Cyient Named As A Major Contender In The Everest Group PEAK Matrix For Digital Product Engineering Service Provider 2022

Cyient, a leading global Technology Solutions company, has been named a Major Contender in the first edition of Everest Group's PEAK Matrix® for Digital Product Engineering Service Provider 2022. The report identifies Cyient as a leading service provider with strong capabilities and market success across multiple engineering domains. The recognition reiterates Cyient's Integrated Digital Solutions leadership across verticals.

Cyient has made dedicated investments in developing innovation hubs and CoEs to strengthen capabilities in IoT and cloud platforms, data engineering and predictive analytics, GIS system integration, APIs and engineering integration, and UI/UX design & development. In addition, the strategic acquisitions of IG Partners, AnSem, and Blom Aerofilms have empowered Cyient to expand its capabilities in IoT and analytics, ASIC design, and geospatial solutions, respectively. These capabilities give the company a balanced portfolio of customers spanning key geographies and industry verticals.

"Cyient has emerged as a Major Contender in Digital Product Engineering Services PEAK Matrix® Assessment 2022. The company has positioned itself as a credible provider in this market by offering solutions in domains such as IoT, UI/UX design, and embedded systems," said Akshat Vaid, Vice President at Everest Group. "The company has made significant investments in technology studios, covering themes such as data engineering, cloud, design studio, and data & analytics. These studios help clients accelerate time-to-market, maximize adoption, and elevate experience for its customers. Additionally, the acquisition of Ansem and IG Partners have helped the company bolster its capabilities in ASIC design and IoT."

“Cyient has been and will continue to invest heavily in marrying Semiconductor, Embedded Software, Hardware, and Digital capabilities to help our customers exceed their business objectives through our CyientifIQ and IntelliCyient solutions suite. This recognition from Everest demonstrates that we are indeed adding value with innovative and disruptive solutions in the digital product engineering space,” said Pierre Carpentier, Global Head of Digital Technologies, Solutions, and Partnerships.

About Cyient

Cyient (Estd: 1991, NSE: CYIENT) is a leading global Technology Solutions company. We enable our customers to apply technology imaginatively across their value chain to solve problems that matter. We are committed to designing tomorrow together with our stakeholders and being a culturally inclusive, socially responsible, and environmentally sustainable organization.

Tata Consultancy Services Ltd: In-Line Operating Performance During Q4, 2021-2022

BUY

CMP: Rs3696  

Target Price: Rs4000

 *  Q4FY22 operating performance was broadly in line with our expectations. Revenue grew by 3.2%/14.3% QoQ/YoY in CC terms. EBITM remained flat QoQ at 25% due to supply-side challenges, partly offset by operating efficiencies and favorable currency movement.

* Revenue growth was broad-based with double-digit CC YoY growth across the verticals. Growth was led by Retail & CPG (22.1% CC YoY), Manufacturing (19%), Communication and Media (18.7%), Technology & Services (18%), Life Sciences & Healthcare (16.4%) and BFSI (12.9%).

* Management remains confident of sustaining revenue growth momentum in the coming quarters on the back of a robust demand environment, strong deal intake (USD34.6bn in FY22), and broad-based growth.

* We largely retain our EPS estimates for FY23/FY24 (<1% change) after factoring in FY22 performance. TCS is well poised to benefit from strong demand and growing digital transformation opportunities, although salary inflation and potential slowdown in Europe remain near-term concerns. We maintain Buy with a TP of Rs4,000 at 28x Mar'24E EPS.

