NUCFDC Launches “Sahakar PaathShaala”’ A National Training Programme For UCBs

National Urban Co-operative Finance & Development Corporation (NUCFDC) has launched “Sahakar PaathShaala” a national-level training and capacity-building program for Urban Cooperative Banks (UCBs). The inaugural session, held at the Cosmos Bank Head Office in Pune in presence of Shri Prabhat Chaturvedi, Chief Executive Officer, NUCFDC; Shri Padmabhushan Bahadure, Chief Technology Officer, NUCFDC; Shri Adv. Pralhad Kokare, Chairman, Cosmos Bank and Shri Sharad Gangal, Chairman, TJSB Sahakari Bank. The event saw the convergence of over 100 senior leaders, including CEOs and Directors from UCBs across Maharashtra, Gujarat, Telangana, and Karnataka.

Speaking about the initiative, Shri Prabhat Chaturvedi, CEO, NUCFDC said, “This is a defining step towards building a future-ready UCB sector. In alignment with the Government of India’s vision of 'Sahakar Se Samriddhi' to strengthen the cooperative sector, Sahakar PaathShaala aims to strengthen compliance frameworks for UCBs and empower them to become dynamic, digitally enabled, and future-ready institutions. This is not merely capacity building; it is a capacity transformation program. The program aims to boost sectoral excellence and chart sustainable growth for UCBs to thrive in in an evolving financial landscape”.

This structured, multi-dimensional learning platform offers practical insights into key areas such as KYC compliance, fraud risk mitigation, and treasury management. Designed specifically for UCBs, the program goes beyond knowledge-sharing to support institutions in meeting member goals and keeping pace with evolving regulatory demands. It emphasizes strengthening governance and compliance, cultivating agile leadership to manage risk and drive growth, building a digitally skilled workforce, and accelerating digital transformation through enhanced adoption of technology and IT tools.

NUCFDC also unveiled the 'Sahakar PaathShaala Digital Learning Platform'. This gamified, multilingual portal allows UCB professionals to learn flexibly, anytime, anywhere. Inaugurated by Shri Sharad Gangal, Chairman, TJSB Bank, the platform supports continuous learning in English and major regional languages.

Concurrently, NUCFDC rolled out the 'Sahakar PaathShaala Interactive Webinar Series', scheduled for the second and fourth Fridays of each month. These webinars will serve as an ongoing dialogue and learning forum for Chairmen, CEOs, and senior management of UCBs.

Ciklum Acquires India-Based CodeAstu To Scale Experience Engineering And Strengthen AI Edge

Ciklum, a global Experience Engineering leader, has today confirmed its acquisition of CodeAstu, a specialist in building high performance software. This deal significantly enhances Ciklum’s global delivery capabilities with the integration of CodeAstu's highly skilled team based in Pune, India, while also helping to cement Ciklum’s ongoing growth within the US market.

Ciklum has a global workforce of more than 4,000 people, with deep skills across engineering, design, product and consultancy. Ciklum creates digital products and exceptional customer experiences for a client base of more than 250 global enterprises and new digital disruptors, and has built a strong track record in next-generation product engineering and cutting-edge artificial intelligence.

CodeAstu is headquartered in Pune, India, and specializes in web and mobile application development, high performance computing as well as comprehensive DevOps consulting. The highly skilled team in India plays a pivotal role in CodeAstu's delivery excellence.

This acquisition further strengthens Ciklum’s existing spectrum of Experience Engineering capabilities, leveraging high performance computing to engineer dynamic and ultra-responsive digital products that elevate all touchpoints of the customer journey.

“CodeAstu brings not just technical excellence in high performance software development and data engineering, but a culture of precision and creativity that aligns perfectly with our vision for experience-led, AI-powered digital engineering,” said Raj Radhakrishnan, CEO of Ciklum. “Together, we’re not just scaling—we’re reimagining how world-class digital products are designed and delivered.”

