Author: Team

Bandhan Mutual Fund Launches Bandhan Nifty Next 50 Index Fund

Mumbai, February 13, 2025: Bandhan Mutual Fund announced the launch of the Bandhan Nifty Next 50 Index Fund, an open-ended scheme tracking the Nifty Next 50 Index, which comprises the 50 companies ranked just beyond the Nifty 50 in India’s top 100 listed stocks. While classified as large caps, these companies exhibit mid and small-caps-like growth potential. The New Fund Offer (NFO) will open on Thursday, 13 February 2025, and close on Tuesday, 25 February 2025. Investment in the Bandhan Nifty Next 50 Index Fund can be made through licensed mutual fund distributors.

Commenting on the opportunity in the Nifty Next 50, Vishal Kapoor, CEO, Bandhan AMC, said, “The Nifty Next 50 Index provides investors access to well-established companies that are still in their high-growth phase. Spanning sectors such as consumer discretionary, FMCG, IT, and more, the index includes industry disruptors with noteworthy potential. Over the past nine years, 24 companies from this index have moved into the Nifty 50, reinforcing it as a launchpad for potential future market leaders. Historically, it has outperformed the Nifty 50 across multiple market cycles. With the recent market correction pushing the index down over 20% and trading below its five-year average, past trends suggest that such phases have often been followed by strong recoveries. The Bandhan Nifty Next 50 Index Fund provides investors with an opportunity to participate in this segment’s longterm growth potential at an opportune time.”

West Bengal to Achieve 20% of Energy Needs from Renewables, Reveals Ghulam Rabbani

Kolkata, February 13, 2025: West Bengal, which has emerged as a frontrunner in the energy space, is steadfast in its effort to ensure 20 per cent of its total energy comes from renewable sources by 2030, Md Ghulam Rabbani, Minister-in-charge, department of Non-conventional and Renewable Energy Sources.

The state government has already been taking several initiatives to achieve the target and the 900 MW Bandu Pumped Storage Project in Purulia in PPP model is a “prime example”.

“This (having 20 per cent of our energy from renewable sources) is not merely an ambitious target, it is a well-planned strategic commitment,” Rabbani said at the 6th Edition of Energy Meet & Excellence Awards organised by Assocham here on Wednesday.

According to Barun Kumar Ray, Additional Chief Secretary, department of Non-conventional and Renewable Energy Sources, there is a need to adopt innovative methods including putting in place a hybrid system by supplementing solar and wind power and integrating it with biomass in order to ramp up renewable energy adoption.

“The state government is working on solarisation of agricultural pumps. Currently huge amount of power is drawn from the State Grid or through the use of fossil fuel for operating agricultural pumps. We are looking to solarise these pumps. We are in talks with Water Resources, Agriculture and Irrigation departments for the same,” Ray said.

West Bengal government is also looking to put in place charging infrastructure in order to be able to meet the demand from EV consumers moving forward. The state has seen a significant surge in EV registrations and this is likely to grow “by leaps and bounds” moving forward, he added.

The state government is also working with Bengal Gas Company Ltd to produce large amount of gas from bio waste. “West Bengal has a huge potential to generate gas from biodegradable waste and we intend to work together with Bengal Gas to explore this opportunity,” he said.

This apart, Ray also talked about the state government initiative to utilise solar energy from rooftop panels installed in various government schools for cooking mid-day meal served to students. “Currently mid-day meal is cooked using firewood or LPG. We are looking to use solar power through rooftop panels going forward. An announcement in this regard is likely to happen soon.”

Hugh Boylan, Australian Consul General in Kolkata, said, “The Consulate General in Kolkata is engaging with state partners and businesses across east and northeast India to explore more opportunities in the energy sector. Our world class mining equipment, technology and services firms have a strong presence here. They are looking to grow existing collaborations and find new partnerships to benefit businesses.”

