Category Archives: Business

RXIL TReDS Platform achieves Milestone of financing Rs. 1 Lakh Crore Invoices

Mumbai – Receivables Exchange of India Limited (RXIL) Trade Receivables Discounting System (TReDS) platform, a joint venture of SIDBI, NSE along with State Bank of India, ICICI Bank, and Yes Bank, has achieved a significant milestone, facilitating financing of over 50 lac invoices worth ₹1,00,000 crore, since its inception providing accessible working capital financing solutions to Micro, Small, and Medium Enterprises (MSMEs).

More than 25,000 MSMEs have registered on the RXIL TReDS platform, emphasizing the TReDS platform’s substantial role in bolstering small businesses within the entrepreneurial landscape. RXIL has also partnered with several state governments, signing MoUs to ensure MSMEs are paid timely on TReDS at highly competitive rates.
TReDS platform operates without recourse to the MSMEs, providing them with the benefit of timely working capital and risk-free financing at competitive rates against their invoices to corporate buyers, CPSEs, PSUs, etc.

In FY 24, RXIL demonstrated exponential growth in invoice financing volumes monthly. Currently, RXIL is enabling monthly financing of INR 6,000+ crores. Looking ahead, RXIL is committed to enhancing its performance further, with a target of invoice financing of ₹75,000 crore in FY 25. This commitment emboldens RXIL’s dedication to fostering the growth and prosperity of MSMEs in India.

Mr. Ketan Gaikwad, Managing Director and CEO of RXIL, on achieving this remarkable milestone, stated, “Surpassing the financing of invoices worth ₹1,00,000 crore is a clear reflection of RXIL TReDS’ persistent dedication to empowering MSMEs across the nation by quick access to working capital. While we celebrate this milestone, it’s imperative to recognize that there’s much more ground to cover. With only 82,000 MSMEs registered on all the TReDS platforms out of 4 crore MSMEs registered on the Udyam portal, there is immense potential for growth and inclusivity. We remain steadfast in our mission to continue bridging the gap between MSMEs and financial institutions, ensuring that every business has access to timely working capital, regardless of their geographical location or size.”

Disclaimer/Disclaimer: This press release serves for informational purposes only and does not constitute professional advice. Any reliance on the information provided is at the reader’s discretion.

Two99 Celebrates a Groundbreaking First Quarter with Exceptional Team Growth, Global Expansion, and Client Success

3rd May 2024: Reflecting on an energizing first quarter, Two99 takes pride in the significant expansion of the team, the introduction of innovative client solutions, and strategic global advancement. With an unwavering dedication to fostering a supportive work environment, Two99 has not only expanded its team by over a dozen skilled professionals but has also successfully maintained a healthy work-life balance. This quarter, they not only surpassed all predetermined objectives ahead of schedule but also laid the groundwork for sustained excellence in the upcoming quarters.

With a revenue of 17 CR and a growth rate of 30%, Two99 has showcased robust performance and resilience within the market. This year, alongside our ongoing initiatives, Two99 is gearing up to unveil a state-of-the-art cybersecurity tool and extend its office presence into the Middle East. Esteemed clients such as Reckitt, LG, and Cycle Aggarbati continue to rely on Two99 for comprehensive solutions aimed at driving revenue growth and maximizing profits. With our expertise and unwavering commitment, Two99 is poised to meet these challenges head-on and deliver success for their clients.

From January to March, Two99 team conducted thorough audits for a dozen brands spanning various sectors, including skincare, home essentials, and travel accessories. These audits were not merely assessments but rather served as the cornerstone for planning JBP FY 24-25, employing a data-driven approach that crafted refined strategies yielding tangible benefits for our clients.

One of this quarter’s standout accomplishments has been their expanded global footprint, now spanning seven countries, exceeding our targets with ample time to spare. Their dedicated teams across branding, technology, and e-commerce have consistently surpassed client expectations. A groundbreaking branding initiative has garnered significant enthusiasm among our clientele, solidifying Two99’s reputation as a trailblazer in the digital marketing arena.

The addition of five new clients and the expansion of two existing partnerships underscore the dynamic approach to client engagement and retention. However, mindful of the commitment to excellence and optimal resource utilization, they made a strategic decision to temporarily pause work with one client to ensure their focus and resources remain maximally effective.

Their E-commerce and Tech, Marketing teams have achieved remarkable results driven by continuous innovation and their proprietary AI-powered marketing algorithm. This algorithm, refined through extensive data analytics, has not only enhanced client market share but also fueled revenue growth.

