Archives November 2024

Mumbai/Kolkata, 8th November’24: In commemoration of National Cancer Awareness Day, Medica Superspecialty Hospital, a leading healthcare provider in Kolkata, hosted an interesting panel discussion – ‘Focusing on the important role of NGOs in making modern cancer treatment more accessible to economically disadvantaged patients in private healthcare facilities’. Representatives of reputable NGOs such as Rotary, Fight Cancer, Cancer Fight Foundation, Jadavpur Pension Association, Gauri Bari Welfare, Cankids and Dinante joined the discussion as panelists, moderated by Prof. (Dr.) Subir Ganguly, Senior Consultant and Advisor in Radiation Oncology. A few of the cancer survivors were also present during the discussion.

This year’s National Cancer Awareness Day theme, “Prevention, Early Detection and Treatment,” emphasizes the need for vigilance to recognize early signs and accessible care. Financial barriers often prevent many people from seeking cancer treatment. And NGOs play a key role in bridging this gap. In cooperation with private hospitals These organizations help patients get the treatment they need. They usually support or subsidize medical expenses.

During the discussion, Prof. (Dr.) Subir Ganguly, remarked, “Many lives are lost to cancer, and sadly, some of these losses are due to limited access to treatment. For many, the high cost of cancer care makes it unaffordable, leaving critical treatments out of reach. Here, non-governmental organizations (NGOs) have an important role to play in making cancer treatment more accessible and affordable for people from lower economic backgrounds. These organizations fill health care gaps by providing essential services such as financial assistance. In collaboration with private hospitals, they provide inexpensive treatment options and necessary services, like free screenings to patients. NGOs often run awareness campaigns to prevent cancer and are additionally involved in providing emotional and logistical support, such as counseling, Nutrition advice and transportation assistance to cancer patients. At Medica, we also work with many NGOs to make cancer care affordable for the patients in need and we are quite successful in associating with the NGOs which benefited the patients. In the near future, we look to collaborate with more such organizations to help our patients.”

Dr. Ayanabh Debgupta, Regional Chief Operating Officer, Manipal Hospitals (East), shared, “Cancer is the biggest threat to our society and being healthcare professionals, our top priority is to make cancer treatment affordable and accessible for patients in need. It is heartbreaking to see people losing their lives due to lack of treatment. From the very beginning, we have partnered with various non-governmental organizations to support patients from lower economical background. Through these collaborations, we have been able to ease some of their financial burden, and we will continue to support our patients in this way at our hospitals.”

7th November 2024 – Gleneagles Hospitals (Gleneagles Healthcare India Pvt Ltd) India has been certified Great Place To Work® Certified™ in India (from 09, 24, to 09,25)! This Certification is a testament to our commitment to creating a positive and empowering work environment for our employees.

Great Place To Work is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting, and insights they need to make strategic people decisions.

Anurag Yadav, CEO of Gleneagles Healthcare India, expressed his enthusiasm about the Certification: “We are thrilled to be recognized as a Great Place To Work. This Certification reflects our ongoing commitment to fostering a culture of trust, respect, and innovation. Our employees are the heart of our organization, and their dedication to providing exceptional healthcare is what makes Gleneagles a truly great place to work. We will continue to invest in our people and create an environment where they can thrive and grow.”

Gleneagles Hospitals India is a pioneering multi-specialty healthcare provider, operating six state-of-the-art hospitals across Mumbai, Chennai, Bengaluru, and Hyderabad. With over 1500 beds and a team of world-renowned specialists, Gleneagles is at the forefront of medical innovation in India. The hospital group has achieved remarkable success in complex organ transplants, including heart, lung, liver, and kidney transplantations, with survival rates comparable to global standards. As part of the IHH Healthcare network, Gleneagles leverages global expertise to continually push the boundaries of medical excellence, offering hope to patients with complex and critical conditions.