CESC will be working together with state government support and guidance for promoting rooftop solar project in the city of Kolkata, Vineet Sikka, MD, Distribution, CESC Ltd said. It will also work on battery storage for storage of surplus renewable energy.

Talking about cleaner fuels, Anupam Mukhopadhyay, CEO, Bengal Gas Company Ltd and ED, GAIL, said, “While fossil fuel will continue to be there for some years, it is important to look at less harmful fossil fuel and there comes the role of methane gas. The consumption of methane gas has increased substantially and it is expected to nearly double to touch 300 million standard cubic metre in the next two-to-three years, as compared to the current 180 million standard cubic metre.”

Kushager Tuli Named President – Creative at Tilt Brand Solutions

February 13, 2025 – Mumbai :

Mumbai based Brand and Communications consultancy, Tilt Brand Solutions has announced the appointment of Kushager Tuli as President – Creative. He was last, Executive Creative Director at Leo Burnett.

An engineering graduate with 18 years of advertising experience across Ogilvy, McCann, JWT and a few other agencies, Kush brings with him a unique blend of creativity, strategic thinking and leadership skills. Kush has led integrated teams and won national and international accolades on a plethora of brands, including Coca-Cola, Nescafe, The Times of India, BMW, Mastercard, Star Sports, Tata Motors, Perfetti, HUL, Pepsi and Visa.

Speaking of his appointment, Kushager Tuli, President – Creative, Tilt Brand Solutions said, “Tilt is already doing some industry benchmark-worthy work and I hope to add even more depth and value to our clients and our creative showcase. In an ever changing comms landscape, being able to craft brave, engaging and compelling stories across formats and platforms is something that I’m excitedly looking forward to doing, with the rest of the fabulous folks here at Tilt.”

Kush will be reporting into Adarsh Atal.

Adarsh Atal, Group Chief Creative Officer, Tilt Brand Solutions added, “Kushager joins us to not just bolster our creative team, but also to add to our carefully crafted culture. His proven record as a leader is exactly what we need, given the myriad and strong creative talent we have and nurture at Tilt. With his diversity of experience and expertise across agencies and brands, I’m certain that Kushager will help us take our creative product to newer heights.”

One Point One Solutions reports robust financial performance in Q3 FY25

Mumbai, February 13, 2025: One Point One Solutions, a leader in next-generation Business Process Management (BPM) services, has announced its financial results for the third quarter ending December 31, 2024, demonstrating robust performance across key financial indicators.

Financial Performance

Consolidated for Q3 FY25                                                                                                            

Financial Highlight                                                                                                                                                       

• Total Income: Grew to ₹70.40 crore in Q3 FY25 from ₹42.11 crore in Q3 FY24, marking a substantial 67.18% year-on-year increase

• EBITDA: Increased 36.01% from ₹15.08 crore in Q3 FY24 to ₹20.51 crore in Q3 FY25

• PAT: Rose to ₹8.43 crore in Q3 FY25 up from ₹5.97 crore in Q3 FY24, reflecting a 41.21% year-on-year growth

Business Highlights:

• Company is exploring potential acquisition in the USA, Latin America and the European region and has signed a non-binding term sheet with three potential target companies.
• The company has successfully onboarded three renowned new clients to its portfolio during the quarter.
• The company has secured a major contract with one of the leading banks in the country.

Management Comment:

Commenting on the results, Mr. Akshay Chhabra, Chairman & Managing Director said, “Our Q3 numbers reflect a positive performance with a substantial increase of 67.18% in total income. This growth is primarily driven by our global outsourcing initiatives, which includes the signing of a term sheet to acquire a U.S.-based healthcare company for $45 million and a non-binding term sheet to acquire an India-based Business Process Consulting & Management (BPCM) for ₹261 crores. These initiatives align with our broader strategy for potential acquisitions in the USA, Latin America, and Europe, where we’ve signed non-binding term sheets with three potential target companies. The company also witnessed a growth in its PAT by 41.21% this year, further underscoring our commitment to sustained growth and profitability.”

