10, Nov 2023
Representatives From 70 Countries Participating in Jagriti G20 Startup 20 Yatra
New Delhi, 10th November: The Jagriti G20 Startup 20 Yatra has reached the capital city of Delhi, a pivotal point in its transformative journey. In Delhi, the Yatra navigated through various sessions and engaging conversations with esteemed ministries and bureaucrats. The guidance and expertise of the think tank will shape and steer the Yatra’s trajectory during this phase. The ceremony was enriched with captivating cultural performances by various talented troupes.
This transformative Yatra, organized in collaboration with Jagriti Sewa Sansthan, Startup 20, and G20, has left an indelible mark on the entrepreneurial landscape. With 450 participants, including representatives from 70 countries, the Yatra is fostering a truly global association of entrepreneurs. It is a remarkable platform for exchanging ideas, sharing experiences, and forging meaningful connections.
Talking about the Jagriti G20 Startup 20 Yatra Mr.Abhay Thakur, Special Secretary, Ministry of External Affairs said“It is my proud privilege to be associated with Jagriti G20 Startup 20 Yatra platform that is not only highlighting major global challenges be it energy transitions, climate change, human right development but is also the forum that is bringing world leaders together to exchange ideas, thought processes and share important messages at the leader’s level. Going forward from this brilliant platform I would like to see an increased focus on Multilateral Development Bank Reforms. Currently, Climate Finance has about $800bn of funds for the development of the countries out of which only one-eighth of it actually goes to these developing countries. Through this platform, we need to focus on such issues.”
From Delhi, the Yatra will proceed to Ahmedabad, continuing its path towards the final destination of Mumbai on November 10th. This leg of the journey holds immense significance as Delhi, being the capital of the country, serves as a strategic bottleneck, bringing together key stakeholders and decision-makers.
“The Jagriti Yatra, in its 16th edition, has reached a crucial juncture in Delhi, marking a significant milestone in this extraordinary adventure. As we continue our transformative journey towards the final destinations of Ahmedabad and Mumbai, we reflect with immense pride on showcasing inclusive enterprises from across the country and carrying the key messages of the G20 Delhi Declaration. At this point of the journey, we engage in vital discussions with the think tank, ministers, and those in small towns and districts, further shaping our path forward. It has been a momentous occasion as we fostered meaningful associations with participants from 70 countries. As we bid farewell to Delhi, we carry the baton, cherishing the memories created and eagerly anticipating future endeavors, including the planned Ganga to Amazon effort.” said Shashank Mani, Founder Jagriti Yatra and Jagriti Enterprise Center – Purvanchal,”
In Delhi, participants had the opportunity to delve deeper into discussions, exchange ideas, and gain valuable insights from ministries and bureaucrats. These interactions provided a unique platform to address pertinent issues, explore collaborative opportunities, and align the Yatra’s mission with the vision and policies of the government.
As the Yatra progresses from Delhi to Ahmedabad and ultimately concludes in Mumbai, it will carry forward the spirit of entrepreneurship, inclusivity, and global collaboration. The sessions in Delhi will set the tone for the remaining leg of the journey, infusing it with renewed inspiration and purpose.
The Jagriti G20 Startup 20 Yatra stands as a testament to the power of collective action and collaboration, fostering meaningful connections between entrepreneurs, policymakers, and thought leaders. It continues to pave the way for transformative change, driving inclusive growth and sustainable development across borders and industries.
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- By Rabindra
10, Nov 2023
Veranda Learning Solutions Reports a Strong Performance in Q2 & H1 FY24
CHENNAI, 10th November 2023: Veranda Learning Solutions Limited, a public listed Education company (BSE: 543514, NSE: VERANDA) and a pioneer in the industry offering end-to-end Education services solutions, announced its financial results for the second quarter and the half year ended September 30, 2023. The company has reported a robust Revenue of Rs. 100.27 crores for the quarter compared to Rs. 38.77 crores in the same period last year. Veranda continues to focus on delivering high-quality, result-oriented preparatory courses for aspirants in India.
The company announced an EBITDA of Rs. 22.39 crores for H1FY24 marking a substantial recovery from the operating loss of Rs. 28.41 crores in the corresponding period of the previous Financial year. This was possible on the back of a remarkable revenue surge, arising out of a year-on-year operating revenue growth of 157.06 %. Their total revenue for H1FY24 stood at Rs. 170.75 crores, a significant increase compared to the Rs. 67.40 crores recorded in H1FY23.
