31, Jan 2024
Meeting With TN Chief Minister in ROCA Group HQ Spain, Madrid
Roca Group, the world leader in design, production, and marketing of products for the bathroom. The company, with a firm commitment to sustainable development accredited throughout its century-long history, had the privilege of meeting with TN Chief Minister and his delegation in Madrid, Spain.
This meeting aims to generate positive impact in three fundamental areas: People, Planet and Prosperity. Roca Group seeks to improve people’s lives and contribute to the preservation of its environment by creating shared value that allows reinvestment, on one hand, for the development of quality jobs and, on the other, for the care of the environment.
Roca Bathroom Products Private Limited (Roca India) is the market leader in the category and products sold under the brand name “Laufen,” “Roca,” “Parryware” and “Johnson Pedder”. The company has 9 factories in India out of which 4 factories are in Tamil Nadu at Ranipet, Perundurai, Sriperumbudur, and Irungatukottai.
The Investor-Friendly Ecosystem in Tamil Nadu and their commitment to the investors, employees and environment has helped Roca India to increase their footprint in Tamil Nadu over last many decades.
The meeting in Spain was attended by Mr, Carlos Velazquez, ROCA Global Director and Mr. K Nirmal Kumar, Managing Director of Roca India.
ROCA India MD Mr K.Nirmal Kumar said post interaction with the Honourable Tamil Nadu Chief Minister and his very industrial friendly delegation visiting Spain ” ROCA India has committed to invest further in Process Automation to Export products to Europe and Australia, Capacity Expansion in Pipes and Fittings and upgrade the Sanitaryware and Plastics Technical Centre to world standards in Tamil Nādu. Apart from the above, Roca India will be continuously modernising their factories to produce products meeting the consumer demand. The overall investment will be to a tune of Rs.400 crores of which shows ROCA Worldwide confidence in Tamil Nadu
Government”.ROCA India MD Mr K.Nirmal Kumar said, “All these factories produce goods which are supplied across the globe including Europe, which demands the best quality and environment-friendly production methods” and ROCA India is indeed leveraging the vast and technologically savvy workforce readily available in youth of Tamil Nādu.” ROCA Global Director, Mr Carlos Velazquez said “In India efforts are on modernizing factories in line with steep reduction in CO2 emission.In India, 7 out of 9 factories of ROCA are partially powered by Solar energy ensuring Green and sustainable energy.”
To decarbonise the inherent energy and carbon-intensive production of ceramic goods 1, the company has successfully commissioned the World First Electric Kiln to produce sanitaryware at its Laufen plant in Gmunden (Austria). This initiative will position Roca Group as a First Player in the World with a Net-Zero Sanitary Ceramics Production Plan with a significant knock-on effect over the whole sector.
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- By Rabindra
31, Jan 2024
Blue Star appoints Mr Murlidhar Gangadharan and Mr Vipin Sondhi on its Board
Mumbai, 31 January 30, 2024: Air conditioning and commercial refrigeration major, Blue Star Limited, has announced the appointment of two new members on its Board, Mr Murlidhar Gangadharan and Mr Vipin Sondhi. Both are being inducted in the capacity of Additional Directors designated as Independent Directors, with effect from January 30, 2024, for a period of five years. These members will further strengthen the Board with their rich and diverse experience.
Mr Murlidhar Gangadharan is a finance professional with around 40 years of expertise across various industries including insurance, financial services, manufacturing, and pharma. He holds a bachelor’s degree in physics from Mumbai University, apart from being a Chartered Account, Cost Accountant and Company Secretary. He also completed the Advanced Management Programme from Harvard Business School, Boston, USA. In the first part of his career,
Mr Murlidhar gained experience across a variety of businesses in manufacturing including engineering, electrical safety, pharmaceutical, and glass manufacturing having worked with reputed companies such as Gujarat Glass (now Piramal Glass), Ion Exchange, Nicholas Piramal Pharmaceuticals and MDS Switchgear (Now Legrand). Thereafter, in 2000, he transitioned to financial services and was the Founding Member of Kotak Life Insurance where he played a significant role in spearheading one of the fastest-growing life insurance companies in India and rose to become its Managing Director & Chief Executive Officer. Having worked at all levels in a finance function from accountant to head of finance, Mr Murlidhar is passionate about designing talent development and performance management processes that transform teams into high-performing centers of excellence.