Moving ahead, the upcoming quarter Two99 promises excitement, with a strategic focus on strengthening the e-commerce and branding initiatives and the highly anticipated launch of our new cybersecurity vertical.

With the dynamic approach and steadfast commitment to innovation, Two99 invites you to embark on this exhilarating journey with us.

Philippos Matthai & Ashad Pasha shines at the INAC Championship

Mumbai, India – 3rd May 2024 – The Indian National Autocross Championship Finals and Time Attack Races, hosted by the Indian Automotive Racing Club (IARC) at the Nanoli Stud Farm near Pune, witnessed an exhilarating display of speed and skill. PhilipposMatthai emerged as a standout performer, clinching the title of the fastest driver in the Time Attack Event and securing numerous FMSCI National AutoCross Championship podiums, highlighting his exceptional prowess on the track. The championship finals also highlighted outstanding performances from Dhruva Chandrashekar, MazdayarVatcha, Nikhil J, Daksh Gill, and NikeetaTakkale, among others, across various categories of races.

In the fiercely contested INAC-Open Class, Matthai’s stellar lap of 1:26.000 in his VW Polo secured him the top spot, leaving his competitors trailing behind. Notably, UdayPilani claimed second place with a time of 11:28.909, followed closely by Naveen Puligilla with a time of 1:33.422 and Nikhil J recorded 1:33.824.

In the INAC 1 Class (800cc to 1650cc), Nikhil J showcased his speed mastery with a blistering fastest time of 1:25.094, leading the pack ahead of DhruvaChandrashekar who recorded 1:26.267, and Ashad Pasha who did a lap in 1:26.854, demonstrated remarkable skill in securing podium finishes.

Ashad Pasha further showcased his talent by dominating double wins in the INAC 2 Class (800cc to 1400cc) and (1401cc to 1650cc) with a commanding time of 1:27.840, closely followed by Mazdayar with 1:32.228 and Kiran Reddy with 1:32.336.

DhruvaChandrashekar’s triumph in the INAC 2 Open Class, with a timing of 1:26:738 in VW Polo, underscored the intensity of competition, with his closely contested victory against PhilipposMatthai and NikeetaTakkale, showcasing the pinnacle of racing excellence.

In INAC 3-Open Class Hyderabad’s MazdayarVatcha emerged victorious with a standout performance of 1:30.657, with Goa’s Amey Desai coming in second with a time of 1:31.277 followed by Praveen Dwarkanath with a time of 1:33.474.

The 4WD Open category witnessed Daksh Gill’s dominance in Subaru, as he claimed the title with an exceptional time of 1:27.786, followed by SravanKuttor who recorded 1:33.222, and Mazdayar with 1:34.002.

In the women’s category of Time Attack event, Pune’s NikeetaTakkale secured first position with a time of 1:31.380 followed by TarushiVikram with 1:32.988 and Nikita Nair coming in 3rd with 2:01.456.

The INAC championships not only showcased the thrilling spectacle of motorsport but also celebrated the exceptional talent and dedication of drivers from diverse backgrounds, setting the stage for future racing endeavors filled with excitement and anticipation.

Honda Cars India registers total sales of 10,867 units in April 2024

Mumbai, 3rd May 2024: Honda Cars India Ltd. (HCIL), the leading manufacturer of premium cars in India, registered total sales of 10,867 units in April 2024 as compared to 7,676 units in the same month last year. The company registered 4,351 units in domestic sales and 6,516 units in exports in April’24.

Sharing thoughts on April’24 sales performance, Mr. Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd. said, “Our planned production volumes in April were lower due to the switchover of Elevate and City production to six-airbag standard variants and the dispatches were aligned accordingly. On the other hand, export of Elevate continues to significantly boost HCIL export volume which grew by 175% over the same period last year.”

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Vadilal Unveils New Quirkiest Summer Campaign Where Joy, Flavor, and ‘WAAH’ Moments Unite

3rd May 2024 Vadilal Enterprise Limited, India’s leading ice cream brand announces the launch of its newest summer campaign, poised to elevate every celebration to its utmost potential. Unveiling a series of three films depicting the significance of celebrations &Vadilal, the brand uniquely showcases “Har moment kobanayeKamaal! WAAH Vadilal!”

