Allianz Partners India Announces Partnership With CI Metrics To Enhance Predictive Weather-Based Automotive Assistance Solutions

Allianz Partners India, a leading Assistance and Services Company has partnered with CI Metrics, a leader in predictive analytics and risk management, to enhance its proactive roadside assistance breakdown solutions. By integrating CI Metrics’ advanced weather prediction models and AI-driven insights, the company aims to anticipate and respond to automotive weather-related challenges, enhancing customer experience and operational efficiency.

This partnership marks a significant advancement in the automotive assistance industry. It combines Allianz Partners extensive experience with CI Metrics industry-leading technology to revolutionize roadside assistance services. 

Key benefits of this partnership: 

·       Proactive Solutions: With access to real-time weather data and AI-powered predictive models, Allianz Partners will be able to forecast breakdowns caused by adverse weather conditions, minimizing disruption, and improving customer experience.

·     Efficient Resource Allocation: Accurate predictions will enable planning and mobilizing of the resources more effectively during weather-related incidents, ensuring faster response time and potentially reducing average wait time. 

·     Enhanced Customer Trust: By offering more reliable and proactive services, Allianz Partners will reinforce its commitment to excellence and customer satisfaction.

Charu Kaushal, Managing Director of Allianz Partners India, said, “We are excited to partner with CI Metrics in this next phase of delivering unparalleled reliability for our valued customers. Leveraging CI Metrics’ advanced weather prediction models will allow us to anticipate breakdowns accurately and reduce the impact of weather anomalies on our customers during extreme weather conditions. This partnership aligns perfectly with our mission to provide peace of mind to our customers anytime, anywhere.”

Gagan Agrawal, Investor and Advisor at CI Metrics, added, “Allianz Partners longstanding reputation in roadside assistance services, combined with our state-of-the-art predictive analytics and AI-driven insights, will set a new standard. Our approach incorporates satellite and drone imagery, data fusion and ground up ontology stack, AI and deep learning to achieve high prediction accuracy for severe weather events.”

Toyota Kirloskar Motor Introduces Limited Festival Edition Of Toyota Rumion

* Experience enhanced comfort and prestige powered by premium TGA packages

* Complimentary accessory packages available across all Toyota dealerships until 31st October 2024.

Making this festive season special for car buyers, Toyota Kirloskar Motor (TKM) today introduced the Festive Edition of the Toyota Rumion. This Limited-Edition, featuring exclusive Toyota Genuine Accessory (TGA) packages aimed at enhancing the Rumion's aesthetics and comfort is the perfect mobility choice to celebrate the season in elegance and style.

This festive edition of the Rumion, available across all grades, comes with a dealer-fitted TGA package worth ?20,608, ensuring that customers enjoy a premium experience.

The Festival Limited Edition TGA package features:

Back Door Garnish

Mud Flaps

Rear Bumper Garnish

Deluxe Carpet Mat (RHD)

Head Lamp Garnish

Number Plate Garnish

Door Visor - Chrome

Roof Edge Spoiler

Body Side Molding Garnish Finish

Commenting on the introduction of the festive editions, Mr. Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “We are thrilled to introduce the Limited-Edition Toyota Rumion, which not only enhances aesthetics and comfort but also ensures a superior driving experience.  As we embrace the festive spirit leading up to Diwali, our commitment to offering exceptional value to our customers remains unwavering. This special edition showcases our dedication to customer satisfaction by offering newness through features such as premium accessories, extended warranties topped with outstanding after-sales service, all meticulously designed to cater to the unique needs of Indian buyers.”

The Toyota Rumion has already garnered a strong following as a versatile and family-friendly MPV, seamlessly combining spacious interiors, fuel efficiency, and superior safety features. Offering a choice between a 5-speed manual transmission and a smooth 6-speed automatic transmission, providing a seamless driving experience for both manual and automatic enthusiasts, this MPV is available in powerful K series 1.5-litre Petrol engine with Neo Drive (ISG) technology and E-CNG technology. The cutting-edge K-series engine also offers an excellent fuel efficiency of 20.51 km/l for Petrol variant and 26.11 km/kg for CNG variant.

Toyota Rumion is available in six variants of S MT/AT, G MT, and V MT/AT, S MT CNG offering a wide range of options for customers.

Bookings for the Festival Limited Edition of the Toyota Rumion are now open at all Toyota dealerships, as well as online at www.toyotabharat.com/online-booking.

