Archives January 2025

January 22, 2025. Those who participated in the Dream Run category included 30 young cancer victors and some employees of ICS.

The effort was primarily aimed at spreading the spirit of fighting cancer through the runners who demonstrated that despite having gone through cancer they could run the Marathon like any other person. Their spirit generated hope and positivity and spread the ICS message that good lifestyle, eschewing risk factors for cancer such as tobacco, and early detection through regular screening can help in staying two steps ahead of cancer raising awareness and educating people on the importance of screening and early cancer detection.

Apart from individual supporters a big push came from Kotak Securities and Raymonds. About 100 members from Raymonds and 130 members from Kotak securities ran for the Tata Mumbai Marathon 2025 supporting Indian Cancer Society to raise awareness.

Mumbai/New Delhi, January 22nd, 2025: Dalmia Bharat Limited, a leading cement manufacturing company, reported its consolidated financial results for the quarter ended December 31, 2024.

Commenting on the performance, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “After multiple years of high growth, India witnessed a slightly slow start to the year, but government’s continuous focus on investment-led growth coupled with the strong structural growth drivers underpin my confidence in a rebound of the Indian economy. In this backdrop, I believe cement demand growth will regain momentum. Our capacity expansion plans are on track as we will reach 49.5 MnT by the end of this year.”

Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited, said “Cement demand growth in Q3 fell short of our earlier expectations. Our volumes de-grew by 2% YoY while EBITDA fell 34.5% YoY to Rs 511 Cr with persistent softness in cement prices. With demand now gaining traction and prices showing signs of optimism, we are confident about a stronger performance in the upcoming quarters.” He further added, “Our strong Balance Sheet with a healthy leverage ratio ensures that we are well-positioned to pursue the next phase of expansion.”

Key updates

• Completed debottlenecking at Rajgangpur, Odisha (0.6 MnT) and Kadapa, Andhra Pradesh (0.3 MnT). Total Clinker capacity increased to 23.5 MnT.
• In line with the commitment towards RE100 by 2030, Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of the Company, has entered into multiple Renewable Power Agreements under the Group Captive, which will secure 21 MW of RE power. This is in addition to 278 MW of power agreements signed earlier in H1 FY25. Thus, we have collectively signed agreements for 299 MW of RE power. Commissioning of these are ongoing and will continue in phases in FY25 & FY26.
• Commissioned 4 MW captive solar power plant at Medinipur, West Bengal and 46 MW RE capacity under Group Captive, increasing our total operational RE capacity to 252 MW.
• ICRA ESG has assigned a Combined ESG rating of 78 (strong) to Dalmia Bharat, underscoring our status as one of the leaders in sustainability within the Indian cement sector.

Key Recognitions during the quarter

• Won 1st Prize in National Energy Conservation Award by Bureau of Energy Efficiency in energy conservation – Cement Sector for Kapilas Cement Works
• Won Tamil Nadu Best Employer Brand Award 2024 by HRD Congress
• Won ISEI Safety Award for excellence in Safety, Health & Environment for Dalmiapuram

New Delhi, 22nd January 2025: Hindustan Zinc Limited, India’s largest and the world’s second-largest integrated zinc producer, displays its new & innovative zinc die casting alloy product range HZDA 3 and HZDA 5 (Hindustan Zinc Diec Casting Alloy) at the Bharat Mobility Global Expo 2025, held at Pragati Maidan, New Delhi, along with its entire range of high quality zinc products for the auto segment. The company presented one of the world’s largest zinc product portfolios along with lead, silver and value-added products, tailored for the automotive industry at this global event for the automotive and mobility industry.

Zinc’s usage in the automotive sector, through galvanized steel, offers significant fuel and emission savings by providing a high degree of corrosion resistance to lightweight steel bodies (BIW or Body-In-White), ensuring durable, long-lasting vehicles with longer anti-perforation warranty against corrosion. The company’s Zinc Die Casting Alloys specially developed for the hot chamber die casting process are engineered to cater to the evolving needs of the automotive sector. Commonly known as ZAMAK in the market, Hindustan Zinc is the primary producer of these alloys which otherwise are imported into the country. Hindustan Zinc’s Die Casting Alloys offer exceptional castability, long-term dimensional stability, fast machining, and superior finishing for plating, painting, and chromate treatments. Both HZDA 3 & HZDA 5 provides higher strength, electrical conductivity, corrosion resistance, and dimensional tolerance to automobiles. The company’s foray into superior die-casting alloys presents an opportunity for auto OEMs and component manufacturers to reduce imports from other countries and build a resilient value chain of high-quality products within the country.

