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New Delhi, Aug 6: GM Arjun Erigaisi-led Team MGD1 banked on their all-Indian star cast to clinch the silver medal in the inaugural World Blitz Team Championships, a club-based event conceptualized by world chess governing body FIDE, in Astana, Kazakhstan.

In the final against Team WR Chess, Arjun, the highest rated Indian GM in Classic Ranking, upset former world champion and world no. 1 Magnus Carlsen on the top board in Round 1.

But the Norwegian’s teammates won on the other boards to give the team a comfortable lead. Team MGD1 put up a strong fight in the second round to hold the eventual champions 3:3 but that was not enough to take the match into play-off.

“Beating Magnus Carlson in any format is special and I really enjoyed playing against him. But more than that win, it’s the collective performance of the team that helped us with the silver medal was very special. The way we bonded and fought for each other makes this medal so special,” said Arjun.

The inaugural edition of the World Blitz Team Championships saw 40 teams compete in group-cum-knock out format in a one-day event that also carried a prize purse of 100,000 Euros. Each team had one female player and one amateur in their lineup.

Team MGD1, which also had GM Srinath Narayanan, SL Narayanan, B Adhiban, former world championships bronze medallist D Harika and amateur Mihir Shah in their squad, dominated Pool B by winning all their seven matches. In round 3, they demolished World Rapid Team Champions Al-Ain 4.5-1.5 to underline their claim for a podium finish and then lived up to the expectations in the knock-out stage.

“It’s a very proud moment for all of us that we have won a silver medal in the World Blitz Team Championships, beating some of the best players in the world. We at MGD1 are committed to the development of chess in India and that is one of the reasons we fielded an all-Indian line-up in Astana and the players rose to the occasion,” said MGD1 co-founder Sreekar Chennapragada.

The Indian outfit raced through the Round of 16 against Astana-2 and quarterfinals against Israel’s Ashdod Chess Club respectively to reach the last four stage.

MGD1 once again faced Al-Ain in the semifinals and were taken to a tie-breaker after both the rounds ended in a 3:3 draw. The Indians then raised the bar in the Play-off winning 5.5-0.5 to set up a summit clash against WR Chess.

New Delhi, 6th August 2024: Eicher Trucks & Buses, a business unit of VE Commercial Vehicles, has been setting benchmarks in providing a connected ecosystem to its customers through 100% connected vehicles supported by industry first uptime centre and first-of-its-kind next-generation fleet management app, My Eicher. Successfully serving, 1,15,000 customers across India, MyEicher now connects over 2,75,000 trucks and buses to Eicher’s Uptime Center.

With three key functions including enhanced fleet management support, superior uptime assistance, and smart fleet solutions, the award winning MyEicher app acts as a centralized platform for services addressing customer needs through their vehicle ownership journey. The key services include in-depth fleet health assessment, efficient fuel management, comprehensive fleet insights, superior aftermarket services and systematic trip management services.

Key Benefits of the App:

Fleet Tracking: The app offers comprehensive tracking features to enhance your vehicle management through three key feature including live tracking, tracing the past trips and geo fencing. Users can monitor their vehicle’s live location and track critical parameters such as the odometer, fuel levels, DEF, and fuel efficiency (FE). The app allows for the sharing of current and live locations of vehicles and provides a live vehicle cluster for real-time dashboard views. My Eicher users can create custom Point-of-Interests (POI) and routes relevant to their business operations. After creating POIs and routes, customers receive automated reports and insights about their trips with fuel efficiency, vehicle utilization and stoppage report.

Aftermarket service: Users can effortlessly book service, report breakdowns (automatically fetching the location for connected vehicles) and stay informed about the real-time status of their vehicle repairs.

Uptime Management: To ensure excellent fleet health, Eicher’s industry-first Uptime Centre tracks all the connected vehicles 24×7 to monitor driving conditions and vehicle health. Through its Artificial Intelligence (AI) and Machnie Learning (ML) powered predictive diagnostics service, Eicher experts can detect potential damage to the vehicle in its running conditions and alert customers through call and predictive uptime alerts via My Eicher App. Customers also receive information about the nature of the fault, recommended action (through videos & documents) and status of the support issue. They can view the live vehicle cluster in real time to track their vehicles’ health and performance.