Airace Elevates Geospatial Tech With New Features For Precision Data Collection: Empowering Surveyors, Engineers & Farmers

* Free Lifetime Access, Local Language Support, and Advanced Hardware Help Professionals Achieve Greater Accuracy and Efficiency in the Field

Airace Technologies Private Limited, a leading provider of geospatial solutions, has rolled out a range of exciting updates aimed at helping professionals in surveying, engineering, and agriculture. With the introduction of local language support, free lifetime app access, new land measurement units like guntha, and enhanced hardware, these updates are set to revolutionize how users collect and analyze geographical data.

“Our latest features are designed to make advanced geospatial tools more practical and user-friendly for professionals working in real-world conditions," said Swayambhu Mohanty, Co-Founder of Airace Technologies. "Whether you’re a surveyor in a remote field or an engineer on a complex project site, these improvements help you capture highly accurate data with ease.”

Making Technology Accessible to All Users

One of the major updates is the addition of local and regional language support to the Airace One application. This enables users—particularly those in agriculture and land management fields—to easily navigate the app in their preferred language. With the inclusion of land measurement units like guntha, the app becomes even more relevant for professionals working across diverse geographies in India.

Supporting the Next Generation of Field Professionals with Free Lifetime Access

In a move that sets Airace apart from competitors, the Airace One app is now available with free lifetime access, including feature upgrades at no extra cost. This ensures that surveyors, engineers, and farmers always have access to the latest tools without worrying about additional fees, making it an ideal solution for both seasoned professionals and newcomers to the industry.

Boosting Signal Strength and Precision with New Hardware

To further support users working in challenging terrain, Airace Technologies has launched a new UHF Antenna that guarantees strong signal reception over distances of up to 15 kilometers. This addition is designed to ensure reliable performance in varied field conditions, making it easier for professionals to maintain accuracy and connectivity no matter where they work.

Time-Saving, Calibration-Free IMU and Lightweight GNSS Receiver

Airace’s new IMU simplifies data collection by allowing precise measurements at up to 60 degrees of tilt without the need for calibration. This feature is a game-changer for those working in rugged environments, as it helps save time and boosts efficiency. Additionally, the redesigned GNSS receiver weighs just 400 grams, providing all-day comfort for users who need to carry the device over long periods.

About Airace Technologies Private Limited

Airace is a leader in geospatial solutions, combining innovative hardware with intuitive software to improve how professionals capture, visualize, and analyze data. Focused on accessibility and affordability, Airace serves industries such as agriculture, surveying, and engineering, helping them make informed decisions through precise geospatial data.

For more information, visit https://airace.in/

Kotak Mahindra Bank Announces Results In Q2FY24

Kotak Mahindra Bank Consolidated PAT for Q2FY25 Rs 5,044 crore, up 13% YoY Standalone PAT for Q2FY25 Rs 3,344 crore, up 5% YoY

The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2024, at the Board meeting held in Mumbai, today.

Consolidated results at a glance

At the consolidated level, Return on Assets (ROA) for Q2FY25 (annualized) was 2.53% (2.68% for Q2FY24). Return on Equity (ROE) for Q2FY25 (annualized) was 13.88% (14.99% for Q2FY24).

Consolidated Capital Adequacy Ratio as per Basel III as at September 30, 2024 was 22.6% and CET I ratio was 21.7% (including unaudited profits).

Consolidated Networth as at September 30, 2024 was Rs 147,214 crore (including increase in reserves due to RBI’s Master Direction on Bank’s investment valuation of Rs 4,777 crore and gain on KGI divestment of Rs 2,730 crore). The Book Value per Share at September 30, 2024 was Rs 740 (Rs 605 at September 30, 2023).

Consolidated Customer Assets which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes grew to

Rs 510,598 crore as at September 30, 2024 from Rs 428,404 crore as at September 30, 2023, up 19% YoY.

Total Assets Under Management as at September 30, 2024 were Rs 680,838 crore up 37% YoY over Rs 498,342 crore as at September 30, 2023.

Kotak Asset Management, the 5th largest AMC saw its Domestic MF Equity AUM increase by 60% YoY to Rs 319,161 crore as at September 30, 2024.

Kotak Mahindra Bank Reports Standalone Results For Q2, 2O24

The Bank’s PAT for Q2FY25 stood at Rs 3,344 crore, up 5% YoY from Rs 3,191 crore in Q2FY24

Net Interest Income (NII) for Q2FY25 increased to Rs 7,020 crore, from Rs 6,297 crore in Q2FY24, up 11% YoY. Net Interest Margin (NIM) was 4.91% for Q2FY25.