Mr. Chhabra further added, “We’ve also onboarded renowned clients from the Banking, E-Sports and Fleet management sectors, further strengthening our market presence and service capabilities.”

The Indian Garage Co. Boosts National Expansion with Flagship Store Launches in Hyderabad

Hyderabad, India – February 13th, 2024: The Indian Garage Co. (TIGC), India’s leading homegrown fast-fashion brand launched two new Exclusive Brand Outlets (EBOs) in Hyderabad. The first store was opened in Vanasthalipuram on December 7, 2024, followed by another highly anticipated launch at Sarath City Mall opening on February 15th, 2025.

The brand has received immense love for its e-commerce platform from Hyderabad and is confident that the city will embrace this new venture with equal enthusiasm. The highly anticipated opening of the stores marks a significant milestone in the brand’s offline expansion, aimed at providing Hyderabad’s fashion enthusiasts with a cutting-edge and immersive shopping experience.

Spanning 2,300-square-foot complex outlet in Vanasthalipuram features the brand’s latest collections, offering customers a curated selection of trendsetting styles. This addition strengthens the brand’s presence in Hyderabad, following the recent opening of a 3,746-square-foot store at Sarath City Mall. Both stores are part of The Indian Garage Co. ‘s broader offline expansion strategy, which includes a 20% budget allocation to support growth. With a goal of having 100 stores across India, the brand aims to make Exclusive Brand Outlets (EBOs) contribute 30% of total revenue within the next 3 to 5 years, while empowering young fashion entrepreneurs along the way.

Speaking on the launch, Anant Tanted, Founder & CEO of The Indian Garage Co., said, “We are excited to introduce The Indian Garage Co.’s distinctive blend of fashion, innovation, and customer-centricity to the vibrant city of Hyderabad. This launch marks a key milestone in our mission to make our signature style accessible to a global audience. By creating immersive shopping experiences, we aim to bring our unique vision of fashion to even more customers. As we continue to expand our offline presence across India, we are committed to reshaping the fashion retail landscape and paving the way for our future growth in international markets”.

As part of its strategic offline expansion, The Indian Garage Co. plans to open new stores in key cities such as Lucknow, Pune, as well as two additional locations in Bengaluru and Cochin, continuing its nationwide growth trajectory.

“The brand has received immense love for its e-commerce platform from customers in Hyderabad and is confident that the region will warmly embrace this new venture,” said Alka Dembla, Head of Retail, The Indian Garage Co. “At The Indian Garage Co., we are committed to creating exceptional shopping experiences that perfectly combine style and accessibility. The launch of our Exclusive Brand Outlets in Hyderabad represents a significant milestone in our mission to connect with fashion enthusiasts Pan-India. These stores reflect our dedication to offering vibrant spaces where customers can explore, engage, and shop with style. We’re delighted about this new chapter and excited to continue expanding our offline presence in key markets across India.”

To celebrate the grand opening of the second store, customers can look forward to the exclusive in-store collections, exciting inaugural offers, and a special treat for the first 100 shoppers, who will receive ₹1000 worth of free shopping. The festivities kick off at 11 AM and the queue starts at 10.30 AM on launch day at the store—don’t forget to queue up early!

Chartis Research Names BCT Digital Category Leader in Model Governance Solutions for 2024

Chennai, 13th February 2025: BCT Digital, a global risk technology and compliance products company, has been recognized as a category leader in Chartis Research’s 2024 Model Governance Solutions Quadrant. The company’s rt360 Model Risk Management (MRM) solution was highlighted for its comprehensive capabilities in model coverage, governance framework, model inventory management and model risk analytics.

The Chartis Research report evaluated BCT Digital’s rt360 MRM solution across several criteria, including its ability to manage the lifecycle of financial models, mitigate model risks, and ensure compliance with regulatory requirements.

