2, Feb 2024
Akshayakalpa Organic and Innovative Chess Academy Hosts Grand Chess Tournament in Bengaluru
Bangalore, 2nd February 2024: Akshayakalpa Organic, a champion of organic farming and sustainability, collaborated with the Innovative Chess Academy (ICA) to present a spectacular chess tournament between January 26th to 28th, 2024. The highly anticipated event took place at the esteemed Silicon City Academy Of Secondary Education in Bengaluru, providing a dynamic platform for chess enthusiasts to showcase their strategic prowess.
This thrilling tournament, utilizing the Swiss method of play with 9 intense rounds, brought together more than 700 participants over three action-packed days. The collaboration between Akshayakalpa Organic and ICA underscores their shared commitment to fostering intellectual sports and promoting the growth of chess within the community.
Shashi Kumar, Co-founder and CEO of Akshayakalpa Organic brings a unique passion to the tournament as an active chess player himself. Shashi Kumar, who has been supporting the game for over a decade, expressed his excitement, saying, “Chess has been a source of inspiration and growth for me personally. As an avid player, I understand the mental acuity and strategic thinking it requires. This tournament is not just a competition; it’s a celebration of the chess community’s spirit, where players learn, compete, and evolve together.”
Shashi Kumar emphasized the significance of the collaboration with ICA, stating, “Our partnership with Innovative Chess Academy is rooted in a shared vision of making chess accessible to all. We believe in the power of chess to instill critical thinking skills, enhance concentration, and foster a sense of community. By joining forces, Akshayakalpa and ICA aim to create an inclusive environment where individuals from all walks of life can engage with and enjoy the game of chess.”
The tournament, held at the Silicon City Academy Of Secondary Education, not only featured intense competition but also provided a conducive environment for learning and camaraderie among participants. With a total prize pool of 5 Lakh rupees, this event was a landmark occasion for the chess community in Bengaluru.
In addition to the substantial cash prizes, participants had the golden opportunity to secure a coveted spot in the Chess National Tournament scheduled to take place in Jaipur.
This tournament not only serves as a showcase for the strategic brilliance of local chess enthusiasts but also as a stepping stone for players to advance to national-level competitions. Akshayakalpa Organic and Innovative Chess Academy is proud to contribute to the growth of chess in Bengaluru and beyond.
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- By Rabindra
2, Feb 2024
Felicitation Ceremony for Republic Day 2024 …
India Hyderabad 02 February 2024: Andhra Pradesh and Telangana NCC Directorate shines at the Republic Day Camp 2024. The month-long Republic Day Camp 2024 was conducted at Cariappa Parade Ground in Delhi Cantt wef 01 Jan to 29 Jan 2024.
In a remarkable display of excellence, the contingent of 128 cadets of AP&T NCC Directorate showcased their prowess at the RDC Camp 2024 and won several accolades. Junior Division Cadets SGT M. Srisanth and Cdt N. Dheeraj have clinched the prestigious titles of All India Best Cadet in Army and Navy, respectively. And they were the proud recipients of the Best Cadet trophy and cane awarded by Hon’ble Prime Minister Sri Narendra Modi during Republic Day Parade. Cadets Sk Rehana, SUO S Chittesh Rao and Cpl G Lohith have won Gold Medals in different categories of equestrian events.
In addition, cadet SUO Akanksha Bhosle has stood second in Best Cadet Army Senior Wing category. Cadet Mahi Baldev has won DGNCC Commendation Card for her excellent performance during various VIP visits and centrally organized functions during RDC. Additionally, 15 spirited Senior Wing Cadets from the Directorate have proudly marched along Karthavyapath, symbolizing their unwavering commitment to the nation and its foundational values on Republic Day 2024. The Directorate further distinguished itself by securing the first place in the group song competition and third position in the National Integration Awareness Programme.
