Archives April 2024

Mumbai, 22nd April 2024: Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell (NASDAQ: HON), in partnership with Foundation for Science, Innovation, and Development (FSID), Indian Institute of Science (IISc), renowned for its cutting-edge deep sciences research, has extended research and financial support to 37 Indian start-ups, extending capital worth INR 9 crores over the last four years. With an intensive focus on agri-tech, clean-tech, health-tech, and green-tech, Honeywell has extended funding worth INR 2.4 crores in FY23-24 to 8 start-ups and 5 entrepreneurship-in-residence programs (EIRs), and further plans to onboard 10 new start-ups in the current fiscal.

Through this collaboration, Honeywell provides seed funding and essential research support to start-ups in the realm of deep science focusing on addressing environmental, agricultural, and health challenges. Over the years, the synergy between Honeywell and IISc has been highly sought after by emerging start-ups as the partnership not only offers them seed capital but also extends access to state-of-the-art facilities, connects with industry stakeholders & government bodies, a global network of High Net Worth Individuals (HNIs), Angels, Venture Capitalists (VCs) as well as Micro, Small & Medium Enterprises (MSMEs) in India.

In FY23-24, Honeywell and IISc’s collaborative benefits were extended to health/med-tech companies like Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, Hoyasan Labs Pvt Ltd, Cellsion Technologies Pvt Ltd and Easescan MedTech Private Limited; and to agri-tech companies like Kaiza Tech and Green Collar Agritech; as well clean-tech start-up Mushloop Pvt Ltd.

“Honeywell has been at the forefront of automation, digitization, and sustainability over many decades. Our long-standing partnership with IISc is a testament to our commitment to bolstering local innovation and empowering emerging businesses in India. Our core focus is not just to extend financial support but also to encourage deep science/tech research which fuels the innovative prowess of these businesses. Over the past 4 years, we have worked with over 40 start-ups and will be onboarding another 10 in the upcoming financial year. Together, with IISc, we are cultivating a fertile ecosystem for these companies, making a tangible impact on society”, said Mr. Ashish Modi, President, of Honeywell India.

Prof B Gurumoorthy, Director of FSID and Professor at IISc has said that “Deep Science start-ups are characterized by long gestation periods, require significant upfront capital and access to world-class labs and sophisticated tools to take their innovation from lab to market. Honeywell has been an outstanding partner for us in this journey providing the much-needed capital and intellectual support to our entrepreneurs in furthering their journey. Jamsetji Tata remarked that “what advances a nation or a community is to lift up the best and the most gifted, so as to make them of the greatest service to the country.” The CSR support from Honeywell helps raise the ceiling for Deep Science start-ups.

This year’s start-ups range from 8 to 10 and around 3-5 entrepreneurship-in-residence programs will be supported.

An exemplary start-up supported by Honeywell and IISc is ‘AI Highway,’ offering cost-effective cardiac disease screening systems leveraging advanced signal processing and AI capabilities that can screen, detect, and predict cardio-respiratory disorders. This innovation holds the potential to alleviate the burden on cardiologists and address the significant shortage of professionals in India, estimated at over 84,000. Additionally, support to OpenWater.in, a start-up that provides wastewater treatment, used the grant to design and deploy a 25000 liters/day system at Mavallipura, a village about 20kms north of Bengaluru city. The quality of groundwater here is extremely poor due to solid waste on the landfill close to the village which led to contamination of the water sources. OpenWater has deployed a solution that treats contamination in groundwater.

Dfine Bio Innovations Pvt ltd is a Medtech start-up supported by a Honeywell grant. The start-up has developed an indigenously built hemostasis system named FibriTimer Zeta-1 (a first by any Indian Company). Zeta-1 uses the patented dual technology and helps clinicians understand the defects in humans for bleeding and thrombosis events. Zeta 1 is designed for professional use in clinical laboratory setups. The product is ISO-certified and approved by CDSCO and is a life-saving device. The product is priced significantly below available products in the market.