Great Place to Work is the global authority on workplace culture. Their mission is to help every place become a great place to work for all. Their recognition is the most coveted and respected in the world for elevating employer brands to attract the right people. Their proprietary methodology and platform enable organizations to truly capture, analyse, and understand the experience of all employees. Their groundbreaking research empowers organizations to build cultures that retain talent and unlock the potential of every employee. Since 1992, their Certification, Best Workplaces™ Lists, and global benchmarks have become the industry standard, built on data from more than 100 million employees in 150 countries around the world.

National, November 8, 2024: Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of ferro alloys, announced Q2 FY25 results today for the period ending September 30th, 2024.

Financial Performance

Financial Highlights:                                                                                                                             

Operational Highlights:

Management Comment:

Commenting on the results, Mr Subhrakant Panda, Managing Director said that “Higher output, continued focus on operating efficiency, and stable input costs and selling prices have led to improved margins in the second quarter results.

On the global front, demand for stainless steel has marginally dropped largely due to economic uncertainty. However, the long awaited stimulus measures announced in China coupled with the recent uptick in PMI are positive signs for the metals sector in general.

Mr Panda added, “Domestic ferro chrome prices have softened recently, making it unviable for non-integrated producers. In this context, access to captive ore and a debt-free Balance Sheet give us confidence and we are focused on leveraging it to register superior performance.”

November 7, 2024 – Building on the excitement since the date announcement, JioCinema Premium today unveiled the trailer for The Magic of Shiri, a heartwarming slice-of-life drama that beautifully portrays the journey of a woman pursuing her dreams in the enchanting world of magic. With an exceptional cast featuring Divyanka Tripathi Dahiya, Jaaved Jaaferi, Namit Das, and Parmeet Sethi, the ten-episodic series captures life’s small joys, challenges, and the magic found in everyday resilience, and will be available to stream on JioCinema Premium starting November 14.

Presented by Jio Studios, produced by Jyoti Deshpande and Tanveer Bookwala (Ding Infinity), Shiri is adamant to realize her dream of emerging as the world’s best magician and create a legacy in an industry dominated by stereotypes and gender biases. Shiri struggles to find her rightful place in the world of magic but refuses to let that inner spark of desire and determination flicker or flinch, irrespective of the challenges thrown at her. The trailer also introduces Jaaved Jaaferi as a powerful magician, and features Namit Das in a pivotal role.

Commenting on the series, actor Divyanka Tripathi Dahiya said, “Shiri is a story of every woman, finding her way in a world that doesn’t always make space for her. Playing her has been a rewarding experience because it reminded me of the everyday battles, we all face to keep moving forward, no matter the odds. Her journey is so relatable — it’s about holding onto a dream and pushing through, even when it feels impossible. She is every woman who has ever dared to dream beyond society’s boundaries, refusing to be held back by the challenges life throws at her.”

Further adding, Jaaved Jaaferi said, “This is a tale for anyone who has at some point in their life been told that their dreams are too big or that their goals are out of reach. Shiri’s inspiring journey beautifully captures the magic of resilience, passion and determination. My character adds a certain intensity and depth to the story and plays a pivotal role as friend, philosopher and guide in Shiri’s journey through the world of magic.”

With its enchanting storyline and relatable characters, Shiri taps into the universal themes of passion and resilience, resonating with anyone who has ever faced obstacles on the path to their dreams. The series offers a refreshing take on women breaking barriers, set against the magical backdrop of an enchanting and competitive world.

Mahindra & Mahindra Q2FY25 First Cut – Robust growth on all counts; SUV demand continues to drive growth

– Company’s standalone revenue recorded double-digit growth of 12.3% YoY and single-digit QoQ growth of 6.6%, totalling Rs. 28,919 crores, beating the market estimates of Rs. 27,063 crores.
– The company recorded double-digit revenue growth  Revenue growth was driven largely by healthy volume sales during the quarter (the company outperformed the industry). Tractor sales were largely subdued due to the seasonal effect.
– Mahindra and Mahindra’s EBITDA increased by 28% to Rs. 5,270 crores compared to Rs. 3,551 crores posted in the same period last year. The margins stood at 18.2% (up 130 bps YoY / up 305 bps QoQ) during the quarter.

