Category Archives: Business

RBI Monetary Policy Reactions by Essar Groups’ spokespersons

by Mr. Pankaj Kalra, CEO, of Essar Oil and Gas Exploration and Production Limited

“Under the guidance of new Governor Mr. Sanjay Malhotra, RBI’s decision to cut the repo rate by 25 basis points, is a move that signals a supportive approach toward sustaining economic growth. This reduction, after nearly five years, will help ease borrowing costs and provide much-needed liquidity to key sectors. For the oil and gas industry, a lower interest rate environment will encourage investment in exploration, infrastructure, and energy transition projects, ensuring a stable and efficient energy ecosystem.”

Enclosed below is the RBI monetary policy reaction quote by Mr. Srinivasan Vaidyanathan, Operating Partner, Essar Capital.

“We welcome RBI’s decision to cut the repo rate by 25 basis points. Led by RBI’s new Governor Mr. Sanjay Malhotra, this rate cut is a timely and strategic move that will provide much-needed momentum to India’s investment cycle. By lowering borrowing costs, this decision will not only support business expansion but also create an environment conducive to long-term capital deployment across key sectors. For investors and businesses alike, a neutral monetary stance, stable inflation, and a projected 6.7% GDP growth signal confidence in India’s economic trajectory.”

Bakingo’s “Layers of Love” Campaign Adds a Sweet Touch to Your Valentine’s Day Celebrations

New Delhi, 10 February 2025 – This Valentine’s Day, Bakingo, a leading online bakery, is spreading love in its most delicious form by launching its “Layers of Love” campaign. Bakingo’s desserts are crafted with layers of flavours, emotions, and memories, honoring the beauty of relationships. From classic favourites to unique fusion creations, each dessert reflects the intricacy behind crafting it.

To bring this vision to life, Bakingo’s Valentine’s collection features an exquisite range of desserts, each reflecting the essence of love in its many forms. From rich, multi-layered cakes symbolizing deep connections to delicate pastries representing tender moments, every creation is designed to make celebrations more meaningful. Just as love is built over time with shared laughter and memories, Bakingo’s desserts focus on precision and the finest ingredients, ensuring every bite is a celebration.

Commenting on the campaign, Mr Himanshu Chawla, Co-founder, Bakingo, said, “At Bakingo, we believe that love isn’t just about the grand gestures, it’s about the little moments that create lasting bonds. With ‘Layers of Love,’ we wanted to translate those emotions into delightful desserts that tell a story in every layer. Whether it’s our top-selling heart cakes or a personalized desserts, we want to be a part of every celebration and make Valentine’s Day extra special for our customers,”.

With “Layers of Love” Bakingo continues its tradition of making every celebration sweeter and special, ensuring that love is cherished in its most flavourful form.

Raymond Limited Announces 5th Major Joint Development Agreement

Chandigarh, 8 February 2025: Raymond Limited (the “Company”) is pleased to announce that its 100% owned step-down subsidiary, Ten X Realty West Limited, has signed a Joint Development Agreement of a prestigious residential project in the prime location of Mahim West, Mumbai.

This landmark project is estimated to have a revenue potential of approximately Rs. 1,800 crore and marks the Company’s second venture in this sought-after area of Mumbai. This also represents the 5th project undertaken by the Company outside of its existing developments in Thane, underscoring its strategic expansion within the Mumbai Metropolitan Region (MMR). This project will be the second residential project that the company will be developing in Mahim West, Mumbai.