Mr Vipin Sondhi has four decades of experience in the Manufacturing and Engineering arena. He holds a bachelor’s degree in technology in Mechanical Engineering from IIT Delhi and a Post Graduate Management Degree from IIM, Ahmedabad. Mr Sondhi has been the Managing Director & Chief Executive Officer of Tecumseh India, JCB India and most recently Ashok Leyland. He has also worked
with other reputed organisations including Escorts Group, Shriram Honda Power Equipment, and Tata Iron & Steel Company. Mr Sondhi has also held several Advisory roles such as Chairperson, National Board for Quality Promotion, Quality Council of India; Member, Technology Advisory Group to Empowered Technology Group (Appointed by Principal Scientific, Advisor to Govt. of India) and Member, Consultative Group of Experts on e-Mobility, Niti Aayog, Govt. of India. In addition, he has been a past Vice President, Society of India Automobile Manufacturers (SIAM) and on the Board of several NGOs such as Bharatiya Yuva Shakti Trust, Ananta Centre, and Sasakawa India Leprosy Foundation.”
31, Jan 2024
NUVOCO Vistas announces its financial results for Q3 FY24
Mumbai, January 31, 2024: Nuvoco Vistas Corp. Ltd., a leading building materials Company in India, announced its unaudited financial results for the quarter ended December 31, 2023. With 25 MMTPA of combined installed capacity, Nuvoco Vistas Corp. Ltd. is the fifth largest cement group in India and amongst the leading cement players in East India.
The consolidated cement sales volume for the Company stood at 4.02 MMT in Q3 FY24. Consolidated revenue from operations during the same period stood at Rs. 2,421 crores. Consolidated EBITDA improved by 55% YoY to Rs. 421 crores.
The Company has successfully commissioned a 1.2 MMTPA Cement Mill at Haryana Cement Plant, taking the overall cement capacity to 25 MMTPA. This expansion will boost production volumes in the Northern region and enhances the ability to provide a diverse range of unique product offering to customers.
Premium products continue to remain a key focus area for the Company and have contributed significantly, with a 36% share of the company’s cement trade volumes in Q3 FY24. Building on this leadership, we recently launched brand new marketing campaign for Duraguard Franchisee – ‘Seedhi Baat Hai, Duraguard Khaas Hai’, underscoring its unique features and reinforcing customer trust. Additionally, the Company also introduced engaging brand activation activity “Sabse Khaas Sarpanch”, showcasing impactful stories of Sarpanches contributing to village development. These initiatives aim to boost market position and elevate the brand.
The Company remains committed to its sustainability agenda – Protect Our Planet. The Company has amongst the lowest carbon emissions at 462 kg CO2 per ton of cementitious materials1. The Company achieved significant improvement of 5% YoY in alternate fuel rate (AFR) to 14% in Q3 FY24, amongst the best in the industry.
Commenting on the performance of the Company, Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd. stated, “Despite the challenging demand environment, the Company continues to deliver strong growth in EBITDA. We achieved the highest EBITDA per ton compared to the past ten quarters; a testament to our operational excellence, focusing on cost efficiency and value-led growth.”
Furthermore, he added, “With additional capacity in the Haryana Cement Plant, we are set to seize the opportunities. We continue to emphasize on quality and innovation and secure a larger market share in the North while retaining our leadership position in the East. On the Ready-Mix Concrete business, we have commissioned five new plants in the current fiscal, bringing our total to 56 plants pan-India.”
31, Jan 2024
Shriram Housing Finance’ Assets Under Management crosses 12,000 Cr.
Shriram Housing Finance Limited, a leading affordable housing finance company announced its results for Q3 FY’24. Assets Under Management (AUM) as of end of the calendar year grew to INR 12,025 Cr.
The disbursals for the quarter stood at INR 1,698 Cr, up 70% YoY. The company has maintained an accelerated growth momentum in 9M FY’24, with overall disbursals of INR 5,289 Cr within this period.
