Category Archives: Business

Udaipur Cement Works Limited doubles its Clinker Capacity to 3 Million Tonnes Per Annum

Mumbai, 20th October, 2023: Udaipur Cement Works Limited (UCWL), a subsidiary of well-known cement major, JK Lakshmi Cement Ltd, has taken a significant step for increasing its cement production with the expansion of its Clinker facility. The Company announced the commissioning of its Clinkerisation Unit of 1.50 Million Tonnes Per Annum (MTPA) at Udaipur. With this, the Company doubled its Clinker capacity from 1.50 MTPA to an impressive 3 MTPA. This strategic decision of expansion reflects with UCWL’s long-term objectives to meet the evolving cement consumption patterns in its operational regions.

This growth is facilitated by the availability of adequate Land and the necessary Limestone Reserves at the Company’s existing Mines. The Company is expecting a noticeable surge for the demand of cement in the coming years and this expansion will assist the Company in supplying cement to a larger customer base.

Mr. Shrivats Singhania, Director & CEO of Udaipur Cement Works Limited, emphasized the importance of adapting to market dynamics, saying, “To sustain and flourish in this demanding and competitive market, it is imperative for us to adapt, cater and grow with the consumption trends. We foresee a substantial uptick in the cement demand in the upcoming years, and this expansion project is our response to ensure a smooth and resilient supply chain that can effectively cater to this escalating demand. With this clinker capacity expansion, we are well-prepared to serve our customers and partners efficiently. I am delighted to share that our commitment to expansion remains unwavering, and by the end of FY 23-24, our total cement capacity will more than double to 4.7 MTPA from the existing 2.2 MTPA.”

Through its emphasis on systematic growth and a balanced framework, UCWL is committed to create value for all its stakeholders- from employees to customers to the broader community – and is poised to continue to make a positive impact in future as well.

This Capacity Expansion of the Company has been funded through a Mix of Debt & Equity. The Company has recently successfully completed its Rights Issue of Rs.450 Crores.

UCWL takes pride in its two reputable brands in its portfolio – “Platinum Heavy Duty Cement,” and “Platinum Supremo Cement” catering to a wide spectrum of construction needs, and a premium offering tailored for roofing solutions, ensuring structural strength and durability. Both brands have garnered a strong presence and earned respect in the markets of Central, West and North India.

UCWL is known for its dedication to renewable energy and environmental sustainability. The Company boasts of installing the first of its kind in the State of Rajasthan & the only one in the entire Indian Cement Industry, a Floating Solar Power Plant of 1 MWp at its Mines. The Company now meets almost 50% of its Power Requirement from Renewable Sources making it a leader in eco-friendly manufacturing practices. Additionally, UCWL actively pursues its Corporate Social Responsibility through various welfare schemes such as “Ajivika,” which uplifts underprivileged women and children residing in proximity to its plant.

Airtel Xstream Play achieves 5-million-paid-subscriber milestone

Chennai, India, October 20, 2023: Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today, announced that its video streaming service, Airtel Xstream Play, has crossed the five million paid subscriber mark in October and continues to be the fastest growing OTT aggregator in the country.

Airtel Xstream Play offers India’s largest bouquet of OTT content aggregated on a single app. Customers have access to premium content from partners such as Sony LIV, Lionsgate Play, Chaupal, Hoichoi, FanCode, ManoramaMax, ShemarooMe, Alt Balaji, Ultra, ErosNow, EPICon, Docubay, Playflix, etc. and can watch 40,000+ movie titles and shows from 20 content partners on the Airtel Xstream app with a minimum recharge of Rs. 148.

Commenting on the milestone, Adarsh Nair, CEO – Airtel Digital, said: “Although India has 40+ OTT apps and a wide selection of premium video content, discovering and paying for this content is challenging. Airtel Xstream Play helps to bring together the largest selection of premium OTT apps under one app and one price. We recently added Alt Balaji, Fancode and Playflix bringing us still closer to our ambition of having the widest selection of premium content and twenty million subscribers.”

A wide variety of series, movies and sporting content has garnered heavy user interest on the platform lately. Forty-seven per cent of the time spent on the platform was spent on series such as Scam 2003 and Scam 1992 while movies came a close second with a 37per cent split led by regional blockbusters such as Carry on Jatta (Punjabi), Por Thozhil (Tamil) and Voice of Sathyanathan (Malayalam). Sporting content has also emerged as a fan favourite with Asian Games and the bilateral cricket series between Australia and South Africa.

