Champion Mirabai Chanu Unveils MMTC-PAMP’s ‘Virasat’ Recycled Gold Coin to Celebrate India’s 80th Year of Independence

New Delhi, Aug 04: Marking the 80th year of India’s Independence, MMTC-PAMP, India’s only London Bullion Market Association (LBMA) Good Delivery gold and silver refiner, today officially launched ‘Virasat– Celebrating 80th Year of India’s Independence,’ a limited-edition 10g commemorative gold coin crafted entirely from 999.9+ pure recycled gold, at Taj Mansingh, New Delhi. The coin was unveiled by Champion Mirabai Chanu, Olympic silver medallist and three-time Commonwealth Games gold medallist, who also became the first recipient of the commemorative edition in recognition of her extraordinary contribution to Indian sport and her role in inspiring millions of Indians.

Fresh from creating history by becoming the first Indian weightlifter to win three consecutive Commonwealth Games gold medals, Mirabai Chanu embodies the spirit of resilience, perseverance and excellence that has shaped India’s journey over the last eight decades. By presenting the inaugural Virasat coin to one of India’s most celebrated sporting icons, MMTC-PAMP pays tribute not only to the nation’s achievements but also to the individuals whose dedication continues to elevate India’s standing on the global stage.

Crafted in 10 grams of 999.9+ fine (24K) recycled gold, the coin features a premium minted finish and is presented in MMTC–PAMP’s tamper-proof packaging with certified purity authentication. Limited to only 8,000 pieces, the exclusive edition coin will be available through MMTC-PAMP retail stores, authorised channel partners and the company’s website.

Speaking on the occasion, Mr. Samit Guha, Managing Director & CEO, MMTC-PAMP said, ” As India celebrates the 80th year of Independence, Virasat is our tribute to a nation that continues to inspire the world through its resilience, innovation and achievements. We are honoured to present the first Virasat commemorative coin to Mirabai Chanu, whose remarkable journey embodies the determination and excellence that define modern India. Just as MMTC-PAMP is committed to building a more responsible and self-reliant precious metals ecosystem through sustainable practices such as gold recycling, Mirabai‘s relentless pursuit of excellence reflects the same spirit of commitment and dedication towards the nation. Through Virasat, we celebrate not only India’s glorious past but also the people who continue to shape its future.” 

The launch reflects MMTC–PAMP’s commitment to responsible sourcing while supporting the Government of India’s broader efforts to reduce dependence on imported gold, conserve foreign exchange, and advance the Hon’ble Prime Minister’s vision of Aatmanirbhar Bharat.

India remains one of the world’s largest consumers of gold and imports over 90 per cent of its annual requirement. As demand for precious metals continues to rise, responsible recycling has emerged as a critical pillar in building a resilient and self-reliant ecosystem. By refining and reintroducing existing gold into the formal economy without compromising purity or quality, MMTC-PAMP is helping create a more sustainable supply chain while reducing dependence on imports. India’s gold imports touched nearly US$72 billion in FY2025-26, highlighting the growing importance of strengthening domestic recycling infrastructure.

The launch of Virasat further reinforces MMTC–PAMP’s long-term commitment to creating an organised ecosystem for precious metals recycling in India. The company currently operates 17 gold recycling stores across the country and continues to expand responsible recycling infrastructure to make recycling more accessible and transparent.

Earlier this year, MMTC-PAMP also introduced the industry’s first organised buyback programme for silver coins, bars and jewellery across select retail stores in India. The initiative enables consumers to securely sell their silver holdings through an organised channel while encouraging recycling and supporting a more circular economy for precious metals.

As India enters its ninth decade of Independence, Virasat– Celebrating 80th Year of India’s Independence stands as a timeless tribute to the nation’s remarkable past, dynamic present and sustainable future. More than a commemorative collectible, the coin celebrates the enduring values of resilience, innovation and responsibility that continue to define India’s progress.

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Olive Hospitality Opens Four New Hotels, Enters North India with Gurugram Launch

Aug 03: Olive Hospitality, the hospitality platform of Embassy Group, today announced the opening of four new hotels across Hyderabad, Gurugram, Visakhapatnam and Bengaluru. The launches add 165 operational keys to the portfolio, taking the company’s operating footprint to 67 hotels while marking Olive’s entry into North India through its first property in Gurugram.

With these openings, Olive now operates 67 hotels comprising 2,599 keys, while its signed portfolio has grown to 142 properties representing 5,641 keys across 24 cities. The latest additions reflect Olive’s continued focus on building density within India’s strongest commercial corridors while selectively expanding into new markets with long-term demand fundamentals.