Castrol Announces Winners Of Super Mechanic Contest 2021-22

-        Winners of the fourth edition were declared at a grand finale held in Delhi NCR

-        Record-breaking 140,000+ mechanics participated in this year’s edition of Castrol Super Mechanic conducted using physical and digital media

-        Over 24,000 mechanics from across the country were trained by Castrol India on various topics in masterclasses endorsed by the Automotive Skilling Development Council (ASDC) of India

Castrol India Limited, India’s leading automotive and industrial lubricant manufacturing company, today announced the winners of the fourth edition of its Super Mechanic Contest, India’s largest mechanic skilling initiative aimed at upskilling Indian mechanics through a competitive national platform. The winners were felicitated by Hon’ble Union Minister, Dharmendra Pradhan, Minister of Education, Skill Development and Entrepreneurship; Sandeep Sangwan, Managing Director, Castrol India and Barun Das, CEO, TV9 Network at a felicitation ceremony held in Delhi NCR. 

The fourth edition of the Castrol Super Mechanic Contest was conducted using both physical and digital media to ensure maximum participation from mechanics across India. It registered record participation from more than 140,000 mechanics, through the contest’s Interactive Voice Response (IVR) round and a dedicated website. The contest included a range of new digital tools and features, including a mobile game to enable participating mechanics to master various assignments and challenges. Each contestant, in addition to testing dexterity in their field, also gained invaluable and relevant industry knowledge through the various stages. The top 50 participants competed in an on-ground finale spread over three days from 5th to 7th April 2022. 

Extending its commitment towards upskilling and uplifting the mechanic community, Castrol India, in partnership with the Automotive Skills Development Council (ASDC) created a specially designed curriculum covering new-age vehicle diagnostics, digital tools for next-generation vehicles, and BS-VI technology, etc. The masterclasses were attended by over 24,000 mechanics spread across the country.

Speaking about the contest, Sandeep Sangwan, Managing Director, Castrol India Limited said, “At the heart of Castrol’s Super Mechanic Contest is our aim to create greater respect and pride that independent mechanics rightfully deserve in their profession. We have used this platform to inspire them to constantly upgrade their knowledge and skills in line with changing industry standards. With the fourth edition of the contest coming to a close, we are extremely delighted to see the enthusiastic response to the contest, as well as the excitement and encouragement it has provided to mechanics. Castrol extends the heartiest congratulations to this season’s winners and will continue to empower the mechanic community.”  

Commenting on the occasion, Hon’ble Union Minister, Dharmendra Pradhan, Minister of Education, Skill Development and Entrepreneurship, said, “The mechanic community is a pivotal component of India’s automotive sector. Harnessing their talents and sharpening their skills in a systematic and organized manner can play a very important role in expanding their livelihood opportunities, allowing them to venture into changing times with confidence and competence. Programs like the Castrol Super Mechanic Contest go a long way in encouraging, upskilling and training mechanics, significantly expanding the scope for employment and entrepreneurship in the country.”

As a part of this season’s partnership with the TV9 network, Castrol Super Mechanic will be aired on the TV9 network and will be hosted by popular television actor Ravi Dubey.

Commenting on the occasion, Barun Das, CEO of TV9 Network, said, "Castrol India Super Mechanic Contest is a path breaking initiative. True to its reputation of being a global leader, Castrol has established new benchmarks. We are proud to be associated with this idea of empowering communities. For us, each of the 1.4 lakh participants is a winner. TV9 Network congratulates the winners of this season of Castrol Super Mechanic Contest"

Emerging triumphant with their skill, knowledge, and passion for automobiles, Kalka Prasad and Kishor Kallapa Gatade were crowned the champions of the Castrol Super Mechanic Contest 2021-22, in the car and bike categories respectively. Both winners were awarded a bike, insurance cover of two years for a family of four, and a cheque of Rs.100,000 or a garage makeover. The runners-up – Maru Mayur Bhai and Pravesh Kumar Rawat, in both the categories were awarded a bike and insurance cover of one year for a family of four.

Mechanic Kalka Prasad, the winner of Castrol Super Mechanic Contest 2021-22 in the car category, said: “I am thrilled and at a loss of words! What Castrol India has done and continues to do for our mechanic community is truly worth appreciating. This contest has helped us be recognized across the country and has brought new-found respect to our profession at large. The experience, exposure, and skills I have gained through training and skill development are invaluable. Castrol Super Mechanic will help create long-term sustainable development of mechanics across India and help achieve social upliftment. I am eager to make use of all that I have learned for my future and hope to share my knowledge and expertise with fellow mechanics.”