22nd April 2024: India, the world’s largest democracy, is gearing up for its grandest celebration of governance by the people – its Lok Sabha elections. The first leg kicks off, on April 19th. However, a concerning issue gripping the country: low voter turnout at the electoral process, prevalent among both urban and rural youth.

To address this issue, Zing, the popular youth entertainment channel from Zee Network, has launched the #NoBahanaDutyNibhana campaign. The modern life of today’s youth is characterized by a fast pace with numerous commitments such as work, family, social engagements, and personal pursuits. Dealing with the paucity of time is a multifaceted issue influenced by a combination of personal, societal, and environmental factors.

People often prioritize and schedule important life events in the process, but voting does not receive the same attention. Using the device “Time Nahi Hai” to highlight the crucial importance of making time to exercise your fundamental right as a citizen. Zing’s campaign urges viewers to prioritize voting and acts as a reminder to its viewers of the phased Lok Sabha election dates by directing them to the Election Commission of India website, leveraging its reach on TV and social media.

Additionally, Zing will also be engaging with the Youth on social media, through a series of activities to encourage voting and drive awareness using interactive polls, influencers, and informative content.

Your vote isn’t just your duty, it’s your responsibility. Let’s shape our future together. Go vote and let your voice be heard! #NoBahanaDutyNibhana #LokSabhaElections2024.

22nd April 2024 New Delhi: Makoons Play School, one of the leading preschool chains in India, commemorates Eid-al-Fitr across more than 200 branches with a keen focus on the cultural values associated with this festival.

Eid is one of the most significant festivals celebrated across the Muslim faith. It concludes Ramadan, which happens to be a month of stringent fasting, prayer, and observance. This month also cultivates a wide array of abstractions such as spirituality, ecstasy, communal harmony, charity, and cooperation. Moreover, Eid itself is a festival that is associated with such ornate cultural values as amity, peace, brotherhood, and worldly cooperation. These values differ across cultures and ethnicities, however, the core elements, that is, of peace and brotherhood, remain steadfast, throughout.

This year at Makoons, the little ones got engaged in several activities related to the festival, which simultaneously promoted a sense of cultural understanding in them. Some of these were the Drawing Competition, in which the little ones painted the letters ‘Eid Mubarak’ on their drawing sheets, the Dance Competition, where children expressed themselves on the songs related to the festival and the Fancy Dress Competition, in which the students dressed up in various colorful dresses and accessories, thus, signifying their happiness, and enthusiasm upon the coming of the festival. The theme of prayer, fasting, and observance was also displayed by the children through the performance of a small show that depicted these scenes. On the occasion, Makoons also organized a buffet for serving various delicacies related to the festival to the parents, students, as well as teachers. All of these activities were carried out in the respective school premises with the active coordination of the teachers and the participation of the parents.

Talking about the occasion, Mr. Vijay Kumar Agarwal, Founder and CEO of Makoons Play School expressed his delight and said, ‘We are glad to promote a multicultural understanding among our children through different cultural activities which we conduct from time to time. Its foremost advantage is that our children develop in a twofold way — academically, as well as, culturally — and both of these are essential for a culturally developed individual.’

Ours is a culturally diversified country. And for this reason, an individual cannot go on with having a firm knowledge about a particular culture, while overlooking others. Hence, it has become inexplicably essential for one, today, to have a wide understanding of all the major cultures and their traditions.

Mumbai, 22nd April 2024: Amazon miniTV, Amazon’s free video streaming service, recently released the third season of its beloved family drama series – TVF’s Yeh Meri Family. Set against the backdrop of 90s India, the heartwarming saga follows the life of the Awasthi family, as they navigate through the ups and downs of staying together. This season explores the universal themes of family bonding, togetherness, and sibling love, all narrated through the lens of 11-year-old Rishi. Starring Juhi Parmar, Rajesh Kumar, Anngad Raaj, and Hetal Gada in pivotal roles, Yeh Meri Family S3 has captivated audiences across the country, and it continues to receive praise from critics and audiences alike.