Asset quality improved with Gross Stage-3 assets at 1.01% (including RBI circular dated 12 Nov’21), a 14 bps YoY improvement. Net Interest Margins in Q3 FY’24 also improved by 70 bps YoY to 8.1%. PAT for Q3 FY’24 stood at INR 61.5 Cr, a growth of 69% YoY.
For 9M FY’24, the PAT stood at INR 155 Cr., a 54% growth YoY.
Expanding Distribution Network: The company continues to invest in its distribution expansion across the identified key focus states. The total branch network grew to 149 branches as on Dec’23. The company continues to be a dominant player in Tamil Nadu and Gujarat; and is aiming for the leadership position across few other focused geographies.
Commenting on the results Ravi Subramanian, MD & CEO, Shriram Housing Finance said, “We continue to be a dominant player in the Affordable Housing Finance segment. The demand for housing loans, especially outside of the metros, remains robust. Our focus is the small business/self-employed segment and we believe that the organic demand for housing will be robust over the next few years. We would continue our investment in scaling up the branch network to enhance our distribution. Our endeavour is also to improve our technology interface to enhance the experience for our customers. Our AUM has grown by 4x over the last 3 years, with our portfolio quality being amongst the best in the industry. We would continue to build our businesses at the same pace with clear focus on risk controls.”
31, Jan 2024
Toyota Kirloskar Motor Drives Sustainable Community Development
Bangalore, 31 January 2024: Toyota Kirloskar Motor (TKM), today announced the successful execution of its 29th iCARE initiative, held at Government High School, Kengeri on 28th January’24, the activity is a testament to the company’s unwavering commitment to sustainable community development thereby bringing about a positive change to the surrounding communities. In a synergistic celebration of National Road Safety Month and the International Day of Education, about 350 volunteers comprising of TKM employees and their families and students were engaged in two impactful activities at Government High School, Kengeri, one aimed at fostering safe driving practices and the other, to provide a more inclusive learning environment for school children.
The National Road Safety Month serves as a dedicated period to instill and promote road safety awareness in young minds, ultimately contributing to life-saving measures and reducing road accidents. In this backdrop, a mentoring session on road safety was held, where volunteers mentored school children on safety measures while driving and sensitized the meaning and importance of following road signs. Students were also provided with assessment sheets to test their knowledge on road safety, followed by a review and explanation by the volunteers.
Simultaneously, coinciding with International Day of Education, and recognizing the crucial role basic school infrastructure like benches, play in providing comfortable seating, promoting healthy posture, and enhancing overall student well-being, TKM organized a bench polishing & painting event where volunteers showcased their creativity and manual skills to refurbish school benches, creating versatile and inclusive learning spaces. The dual activities underscore TKM’s commitment to creating a safer world and providing an enhanced learning environment for students, aligning with the company’s core values and principles towards community development.
Speaking on the occasion, Mr. Vikram Gulati, Country Head and Executive Vice President, Corporate Affairs and Governance, Toyota Kirloskar Motor said, “We are thrilled to announce the successful execution of the 29th iCARE initiative, a testament to Toyota Kirloskar Motor’s enduring commitment to sustainable community development. In a harmonious celebration of National Road Safety Month and the International Day of Education, our dedicated employees engaged in two exciting activities aimed at fostering a safer society and creating a more enriching learning environment. The initiative not only demonstrates our commitment to road safety and education but also reflects the collective efforts of our employees in making a positive impact on society. With 29 successful iCARE activities to date, TKM continues to drive transformation change and enrich the lives of individuals and communities.”
Additionally, in line with its commitment to the cause of road safety, the company recently announced the implementation of two impactful road safety programs, namely the Toyota Safety Education Program (TSEP) and the Toyota Hackathon, aimed to educate, create awareness, instil a sense of responsibility, and empower the youths to become advocates for road safety. While TSEP is an interactive program targeting school children from 5th to 9th grades, educating them on the importance of road safety through a phase-wise approach, this year, TSEP will be implemented across Bangalore & nearby districts, focusing to cover more than 20,000 students across 40+ schools. Toyota Hackathon activity will provide a platform for 11th – 12th graders to develop effective road safety solutions, for the academic year 2023-24, the program will cover youths from the existing TSEP implementing schools & pre-university colleges, targeting around 100 institutes, both from Bangalore and nearby districts.
