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.

Orry Turns Up The Heat In Bengaluru With Flying Machine

* The "damn hot" Orry x Flying Machine capsule collection takes Bengaluru by storm!

Following the successful launch of their limited-edition capsule collection in Delhi, the homegrown denim brand, Flying Machine, has brought the heat to their home turf, Bengaluru. This collaboration with the edgy fashion icon Orry has created a collection that's a perfect blend of youthful swagger and iconic denim.

Designed for individuals with a cool and contemporary taste, the Orry x Flying Machine collection features a range of unisex pieces, including T-shirts, shirts, vests, caps, bucket hats, jorts, parachute pants, and, of course, jeans. The collection's vibrant colours and bold designs reflect Orry's signature style and Flying Machine's commitment to modern fashion.  

At the launch event held at the Flying Machine store in Phoenix Marketcity, Bengaluru, Shailesh Chaturvedi, MD & CEO of Arvind Fashions, expressed his enthusiasm for the collection's success. "The Orry X Flying Machine Collaboration has been a phenomenal hit across the country. This will surely strengthen the relationship of Flying Machine with Gen Z consumers and especially its position as the brand who is on top of the pulse."

Orry's presence at the launch event and subsequent afterparty created a buzz among Bangaloreans and netizens alike. The fashion icon expressed his love for the city and his excitement about the collaboration. He said, "This collaboration with Flying Machine has been nothing short of electric! We've created a collection that's full of life, colour, and pure excitement. It's hotter than ever and ready to make a statement."

The Orry x Flying Machine collection is now available for purchase at select Flying Machine stores across India, select Lifestyle and Shopper Stop stores as well as on online platforms such as Myntra and NNNOW.

On This ‘World Sight Day,’ Titan Eye+ Introduces ‘The Eye Test Menu,’ A Major Step Toward Making Indian Roads Safe

* Titan Eye+ aims to increase awareness amongst truck, rickshaw and cab drivers, as well as delivery personnel. Since June 2024, Titan Eye+ has screened over 7,000 drivers in more than 900 locations across India.

As part of its theme to make Indian roads safer, Titan Eye+, India’s leading eye care brand, has launched a drive to address a critical issue that endangers lives on the road—compromised vision among professional drivers.

This ‘World Sight Day,’ celebrated globally to raise awareness about vision impairment and the importance of eye health, Titan Eye+ acknowledges the often-overlooked eye health of those who spend most of their time on the road. As one of many initiatives, they have introduced the “Eye Test Menu,” a creative solution aimed at reaching truck drivers who are always on the move and often overlook the importance of eye care in their demanding schedules.

Since drivers may not be always keen to come for eyecare, Titan Eye+ decided to change that by bringing eye care to them.

As part of the initiative, Titan Eye+ set up eye test camps at strategic locations such as dhabas where truck drivers take their pit stops, transforming the typical experience of stopping for a meal into an opportunity for eye care. Instead of traditional food menus, the brand introduced an ‘Eye Test Menu’—an engaging way to screen drivers for vision problems. These menus, displayed on the walls, mimicked the format of an eye test. To place an order, drivers interacted with the ‘Eye Test Menu,’ which immediately highlighted their vision problems.

Commenting on the initiative, Mr. Maneesh Krishnamurthy, Marketing Head, Eyecare Division, Titan Company, said, “Every year, World Sight Day is an opportunity for Titan Eye+ to draw attention to eyecare. This year we have taken the theme “Make Indian Roads Safe” and our roads are only as safe as the people who drive on them.

The ‘Eye Test Menu’ film created with the team at Ogilvy is an innovation we’re particularly proud of because it doesn’t just offer eye tests—it reaches people where they are and in a manner that catches their attention, shaking the apathy out of vision care.”

The eye test camps featured on-the-spot free eye exams conducted by expert optometrists at these dhabas. Drivers diagnosed with vision issues were prescribed corrective spectacles, with a range of styles to choose from, which were then shipped to their home addresses at subsidized prices.

Make Indian Roads Safe has not only brought essential eye care to the community but has already reached over 7,000 drivers and continues to expand its impact. Expanding the scope of the initiative, Titan Eye+ works closely with platforms like Namma Yatri and others to offer free eye tests to delivery partners, rickshaw drivers, and cab drivers—all critical members of the transportation ecosystem.

Studies show that 1 in 3 truck drivers in India suffer from poor vision, a condition that severely compromises their ability to drive safely. According to statistics, India’s roads witness a startling number of accidents involving large vehicles, with over 25,000 crashes (Ministry of road transport and highway, 2022) and more than 10,000 fatalities (Ministry of road transport and highway, 2022) attributed to trucks and lorries in recent years. Despite the risks involved, many drivers tend to overlook eye care, viewing it as a low priority. This initiative reflects Titan Eye+’s desire to increase awareness about eyecare amongst various communities and create lasting impact.