Fuel Management: Fuel cost is the largest expense for any fleet operations. Hence, monitoring and optimizing fuel expenses is critical for every transport business. The Fuel Management feature of My Eicher allows customers to keep track of all fuel refill and drain (pilferage) events (if any) and any other adblue fill events for their fleet. Customers can get the time, location and quantity of all fuel added or drained for better transparency and reduced manual dependency.

Fleet Insights: Fleet Insights allows users to monitor more than 50 parameters across Vehicle Utilization, Fuel, Safety & Driving Behaviour. It offers actionable insights through which customers can analyze and benchmark the performance of their vehicles as well as the drivers. The insights further help in generating custom reports, comparing vehicle performance, scheduling email deliveries, and setting alerts for fuel, uptime and driving behaviour.

Connected EV services: To monitor the charging patterns and track EV vehicle performance, My Eicher has Charging Management module which contains Charging Summary, Charge & Discharge graphs along with reports consisting of EV parameters. The customers can also check CO2 emissions and equivalent diesel savings achieved by their EV vehicles.

Value added service: Value-added services include other services where the customers can exchange and buy used trucks via Eicher Sure as well as locating nearby touchpoints such as dealers, workshops etc. The Knowledge Center offers useful information regarding the vehicle, maintenance, etc.

Marketplace: Explore Smart Solutions such as Vehicle Immobilizer, AIS-140, School Bus Solution, GPS telematics for Pre BSVI vehicles, Mining Solutions and Reefervan. The Marketplace also lets the customer utilize Eicher e-Shoppe for parts and accessories.

In the Commercial Vehicle and Logistics industry, there is a common saying that earnings only happen when the vehicles wheels are turning. Recognizing the importance of Vehicle Uptime, Eicher Trucks and Buses was the first to introduce 100% connected range of trucks and buses in India. This was backed by an industry benchmark 24X7X365 Uptime Center supported by a network of Uptime Certified workshops. Today, 2,75,000 Eicher Trucks and Buses are monitored 24X7X364 and backed by close to 1000 service points and thousands of parts distribution outlets across the country.

New Delhi, 05 August, 2024 — Le Marche, Delhi’s premier grocery supermarket, proudly announces the opening of Le Marche Select at DLF Promenade. This new location promises to deliver an unparalleled shopping experience, marked by live counters and a gourmet assortment of high-quality products.

Since its inception in 2005, Le Marche has been synonymous with premium grocery shopping in Delhi. The acquisition by DS Group in 2017 marked a transformative phase for the brand, driven by a vision of strategic expansion and professional excellence. Under the stewardship of DS Group, Le Marche has undergone a comprehensive re-evaluation of its core value proposition, resulting in a strengthened infrastructure, high-performance culture, and cutting-edge IT systems.

Le Marche Select at DLF Promenade: A Curated Experience
At Le Marche Select, customers can expect not only an extensive range of high-quality products but also a shopping environment designed to provide convenience, comfort, and a touch of luxury. The upgraded store layouts and infrastructure reflect the brand’s commitment to delivering a superior shopping experience.

Mr. Ritesh Kumar, Marche Retail Pvt Ltd said, “We are thrilled to announce the opening of the new format Le Marche Select store at DLF Promenade. We welcome all food enthusiasts and discerning shoppers to explore our new store and experience the difference first-hand.”

5^th August’24, New Delhi, INDIA: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for July’24.

FADA Vice President Mr. C S Vigneshwar provided insights on July 2024’s auto retail performance, stating, “Following a deficient June, monsoons in India have intensified, resulting in above-normal cumulative rainfall for July. However, the geographical distribution was uneven, with Southern and Central India receiving excess rain, while 10 meteorological divisions experienced a double-digit deficit. Kharif sowing has increased by 2.3% since last year, but these figures are somewhat misleading due to poor sowing activity in the previous year caused by El Nino disruptions. Compared to July 2023, the sown area has actually decreased by 2.4%, according to experts.