“Joining forces with Ciklum unlocks a new chapter for CodeAstu,” said Santosh Mantri, CEO of CodeAstu. “With our shared passion for innovation and excellence, we’re poised to deliver next-generation digital solutions at global scale—combining deep engineering roots with bold, human-centered design.”

French-Caribbean Star David Walters Brings Soul Tropical Rhythms To India This Summer

* A Musical Celebration of Identity, Joy, and Global Sounds on the Occasion of Fête de la Musique

This June and July, India sways to the infectious rhythms of Soul Tropical as French-Caribbean musician David Walters embarks on his much-awaited India tour — a radiant musical journey blending Afro-Caribbean roots, soul, funk, and global grooves. This celebration of music, culture, and connection arrives as part of the international Fête de la Musique festival, observed every June across the world.

Presented by the French Institute in India and the Alliance Française network in India, this tour promises electrifying performances in cities including New Delhi, Chandigarh, Bhopal, Pune, Hyderabad, Bengaluru, Kolkata, and Jaipur.

Walters, known for his genre-defying sonic palette and powerful stage presence, brings a deep emotional resonance to his performances. His latest album, Soul Tropical, is both a personal homage to his Caribbean heritage and a universal ode to joy and resilience. It features acclaimed collaborations with artists like Mario Canonge, Ballaké Sissoko, Flavia Coelho, and Captain Planet, weaving together sounds from Martinique, Guadeloupe, Cuba, Brazil, and Africa — all filtered through the vibrant energy of Marseille, Paris, Sheffield, and Los Angeles.

“This isn’t just music to listen to — it’s music to feel, to move to, to heal with,” says Walters. “Soul Tropical is about dancing through grief, reconnecting with family, and finding joy in shared rhythms.”

Event Details:

New Delhi                  18 June, 9:00 pm                      The Pianioman, Eldeco Centre, Saket

Chandigarh                19 June, 7:30 pm                      Tagore Theatre

Bhopal                         21 June, 7:00 pm                      Madhya Pradesh Tribal Museum

Pune                             22 June, 7:00 pm                      FC Road Social

Hyderabad                  24 June, 8: 00 pm                     EXT, Film Nagar

Bengaluru                   27 June, 7:30 pm                      Alliance Française de Bangalore

Kolkata                        01 July, 6:30 pm                      Indian Museum

Jaipur                           05 July, 7:00 pm                      Diggi Palace

*       Live concerts infused with island soul, dance beats, and tropical warmth

*       Free and ticketed events, depending on the venue

Full tour details and registration links: https://www.ifindia.in/event/david-walters

Why India?

David Walters' music is a testament to the universality of rhythm and melody. His previous collaborations with Indian artists, such as the fusion project with Rajasthan Roots and performances with Bangalore-based musicians, have showcased his ability to seamlessly blend Caribbean beats with Indian folk traditions.

Walters’ visit is more than a tour — it’s a cultural bridge. France’s deep-rooted connection to India through music, language, and artistic collaborations finds new expression in Soul Tropical, a perfect fit for the diverse, multilingual, and rhythm-loving Indian audience. The tour serves as a vibrant showcase of Fête de la Musique's original spirit — making music accessible, open, and alive in public spaces.

During his stops in Bengaluru, Kolkata, and Jaipur, the tour will take on a deeper, more collaborative turn. Walters will engage in intimate musical residencies with local folk musicians, co-creating new compositions that blend their distinct traditions with his tropical soundscapes.

About David Walters:

A multi-instrumentalist, vocalist, and globe-trotter, Walters has spent over two decades redefining the boundaries of world music. From his early hits like Awa to the critically acclaimed Nocturne, his work speaks to a global citizen's heart. Soul Tropical, released in 2023 under Heavenly Sweetness, is his most joyous and danceable project yet — a celebration of heritage and humanity.

This World Gin Day, Discover Hidden Jewels By BOMBAY SAPPHIRE – A Toast To The Striking Beauty In The World

This World Gin Day, BOMBAY SAPPHIRE invites audiences to step into a world of immersive beauty with Hidden Jewels – a collection of strikingly beautiful off-the-menu cocktails crafted by 50 of the most influential bartenders across the country.