– M&M reported a net profit of Rs. 3,841 crores (up 13.2% YoY / up 47.0% QoQ), surpassing the market estimates of Rs. 3,564 crores. The PAT margins also remained largely flat on a YoY basis while exhibiting a robust expansion of 365 bps sequentially.
– The company posted its highest-ever quarterly volumes, at 231k, on the back of sustained SUV demand in the market, which was further augmented by the new launches during the quarter. UV volume stood at 136k.
– The company maintains its leadership position in the SUV, LCV, Tractor and e3W market, expanding its share by 190 bps, 260 bps and 90 bps, respectively.

Views Of Sagar Shetty, Research Analyst, StoxBox :
Mahindra & Mahindra Ltd registered solid financial performance during the quarter, maintaining a strong market presence across segments. The demand for UVs continues to remain strong, contributing to its healthy revenue growth, while margin expansion continues as a result of improved operational efficiency. The tractor segment also remains in favour of the company despite the rainfall effect during the quarter. Going forward, visible green shoots are expected in the farm industry, primarily fuelled by a healthy rainy season and expected rural development. We also expect healthy growth in the UV segment, as consumer preference remains biased. Additionally, with two new launches in the EV segment, the company is expected to capitalize on the growing market trends. Overall, with the expected bounce in the tractor segment in H2FY25 and its resilient market position despite the slowdown in the PV segment, we believe that the company is poised for solid growth going ahead. Commentary on its expected capex plans and how the company plans to position its two new launches in the market would be key factors to look after.

BENGALURU, India – November 7, 2024: Samsung, India’s largest consumer electronics brand, today announced exciting limited period offers on its immensely popular sixth-generation foldable smartphones – Galaxy Z Fold6 and Galaxy Z Flip6.

Starting today, consumers purchasing Galaxy Z Fold6 will get the smartphone at as low as INR 144999 along with a 24 months no-cost EMI. Similarly, consumers purchasing Galaxy Z Flip6 will get the device at just INR 89999 with 24 months no-cost EMI as a part of a limited period festive offer. Galaxy Z Fold6 is priced starting INR 164999 and Galaxy Z Flip6 is priced starting INR 109999. Consumers seeking enhanced affordability can take advantage of the convenient EMI options starting as low as INR 2500 for Galaxy Z Flip6 and INR 4028 for Galaxy Z Fold6.

Additionally, customers purchasing Galaxy Z Fold6 or Galaxy Z Flip6 will get Galaxy Z Assurance at just INR 999 for a limited period. The Galaxy Z Assurance programme, which provides complete device protection was originally priced at INR 14999 for Galaxy Z Fold6 and INR 9999 for Galaxy Z Flip6. Under the Z Assurance programme, customers can now avail two claims in a year.

Galaxy Z Flip6 and Galaxy Z Fold6 are the slimmest and lightest Galaxy Z series devices ever, and come with perfectly symmetrical design with straight edges. The Galaxy Z series is also equipped with enhanced Armor Aluminum and Corning Gorilla Glass Victus 2, making this the most durable Galaxy Z series yet. Galaxy Z Fold6 and Flip6 are equipped with the Snapdragon® 8 Gen 3 Mobile Platform for Galaxy, one of the most advanced Snapdragon mobile processors yet, combining best-in-class CPU, GPU, and NPU performance. The processor is optimized for AI processing and offers enhanced graphics along with improved overall performance.

The Galaxy Z Fold6 offers a range of AI-powered features and tools – Note Assist, Composer, Sketch to Image, Interpreter, Photo Assist and Instant Slow-mo – to maximize the large screen and significantly enhance your productivity. Galaxy Z Fold6 now comes with 1.6x larger vapor chamber for longer gaming sessions and ray tracing supports life-like graphics on its 7.6-inch screen that offers a brighter display of up to 2600 nits to deliver more immersive gaming.

The Galaxy Z Flip6 offers a range of new customization and creativity features so users can make the most of every moment. With the 3.4-inch Super AMOLED FlexWindow, consumers can use AI-assisted functions without even needing to open the device. Users can reply to texts with suggested replies, which analyzes their latest messages to suggest a suitable tailored response.