Despite these challenges, India’s automobile retail sector saw a YoY growth of 13.84%, with almost all categories witnessing an increase. Two-wheelers (2W) grew by 17%, three-wheelers (3W) by 13%, passenger vehicles (PV) by 10% and commercial vehicles (CV) by 6%. Tractors, however, continued to underperform, falling by 12% YoY.

The 2W segment experienced notable growth due to a thriving rural economy, positive monsoon effects, and government support programs enhancing rural incomes. The introduction of new products and better stock availability also contributed significantly, despite market slowdowns in certain regions, excessive rains, and increased competition. The segment also saw an increase in EV sales due to discounts and EMPS scheme deadline.

PV sales saw a robust 14% growth, driven by new model launches and attractive pricing strategies. Dealers reported benefits from good product availability, attractive schemes, and a wider range of products. Nonetheless, heavy rains, low consumer sentiment, and intense competition posed challenges. Some dealers managed to sustain sales through strong promotions and incremental discounts.

However, this growth is accompanied by a significant concern. Inventory levels have surged to a historic high of 67-72 days, equating to Rs 73,000 crores worth of stock. This poses a substantial risk for dealer sustainability, necessitating extreme caution. FADA urges PV OEMs to be vigilant about potential dealer failures due to these high inventory levels. It is also crucial for the Reserve Bank of India to mandate financial institutions to implement stringent checks before releasing inventory funding, preferably requiring dealer consent or collaterals to prevent the escalation of NPAs.

CV retail sales showed a 6% YoY growth, with dealers reporting mixed sentiments. Positive factors included growth in the construction and mining sectors, while challenges such as continuous rainfall, negative rural market sentiment, poor finance availability, and high vehicle prices were also noted. Some dealers achieved growth through small bulk deals and leveraging increased market reach and product acceptability.”

 Near-Term Outlook

The near term outlook across the auto retail segments shows a blend of optimism and caution. 2W sales are expected to be buoyed by factors such as a growing rural economy, positive monsoon impacts and the introduction of new products. The festive season beginning after the Aadi festival and favourable agricultural conditions are also likely to contribute to increased sales. However, heavy rainfall, ongoing agricultural activities and inconsistent monsoon patterns may dampen demand in certain areas.

 PV could see mixed results. While the festive season, attractive schemes and good monsoon are expected to boost sales, concerns over low consumer sentiment, heavy rainfall and a lack of new product launches persist. High inventory levels pose a significant risk and it is crucial for PV OEMs to avoid further increases in stock to prevent financial strain on dealers. CV face a modest outlook, with positive factors including improved market reach and the festive season, tempered by challenges such as bad freight rates and ongoing rainfall.

The Indian Meteorological Department (IMD) predicts that rainfall in the second half of the monsoon season (August-September) is likely to be ‘above normal’ due to the potential formation of La Nina conditions. While August may see a brief break in the monsoon, overall rainfall for the two months is expected to remain high, which is crucial for Kharif sowing and standing crops. However, excessive rains could lead to city flooding, floods in low-lying areas and landslides in hilly regions, potentially impacting auto retail sales.

 The auto retail market is cautiously optimistic for the near term, driven by positive monsoon effects, the festive season, and some product launches. Nonetheless, challenges such as heavy rainfall, high inventory levels in the PV segment, and economic uncertainties warrant caution. Effective inventory management and stringent financial checks are essential to sustain growth and mitigate financial risks, ensuring the stability and health of the auto retail sector.   

 Key Findings from our Online Members Survey

•  Liquidity
• • Neutral              50.22%
  • Good                  25.97%
  • Bad                     23.81%
•  Sentiment
• • Neutral               45.89%
  • Good                  29.87%
  • Bad                     24.24%
•   Expectation from August’24
• • Growth               51.08%
  • Bad                     38.10%
  • De-growth         10.82%

 Chart showing Vehicle Retail Data for July’24

 All India Vehicle Retail Data for July’24

Source: FADA Research

All India Vehicle Retail Strength Index for July’24 on basis of Urban & Rural RTOs.