The campaign revolves around the central theme of ‘WAAH’, embodying the utter delight experienced by consumers when indulging in Vadilal ice creams. Vadilal captures the essence of celebration through three poignant films, each showcasing moments of life’s milestones that go unnoticed until Vadilal ice cream makes its heartwarming entrance. From the jubilant arrival of a newborn in the hospital to the poignant reunion of a long-lost son in India, and the groundbreaking news of a Mars landing in the newsroom, Vadilal’s presence elevates these moments into indelible celebrations. The films ingeniously convey Vadilal’s essence by humorously echoing the central themes, where protagonists only fully react to the news once Vadilal ice cream is served, emphasizing the joyous association with ice cream as the core ingredient. In a mere fortnight, two out of three campaign films have already graced the screens, captivating audiences with their ingenuity and message. Yet, the thrill continues to mount as the eagerly awaited third film is poised for release in the forthcoming week, promising heightened entertainment and engagement for consumers.

For over a century, Vadilal has woven itself into the fabric of countless family narratives, enriching moments of celebration with its signature flavors, both grand and intimate. Vadilal has cleverly played with the sentiments of the Indian culture where every moment, be it festivals or intimate news is celebrated with delightful treats. Over the past three years, the brand has passionately pursued the essence of the “WAAH” factor in life’s experiences. With each indulgence in Vadilal’s delectable ice creams, protagonists find themselves exclaiming ‘WAAH’, a sentiment Vadilal has embraced and amplified in their cinematic narratives. The films eloquently underscore the idea that every moment, no matter how fleeting, feels incomplete without the joyous presence of Vadilal.

Niraj R. Presswala, General Manager, Marketing & Branding says, “With loyal consumers spanning three generations, Vadilal Ice Creams is thrilled to connect with every age group in the quirkiest way possible this year, and we will continue doing campaigns like these year on year. Our summer ad films promise not only the best laughs but also a trip down memory lane, recalling your fondest celebratory moments. Vadilal has been there for countless “WAAH” moments – from birthdays to anniversairies to new jobs and to making every small moment a WAAH moment in your life. We’re excited to keep being a part of your cherished memories in the years ahead.”

The TVCs are crafted byMoonshot Digital creative agency and feature scripts written by TanmayBhat, DevaiahBopanna, Puneet Chadha, and Deep Joshi, with direction films by Rahul Bharti and production by Zuleikha Gupta at Sun City Studios.

DevaiahBopanna, Co-founder of Moonshot Digital says, “It’s not every day that you get a chance to work on a legacy brand. The challenge of living up to the legacy of Vadilal, while also trying to push the envelope on the creative, is no easy task. Thankfully, we had the unflinching support from the Vadilal team to create something all of us could be proud of. Sometimes, we just need to keep it simple and let the product and the brand do all the talking. So when we hit upon a simple insight that ‘Every moment can be an epic moment if we have Vadilal in it,’ it immediately resonated with all of us.”

Vadilal has been a part of celebrations in India for over a century. From adding its magic to vibrant gatherings and intimate occasions, Vadilal is the secret ingredient elevating and making every moment truly ‘kamaal’. The campaign will be amplified through a mega-media mix with maximum penetration across mediums such as TV, Digital, Print, Radio, OOH, Audio, News Channels, and all brand touch points.

Toyota Kirloskar Motor Records Sustained Monthly Sales Momentum with growth of 32% in April 2024

Bengaluru, 3rd May 2024: Toyota Kirloskar Motor (TKM) has continued to strengthen its growth trajectory by recording a consistent increase in its monthly sales units. The company today announced that 20,494 units were sold in April 2024, representing a Y-o-Y growth of 32%, as compared to April 2023, where the company sold 15,510 units. The growth momentum was sustained despite a weeklong maintenance shutdown from April 06-14, 2024, for upkeep of machinery and equipment to sustain operational efficiencies, productivity and safety.

In the current month, domestic sales accounted for 18,700 units while exports totalled to 1,794 units during the same month.

This success also reflects a significant increase of 48% in first four months of CY 2024, with a sale of 97,503 units, as compared to the same period in CY 2023, where the company sold 65,871 units.

Sales Performance:

Speaking on the sales momentum, Mr. Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “In FY 2023-2024, we demonstrated an unwavering commitment towards quality and customer centricity that pivoted us to report record breaking growth. Inspired by the same determination, we are thrilled to announce that in the month of April 2024, we have recorded a growth of 32% over the same period last year. We believe that this stable performance underlines a strong foundation for another positive year.

At TKM, we are committed to a customer-centric approach with a growing emphasis on providing value-added services that are tailor-made to meet the diverse needs of our customers. Further advancing this goal, we recently launched ‘T GLOSS’ to provide comprehensive car care solutions specifically for Toyota vehicles. T GLOSS provides customers access to quality car care solutions through highly trained professionals, ensuring a delightful ownership experience.