The total number of students trained by the Veranda Group for H1FY24 stood at 4,21,327 with 2,00,574 students trained this quarter.
Consolidated Financial Highlights:
|
Particulars (Rs. Crores) |
Q2FY24 |
Q2FY23 |
Y-o-Y |
Q1FY24 |
Q-o-Q |
H1FY24 |
H1FY23 |
Y-o-Y |
|
Revenue from Operations |
98.37 |
36.88 |
166.70% |
68.90 |
42.77% |
167.27 |
65.07 |
157.06% |
|
Other Income |
1.90 |
1.89 |
1.58 |
3.48 |
2.33 |
|||
|
Total Revenue |
100.27 |
38.77 |
158.63% |
70.48 |
42.26% |
170.75 |
67.40 |
153.34% |
|
Gross Profit |
60.18 |
15.06 |
299.53% |
38.38 |
56.80% |
98.57 |
26.96 |
265.57% |
|
Gross Profit Margin (%) |
61.18% |
40.84% |
55.71% |
58.92% |
41.43% |
|||
|
Operating Expenses |
||||||||
|
Advt & Business Promotion |
14.46 |
10.69 |
35.31% |
10.27 |
40.77% |
24.74 |
19.16 |
29.11% |
|
Corporate Costs |
4.53 |
5.36 |
-15.47% |
5.58 |
-18.88% |
10.11 |
10.29 |
-1.71% |
|
Non-Operating Expenses |
– |
– |
– |
– |
– |
|||
|
ESOPs/RSU |
1.10 |
3.36 |
-67.17% |
1.53 |
-27.96% |
2.64 |
5.44 |
-51.49% |
|
Growth Investment |
– |
4.99 |
– |
– |
6.37 |
|||
|
EBITDA |
16.75 |
-15.00 |
5.64 |
196.99% |
22.39 |
-28.41 |
||
|
Finance Cost |
10.31 |
1.07 |
862.00% |
8.45 |
22.03% |
18.76 |
2.79 |
572.15% |
|
Depreciation |
6.17 |
6.47 |
-4.72% |
18.96 |
-67.47% |
25.12 |
12.61 |
99.27% |
|
Tax Expenses |
1.80 |
-1.42 |
-2.44 |
-0.63 |
-2.61 |
|||
|
PAT |
-1.53 |
-21.13 |
-19.33 |
-20.86 |
-41.19 |
Key Consolidated Financial Highlights:
-
Total Operating Revenue stood at Rs. 98.37 crores in Q2FY24 compared to Rs. 36.88 crores in Q2FY23 a growth of 166.7% YoY; Total Operating Revenue for H1FY24 stood at Rs. 167.27 crores compared to Rs. 65.07 crores in H1FY23 witnessing a growth of 157.06% YoY.
-
The Total Revenue stood at Rs. 100.27 crores in Q2FY24 compared to Rs. 38.77 crores in Q2FY23 a growth of 158.6% YoY; Total Revenue for H1FY24 stood at Rs. 170.75 crores compared to Rs. 67.40 crores in H1FY23 witnessing a growth of 153.34% YoY .
-
The Gross Profit stood at Rs. 60.18 crores with a Gross Profit margin of 61.18% in Q2FY24 compared to Rs. 15.06 crores and Gross Profit margin of 40.84% in Q2FY23; In H1FY24 the Gross Profit stood at Rs. 98.57 crores with a Gross Profit margin of 58.92% in H1FY24 compared to Rs. 26.96 crores and Gross Profit margin of 41.43% in H1FY23.
-
Advertising and business promotion expenses for Q2FY24 & H1FY24 stood at Rs. 14.46 crores and Rs. 24.74 crores respectively
-
The Company reported an EBITDA of Rs. 16.75 crores in Q2FY24 compared to loss of Rs. 15.00 crores in Q2FY23. The EBITDA for H1FY24 stands at Rs. 22.39 crores as compared to a loss of Rs. 28.41 crores in H1FY23; The adjusted recurring EBITDA for the quarter Q2 FY24 stood at Rs 17.85 crores and Rs 25.02 crores for H1FY24.
Speaking on the strong financial performance, Mr. Suresh Kalpathi, Executive Director and Chairman, Veranda Learning Solutions said, “I am thrilled to share with you the outstanding performance of our company during Q2FY24 and H1FY24. The numbers speak for themselves – our revenue has surged by an impressive 167% in Q2FY24. This is a clear testament to the hard work and dedication of our teams, as well as validation of our strategic decisions. The improvement in EBITDA margin shows the strength and resilience of our business operations and the acquisitions.