FlexCam now comes with the new Auto Zoom to compose the best framing for shots by detecting the subject and zooming in and out before making any necessary adjustments. The new 50MP Wide and 12MP Ultra-wide sensors provide an upgraded camera experience with clear and crisp details in pictures. Galaxy Z Flip6 now also comes with enhanced battery life and gets a vapor chamber for the first time.

Samsung Knox, Samsung Galaxy’s defense-grade, multi-layer security platform built to safeguard critical information and protect against vulnerabilities with end-to-end hardware, real-time threat detection and collaborative protection, secures Galaxy Z Fold6 and Z Flip6.

Galaxy Z Fold6 is available in three stunning colours- Silver Shadow, Navy Blue and Pink whereas Galaxy Z Flip6 is available in Silver Shadow, Mint and Blue. Both the devices are available across all leading online and offline retail stores.

Gurugram, November 7, 2024: The Internet and Mobile Association of India (IAMAI) today launched a comprehensive document on the “Best Practices for Affiliate Marketing in India” at the India Affiliate Summit (IAS), India’s premier annual conference for affiliate marketing professionals. Organised by IAMAI, IAS 2024 serves as a platform for thought leaders and industry captains to address key issues within the affiliate marketing ecosystem.

Affiliate marketing spending in India currently stands at around $331 million, with projections reaching over $420 million by 2025. This anticipated growth underscores the urgent need for standardised practices and ethical guidelines to sustain the industry’s expansion. The Best Practices for Affiliate Marketing in India document by IAMAI addresses this need, providing a comprehensive framework to guide the industry toward greater transparency, trust and efficiency.

Given India’s position as one of the world’s top 10 markets in affiliate marketing, there is immense potential for further growth. Key factors driving this growth include the rising penetration of mobile phones, the rapid expansion of the e-commerce sector, robust digital infrastructure, and government initiatives such as Digital India. Together, these elements are anticipated to enhance the role of affiliate marketing as a strategic tool for companies across the country.

The comprehensive framework outlined in the document aims to foster trust, transparency, and efficiency across the affiliate marketing ecosystem.

The key objectives of launching the Best Practices for Affiliate Marketing are to:

• Establish industry-wide standards for ethical, transparent and effective campaigns
• Foster trust between advertisers, affiliates, and consumers
• Provide compliance guidance in a complex regulatory landscape
• Offer guidelines on performance optimization and KPI measurement
• Address common challenges such as unclear contracts and undisclosed terms

The document includes:

• Overview of different types of affiliate marketing
• Guidelines for technical setup and KPI tracking
• Best practices for various campaign formats (CPV, CPL, CPS, CPI)
• Emphasis on transparency and compliance

In October 2023 IAMAI facilitated the creation of a taskforce, comprising nine renowned companies of the affiliate marketing sector with the intention of creating affiliate marketing best practices guidelines. Companies involved in drafting the document include leading brands such as Affle, Admitad, Grabon, mFilterIt, Optimise, Tyroo, Valueleaf, and vCommission.

7^th November 2024, Mumbai: Alembic Pharmaceuticals Limited reported its consolidated financial results for the second quarter ended 30^th September 2024.

Mr. Shaunak Amin, MD, Alembic Pharmaceuticals Limited said “India’s Branded Business continues to enhance execution capabilities in both quality and scale, with the Specialty and Animal Health segments showing good growth. The USFDA successfully inspected our Oncology Formulation Facility (F-2) without any form 483 observations.”

India Branded Business

• India Branded Business grew 6% to Rs. 609 Crores for the quarter.
• Recorded good growths in specialty therapies like 8% in Gynaecology, 11% in Cardiology, 18% in Anti Diabetic and 13% in Ophthalmology therapies.
• Animal Health business grew 20% for the quarter with basket of strong brands driving outperformance.
• 3 launches during the quarter. New launches continue to do well along with promising future launches across key segments.