As part of their enriching experience during the camp, the cadets have been on ‘at home’ visits to esteemed dignitaries, including the President, Prime Minister, Chief of Army Staff, Chief of Naval Staff and Chief of Air Staff, Director General – NCC, and a Dinner with the Defence Minister. These interactions not only offered a glimpse into the dignitaries’ lives but also provided invaluable insights into diverse activities and the nuances of leadership within the defense establishment. Andhra Pradesh and Telangana NCC Directorate takes pride in its cadets’ exemplary performance and contributions to the success of Republic Day celebrations. Their achievements reflect a commitment to excellence, discipline, and the values that form the bedrock of our great nation.
Air Commodore VM Reddy, Dy Director General of AP & T Dte has felicitated the medal winners and the contingent during the ceremony held at NCC Directorate, Secunderabad.
2, Feb 2024
Mega With 250 amenities spread over 250 acres, Runwal Group Unveils Runwal Garden City
Mumbai, 2nd February 2024: Runwal Group, one of the top real estate developers in the country, has announced the launch of its mega township project – Runwal Garden City. Situated on Kalyan-Shilphata Road, Dombivli (E), this integrated township is set to redefine urban living in the MMR. A 250+ acre masterpiece offering 250+ amenities, the project encompasses 34+ gardens, 3 clubhouses, 2 central parks, 70% open space, 2 international standard cricket grounds, 2 schools and over 3000 trees.
Nestled in the heart of Dombivli, Runwal Gardens City offers convenient commutes, thriving businesses, and endless opportunities. The development is strategically positioned to capitalize on the area’s growth and accessibility. With proximity to key infrastructural developments like the Airoli-Katai Tunnel, Navi Mumbai Airport, Kalyan-Shil Road, Metro Line 12, the Bullet Train line and the Multimodal Corridor, residents can enjoy seamless connectivity and ease of daily commute.
Elaborating on what sets this project apart, Mr.Subodh Runwal, Managing Director – Runwal Group, said, “Runwal Garden City is more than just a township; it’s a lifestyle destination. We have meticulously crafted every aspect of this township to cater to the evolving needs of our customers. It is an ecosystem where everything a resident needs, will be available within the campus. Whether it is shopping, education, health care or access to large green open spaces, it will all be just outside their home. Commuting will also be a breeze, thanks to the multiple modes of transport available in the vicinity. Dombivli is the next big destination and Runwal Garden City will be a key reason for this transformation.”
From recreational spaces to fitness facilities, Runwal Garden City provides an extensive range of amenities catering to various age groups and interests. Green spaces are a priority in this development, with 34+ gardens providing residents with serene and refreshing environments to relax and connect with nature. Residents have access to three well-equipped clubhouses, fostering community engagement and offering spaces for social, recreational, and fitness activities. The presence of two central parks within the development adds to the greenery, offering residents ample space for outdoor activities, relaxation, and community events. The emphasis on open space ensures a sense of expansiveness and promotes a healthy living environment, allowing residents to enjoy the outdoors within the confines of the development. Sports enthusiasts can indulge in cricket at international-standard facilities, encouraging an active and healthy lifestyle. The commitment to the environment is evident in the planting of over 3000 trees, contributing to the ecological balance and enhancing the overall aesthetics of the development.
The community-centric design of the project encourages the development of a close-knit neighbourhood, fostering a sense of belonging and community spirit. With two schools in the township, high street retail, a mall and office spaces, Runwal Garden City will offer a lifestyle and convenience which will be unique.
Dombivli has been witnessing increasing demand from home buyers and the township will a milestone in establishing the location as a preferred destination.
2, Feb 2024
Mega With 250 amenities spread over 250 acres, Runwal Group Unveils Runwal Garden City
Mumbai, 2nd February 2024: Runwal Group, one of the top real estate developers in the country, has announced the launch of its mega township project – Runwal Garden City. Situated on Kalyan-Shilphata Road, Dombivli (E), this integrated township is set to redefine urban living in the MMR. A 250+ acre masterpiece offering 250+ amenities, the project encompasses 34+ gardens, 3 clubhouses, 2 central parks, 70% open space, 2 international standard cricket grounds, 2 schools and over 3000 trees.