Fees and services for Q2FY25 increased to Rs 2,312 crore from Rs 2,026 crore in Q2FY24, up 14% YoY. Operating profit for Q2FY25 increased to Rs 5,099 crore from Rs 4,610 crore in Q2FY24, up 11% YoY. Customers as on September 30, 2024 were 5.2 cr (4.6 cr as on September 30, 2023).

Customer Assets, which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes, increased by 18% YoY to Rs 450,064 crore as at September 30, 2024 from Rs 380,412 crore as at September 30, 2023. Advances (incl. IBPC & BRDS) increased 17% YoY to Rs 419,108 crore as at September 30, 2024 from Unsecured retail advances (incl. retail microcredit) as a % of net advances stood at 11.3% as at September 30, 2024.

 357,012 crore as at September 30, 2023.

Unsecured retail advances (incl. retail microcredit) as a % of net advances stood at 11.3% as at September 30, 2024.

Average Total Deposits grew to Rs 446,110 crore for Q2FY25 compared to Rs 385,950 crore for Q2FY24 up 16% YoY. Average Current Deposits grew to Rs 61,853 crore for Q2FY25 compared to Rs 58,351 crore for Q2FY24 up 6% YoY. Average Savings Deposits grew to Rs 124,823 crore for Q2FY25 compared to Rs 121,967 crore for Q2FY24 up 2% YoY. Average Term Deposits grew to Rs 259,434 crore for Q2FY25 compared to Rs 205,632 crore for Q2FY24 up 26% YoY.

CASA ratio as at September 30, 2024 stood at 43.6% (June 30, 2024 at 43.4%) TD sweep balance grew 41% YoY to Rs 52,411 crore.

As at September 30, 2024, GNPA was 1.49% & NNPA was 0.43% (GNPA was 1.72% & NNPA was 0.37% at September 30, 2023).

Capital Adequacy Ratio of the Bank, as per Basel III, as at September 30, 2024 was 22.6% and CET1 ratio of 21.5% (including unaudited profits).

Standalone Return on Assets (ROA) for Q2FY25 (annualized) was 2.17% (2.45% for Q2FY24).

The financial statements of Indian subsidiaries (excluding insurance companies) and associates are prepared as per Indian Accounting Standards in accordance with the Companies (Indian Accounting Standards) Rules, 2015. The financial statements of subsidiaries located outside India are prepared in accordance with accounting principles generally accepted in their respective countries. However, for the purpose of preparation of the consolidated financial results, the results of subsidiaries and associates are in accordance with Generally Accepted Accounting Principles in India (‘GAAP’) specified under Section 133 and relevant provision of Companies Act, 2013.

About Kotak Mahindra Group

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd (KMBL).

Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked.

Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region, Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius respectively. As on 30th September 2024, Kotak Mahindra Bank Ltd has a national footprint of 2,013 branches and 3,329 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai).

Introducing Galaxy A16 5G For INR 18999: Unleash Your Creativity Featuring A Triple Camera With Ultra-Wide, 6 Years Of OS Upgrades

Samsung, India’s largest consumer electronics brand, today announced the launch of the Galaxy A16 5G in India, starting INR 18999.

Bringing awesome innovations to users at an accessible price, Galaxy A16 5G sets a new standard for mid-range smartphones in India by providing 6 generations of OS upgrades and 6 years of security updates.

Samsung Galaxy A16 5G will be available in two variants – 8 GB/128 GB and 8 GB/256 GB in trendy colours such as Gold, Light Green and Blue Black. It will be available across retail stores, Samsung.com, and online platforms including Amazon.in and Flipkart.com, starting today.

Awesome Design and Performance

Samsung Galaxy A16 5G has been engineered to be both sleek and practical. The device measures just 7.9mm in width, being the slimmest mid-range Galaxy A series smartphone so far. The iconic ‘Key Island’ aesthetic, paired with a refined glasstic back and thin bezels, make it visually striking. Beyond its stunning design, the Galaxy A16 5G is equipped with a robust 5000mAh battery, ensuring long-lasting power for users on the go. Powered by the upgraded MediaTek Dimensity 6300 processor, it offers hyper-fast connectivity and seamless multitasking, delivering a smooth and lag-free experience whether you're gaming, streaming, or switching between applications.