International Business

Sonbhadra, Uttar Pradesh, November 7: Avaada Foundation hosted a grand annual tribal fair at Chichlik village in Sonbhadra district, featuring a cricket tournament and a cultural evening. Bollywood actor and Hon’ble Member of Parliament from Gorakhpur, Shri Ravi Kishan Ji, graced the occasion with his presence and a captivating folk music performance. Jay Shankar Shukla and Ritu Patwari, directors of the Avaada Foundation, were also present.

The primary objective of this event was to foster sportsmanship and camaraderie among tribal youth. The tournament provided a platform for young tribal talent to showcase their skills. The village head, Shri Rakesh Kumar Gurjar, and senior representatives of the Avaada Foundation inaugurated the tournament. Local police, PAC teams, and villagers collaborated to make this event a symbol of regional culture and unity.

Avaada Foundation warmly celebrated sportsmanship, culture, and unity. Commenting on the initiative, Mr. Vineet Mittal, chairperson of Avaada Foundation said, “This tournament is not just a celebration of cricket but a tribute to our local talent and culture. We are committed to fostering community spirit and providing opportunities for our youth.

The cultural evening featured performances by local artists. Popular Bhojpuri singer and Hon’ble Member of Parliament from Gorakhpur Shri Ravi Kishan Ji enthralled the audience with his melodious voice. The presence of the Avaada Foundation directors & other representatives made the event a memorable experience for young cricketers and the local community. Around twenty teams participated featuring hundreds of cricketers and audience of about 2,500 villagers.

Adding to this Mrs. Ritu Patwari, Director of Avaada Foundation commented, “Our mission is to uplift and empower marginalized communities through education, health, and sustainable practices. Together, we can create a future where everyone can thrive”.

Avaada Foundation is actively working to uplift rural and tribal communities and improve their living standards. In villages like Chichlik, Khodala (Robertsganj tehsil), and Argur, Basuhari (Obra tehsil), the foundation is contributing to community development efforts. Recently, the foundation distributed sarees and mosquito nets to over 1500 tribal women in these areas and organized a grand feast for thousands of people on the occasion of Durga Puja.

India, November 06,2024: Seeds Fincap Pvt. Ltd.(Seeds), a leading Non-Banking Financial Company (NBFC), has partnered with British International Investment (BII), the UK’s development finance institution and impact investor, through Lok Capital to launch a pioneering Supply Chain Finance initiative, providing tailored financial solutions to small retailers in India.

Many small retailers currently use unsecured individual loans as working capital, due to lack of access to better loan products. Therefore, the new initiative is designed to provide the much-needed working capital for inventory, operations, and expansion along the supply chain, addressing long-standing credit access challenges.

Lok Capital, a key investor in Seeds, facilitated this collaboration through BII’s technical assistance programme – BII Plus – with the aim to unlock capital which will enhance its portfolio’s performance. Seeds’ initiative is also supported by M2i Consulting, which providing the technical support in developing this product.

Through BII Plus, BII is also supporting technology enhancements, market research, and capacity building, enabling Seeds to broaden its reach and strengthen its service offerings. This will demonstrate a new model to help India’s micro, small and medium-sized enterprises (MSMEs), which contributes to nearly a third of the country’s GDP.

Subash Acharya, Managing Director of Seeds Fincap, shared:“Through our collaboration with BII, we are not only offering financial support but also enabling small retailers to think bigger and bolder. We’re empowering them to chart their own course and take the lead in driving local economic transformation, ultimately reshaping their futures and communities.”

Simon Meier, Director and Head of BII Plus at British International Investment, said: At BII, we are committed to supporting innovations that help the growth of MSMEs in a sustainable and inclusive way. Our partnership with Seeds will pilot a new approach to improve access to working capital which small retailers currently find challenging to secure. This will empower them to grow faster and stronger, contributing to a more inclusive economy.”

Rajat Bansal, Director at Lok Capital added:

“The gap in working capital solutions for retailers is significant, and we are pleased that, through our technical assistance platform, Seeds Fincap will be equipped to address these critical needs. This partnership of Seeds and BII is instrumental as it extends beyond mere financial support, fostering long-term growth and sustainability in emerging markets by empowering businesses with tailored resources and tools.”