Actress Hetal Gada, who essays the role of Ritika Awasthi, a teenage girl and the elder sister of Rishi Awasthi in the series, shared her experience of working with her co-stars. She expressed, “Working with Juhi Ma’am, Rajesh Sir, and Anngad was an incredibly rewarding experience for me. The chemistry between the characters is crucial for our show, and fortunately, we have a great off-screen rapport, which not only helped enhance our scenes but also received much appreciation from everyone. Working alongside these talented actors has been nothing short of a blessing for me.”

Heaping praise on co-star Anngad Raaj, Hetal added, “Anngad is really smart, and he knows what he is doing. He is a proficient actor for his age. While working with him, you don’t realize that you’re working with someone so young. Since this was our second season together, the experience was even more special for all of us. During the first season, we were still getting to know each other. But by the time we started shooting for the second season, we had already become like a family. Overall, I had a fantastic time working with the entire cast and crew of the series”.

The new season of Yeh Meri Family is now available to stream exclusively on Amazon miniTV for free within Amazon’s shopping app, on Prime Video, Fire TV, and Smart TVs, or download the app from Play Store.

Mumbai – Talent Skill Education and Research Foundation (TSERF), a leading organization led by capital markets professionals, is proud to announce the launch of Certificate Program in Financial Markets with NSE Academy. This program will be exclusively available for the students enrolling for the flagship Post Graduate Diploma in Financial Markets and Analytics offered by Talent Skillsvarsity. The program includes hands-on experiential learning, sessions by market experts.

During, the launch of program Mr. Ambarish Datta, MD and CEO of TSERF said that the “Post Graduate Diploma in Financial Markets and Analytics is a multi-disciplinary program where students will gain deep understanding of financial markets and learn to harness the power of big data so as to make data driven decision in modern technologically advanced financial markets. The embedded certification program powered NSE Academy along with experiential learning will empower successful students of this program to be job ready on Day ‘0’ and hit ground running there by making them industry desired”.

Mumbai,22nd April 2024 Bharatsure, a leading Insurtech company, has partnered with Battery Smart, India’s largest and fastest-growing battery swapping network for electric two and three-wheelers, to provide health and accidental insurance coverage to 40,000+ drivers and station partners within its network. Top of Form

Under the insurance program, drivers and partners can avail of emergency treatment, medical hospitalization, and day-care treatments, among other benefits, as per the eligibility criteria outlined. Drivers and partners are also covered under the accidental insurance policy to avail of accidental OPD or lumpsum benefits in case of unfortunate incidents such as accidental fatality, hospitalization, and accidental permanent total and partial disablement.

As EV adoption continues to rise in India, particularly in the two and three-wheeler segment, which makes up about 95% of the Indian EV market, there is a significant increase in the numbers of gig workers and delivery drivers on the roads today. To prioritize the safety of its drivers and station partners, Battery Smart has undertaken several initiatives along with setting up a 24×7 support helpline and in-app reporting. The company provides practical training sessions on battery handling, charging guidelines, and emergency response. It also offers free EV health checkups, including thorough inspections of vehicles to proactively address any potential safety issues, reducing the risk of breakdowns or accidents.

Speaking on the occasion, Anuj Parekh, Co-founder & CEO, Bharatsure, said, “We are happy to partner with Battery Smart to tailor-make comprehensive programs to safeguard its growing community of EV drivers and station partners across India. The insurance coverage will provide users with essential financial security, while also encouraging timely access to healthcare when needed. We are proud to be associated with Battery Smart which has taken the step to provide such security to its partners.”

“Recognizing the need for well-rounded insurance to protect delivery drivers, gig workers, and small business owners, we look forward to working closely with Bharatsure. Its robust insurance policies will be instrumental in protecting our drivers and station partners, fostering confidence in the charge to switch to electric vehicles,” added Ankur Jhavery, business, Battery Smart.