From the cool stillness of Kashmir’s Dal Lake to the vibrant bustle of Jaipur’s markets, each Hidden Jewel is inspired by a place of wonder – and transformed into an immersive drink experience. Crafted by leading names like Zanngasung (Soho House, Mumbai), Prantik Haldar (The Bombay Canteen, Mumbai), Naval Bhatt (Lair, New Delhi), Shubham Meisnam (Sidecar, New Delhi), and many more, this limited-edition curation is an invitation to slow down and allow yourself to savour the world’s beauty.

A New Way of Savoring: Beauty in Every Sip

Earlier, BOMBAY SAPPHIRE brought together 50 of India’s top bartenders for an immersive experience in the wilds of Meghalaya. Through a series of workshops with indigenous artisans and chefs, the bartenders were inspired to observe, immerse, and draw from the striking beauty all around. The result is a new form of cocktail craftsmanship — one where every detail, from colour and aroma to garnishing and flavour, evokes a deeper sense of place and purpose – inviting you to stop in your tracks and be enamored by their striking beauty.

Adtnu Tiwari, Category Lead, Premium White Spirits, shared, “Across India, we are seeing a growing desire for experiences that invite us to pause, discover, and truly savour moments with friends and family. With Hidden Jewels, we are bringing elevated drinking experiences with cocktails that reframe how beauty shows up behind the bar – compelling us to observe, immerse, and feel moments that go on to become cherished memories,”

Top Hidden Jewels to discover this month

Launching this World Gin Month (June), these cocktails are waiting to be discovered at leading bars across Mumbai, Delhi, Bengaluru, Goa, Hyderabad, Jaipur, and Kolkata. From the golden glow of Rajasthan's Thar Desert captured in Desert Bloom (Bar Spirit Forward, Bengaluru); the natural beauty of Rhododendron Trail of Sikkim in The Daily Bloom (SOKA, Bengaluru) and Footsteps and Flavours (Ioya Bar, Bengaluru); the lush Darjeeling Tea Fields in West Bengal in Breakfast Champagne (ZLB23, Bengaluru); the stillness of Laxmanpur Beach in Andaman captured in Summer Bloom (Dali & Gala, Bengaluru); the scenic wonders of Monsoon in the Western Ghats in Tympew (Copitas, Bengaluru); the laid back Alleppy Backwaters, Kerala in Alleppy Elements (Monkey Bar, Bengaluru); to the serenity of Kashmir’s Dal Lake in The Lake View (Siren Cocktail Bar, Bengaluru), get ready to experience the surreal moments that draw you in, poured into a glass at top bars in your city.

About Bombay Sapphire

Bombay Sapphire is a world-leading premium gin, crafted in England since 1987. Renowned for its iconic blue bottle, the gin is distilled using a signature vapor infusion process and a unique blend of ten hand-selected botanicals, including juniper, almond, coriander, and grains of paradise, resulting in a clean, bright, and balanced flavour.

Gen Z Is Balling Solo, Paying Via UPI & Redeeming Loyalty Coins; Cleartrip Data Reveals Gen Z’s Bold New Travel Playbook

Travel, the Gen Z Way: Solo, Digital & on their terms! Cleartrip, a Flipkart company and one of India’s fastest-growing online travel technology platforms, has released new data insights from its latest report highlighting how Gen Z travellers are reshaping the Indian travel landscape. With a strong digital and an aspirational mindset, this cohort is increasingly adopting new-age travel behaviours that reflect independence, flexibility, and a willingness to spend on comfort and personal freedom.

“Gen Z travellers are rewriting the rules of Travel. For them, travel is not just a break, but a lifestyle choice and a form of self-expression,” said a Cleartrip spokesperson. “They’re independent, digitally savvy, and far more willing to spend on personalised, comfortable experiences, often preferring solo or niche travel over traditional group itineraries.”