Another big draw at the event was Hindustan Zinc’s low-carbon ‘green’ zinc branded ‘EcoZen’ that has 75% lower carbon footprint compared to conventionally produced zinc that can result in a total carbon emission avoidance of about 400 kgs in galvanizing one tonne of steel with EcoZen.

The company’s product range also includes lead, which is vital for automotive batteries, components and radiation shielding while silver enhances conductivity and efficiency in automotive electronics, including switches and relays. As the auto industry transforms with localization, electrification and stricter emissions regulations, domestically produced zinc, lead and silver present sustainable, high-performance solutions for the future.

Sharing his thoughts, Arun Misra, CEO and Whole-time Director, Hindustan Zinc Limited, said, “The automotive industry is at the forefront of shaping a sustainable future, and Hindustan Zinc is proud to be a partner in this journey. We are committed to delivering innovative, high-quality solutions that not only meet but exceed the industry’s expectations. Our vast product portfolio will play a pivotal role in driving efficiency, sustainability, and design excellence in automotive manufacturing. We are excited to showcase our diverse metals at Bharat Mobility Global Expo 2025, a platform that mirrors our vision of co-creating a future beyond boundaries.”

Recent trends indicate a significant change in preferences of Indian car buyers who are actively seeking ‘corrosion-free’ or anti-perforation warranties from auto manufacturers, specifically offering rust-protection in addition to protection against cosmetic paint fading and peeling. Globally, cosmetic warranties typically last five years, and anti-perforation warranties extend up to ten years, necessitating the use of galvanized (zinc-coated) steel in car bodies. This shift is driven by visible rust on vehicles as early as within the first few months to 2 years of purchase, especially in India’s harsh weather conditions where cars are parked outdoors, exposed to the elements.

Using zinc-coated steel for auto bodies (Body-In-White or BIW) is the most effective solution against rapid corrosion for which Hindustan Zinc’s Special High-Grade Zinc (SHG) is an industry best-seller. Post-purchase paint or anti-rust treatments are inadequate for long-term protection, often chipping and exposing the steel to rust. Therefore, adequate corrosion protection in vehicles is becoming essential to meet evolving consumer expectations and international standards. Galvanized car bodies account for less than 0.1% of the selling price, which are quickly offset by optimised manufacturing processes by OEMs, reduced maintenance expenses by the customer and enhanced brand reputation due to superior vehicle safety and performance.

Nearly 70% of Indian cars manufactured for exports use zinc coated steel (galvanised or galvannealed steel) due to international quality standards. However, only about 25% of cars meant for Indian consumption use zinc-coated steel. Even in these, the amount of coated steel used may be about 3% to 50%, while for export models the body may be 70-80% zinc protected. Rust-protection of cars is soon becoming imperative for the discerning Indian car buyer.

Hindustan Zinc has been a long-time upstream partner to the auto industry, providing a diverse metal portfolio for various applications, from car bodies to batteries, chips, accessories, and most-importantly corrosion-resistant components. The company’s comprehensive portfolio of value-added zinc products is tailored for the Indian automotive sector, providing cost-effective solutions that meet performance, quality, and safety requirements.

Hindustan Zinc is focused on a ‘customer-first’ approach to product innovation. The company’s Customer Technical Services team works closely with customers to provide a seamless experience. Committed to providing topmost quality products, the company’s zinc and lead products are the first in the country to be verified by the Environmental Product Declaration (EPD), along with ISO and BIS (Bureau of Indian Standards) certifications for quality. Additionally, the company also has REACH certification for exporting its products to Europe.

Hindustan Zinc Limited, a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category for the second consecutive year by the S&P Global Corporate Sustainability Assessment 2024. The company has recently launched EcoZen, Asia’s first low carbon ‘green’ zinc, produced using renewable energy, that has a carbon footprint about 75% lower than the global average. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. As an energy transition metals company, Hindustan Zinc is pivotal in providing critical metals essential for a sustainable future.

Mumbai, January 22, 2025: NDR InvIT Trust, a leading player in India’s infrastructure investment space, has announced the acquisition of a Grade-A industrial and warehousing portfolio spread across the markets of Surat, Hyderabad, Bengaluru, and Pune. This strategic acquisition adds 2.01 million square feet (MSF) of fully operational, high-quality assets to NDR InvIT’s growing portfolio, underscoring its commitment to creating a diversified and scalable infrastructure footprint across key growth centers.