Since its inception in 2017, the iCARE (I Community Action To Reach Everyone ) initiative has witnessed a resounding response, engaging over 1,760 employees in more than 28 diverse multifaceted endeavours. These initiatives span across areas like Education, Environment, Road Safety, Skill Development, Disaster Management, and aiding special children. This collaborative effort has facilitated profound experiences, making a positive impact on the lives of both employees and over 63,150 community members. This initiative epitomizes TKM’s vision of empowering and motivating its workforce to actively participate in initiatives that underscore their dedication to uplifting communities through meaningful actions.
Overview of TKM
| Equity participation | Toyota Motor Corporation (Japan): 89%, Kirloskar Systems Limited (India): 11% |
| Number of employees | Approx. 6,000 |
| Land area | Approx. 432 acres (approx.1,700,000 m2) |
| Building area | 74,000 m2 |
| Total Installed Production capacity | Up to 3,42,000 units |
Overview of TKM 1st Plant:
| Established | October 1997 (start of production: December 1999) |
| Location | Bidadi |
| Products | Innova HyCross, Innova Crysta, Fortuner, Legender manufactured in India. |
| Installed Production capacity | Up to 1,32,000 units |
Overview of TKM 2nd Plant:
| Start of Production | December 2010 |
| Location | On the site of Toyota Kirloskar Motor Private Limited, Bidadi |
| Products | Camry Hybrid, Urban Cruiser Hyryder, Hilux |
| Installed Production capacity | Up to 2,10,000 units |
31, Jan 2024
Decoration and Celebrations of Ram Mandir ,Pran Pratistha
Karnal, 31st January 2024: Alpha International City, Karnal (AICK) Society was thrilled to showcase the vibrant decorations gracing the community on the auspicious occasion of Ram Mandir Pran Pratistha. The entire society was adorned with colors, lights, and intricate designs, reflecting their deep reverence and joy for this significant event in Hindu culture.
The society members, including children and adults alike, were immersed in happiness and devotion as they partook in the adorned surroundings, fostering a sense of unity and spirituality among all.
On this occasion, Mr. Santosh Agarwal, Executive Director and CFO of Alphacorp, said “the decorations at Alpha International City, Karnal (AICK) Society symbolized our collective devotion and joy on the occasion of Ram Mandir Pran Pratistha. It was heartening to see the happiness and spiritual fervor among our society members, especially the children. This celebration reinforced our commitment to fostering a sense of unity and reverence within our community.”
30, Jan 2024
SEBI Chairperson interacts with the members of the Brokers Industry Standards Forum (ISF)
30th January 2024: SEBI Chairperson Smt. Madhabi Puri Buch today interacted with the participants of the Brokers Industry Standards Forum (ISF).
During a media interaction post the meeting, she said: “The brokers ISF setup in Sep 2023 has done a commendable job in the past four months in giving implementable recommendations on standards and guidelines of implementing regulatory directives.”
“When standards are proposed by the market practitioners themselves, many wrinkles in implementation are ironed out at inception,” she added.
Shri Vijay Mehta, President of Association of National Exchange Members of India (ANMI) said: “We are glad that our recommendations have been appreciated by the authorities. We look forward to being responsible partners of the regulator.”
Shri Kishor Kansagra, Chairman of Bombay Stock Exchange Brokers Forum (BBF) said: “This is a matter of great responsibility of the entire broking community, and we look forward to providing implementable solutions in our inputs to the regulatory authorities.”
Shri Narinder Wadhwa, President of Commodity Participants Association of India (CPAI) said: “When industry and regulatory authorities work together, it solves issues in at the design stage itself and ensures smooth execution of the directives.”
30, Jan 2024
Bry-Air and DRI conduct Sports Day at Bajghera, Gurugram to celebrate International Day of Education
New Delhi, 30th January 2024: Observing the International Day of Education, Bry-Air and DRI, the flagship companies of the Pahwa Group, organized Sports Day for students of Bry-Air Pathshala and DRI Pathshala. The event was conducted for the Pathshala students at the Literacy India playground in Bajghera village, Gurugram which witnessed the participation of over 255 students.