The campaign video is now live: https://youtu.be/FytFN2rIWgw

Kotak Mahindra Bank To Acquire Standard Chartered Bank, India’s Personal Loan Book

* Acquisition aligned to Kotak’s vision to transform for scale - to drive growth, expand market share and unlock new opportunities in the Salaried Affluent customer segment

Kotak Mahindra Bank Limited (“KMBL”) today announced that it has entered into an agreement to acquire the Personal Loan book (“Proposed Transaction”) of Standard Chartered Bank, India, further strengthening its position in the Retail Credit market.

As of September 30, 2024, Proposed Transaction comprises a total loan outstanding of around ?4,100 crore (equivalent to ~$490 million). The Proposed Transaction consists of loans classified as “Standard Loans” as per the Reserve Bank of India (RBI) guidelines. The transaction is expected to be completed over the next three months, subject to regulatory and other approvals and the satisfaction or waiver of customary closing conditions and KMBL will acquire the loan book, which will be outstanding closer to the completion date.

This acquisition aligns with KMBL’s strategy to transform for scale and focus on customer-centric growth. The high-quality loan book from Standard Chartered Bank allows KMBL to build on its strength in the affluent customer segment and further reinforces its leadership in the retail lending space.

KMBL aims to leverage its technology expertise and quality customer service to ensure a seamless transition for existing Standard Chartered Bank Personal Loan customers, maintaining the high standards both institutions are known for.

Ambuj Chandna, Head-Products, Consumer Bank, Kotak Mahindra Bank, said, “India’s unsecured lending market offers significant growth potential for Kotak, especially in the higher-end segment. Our strong risk management, customer-centric products, and technology-driven approach position us for sustainable growth. This transaction supports our Retail Assets growth strategy and reinforces our commitment to retail lending. It provides access to a high-quality customer base, and with Kotak Group’s successful integration track record, we are committed to a smooth transition. We look forward to welcoming new customers to Kotak Mahindra Bank, ensuring a seamless transition and enhanced experience with our diverse products and services.”

Aditya Mandloi, Head – Wealth & Retail Banking, Standard Chartered Bank, India & South Asia said, “Our decision to divest the personal loan book is in line with the Bank’s focus to accelerate growth in the wealth, affluent and SME segment. India continues to be a key market for Standard Chartered network, with Wealth & Retail Banking (WRB) and Corporate & Investment banking (CIB) as the cornerstones and we will continue to invest and grow in India. Together with Kotak, we remain committed towards ensuring a seamless transition for our clients”.

About Kotak Mahindra Bank Limited

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 a 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 Limited.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. 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. As of 30th June 2024, Bank has a national footprint of 1,965 branches and 3,279 ATMs (including cash recyclers), and branches in GIFT City and DIFC (Dubai). For more information, please visit the company’s website at https://www.kotak.com/

MIT Manipal Celebrates Green Innovations On World Hydrogen Day

The Department of Mechatronics at MIT Manipal inaugurated the “Celebrating Green Innovations (CGI)” initiative on 8th October 2024, coinciding with World Hydrogen Day. The event was marked by a keynote talk and discussions centered on the advancements in hydrogen-based engine technologies, reaffirming MIT Manipal’s commitment to sustainability and clean energy solutions.

The inaugural ceremony was graced by Commander (Dr.) Anil Rana, Director of MIT Manipal, who graced the occasion as a chief guest. In his address, he emphasized the importance of celebrating World Hydrogen Day by focusing on innovative technologies that support sustainability and future energy solutions. He commended the Department of Mechatronics for spearheading this timely initiative.

"At MIT Manipal, we are dedicated to driving innovation in sustainable technologies. Hydrogen-based solutions have immense potential to revolutionize the future of clean energy, and events like CGI reflect our commitment to fostering research that addresses global environmental challenges," said Dr Anil.

The event featured a keynote talk by Dr. Abhishek Paul, Assistant Professor at NIT Silchar, titled “Hydrogen RCCI Engines - The New Frontier of Clean Engine Combustion.” Dr. Paul provided valuable insights into how hydrogen, as a fuel, can transform the landscape of clean combustion technologies. He emphasized that hydrogen-powered RCCI (Reactivity Controlled Compression Ignition) engines offer a promising solution for reducing emissions and enhancing fuel efficiency.

The “Celebrating Green Innovations” initiative at MIT Manipal aims to explore and promote cutting-edge sustainable technologies, with a focus on green energy solutions. Through events like these, MIT Manipal continues to lead in research and innovation, contributing to a more sustainable future.