Archives August 2023

Kalyan, August 18, 2023: Celebrating Independence Day in schools holds paramount significance as it nurtures a profound understanding of national history and values among students. On August 15, 2023, Sunteck Foundation by Sunteck Realty organised a National Flag Hoisting ceremony at Saneguruji Primary School, a KDMC institution for underprivileged children in Aadhar Wadi, Kalyan West. This initiative aimed to celebrate the Independence Day by uniting students of diverse origins to honour the nation’s freedom and show reverence to our national heroes.

Speaking about community development, Anupma Khetan, Customer Experience Evangelist, Sunteck Realty, said, “Sunteck actively engages in collaborative efforts for community development, aiming to drive social and cultural progress. Through empowering engagements, we foster sustainable growth, resulting in vibrant neighbourhoods that reflect our commitment to enhancing the welfare of the community.”

The school children of Saneguruji Primary School, accompanied by the faculty and volunteers, actively engaged in the flag hoisting ceremony. The collective rendition of the National Anthem resonated with immense pride, symbolizing their shared patriotism.

Speaking about the initiative, Dr. Anita Dhairysing Tayade/Koli, Principal, Saneguruji Primary School, expressed, “We extend our gratitude to Sunteck for their generous support. Such support aids us in enhancing education and fostering an environment that nurtures a sense of belonging and community among our students. This, in turn, boosts enrolment and attendance of children.”

Engaging in patriotic activities instils pride in students, fostering an understanding of freedom’s significance and promoting active citizenship.

Mumbai,18th August 2023Women-run small and medium enterprise (MSME) customers availed INR 430 crore worth of loans accounting for a significant portion (24%) of overall loans (total disbursals of close to INR 1,900 Cr. in

FY 2023) disbursed to MSMEs, according to the NeoGrowth Impact Report 2023.The report stated that more than 2600+ women-owned MSMEs availed of business loans in the last fiscal year. NeoGrowth is an MSME-focused digital lender in India, leveraging the digital ecosystem.

Released annually, the 9th edition of the NeoGrowth Impact Report showcases the transformative influence of the Company’sloans on the lives of MSME borrowers, alongside its commitment to sustainable business practices, digital integration, and fostering an inclusive credit ecosystem while maintaining the highest level of governance.The data covered in the report pertains to FY 2022-23.

Achieving UN’s Social DevelopmentGoals

NeoGrowth’s approach to lending is centered on creating a positive impact by setting a distinctive standard for financial inclusion in India. Importantly, NeoGrowth’s business activities are aligned to 6 out of 17 United Nations SDGs and it is constantly working towards holistically contributing towards them. NeoGrowthhas delivered on key UN SDGs including Good Health and Well-being; Gender Equality; Industry, Innovation and Infrastructure; Decent Work and Economic Growth in terms of value and volume.

The 17 social development goals are the key objectives set by the United Nations in 2015 towards sustainable development and were created to serve as a “shared blueprint for peace and prosperity for people and the planet now and into the future”.

The company disbursed close to INR 500 Crore to MSMEs in Tier-II cities. Almost 50% of the total loans were advanced to emerging small businesses that have been in operation for less than or equal to 5 years.

Based on an impact survey conducted with over 250NeoGrowth customers across 7 cities, 84% of respondents were self-starters, who were the first in their families to establish a business. The interviewed MSME owners witnessed an18% increase in female employees post availing a business loan from NeoGrowth. Almost 1/4th of the MSMEs expanded their business with the loan.

“At NeoGrowth, we are not only building a sustainable, inclusive and purposeful ecosystem for MSMEs in India to bridge the credit gap but also achieving six important social development goals set by the United Nations,thereby contributing towards holistic growth. All our customers come with unique business stories, and we are proud to be associated with small business owners from over 75 industry segments. It is our unwavering commitment to empowerfirst-generationentrepreneurs, supportwomen-run businesses, and promotefinancial inclusion, thereby contributing to a thriving and inclusive economy. MSMEs are driving the growth of India’s economy and will continue to spearhead the realisation of India’s USD 5 trillion economy vision,” said Arun Nayyar, Managing Director & CEO of NeoGrowth.