Awesome Camera and Display

The device boasts a powerful and versatile triple camera system, featuring a 50 MP wide, 5 MP ultra-wide, and 2 MP macro lens. The ultra-wide lens is especially designed to capture breathtaking landscapes and expansive shots, allowing users to showcase their creativity by capturing more of the world around them in every frame. Complementing this is the vibrant Super AMOLED display, with a large 6.7” Full HD+ screen that delivers true colours, faster motion response and a contrast ratio of 1 million :1;  making it ideal for immersive content viewing and streaming.

Trustworthiness and Reliability

Samsung is redefining reliability with Galaxy A16 5G, offering an impressive 6 generations of OS upgrades and 6 years of security updates, a commitment that sets it apart in the mid-range market and reflects the democratization of flagship features. These industry-leading upgrades and updates are set to keep the device always up to date and ensure smoother usage experiences for users for a long period. Highlighting its endurance, the device further boasts an IP54 rating for water and dust resistance, ensuring it withstands everyday challenges. Complementing this durability is Samsung’s Knox Vault chipset, designed to safeguard sensitive data, such as PINs, passwords and patterns, in a separate tamper-resistant storage for protection against software and hardware threats, providing consumers with peace of mind. Galaxy A16 5G thus amalgamates strong security and long-term support, establishing a new standard for reliability in smartphones.

Awesome Galaxy Experiences

The Galaxy A16 5G introduces Samsung Wallet, which features a distinctive ‘Tap & Pay’ capability powered by NFC (Near Field Communication) —an offering that sets it apart from other devices in this price segment. This functionality enhances payment convenience, allowing users to make transactions seamlessly and efficiently. Additionally, the device incorporates Voice Focus, a feature developed with Indian users in mind, ensuring clear communication even in noisy environments. Through these thoughtful innovations, Samsung is democratizing advanced technology, making it more accessible and practical for everyday use at an affordable price point.

Awesome Security & Privacy

The Galaxy A16 5G prioritizes security and privacy with the advanced Knox Security platform, which includes features like Samsung Pass for secure password management, Pin App for locking individual apps, Secure Folder for storing sensitive files, and Private Share for controlled file sharing. This comprehensive suite of tools empowers users to manage their data securely, enhancing their overall experience.

Price and Launch Offers

As part of the Galaxy A16 5G launch offer, Samsung India is offering a special promotion for its Tap & Pay feature. Users who complete five Tap & Pay transactions through Samsung Wallet will receive a Rs 500 voucher. This limited-time offer is valid until December 31, 2024.

International Group Company Novus Technologies’ Powered Philippine’s Largest Bank-Agnostic Mobile ATM Network RCBC’s ‘ATM Go’

* Achieves 50% Revenue Growth and 31% Transaction Value Surge in 2024, Surpassing ~USD 132 million Milestone Achieved in the Previous Year

AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), one of the leading providers of integrated omni-channel payment solutions in India, providing digital and cash-based solutions to banks and corporate clients, today announced that the Philippines’s largest bank-agnostic network of mobile ATM RCBC ‘ATM Go’ deployed by the Philippines’ fastest growing bank Rizal Commercial Banking Corporation (RCBC) and powered by our international Group Company Novus Technologies Pte. Limited, has reported remarkable growth. RCBC’s ATM Go serves as the last mile in delivering banking services nationwide.

The Bank announced ATM Go’s revenue increase by 50%, and gross transaction value rose by 31%, as of August 2024. Additionally, compared to the previous year, the number of deployed terminals and merchant partners surged by 113% and 150%. By August 2023, ATM Go had already hit US$ 132.1 million in value (PHP 7.5 billion).

AGS Transact’s international Group company earns revenue in the form of monthly fixed fee and transaction fee.

The pioneering RCBC ATM Go powered by Novus Technologies, is Philippines’ first bank-agnostic, last-mile, and community mobile ATM, and has been built in a partnership between Novus Technologies and RCBC. It boasts of 100% nationwide coverage, available in 96% of cities and 51% of municipalities. This innovative solution enables cash withdrawals and deposits, bank transfers, account management, e-load purchases and bill payments. To date, it has benefitted over 10 million families, with 60% of transactions conducted by rural women engaging with ATM Go agents on a monthly basis in geographically isolated and underserved areas.

As the only private universal bank present in all provinces of the Bangsamoro Autonomous Region in Mindanao, RCBC is uniquely positioned to drive financial inclusion. It has witnessed over 90% of ATM Go transactions originating from rural communities and 68% of our users being rural women, which reaffirms the powerful role that access to banking services plays in empowering individuals. Further, around 60% of these transactions are linked to Conditional Cash Transfer (CCT) programs.