Our product strategy resonates the strong connect with the market, thanks to the diversified portfolio that has enhanced value and delivering delightful ownership experience. In line, we introduced several new grades across key models like Hycross, Fortuner, and Rumion which has enabled our valued customers with a wider choice that fits their lifestyle and mobility needs.

Furthermore, our diversified portfolio has been instrumental in driving our growth. Models such as the Innova Crysta, Innova Hycross, Fortuner, Legender, Urban Cruiser Hyryder, Hilux, and LC300 are leading the charge. Additionally, other offerings like the Camry Hybrid, Glanza, Vellfire, and Rumion have also made significant contributions to TKM’s upward sales trajectory.

The recent addition to our SUV lineup, the All-New Urban Cruiser Taisor, further reflects our commitment to meeting evolving market demands. We sincerely extend our heartfelt gratitude for the overwhelming acceptance of the new product, and we look forward to serving our discerning and value-conscious customers in the country. “

Overview of TKM

Overview of TKM 1st Plant:

Overview of TKM 2nd Plant:

Tata Motors registered total sales of 77,521 units in April 2024

Bengaluru, 3rd May 2024: Tata Motors Limited sales in the domestic & international market for April 2024 stood at 77,521 vehicles, compared to 69,599 units during April 2023.

• Domestic Sales Performance:

• Commercial Vehicles:

Domestic sales of MH&ICV in April 2024, including trucks and buses, stood at 12,722 units, compared to 8,985 units in April 2023.

Total sales for MH&ICV Domestic & International Business in April 2024, including trucks and buses, stood at 13,218 units compared to 9,515 units in April 2023.

• Passenger Vehicles:

Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.

Sesa Football Academy Secures Second Position at the Goa Pro League 2024

Goa, 3rd May 2024: Vedanta’s flagship CSR initiative Sesa Football Academy Senior Men’s Football Team has secured the second spot in the Goa Pro League, the pre-eminent football league in Goa which was established in 1996. In their final league match, Sesa Football Academy beat Young Boys of Tonca 8-0 in a commanding show of attacking football.

Competing with 13 teams during the league, the Sesa Football Academy points total stood at 48 which has further ensured qualification for the prestigious 2024-25 I-League 3. During the league, SFA has scored 55 goals. Joshua D’Silva from Team SFA has been recognized as the top goal scorer in the tournament, with 24 goals to his name.

Mr. Annanya Agarwal, President, Vedanta Sports said, “Football in Goa has witnessed remarkable growth, thanks to the dedication and passion of the athletes at Sesa Football Academy. We sincerely believe that there is abundant talent in our country who can achieve great heights if nurtured in the right manner, not only nationally but on global platforms as well.” He also said: We are committed to nurturing this spirit, empowering young talents to excel and contribute to India’s sporting legacy. Vedanta stands committed in its mission to foster holistic development through sports, ensuring a bright future for our athletes and the nation.”

Speaking on the Occasion Sesa Football Academy team coach Charles Dais said: “I would like to extend heartful congratulations to the players of Sesa Goa Academy team for showcasing determination, skill, and sportsmanship during the league. It is with your dedication and skill, we have managed to set a shining example for aspiring champions. I would also like to give my best wishes to the team for the upcoming 2024-25 I-league 3. Through Sesa Football Academy we would continue to support and encourage the dreams and aspirations of young athletes, who truly represent the future of sports in India.”

SFA aims to develop quality footballers from the state of Goa and across the country by creating an environment for discovering, nurturing, and building talent for Indian Football. The academy identifies and trains talented youngsters, who are passionate about Football at the grassroots level by inducting them into its residential programme and over four years, nurtures and develops them into professional footballers and well-disciplined citizens while taking care of their academic education throughout the residential training programme.

Mr. Navin Jaju, CEO, of Sesa Goa, Vedanta Limited on the occasion said, “Our commitment at Vedanta’s Sesa Football Academy is to empower dreams and cultivate not just players, but ambassadors of our nation and its footballing pride. Heartening to see that our football academy’s training and guidance is shaping the futures of young talents and propelling their aspirations. Congratulations to the players, coaches and staff for the outstanding performance! Keep shining!”

SFA has groomed over 250 footballers since its inception in 1999 and has made a tremendous impact on the football fraternity across the country. Most of the academy alumni have represented the National team, I-League clubs, and prestigious football clubs across the nation. 9 players have earned the National team cap and many alumni have played in the elite Indian Super League (ISL)

Apart from Residential football training programmes through Sesa Football Academy, Vedanta has also launched the Vedanta Women’s League (VWL) in collaboration with GFA, which is one of its one-of-a-kind platforms for aspiring women footballers across Goa state. 430+ Women footballers from across Goa have participated in the last 7 VWL editions.