The loans extended by NeoGrowth also have a snowball effect on MSMEs, which includes job creation, improvement in credit score, female entrepreneurship, and digitalization of MSMEs, among others.

The Company crossed the INR 2,000 Crore Assets Under Management (AUM) mark as on June 30, 2023, at the end of the first quarter of FY 2023-24. Present in 25+ cities and catering to 75+ MSME industry segments, NeoGrowth has disbursed over USD 1 Billion since its inception.

Bangalore, 18th August 2023: Pidilite Industries Ltd., a leading manufacturer of construction & specialty chemicals and art & craft products is pleased to announce the appointment of Manish Dubey as its Chief Marketing Officer (CMO).

Mr. Bharat Puri, Managing Director, Pidilite Industries said, “We are delighted to welcome Manish Dubey to the Pidilite family. His deep expertise in branding, digital marketing, and leadership will undoubtedly strengthen our marketing strategies and contribute to our continued success.”

In his prior role at ICICI Prudential Life Insurance, Manish held the position of Chief of Marketing & E-Commerce. An alumnus of IIM Bangalore, Manish has also held senior marketing positions across other well-known companies like General Mills and Asian Paints.

Sharing his thoughts on this significant move, Manish Dubey, Chief Marketing Officer, Pidilite Industries, stated, “Pidilite’s focus on building iconic brands and solid customer connect keeps them at the industry forefront. I’m excited to join the company and use my experience to further drive impactful marketing and digital strategies.”

World Photography Day is a poignant reminder of photography’s journey, evolving from a profession to a medium of personal expression. It’s a day honouring the art of capturing moments and emotions powered by technological prowess. In the current era, smartphones have assumed the role of all-in-one tools for communication and creativity, with a strong emphasis on photography and content creation.

As we commemorate this day, we recognize technology’s pivotal role. And what better way to celebrate it than by embracing the capabilities of the right smartphone? Among the pioneers in this domain is OPPO. The recently launched Find N2 Flip and Reno10 Pro+ 5G stand as a testament to OPPO’s legacy in pushing the boundaries of smartphone photography. These cutting-edge offerings demonstrate OPPO’s commitment to providing users with proprietary camera advancements that enable them to effortlessly capture professional-quality photos and videos, ushering in a new era of visual storytelling.

The OPPO Find N2 Flip is a fusion of flagship cameras and a flip-style design. Its 50MP Sony IMX890 main sensor captures dynamic, detailed photos with omnidirectional focusing, rendering subjects sharp while blurring backgrounds softly for dynamic, detailed images. For 4K videography, the hardware-level DOL-HDR captures short and long exposures. OPPO has worked closely with Hasselblad to integrate the Hasselblad Natural Colour Solution, ground up, into the camera system. The unique colour-processing system kicks into action when you press the shutter button to optimise colour accuracy, tone, and contrast to deliver consistent and accurate results. The Partnership with Hasselblad runs deep with its XPAN mode, which features a 65:24 high aspect ratio to capture the camera brand’s unique retro style. Furthermore, the Find N2 Flip recreates the Hasselblad shooting experience with a custom UI, shutter sound, and watermark. Users can refine photographs with three additional filters—Emerald, Radiance and Serenity—designed by professional Hasselblad ambassadors.

It also features an 8MP ultra-wide Sony IMX355 rear snapper with an expansive field of view and packs the 32MP Sony IMX709 front shooter that is perfect for photos and videos. Moreover, OPPO Find N2 Flip is engineered to accurately render Indian skin tones and recreate bokeh flair in portrait videos. The OPPO Find N2 Flip is available for purchase at INR 89,999 from Flipkart, OPPO Stores, and mainline retail outlets.