This significant development aligns with Raymond Limited’s growth strategy to capitalize on opportunities within the dynamic MMR real estate market. The project is poised to contribute substantially to the Company’s future growth and solidify its presence as a key player in the region. With the addition of this project, the Gross Development Value of Real Estate projects of the company will be close to Rs. 35,000 crores

Life Insurance Council Announcement | New Business Data- Jan 2025

Mumbai, 8th February 2025: The Life Insurance Council has released updated industry business numbers for January 2025, revealing positive trends in key areas. New business premiums (NBPs) underwritten by Indian life insurers have achieved a YTD growth of 7.78% compared to the same period last year. YTD collections grew from ₹283833.52 Crs to ₹305912.09 Crs this year. The life insurance industry saw individual single premiums growing by 16.26% on a Y-o-Y basis, closing at ₹4127.67 Crs for Jan’25, with YTD growth at 14%. Individual non-single premiums reached ₹10632.32 Crs, growing by 10.52% in Jan’25, and YTD collections settled at 14% higher than the corresponding period last year.

This strong performance can be ascribed to the fact that life insurers are increasingly focusing on encouraging first-time life insurance buyers to buy essential life insurance solutions, contributing to the 12.07% growth in combined individual premium collections for the month of Jan’25 and 14% growth on a YTD basis.

The life insurance industry in India has been making significant strides forward by expanding access to insurance and making an effort to reach out to areas and segments of the country’s population that were previously underserved when it comes to their insurance needs. Towards this end, life insurers added more than 872055 individual life insurance agents, with an overall 4.82% growth in cumulative agent count. Still, the sustained pace of agent addition is being complimented by the high speed of digitization by life insurers, paving the way for additional gains in insurance penetration that should provide a significant boost to new business premiums in FY25 and beyond.

FADA President C S Vigneshwar on EV Performance in January 2025

FADA President, Mr. C S Vigneshwar on January’25 EV Performance

“Electric Vehicle retails continued their strong trajectory in January’25, reflecting growing consumer acceptance and robust OEM commitment to clean mobility. The recent Bharat Mobility Global Expo strongly reflected this shift, with the spotlight firmly on green-energy vehicles and industry determined to accelerate the shift toward green energy. With over 30–35 new EV launches expected this year, we anticipate a notable rise in market share across all segments—from two and three-wheelers to passenger and commercial vehicles. The future for electric mobility looks exceedingly bright and we believe it will play a pivotal role in shaping India’s automotive landscape in the months to come.”

Reaction on MPC Announcement

Satish Chandra Aluri, Lemonn Markets Desk

“MPC unanimously voted to reduce the policy rate by 25bps to 6.25% from 6.50% – As widely expected. They unanimously decided to continue with “neutral” stance with an unambiguous focus on inflation.

They also noted that while growth is recovering, it remains below last year’s level, and inflation trends allow for rate easing, RBI Governor Sanjay Malhotra said in his first policy meeting post his appointment in December.

In our view, the outcome was largely along the expected lines with the new governor delivering the first rate cut as widely expected. RBI’s forecasts indicate continued moderation in inflation while growth pick-up is expected to be more gradual indicating the emphasis on supporting growth from a policy perspective while maintaining the “neutral” stance gives them the flexibility to address potential inflation concerns with an eye toward global developments like trade war.”

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ICC DG Dr. Rajeev Singh on RBI’s Repo Rate Cut

Dr. Rajeev Singh Director General, Indian Chamber of Commerce

In regards to the statement issued by RBI on reducing the repo rate, Dr. Rajeev Singh, Director General, of the Indian Chamber of Commerce (ICC) said, “The Reserve Bank of India (RBI) has reduced its key repo rate for the first time in nearly five years by 25 bps from 6.5% to 6.25%. When this rate cut is coupled with the Income Tax Cuts in the Union Budget we feel that the Indian Economy would get both Fiscal and Monetary Boost to move on to a higher growth path. This is an ideal measure with inflation nearing the desired level of 4%.”

94-Year-Old Overcomes Brain Bleed, Leaves Hospital for Granddaughter’s Wedding

Mumbai: A team led by Dr Viswanathan Iyer, Brain and Spine Surgeon, Zynova Shalby Hospitals, Ghatkopar, Mumbai successfully treated a nonagenarian with a bleed on both sides of the brain. The woman’s courageous journey through surgery to attend her granddaughter’s wedding showcases the power of family determination and expert medical care. Despite advanced age, a successful brain surgery enables her to walk out of the hospital, healthier and more vibrant than ever.