Omega Seiki Mobility Private Limited Signs MoU with Honda Power Pack Energy Private Limited for Swappable Battery Technology

New Delhi, 20th October, 2023 – Omega Seiki Mobility Private Limited, has taken a significant stride towards revolutionizing the Indian electric mobility landscape through a strategic partnership with Honda Power Pack Energy India Private Limited. This ground-breaking collaboration ushers in a new era of swappable battery technology designed to reshape the electric vehicle (EV) market in India. As part of this transformative tie-up, Honda Power Pack Energy India, a subsidiary of the globally acclaimed Honda Motor Co., Ltd., will provide Omega Seiki Mobility with cutting-edge swappable batteries and establish a network of quick interchange stations in Tier 1 cities across India.

This partnership underscores a shared commitment to sustainability and innovation, with a strong focus on advancing the electrification of mobility in India. The collaboration between Omega Seiki Mobility and Honda Power Pack Energy India holds the promise of shaping the future of electric mobility in India, offering cost-effective, eco-friendly, and convenient last-mile transportation solutions.

Battery swapping is nothing short of a game-changer in the realm of electric mobility. Its lightning-fast refuelling, eradication of range anxiety, life-extending benefits for EV batteries, budget-friendly approach, and significant eco-warrior advantages collectively make it a transformative technology. By offering rapid, convenient, and environmentally responsible solutions, battery swapping not only accelerates EV adoption but also paves the way for a cleaner and more sustainable future. It addresses the crucial concerns of time, range, longevity, affordability, and environmental impact, making it a compelling choice of electric vehicles.

Mr. Uday Narang, Founder and Chairman of Omega Seiki Mobility, passionately remarked on this ground-breaking collaboration: “In joining forces with Honda Power Pack Energy India, we embark on a thrilling journey towards reshaping India’s electric mobility landscape. The swappable battery technology represents a paradigm shift, offering unparalleled efficiency and environmental advantages. It perfectly aligns with our vision of rapid, clean, and accessible electric transportation. This partnership is not just about mobility; it’s about empowerment, innovation, and a greener, more promising future for all of India.”

“In the next two years, we intend to implement Honda e: Swap Technology in over 10,000 vehicles in the Passenger and Cargo segments” Added Mr. Narang

While signing the MoU, Mr. Tomohide Haraguchi, Vice President of Technology and OEM development, Honda Power Pack Energy India. said, “We sincerely welcome our collaboration with Omega Seiki Mobility, which is strategically and innovatively opening up the world of electric mobility in India. The lithium-ion battery technology and know-how that Honda has cultivated over many years in the global 4-wheeler market were concentrated in this swappable battery pack called Honda Mobile Power Pack e:. This safe and reliable lithium-ion battery pack offering will surely accelerate the expansion of Omega Seiki Mobility’s sales expansion of innovative electric vehicles.”

Honda Power Pack Energy India (HEID) offers cutting-edge battery swap technology designed to revolutionize India’s electric vehicle landscape. With the Honda e:swap service, HEID enables auto rickshaw drivers to conveniently swap discharged batteries (Honda Mobile Power Pack e:) with fully charged ones at strategically located battery stations, often situated at Hindustan Petroleum Corporation Limited (HPCL) petrol stations and metro stations. This innovative technology significantly reduces initial EV purchase costs, alleviates concerns about range limitations, and minimizes downtime associated with battery recharging. HEID intends to develop an extensive battery swap network, initially in Bengaluru and expanding to other Tier 1 cities, underscores its dedication to promoting greener and more accessible mobility solutions in India.

Omega Seiki Mobility’s upcoming EV Three Wheeler (Cargo and Passenger) will be equipped with HEID’s intelligent swappable batteries utilizing advanced lithium-ion technology. These state-of-the-art batteries are poised to enhance overall vehicle safety and performance offering to eliminate range anxiety. The extensive network of quick interchange stations will empower electric three-wheeler drivers to effortlessly exchange their batteries in less than two minutes, effectively addressing concerns related to range limitations and long refuelling times.

Omega Seiki Mobility’s vision for India’s future lies in the rise of electric mobility applications across all categories. Currently, OSM hosts a Pan-India network of 180 Plus dealerships and is aggressively expanding at the pace of one dealer per week. The company is one of the few firms in the market that uses backward integration to manufacture products in the country. In order to connect automobiles and society, Omega Seiki Mobility’s goal is to eventually establish a clean environment with environmentally sustainable, secure, and congested-free transportation. One of India’s top incubators for clean energy, OSM has come to represent India’s success in sustainability. By utilizing data-driven, smart engineering, the electric vehicle manufacturing company seeks to advance future mobility with green energy at its foundation.