The acquisition, valued at INR 7,061 million, is expected to deliver robust returns and includes properties with 100% occupancy, marquee tenants, and a weighted average lease expiry (WALE) of 15.4 years. The transaction will be financed through a mix of cash consideration (INR 5,651 million) and a preferential issue (INR 1,410 million), which will see 11.01 million units allotted at INR 128 per unit, representing a 21.6% premium over the trade price.

Portfolio Highlights:

● Surat (0.90 MSF): Warehousing facilities leased to marquee tenants, contributing 41.6% of the portfolio’s Gross Asset Value (GAV).

● Hyderabad (0.40 MSF): Built-to-suit warehouse leased to multiple tenants, comprising 9.5% of GAV.

● Bengaluru (0.33 MSF): Facility leased to NxtGen (backed by IFC and Intel), representing 31.3% of GAV.

● Pune (0.39 MSF): Built-to-suit facility for a leading automotive OEM supplier, contributing 17.6% of GAV.

The acquisition is expected to enhance NDR InvIT’s consolidated GAV by 15.22%, increase its operating area by 12% to 19 MSF, and further diversify its geographic presence by entering the Surat and Hyderabad markets while strengthening its foothold in Bengaluru and Pune.

Key benefits and impact of this acquisition:

1. Enhanced Portfolio Metrics: Post-acquisition, the portfolio’s WALE increases to 12.1 years, ensuring long-term income stability.
2. NAV Accretion: The acquisition is expected to deliver a 3% accretion in Net Asset Value (NAV), increasing it to INR 130.81 per unit.
3. Income Growth: An 8.7% cap rate on FY 2026 NOI underscores the accretive nature of the transaction, with net distributable cash flow (NDCF) per unit anticipated to increase by 0.5%.
4. High-Quality Tenants: The properties are leased to industry-leading tenants, ensuring steady cash flows and long-term lease commitments.

Mr. Amrutesh Reddy, Director, NDR InvIT Managers, said, “This acquisition marks a significant step in strengthening our portfolio with high-quality, diversified assets that align with India’s infrastructure growth ambitions. As the country focuses on modernizing supply chains under initiatives like the Gati Shakti National Master Plan and the ‘Make in India’ campaign, these strategic investments reaffirm our commitment to advancing the warehousing and industrial sectors while delivering long-term stable returns to our stakeholders. By expanding into key markets such as Surat and Hyderabad, we are well-positioned to address the rising demand for world-class industrial and logistics infrastructure.”

January 22, 2025, Santa Clara, CA and Pune, India

Persistent Systems, a global leader in Digital Engineering and Enterprise Modernization, today announced that it has achieved [ICRA]AA+ (Stable) credit rating, reinforcing its strong financial position, business resilience, and operational excellence.

ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency. ICRA’s comprehensive rating assessment involves an in-depth evaluation of financial statements, extensive discussions with the senior leadership team, and a detailed analysis of business performance. Key factors such as revenue growth, operational efficiency, capital structure, and liquidity position are meticulously reviewed to gauge financial resilience and long-term stability.

The AA+ (Stable) rating from ICRA reinforces stakeholder trust, demonstrating Persistent’s sustained growth momentum and resilience in navigating dynamic macroeconomic conditions. The key rating drivers and strengths highlighted by ICRA include:

• Experienced leadership with a proven operational track record, complemented by well-established relationships with a diverse customer base across various industries.
• Strong revenue growth and a healthy order book ensuring consistent revenue visibility, driven by a diversified mix of large and mid-sized deals across key sectors with an increasing share of new business wins.
• A robust financial profile driven by healthy cash flow generation and capital structure, reflects the financial stability and positions Persistent to sustain its growth momentum and navigate future opportunities effectively.

This credit rating will also serve as a key enabler in Persistent’s bid pursuits with larger clients, who often require vendor partners to demonstrate strong financial robustness as part of their selection criteria. The AA+ (Stable) rating provides a credible assurance of Persistent’s financial health, further enhancing the Company’s ability to secure strategic engagements and expand its footprint in the enterprise market.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent

“We are proud to have achieved the [ICRA]AA+ (Stable) rating, which serves as a testament to our strong business fundamentals, financial health, and operational excellence. This recognition reflects the trust we have built with our clients, shareholders, and employees over the years. We will continue to drive top-quartile industry performance through disciplined execution, innovation, and global expansion, while maintaining a robust capital structure and healthy liquidity position. By doing so, we aim to sustain our growth momentum and create long-term value for all our stakeholders.“