Key highlights from the Cleartrip Gen Z Travel Report:

Gen Z is choosing to Travel Solo

According to Cleartrip’s data, Gen Z is increasingly embracing solo travel, with a 7% higher share of solo trips compared to other age groups. This depicts a notable shift from traditional family trips, where budgets and choices were shared and often driven by older members. Today’s Gen Z traveller seeks the freedom to explore offbeat, experience-driven destinations on their terms by focusing on adventure, nature, and peace over traditional sightseeing.

Smart and Flexible Payments define Gen Z travel choices

This independent travel mindset also reflects in how they choose to pay for their trips. Gen Z is leaning into UPI and debit card usage more than credit cards, with 10% more UPI transactions than other groups. EMI-based travel payments are widely preferred, with more than 10% of Gen Z users opting for this mode. This points to Gen Z’s strong aspiration to travel luxuriously, regardless of budget constraints.

Gen Z prioritises Convenience

Another emerging trend is the rise in meal-attached bookings among Gen Z compared to the older age groups, indicating a steady catch-up in preferences for convenience and full-service experiences.

Flexibility and Value are Key Drivers

Gen Z travellers are likely to opt for flexible travel options like Cleartrip’s ClearChoice, reflecting their preference for spontaneity and travel on their terms. They're also about 1 in 10 more likely to redeem reward points such as SuperCoins and use travel coupons 1.5 times more often than other age groups, underlining their strong focus on value-driven travel.

About Cleartrip:

Launched in July 2006, Cleartrip Pvt Ltd., a Flipkart company, has emerged as India’s fastest-growing online travel technology company. In April 2021, Flipkart acquired a majority stake in Cleartrip. Cleartrip recently emerged as the no. 2 OTA player as per a study by VIDEC. With an aggressive plan to emerge as a leading innovator in the industry, Cleartrip is on its way to building a differentiated value proposition for its customers looking for end-to-end travel solutions. With industry-first offerings including ClearChoice Plus and ClearChoice Max, Cleartrip has a clear vision to provide innovative solutions in the OTA segment. Combining intuitive products with a customer-centric approach and a wide selection of flights, hotels, and buses, Cleartrip brings a unique selling point to the market, offering its customers convenience, choice, competitive prices, and premium content.   

Cellecor Gadgets Expands Its Small Appliances Segment, Aims For Rs 100 Cr+ Incremental Annual Revenue From FY26 Onwards

Cellecor Gadgets Limited, one of India’s fastest-growing consumer electronics brands, is set to expand its presence in the Small Kitchen and Home Appliances segment from July 2025. Driven by strong consumer demand and growing recognition for its innovation and product reliability, the company is strengthening its commitment to delivering smart, intuitive, and modern solutions tailored to the evolving needs of Indian households. This expansion marks a key step in its journey to make home appliances more convenient, useful, and affordable for emerging India.

As part of this expansion, Cellecor will launch a range of essential appliances, including microwave ovens, induction cooktops, rice cookers, mixers, nutri blenders, juicers, air fryers, irons, and more. All products are designed for daily use, with a focus on ease and functionality.

The new product lineup is projected to add around ?100 crore to Cellecor’s annual revenue, driven by stronger profit margins and greater brand visibility, further solidifying its position as a trusted name in India’s fast-growing consumer appliance market.

The decision to expand into this high-demand category stems from a clear and growing consumer preference for compact, durable, and affordable appliances that integrate seamlessly into busy lifestyles. This foray complements Cellecor’s expanding portfolio, which already includes consumer electronics, large appliances, smart gadgets, mobiles, IT products, and mobile accessories. By entering this fast-moving, high-engagement segment, Cellecor aims to deepen everyday consumer interactions while driving sustained, scalable business growth.

“We’re committed to creating meaningful solutions that enhance everyday life, and this expansion is another step forward in offering our customers more choices that blend with their lifestyles and expectations,” said Ravi Agarwal, Managing Director, Cellecor Gadgets Limited.

The new product range will be available across Cellecor’s robust offline retail network, including exclusive brand stores and partner outlets, as well as on leading online marketplaces.