After a challenging period of assimilating assets in the education ecosystem over the past two years, we can proudly say that we are now reaping the rewards. We have successfully stitched a fabric through strategic acquisitions, further enhancing our competitive advantage in the market. We are close to achieving the dream of being present across the entire education value chain.
We are confident that this momentum will persist, as we continue to drive growth from both our existing and newly acquired businesses. The future looks promising, and we remain committed to delivering exceptional results and value for our stakeholders.”
BUSINESS VERTICAL PERFORMANCE UPDATES:
Veranda RACE
Veranda RACE is a premier competitive exam test‑prep institute, preparing students and providing courses in the areas of Tamil Nadu Public Services Commission (TNPSC), Banking, and Kerala Public Service Commission (PSC), Railway Recruitment Board (RRB) and insurance examination for over 10 years. During Q2FY24 the Revenue for the vertical stood at Rs. 29.41 crores compared to Rs. 16.77 crores in Q2FY23 a strong growth of 75.29%. Reported an Adjusted EBITDA of Rs. 7.17 crores compared to Rs. 1.61 crores in Q2FY23. The enrolment during the quarter stood at 17,924 compared to 12,859 in Q2FY23 a growth of 39.39%
Edureka (Brain4ce)
Edureka is a platform for imparting the latest tech skills for technology professionals through curated courses to bridge the gap between industry demand and talent supply. During Q2FY24 the Revenue stood at Rs. 23.27 crores compared to Rs. 19.94 crores in Q2FY23 a robust growth of 16.76% YoY. The reported Adjusted EBITDA of Rs. 2.92 crores in Q2FY24 compared to loss of Rs. 3.41 crores in Q2FY23. The enrolments for Q2FY24 were at 8,032 vs 9,196 in Q2FY23.
JK Shah Classes
JK Shah Classes, a pioneer in coaching CA, CS, and CMA aspirants for the last 39 years collaborated with Veranda Learning Solutions Limited in October 2022. The unparalleled legacy and leadership position in the Chartered Accountancy Test prep course and other Commerce courses JK Shah classes has built a platform for sustained growth. The Revenue for Q2FY24 stood at Rs. 33.84 crores compared to Rs. 27.42 crore in Q1FY24 a growth of 23.4% QoQ. The Adjusted EBITDA was at Rs. 13.73 crore in Q2FY24 compared to Rs. 11.18 crore in Q1FY24 a growth of 22.82% QoQ. The enrolments for Q2FY24 were at 20,618 vs 16,153 in Q1FY24.
Veranda Higher Education Business
Veranda Higher Education offers long-term degrees and certification programs in collaboration with prestigious institutions such as IIM Raipur, IIM Shillong, XLRI, IIT – Guwahati, Goa Institute of Management, and Sastra University, as well as tie-ups with international universities to offer long term degree and certification programs. The Revenue for Q2FY24 stood at Rs. 2.93 crores compared to Rs. 0.29 crore in Q1FY24. The enrolments for Q2FY24 were at 764 vs 480 in Q1FY24 and bookings grew to Rs 15.40 crores in Q2FY24 as against Rs 8.85 crores in Q1 FY24.
New Acquisitions Performance
This quarter we also consolidated results from the new acquisitions which was completed in Aug 23 in wholly-owned subsidiary Veranda Administrative Learning Solutions Pvt Ltd (VALS). These businesses which included Educare Infra, Six Phrase, Phire, Neyyar Academy, Neyyar Education, and Bassure reported Revenue of Rs. 8.44 crores and Adjusted EBITDA of Rs. 3.37 crores. In addition, the Company announced investment in SmartBridge Educational Services Private Limited this quarter whose acquisition is expected to be completed by 31st Jan 2024. It also entered into a Business Transfer Arrangement with Sreedhar’s College of Competitive Exams (CCE), a prominent test-prep institute in Andhra Pradesh and Telangana during the quarter.
10, Nov 2023
Mother’s Recipe and Actress Shweta Tripathi Collaborate to spread Fun and Festivity this Diwali with ‘Tyohaar Apne Andaaz Mein'
India, November 10, 2023: Diwali represents a time of joyous celebration, heartfelt togetherness, and the creation of cherished memories with loved ones. Recognizing the pivotal role of women in fostering the spirit of togetherness during Diwali, Mother’s Recipe, a renowned brand known for its delectable and traditional flavors, is thrilled to announce its collaboration with actress Shweta Tripathi for a unique #TyohaarApneAndaazMein campaign. As the name of the campaign suggests – it is about how each one is celebrating their Diwali in their own unique style and how Mother’s Recipe is adding to the festive fervor.