Sports Day was organized with the aim of fostering inclusive education by promoting the overall development of the children. To instill enthusiasm among the children, Bry-Air and DRI, conducted a range of activities, namely, spoon race, relay race, 50-meter race, 100-meter race, three-legged race, sack race, and tug of war, etc., to name a few, to inculcate sportsmanship in students right from their formative years.
The flagship companies conduct classes under the names Bry-Air Pathshala and DRI Pathshala, in Dharam Colony and Carterpuri village respectively. The Group has been working in close collaboration with NGO – Literacy India since 2011 and 2014, respectively, to fulfill the cause of providing education to underprivileged children. Staying true to its commitment to making education accessible for everyone, the Group is incessantly dedicated to providing free-of-cost education to underprivileged children. To achieve this purpose, the Group efficiently provides a primary school environment so that children in remote parts of the cities can avail quality education.
Speaking on the occasion, Ms. Anandita Pahwa, Head – CSR, Bry-Air & DRI, said, “The celebration of International Day of Education underscores our dedication to encourage elevation of the society. As part of the endeavor, understanding that education plays a pivotal role in shaping society and securing the future of children, we have been relentlessly working towards empowering underprivileged children with the power of knowledge. In the pursuit, the Sports Day on the occasion of International Day of Education promotes the overall development of the children while instilling sportsmanship in them, enabling them to navigate the future with sheer wisdom.”
Resolved to contribute to the upliftment of society as a responsible organization, Bry-Air, and DRI are continuously involved in empowering the youth and ladies to help them become self-dependent. To achieve this purpose, the Group conducts skill development courses in diversified fields aimed at supporting the women and girl child become self-earning members of the society. For which, they provide training on a wide range of courses such as beautician and tailoring courses, computer literacy, etc., and further provide them with necessary sewing machines, tailoring and beautician kits, etc. to help them set up their small business shops and manage the day-to-day expense of their families.
30, Jan 2024
Football knockouts and kabbadi matches take centre stage at Delhi SFA Championships
New Delhi, January 30th, 2024: Day 2 at the Delhi SFA Championships unfolded with the kickoff of football at the Jawaharlal Nehru Stadium and Kabaddi at the Noida Educational Academy.
At the Jawaharlal Nehru Stadium football enthusiasts in the U-18 boys quarterfinals battled out for victory on the field. U-18 footballer Kshaunish Gawri from GD Goenka Public School, and a victorious participant in the Goa Super Cup charity match, expressed, “I started playing football in 2014, inspired by Messi’s humble journey from a small town. My parents and coaches have been extremely supportive in my journey, especially my mother, who has done everything within her capacity to support me. Joining the Delhi Dynamos training camp in 2018 helped me understand the fundamentals of the game. I believe that every experience, be it a win or a loss, is an important part of our lives, and while we faced a disheartening loss at the SFA Championships today, it reminded us that there’s always room for growth. Championships like this one bring out our competitive side while humbling us parallelly, and hence, I look forward to participating at SFA Championships again.
Simultaneously, kabaddi enthusiasts were treated to riveting encounters in the U-14 boys finals and the U-17 and U-19 boys semi-finals. The U-14 finals Modern School Noida Sector 11, bag their podium position, for gold.
Results for Day 2
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SPORT: Football |
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| Event Type | Gender | Team 1 | vs | Team 2 | Score |
| U-18 | Male | KVS, Tagore Garden | vs | Prudence School 16B, Dwarka | 2-1 |
| U-18 | Male | Tagore International School, Vasant Vihar | vs | Kaushalya World School, Greater Noida | 2-3 |
| U-18 | Male | Shiv Nadar School, Gurugram | vs | GD Goenka Public School | 6-0 |
Demonstrating the power of sport in transforming the society, Day 3 will celebrate female athletes
participating at the SFA Championships in New Delhi, as part of the ‘She is Gold’ initiative. The day promises even more excitement with the kickoff of Athletics, Basketball, Football (U10 & U12), kho-kho, Tennis, and Volleyball.
SFA Championships is poised to make sports accessible for school athletes across the country, thereby empowering today’s talent to become the Champions of tomorrow. The journey to represent the country at the Olympics, is what SFA Championships is enabling for emerging athletes.