This partnership not only provides a vital safety net for gig workers and delivery drivers but also represents a significant step towards fostering confidence in the transition to electric mobility. In 2023, Battery Smart strengthened its commitment by partnering with Zomato to organize a first-of-its-kind two-wheeler ‘EV Mela’ in Delhi to raise awareness about the positive impact of electric vehicles.

With India’s gig economy employing around 10-15 million people, many state governments are increasingly prioritizing accident, health insurance, and retirement benefits for gig workers. Battery Smart’s partnership with Bharatsure marks a pivotal point in India’s electric mobility industry, setting new standards for user safety and well-being.

New Delhi, 22nd April 2024 – Gallery West End, founded by Mr. Sumer Raj Chadha, a third-generation art collector and entrepreneur, is pleased to announce its upcoming art show, “Détente: A Haven of Artistic Rhapsody” show is set to debut at Travancore Palace, KG Marg, New Delhi, opening on May 1st, 2024, and will continue at Gallery West End from May 6th till 15th May 2024. The gallery, located in New Delhi, has established itself as a venue that showcases modern and contemporary, Indian and International art by master artists, as well as senior contemporary, and emerging artists.

‘Détente’ aspires to steward as a conduit for the spectators to traverse through the exhibit and experience a diverse array of artistic themes, where the fixtures and frames emanate with vibrant hues of creativity and echoes of diverse narratives. Each artist and their work reflects a unique perspective on evolution, the living world’s complexion, sum and substance, culture, societal constructs, social cloth, and beyond. Marvel at surreal landscapes that transport you to distant realms, creative interpretations on folklore, primal instincts, cultural heritage, personal and archival experiences, emotions, and the subconscious mind. Each of these influences offers immersive insights into the awe-inspiring macrocosm that is the creative universe. Here, reality merges with fantasy, inviting you to ponder the mysteries of the mind’s eye.

The exhibition offers interactive elements that enable the audience to directly engage with select artworks by the artists in focus. Invitees will not only have the opportunity to observe the artistic process up close but also have the choice to acquire the works to adorn their personal spaces, alongside the chance to interact directly with some of our guest artists.

Sumer Raj Chadha, the propelling founder of Gallery West End expresses “This exhibit is a tribute to a true art aficionado and a fervent connoisseur of beauty, our vanguard, late Santosh Raj Chadha, my beloved grandmother. She sowed the seed of love for art and has been a custodian of creative curiosity in our family. I endeavour to honour her legacy and to carry forward her ignited artistic discernments”

The exhibit unfolds as an immersive experience, inviting spectators to delve into realms of exploration, connection, and inspiration. Whether you’re a seasoned art enthusiast or appreciative of visual art and aesthetics, we warmly invite you to join us on May 1st at Gallery West End for an unparalleled journey into the depths of artistic wonder.

The exhibition will feature works by renowned master artists such as M F Hussain, S H Raza, G R Santosh, B Prabha, Satish Gujral, alongside senior contemporaries such as Manu Parekh, Lalu Prasad Shaw, M Narayan, Ashok Bhowmick and modern artists likeShyamal Mukherjee, Bahaar Dhawan Rohatgi, Anup Kumar Chand, Aditee Garg.

By Dhruv Mudaraddi, Research Analyst, StoxBox on Bajaj Auto Ltd. Q4 FY24 Result.

Bajaj Auto’s performance has been resilient, with robust domestic growth compensating for sluggish exports amidst global challenges. Notably, dynamic P&L management, product mix enhancements, and operational efficiencies have bolstered margins, especially with the successful integration of significant investments in electric scooters. Market share gains in the domestic segment, particularly in the 125cc+ segment, alongside strong export volumes and a surge in EV sales, underscore the company’s competitive strength. The commercial vehicle (CV) segment’s remarkable growth, propelled by BAJAJ RE and Maxima commanding an 80% market share in 3W, further strengthens its position. The success of the Chetak product range, driven by strategic innovation and network expansion, solidifies its foothold in the market. Looking ahead, the company is well-poised to capitalize on capacity expansion and the continued growth of the EV market. Moreover, with the anticipated IPOs of electric vehicle rivals Ola and Ather leading to sector re-rating, Bajaj Auto’s valuation multiples are likely to remain elevated, signaling a positive outlook for investors.

