Archives August 2023

Mumbai,2nd August 2023 TVS Industrial & Logistics Parks Pvt. Ltd (TVS ILP), a leading logistics infrastructure and warehousing company and part of the esteemed TVS Mobility Group, has strengthened its partnership with NIIF Infrastructure Finance Limited (NIIF IFL), bringing the total amount of facilities obtained to nearly USD 100 million.

Both institutions are well-known for their ESG (environmental, social, and governance) focuses and their commitment to sustainable development. The continued partnership exemplifies the shared determination to drive sustainable infrastructure development, thereby fostering long-term economic growth in the warehouse and industrial park sector. Capitalizing on this partnership, TVS ILP aims to accelerate its growth trajectory, with plans to double its portfolio to 20 million sq ft in the coming years with an investment of approximately USD 400 million.

Mr. Nitin Aggarwal, President, TVS ILP, “This investment solidifies TVS ILP’s position as a leading player in the warehousing and industrial park segment. Our goal is to become the most trusted industry leader in providing integrated infrastructure solutions that meet the highest standards of quality, functionality, and environmental responsibility. The additional funds empower us to enhance our sustainability efforts, and we will look forward to continuing association with NIIF IFL.”

Mr. Shiva Rajaraman, CEO, NIIF IFL, “We are pleased to have collaborated with TVS ILP, an organization that shares our vision of promoting quality infrastructure throughout India with a strong emphasis on environmentally conscious practices. This collaboration will be a first step towards helping India’s green infrastructure journey.”

The collaboration between TVS ILP and NIIF IFL will accelerate the deployment of innovative and financially viable solutions that address India’s infrastructure needs while minimizing environmental impact. It exemplifies TVS ILP’s dedication to green warehousing and its role in driving industry innovation and progress.

TVS ILP’s unwavering focus on sustainability and its dedication to delivering integrated infrastructure solutions position the company at the forefront of innovation and progress in the warehousing industry.

New Delhi,2nd August 2023: Toprankers, India’s distinguished digital learning platform, continues to make headlines with its students’ remarkable achievements. In the recently announced IPMAT Indore 2023 results, several Toprankers students have secured outstanding ranks, including AIR 3, AIR 5, and AIR 7, exhibiting their brilliance and dedication in the competitive exam.

Supergrass by Toprankers prepares students for management and central university examinations. Under its management wing, various comprehensive learning courses are designed to cater to a wide range of top institutes across the country, including the five IIMs and other prominent institutes like NALSAR, NIRMA and TAPMI.

IPMAT Indore (Integrated Program in Management Aptitude Test) is a preeminent entrance exam conducted by the Indian Institute of Management (IIM) in Indore. It paves the way for admission into the five-year Integrated Program in Management, a prestigious academic pursuit incorporating intensive management education with undergraduate studies.

”The exceptional results in IPMAT Indore are a reflection of the hard work of our deserving students and highly proficient team. Toprankers has always been a leading force in transforming students’ dreams into reality by empowering them to excel in diverse competitive exams. As we commemorate these achievements, we look forward to inspiring more students to foster a brighter future together,’’ said Mr Gaurav Goel, CEO and Co-Founder of Toprankers.

Among the high-achievers, Pradhuman Agarwal, achieved an exceptional feat by securing AIR 3 in IPMAT, followed by Harshvardhan Nema and Harshdeo Waghmare, who secured AIR 5 each. In addition, Hirday Khandelwal and Eklavya Aggarwal jointly secured AIR 7 in the exam.

Sharing his excitement about the remarkable achievement, Pradhuman Agarwal said, “I am incredibly thankful for the valuable support and guidance from Toprankers during my preparation journey. The platform’s distinctive approach to simplifying complex topics via engaging videos has been instrumental in my understanding and retention of crucial concepts. Moreover, their extensive mock tests, practice sessions, and detailed test explanation sessions substantially aided my success. I will always be grateful for the transformative role Toprankers played in helping me accomplish my goals.’’

Toprankers also witnessed phenomenal results in IPMAT Rohtak, with over 30 students acing the exam from across the country whereas 650+ students achieved 100 percentiles in CUET UG 2023.

Bangalore, India and Mahwah, New Jersey,2nd August 2023: Glenmark Pharmaceuticals Ltd. (Glenmark), a research-led, integrated, global pharmaceutical company has received final approval by the United States Food & Drug Administration (U.S. FDA) for Saxagliptin Tablets, 2.5 mg and 5 mg, the generic version of Onglyza®1 Tablets, 2.5 mg and 5 mg, of AstraZeneca AB. Glenmark’s Saxagliptin Tablets, 2.5 mg and 5 mg, will be distributed in the U.S. by Glenmark Pharmaceuticals Inc., USA.