Source: FADA Research

Source: FADA Research

Motor Vehicle Road Tax Collection (in Rs Crore)

Source: FADA Research

New Delhi, August 2, 2024: India’s digital revolution will likely lead to 1 billion UPI transactions in the next few years. Currently, India is emerging as a world leader in digital payments by accounting for 46% of all digital payments in the world. Leveraging digital payments is an unmissable strategy for businesses in India’s growing digital economy.

However, the rise in digital payments has also led to a rise in online fraud. In the past three years alone, online scams have caused a collective loss of Rs. 1.25 lakh crore. In response, the Reserve Bank of India (RBI) has established various committees focused on protecting individuals and businesses, and the financial sector is increasingly turning to cutting-edge technology to tackle these threats.

Technology plays a crucial role in safeguarding businesses from online fraud while enabling them to benefit from the country’s growing digital economy.

Akash Sinha, CEO & Co-Founder, Cashfree Payments said, “In today’s digital landscape, prioritizing safety and security against fraudulent transactions is crucial for businesses to avoid financial losses and protect their reputation. Leveraging technology-driven innovations that use AI and ML algorithms can significantly enhance defenses against fraud. These advanced solutions are transforming the security framework for online transactions in India, providing merchants with unmatched protection and peace of mind.”

Today, secure payment solutions are required to protect businesses from fraud-related losses and build trust with customers.

“Many businesses either overlook the importance of fraud and risk detection tools or use ones that can’t stop fraudulent transactions in real-time. Additionally, creating effective fraud solutions often requires special certifications. However, it’s crucial to recognize that when customers feel secure about their transactions, they’re more likely to make repeat purchases and recommend the business to others, which drives growth.” , Akash said.

Payment solutions that are technology-driven have complete risk management capabilities. Data security measures like encryption and tokenization ensure that all customer data is protected, reducing the chances of data breaches. Furthermore, robust risk management systems can assist companies in meeting regulatory obligations, thereby reducing additional risks.

Sinha added, “At Cashfree Payments, we have built ‘RiskShield’ through extensive research to provide businesses with a comprehensive risk management solution to combat cybercrime. Designed to address issues such as high chargebacks and fraud, RiskShield is effective across various sectors including financial services, e-commerce, and travel. Utilizing advanced AI and ML algorithms, RiskShield helps businesses reduce fraudulent activities by up to 40%.”

In the modern business world, companies can only succeed if they begin to invest in sophisticated fraud detection systems, secure payment gateway technologies, and extensive customer verification procedures.

New Delhi, 2nd August 2024: Motorola, a global leader in mobile technology and innovation  launched the motorola edge 50 in India. A smartphone which is full of life, full of art and engineered for effortless creative expression. The motorola edge 50 is the latest addition to Motorola’s premium category of edge smartphones and it comes with numerous disruptive features such as an MIL- 810H military grade durability and IP68 underwater protection which makes it the world’s slimmest IP68 MIL-810H miliary graded certified durable smartphone. It features the segment’s best moto AI powered camera with Sony sensor LYTIA 700C and also boasts a 6.7” 1.5K Super HD+, HDR 10+ pOLED curved display along with various other premium features.

The motorola edge 50 is thoughtfully crafted with a sense of harmony and it gives a comfortable in hand feel with symmetrical curves flowing through every element of its design. Starting from the soft, natural-feeling vegan leather and vegan suede finish to the exceptionally slender and lightweight body with a streamlined camera housing makes the smartphone feel premium and comfortable to hold. The design of the motorola edge 50 is as durable as it is elegant. Offering never before seen standards of durability with an IP68 rating, which means it can withstand dust, dirt, and sand, along with submersion in 1.5 meters of fresh water for up to 30 minutes. Additionally, Motorola is pushing the boundaries of smartphone technology with the edge 50 as it boasts latest military standards MIL-STD-810H for durability, which implies that the smartphone has passed 16 rigorous tests for durability and extreme environmental conditions and can withstand shocks, vibrations, accidental drops, extreme temperatures, high humidity, low altitude pressures and more, all while maintaining a sleek, perfectly balanced design. Even the display is protected against cracks and scratches with Corning® Gorilla® Glass 5, so users never have to worry about accidental damage to the phone.