Ruby Stone Hospitality Introduces Luxurious Properties in Lansdowne and Mussoorie

Mussoorie and Lansdowne, [3rd May 2024] – In the heart of the Himalayas, Rubystone Hospitality is excited to announce the grand opening of its newest resorts in Mussoorie and Lansdowne, marking the beginning of an era of luxury and pleasure. Situated away in Uttarakhand’s peaceful surroundings, these hotels are the height of luxury, offering a wide range of services to satisfy even the most sophisticated guests. Having its expensive, tastefully decorated suites, innovative banqueting spaces for special events, and an exciting gaming area for amusement seekers, Rubystone Hospitality redefines the standard for hospitality excellence.

Enjoy the regional cuisines, health-conscious treats, and house specialties. Every palate will be satisfied with a variety of flavors, from classics to modern treats. The locations also provide a wealth of experiences, with an array of attractions such as the Army Museum, Talkeshwer Mandir, Mussoorie Jheel, Bhatta Falls, and numerous other fascinating places just waiting to be discovered. Both Lansdowne and Mussoorie provide the ideal balance of excitement and leisure, whether you’re looking for adventure or peace.

The founder of Rubystone Hospitality, Mr. Sandeep Singh, says he is pleased to have made this historic statement. “We are excited to introduce two remarkable properties, which provide guests with an unmatched vacation experience in the glory of the Himalayas, in Mussoorie (Rubystone Mussoorie A leisure resort) and Lansdowne (Green Palms Exotic). Every minute spent with us is enriching and unforgettable because of our dedication to providing the best possible hospitality.”

Samsung Offers Exciting Limited Period Deal on Galaxy S23 FE

BENGALURU, India – 3rd May 2024 – Samsung, India’s largest consumer electronics brand, today announced an exciting partnership with Flipkart for its Big Saving Days sale starting May 2. The partnership was announced via a collaborative digital film featuring JB Park, President & CEO, of Samsung Southwest Asia, and Kalyan Krishnamurthy, CEO, of Flipkart Group. In the film, the two leaders break language barriers by speaking with each other in their preferred language using the Live Translate feature of Galaxy AI.

As part of the exciting deals during Flipkart’s Big Saving Days sale, the premium and powerful Galaxy S23 FE, originally priced at INR 54999, will be available at an unbeatable price of INR 33999. This incredible deal incorporates a bank cashback of INR 1000, bringing the best of Galaxy AI features at a remarkable price.

Samsung’s commitment to innovation shines through with the latest software update featuring Galaxy AI in the Galaxy S23 FE. With Galaxy AI, users can harness features like Circle to Search, Live Translate, Photo Assist, and Chat Assist at their fingertips.

Fostering spontaneous interactions, Live Translate offers voice and text translations during phone calls, making it easier to connect globally.

Circle to Search instantly generates intuitive results with a swift gesture, easily extracting information on Google and improving browsing efficiency.

Elevating communication, Chat Assist refines tones and translates messages in 13 languages whilst Interpreter enables live text translations in split-screen views during conversations, breaking language barriers.

Galaxy AI also offers creative features like Browsing Assist that generates concise outlines of news articles and web pages, saving time and ensuring users stay informed effortlessly. Boosting productivity, there is Note Assist which helps in organizations with AI-generated summaries, templates, and translations for effectual notetaking and sharing. Transcript Assist effortlessly transcribes meetings and writes up key takeaways to simplify post-meeting documentation. Tools like Generative Edit unleash creativity allowing for effortless post-shot adjustments whereas Edit Suggestion provides personalized edits with AI-generated suggestions, ensuring every photo shines with professional-quality enhancements.

With advanced hardware and AI-enhanced software, the Galaxy S23 FE delivers a premium smartphone experience, making everyday tasks easier and more efficient. Galaxy S23 FE comes with features such as 50MP (W) + 12MP (UW) + 8MP (OIS) camera with 3X optical zoom that helps capture bright and stunning pictures. The Nightography feature on Galaxy S23 FE provides clear selfies and portraits in lifelike colors, even in the dark. Galaxy S23 FE also comes with a flagship chipset for ultimate performance and Ray Tracing, a technique of graphics rendering that makes reflections, lights, and shadows in a game mirror the real world.