According to IQVIATM sales data for the 12-month period ending June 2023, the Onglyza® Tablets, 2.5 mg and 5 mg market2 achieved annual sales of approximately $100.7 million*.

Glenmark’s current portfolio consists of 184 products authorized for distribution in the U.S. marketplace and 49 ANDA’s pending approval with the U.S. FDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

Mumbai, 2nd August 2023Teva Pharmaceutical Industries Ltd., a leading generic pharmaceutical company, (NYSE and TASE: TEVA) announced today that it is working with Honeywell (NASDAQ: HON) to help reduce energy consumption and carbon emissions at its Debrecen, Hungary, manufacturing facility.

Teva will leverage Honeywell’s ‘Energy as a Service’ (EaaS) model, enabling it to deploy energy improvement upgrades without making a major capital investment. The efforts will support Teva in furthering its environmental, social, and governance goals and minimize its impact on the environment.

Under the EaaS contract, Honeywell will establish a three-year energy performance baseline for the Debrecen facility and determine what building assets are driving the site’s energy consumption. Using Ready-now solutions such as Honeywell Forge Sustainability+ for Buildings | Carbon and Energy Management and submetering tools, Honeywell will enable continuous collection of energy use data at the device and asset level. Using this data, Honeywell will work with Teva to develop a plan to help reduce energy use while maintaining an ideal occupant experience.

“Reducing our carbon impact is not just a commitment, it’s a responsibility,” said Gary Baker, general manager, Teva Active Pharmaceutical Ingredients, Hungary. “At Teva, environmental sustainability ranks high on our agenda, and our recently launched 2022 ESG Progress Report showcases our strategic approach and priority topics, among others minimizing our environmental footprint. We reduced our absolute scope 1 and 2 greenhouse gas emissions by 24% (vs. 2019), putting us ahead of schedule to meet our 2025 target (25% reduction), and we reduced our absolute scope 3 GHG emissions by 12% (vs. 2020). This project will further support our efforts to lessen the impact we have on the environment.”

The urgency of building better energy management is paramount. Commercial buildings and construction accounted for 37% of global energy- and process-related carbon dioxide emissions and more than 34% of energy demand globally 2011.

“Despite the prioritization of sustainability efforts, managing costs is often a factor. Using an EaaS model, companies now have the opportunity to make significant energy improvement updates without significant capital outlay, meaning they can invest in other priorities while also reducing the environmental impact of their buildings,” said Evangelos Alepochoritis, European leader for energy and sustainability, Honeywell. “Leaders of large multinational companies such as Teva recognize that sustainability is now key to their success – and that the energy efficiency of the buildings they own or lease is a strategic business priority as well as an environmental imperative.”

Honeywell’s EaaS approach can help customers meet their sustainability goals by implementing a variety of upgrades throughout a building to help reduce energy use. Honeywell is also creating an ecosystem of third-party solutions and complementary services to further help customers reduce energy consumption in their buildings.

[2nd August 2023– Mumbai] – ASICS India today launched the new GEL-KAYANO™ 30 running shoe, featuring brand new adaptive technology to provide runners with exceptional stability and unprecedented comfort for the full duration of a run – from the first stride, until the last. The landmark 30th iteration of the iconic GEL-KAYANO™ series is the result of ASICS Design Philosophy. This unique approach embodies ASICS’ long-standing commitment to rigorous user testing, biomechanical science, sustainability, and decades of continuous innovation to create products that feel best for both body and mind.

GEL-KAYANO™ 30 reimagines the level of comfort that can be achieved in a stability shoe through the inclusion of new 4D GUIDANCE SYSTEM™ technology that supports runners by adapting to pronation changes over the course of a run caused by fatigue. Instead of bracing the feet to restrict movement, the 4D GUIDANCE SYSTEMTM features an integrated design that works with movement of the body to continue providing optimum stability and enhanced comfort when a runner needs it most. GEL-KAYANO™ 30 has also been specially developed to deliver softer landings thanks to its new PureGEL™ technology, providing increased shock absorption and smoother transitions for the runner. In addition, the shoe features improved comfort and speed through a combination of lightweight FF BLAST™ PLUS ECO cushioning, and an increased 4mm in stack height.