30, Jan 2024
Tata Motors introduces Turbotronn 2.0 engine, makes trucking more efficient and reliable
Bengaluru,30th January 2024: Tata Motors, India’s largest commercial vehicle manufacturer, today introduced its technologically advanced engine, Turbotronn 2.0, to deliver a new benchmark of excellence in trucking. Highly fuel efficient and reliable, this indigenously developed, versatile engine will power Tata trucks in 19-42 tonne range for multiple applications across categories. Perfectly suited for rapidly growing e-commerce, logistics, parcel and courier segments, the Turbotronn 2.0 engine is designed to address specific needs expressed by customers, offers enhanced driving experience and is engineered to deliver robust performance with inherent benefits of lowering Total Cost of Ownership (TCO). It has been rigorously tested for over 30 lakh km and 70,000 cumulative hours across diverse duty cycles and harsh terrains. Fully compliant with the BS6 Phase 2 emission norms, the Turbotronn 2.0 is platform-agnostic and offered with Signa, Ultra, LPT and cowl platform and comes with a warranty of 6 years/6 lakh km.
Key highlights: Tata Turbotronn 2.0
- Available in multiple power nodes with flatter torque curve for enhanced drivability
- Improved diagnostics
- 6-year/6 lakh km warranty
- Available with optional cruise control
A 5-litre turbocharged diesel engine, the efficient and versatile Turbotronn 2.0 is offered in multiple states of tune ranging from 180-204 PS and engineered to offer a flatter torque curve in the range of 700-850 Nm for better drivability. With longer oil drain and service intervals of 1 lakh km, its distinctive attributes ensure more vehicle uptime to generate higher revenues.
Introducing the Turbotronn 2.0, Mr. Rajendra Petkar, President and Chief Technology Officer, Tata Motors, said “The Turbotronn 2.0 is one of our most advanced internal combustion engines. Engineered with latest technologies, it enables trucks to cover longer distances in shorter time. Its robust performance and high fuel efficiency has set new industry benchmarks for trucking in India.”
Sharing his thoughts, Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors, said, “At Tata Motors, we closely partner with customers to make their businesses prosper. The Turbotronn 2.0 has been developed with extensive inputs from transporters and provides them with an edge in the highly competitive industry. Its superior value proposition, makes trucking more seamless, efficient and reliable resulting in higher revenues and lower costs.
As a comprehensive mobility solutions provider, Tata Motors commercial vehicles come with advanced features, efficient powertrains and richer value-additions. Fleet owners benefit from better fuel efficiency, lower operating costs, high vehicle uptime, real-time tracking and analytics through Tata Motors Fleet Edge. Its Sampoorna Seva 2.0 initiative provides unmatched vehicle lifecycle management services, including fleet management solutions, annual maintenance contract and roadside assistance amongst others. With the widest service network of 2500+ touchpoints, staffed by trained specialists and backed by Tata Genuine Parts, Tata Motors ensures unparalleled quality and service commitment.
As part of a reliability test, Tata Motors kick-started a 30-day endurance run with its Tata Ultra T.19, powered by the Turbotronn 2.0 engine. The aim was to do a non-stop run on the Golden Quadrilateral, a crucial national highway network connecting India’s metros establishing highest possible standards of durability and efficiency. The Tata Ultra T.19 not only completed nine rounds of the Golden Quadrilateral successfully but also secured nine records in both the India Book of Records and the Asia Book of Records. These extraordinary achievements were made possible by the efficient and reliable Turbotronn 2.0 engine-powered Tata Ultra T.19, marking a significant milestone in the realm of commercial vehicles.
Tata Motors triumphs with first-in-the-country records in India Book of Records and Asia Book of Records:
- Fastest to cover 30,000km by a medium CV
- Fastest to cover Golden Quadrilateral by a medium CV
- Highest fuel efficiency by a diesel medium CV
- Highest fuel efficiency by a diesel medium CV over one roundtrip of Golden Quadrilateral
- Maximum distance covered by a medium CV in a month
- Maximum distance covered by a fully loaded 19-tonne truck in a month
- Highest fuel efficiency by a diesel medium CV on the Chennai-Kolkata stretch
- Highest fuel efficiency by a diesel medium CV on the Delhi-Mumbai stretch
- Highest fuel efficiency by a diesel medium CV on the Kolkata-Delhi stretch