The motorola edge 50 features the pro level Sony – LYTIA™ 700C Camera sensor with incredible AI features powered by motoAI and google photos AI. The 50MP main camera uses the Sony – LYTIA™ 700C sensor for ultrafast capture with low noise in dark environments and the Ultra Pixel sensor captures more light with larger 2.0µm pixels. Users get true-to-life images with more detail, richer colors, and subtle textures owed to moto ai which works in the background, instantly analyzing the photo and blending exposures. Motorola is introducing a new Auto Night Vision feature which allows the users to capture stunning low-light shots 15x faster than the previous generation. This is Motorola’s fastest Auto Night Vision ever, automatically detecting ambient lighting and adjusting the settings accordingly, so users can click photos in low light and never miss the perfect moment. Its 10MP telephoto camera captures subjects at a distance with incredible detail and users can see every scene clearly from 3x the distance with optical zoom, or use advanced hybrid zoom for 30x the distance. Optical Image Stabilization smooths out unwanted shakes and moto ai helps retain the details, achieving crisp and beautiful results even when zoomed all the way. The third sensor in the rear camera system of the edge 50 is a 13MP Ultra-Wide camera with Macro Vision. It expands the user’s view, allowing them to take stunning shots of landscapes with a 120º ultra-wide angle lens which can capture what the eyes see, fitting more of the scene in the frame than a standard lens. For extreme close ups, there’s built-in Macro Vision, which brings users 4x closer to the subject than a standard lens, so they can capture tiny details as close as 3 cm away from the camera. On the front, the motorola edge 50 flaunts a 32MP selfie camera which can shoot breathtaking videos in 4K resolution and deliver 4x better low-light sensitivity with Quad Pixel technology, which combines every four pixels into one for brilliant results.

Working behind the camera sensors, moto ai image processing analyzes multiple frames of a photo and blends exposures to create a true-to-life image. Unlike other methods, it works directly on the uncompressed image to preserve hidden details, richer colors, and subtle textures. And these moto ai enhancements apply to videos, too. For instance, when recording a video, Adaptive Stabilization will automatically adjust to the user’s movement, providing extreme stabilization when they need it. The edge 50 users can also opt for the Long Exposure feature to hit on moving water or light trails with a single tap—no professional equipment needed. Users can access amazing google photos editing and AI tools, including Magic Editor, Magic Eraser, Photo Unblur, and more to effortlessly enhance your photos and videos and bring memories to life. AI Magic Eraser removes unwanted background distractions in just a few taps. Users can reimagine their photos with Magic Editor using generative AI and can edit, hold and drag to reposition, or pinch to resize.

Apart from camera features, moto ai also bring couple of generative AI features such as style sync with AI generative theming, magic canvas with text to prompt image generation, and several other cutting-edge innovations.

The motorola edge 50 boasts an incredible 6.7” 1.5K Super HD curved pOLED display with 1600 nits peak brightness and nearly borderless bezels. Users can enjoy clearer, more vibrant pictures with sharper details and less pixelation owed to Super HD (1220p) resolution, which delivers 13% better resolution than the previous generation and even watch HDR10+ movies, shows, and more in a billion shades of true-to-life color. The ultra-fast 120Hz refresh rate makes switching between apps, playing games, and scrolling through content incredibly smooth and fluid. Plus, the refresh rate adjusts automatically based on the type of content on the screen, and with a low latency 360Hz touch rate, users will experience far more responsiveness than a standard display. Its vivid pOLED HDR10+ display delivers infinite contrast of deeper blacks and over a billion colors with wide DCI-P3 color range standards. Moreover, high brightness mode automatically adjusts the display outdoors so it’s easier to see, capable of reaching peak brightness levels of up to 1600 nits. It also features stereo speakers with Dolby Atmos for an immersive multimedia experience. Users can listen to professional-level audio thanks to the Hi-Res certified sound system. With wider dynamic range and 3x more data rate, they won’t miss any details and just experience music as the artist intended, listening to Hi-Res audio on streaming apps, on both wired and wireless headphones or external speakers.