The result of all these advancements is a shoe so comfortable it barely feels like a stability shoe at all. In a test conducted by ASICS Institute of Sport Science in Kobe the GEL-KAYANO™ 30 delivers significant improvements in comfort to its predecessor. Testers also experienced that the shoe was even more comfortable after long runs than when they first put them on.

Rajat Khurana, Managing Director, ASICS India and South Asia, said, “We, at ASICS, have tirelessly pursued our unshakable belief in design and delivering exceptional products. The journey to create GEL-KAYANO™ 30, with reliable stability and elevated comfort, has been a labor of passion. Thrilled with the results, we anticipate the positive impact it’ll bring to runners. The GEL-KAYANO™ series has been a favorite among runners seeking superior performance. We take immense pride in this landmark development where advanced stability, comfort, and reduced weight converge, surpassing all expectations. We are positive runners will highly benefit from all the new design and find stability in their runs like never before.”

The new GEL-KAYANO™ 30 will be widely available in many markets to buy in-store and online at asics.com/in starting in July 2023 with an RRP of 15,999/-. Runners when considering the product will benefit for the first time from ASICS labeling the shoe with its total amount of CO2e emissions emitted across its lifecycle, enabling consumers to make an informed purchase decision when it comes to the shoe’s environmental impact.

India, 2nd August 2023: NLB Healthcare, the healthcare subsidiary of NLB Services –leading global technology and digital talent solutions provider, today announced its strategic partnership with Nursing Norway AS, a part of the Focus Care Group and a market leader in the supply of healthcare personnel to the Norwegian healthcare system, and World Trade Center Pune India, an affiliate of the World Trade Centers Association (WTCA), a global network spread across 330 cities in 130 countries that foster international trade, to recruit train and deploy medical nurses from India to be employed in the Norway healthcare system.

Norway has one of the toughest criteria for recruiting working professionals outside the EU. This tri-partite partnership is the first industrial recruitment process being undertaken with an Asian country outside Europe.

The partnership seeks to establish a steady flow of talent to the Focus Care group of companies and also directly to Norwegian municipalities. By tapping the huge potential of the Indian healthcare workforce, this partnership is taking a giant leap in the right direction. The goal is to recruit 3000 nurses to the Norwegian market over the next 5 years.

Speaking on the strategic importance of this partnership Tommy Andre Iverson, CEO, Nursing Norway AS said, “We are creating a unique pathway for Indian nurses to gain full authorization to work in Europe and address the pressing challenge of nurse shortages in Norway. We have been impressed with Indian education standards and the quality of Indian nurses is more than adequate to meet the needs of the Norwegian healthcare system.”

Varun Sachdeva, SVP & APAC Head, NLB Services added, “At NLB Services, our purpose is to Bridge the Gap and we are well aware of the talent crunch for healthcare workers across the EU. This partnership is of strategic importance because it helps create new avenues and expand the talent ecosystem at the root level. While these are initial steps in the direction, we are sure that they will significantly address the gap in times to come”

Elaborating on World Trade Center’s role in facilitating this partnership Niraj Khinvasara, Chief Innovation Officer, World Trade Center Pune said, “We are very excited about this partnership. After the pandemic, we’ve seen a gap in skill-based labour especially in healthcare in many parts of the world. Programs like this will help ease the situation and contribute to the healthcare segment globally.”

The partnership will be a great platform to establish NLB Healthcare as a market leader in healthcare recruitment and set the stage for the program’s second phase, with ambitions to expand its reach to Europe and the rest of the world.

New Delhi, 2nd August 2023: The ‘Bharat ke Anmol’ award ceremony, a prestigious initiative that aims to empower visionaries and encourage innovators, was held on Monday, 31st July 2023, at the Ambedkar International Centre, Janpath New Delhi. The event served as a symbol of acknowledgment and appreciation for individuals and organizations that have made significant contributions to society, culture, arts, sciences, entrepreneurship, and beyond.

During the mega ceremony, numerous individuals and organizations who have played vital roles in shaping the nation were felicitated. This included unsung heroes from various fields, such as kalakars whose meaningful work was forgotten, sports personalities who uplifted the pride of Hindustan, classical dancers dedicated to Nataraja, and academicians sculpting the lives of achievers. The ceremony also recognized the less privileged who overcame poverty to reach the pinnacle and the underrated scientific fraternity whose inventions made a distinct impact on the country’s progress.