The collaboration between Mother’s Recipe and Shweta Tripathi seeks to encapsulate the essence of Diwali from a woman’s perspective, highlighting the significance of the festival as a time for nurturing familial bonds, spreading joy, creating a vibrant atmosphere filled with laughter and love and of course lots of good food. As families come together to revel in the warmth of the festive season, the ‘Diwali Shayaris’ campaign aims to capture the heartwarming moments shared during this special time.
The Campaign Video:
The Instagram reel for #TyohaarApneAndaazMein is based on Ms. Shweta celebrating her Diwali with a twist of taste, celebrating Diwali in her own style. The campaign, inspired by the spirit of togetherness and the vibrancy of the festival, brings forth a series of ‘Diwali Shayaris’ that infuse a playful and quirky twist to the traditional celebrations, resonating with the joyful essence of both the brand and the esteemed actress. The video features a wide range of Mother’s Recipe products like Chutneys, papads, Pickles, and ready-to-cook spice mixes, which are a true celebration of Indian cuisine and home-cooked food.
Commenting on the campaign, Ms. Sanjana Desai, Executive Director of Mother’s Recipe, “Diwali holds a special place in the hearts of every Indian, especially for women, as we celebrate it with food, family & festivity. Through our collaboration with the talented Shweta Tripathi, we aim to capture the essence of Diwali in a way that resonates with the heart and soul of our consumers.”
10, Nov 2023
Kriti Sanon Unveils Game-Changing Hyphen Lip Balm Line at Spectacular Nykaaland Beauty Extravaganza
10th November 2023, India: Hyphen, the visionary skincare brand, celebrated a groundbreaking moment as Kriti Sanon launched their most awaited product range – The VIP Lip Balms. After the launch, the first reveal of the lip balms was done at the star-studded Nykaaland. The event showcased a unique blend of entertainment, beauty, and skincare, with activities such as customer engagement, influencer participation, and a dedicated booth, all hosted by Hyphen.
At the grand Nykaaland event, which brought the online beauty world into the physical realm, Kriti Sanon personally unveiled the Hyphen Lip Balm range. Nykaaland, an extravagant offline event, offered the perfect stage for the official reveal. The event stood as a testament to the brand’s commitment to delivering high-quality, effective, and affordable skincare solutions, responding to the passionate demands of its cherished customers.
Hyphen’s new Lip Balm range includes the Vitamin-Infused Peptide Lip Balm – Vanilla, designed for all skin types. This product offers deep, long-lasting hydration, lip smoothening, and moisture barrier repair. It harnesses the power of Peptides, Vitamin E, Linoleic Acid, Squalane, and Shea Butter to create a nourishing blend that keeps lips soft and supple. Priced at Rs 349 for a 10g quantity, it can be applied as needed throughout the day.
Additionally, the Vitamin-Infused Peptide Lip Balm – Peach mirrors these benefits, providing the same hydrating, smoothening, and moisture barrier repair advantages. This product, too, is priced at Rs 349 for a 10g quantity, allowing you to enjoy soft, supple lips whenever you like. For those seeking lip protection from the sun, Hyphen offers the All I Need LipScreen – SPF 30, Fragrance & Flavor Free. Suitable for all skin types, this product combines lip moisturization and sun protection. With key ingredients like Vitamin C, Vitamin E, Kojic acid, and Avocado Oil, enriched with Pomegranate Oil, it’s available for Rs 399 for a 10g quantity and should be applied as needed throughout the day.
Kriti Sanon, in her role as Chief Customer Officer, expressed, “As the Chief Customer Officer, I had been reading a lot of comments and DMs asking us to create good lip balms. Honestly, lip balms have always been an essential part of my life and my skincare routine. Today I’m proud and thrilled to introduce Hyphen’s intensely hydrating lip balms, created on popular demand to give you the juiciest, glossiest hydrated lips. We’ve hyphenated powerful ingredients from nature and science to create our lip balm range, packed with vitamins, peptides, and a lot more goodness. I hope our VIP Lip Balms and the All I Need LipScreen make you smile brighter and pout better!”