RCBC’S ATM GO leverages the secure and robust technology stack provided by Novus Technologies, ensuring reliable access to cash withdrawals, deposits, transfers, and bill payments, even in remote areas. Further, the seamless integration of Novus’ platform with RCBC’s core systems enables real- time transactions, promoting financial inclusion for millions who face barriers to traditional banking. It is PCI-DSS compliant and equipped with advanced fraud detection mechanisms.

RCBC’s ATM Go has received widespread recognition, including prestigious awards in the Philippines such as the Best ATM Project in The Asset Triple A Digital Awards 2024 and Best SME Financial Inclusion Initiative in The Digital Banker – Global SME Banking Innovation Awards.

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.

Ongo is a fast-growing omnichannel digital payment platform by AGS Transact Technologies, which offers convenient payment solutions. Launched in 2015, 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 across segments.

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. 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. For more information, visit www.agsindia.com

Tech Mahindra: In-Line Performance; On Track For Medium-Term Objectives

BUY

Information Technology   

Result Update   

October 20, 2024

TARGET PRICE (Rs) : 1,700

Tech Mahindra reported broadly in line operating performance. Revenue grew 1.9% QoQ to USD1.59bn (CC 0.7%), in-line with expectations. Growth was broad-based with 5 of the 7 verticals seeing QoQ increase. EBITM rose by 110bps QoQ to 9.6%, in sync with our estimate. Management indicated that demand environment and discretionary spends remained similar to previous quarter. Deal intake was steady at USD603mn (534mn QoQ). Management continues to prioritize margin over growth in the near term, and is therefore selectively participating in large deals. Although the demand environment remains soft, the company continues to focus on strengthening client relationships and expanding partner ecosystem, leading to steady progress on Vision 2027. We tweak FY25E EPS ~6% (factoring in one-off gain from sale of land in Q2) while largely retaining FY26E and FY27E EPS. After the strong rally (10%/42% in 3M/12M; 4%/10% outperformance over Nifty IT index), we expect the stock to consolidate; maintain ADD with TP of Rs1,700 at 22x Sep-26E EPS.

Results Summary

Revenue grew 1.9% QoQ (0.7% in CC) to USD1.59bn, broadly in line with our estimates. Revenue for IT Services and BPS verticals grew 1.8% and 2.4% QoQ. Following five of the seven verticals saw sequential growth: Hi-Tech and Media (5.7% QoQ), Retail, Transportation and Logistics (5.6%), BFSI (2.4%), Communications (2.7%), and Others (7.8%); whereas Manufacturing and Healthcare & Lifesciences declined 4% and 1.8% QoQ, respectively. Among geographies, Europe and ROW grew 4.5% and 5% QoQ, respectively, while Americas declined 0.7%. EBITM expanded by 110bps QoQ to 9.6% (third quarter of margin expansion) on the back of operating efficiencies through Project Fortius (70bps) and currency benefits (40bps). Net-new deal wins improved sequentially to USD603mn. Total headcount grew 4.5% QoQ/2.4% YoY to 154,273, largely driven by addition in the BPO headcount. Attrition inched up to 10.6% (vs 10.1% in Q1). What we liked: Improved operating performance, steady deal intake. What we did not like: Softness in manufacturing, HLS, and Americas; continued weakness in Top-5 clients.

Earnings Call KTAs

i) Manufacturing reported weak performance in Q2 on the back of softness in Auto (exposure is skewed toward Americas) and weak discretionary spending. ii) Key telecom clients continue to prioritize cost savings, and spending on discretionary projects is constrained. Interest rate cut will provide some relief to telcos which may lead to some stability in spending. Management maintained that company has retained its wallet share; they also indicated that reduction in spending is due to budget cut and insourcing in some cases. It is seeing stabilization in APAC and Europe markets, while Americas is likely to turn around in sometime. iii) BFSI maintained momentum on the back of growing relationship with existing clients and addition of new logos. BFSI is also seeing some improvement in demand and spending particularly in insurance, asset management, and payments. However, it will face some impact of furloughs in Q3. iv) Q3 growth is likely to be impacted by seasonality (furlough and lower working days). v) The management believes levers are in place for margin improvement like subcon optimization, offshoring, automation-led efficiencies in fixed-price projects, pyramid correction, and pricing. Investment in Project Fortius is expected to be slightly higher in H2. vi) It added 2,000 freshers in Q2 and is on track to add 6,000 in FY25. vii) TechM and Google cloud platform partnered to boost GenAI adoption and lead digital transformation for various M&M group entities.