Mumbai, 22nd January 2025 – After five successful editions across Northern India, Daakroom – The Letter Writing Carnival made its much-awaited debut in Mumbai at the World Trade Center. Presented by JKPaper Ltd and supported by India Post, the event celebrated the timeless art of handwritten letters, offering a day filled with creativity, nostalgia, and connection. The carnival created a vibrant and engaging atmosphere that brought generations together to rediscover the beauty of handwritten communication. The Writing Zone stood out as a highlight, with a Walk-In Post Office by India Post, featuring a real letterbox and postmen riding bicycles through the event, evoking nostalgia and authenticity. Unique experiences like vintage letter scrolls sealed with wax, a typewriter station, live calligraphy, caricatures, handwriting analysis and interactive writing invited visitors to immerse themselves in the world of letters, art, and tangibility, sparking meaningful conversations and heartfelt connections.

New Delhi, January 22, 2025 – Tajurba, India’s leading business networking platform for SMEs, successfully organized a full-day workshop on the topic “SME to IPO” at Hotel Crowne Plaza, Okhla. The event witnessed an overwhelming response, with over 200 SME business owners from across India attending to explore the potential of taking their businesses public through SME IPOs.

The workshop was conducted by Suresh Mansharamani, India’s top SME IPO coach, celebrated for his unparalleled expertise in guiding small and medium-sized enterprises on the path to growth, fund-raising, and stock market listing.

During the session, Suresh Mansharamani shared deep insights on every critical aspect of the IPO journey, including:

•  Fundraising Strategies
•  Valuation Essentials
•  Step-by-step process of Listing on the SME Exchange

He also stressed the importance of building a strong financial foundation for businesses aspiring to go public. “SMEs must ensure their books are clean, all compliances are strictly adhered to, and their balance sheets are healthy and transparent. These are essential prerequisites for a successful listing,” Mr. Suresh Mansharamani, co-founder of Tajurba Business Network emphasized.

The workshop provided attendees with actionable strategies and practical knowledge, empowering them to scale their businesses and unlock new opportunities through public listings.

Speaking about the workshop’s success, Tajurba’s co founder Uma Mansharamani said, “Our mission is to help SMEs scale up and achieve their true potential. This workshop is another step towards enabling business owners to realize their IPO dreams and become key contributors to India’s economic growth.”

The event concluded with interactive Q&A sessions, networking opportunities, and success stories of SMEs that have already made their way to the stock exchange.

Mumbai: In a ground-breaking medical success, a frail 94-year-old woman from Mumbai has regained her independence and quality of life after undergoing a Transcatheter Aortic Valve Replacement (TAVR) procedure. Weighing only 36 kg, Bhanbai Gala was treated for severe aortic stenosis by the veteran interventional cardiologist Dr Ravinder Singh Rao.

Bhanbai Gala, grandmother to a general practitioner Dr. Mita Gala, had been battling severe chest heaviness and breathlessness for months. Her condition limited her ability to walk even a few steps and disrupted her daily routine. A bypass surgery in 2010 and her frailty put her at high risk for treatment. Yet, her determination to attend her great-grandson’s wedding led her family to seek medical solutions.

Following detailed evaluations, Dr Rao recommended TAVR, a minimally invasive procedure to replace the aortic valve. TAVR was deemed high risk in view of advanced age and previous bypass surgery. Performed under local anaesthesia, the hour-long procedure involved inserting a new valve via the femoral artery, replacing the narrowed aortic valve without complications. The patient started to breathe better overnight.

Dr Rao said, “Our extensive experience with TAVR helps to perform the procedure safely in a complex situation. The valve starts functioning immediately, and when these patients go home without complications, they do extremely well. TAVR is a game-changer for patients with aortic stenosis. It is also approved for low-risk patients in their 60s if the valve can be replaced from the groin vessel,” said Dr Rao. “Her small build, complex anatomy, and Trifascicular AV block posed challenges, but meticulous planning ensured a safe and successful outcome.”

Bhanbai Gala was discharged within 48 hours and experienced significant improvements in her symptoms. At her one-month follow-up, she reported walking comfortably, completing household chores, and even preparing her favourite dessert, Khajur Pak.

Her family was overjoyed. “As a doctor, I had doubts about the safety of TAVR for my grandmother, but Dr Rao’s expertise and constant support eased our concerns,” said her granddaughter Dr. Mita Gala. “Seeing her enjoy the wedding rituals with enthusiasm was truly a blessing.”