The Reno10 Pro+ 5G is where innovation meets aesthetics; its camera module combines glass and aluminium in a two-tone design. The periscope design creates a 3x optical zoom telephoto setup that delivers beautifully proportioned portraits with a soft bokeh background. It even compresses distant elements in a scene—like monuments, buildings, and mountains—to bring them closer to your portrait subject for more dramatic snapshots. Capture Portraits from a distance—just like you would with a DSLR—for more natural facial proportions, devoid of any mild fish-eye distortion that you would get from smartphone cameras that force you to shoot from closer. At 64MP, this telephoto portrait camera is the highest megapixel telephoto portrait camera in the industry—backed by a 1/2-inch image sensor—that lets you snap portraits with up to 3x telephoto with OIS; you also get 120x hybrid zoom. The closest focus distance of this camera is 25cm. The device also features a 50MP IMX890 main camera, 8MP IMX355 ultra-wide-angle lens, and a 32MP IMX709 front camera for superior selfie quality.

To further enhance image processing, it packs the Ultra-Clear Imaging Processing Engine—powered by Qualcomm’s Snapdragon 8+ Gen 1 platform—for ultra-clear photos where every detail is preserved with remarkable precision. The Reno 10 Pro+ also has camera algorithms that kick in for 4K videos to fuse two frames of long- and short-exposure image information in real-time to widen the original dynamic range four times. It also utilises an AI Depth algorithm that has undergone extensive training with millions of images which calculates the distance between objects and characters in the background to create a precise depth map for beautiful bokeh. The Reno10 Pro+ is priced at INR 54,999 and available for purchase from Flipkart, OPPO store and mainline retail outlets.

New Delhi, 18th Aug 2023: Indian Orthopaedic Association, in collaboration with Kadambini Orthopaedic and Spine Trust (KOST-KCT), organized a special event at ACNR, MSS Hospital, Pitampura, Delhi, as part of the annual National Bone and Joint Day celebration. This year’s event spotlighted the urgent mission of providing Basic Lifesaving Skills training to 1.4 lac first responders.

This significant gathering highlighted the pressing need to address trauma and accident-related deaths in India. The theme for this year, “Each ONE Train ONE Save ONE,” underscores the critical role of immediate assistance and proper first aid in reducing fatalities caused by accidents.

India holds the unfortunate distinction of ranking first in road traffic accident deaths across 199 countries, as reported by the World Road Statistics 2018. In 2019 alone, a staggering 4,49,002 road accidents were reported, leading to 1,51,113 lives lost and 4,51,361 individuals injured. The event’s focus on imparting basic lifesaving skills training to first responders serves as a crucial step towards bridging this gap and saving lives.

The event saw the presence of esteemed medical professionals, including Dr. Shankar Acharya, Senior Orthopaedic & Spine Surgeon from Sir Gangaram Hospital, Delhi, and Trustee of KOST-KCT. Dr. Acharya emphasized that a substantial portion of these accidents could be prevented with timely medical care within the first golden hour after an accident. Immediate and proper first aid, even by common individuals or trained personnel, can significantly impact the survival rate of accident victims.

During the event, Dr. Suresh Kumar Chugh, General Physician, and Dr. Satish Pal, Head Physiotherapist of ACNR, highlighted the importance of prompt medical attention after accidents. They stressed the significance of efficient patient transfer and first aid, underscoring their potential to be lifesaving.

Dr. Shankar Acharya , Spinal Surgeon and Head Spine department, Sir Ganga Ram Hospital expressed, “The alarming statistics surrounding road accidents and trauma-related deaths in India require immediate attention. We can play a crucial role in saving lives and reducing these unfortunate incidents by empowering individuals with basic lifesaving skills and promoting timely first aid. The National Bone and Joint Day 2023 reminds us that we can make a difference in preventing avoidable fatalities.”

Moreover, the event also catered to bone health, with BMD assessments for 150 patients and education on osteoporosis prevention. Dr. Shailesh Tiwary, Senior Physiotherapist, provided patients with osteoporosis insights on maintaining proper posture and engaging in suitable exercises.

As the National Bone and Joint Day 2023 event concluded, a heartfelt appeal was extended to the media to disseminate this crucial message. By doing so, the Indian Orthopaedic Association aims to garner widespread support and participation, significantly reducing trauma and accident-related deaths across India.