ICCPL foundation organizes a food drive on Navratra

Noida: ICCPL foundation, the CSR division of Noida-based leading business organization ICCPL group, organized a free food drive for over 600 people to mark the start of festivities.

ICCPL Foundation was established in 2020 with the vision to help people during the COVID-19 pandemic. During the pandemic, the foundation helped a lot of people with jobs, donations, free medicines, and hospital supplies. The foundation since 2020 has been actively participating in community health initiatives and has also helped underprivileged families to provide better education for their children. ICCPL foundation regularly organizes free food distribution for thousands of people and on the auspicious occasion of Navratra the foundation yet again organised free food distribution for over 600 people in sector 63, Noida.

Speaking about the initiatives, Dushyant Sinha, Founder of ICCPL Foundation said, “We would like to expand our initiatives to benefit more. We are trying to build a strong team for that and very soon will be announcing our further plans.”

7 Strategies for Effective Personal Finance Management

Personal finance management is the cornerstone of financial well-being and the gateway to achieving your life’s aspirations. However, navigating the world of personal finance can be a formidable task for many, especially when the tides of economic uncertainty and market volatility are ever-shifting. However, with the right guidance and a well-crafted plan, you can not only weather the financial storms but also flourish in your budgetary endeavors. As the complexities of financial decisions continue to grow, and the choices available for managing and growing your money multiply, a structured approach to personal finance is indispensable. In this article, we bring you seven invaluable strategies for achieving effective personal finance management that will pave the path to your desired financial outcomes.

1. Set SMART financial goals

SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. A SMART goal is a clear and realistic statement of what you want to accomplish with your money within a certain period of time. For example, a SMART goal could be: “I want to save Rs. 10,00,000 for a down payment on a house in two years.” Setting SMART goals helps you focus on your priorities, track your progress, and motivate yourself to take action.

2. Save and invest for the long term

Saving is setting aside money for future use, while investing is putting money into assets that can generate income or appreciate in value over time. Saving and investing are essential for building wealth and achieving your long-term financial goals, such as retirement, education, or home ownership. You should save and invest regularly and consistently, using a diversified portfolio of low-cost and low-risk products that match your risk tolerance and time horizon. Some examples of saving and investing products are bank accounts, certificates of deposit (CDs), mutual funds, exchange-traded funds (ETFs), stocks, bonds, real estate investment trusts (REITs), etc.

3. Use zero/low brokerage trading platforms for investment

Brokerage is the fee that you pay to a broker or an intermediary when you buy or sell securities or other financial products. Brokerage can reduce your returns and increase your costs of investing. Therefore, you should use zero/low brokerage trading platforms that offer commission-free or low-cost trading services for various segments such as equity delivery (buying and holding stocks), equity intraday (buying and selling stocks within the same day), futures and options (derivatives contracts based on underlying assets), currency (foreign exchange), and commodities (raw materials). Shoonya by Finvasia, Upstox, Zerodha, Groww, and Angel One are some key zero/low brokerage trading platforms in India.

4. Create a realistic budget

A budget is a plan that shows how much money you expect to earn and spend in a given period of time, usually a month. A budget helps you allocate your income to your expenses, savings, and investments. It also helps you identify and avoid unnecessary or wasteful spending. To create a realistic budget, you need to track your income and expenses for at least a month, categorize them into fixed and variable costs, and adjust them according to your goals and needs.

5. Build an emergency fund

An emergency fund is a savings account that you use only for unexpected or urgent expenses, such as medical bills, car repairs, or job loss. An emergency fund helps you cope with financial shocks and avoid taking on high-interest debt. Ideally, you should have enough money in your emergency fund to cover at least three to six months of your essential living expenses.

6. Pay off high-interest debt

Debt is money that you owe to someone else, usually with interest. High-interest debt is debt that charges a high annual percentage rate (APR), such as credit cards, payday loans, or personal loans. High-interest debt can quickly accumulate and eat up a large portion of your income. Therefore, you should pay off high-interest debt as soon as possible, starting with the one that has the highest APR. You can use various methods to pay off debt, such as the snowball method (paying off the smallest balance first), the avalanche method (paying off the highest APR first), or the balance transfer method (transferring your debt to a lower-interest card or loan).