The Nykaaland launch event was a true reflection of Hyphen’s commitment to innovative solutions that enhance everyday skincare routines. The Hyphen Lip Balm line is now available for purchase on the official website and leading e-commerce platforms, including Nykaa, Amazon, and Flipkart. It delivers the perfect blend of science and nature for all your lip care needs.
10, Nov 2023
Shine on with Navrathan Jewellers Dhanteras Destination for Beauty and Prosperity
As the festival of Dhanteras approaches, Navrathan Jewellers is delighted to invite you to celebrate this auspicious occasion with our exquisite collection of gold and diamond Jewellery, perfect for adding a touch of opulence and tradition to your festivities.
Dhanteras, the festival that marks the beginning of Diwali, is a time to welcome prosperity and good fortune into our lives. At Navrathan Jewellers, we understand the significance of this day and have curated a stunning array of jewellery pieces to help you embrace the spirit of this festival.
Unlock the enchanting era of timeless elegance and grace this Dhanteras by adorning yourself with Navrathan Jewellers. This radiant allure highlights awe-inspiring intricate craftsmanship in astonishing detail, thereby adding value to the precious metal, making it an exquisite piece of Jewellery.
Experience the brilliance of diamonds with our finely crafted jewellery. Our range includes engagement rings, exquisite pendants, and sparkling bangles that make exceptional gifts to celebrate love and prosperity.
In the true spirit of Dhanteras, Navrathan Jewellers is pleased to offer exciting deals on select Jewellery items, making your celebrations even more memorable.
10, Nov 2023
EU-India Innocenter Joins European and Indian Startup Stakeholders, India Key for Global Expansion
Bangalore, India, 10 November 2023: EU-India Innocenter, an EU funded project under the R&I framework programme ‘Horizon 2020’, brings its 8th cohort of seven European startups with over twenty investors and innovation Hubs, to explore collaborations with potential Indian startup stakeholders. EU-India Innocenter, a global innovation hub and growth accelerator connecting the European and Indian innovation ecosystem, is hosting six high-impact startups for a week of India-immersion activities in Bangalore. The startups, Anyline, Nano-tech, Cheesecake Energy, Enline, PVRmed, and Soula AI, provide solutions across key growth sectors spanning from healthtech, clean-tech to deep technology.
The European startups got an opportunity to demonstrate their cutting-edge technologies to startup ecosystem facilitators, including venture capitalists, potential partners, and corporations from India and various European countries, on the first day of their visit at the ‘Blue Carpet Night’ networking event held on 8th November at the Bangalore International Centre.
Throughout the week, the startups and investors will deep dive into the Indian startup ecosystem. The visit includes a roundtable discussion at NASSCOM Future Forge, a field-trip to Tata Elxsi, EU-India partnership roundtable focusing on smart cities and cross-border innovation with Indian real estate leaders, a pitch session with startups and VCs (both from EU and India) organised by KDEM (Karnataka Digital Economy Mission), a visit to DERBI Foundation and the Centre for Cellular and Molecular Platforms (C-CAMP) all in Bangalore.
During the Blue Carpet night event, EU-India Innocenter announced extending its market-entry services to cater to Indian startups interested in exploring the European market. This two-way mobility between European and Indian startups shows how startups are increasingly becoming global.
Congratulating EU-India Innocenter on facilitating successful matchmaking between European and Indian startup businesses, Mr Seppo Nurmi, charge d’affaires, European Union Delegation to India said, “Startups are the pulse of any economy, accelerating innovation and sustainable development. We are glad to see that this EU funded initiative is helping unleash collaborative potential between the EU and Indian startup ecosystem, which we hope will lead to value creation for both economies and citizens.” He added, “The programme extending its market-entry support to Indian startups will further accelerate EU-India collaboration”.
Cristina Russo, Director for Global and International Cooperation in Research and Innovation in the European Commission, recognised the important role of startups in the trade nexus technology challenges. We praise the work of the EU-India Innovation Center for its thorough programme bringing such mature and diverse stakeholders to India. We also welcomed the programme’s initiative expanding support to Indian startups to explore the European market, it reflects well with the work under the recently launched Trade and Technology Council (TTC) between the EU and India.
Varun Mallapragada, Programme Partner at the EU-India Innocenter, said, “We believe in our vision of supporting innovation diplomacy as a significant part of building stronger international relations. We are committed to creating opportunities, fostering collaborations, and shaping the future of tech-driven innovation.”