With this launch, Cellecor reaffirms its mission to go beyond products—to create experiences that simplify, support, and enrich the daily lives of millions of Indian consumers.

About Cellecor Gadgets Limited

Cellecor Gadgets Limited's journey in the electronics device business, and selling products in its own brand, including Smart TVs, Smart Gadgets, Wearables, Mobile Phones, Home and Kitchen Appliances, and more outsourced from various electronic assemblers and manufacturers, started in 2012 as M/s Unity Communications-its founder Mr. Ravi Agarwal’s proprietorship firm. The company is promoted and managed with an enduring sustainable business strategy, wherein the company aims to synergetic amalgamate business potential embedded in the ever-growing demand for electronic products with a modern business approach of sourcing, producing, and marketing with an objective to provide quality products at affordable prices. Today, Cellecor Gadgets Ltd is a leading name in the consumer electronics industry, known for its innovative and cutting-edge technology. With a commitment to making happiness affordable, Cellecor offers a diverse range of products, including mobile phones, smart TVs, speakers, neckbands, TWS, soundbars, smartwatches, washing machines, and many more.

The securities of the Company are listed on the NSE EMERGE (SME Platform of National Stock Exchange of India Limited) with Scrip Code: CELLECOR

eClerx Services: Time For A Breather; Downgrade To Add Shares

Information Technology

Company Update  

June 12, 2025

CMP (Rs): 3,652 | TP (Rs): 3,950

ADD

We interacted with Srinivasan Nadadhur, CFO, to understand the demand environment and outlook. Key takeaways: i) The demand environment has largely been stable over the past few months. The company has not seen any noticeable changes in roll-off trends. ii) It expects revenue momentum to continue in the near term on the back of strong deal intake in H2FY25 and a healthy deal pipeline. Headcount addition remains a good indicator for near-term revenue growth. iii) The management expects deal momentum to sustain in FY26 with full-year ACV better than FY25. However, quarterly variation in booking is not ruled out. iv) The company has reiterated adj. EBITDAM guidance of 24-28%. Q1 margin may be impacted by a wage hike. v) Broad-based growth visibility is still in contention due to ongoing uncertainties around tariff, which has led to cautious client behavior in some sectors. vi) Capital allocation policy remains unchanged with a preference for buyback. We remain constructive on eClerx’s medium-term growth prospects and raise target multiple to 24x (earlier 22x) on Jun-27E EPS. However, given limited upside after the sharp rally—the stock is up ~49%/41% in 1M/3M—we downgrade to ADD from Buy with a revised TP of Rs3,950.

Growth momentum to sustain in Q1 amid macro challenges

After delivering strong revenue growth in Q4 (4.4% CC QoQ), the management is optimistic about sustaining momentum in Q1, despite current macro challenges. Demand remains stable, particularly in BFSI, with healthy deal momentum across most verticals. Fashion remains soft, as a couple of top clients in the segment reported weak performance last quarter. Tariff-related discussions are slowing decision-making in Hi-Tech, M&D, and Retail, potentially affecting growth in these verticals. In CMT, some uptick in demand for voice-based roles has been observed, though this needs further monitoring. Europe has remained soft over the past few quarters, partly due to higher exposure to digital, which continued to see pressure. There are plans to hire a leader for Europe to improve traction in that market. G&A cost is likely to increase in Q1 due to the opening of new delivery centers in Egypt and Peru. Adj. EBITDAM guidance is maintained at 24-28%, though Q1 will see headwinds from wage hikes (~400bps gross impact).

Identified focus areas for M&A; capital allocation policy continues

The company will continue its policy of not accumulating excess cash on the balance sheet and pay out cash to shareholders either as dividend or through buyback, with preference for the latter. It is looking for M&A opportunities that align with its overall growth strategy and target capabilities, with a focus on three key areas – a) onshore consulting capabilities in BFSI, particularly in regulatory space; b) creative services in NA; and c) implementation capabilities technologies such as Salesforce and Databricks. It is comfortable allocating 10–20% of its annual revenue as consideration for such acquisitions.