Nestled in the heart of Dombivli, Runwal Gardens City offers convenient commutes, thriving businesses, and endless opportunities. The development is strategically positioned to capitalize on the area’s growth and accessibility. With proximity to key infrastructural developments like the Airoli-Katai Tunnel, Navi Mumbai Airport, Kalyan-Shil Road, Metro Line 12, the Bullet Train line and the Multimodal Corridor, residents can enjoy seamless connectivity and ease of daily commute.
Elaborating on what sets this project apart, Mr.Subodh Runwal, Managing Director – Runwal Group, said, “Runwal Garden City is more than just a township; it’s a lifestyle destination. We have meticulously crafted every aspect of this township to cater to the evolving needs of our customers. It is an ecosystem where everything a resident needs, will be available within the campus. Whether it is shopping, education, health care or access to large green open spaces, it will all be just outside their home. Commuting will also be a breeze, thanks to the multiple modes of transport available in the vicinity. Dombivli is the next big destination and Runwal Garden City will be a key reason for this transformation.”
From recreational spaces to fitness facilities, Runwal Garden City provides an extensive range of amenities catering to various age groups and interests. Green spaces are a priority in this development, with 34+ gardens providing residents with serene and refreshing environments to relax and connect with nature. Residents have access to three well-equipped clubhouses, fostering community engagement and offering spaces for social, recreational, and fitness activities. The presence of two central parks within the development adds to the greenery, offering residents ample space for outdoor activities, relaxation, and community events. The emphasis on open space ensures a sense of expansiveness and promotes a healthy living environment, allowing residents to enjoy the outdoors within the confines of the development. Sports enthusiasts can indulge in cricket at international-standard facilities, encouraging an active and healthy lifestyle. The commitment to the environment is evident in the planting of over 3000 trees, contributing to the ecological balance and enhancing the overall aesthetics of the development.
The community-centric design of the project encourages the development of a close-knit neighbourhood, fostering a sense of belonging and community spirit. With two schools in the township, high street retail, a mall and office spaces, Runwal Garden City will offer a lifestyle and convenience which will be unique.
Dombivli has been witnessing increasing demand from home buyers and the township will a milestone in establishing the location as a preferred destination.
2, Feb 2024
Leading Indian IT firm eClerx reports strong growth posts 9.8% revenue growth
Mumbai, 2nd February 2024: Known for providing business process management, automation, and analytics services to a number of Fortune 2000 enterprises, Mumbai-based IT consulting firm eClerx Services Ltd. has come out with upbeat financial results for the quarter ended December 31, 2023. The company reported sequential and Y-o-Y improvements in revenue, profit and margin metrics, underscoring its strong operating leverage and continued focus on optimizing delivery costs. Founded in 2000 by Anjan Malik and PD Mundhra with the goal of providing innovative services and solutions to large global companies undergoing rapid business transformation, eClerx has metamorphized into an industry leader with an internal talent pool of 17,000+ people operating across India, Australia, Canada, Germany, Italy, Netherlands, Philippines, Singapore, Thailand, UK, and the USA.
Key highlights from the consolidated financial results reported for the quarter ended December 31, 2023:
On a consolidated basis, the company’s operating revenue stood at INR 752.8 crore vs. INR 686.7 crore in Q3FY2022-23, signifying strong 9.6% Y-o-Y growth and 4.3% growth on a sequential basis. This outperformance has been driven by the company’s robust offshore growth strategy that has also contributed to improved margin metrics.
In USD terms, eClerx posted USD 90.5 million in operating revenue that represents a 6.4% increase over the same period last year. Total revenue that includes other business income increased to INR 773.5 crore, representing a 9.8% Y-o-Y growth as compared with INR 704.5 crore in Q3FY2022-23.
· Earnings before interest and taxes (EBIT) grew to INR 194.5 crore as compared with INR 178.5 crore in Q3FY2022-23, representing a 8.9% EBIT growth on a Y-o-Y basis.
· Net profit also increased to INR 138.6 crore, a healthy 5.7% growth when compared with the Q3FY2022-23 figure that came in at INR 131.2 crore.
· Basic earnings per share (EPS) for Q3FY24 increased to INR 28.76 from INR 26.41, amounting to a 8.9% Y-o-Y increase in this vital profitability indicator.