Rodrigo Olmedo, Programme Partner at the EU-India Innocenter, added, “We are grateful to our ecosystem stakeholders, investors, innovation hubs, and various government bodies across India and Europe, who play a major role in the success of our programme. We thank them all for a wonderful evening of innovation and collaboration and for their interest in sharing our vision of cross-continental innovation exchange.”
Michel Mellis, a seasoned investor in landing and accelerating tech startups, and Innovator from EGI Group, expressed keen interest in the programme’s initiative, adding, “India’s ascent as a global innovation powerhouse presents a golden opportunity for startups eyeing international expansion. The atmosphere is ripe for dynamic global collaborations and innovation.”
The Indian ecosystem of the programme includes innovation hubs and organizations namely, Startup India, Invest India, Tata Elxsi, JLL Idea Labs, KDEM, etc., including enterprises like, Jio, Titan Company Limited, TVS Motors, Accenture, etc. Additionally, it features EU innovation ecosystem players like, Technopol, Krakow Technopark, Hitachi Ventures, Cambridge Cleantech, among others.
To date, EU-India Innocenter has a track record of facilitating eight strategic partnerships from previous cohorts, who are currently in the phase of launching pilot projects in health-tech, clean-tech, deep-tech, logistics, sectors. The programme remains committed to connecting startups, creating opportunities, and strengthening ties between India and Europe through innovation. It continues to be the bridge of innovation for exchanging ideas, expertise, and resources among startups, research institutions, investors, and businesses.
10, Nov 2023
Six Key Market Trends To Watch During The Festive Season
Introduction
Elevated spirits, general optimism, and an auspicious period arrive with India’s festive season. Characterized by gift-giving and robust spending on travel and other discretionary items, the festive season marks a crucial period of the year where economic activity surges. Ever wondered what impact this time of the year may have on the country’s financial markets? With the advent of online trading platforms like Zerodha, Shoonya by Finvasia, Groww, Upstox, and many more, share market experiences have increasingly become accessible, and each day, more and more people take to the world of trading in hopes of generating wealth and building towards a financially secure future. Here, we take a look at six stock market trends that investors should watch out for,
this festive season:
1. Increased Demand For Consumer Discretionary Stocks
Consumer discretionary stocks are those of companies that sell products and services that are not essential for everyday life, but are still in high demand during the festive season. Examples include companies that sell clothing, electronics, and home appliances.
Stocks of companies that sell products and services which may not be essential for everyday life, but still witness high demand during the festive season, are known as consumer discretionary stocks. These companies may be fashion clothing brands, electronic goods retailers, or retailers of other durables. Investors can expect to see increased demand for these stocks during the festive season, as consumers look to purchase new items for themselves and their loved ones.
2. Strong Performance By Small And Mid-Cap Stocks
Small and mid-cap stocks are often more undervalued than large-cap stocks and can offer better returns. During the festive season, small and mid-cap stocks can outperform large-cap stocks as institutional investors tend to focus on large-cap stocks. Investors should consider investing in a basket of small and mid-cap stocks during the festive season to maximize their returns. Platforms like Shoonya by Finvasia, a true-blue zero-brokerage trading platform, offer advanced AI-powered tools to help investors make enhanced trading decisions, increasing their chances of achieving long-term success.
3. Increased liquidity
Increased economic activity may lead to higher trading volumes during the festive season, further resulting in more liquidity in the financial markets. This means that it is easier for investors to buy and sell stocks, as there are more buyers and sellers in the market. This can be beneficial for investors who are looking to enter or exit positions quickly.
4. Sectoral rotation
During the festive season, investors may rotate from one sector to another, depending on their expectations for performance. For example, investors may shift from defensive sectors such as healthcare and utilities to more cyclical sectors such as consumer discretionary and industrials.
Investors should carefully consider their investment goals and risk tolerance before making any sector bets.
5. Increased volatility
The increased trading volume and liquidity during the festive season can also lead to increased volatility in the stock market. This is because investors are more likely to react to news and events during this time, and there is more potential for price swings. Investors should be prepared for increased volatility during the festive season and use risk management strategies to protect their portfolios.
6. Special dividend announcements
Some companies may announce special dividends during the festive season to reward their shareholders. This can lead to a spike in the price of these stocks, as investors look to buy in before the dividend is paid out. Investors should be on the lookout for special dividend announcements during the festive season, but they should also carefully consider the company’s financial health and dividend payout history before making any investment decisions.