In terms of processing power, the motorola edge 50 is powered by a Snapdragon® 7 Gen 1 Accelerated Edition. It is built with superior 4nm technology that will deliver years of proven performance and users can unlock amazing AI-powered experiences, use pro-level photography features, watch smoother content, and enjoy outstanding power efficiency. While being future proofed for upcoming networks thanks to 5G and Wi-Fi 6E support. This high-performance device is backed up by a massive 5000mAh battery and 68W TurboPower™ charger so it fuels up fast. Plus it also comes with the segment leading 15W TurboPower™ wireless charging for a hassle-free charging time. There is also support for reverse power charging to charge other devices in the ecosystem.

With 256GB of built-in storage, users have tons of room for their favorite shows, movies, songs, apps, and games. Plus, RAM Boost temporarily turns available storage into virtual RAM whenever they need some extra speed, so they can open apps faster and switch back and forth with ease. Apps and information stay ready in the background with up to 8GB of RAM so everything runs smoothly. Furthermore, the motorola edge 50 uses advanced thermal components to regulate heat produced during high performance. With a large 4516mm chamber, it distributes heat more effectively to keep the CPU cooler, improving thermal performance by 70% compared to the previous generation edge device.

Speaking on the launch, Mr. T.M. Narasimhan, Managing Director, Motorola India said “The motorola edge 50 addresses a significant need of smartphone consumers by being the perfect fusion of the bold durability focused design and a premium, ultra-sleek design. Being the world’s slimmest device with IP68 underwater protection and MIL-810H military grade certification for durability from the U.S Department of Defense, the phone does not compromise on any aspect by offering a stand-out camera, display and advanced moto AI experiences. We’re confident that the motorola edge 50 will deliver a revolutionary smartphone experience to our customers.”

With the launch of the motorola edge 50, comes the intuitive Hello UI with all Moto apps at one place and latest Android 14 with assured 2 OS upgrades and 3 years of security updates. Hello UI features include Smart connect, Moto Gestures, Moto Secure with Thinkshield, Family Spaces and Moto Unplugged. It also offers Moto Premium Care for after sale service benefits.

New Delhi, 1st August 2024: ASSOCHAM organized a special session on ‘Bharat@100: Leveraging unprecedented opportunities’ Shri Piyush Goyal, Hon’ble Minister for Commerce & Industry, Government of India graced the event as the Chief Guest. A book titled India@100: Envisioning Tomorrow’s Economic Powerhouse authored by Dr K V Subramanian, Executive Director, IMF was launched by Hon’ble Commerce and Industry Minister.

Speaking at the event, Shri Piyush Goyal, Hon’ble Minister for Commerce & Industry, Government of India said, “We have the ability, we have the willingness, the desire, we have the talent, skill and capability. As policy makers we have the intent and are deeply committed to making India a developed nation by 2047. The focussed efforts towards self-sufficiency in defence, electric mobility and enhancing the quality of our manufacturing setups combined with enhanced transparency and technology adoption will help us have a stronger currency and a stronger macro-economy to get us to a $55 trillion economy.”

“Our economy will be at $5 trillion in the next 3-3.5 years making us the third largest economy in the world. As we increase our shipping, focus on electric mobility and become sufficient in defense, we are looking at a rupee appreciation. We can replicate, if not better, the China story between 2000-20.” added the minister.

Mr Krishnamurthy Subramanian examines this once-in-a-century opportunity that is knocking on India’s doors in India@100: Envisioning Tomorrow’s Economic Powerhouse. India@100 makes a strong case that India is at a turning point that cannot be disregarded, with a daring vision based in Indian realities. Four major pillars—the macroeconomic emphasis on growth, the microeconomic focus on social and economic inclusion, the vision of ethical wealth creation, and the strategy of a virtuous cycle sparked by investment—are examined by Subramanian through meticulous research and perceptive analysis. He thoroughly discusses the options for policy and the areas in need of reform within each pillar.

India@100 effortlessly ignites the reader’s imagination and inspires a collective drive towards a future where India emerges as a dominant economic force. This is an invaluable book for anyone interested in the rise of the Indian economy.