Yamaha MT-15 Version 2.0 Gets Livelier With The Evolution Of MT DNA

-          New Yamaha MT-15 Version 2.0 Price start from Rs. 1,59,900 (Ex-Showroom, Delhi)

-          Gets Inverted Front Fork, Aluminium Swing Arm and New Digital Instrument console with Bluetooth Y-Connect App

-          Gets new colours and graphics inspired by the international MT Series.

India Yamaha Motor (IYM) Pvt Ltd. as a part of its zealous brand strategy ‘The Call of the Blue’, launched the evolved and refreshing Version 2.0 of its popular MT-15 model in India, with a host of new features.

The new MT-15 Version 2.0 features an inverted front fork with 37mm inner tubes, wherein the lower end (un-sprung) is light, and the upper end (sprung) has thick outer tubes bolted to the chassis for higher rigidity. The box-section swingarm is also replaced with a MotoGP inspired Aluminium swingarm. This makes for improved stability in corners and under hard braking, pushing the boundaries of agility by enhancing the rider control. The MT-15 Version 2.0 weighs just 139kgs and features Yamaha’s patented Delta Box frame, that gives it the edge in terms of handling capabilities.

The MT-15 Version 2.0 is powered by a liquid-cooled, 4-stroke, SOHC, 4-valve, 155cc fuel-injected engine with Variable Valve Actuation (VVA) system. The MT-15 Version 2.0 also features a slick shifting 6-speed gearbox that is mated with an Assist and Slip clutch for lighter actuation. The MT-15 Version 2.0 produces 18.4PS of peak power at 10,000rpm, with peak torque output of 14.1Nm at 7,500rpm.

In terms of electronics, the MT-15 Version 2.0 features a newly designed, fully digital LCD cluster that displays a customizable animated text (When ignition is turned on), along with a Gear Shift, Gear Position and VVA indicator. The LCD cluster also displays Call, E-mail and SMS Alerts along with Smartphone battery status available through the Bluetooth Enabled Y-Connect App. The App also offers information related to Maintenance Recommendations, Parking Location, Fuel Consumption, Malfunctions, Revs Dashboard and Ranking on the Smartphone.

Mr. Eishin Chihana, Chairman, Yamaha Motor India Group of Companies commented, “Yamaha Fans have always praised the MT-15 for its impeccable handling and performance but have been eagerly waiting for a more evolved version of the Dark Warrior. The launch of the new MT-15 Version 2.0 is a perfect representation of Yamaha being able to meet its customer expectations, as a part of its ongoing ‘The Call of the Blue’ brand strategy. We are confident that with the new set of features and technology, the MT-15 Version 2.0 will attract more young riders who are in search of a premium street-naked motorcycle that strikes the perfect balance between weekend rides and daily commuting needs.”

With the new updates, the MT-15 Version 2.0 comes across as the epitome of agile handling, exhilarating acceleration and futuristic design. The naked streetfighter continues to feature a Bi-Functional LED Headlight with LED Position Lights, high-raised LED Tail-light, Single Channel ABS with a 282mm (Front) and 220mm (Rear) disc brake, a super wide 140mm rear Radial tyre, and Side Stand with Engine Cut-off Switch.

On the design front, the MT-15 Version 2.0 continues to illustrate the impulsive MT style by offering freedom in the riding position and focusing on the design expression of 'Torque and Agility'. The fresh set of colours on the MT-15 Version 2.0 include Cyan Storm (new), Racing Blue (new), Ice Fluo-Vermillion and Metallic Black, these coupled with an edgier set of graphics further strengthens its aggressive style and sporty character.

The MT-15 Version 2.0 will be available across all the authorized Yamaha dealerships and its prices start from Rs. 1,59,900 (Ex-Showroom, Delhi).