Among the eminent personalities honored were Padmasree Dr. Vijay Kumar Shah, Smt. Sunita Duggal MP Haryana, and Sri. Ponguleti Sudhakar Reddy, Sril. Sri Krishna Devarayalu, Dr. T.S. Rao (Father of Vaccines), and Dr. S.M. Khan (Director General, Door Darshan). ‘Bharat ke Anmol’ identified the forgotten names that deserved recognition and appreciation for their invaluable contributions to society.

The initiative, ‘Bharat Ke Anmol,’ was born out of the brainchild of Dr. Mohammad Nizamuddin, along with a group of like-minded individuals who sought to pay respect to the precious gems of India across various sectors. Dr. Venkata K Ganjam, Founder and CEO of GKPR media house, played a pivotal role in conceptualizing the project, aiming to celebrate the dedication and service of remarkable individuals and organizations.

Commenting on the significance of ‘Bharat ke Anmol,’ Dr. Nizamuddin remarked, “This event commemorates the heroes of our country who have been of immense service. It is an opportunity to honor their deep dedication and etch their names in history forever.” Dr. Venkata K Ganjam expressed his pleasure in being part of this prestigious award-giving ceremony, stating, “We hope to salute all those individuals and organizations who have made our country proud through their exceptional contributions.”

The ceremony was graced by esteemed guests, including the guest of honor, Rajmani Patel, Member of Parliament (Rajya Sabha), who highlighted the collective efforts of individuals in driving the country’s progress. Dr. Blossom Kochhar, another chief guest, emphasized the power of ideas and the transformative impact that noble causes can have on society.

The ‘Bharat ke Anmol’ award ceremony was made possible by the support of esteemed sponsors, Whitsunday Resorts, and Sanali Builders, with gracious support from The News . You Like Maa Foundation, and Nation First as courtesy partners. Ethos Imagination, the digital marketing partner, and creative agencies Blue Eye Communications and Pi Tronix played pivotal roles in making this event a celebration of excellence and inspiration.

With the ‘Bharat ke Anmol’ initiative, together, we honored unsung heroes and visionaries across various fields, empowering and encouraging greatness in our nation.

2nd August 2023Brace yourselves for a groundbreaking leap in smartphone technology as TECNO proudly introduces the POVA 5 Series, a true testament to the brand’s passion for innovation. The POVA 5 Series boasts top-class performance and lightning-fast charging, and its pièce de résistance is undeniably the industry-first 3D Texture Arc Interface, a cyber-inspired marvel that will ignite your digital emotions.

TECNO’s commitment to pushing the boundaries of design and functionality is evident with the POVA 5 Series. The 3D Texture Arc Interface takes inspiration from the cyber world, weaving together art and technology to deliver an unparalleled user experience. It’s not just a smartphone interface; it’s a portal to a digital dimension where your every notification, calls, and music becomes an exhilarating journey with the new RGB light experience.

Colors come alive with an RGB gamut ARC Interface, reflecting the diverse passions and uniqueness of each user. The cyber-inspired elements evoke a sense of adventure and exploration, encouraging users to stay young at heart and embrace their digital passions to the fullest.

The star of the series, the POVA 5 Pro 5G, stands tall as a true disruptor, delivering power, speed, and enhanced capabilities that cater to the pace of India’s dynamic Gen Z elite. For those who work hard and play even harder, the POVA 5 Pro 5G is the perfect companion to fuel their ambitions and keep them ahead in the game of life.

Moreover, the POVA 5 Series ensures that you never have to worry about running out of battery power again. With lightning-fast charging technology in the segment, you can stay connected and productive throughout the day, effortlessly juggling work and play.

The Hype and anticipation for the POVA 5 Series is soaring, and you won’t want to miss the chance to be part of this digital revolution. Head to Amazon and register now to be among the first to experience the future of smartphones.Stay Young, Stay Passionate – Embrace the Digi Emotion and Let TECNO POVA 5 Series be Your Guide!

Bangalore2nd August 2023: Mahindra Holidays & Resorts India Ltd. (‘Company’), India’s leading leisure hospitality provider, reported its standalone and consolidated financials for the first quarter ending 30th June 2023.

Operational Highlights (Standalone) – Q1 FY24

Member Additions

• Member additions at 4696 are up by 23% YoY
• Membership Sales Value² at Rs. 177 Crs. up by 21% YoY
• Highest ever Q1 Upgrades at Rs. 49 Crs. up by 16% YoY

• Cumulative member base grows to 2,86,039, with 85% of the member base fully paid

Resorts/Room Inventory

• Resort Occupancy of 90% (vs 89% last year)
• Acquisition of 72 keys resort in Jaipur completed & construction of a greenfield, 236 keys resort started in Ganpatipule (Maharashtra)
• Inventory base grows to 5,005 keys in 102 resorts.