Conclusion
Before going all in on the festive season rush in hopes of lucrative returns, investors must take steps to ensure that they make well-informed decisions. Thorough research into the fundamentals of companies is imperative for investors, and they must diversify their portfolios to mitigate risks. Stop-loss orders and position sizing can be used through online trading platforms like Zerodha, Shoonya by Finvasia, Upstox, Angel One, etc. to deploy effective risk management strategies. As the festive season progresses, India’s financial markets present investors with opportunities like never before. With these trends in mind, investors can better position themselves to take advantage of opportunities and mitigate risks during the festive season in India.
10, Nov 2023
Hexagon launches Startup Catalyst Program in India for AI and Digital Reality Innovators in collaboration with T-HUB
India, November 10th, 2023: Hexagon’s R&D Center in India launched its Startup Catalyst Program for all startups working in the areas of Digital Reality and Autonomous Technologies. This program is an exciting new opportunity for startups to apply their ideas and capabilities to emerging but well-defined real-world problems in these areas, and, with Hexagon’s help, build full-scale solutions and take those to Indian and global customers.
This program is being launched with the support of T–Hub, the world’s largest incubation hub, which will bring its knowledge of the Indian startup ecosystem, best practices, and processes, to facilitate, guide and amplify the impact of this program.
Hexagon’s technology finds use in some of the largest enterprises, in critical operations in governments and defence, in manufacturing and process plants, in building smart cities and critical infrastructure, in automotive, shipbuilding, mining, agriculture, and protecting heritage monuments, amongst others. Being at the forefront of Digital Reality and Autonomous Technologies, with a global portfolio of customers, Hexagon brings an exceptional view into the current and emergent problems in these areas.
A startup interested in building up solutions using Artificial Intelligence, Machine Learning and/ or Digital Reality may choose to work on any one of three precise problems by submitting their idea and approach to the program and sharing their credentials:
● Building Digital Twins for EV Manufacturing
● Real-Time Language Detection and Translation
● Enabling Prescriptive Maintenance with AR and VR for Process Plants.
If the submission and credentials stand out, the startup will join a cohort of similarly chosen startups to build a full proof of concept (PoC). Each startup will have a mentor’s help during this period. The finalist from each cohort would win a prize, as well as gain the opportunity to build a full-scale solution working with Hexagon’s domain experts, on Hexagon’s futuristic technologies and platforms. Hexagon and the startups can then take these collaborative solutions to Hexagon’s customer base and scale them across geographies.
Commenting on the launch, Navaneet Mishra, Senior Vice President and Head of Hexagon’s R&D Center India, said “Indian startups are passionate, tech savvy and hardworking. With Hexagon’s Startup Catalyst Program, we are going to help them channel their energies and attention towards precisely defined real-world problems. We will support them with cutting-edge technology platforms, mentors to facilitate the co-solutions, and an opportunity to access global customers. We want to help startups from India scale their innovation globally, this program is an important step in that journey.”
MSR, CEO of T–Hub, said “Collaboration is the cornerstone of innovation, and our partnership with Hexagon for the new cohort of LAB32 represents a significant milestone in T–Hub‘s journey. At T–Hub, we believe in fostering an ecosystem that not only empowers entrepreneurs but also propels them toward global success. This collaboration is a testament to our commitment to providing startups with the tools they need to thrive and make a meaningful impact on the world.”
10, Nov 2023
Festive sale volumes up 37percent over last year: Unicommerce
~Marketplaces grow faster in volumes, brand websites score more on GMV growth~
~Fashion & beauty personal care drove volumes~
~Rajasthan and Uttarakhand became the top two states in terms of e-commerce order
volume growth~
Mumbai, November 10 th 2023: Unicommerce, one of India’s leading e-commerce enablement Software-as-a-Service (SaaS) platforms, has unveiled its analysis of the recently concluded festive season sale of 2023.
The analysis of orders processed through Unicommerce’s platform reveals that e-commerce order volumes grew handsomely this festive season, increasing by approximately 37% during the festive season sale of 2023 as compared to the festive sale period in 2022. In addition to the substantial growth in order volumes, the Gross Merchandise Value (GMV) also saw an increase of 22% during the same festive period.
The success of the festive season sales in parts may be attributed to attracting discounts on online marketplaces and robust advertising campaigns. This has helped marketplaces record an impressive year-on-year (YoY) order volume growth of 39%. Brand websites, on the other hand, also reported a strong 23% increase in e-commerce order volumes.