Bajaj Auto Ltd. Q4FY24 Result First Cut – Efficiency and sales mix led growth; Chetak poised well

• The company reported a revenue growth of 29.8% YoY / down 5.2% QoQ in Q4FY24, beating market expectations
• Revenue growth can be attributed to the robust revival in 2W demand, driven by the newer models, focus on customer engagement, a revival in exports (led by Triumph), and sustained growth in the 125 cc+ motorcycles segment.
• The overall domestic business witnessed a 28% YoY surge in volumes with robust annual growth in both two-wheelers and CVs of 10% and 32%, respectively. Overall, volume growth was at 24% YoY. Exports saw a recovery, rising 19% YoY.
• EBITDA stood at (up 34.3% YoY / up 5.1% QoQ) in Q4FY24, beating street estimates while EBITDA margin came in at 20.1% (up 80 bps YoY / up 2 bps QoQ) on a richer mix and favorable input costs.
• Net Profit for the quarter was up 35.1% YoY / down 27.7% QoQ. The PAT margin stood at 16.9% (up 77 bps YoY / down 523 bps QoQ).
• The company declared a dividend per share. The record date for the dividend is 14 June 2024.

By Dhruv Mudaraddi, Research Analyst, StoxBox

Reported revenue declined 2.3% QoQ / up 1.3% YoY in rupee terms due to missing market estimates owing to a challenging quarter primarily influenced by sustained weak demand, delays in the ramp-up of large deals, pricing challenges, and seasonal softness.

# EBIT slumped 4.3% QoQ and 3.2% YoY to , missing market expectations  The EBIT margin also contracted to 20.1% (down 41 bps QoQ / down 94 bps YoY) as better utilization rates and the absence of one-time costs were offset by weak growth and wage hikes in November 2023.

# Adj. Net income stood at Rs. 6,469 crores (up 5.8% QoQ / up 5.5% YoY), beating market estimates of Rs. 6,106 crores. The PAT margin inched down to 17% (up 131 bps QoQ / up 68 bps YoY).

# LTM attrition followed broader trends and declined 300bps to 12.6% in Q4FY24.

# Order book recorded for Q4FY24 stood at $4.5 billion and notably the large deal TCV was the highest ever for FY24 and stood at USD 17.7 billion.

# The company reduced its revenue growth guidance to 1-3% in CC terms in FY25 and EBIT margin guidance was maintained at 20-22%.

# The board of the company declared a final dividend of ₹20 per equity share for FY24. Along with this, the company announced a special dividend of ₹8 per share.

# The company has signed an agreement to acquire in-tech, a leading Engineering R&D services provider focused on the German automotive industry for EUR 450 million.

# Infosys reported a headcount of 317,240 employees as on March 31, 2024, with a net reduction of 5,423 employees in Q4FY24. Utilization ex-trainee improved by 80 bps QoQ to 83.5%.

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Infosys Ltd’s outlook appears cautiously optimistic despite recent challenges. The company’s weak topline and operating performance, attributed to factors like a one-time contract change with a large client, delays in deal ramp-ups, and pricing challenges, have been acknowledged. However, going forward, efforts to improve margins through large deal ramp-ups and Gen AI deployment indicate a strategic focus on growth and efficiency. While cautious spending in BFSI due to economic conditions poses a challenge, robust cloud adoption and growth in manufacturing sectors offer promising avenues. The significant proportion of new deals in the large deal TCV and a healthy deal pipeline signify potential for future growth. However, challenges in deal closures due to slower decision-making processes and furloughs warrant attention. Monitoring commentary on cost reduction initiatives, performance in the banking vertical, and outlook on client discretionary spending in CY24 will be crucial for assessing Infosys’ performance and trajectory in the coming quarters.