VPBank Raises The Bar In Vietnam's Digital Transformation With iGTB Cash Platform From Intellect

* iGTB’s strategic partnership with VPBank will provide a fully-integrated, Cash & Payments Management platform to enhance corporate and SME customer’s experience and operational efficiency.

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence for two years in a row, today announced that Hanoi-headquartered VPBank has signed a major transformative deal to digitize and streamline its transaction banking offerings. For Intellect, this deal marks the tenth key digital banking transformation deal in Vietnam.

This digital transformation deal will boost VPBank’s digitization efforts of its transaction banking function which in turn will enhance the country’s digital economy which is aligned with the “Vietnam National Digital Transformation Roadmap 2025”. This will bring the bank closer to the goal of being the most customer-friendly bank through technology in 2022 with disruptive iGTB’s products and services for its corporate, commercial and SME clients. 

According to VPBank CEO, Mr Nguyen Duc Vinh, “VPBank has always been a pioneer in selecting the most up-to-date technology to power accelerated digital transformation. Strengthening our IT Infrastructure to enable and automate digital strategy is our key to improving productivity by 20-30% in order that we stay ahead of the competition. This is why harnessing disruptive digital IT initiatives is currently a major priority for us.”

“Partnering with iGTB, VPBank will continue to improve customer experience and expand the business ecosystem through a new and efficient digital technology, which will transform our cash management. Armed with this iGTB and VPBank solution, we are set to increase significantly the competitive edge for the bank and retain our leadership position as the preferred bank of choice for both SME and for corporate customers.” 

According to iGTB CEO, Mr Manish Maakan, “I am proud that this latest VPBank deal transformation deepens Intellect’s portfolio to a dominant position in Vietnam. Our investments into iGTB Cash Cloud and iColumbus.ai platforms are the keys to a faster go-to-market, so that our client portfolios across APAC, Middle East, Europe and Americas can realize early returns on their technology investments. Our simultaneous market-depth strategy is a result of years of investment into local Vietnamese regulations & payment systems, backed by iGTB’s local relationship managers & delivery teams out of Hanoi, and our longstanding partnership with Vietnamese FPT Information Services.”

Mr Maakan added, “Vietnam’s corporates and SMEs are demanding digital financial solutions, and the Vietnam banking industry is rising to the challenge powered by iGTB’s latest digital banking platforms. This partnership powered by iGTB's global expertise in transaction banking technology will help VPBank achieve its goal of becoming the most customer-friendly technology-driven bank and the most valuable bank in Vietnam.”

This transformative cash management platform delivers a seamless customer experience with a completely digital integrated transaction banking suite of iGTB’s Cash Management, Trade Finance, Payments, Account Services, Collections and Liquidity Management powered by the award-winning front-end Contextual Banking Experience (CBX) platform with the ability to deploy new customers quickly, handle large volumes of transactions, improve operational efficiency and help reduce complexity and cost. 

Key Highlights

Seamless customer experience through digital transformation of VPBank’s cash management system: With a focus on Cash Management which includes Liquidity Management, Account Services, Payments and Collections along with Trade Finance channel services to corporate & commercial clients, the bank would be enabled to provide seamless customer experience and exceed business critical banking requirements which would help to retain the leadership position in the region.

Customer centric front-to-back omni-channel CBX solution: The single instance, fully integrated omni-channel Contextual Banking eXperience (CBX) will provide real-time insights and analytics through visual dashboards which will enable VPBank to enhance operational efficiencies by eliminating manual processes and will be a key differentiating factor for the Bank’s corporate customers.

Single vendor integrated platform for operational excellence: A single vendor integrated cash management platform will bring in process optimization, higher automation and STP capabilities for payments processing with high performance technology. This ensures improved operational efficiency through centralization of functions and rapid issue resolution which lowers TCO and results in less expensive upgrade and maintenance costs in future. 