Vimlaben Shah (94), a resident of Ghatkopar, was rushed to Zynova Shalby Hospital with a severe headache and difficulty walking. However, the patient got a second lease of life due to timely intervention. This patient’s drive to be present for her granddaughter’s wedding was so powerful that it became her motivation as well. She not only recovered from surgery but defied every expectation. She walked out of the hospital with her head held high and with her entire family by her side.”

Dr. Viswanathan Iyer, Brain and Spine Surgeon, Zynova Shalby Hospitals, Ghatkopar, Mumbai said, “The patient was weak on the left side and with severe imbalance. Her MRI scan of the brain was done and there was a clot in the brain. The reason for bleed is aging and trivial trauma. She was scheduled for Bilateral Subdural Hematoma Evacuation. We drilled two holes on each side of the skull under anesthesia and evacuated the bleed and the surgery lasted around 90-120 minutes. Without surgery, the patient has no chance to improve, her health may have deteriorated and she could also have lost consciousness.”

With family support and a resolute spirit, the patient underwent surgery and made a remarkable recovery in just two days. Her determination to be fit enough to attend her granddaughter’s wedding drove the family to make an extraordinary choice, resulting in an inspiring recovery and a joyful family reunion.

“I was determined to attend my granddaughter’s wedding, no matter what. I knew I had to be there to bless her on her special day. Despite my age and the challenges I faced, I was motivated to recover. I was in no way going to miss my granddaughter’s D-DAY. After all, it was one of the best moments of her life, her dreamy wedding which we had been planning for a long time to make memorable. Thanks to Dr. Iyer’s timely treatment and expert care and with my family’s support, I was able to overcome the stroke and walk out of the hospital just in time. I ordered three sarees from Rajkot and was proud and elated to be able to wear them during the wedding and welcome all the guests as well as supervise all the arrangements by myself. I am forever grateful to him for giving me the chance to witness this joyous moment in my family’s life. I was also emotional after seeing the smile on my granddaughter’s face as she hugged me with immense contentment,” concluded the patient Vimalben Shah.

OPG Mobility Launches the ‘Silent Miles Referral Program

New Delhi, 08th February 2025: OPG Mobility (formerly known as Okaya EV), a trusted name in the electric mobility sector, has launched a one-of-its-kind scheme – the Silent Miles Referral Program Exclusively for its community Owners. This unique initiative gives its customers a chance to earn cashback on every successful referral.

Under this program, Ferrato owners can instantly earn ₹1,000 by sharing their unique referral code with a friend who purchases a Ferrato electric two-wheeler. Both the referrer and the referred individual receive an instant bank credit upon successful retail purchase. The referral process is seamless, customers can simply share their unique code via WhatsApp or email and earn instant cashback rewards for every successful referral. With no cap on the number of referrals, customers can keep earning as they expand India’s green mobility revolution.

Customers can share their unique referral code via WhatsApp or email to start earning rewards with each successful referral. This initiative is a great way to promote the widespread adoption of sustainable mobility solutions in the growing electric vehicle market. With no limit to the number of referrals that can be made, it enables customers to refer as many friends as they like, benefiting from every successful purchase.

OPG Mobility recently unveiled the Ferrato ‘DEFY 22’, an all-new electric scooter introduced at the Bharat Mobility Global Expo 2025 on 17th Jan.’25. Designed for the modern Indian rider, DEFY 22 blends cutting-edge performance, safety, and stylish design, all while being affordable and eco-friendly. With this latest addition to the Ferrato lineup, customers now have even more options to switch to electric mobility while benefiting from the Silent Miles rewards program.