Bangalore, 22nd April 2024 : With Mercury in retrograde, making people more forgetful than ever, Uber today released the 2024 edition of its Lost and Found Index, a snapshot of the most frequently forgotten items, the most forgetful cities, as well as the days of the week and times of the year when Uber riders tend to be most forgetful.

Delhi bagged the title of the most forgetful city in the country for the second year in the running, even as Mumbai retained its second spot. Bangalore reclaimed its 3rd place from Hyderabad, which slipped to 4th as residents became more watchful about their belongings. Pune rounded up the top 5 most forgetful cities in the country. Backed by insights and data, Uber’s Lost and Found Index aims to educate riders in a fun yet informative manner about in-app options available to them at the tap of a button, in case they lose or forget something in their Uber during their trip.

Over the last year, objects including phones, bags, wallets, and clothing top the list of items left in Ubers across India, followed by utility items such as water bottles, keys, and accessories such as spectacles and jewelry. Indians also forgot unique things such as a Ukulele instrument, a coin collection, a prasad, and a hair trimmer. Riders also left behind important documents such as passports, bank and business papers in their Ubers.

Commenting on the Index, Nitish Bhushan, Head of Central Operations, said, “We’ve all been riders, and have had that moment where we suddenly realized we left behind a precious item or even a cherished belonging in a cab. With Uber, you have the option to attempt retrieving the lost item by simply following a few steps in the app. We understand the trust riders put in us each time they take an Uber ride, and we felt the time was opportune to provide a quick refresher course on how to retrieve lost items.”

Connecting the trends:

1. People are most likely to forget their belongings in an Uber on Saturdays
2. People tend to forget blue-coloured items the most in Uber, followed by red and pink
3. Evenings made people most forgetful, with most items left behind around 7 PM
4. Riders with Apple devices were most forgetful during the year gone by
5. People forgot most items in Uber last year during the festive days around Diwali

Below is the snapshot of insights from Uber Lost and Found Index India 2023:

Top 10 Most Commonly Forgotten Items

1. Phone
2. Laptop bags
3. Clothing
4. Keys
5. Headphones
6. Wallet
7. Spectacles/Sunglasses
8. Water Bottle
9. Jewelry
10. Watch

Top 5 Most ‘Forgetful’ Cities

1. Delhi
2. Mumbai
3. Bangalore
4. Hyderabad
5. Pune

Top 3 Most Forgetful Days of the Year

1. Nov 10
2. Nov 9
3. Nov 11

Top 3 Most Forgetful Days of the Week: The Weekend

1. Saturday
2. Friday
3. Sunday

The Most Forgetful Time of the Day for Indians: Evenings

1. 7 pm
2. 8 pm
3. 6 pm

Top 3 Colours of Forgotten Items

1. Blue
2. Red
3. Pink

Top 3 Phone Brands Left in Ubers

1. Apple
2. Samsung
3. Redmi

Top 5 Most Unique Lost Items

1. Ukulele instrument
2. Coin collection
3. Gate valve
4. Cornflakes
5. Prasad

Here’s a quick guide for riders looking for “Lost Items”:

● Tap on “Menu” icon

● Tap “Your Trips” and select the trip where you left something

● Tap “Report an issue with this trip”

● Tap “I lost an item”

● Tap “Contact my driver about a lost item”

● Scroll down and enter the phone number you would like to be contacted at. Tap submit

● If you lost your phone, enter a friend’s phone number instead

● Your phone will ring and connect you directly with your driver’s mobile number.

● If your driver picks up and confirms that your item has been found, coordinate a mutually convenient time and place to meet for its return to you

● If you are unable to connect with the driver, use ‘in-app support’ to report the loss, and Uber Support Team will step in to help you