Addressing the august gathering Shri Deepak Sood, Secretary General ASSOCHAM said, “The significant strides that the country has made in the preceding years is not by chance, it’ is by design, and the last 10 years are a testament of that. India is a highly resilient economy. A few years ago, becoming the 5th largest economy was our dream and today we are talking about becoming the 3rd largest economy in the world and there’s a lot of work that needs to go in. India has successfully earned global trust and we did this by leveraging our demography, our large market and therefore building the right capacities for making things happen.”

RR Kabel Limited Reports Highest Ever Quarterly Revenue

New Delhi, July 31, 2024 – RR Kabel (RRK), the leading consumer electricals player & strong presence in Fast Moving Electrical Goods (FMEG) has announced its Unaudited Financial Results for the quarter ended on June 30, 2024.

Commenting on the Results, Mr. Shreegopal Kabra, MD said, – “We are pleased to report our highest ever quarterly revenue, driven by strong volumes in both our wires and cable domestic businesses and FMEG business, despite the challenges posed by elections and heatwaves. This achievement highlights our solid position in the industry. We remain committed to our growth in FY25, while continuing to focus on sustaining margins amidst volatile copper prices. The outlook remains strong with government capital expenditure and a resilient residential sector. Our FMEG segment also saw significant growth due to our strategic decisions. We continue to focus and accelerate on expanding capacity, targeting high-margin products, and implementing strategic initiatives to lead us in FY25.”

New Delhi, India, July 30, 2024: Strides Pharma Science Ltd . announced its consolidated financial results for the quarter (Q1FY25) ended June 30, 2024.

Adjusted PAT = PAT from continuing operations without JV share and exceptional items

Arun Kumar, Founder & Executive Chairperson, and , 

Badree Komandur

MD & Group CEO, commented on the performance and said, “Our emphasis on profitability, efficiency and growth has led to a strong performance across markets, allowing us to deliver superior returns ahead of the projected timelines for our FY25 outlook.

The company achieved critical thresholds of 20% EBITDA margin, ₹683m of reported PAT and 2.3x Debt/EBITDA ratio. We are confident of sustaining the momentum with continuous improvement in the quality of business.

The company has increased its focus on digitization, automation, and ESG for better compliance and business outcomes.”

30th July 2024, New Delhi: With the mid-year online sales by multiple marketplaces coming to a close, Unicommerce, one of India’s leading e-commerce enablement SaaS platforms, analysed over 8.5 million order items processed through its platform to uncover trends during this sale period.

Analysis of orders processed through the Unicommerce platform shows that customers cashed in on the mid-year sales offers extended by multiple marketplaces with 16% order volume growth during the week-long sale period between 19th – 25th of July 2024. This volume growth is in comparison to the 2023 mid-year sales that took place between 14th – 20th July last year. The volume growth was accompanied by an upward trend in gross merchandise value, which grew 19% YoY in 2024 over 2023.

While marketplaces offered attractive discounts across different categories, the rising consumer focus on healthy products and nutraceuticals noted higher demand leading to an impressive YoY order volume growth of over 78% in the health & pharma segment during the sale period in 2024. Categories including FMCG & agriculture and beauty, wellness & personal care also witnessed a YoY order volume growth of over 48% and 21% respectively during the sale period this year.

Products including protein supplements & muscle gainers, anti-aging collagens, face serums and ayurvedic shampoos among others witnessed higher consumer demand during the period. The average order value in the electronics & home appliances category (excluding mobile phones) increased more than 24% in 2024 sales as compared to the sales in 2023. Trends analysed by Unicommerce indicate higher consumer spend on electronic items like RO & water purifiers, smart tv stabilisers, lunch boxes and water kettles etc.

Unicommerce’s integrated e-commerce enablement SaaS platform enables end-to-end management of e-commerce operations for D2C brands, brand aggregators, traditionally offline brands, marketplaces, logistics players, and SMBs through a comprehensive suite of SaaS products. The company serves e-commerce brands and retailers across several categories. Some of Unicommerce’s clients include names like Lenskart, Zivame, Fabindia, TCNS (W, Aurelia), Mamaearth, Pharmeasy, WoW Skin Science, SUGAR Cosmetics, BoAT Lifestyle, Portronics, Emami, Cello, GNC and GOAT Brand Labs among others.