Customer acquisition and retention at the center of cross-selling and up-sell strategy through technology: With this streamlined integration model, VPBank will be enabled to move ahead of the competition by adopting the latest technology to respond to the ever-changing dynamic market conditions through pre-configuration. This would enable the bank to increase the wallet share and maximize fee-based revenue.

Local market ready with deep expertise in the region: iGTB’s intimate knowledge of the Vietnamese market is reflected with boots-on-the-ground local relationship managers and delivery teams based out of Hanoi. The partnership with local vendor FTP will further enhance the implementation and deployment. 

Faster go-to-market with advanced product configurations: The platform enables modules to be quickly stitched together for developing a comprehensive solution, thus allowing the VP Bank to get a quick return on their investments. As a result, products can be quickly launched to offer value added services to the bank’s customers.  

MedGenome Launches VarMiner, A ML Based Analysis Software To Detect Genetic Variants For Rare Diseases And Inherited Cancers

* The software can accurately predict and rank a pathogenic variant in 90% of rare diseases cases with no or minimum manual intervention

To improve diagnostic results in South Asia, MedGenome Labs, South Asia’s leading genomics research and diagnostics company, has developed and launched VarMiner, an AI-enabled powerful variant interpretation software suite. This proprietary software will help clinicians, molecular geneticists, and Genome analysts to interpret and report actionable variants.

India has an estimated 72 to 96 million people affected by rare diseases. As the lack of awareness is the biggest hindrance, it faces towards research done on these diseases and consequently the treatment, the first step towards understanding rare diseases should be the diagnosis. Rare diseases have mostly been proven to be genetic and can be diagnosed via genomic testing. VarMiner is powered by unique proprietary tools and databases to provide deeper insights into genetics with extreme accuracy and efficiency.

Dr Ravi Gupta, Vice President of Bioinformatics, MedGenome Labs, said, “Identifying the causal variant(s) in a patient with a rare disorder is like pointing out a needle in a haystack. MedGenome has developed an ML-powered software, “VarMiner”, to identify the disease-causing variants rapidly and accurately from next-generation sequenced data. Our solution streamlines the complex clinical report generation process and thus enables the diagnostics labs in India and globally to scale up the diagnostic reporting. With our validated solution on a large number of clinical samples, we believe it will further improve the diagnosis rate of rare Mendelian disorders, which has been a challenge in this field.” 

VarMiner supports various NGS Dx workflows

Germline Analysis - Covers all rare diseases, inherited cancers, Mitochondrial genome analysis, PGx and HLA analysis

Carrier/TRIO Analysis - Combined Analysis of familial samples to detect De-novo and common inherited variants and reporting

Somatic Analysis - Comprehensive analysis of cancer genomes with support for Liquid Biopsy, Hematology and Solid tumour cases

Commenting on the launch, Dr Vedam Ramprasad, CEO, MedGenome Labs, said, “Decoding genetic information is the core of everything we do. Today, we are immensely proud to launch this ML-enabled variant interpretation software suite, with which we can move towards a healthcare system more rooted in prevention rather than just treatment. We truly believe that VarMiner can help Molecular diagnostics labs in India and globally analyse and automate their NGS reports. While this is an initial version with high specificity, we are working on the next version that increase the algorithm’s sensitivity too.”

VarMiner is an efficient tool for detecting genomic variants in all rare diseases, inherited cancers, as well as for conducting mitochondrial genome analysis, PGx and HLA analysis. It offers out-of-box clinically validated analysis workflows for germline, somatic and pre-natal NGS tests. Some of the key features that enable the core analysis are the ML-ranking of causal variants, Symptoms and phenotype-based variant mapper, automated ACMG Classification, sample-variant quality metrics and advanced annotations.

About MedGenome

MedGenome is a genomics?driven research and diagnostics company with a mission to improve global health by decoding the genetic information contained in an individual's genome. Its unique access to genomics data with clinical and phenotypic data provides insights into complex diseases at the genetic and molecular level to facilitate research in personalized healthcare. MedGenome is the market leader for genetic diagnostic testing in India.