· The company’s upbeat performance is also credited to the total delivery headcount, which increased by 737 in the December quarter.
Reflecting on the company’s performance in Q3FY24, Mr. Kapil Jain, Managing Director and Group CEO at eClerx remarked, “Our operating revenue has grown 4.3% sequentially in INR terms, which is great performance given the challenges faced by the industry. This performance reflects our commitment towards clients and improving their performance. Our focus on capability development has yielded dividends, both in terms of new client wins and existing customers. Our emphasis remains on leveraging eClerx’s operational expertise with emerging technologies to address our clients’ business challenges. This customer-centric philosophy should help us deliver on our promise of being a leader in business transformation.”
2, Feb 2024
Honda Cars India registers 11% growth with 8681 units of domestic sales in January 2024
New Delhi, February 2, 2024: Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, registered monthly domestic sales of 8,681 units in January 2024. The export numbers for HCIL stood at 4,531 units in Jan’24.
Commenting on the sales performance in January 2024, Mr. Yuichi Murata, Director of Marketing and Sales at Honda Cars India Ltd., said, “Entering the new year, our models have consistently contributed to our sales volume, reflecting a positive demand for our lineup. Honda Elevate maintains its strong performance, gaining growing preference and momentum month after month. Alongside Elevate, the unwavering success of the Honda City and Amaze has played a crucial role in sustaining our momentum.”
Honda Cars India Ltd had registered domestic sales of 7,821 units and exported 1,434 units in January ‘23.
2, Feb 2024
Table Tennis wonder Grace and Carrom prodigy Faaiz Qureshi shine at Delhi SFA Championships
New Delhi, February 1st, 2024: In the quest to identify and empower budding talent across the nation, SFA Championships saw the incredible talent of U-12 Table Tennis player, Grace and U-18 Carrom champion Faaiz Qureshi.
Nine-year-old National-level Table Tennis player, Grace from Manav Sthali School shared, “I practice everyday for 8 hours and have competed at state and national levels. Competing against my friend at the SFA Championships and winning the gold medal in the finals was unique learning experience. The excellent tables made it even more enjoyable and thrilling for me”.
On the other hand Faaiz Qureshi from N. P. Boys Sr. Secondary School, with a 5th rank (nationally) in Carrom, shared his experience, “I started playing Carrom at the age of six, inspired by my father and brother. I aspire to play like the world champion, K. Srinivasan, and compete in international matches, to become the world’s best carrom player. I believe competitions like SFA Championships provide the well-needed exposure that helps us focus on our shortcomings in each match and thrive to play better.”
The fifth day of the SFA Championships in Delhi witnessed exhilarating kickoffs of Badminton, Carrom, and Table Tennis at the prestigious Indira Gandhi Sports Complex. Meanwhile, the Jawaharlal Nehru Stadium witnessed incredible talent in Football and Tennis. In the carrom arena, U-12 to U-18 boys exhibited remarkable precision, meanwhile, badminton saw young talents in the U-11 to U-19 categories, highlighting their skills and determination. The Table Tennis courts witnessed fierce battles among competitors in the U-10 to U-19 categories, and Football matches of U-10 to U-16 boys, unfolded with intense action and fierce rivalries. Simultaneously, the Tennis finals for U-10 to U-18 boys was a stunning experience for both, participants and spectators alike.