Jaya Vaidhyanathan, CEO of BCT Digital, commented, “Being named a category leader in the Chartis Model Governance Solutions Quadrant reflects the strength and impact of our approach to model risk management. Our focus is on delivering solutions that simplify complex model governance challenges, enabling financial institutions to maintain robust control over their models while adapting to an increasingly dynamic regulatory environment.”

The solution automates model governance processes, including model validation, monitoring, and risk assessment, streamlining collaboration between departments. Features such as centralized Model Register acts as the single source of truth for all model-related activities, improving transparency and traceability. The Workflow Engine automates tasks and facilitates cross-departmental collaboration for improved efficiency. The MRM solution also enables financial institutions to reduce reliance on external validation services, streamline model risk management processes, and scale operations with minimal added cost.

In recent years, banks and financial institutions have prioritized MRM solutions. They are seeking robust and sophisticated software to automate model monitoring and quarterly assessments. This focus on automation ensures compliance with the guidance and standards set by their respective central banks. For instance, the Central Bank of UAE published new regulations and standards on Model Management Standard (MMS), applicable to all models used by banks, and the Model Management Guidance (MMG), specifically focused on Expected Credit Loss (ECL) models.

Tata Elxsi and Garuda Aerospace Join Forces at Aero India 2025 to Develop Centre of Excellence for UAV Innovation

Bangalore, 13th Feb 2025– Tata Elxsi, a global leader in design and technology services, and Garuda Aerospace, a pioneering UAV (Unmanned Aerial Vehicle) manufacturer, have signed a Memorandum of Understanding (MoU) at Aero India 2025, Asia’s biggest Airshow, being held from February 10th –14th. This partnership establishes a dedicated UAV design, engineering, and certification center to develop indigenous drone technologies specifically for Indian defence applications, along with agriculture, and smart cities, supporting the ‘Make in India’ initiative.

Tata Elxsi and Garuda Aerospace are showcasing prototypes, designs, and operational UAVs at Aero India 2025. In addition, a demonstration of indigenised UAV components highlights India’s advancements in autonomous UAV technologies.

Tata Elxsi will lead the design, development, testing, and certification of UAV subsystems, leveraging its expertise in avionics, miniaturisation, ground control systems, secured communication, and energy optimisation. Its proven capabilities in avionics certification, including compliance with DO-254 and DO-178C standards, will ensure regulatory adherence and safety. By integrating its proprietary autonomous and digital twin technologies, AI-driven solutions, and advanced propulsion and battery management systems, Tata Elxsi will enhance UAV efficiency, reduce energy consumption by 20%, cut costs by over 20%, and accelerate development cycles by up to six months.

Garuda Aerospace, as an OEM with a strong presence in defence and other sectors, will lead business acquisition and delivery. The drones developed under this initiative will cater to multiple applications such as payload management, goods delivery, precision agriculture, and ISR (Intelligence, Surveillance, and Reconnaissance) missions, addressing critical operational needs across industries.

The Indian defence forces and Border Security Force are expected to be key beneficiaries of this collaboration, gaining access to cutting-edge UAV capabilities. Additionally, this initiative will create new employment opportunities and contribute to workforce development in the aerospace sector.

Jayaraj Rajapandian, Head of Aerospace, Rail & Off-highway, Tata Elxsi, stated: “Our partnership with Garuda Aerospace marks a major milestone in India’s aerospace ambitions. By driving AI-powered UAV advancements, we are strengthening India’s defence ecosystem and reinforcing the country’s self-reliance in aerospace technologies.”

Agnishwar Jayaprakash, Founder & CEO of Garuda Aerospace, said “This strategic collaboration with Tata Elxsi reinforces our commitment to indigenous innovation. Over the next three to five years, we will focus on fully indigenised production and supply of airborne and ground systems, strengthening India’s leadership in UAV technology.”