Interestingly, the GMV reported an inverse trend with brand websites recording a 29% YoY GMV growth, while marketplaces recorded a 21% YoY GMV growth. This may signify that consumers are not only ordering more, but loyal customers are increasingly purchasing directly from their trusted brands, leading to a surge in average order values.
The fashion and accessories segment along with beauty and personal care, emerged as the two most prominent categories in terms of order volumes. These segments displayed consistent growth in both volume and GMV during the festive month. Categories like FMCG and home decor have emerged as strong e-commerce contenders which are now laying inroads for newer segments to flourish in the e-commerce ecosystem.
As per the orders processed through Unicommerce’s platforms, Rajasthan and Uttarakhand took the lead to become the top two states in terms of growth in order volumes, with Haryana in the third position, Uttar Pradesh at the fourth, and Meghalaya in the fifth spot.
Another striking trend observed during the festive season sale was the remarkable rise of prepaid orders this year, increasing by over 45% as compared to last year. In contrast, Cash-on-Delivery (COD) orders grew by 20% during the same period. The surge in prepaid orders can be attributed to lucrative bank offers and convenient EMI options, making it an encouraging trend for the industry.
Speaking on the consumer response during the festive season, Kapil Makhija, CEO of Unicommerce stated, “The festive season determines the growing scale of e-commerce in India. As industry sectors continue to embrace the country’s e-commerce ecosystem, shoppers from across India’s length and breadth are willingly opting for online shopping. We ensure that our technology is easily accessible and deployable for sellers considering the fundamental complexities of the Indian market.
Unicommerce’s e-commerce enablement Software-as-a-Service (“SaaS”) platform enables end-to-end management of e-commerce operations for marketplaces, brands, sellers, and logistics service provider firms.
10, Nov 2023
Gut bacteria protects against diarrhoeal disease
Peer reviewed – Systematic review – people and animals
New Delhi, November 10, 2023: The severity of a diarrhoeal disease could be down to the bacteria in your gut – according to new research from the University of East Anglia.
Cryptosporidiosis is responsible for over 100,000 deaths annually – predominantly in children under five.
It also affects animals, and a new study published today shows that large animals – including primates – with less different kinds of bacteria in their gut are the more severely affected.
It reveals that introducing more diverse gut bacteria can improve outcomes – including reducing diarrhoea and the potential for the disease to spread.
The team, led by Prof Kevin Tyler at UEA’s Norwich Medical School, say that diet, probiotics and faecal transplant therapy could help target the disease by improving gut bacteria in people and animals.
Prof Tyler said: “The vast majority of infections and deaths happen in low-income countries, but outbreaks also occur in the UK and elsewhere in Europe.
“In the UK, the disease is currently re-emerging and cases this year are increasing dramatically, suggesting the disease is currently epidemic. There are no human vaccines and only one drug licensed for human use, which is not effective for many who are affected.
“So, understanding what that can improve outcomes is critical to tackling outbreaks.
“We wanted to know whether some of the variations in symptoms might relate to the make-up of an infected person or animal’s gut bacteria and whether that composition was in turn affected by having cryptosporidiosis.”
The team collected all studies that had looked at the composition of gut bacteria in mammals which were infected by cryptosporidium and for which the data had been made publicly available.
They compared these to answer questions about the significance of gut bacterial diversity and the effect of cryptosporidium infection.
Lead researcher Georgina Hurle, also from UEA’s Norwich Medical School, said: “The Cryptosporidium parasite is one of several microorganisms that cause diarrhoeal disease. It affects both babies and new-born livestock and it can be contracted either from animals or from people.
“Most people contracting cryptosporidiosis will recover naturally, but some people and animals will require treatment, suffer long-term consequences from the infection, and may even die.
“The severity of the disease is known to be affected by prior exposure, so adults are generally less severely infected and recover better.
“We found that more severely affected large animals such as cows, sheep and primates, have less different kinds of bacteria in their gut.
“We also found that having and even introducing more diverse gut bacteria can improve outcomes, reducing diarrhoea and potential for disease transmission.
“Gut bacteria composition can be affected by diet, by consumption of probiotics and pre-biotics and by therapies like faecal transplant therapy.
“Understanding the changes that accompany infections and outcomes provides an opportunity for such relatively affordable but novel therapies in targeting a disease for which very few interventions are currently available.
“This study is important in showing that these approaches may be effective at reducing disease severity in those affected and at-risk groups and populations.”