AI Powered Interior’s Marketplace YOUKRAFT Secures Commitment Of $10 Million In Seed Funding

Bangalore based YOUKRAFT, has secured a commitment of $10 million in seed funding from the Goel Family Office including Manav Goel (Founder and CEO of YOUKRAFT). The recently launched app will be an online marketplace exclusively catering to the construction and interiors industry.

YOUKRAFT is founded by Manav Goel to solve the on-ground challenges contractors face and to digitize the interiors market with technology to facilitate ease of transaction. He is currently transitioning from his role as the Managing Director of WOODKRAFT where he has led the company’s growth to become India’s leading corporate interiors fit-out company.  WOODKRAFT has successfully delivered over 600 projects spanning more than 75 million sq ft. in 28 cities in India, has offices in 9 cities, and a base of 7000+ skilled workforce. The company’s global corporate clientele includes many of the Fortune 500 companies. WOODKRAFT is on track to deliver over Rs 1,000+ crores in sales in the current financial year. This represents a significant growth (65%+) over last year.

“We are delighted to have secured the funds we need to support YOUKRAFT during this crucial early stage of our growth,” said Manav Goel, founder and CEO of YOUKRAFT. “We seek to bridge the gaps in India’s interior and construction industry by providing a unified technology platform where homeowners, interior designers and contractors can easily obtain the best products at the best prices delivered to their doorstep.”

The idea behind YOUKRAFT was conceived in 2021 to address the key logistical and transparency issues plaguing the interiors and construction industry. It was designed as a single unified platform that would connect homeowners, contractors, designers, architects, technicians, and other stakeholders in the industry. The technology was designed and developed in-house in just four months and relies on an advanced AI/ML algorithm that matches customers to the most appropriate product recommendations. Within the same four months, the platform also succeeded in listing over 20k+ SKUs offered by 100+ leading brands across key verticals. 

YOUKRAFT has been co-founded by a strong and diverse leadership team with domain expertise in E-Commerce, Technology, Marketing, Finance and Supply Chain. The core team also includes Torun Mathias (Credit Suisse), Rajib Saha (Flipkart), Anita Devraj Mookerjee (AJIO), Alok Saraf (Grant Thornton), Mukund Gandlur (Illude) and Sumit Gupta (Metro Cash and Carry). Their team strength has expanded from four to 90 people in just four months, and is growing.

Technology is at the heart of Youkraft, and they have developed in-house solutions to some of the hardest problems in ecommerce. “Our ML engine has been designed to use large amounts of publicly available price data across millions of products to create an insightful pricing engine that offers tailored recommendations based on user buying patterns, while suggesting ways to save on future purchases. We do this by creating customized discount offers, group buying, bulk discounting on their most bought products and showing them other products of similar quality but at a lower cost.” said Manav.

The platform eliminates hassles of sourcing, procurement and delivery, thus enabling the contractors to focus on their core expertise and grow their business.  The platform also employs distance, shipping cost and logistics reliability as key metrics to identify the most affordable and efficient shipping method.

Manav adds that the construction and interiors market is currently ripe for an ecommerce solution. “Digital payments have become the norm, and there are several digital-first logistics partners enabling easy shipping and fulfillment across India. Moreover, with the increasing urbanization of Tier-II and Tier-III cities, the demand for quality homes and commercial spaces is on the rise. This is a green-field opportunity for YOUKRAFT to unify the market and take the hassle out of the homeowning experience,” he says.

The YOUKRAFT app will be released in Bangalore first, and Manav is optimistic that their go-to-market speed will help them become a pan-India brand by end 2022/ early 2023. “We also plan to support our online platform with flagship omnichannel stores in the near future,” says Manav.

About the company

YOUKRAFT is an ecommerce marketplace that seeks to address key challenges in the interiors/construction industry through digitization. Their goal is to provide customers across India with any-time access to the best brands and contractors at affordable rates. YOUKRAFT consolidates brands across 25+ key industry verticals to provide a one-stop solution for homeowners, designers and architects.