Results for Day 5
| SPORT : TABLE TENNIS | |||||||
| Age Category | Event | Gender | Gold (School Name) | Silver (School Name) | Bronze (School Name) | Bronze (School Name) | |
| U-10 | Singles | Girls | Myra Manish (Shiv Nadar School, Noida ) 3-0 |
Kaavya Sareen (Lovely Public International School) 0-3 |
– | – | |
| U-10 | Singles | Boys | Mehransh Singh Bhatia (Delhi Public School, RK Puram) 4-3 |
Keshva Raghunath Vasudev (Shiv Nadar School, Gurugram) 3-4 |
Yatharth Pundir (Sophia Public Junior High School ) 2 |
– | |
| U-12 | Singles | Girls | Grace Sukhija (Manav Sthali School, New Ranjendra Nagar) 3-1 |
Siddhi Singh (Manav Sthali School, New Ranjendra Nagar) 3-1 |
Anika Aggarwal (Shiv Nadar School, Noida) |
Anika Kapoor (Manav Sthali School, New Ranjendra Nagar) |
|
| U-12 | Singles | Boys | Vivaan Khanna (Manav Sthali School, New Ranjendra Nagar) 3-1 |
Vian Khosla (PM Shri Kendriya Vidyalaya) 3-1 |
Akul Goswani (Delhi Public School, RK Puram) |
Arhaan Dharwarkar (MBS International School, Dwarka Sector) |
|
| U-15 | Singles | Girls | Dhaani Jain (Manav Sthali School, New Ranjendra Nagar) 3-0 |
Anika Aggarwal (Shiv Nadar School, Noida) 3-0 |
NIKITA RATHEE (Delhi Public School, Sec -24 Rohini) |
Danya Jain (Gaurs International School, Noida) |
|
| U-15 | Doubles | Boys | Nimay Gogia & Swarit Singhal (DPS International) 3-0 |
Nivaan Ahuja & Manvik Agarwal (Delhi Public School, RK Puram) 3-0 |
– | – | |
Anticipation continues for Day 6, which promises excitement with the commencement of Chess and Karate matches, along with the eagerly awaited final results of Football.
2, Feb 2024
Mphasis Gross revenue grew 1.6% QoQ in Q3 FY24
Mumbai, 02 February 2024:
Mphasis Limited (BSE – 526299; NSE – MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its financial results for the quarter ended 31st December 2023.
Quarter ended 31st December 2023
· Gross Revenue grew 1.6% QoQ and declined 5.2% YoY in Q3 FY24 on reported basis and grew 1.0% QoQ and declined 6.8% YoY in Constant Currency
· Direct revenue grew 2.0% QoQ and declined 3.3% YoY on reported basis and grew 1.3% QoQ and declined 5.0% YoY in Constant Currency
· New TCV wins USD 241 million in Q3 FY24 in Direct; of which 85% in new-gen services. FYTD TCV wins of USD 1,203 million, grew 20% YoY
· Net profit margin at 11.2% at ₹ 3,736 million in Q3 FY24
· Reported EPS at ₹ 19.8.
“We are witnessing signs of stability, despite seasonal softness in Q3 FY24. While we are still in the midst of macro headwinds, clients are also accelerating towards newer sources of value such as AI to stay ahead. Building on our track record of strong pipeline to total contract value (TCV) conversion, we continue to focus on converting TCV to revenue,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.
Deal wins:
· A leading American telecommunications major has engaged Mphasis to lead its vendor consolidation and partnership strategy across enterprise technology solutions, digital and cyber security
· A leading American financial services company has chosen Mphasis to help engineer, enable, and leverage the cloud
· A leading American financial services company is engaging Mphasis as part of a multi-year deal to lead centralized
· production support services. Mphasis’ capabilities around AI-led transformation were key in securing this win.
Awards and Recognitions:
· Mphasis recognized by BusinessWorld in India’s Most Sustainable Companies (IMSC)
· Recognized as one of the Best Tech Brands 2023 | The Economic Times
· Wins Bronze Stevie in the Business Technology category under Product Management & New Product Awards at the 21st Annual American Business Awards®
· Secures gold from Brandon Hall Group for the Hi-Tech, Hi-Touch and Hi-Trust Candidate Experience Model.
· Wins Talent Board the Candidate Experience Award for EMEA and North America
· Wins GOLD at the Meytier Equitable Hiring Awards for equitable and inclusive hiring practices.
2, Feb 2024
ELGi unveils upgraded line of portable screw compressors at India StoneMart 2024
Bengaluru, India, February 2nd, 2024: Elgi Equipments (BSE: 522074 NSE: ELGIEQUIP), one of the world’s leading air compressor manufacturers, today introduced the game-changing PG 550-215 trolley-mounted portable screw air compressor at the 12th edition of India Stonemart 2024 at the Jaipur Exhibition and Convention Centre (JECC), Rajasthan, India. Also displayed at the ELGi booth 6, in the outdoor machinery area B, were ELGi’s electric-powered PG110 E, PG 55 E, and PG 75 E portable air compressors for the mining industry. The 2024 edition of the International Stone Industry Trade Fair is expected to witness over 30,000 visitors and key decision-makers from the stone industry across the globe.
