhatsApp consumer app, WhatsApp Business App, and the WhatsApp Business Platform [API], highlighting how the platform has transformed the way people and communities interact and conduct business by facilitating seamless communication. 

Commenting on the launch of the report, Shivnath Thukral, Vice President, Public Policy, Meta India, said, “WhatsApp has emerged as a pivotal tool, revolutionizing the way individuals, businesses, and social welfare organizations communicate and operate. From supporting women entrepreneurs to providing skill development for the unemployed or even ensuring parents stay engaged with their children’s education — organizations are successfully harnessing the capabilities of the platform for driving positive social change. The success stories in the report are a testament to WhatsApp’s transformative potential and how its supporting different segments of society thrive in India’s rapidly evolving digital landscape.”

Empowering India’s MSMEs And Boosting Entrepreneurship 

WhatsApp Business App has provided micro, small businesses and solopreneurs across India a democratized gateway to discover new markets and serve their customers, along with building a professional digital identity for their business. 

WhatsApp Business has enabled small businesses to streamline operations and easily receive and fulfill orders online, helping them increase efficiency and expand their reach, including access to international markets. In turn, boosting entrepreneurship by providing local businesses and startups access to digital tools that put them on an equal footing with large enterprises.

Moreover, The Confederation of All India Traders (CAIT) and Meta’s ‘WhatsApp Se Wyapaar’ program aims to digitally train and upskill 10 million local traders on the WhatsApp Business App. The partnership will be implemented in 11 Indian languages across all 29 Indian states. 

The partnership also provides 25,000 traders access to the Meta Small Business Academy, offering certification that enhances digital marketing skills. 

Powering social welfare organizations to scale impact 

WhatsApp has enabled numerous social welfare organizations in India to deliver impactful solutions in areas such as education, healthcare, financial inclusion, and women empowerment, driving positive social change and transformation at the grassroots.   

Mann Deshi Foundation supports over 100,000 rural women entrepreneurs by providing financial literacy and access to business opportunities across markets through their WhatsApp chatbot. So far, they have digitally trained over 15,000 women, 85% of them being rural beneficiaries. 

Other use cases include NGOs leveraging the platform to scale initiatives like reducing period poverty, empowering pregnant women with comprehensive healthcare and baby care knowledge, and upskilling young professionals for better employment opportunities.

Building citizen services for efficient e-governance  

WhatsApp has supported government agencies across the country to deliver efficient and inclusive citizen services. There are several innovative and impactful use-cases ranging from complaint resolution, promoting digital health technology, driving cybersecurity awareness, delivering local utility services, offering efficient and sustainable public transportation services, among many others. 

The National Consumer Helpline (NCH) is effectively using WhatsApp to streamline grievance and query resolution systems for a hassle-free experience. The chatbot enables consumers across India to raise complaints, access grievance records to track status updates and allows the government to spread awareness about consumer rights.