Bangalore, 18th August 2023: The iconic Bakery brand, Merwans, launched its first outlet in Bengaluru by bringing its famed baked goods to the city. Residents of the city can taste the delicious cookies, cakes, savories and more, on 11th of August onwards in Jayanagar.

Patrons and True fans of the brand have never missed out on the delicious Mawa cakes. Maska Khari is another simple yet popular snack offering. Surti butter and Cookies are a delicacy range that the locals should try.

They also offer a wide variety of cakes like cheesecake, and caramel custard cake, Opera amongst other delectable cakes, pastries and desserts. Apart from these, they also offer a variety of veg and non veg puffs, rolls, buns, calzones and freshly baked bread.

Merwans is also introducing exclusively in Bangalore an exotic range of French Macaroons, Belgian Chocolates and a variety of rusks to cater to the wide of Banglorian Pallet

Merwans over the years has always stood for Celebrating emotions, great and wide range of savouries at pocket-friendly prices.

Talking about the launch, Mr Irani, Director, Merwans confectioners pvt ltd said, “The residents of Bengaluru have always enjoyed the classics. We are ecstatic to be here and could not have thought of a better city to expand outside Maharashtra. With our stringent quality standards, heirloom recipes and a focus on customer service, we are hoping to become an integral part of the city’s cherished bakery culture.”

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Mumbai,18th August 2023: Vitesco Technologies, a leading international provider of modern drive technologies and electrification solutions for sustainable mobility, published the results for the second quarter and first half of 2023 today. Besides strong order intake, particularly in the electrification business, the second quarter was characterized by signing long-term partnerships between Vitesco Technologies and semiconductor manufacturers.

Orders worth around €5 billion were booked in the past quarter, of which 90 percent (€4.5 billion) were related to electrification products. To comfortably meet all its orders in the long term, Vitesco Technologies joined forces with further key partners – semiconductor manufacturers ROHM and onsemi – and secured itself supply of energy-efficient high-performance silicon-carbide (SiC) semiconductors worth almost €3 billion. “Access to SiC-based technologies is crucial for our tremendous growth in electrification. We are working to secure 100 percent of our semiconductor requirements until 2030,” says CEO Andreas Wolf.

Strong sales growth despite a persistently challenging market

In the second quarter of 2023, Vitesco Technologies generated group sales of €2.44 billion (Q2 2022: €2.17 billion). This included sales of electrification products of €354 million (Q2 2022: €237 million). When adjusted for changes in the scope of consolidation and exchange-rate effects, sales rose by 14.3 percent. The electrification and the core businesses saw sharp growth of 23.9 percent and outperformed the global passenger car market by 8.4 percentage points. There was also an increase in adjusted EBIT to €76.3 million (Q2 2022: €34.9 million). This equates to an adjusted EBIT margin of 3.1 percent (Q2 2022: 1.6 percent).

In the first half of 2023 group sales grew by 7.5 percent to €4.76 billion (H1 2022: €4.42 billion). Organic growth stood at 7.8 percent. Vitesco Technologies’ adjusted EBIT came in at €113.4 million (H1 2022: €82.6 million) with an adjusted EBIT margin of 2.4 percent (H1 2022: 1.9 percent). Due mainly to impairments in connection with the sale of units from the non-core business, the net income amounted to minus €64.5 million (H1 2022: profit of €25.4 million) and resulted in earnings per share to minus €1.61 in the first six months of 2023 (H1 2022: plus €0.63).

Due to further cost increases and the ongoing negotiations concerning the passing on of additional costs the free cash flow fell to minus €20.6 million in the second quarter (Q2 2022: plus €1.6 million). For the first half of 2023, free cash flow came in at minus €61.7 million (H1 2022: plus €49.8 million). Capital expenditures[1] on property, plant, and equipment and software amounted to €92.8 million (Q2 2022: €112.5 million). The ratio of capital expenditure to sales is therefore 3.8 percent (Q2 2022: 5.2 percent). As of June 30, 2023, Vitesco Technologies had a solid balance sheet with an equity ratio of 38.9 percent (June 30, 2022: 40.4 percent).