The newly introduced PG 550-215 is designed to deliver better performance, reliability, and profitability for customers in the construction and mining sectors. The compressor’s 3-stage air filtration system enables optimal performance while the integrated control panel ensures improved safety, reliability, and driller-friendly operations. The compressor’s Uptime design, which comprises large doors and a robust canopy, ensures easy maintenance, enhanced durability, and protection from extreme climatic conditions. In addition, ELGi’s pan-India network of service centers and trained service technicians ensure seamless operations for every customer.
The PG 110 E, 55 E, and 75 E series of electric-powered compressors, also on display, have been extensively adopted in standard pressure applications throughout the marble, granite, and blue metal quarries, where electricity is accessible and emission-free processes are required.
ELGi is committed to delivering high-performance portable compressed air solutions to construction and mining industry customers. With superior customer support and over 63 years of experience in compressed air technology, ELGi is today present across 120+ countries, offering a complete range of compressed air solutions from oil-lubricated and oil-free rotary screw compressors, oil-lubricated and oil-free reciprocating compressors and centrifugal compressors to dryers, filters, and downstream accessories. With state-of-the-art manufacturing units and a product portfolio of 400+ compressed air systems, ELGi redefines reliability, efficiency, and cost-effectiveness across 2+ million installations worldwide.
2, Feb 2024
Q3FY24 results of Aptus Value Housing Finance Limited
Chennai: February 01, 2024: Aptus Value Housing Finance India Limited, a leading Housing Finance Company has declared its financial results for the third quarter and nine months ended December 31, 2023.
Key Performance Metrics for 9 months FY 24 (Consolidated)
| Rs (in Crs) | |||
|
Particulars |
9M FY 24 |
9M FY 23 |
Y-o-Y |
|
AUM |
8,072 | 6,307 |
28% |
|
PAT |
448 | 368 |
22% |
|
Gross NPA (%) |
1.19% | 1.44% |
Decrease by 25 bps |
|
RoA (%) |
8.06% | 8.53% |
Maintained above 8% |
|
RoE (%) |
17.10% | 16.02% |
Increase by 108 bps |
Performance Highlights
· Disbursements for 9M FY 24 was at Rs. 2,159 crores – 25% increase Y-o-Y
· 12 new branches added in Q3 FY 24 and 31 branches opened YTD with a total distribution network of 262 branches as on 31st December 2023
· Net worth of over Rs.3,700 crores
· Strong liquidity to support future growth
Commenting on the results, Mr. P. Balaji, Managing Director, said,
“During the 9 months FY24, we opened 31 branches and have widened our presence through a strong network of 262 branches assuring best service to all our customers. We disbursed 2,159 crores registering a growth of 25% year on year. We continued to grow consistently and delivered an AUM growth of 28% year on year.
Digital adoption has been strong with steady improvement in business generation through leads generated from customer referral app, eco partners app and social media channels. Our customer-centric digital platform and AI/ML supported credit evaluation process ensures timely loans to our customers.
We consistently maintained low levels of NPAs over the years and continue to focus on good quality of assets with Gross NPA at 1.19% as on December 31, 2023.
PAT has grown by 22% on y-o-y and 6% on q-o-q basis. Our ROA and ROE remained solid at 8.06% and 17.10% respectively.
As on December 31, 2023, we have maintained a sufficient liquidity of Rs. 961 crores including undrawn sanctions of Rs. 300 crores from NHB and Rs. 310 crores from various banks. The Company is well capitalized with a net worth of over Rs. 3,700 crores.
To take the Company to the next level of growth, middle management viz. sales, credit, collections and IT have been strengthened.
As we move forward, we will remain focused on expanding our customer base both in existing and new geographies and further strengthen our position as a leading affordable housing finance company in the country.”