7. Protect yourself and your assets with insurance

Insurance is a contract that transfers the risk of financial loss from you to an insurance company in exchange for a premium (a regular payment). Insurance helps you protect yourself and your assets from unforeseen events that can cause significant damage or loss, such as accidents, illnesses, disasters, thefts, lawsuits, etc. You should have adequate insurance coverage for your health, life, property, liability, and disability needs. You should also review your insurance policies periodically and update them according to your changing circumstances.

In today’s complex financial landscape, the path to financial freedom requires not just understanding but action. Along with budgeting and savings, investments play a crucial role in ensuring your financial independence. In an age of limitless options, zero/low brokerage platforms like Shoonya by Finvasia, Angel One, Groww, Upstox, and Zerodha can be invaluable partners in your financial journey. With a holistic and structured approach toward managing personal finances, you can improve your financial literacy, security, and freedom. Remember, personal finance management is a continued process that requires discipline, patience, and perseverance.

Startup Odisha Yatra & Startup Xpress collects 30 plus ideas on Day 28

Bhubaneswar, 20th October, 2023: The Odisha Startup Yatra and Startup Xpress continued its journey across various schools and colleges of the state and gathered 37 more ideas on the 28th day. Total tally of ideas has crossed the 3000 mark, making it one of the most successful editions. Going forward several bootcamps are scheduled to be held at different institutions in the coming days. It is poised to establish a groundbreaking precedent for engaging the student community in the state’s development process, while also nurturing the seeds of entrepreneurship within them.

On Thursday, the 3 bootcamps were conducted at district level that received 37 ideas with participation from 327 students.
Over the past 28 days, an impressive total of 30,000 plus students from 206 colleges and 62 schools in Odisha have actively participated. As this remarkable initiative enters its final phase, we anticipate a surge in innovative ideas from our students. This impressive journey underscores the students’ unwavering commitment to becoming the driving force behind their community’s growth, with entrepreneurship as their undeniable passion.

As Odisha aspires to foster and support 5000 startups by 2025, the Odisha Startup Yatra and Startup Xpress play pivotal roles in bringing this vision to fruition. They serve as launchpads for idea generation, particularly among school and college students, consistently setting a high standard with their innovative and out-of-the-box concepts.

On Thursday, 3 bootcamps were conducted in two colleges of Subarnapur District and one school of Rourkela. To Sensitize school students and give them a broad idea of entrepreneurship, Xpress bootcamp was held at DAV Public School(Rourkela). While the two Yatra bootcamps were held at Sonepur College & Model Degree College in Subarnapur District.

The excitement and enthusiasm from the student community was palpable with their passionate pitches.

The aim of Startup Odisha Yatra and Startup Xpress 2023 is to encourage grassroots innovators and promote entrepreneurship among them.

After remarkable achievements in the past edition, this year Odisha Startup Yatra aims to leap forward by visiting 200+ colleges and 60+ schools thus impacting 25,000+ students. With a core focus on guiding and empowering young minds at the grassroot level in the realms of innovation and entrepreneurship, the initiatives seek to equip them for harnessing the ample opportunities within the startup ecosystem.

Ambuja Cement’s Bhatapara Plant Bags APEX India OH&S ‘Platinum Award’ for Superior Safety Practices

Bangalore, 20th October 2023: Ambuja Cements, the cement and building material company of the diversified Adani Group, has been awarded the prestigious APEX India Occupational Health & Safety (OH&S) ‘Platinum Award’ for 2023 for its Bhatapara plant.

This award was conferred upon Ambuja Cements at a recent event in Udaipur for their commendable safety protocols implemented at the Bhatapara plant. The Apex India Safety Awards, a hallmark of safety excellence in India, saw the Bhatapara Unit’s representatives receive the award in the large-scale manufacturing category.

The honour was conferred by Member of Parliament, Mr. Manoj Tiwari in the presence of Dr. Avneesh Singh, ex-Director General of DGFASLI, Ministry of Labour & Employment and Retired Major General P K Saighal.

This recognition solidifies the company’s commitment to safety and the measures implemented to build a safe and healthy workspace. These accolades bring to light our dedication to sustainable practices, emphasizing our drive to adopt the best methods concerning health, safety and the environment. Through the company’s robust safety initiatives, we have been able to ensure a safer workplace for our human capital.