CFO Werner Volz: “After a difficult start to the year, we increased our adjusted EBIT margin substantially once again in the second quarter. The improvement in profitability gives us the boost needed to achieve our full-year targets.”

Divisional results for Vitesco Technologies

The Powertrain Solutions division generated sales of €1.63 billion in the second quarter of 2023 (Q2 2022: €1.55 billion), which equates to organic growth of 6.1 percent. In the same period, its adjusted EBIT rose to €109.2 million (Q2 2022: €104.7 million). Its adjusted EBIT margin therefore stood at 6.7 percent (Q2 2022: 6.7 percent). “The division’s core business once again achieved a double-digit adjusted EBIT margin. This strong result is helping us to drive the transformation of Vitesco Technologies,” says CFO Volz.

Based on the positive business performance in China and Germany, the Electrification Solutions division increased its sales to €825.2 million in the second quarter of 2023 (Q2 2022: €626.1 million). This equates to strong organic sales growth of 34.5 percent. The division’s adjusted EBIT came in at minus €31.2 million (Q2 2022: minus €60.5 million), relating to an adjusted EBIT margin of minus 3.8 percent (Q2 2022: minus 9.7 percent). The general uptick in the market and stabilizing supply chains also contributed to the improvement in the division’s performance.

Guidance for fiscal year 2023

The outlook for Vitesco Technologies for the fiscal year 2023 remains unchanged, with the company continuing to anticipate sales of €9.2 billion to €9.7 billion for 2023. Vitesco Technologies is also expecting the adjusted EBIT margin for 2023 ranging between 2.9 percent and 3.4 percent and free cash flow at around €50 million.

India, 18th August 2023: In a groundbreaking stride towards fostering global linguistic competence, The English Advantage (TEA), India and Kristu Jayanti College (KJC), Autonomous, Bangalore have inked a Memorandum of Understanding (MoU) that promises to reshape language education in the region. This momentous event cements KJC’s role as a Bespoke Center for Cambridge C1 Advanced Examinations in Bangalore, offering comprehensive training and examinations to both its own students and external candidates.

The signing ceremony, held within the dignified confines of the Conference Room at Kristu Jayanti College, saw the convergence of notable figures, Mr. John DSouza representing The English Advantage and Fr. Dr. Augustine George CMI, Principal of Kristu Jayanti College, Autonomous, Bengaluru This gathering symbolized the mutual commitment of both institutions to advancing educational opportunities through their collaborative efforts.

Mr. John DSouza, Director and Exams Manager of The English Advantage, commented, “This event marks a significant leap forward in our mission to promote internationally acclaimed English language skills. By partnering with Kristu Jayanti College, we are not only enabling students to excel in the C1 Advanced Examinations but also cultivating a broader understanding of the English language that holds value far beyond the examination hall.”

The partnership’s impact reaches beyond the confines of the campus, as C1 Advanced qualifications serve as vital credentials for students pursuing overseas admissions and visas. These qualifications are a testament to one’s proficiency in English and greatly enhance candidates’ chances of success on the international academic stage.

Dr. Pradeep S Raj, Assistant Professor at Kristu Jayanti College, highlighted the multifaceted advantages of this collaboration. “Through our concerted efforts in international preparation, we are nurturing exceptional communication skills among our candidates. These skills not only empower them to perform admirably at the in-house examinations, but also at international language examinations like the C1 or the IELTS. Such training and certification will position them for success in the global workforce.”

The MoU outlines that the Jayantian Language Training Centre (JLTC) of Kristu Jayanti College will take a leading role in curating effective training programs for the C1 Advanced candidates. As language proficiency is an essential tool for modern communication, the partnership between TEA and KJC is set to result in an overall enhancement of English language skills across the campus.

With this strategic alliance, Kristu Jayanti College is reinforcing its commitment to holistic education by equipping students not only with academic prowess but also with the linguistic acumen that transcends boundaries. As the partnership unfolds, it is expected to contribute significantly to the broader educational landscape and empower students to embrace opportunities on a global scale.