Note:  1. Please refer Table “MHRIL Standalone one-offs. 2. Membership value includes Upgrades

 Standalone Financial Highlights –

Q1 FY24 (excl. one-offs¹)

• Highest Ever Total Income at Rs. 355 Crs. (+17% YoY)
• Highest Ever Resort Income at Rs.92 Crs. (+10% YoY)
• Highest Ever EBITDA at Rs. 101 Crs. (+19% YoY); EBITDA Margin at 28.3%
• Highest Ever PBT (first quarter) at Rs. 55 Crs. (+19% YoY); PBT Margin at 15.4%
• Cash Position at Rs. 1136 Crs. as on 30th June’23.

Note: 1. Refer Table “MHRIL Standalone one-offs” for details

 Consolidated Financial Highlights –

Q1 FY24 (excl. one-offs³)

• Total Income at Rs. 646.9 Crs.
• EBITDA at Rs. 120.4 Crs. EBITDA Margin at 18.6%.
• PBT at Rs. 7.6 Crs.

Note: 3-Refer Table “Consolidated MHRIL one-offs”

Commenting on the performance, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd., said, “90%+ occupancy on an expanded inventory base of ~5,000 rooms has helped us achieve the highest ever Resort Income this quarter. Member additions are up by 23% over the same period last year. We continue to work towards our strategic objective of rapidly expanding our room inventory in line with our growing member base while adding new immersive experiences at our resorts.”

Commenting on the European operations, he added, “Despite the ongoing geopolitical crisis which has raised the inflation levels & interest rates, timeshare business has performed well. However, Spa hotels were affected by lower occupancies, Q1 traditionally being a low-season quarter. The holiday season has started well from mid-June onwards, and Q2 performance is expected to be better.”

 MHRIL Standalone (Under Indian Accounting Standards)

Note: Refer Table “MHRIL Standalone one-offs”

Holiday Club Resorts, Oy (Under Finnish GAAP)

MHRIL Consolidated (Under Indian Accounting Standards)

Note: Refer Table “MHRIL Consolidated One-offs”

MHRIL Standalone One-offs

MHRIL Consolidated One-offs

Bangalore, 2nd August 2023 – Toyota Kirloskar Motor (TKM) today reported its strongest cumulative sale ever by selling 21,911 units in July 2023. While the overall domestic sales stood at 20,759 units, exports accounted for 1152 units. This represents a steady growth of 10% compared to July 2022, where sales stood at 19,693 units. In June 2023, the company had sold 19,608 units thereby presenting month-to-month growth of 12%.

The company previously posted its best monthly wholesales in May’2023 by selling 20,410 units.

During the first seven months of CY 2023, TKM sold 1,24,282 units, reflecting a substantial increase of 31% compared to the same period in CY 2022, where sales stood at 94,710 units. The first four months of FY 2023 have witnessed a surge as well with sales of 77,439 units, marking a growth rate of 26% when compared to the corresponding period of FY 2022, which saw 61,506 units sold.

Mr. Atul Sood, Vice President of Sales, and Strategic Marketing at Toyota Kirloskar Motor, said, “The month of July has been tremendous for the company, we are thrilled to have recorded our highest wholesales ever by selling 21,911 units. We are witnessing an overwhelming response to our entire product range including Urban Cruiser Hyryder, Innova Hycross, Fortuner, Legender, New Innova Crysta Camry and a special mention goes to the versatile Hilux thus reflecting the utmost trust our valued customers place in us. The Cool New Glanza also continues to woo a fresher set of customer base for Toyota. Given the mid-year sales trend and the favorable demand sentiments, coupled with our increase in production by adding a third shift operation, we are confident of recording one of our strongest years in the country. We are also keenly looking forward to a good festive season and gearing up to meet the further surge in demand.

As a company, that aspires to create mobility for all with a deep rooted commitment to quality, innovation and respect for the planet, we strive to exceed customer expectations by setting new industry benchmarks. July was extra special to us, as we are honoured to have delivered the first-ever fleet of Hilux to the Indian Army, marking a momentous milestone for TKM. Being a customer focussed organization, we rolled-out the ‘Monsoon Campaign” in the month of July, to offer a wide range of exclusive benefits and maintenance offers to ensure safety and seamless driving season while elevating hassle-free ownership experience this monsoon season.”

Sales Performance:

 Overview of TKM

 Overview of TKM 1st Plant:

Overview of TKM 2nd Plant: