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Covestro is moving forward with the implementation of a unique process for producing the important chemical aniline entirely based on plant biomass instead of petroleum for the first time. At its Leverkusen site, the plastics manufacturer has now put a special pilot plant into operation for this purpose. Initially, large quantities of bio-based aniline will be produced there, so that the new technology can be further developed for production and transferred to an industrial scale. In the plastics industry, aniline is used to produce MDI, among other things. This in turn is used for insulating foam, for example, which saves energy in buildings and reduces the CO2 footprint. Covestro believes it will contribute to the promotion of the Circular Economy, which the company is aiming to become fully aligned with.

In attendance at the opening ceremony were North-Rhine Westphalia’s Deputy Minister President Mona Neubaur as well as Professor Walter Leitner, Managing Director of the Max Planck Institute for Chemical Energy Conversion in Mülheim an der Ruhr. Together with Dr. Thorsten Dreier, Chief Technology Officer of Covestro, they discussed the significance of bio-based raw materials for a sustainable chemicals industry of the future.

“Among other things, aniline is a key raw material for foams used to insulate buildings and refrigerators,” Dreier explained the importance of the basic chemical. “Until now, aniline has been produced from fossil raw materials such as crude oil. With our new process, we are helping to build a circular economy with a lower carbon footprint, and I am very proud that we have now succeeded in making the leap to the next technological level.”

Covestro developed the process, which has already won several awards, together with partners in the scientific community. Compared to conventional technology, the process leads to a greatly improved CO2 footprint of aniline. Covestro has made a seven-digit investment in the pilot plant at the Chempark Leverkusen.

“Sustainable innovations from North Rhine-Westphalia are making a decisive contribution to the transformation of Germany as a chemical location. The world’s first pilot plant for bio-based aniline is an impressive example of this,” emphasized Neubaur, who is also the State Minister for Economic Affairs, Industry, Climate Protection and Energy. “In order for the industry to continue on its path towards a circular economy and climate neutrality, it needs planning and investment security above all. As the state government, we are therefore working hard to ensure that North Rhine-Westphalia remains an attractive business location and becomes the first climate-neutral industrial region in Europe.”

Professor Leitner also underlined the importance of partnerships. “The project illustrates the cooperation between research-based industry and application-oriented science. There are many intersecting partnerships like these, especially in NRW. Germany needs more of this in order to assert itself as a research and technology location.”

Use of biotechnology

The project also clearly showcases the potential contribution of the industrial (“white”) biotechnology to plastics production: in the new process, a customized microorganism helps convert an industrial sugar extracted from plants into an intermediate product through fermentation. This takes place under milder and thus more environmentally compatible conditions than in conventional processes. In a second step, chemical catalysis of the intermediate product then creates the aniline with one hundred percent plant-based carbon.

The research on bio-based aniline will also continue to be funded by the German government. The German Ministry for Food and Agriculture is funding a follow-up project (Bio4PURDemo) from Covestro and partners, which started in March 2022 and runs until 2025.

The RWTH Aachen with the CAT Catalytic Center and the University of Stuttgart, as well as the technology transfer initiative located there, are also participating in the project.

Around six million tons of aniline are currently produced worldwide, with the volume growing by approximately three to five percent per year on average. With a production capacity of more than one million tons per year, Covestro is one of the leading aniline producers.

New Delhi, February 14, 2024: Empowering the Common People’s Health Journey, promoting and developing AYUSH practices and awareness among the citizens is the main objective of International Arogya Exhibition, said Smt. Leena Johri, IAS, Principal Secretary, Department of AYUSH, Govt Of Uttar Pradesh.

Addressing the curtain raiser event in Lucknow, Johri stated, “Our mission is to globally showcase the transformative potential of AYUSH and with this exhibition, we are enhancing its health benefits for all.”

The four-day event will be held from February 22, 2024, to February 25, 2024, and is being jointly organized by the Ministry of Ayush, Government of India and the Federation of Indian Chambers of Commerce and Industry (FICCI). It is supported by the Ministry of Commerce and Industry, Government of India and the Ayush Export Promotion Council (Ayushexcil).

B K Singh, Joint Secretary, Ministry of Ayush, Government of India, invited the media to be a part of International Arogya 2024 and spoke about free health consultations for public and Public lectures for health awareness.

On the theme ‘Ayush for One Health’, the event will showcase the strength and scientific validation of traditional Indian systems of medicine in the global context, including Ayurveda, Yoga and Naturopathy, Unani, Siddha, Sowa-Rigpa and Homoeopathy (AYUSH), and facilitate their worldwide promotion, development and recognition.

The Ministry of Ayush, Government of India has been actively working towards the growth of Health and Wellness sector. The Ministry has reached a significant milestone by unveiling the WHO-prepared ICD 11-chapter 26 module 2, which was highlighted by the Honorable Prime Minister during the January 28th episode of Maan Ki Baat. Earlier, the International Day of Yoga (IDY) 2023 has witnessed immense success globally. In Surat, last year, IDY made a Guinness world record for the largest gathering of people for a yoga session in one place as more than one lakh people took part in the event. Inaugurated by Prime Minister, Shri Narendra Modi, the first Global Ayush Investment and Innovation Summit (GAIIS) 2022 held in Gandhinagar, Gujarat in April witnessed letters of intent worth more than Rs. 9000 crores in major categories like FMCG, Medical Value Travel (Heal in India), Pharma, Technology & Diagnostic and Farmers & Agriculture.

International Arogya 2024 holds immense significance as it serves as a platform for convergence, collaboration, and innovation in the field of holistic health and wellness. The objective of International Arogya has always been to encourage global validation, promote and develop Ayush practices, foster awareness, facilitate stakeholder interaction and market growth, as well as showcase research and innovation in this rapidly expanding field.

Along with the exhibition, International Arogya 2024 will also include thematic sessions and panel discussions on relevant topics like – CEOs Roundtable: Exploring Challenges and Opportunities within the Ayush Sector; Global Perspective – Regulatory Harmonization for Strengthening Global Governance; Ayush Nutrition (Ayurveda Aahar)- Fostering Holistic Health and Wellness; Globalizing and Standardizing Ayush Products and Services: Evaluating India’s Exports for Traditional Products; Synergizing Pharma and Ayush: Exploring Collaborative Approaches for Integrated Healthcare Solutions; Harnessing the Power of Digital Technology for Advancements in Research, Development, and Manufacturing of Ayush Products etc.

After the successful second edition held in December 2019, International Arogya 2024 will witness a large number of delegates and buyers from India, as well as international delegates from 60 countries including importers, regulators and Government officials. It is expected to bring together over 250 manufacturers of alternative medicine, who will showcase their products and services. The mega event will converge key stakeholders of the Ayush sector under one roof, help boost exports of Ayush products, showcase the latest research and developments in alternative medicine systems of India and harness the potential of this fast-growing and globally emerging sector.

New Delhi, 14^th Feb 2024: The year 2023 reported absorption of 37.8 Mn sq ft, 21% higher, compared to the previous year. Absorption has been on the rise since 2021, increasing gradually year over year. Despite dried-up investments in 2023, absorption surpassed pre-pandemic level of 2019 by 15%.

The sector received investments worth USD 646 Mn in 2023, accounting for 15% of the total institutional investment received in the real estate sector. However, investments declined by 65% in 2023 over the previous year as investors opted for wait-and-watch mode amid global macroeconomic uncertainty.

Yearly Absorption Trend

In the past decade, 3PL companies emerged as a preferred choice for several businesses as these companies can optimize cost along with providing flexibility to their clients in case of demand uncertainty. As a result, the share of 3PL companies increased over the years and reached 44% of the overall absorption in 2023, followed by Engineering and Manufacturing companies with 18% share. Retail accounted for 11% of the overall absorption in 2023.

Sector-Wise Absorption (Mn sq ft)

Source: Vestian Research

Mumbai contributed the highest to the overall absorption in 2023 with 27% share. Its share has increased from 19% a year earlier. In absolute terms, absorption increased by 69% in the city, reaching 10.2 Mn sq ft in 2023. Heightened real estate activities during the year resulted in an annual appreciation of 4% in rentals.

On the other hand, Kolkata witnessed the highest annual decline of 23%, reaching 1.6 Mn sq ft in 2023. Its share has also declined from 7% in 2022 to 4% in 2023. Limited availability of Grade A warehouses in the city posed a challenge in meeting growing demand, leading to a decrease in absorption. Moreover, restricted absorption activities in the city during 2023 exerted pressure on rentals, resulting in an annual decline of 5%.

Absorption increased by 21% in NCR compared to the previous year, however, its share in the total absorption remained constant. The city’s strategic location and thriving e-commerce markets were major demand drivers. Robust demand for warehouses in the city resulted in an annual appreciation of 2% in rentals.

Pune registered a substantial annual growth of 35% in 2023, reaching an absorption of 7.0 Mn sq ft. This growth can be attributed to the presence of trade hub of Chakan MIDC, which hosts large manufacturing and logistics parks.

The southern cities (Bengaluru, Chennai, and Hyderabad) collectively contributed 27% to the total absorption in 2023, after reporting a decline from 34% share in 2022. In absolute terms, absorption decreased by 5% in these cities, reaching 10.2 Mn sq ft in 2023.

Shrinivas Rao, FRICS, CEO, Vestian said, “The Union Budget 2024-25 is expected to set the tone for next couple of years. Recent announcements of infrastructure development in the interim budget may have a positive impact on the sector. However, 2024 can be a challenging year for Indian warehousing sector as investments were on a downward trend in 2023.”

The sector is expected to expand at a CAGR of 10%-13% for next couple of years, predominated by third-party logistics and e-commerce enterprises. Grade A facilities are likely to be in demand due to their efficient and cost-effective methods.

Hyderabad, Feb 14, 2024: MTAR Technologies Ltd (“MTAR”), a leading manufacturer engaged in manufacturing and development of mission critical precision engineered systems catering to Clean Energy – Civil Nuclear Power, Fuel Cells, Hydel & Others, Space, and Defence sectors has announced its unaudited financial results for the third quarter ended Dec 31, 2023.

YoY Q3 FY 24 vs. Q3 FY 23:

• Revenue from Operations stood at Rs. 118.4 Cr. in Q3 FY 24 as against Rs. 160.2 Cr. in Q3 FY 23, 26.1% decrease YoY
• EBITDA reported at Rs. 23.9 Cr. in Q3 FY 24 as compared to Rs. 45.0 Cr. in Q3 FY 23, 47.0% decrease YoY
• Profit Before Tax stands at Rs. 12.9 Cr. in Q3 FY 24 as against Rs. 42.0 Cr. in Q3 FY 23, 69.3% decrease YoY
• Profit After Tax was at Rs. 10.4 Cr in Q3 FY 24 as against Rs. 31.4 Cr. in Q3 FY 23, 66.8% decrease YoY

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “Revenues in FY 24 shall be marginally higher as compared to FY 23 due to deferment of export shipments in Clean Energy sector to the next fiscal year. However, the growth outlook for FY 25 remains intact with 45% – 50% YoY likely increase in revenues. The company is in final stages of discussion with reputed global MNCs as well as made good progress in Small Satellite Launch Vehicle project.”

Kolkata, February 14: Dhanvesttor, India’s newest boutique wealth management and co-learning and community building platform has announced that it has received PMS License (R.A. No. INP000008570) from the Securities and Exchange Board of India (SEBI) to begin PMS (Portfolio Management Services) operations. The grant of this licence has enabled the company to undertake the administration of funds and provide clients with strategic insights for navigating the financial landscape. This newly-acquired licence has allowed the company to further its cause of increasing women’s economic opportunities and participation in the capital markets by supporting their efforts to generate and control their own income.

Commenting on the development Anooshka Soham Bathwal, CEO & Founder of Dhanvesttor said, “The grant of the SEBI PMS License (R.A. No- INP000008570) is a big leap in our commitment to offering women-focused portfolio management services which will empower them to participate in the economy on equal terms with men. Our aim is to deliver unparalleled financial insights to optimise returns for our clients and shape their path to financial success.”

In tandem with its wealth management services, Dhanvesttor also provides co-learning sessions and community-building exercises to create an intimate and safe environment for women to discuss their queries about personal finance and wealth management. These sessions, conducted both in groups and one-on-one, aim to enhance financial literacy and inspire women to engage with like-minded individuals and financial experts, guiding them through their personalized journey of financial growth.

Anooshka further adds, “We strongly believe that financial empowerment for women involves not only monetary gains but also gaining financial knowledge. This knowledge helps women become more independent and confident in making both short-term and long-term money decisions. This knowledge is then passed on to their children, friends, and communities and pays dividends in terms of inclusive economic growth and human capital.”

Furthermore, Dhanvesttor is poised to introduce an extensive array of brokerage services and expand its market reach in tier-2 and tier-3 cities in addition to its existing focus on tier-1 cities. The firm has strategically expanded its presence and service portfolio, reinforcing its standing as an inclusive platform with a competitive edge.

In the dynamic realm of digital content creation, fostering meaningful and real-time engagements between creators and fans is the cornerstone of success. Fanory, a platform dedicated to connecting creators with their audience, faced significant challenges related to quality, reliability, and latency in live streaming and two-way audio/video calls. Prior to integrating Agora’s cutting-edge technology, Fanory grappled with user experience issues that impeded their mission. Seeking a reliable partner to address these concerns, Fanory discovered Agora’s video and audio Software Development Kits (SDKs) and embarked on a transformative journey. This partnership not only transformed the quality and latency issues but also took Fanory’s user engagement to new heights.

The Problem

User experience issues with quality, reliability, and latency

As a platform connecting creators with fans, Fanory’s mission revolves around fostering meaningful and real-time engagements. Before Agora, Fanory creators and fans encountered challenges with quality and latency in live streaming and two-way audio/video calls.

When looking for a new RTC provider, Fanory focused on finding a reliable partner that could help solve these quality issues. Finding Agora’s video and audio SDKs was a game-changer for the Fanory team.

The Solution

High-quality engagement between creators and fans

Agora’s Interactive Live Streaming, Video Calling, and Signaling services were the perfect choice based on Fanory’s needs, enabling reliable real-time interactions between creators and fans while supporting Fanory’s live commerce model. Agora’s Extensions Marketplace allowed Fanory to quickly and easily add high-quality Banuba face filters to the app. Fanory also relies on metrics from Agora to build its AI models for revenue predictions on live streams.

Comments and stream engagements can predict if users will stay with the creator livestream, ultimately leading to better conversion rates. This integration via Agora’s RESTful API allows Fanory’s AI model to provide creators with real-time recommendations on content and pricing to help them optimize revenue. This data has allowed Fanory to implement creator KPIs like engagements, availability, and stickiness. These metrics help them identify which creators are working well and what sort of content strategy works best for fans.

“Agora’s customizable APIs allowed us to optimize real-time connectivity and network traffic while reducing latency to milliseconds during live streaming and interactive sessions between creators and fans. Agora’s Banuba face filter extensions feature helps our creators immensely. Integrating the extension was easy and it performs perfectly, with no delay applying filters on live video.- Saurabh Singh Kushwah, Co-Founder, Fanory

Results and ROI

Boosting app downloads and usage with a better voice chat experience

Fanory’s user engagement improved drastically since implementing Agora. On average, users now spend 66% more time on the platform, indicating improved engagement and content consumption. Interaction with creator gifting has also increased by 24% since switching to Agora, showcasing a more dynamic and engaging user experience.

“Implementing Agora led to a huge boost in engagement, with users spending 66% more time on our platform. Users appreciate the enhanced communication quality, which has increased user retention and platform growth.“

 Saurabh Singh Kushwah, Co-Founder, Fanory

Fanory is now able to track all live engagement metrics in addition to details like device type and location, to help improve its AI model. Fanory also plans to build its own interactive livestreaming solution shop where brands can engage with audiences and sell products.

Bengaluru/ Mumbai, 14th February 2024: LEO1, a leading Edu-fintech company, has introduced India’s first numberless prepaid student ID Card in partnership with NSDL Payments Bank and Mastercard as part of its Financial SAAS for Educational Institutions. This innovative card serves as a secure prepaid card and a student ID card, marking a significant step in digitizing financial transactions in educational institutions, rewarding responsible behavior, and promoting cashless campuses. This strategic alliance underscores LEO1’s unwavering commitment to financial innovation, inclusivity, and digital empowerment in the education sector.

In Mumbai, the launch event unfolded with great anticipation as the card was unveiled in the presence of Rohit Sharma, the Captain of the Indian Cricket team, before a distinguished gathering of officials from LEO1, Mastercard, and NSDL Payments Bank.

Powered by Mastercard, the new card will ensure a safe and secure payment experience for students, contributing to the shared vision of LEO1, Mastercard, and NSDL Payments Bank to promote digitization of financial transactions at educational institutes.

LEO1 transforms financial operations for educational institutions through its comprehensive Financial SAAS platform, empowering institutions with streamlined fee collection, enhanced transparency, and real-time insights. Institutions adopting LEO1’s Financial SAAS gain access to an array of modules designed to enhance fee collection operations and improve financial transparency, facilitating informed financial decisions for a more efficient and transparent financial management process.

LEO1’s integrated system encompasses various modules to enhance the overall student experience. The Rewards Module actively engages and motivates students by employing a dynamic rewards system, using LEO1 Coins to encourage timely fee payments. The Smart ID Card Module offers multifunctional smart ID cards, serving as versatile tools for students by combining access control, identification, and financial transactions into a single, convenient solution. Simultaneously, the Fee Management Module streamlines and automates fee-related processes, providing a seamless experience for both students and institutions. Complementing these features, the Financial Literacy Module empowers students with crucial financial knowledge through educational content and tools, contributing to an enhanced understanding of financial concepts.

Notably, LEO1 incentivizes responsible financial behavior by rewarding timely fee payments with LEO1 Coins, where each coin holds a value of one rupee. These coins can be redeemed across various platforms for discounts and vouchers, aligning with the broader mission of making education more accessible by potentially reducing or eliminating fees for students who consistently meet payment deadlines.

The LEO1 card stands as a transformative tool for parents, allowing them to send money digitally, monitor category-wise usage, and oversee overall spending. For students, it facilitates seamless transactions, including tap-and-pay for institute fees, retail purchases, online transactions, and ATM withdrawals, all while doubling as a multifunctional student ID card.

Rohit Gajbhiye, Founder and Managing Director of LEO1, expressed anticipation about the collaboration, emphasizing the mission to make quality education universally accessible. The partnership signifies a crucial stride in dismantling financial barriers, establishing an environment where stakeholders can confidently embrace digital solutions for fee payments.

Gautam Aggarwal, Division President, South Asia at Mastercard, said, “Backed by Mastercard’s promise of safe and secure transactions along with exciting rewards and deals, this new card will help in digitizing the education ecosystem. A key benefit to society at large is that it will encourage the youth to manage their spends from an early age, thereby inculcating responsible financial behavior in them.

“Strategically targeting the 18-23 age group, the collaboration extends beyond financial transactions, aiming to cultivate a digital mindset and foster responsible digital behavior and financial literacy among the youth.”

NSDL Payments Bank says: We are proud to introduce the student ID cum Prepaid Card, designed to streamline payment experiences for students. The versatile student ID cum Prepaid Card facilitates transactions seamlessly across all ECOM stores & POS stores. Together, we are shaping the future of payments and forging a path towards a seamless and uniform experience for educational institutions and students.

Mumbai, 14 February 2024: Godawari Electric Motors, manufacturers of the Eblu range of electric 2 and 3-wheelers, continues its stride towards sustainable mobility with the inauguration of the Express Motors showroom in Mumbai. Situated at Shop No 5 and 6 Neelyog Virat, off the Western Express Highway, Malad East, Mumbai 400097, this state-of-the-art facility marks a significant milestone in the company’s retail expansion strategy.

Under the ownership of Mr. Ashok S Kamble, Express Motors boasts a prime location with excellent accessibility and visibility from the bustling Western Express Highway. Spanning 600 sq ft with an additional 200 sq ft frontage, the showroom offers ample space for showcasing Godawari Electric Motors’ latest innovations in electric vehicles. The showroom exhibits the latest products from Godawari Electric Motors, such as the Eblu Feo, Eblu Rozee, Eblu Spin, Eblu Thrill, Eblu Reino, Eblu Reino DV with products available in the price range INR 22,000 to INR 3,65,000.

Commenting on the inauguration of the new showroom, Mr. Hyder Khan, CEO of Godawari Electric Motors said, “The opening of the Express Motors dealership in Mumbai fills us with ample joy and excitement. Our goal to enable citizens with access to eco-friendly mobility has reached a major turning point with our strategic alliance with Mr. Ashok S Kamble. Located in a prominent spot on the busy Western Express Highway, this showroom is a testament to our dedication to giving clients easy access to our most recent developments. Anticipating the grand opening event, we are sure that Express Motors will continue to maintain our standards of excellence while providing our valued clients with unmatched sales and service experiences.”

Distinguished by its strategic positioning amidst other prominent electric vehicle showrooms, Express Motors stands as a beacon of choice for customers seeking eco-friendly transportation solutions. The customers can explore a comprehensive range of product options all under one roof.

Expressing enthusiasm, Mr. Ashok S Kamble, Owner of Express Motors noted, “It is with great pride and enthusiasm that we announce the inauguration of Express Motors showroom in Mumbai, in collaboration with Godawari Electric Motors. This partnership represents a shared vision of promoting sustainable mobility and empowering communities with eco-friendly transportation solutions. Located strategically at Neelyog Virat, our showroom offers customers a diverse range of electric 2 and 3-wheelers, backed by Godawari Electric Motors’ legacy of excellence. We are committed to providing top-notch service and fostering a positive customer experience, and we look forward to serving the community and contributing to a greener future together with Godawari Electric Motors.”

New Delhi, 14th February 2024: Cosmo First Limited today declared its financial results for the quarter ended December 2023.

During the quarter, the domestic margin both BOPP and BOPET shrank further due to desperate and below cost selling resorted by the industry. The company could withstand the disorderly market movements and outperformed the industry at large on the strength and growth of its speciality film business. The near-term outlook in terms of BOPP and BOPET margins remains hazy.

The company recently launched metallized capacitor film for electronic industry and Rigid Packaging for FMCG industry. Market response has been very good, and the company expects to hit full capacity utilization in the next 2-3 quarters and add to EBITDA earnings.

Zigly has undergone revamping of its IT infrastructure making it future ready for harnessing the exponential growth of Petcare industry in India. The marketing attribution has been rapidly improving with improvement in RoAS (Return on Advertising Spends) and other key performance parameters.

The Speciality Chemical subsidiary is progressing as per plan and is at the cusp of delivering double digit EBITDA and high teens ROCE from FY25.

The company’s credit rating has been re-affirmed by CRISIL as AA- with stable outlook in January 2024.

Commenting on Company’s performance Mr. Pankaj Poddar, Group CEO, Cosmo First Ltd said “While short term challenge remains due to adverse packaging film margin, the company continues to build speciality films vertical and plans to launch high value-added sun control film (Cosmo Sunshield) in FY25. In the next 12-18 months, Speciality BOPET films, Sunshield films, Rigid Packaging and Specialty Chemicals would start adding to the company’s overall profitability. With the exponential growth of pet care industry in India, Zigly would surely be a winner and a significant wealth creator for the Company’s shareholders”.

National, 14th February, 2024: Motion Education, a leading institute for NEET and JEE preparation, registered an exemplary performance in JEE Main with more than 22 students scoring above 99.9 percentile in the Session 1 exam.

Among the list of top performers, Ishaan Gupta scripted a stellar performance and brought great laurels to Motion Education by scoring 100 percentile, followed by Amar Sinha and Visharad Shrivastava with 99.9923 and 99.981756 percentile respectively. Looking at the result, the students have outperformed in the JEE exam and raised the bar with the result.

Speaking on the occasion, Nitin Viijay, the Founder & CEO of Motion Education Pvt Ltd said, “The performance of the students in the exam is a testament to their hard work, persistence, and determination put in the preparation of the exam. Qualifying the exam opens their gateway for admission to the most coveted engineering colleges in the country. The announcement of the result will help students plan their strategy ahead for the remaining exam. As Session 2 is scheduled to take place in April, aspirants can analyse the performance of Session 1 to thrive in other exams to take left to take place in future.”

Motion Education Pvt. Ltd. is a leading coaching institute in Kota that offers courses for the preparation of JEE-MAIN & ADVANCED, NEET, AIIMS, NTSE, KVPY, Olympiads, and Board. The institute aims at improving the selection ratio of the students rather than just focusing on the top performing students.