Mumbai, 18th August 2023 RHI Magnesita, the Global leader in manufacturing and supply of high-grade refractory products, systems, and solutions, has operationalised its Global Shared Service centre (GSS) in India. The centre, set up at Gurugram, is the 5th global shared service centre of the company, with the other four located in China, Europe, North and South America.

Keeping in mind the growing significance of the India market for its global operations, RHI Magnesita has established the GSS in the country to provide a comprehensive range of services in four key processes – Attract to Grow (ATG), Procure to Pay (PTP), Order to Cash (OTC), and Record to Report (RTR).

Announcing this, Ian Botha, Global CFO, RHI Magnesita, said, “The Indian economy is going through transformational growth. We are turbo charging our growth in the country by integrating two recently acquired Indian refractory companies with RHI Magnesita. By doing so, we have positioned ourselves as the leading refractory player in India with an unrivalled product range, plant footprint and reach to service our customers in India and the larger region of West Asia, Africa. It was a natural choice for us to set up the Shared Services centre in India to support the business with processes and standards that are consistent with our group’s Global business processes. This will enable us to further improve our service quality to customers, and it is in line with our long-term strategic objective of developing India as a key refractory manufacturing, R&D and services hub.”

Starting with a team of 53 skilled professionals, the centre will cater to the company’s India operations initially. In phase 2, which will commence in coming weeks, the centre will extend its services to support the India, West Asia, and Africa regional operations including that of the recent acquisitions made by the company in India. In a subsequent third phase, the GSS – India will be elevated to service certain activities for RHI Magnesita’s growing global business which spans over 125 countries. It will do so in collaboration with the other four GSS hubs which will continue. For this centre, RHI Magnesita onboarded KPMG as its strategic project partner.

Expressing his enthusiasm on the opening of the India GSS, Mr. Parmod Sagar, MD & CEO of RHI Magnesita India, said, “The establishment of the GSS in Gurugram represents a significant milestone for RHI Magnesita India. This will enable us to enhance operational efficiencies and provide world-class support to our local and global operations. It also reaffirms our strong belief that India has exceptional young talents who are capable to serve Global businesses in a sustained and scalable manner.”

Echoing RHI Magnesita’s commitment to flexibility and talent empowerment, about 60% of the GSS staff currently operate from the base location in Gurugram, while the remaining 40% work remotely from various RHI Magnesita plants and office locations across India. This approach ensures seamless collaboration and synergy between teams, strengthening the company’s capability to deliver value to its customers and stakeholders. At present, RHI Magnesita GSS – India boasts a young and vibrant workforce, with round 70% of its staff aged under 40, reflecting the company’s commitment to fostering a culture of innovation, agility, and inclusivity.

Adding to this Aneta VanDenKieboom, Global Head of Shared Services at RHI Magnesita said, “As a young, shared service centre, we take pride in fostering a dynamic work environment and empowering our talented professionals to deliver exceptional results. With the future scaling up of GSS-India, we also aim to expand our workforce and further our ambition to add skilled and talented colleagues across all processes and levels.”

A revered cultural occasion, Teej is a tradition-laden celebration of womanhood and the monsoon season. Recognising the significance of this event, RCKC Aurum has put together a collection of clothes that seamlessly blends the spirit of Teej with current fashion trends.

The Teej Collection by RCKC Aurum combines opulence and culture to help you stand out and shine on this auspicious occasion. Their collection is a celebration of the splendour and diversity of Teej, with pieces like sleek fusion wear sarees that converse with modern sensibilities and lavishly embroidered lehengas that encapsulate the soul of our heritage.

Ensembles that evoke a sense of legacy and individuality are designed from vibrant colours like the yellow and green ombré effect, astounding magenta and illuminated blues, intricate details like sequins and thread work. Timelessly elegant gold pieces and opulent fabrics like tulles, georgettes, organzas, and crepes form a collection that honors the past and embraces the present.

Our vibrant Teej collection is a canvas of self-expression that pays homage to the beauty of womanhood said Designer Renesa Rastogi, RCKC Aurum.

Available at: E-5 South Extension, Part 2, New Delhi