“Our customers are at the heart of everything we do, and the Silent Miles Referral Program is our way of recognizing their commitment to sustainable mobility,” said Anshul Gupta, Managing Director, of OPG Mobility. “This initiative is not just about referrals, it’s about building a movement. By rewarding our loyal customers for championing electric mobility, we are fostering a strong, engaged community that shares our passion for innovation, performance, and a greener future.”

The referral program is open to all Ferrato two-wheeler owners aged 18 and above who are Indian citizens. Cashback is credited instantly upon the successful referral and purchase of a Ferrato two-wheeler.

LatentView Analytics Q3FY25: 37.5 Percent YoY Growth, 22.1 Percent EBITDA Margin

Chennai, India – February 08, 2025: LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global data analytics, consulting, and solutions firm, today announced its financial results for the third quarter of FY25, which ended on December 31, 2024.

Commenting on the results, Rajan Sethuraman, Chief Executive Officer, of LatentView Analytics, said, “We are pleased to announce our 8th consecutive quarter of revenue growth, with 9.0% QoQ and 37.5% YoY increase. This strong performance was driven by momentum in consulting, GenAI projects, and new client wins. This quarter marked several significant milestones, including a $3.2Mn engagement win, our highest value single contract with our largest client, reinforcing our strategic partnership and client centricity. Additionally, we also onboarded 9 new clients, including 3 former clients, indicating strong business momentum and improved market sentiment. During 9MFY25, we won 10 GenAI projects, and we continue to invest in building our GenAI capabilities. Notably, our financial services vertical witnessed a significant growth of 62% on a YoY basis during the quarter. As we enter FY26, we remain committed to deepening our client relationships, leveraging cutting-edge technologies, and capitalizing on emerging opportunities to drive growth momentum. ˮ

Rajan Venkatesan, Chief Financial Officer, of LatentView Analytics, said,
“For Q3FY25, we reported a total operating revenue of ₹2,278 million with an adjusted EBITDA margin of 26.1%. This margin is before factoring in acquisition-related costs and non-operating forex losses (primarily associated with intra-group loans). On an adjusted basis, our EBITDA margin improved by 360bps on a QoQ basis. As of December 31, 2024, our headcount stood at 1,622 and investments remained strong at ₹10,498 million, reflecting our financial stability and continued operational strength. ˮ

Large Deal Win
LatentView has secured a $3.2Mn deal with a multinational technology company to partner with their Analytics and Decision Support team. The project involves delivering a unified and scalable business intelligence, and data engineering solution to streamline operations and improve decision-making.

Select Key Client Wins in Q3FY25

• For a leading US telecommunications company, we are developing automated machine learning frameworks to improve network reliability through early detection of bandwidth bottlenecks.
• For a hi-tech manufacturing company in the oil and gas segment, we are supporting their digital transformation to improve product reliability, costs, and customer and employee experience.
• We are aiding an American multinational data center and communication network infrastructure provider to better align their web content strategy with trend spotting and consumer preferences.
• For a leading consumer sales and marketing agency, we are delivering precise sales forecasting using AI/ML and our ConnectedView accelerators.
• We are developing a guest lifetime value prediction model for a leading US-based cruise line to forecast customer spending behavior, driving revenue growth, and enhancing customer loyalty.

Other key highlights:

• Remadevi Thottathil (Rema) has been appointed as the Chief Human Resources Officer, reinforcing our commitment to driving growth through the strength and talent of our people.
• We hosted the 18th edition of the LatentView Roundtable, Hype to Hypergrowth – Deriving ROI from AI, in the Bay Area.
• Marking the third year of LatentViewʼs IPO, we held our first Investor Day, titled EvoLV, in Mumbai in November.

Other major events were Datanomics: Powering CX 2.0 in Financial Services with GenAI, New Jersey, AI Risk G Reward: Navigating the Business Landscape, Germany, and Game Off Shores: Get Your Analytics and AI Forces Together in Bengaluru.