Bhanbai Gala’s story highlights the transformative potential of advanced medical technology like TAVR. It offers a beacon of hope for elderly patients seeking a better quality of life to experience their joyful occasions to the fullest.

In India, the number of TAVI Procedures, is increasing year by year since its first use in 2011. With the prevalence of 7.3% for isolated aortic stenosis, an estimated TAVI–eligible population is roughly about 300,000 people.

Mumbai: In a remarkable achievement, a team led by Dr Rajashri Tayshete Bhasale, Consultant Obstetrics & Gynaecologist and Laparoscopic Surgeon, consisting of Nephrologist Dr Puneet Bhuwania, Hematologist Dr. Muralidaran C. successfully treated a 26-year-old pregnant woman who arrived in critical condition with a hemoglobin level of 2 (g/dL) and a rare diagnosis of catastrophic antiphospholipid antibody syndrome (APLA). The woman delivered a healthy preterm baby weighing 1.2 kg following an emergency cesarean section and an intensive medical intervention, including plasmapheresis therapy, multiple blood transfusions, and steroid treatments to improve the baby’s lung maturity.

Patient Isha ( name changed), a resident of Palghar, multigravida (in her second pregnancy) experienced low hemoglobin of 4 (g/dL) in her 8 months of pregnancy in November 2024 The patient’s hemoglobin dropped to 2 (g/dL) by the time she reached Wockhardt Hospitals, Mira Road. Fortunately, the mother and the baby were safe due to the timely intervention by the skilled team of doctors.

Dr Rajashri Tayshete Bhasale, Consultant Obstetrics & Gynaecologist and Laparoscopic Surgeon at Wockhardt Hospitals, Mira Road said, “This was one of the most challenging and unique cases. The patient arrived with severe anemia with hemoglobin of 2, pulmonary edema, and disseminated intravascular coagulation (DIC) which means her blood thinning power had been lost as this was confirmed via a D-dimer, her USG reports were normal. However, the baby’s health started deteriorating. First, we suspected abruption after extensive blood product transfusions, we stabilized enough for surgery while taking care of failure and Pulmonary edema. Emergency LSCS done after stabilization 1.2 kg baby was delivered, but there were no signs of Abruption. Further evaluation with the team including a Haematologist, diagnosis of Catastrophic APLA was made. Catastrophic APLA syndrome was been detected. The condition, seen in approximately 1 in 2 to 5 lakh individuals, posed severe risks to both mother and baby. This rare immunological condition caused her body to destroy hemoglobin, necessitating plasmapheresis therapy which is a type of dialysis procedure to remove harmful proteins

Dr Rajashri added, “The team’s collective effort and timely intervention saved both mother and baby. Thankfully, we could stabilize her and deliver a healthy baby weighing 1.2 kgs despite the odds.”

Dr. Puneet Bhuwania, Consultant Nephrologist & Transplant Physician highlighted, “The successful use of plasma therapy (type of dialysis) in such a critical case highlights the importance of rapid diagnosis and advanced therapies in saving lives. Catastrophic APLA syndrome is a rare, life-threatening condition, and this case showcases how a holistic approach can achieve remarkable outcomes. The patient’s history of unexplained anemia two years ago likely points to an earlier undiagnosed episode.”

The patient and her baby have since been discharged, while the baby received three weeks of preterm care in the NICU. This case underscores Wockhardt Hospitals, Mira Road’s commitment to providing cutting-edge medical care and their expertise in handling complex, life-threatening conditions. It is also a testament to the importance of multidisciplinary teamwork in saving lives.

“I am thankful to Dr Rajashri and her team as they provided us with timely diagnosis and treatment. When I was admitted, I was so weak that I thought I wouldn’t survive, But the team at Wockhardt Hospitals, Mira Road didn’t give up on me. They explained everything clearly and treated me with care and compassion. My baby and I are alive today because of them, and we are forever grateful,” concluded the patient Isha ( name changed).

“The Union Budget 2025 is pivotal for India’s education and skilling landscape. Although digital education has made significant progress in the past few years, this year’s real challenge will be bridging the education-skilling-employability gap.

The current digital infrastructure needs to be more robust and accessible. It would be a game-changer if targeted tax breaks and incentivised collaborations between EdTech platforms and educational institutions became part of this budget. This could help create scalable, job-focused skilling programs for in-demand roles across industries. Furthermore, access to skilling for economically disadvantaged students deserves attention. I hope the Government will announce interest-free loans and reduce GST rates on education and skilling initiatives to ensure that learning becomes more accessible to those who need it most.” – Anil Nagar, Founder & CEO, Adda247