The Gurugram opening represents an important milestone for the company as Olive enters North India for the first time. Located close to Golf Course Extension Road and Cyber City, the property establishes a strategic foothold in one of India’s largest corporate markets and provides a platform for future expansion across the NCR region.

The newly launched hotels are strategically located within some of India’s fastest-growing commercial ecosystems:

·         Olive Hi-Tech City strengthens the company’s presence in Hyderabad’s technology corridor, with convenient access to HITEC City, Madhapur, Gachibowli and the Financial District.

·         Olive Gurugram establishes Olive’s first presence in North India, serving one of the country’s largest business and corporate travel markets.

·         Olive JP Nagar further consolidates Olive’s footprint in Bengaluru, with excellent metro connectivity and proximity to the Bannerghatta Road business corridor.

·         Olive Visakhapatnam expands the brand into one of Andhra Pradesh’s thriving business, healthcare and tourism destinations.

Commenting on the expansion, Kahraman Yigit, Co-founder and CEO, Olive Hospitality, said: “These openings represent another important milestone in our journey and reflect the commitment of our team, our owners and our partners. Following the successful launch of India’s first Spark by Hilton hotels earlier this year, it’s encouraging to see our multi-brand platform continue to execute across different markets and customer segments.”

He added, “While our first opening in Gurugram marks an exciting step into North India, our broader strategy remains consistent. We will continue to grow thoughtfully in India’s strongest business corridors, focusing on markets where we believe we can create long-term value for both our hotel owners and our guests. As we scale, our priority remains building a technology-enabled operating platform that combines operational excellence with a consistently high-quality guest experience.”

These openings build on Olive Hospitality’s momentum during the first half of the year, including the successful launch of India’s first Spark by Hilton hotels in Bengaluru and Goa. Together, they continue Olive’s evolution into a multi-brand hospitality platform spanning Olive Hotels, Spark by Hilton and Open Hotels. As the portfolio grows, the company remains focused on disciplined execution, operational excellence and creating long-term value for its owners, partners and guests.

Sundaram Finance disbursements grew by 22% to Rs. 8,947 crores in Q1FY27

Aug 03: The Board of Directors of Sundaram Finance Ltd. (SFL) approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its meeting held on August 3, 2026, in Chennai. 

“Q1FY27 opened with stronger demand than Q1FY26, despite a more complex macro backdrop marked by West Asia tensions, higher energy and commodity prices, supply-chain disruption and monsoon uncertainty. In this environment, Team Sundaram delivered 17% AUM growth to Rs. 62,275 crores, improved asset quality with net stage 3 assets at 0.88% against 1.08% last year, and 22% year-on-year growth in profit after tax. Our Group companies in asset management, general insurance and home finance continued to report strong results. We remain committed to our time-tested approach of steady, sustainable growth, best-in-class asset quality and consistent profitability,” said Harsha Viji, Executive Vice Chairman.

AUM for Q1FY27 grew 17% to Rs. 62,275 crores. Disbursements for Q1FY27 recorded a growth of 22% over Q1FY26. Gross stage 3 assets as on June 30, 2026, stood at 1.71% with provision cover of 49% as against 1.91% as on June 30, 2025, with provision cover of 44%. Profits from operations performed strongly, growing by 37% in Q1FY27. Profit after tax registered a 22% rise in Q1FY27, with net profit at Rs. 522 crores. Return on assets closed at 3.06% in Q1FY27 as against 2.91% for Q1FY26, and capital adequacy at 18.5% remained quite comfortable.

 Rajiv Lochan, Managing Director, stated, “Q1FY27 has been an encouraging quarter, with Sundaram Financedelivering stronger growth, improved asset quality and resilient profitability. The operating environment is turning more supportive for growth, even as key external monitorables such as geopolitical uncertainty and monsoon shortfalls remain. With our strong franchise, disciplined execution and customer-focused approach, Team Sundaram is well-positioned to deepen its presence and gain market share across the businesses in which we operate.”

 STANDALONE PERFORMANCE HIGHLIGHTS FOR Q1FY27 

·       Disbursements for Q1FY27 grew by 22% to Rs. 8,947 crores as compared to Rs. 7,310 crores registered in Q1FY26.

·       The assets under management grew by 17% to Rs. 62,275 crores as on 30^th June 2026 as against Rs. 53,278 crores as on 30^th June 2025.

·       Net interest income (NII) grew by 19% to Rs. 925 crores in Q1FY27 from Rs. 781 crores in Q1FY26.

·       Gross stage 3 assets as on 30^th June 2026 stood at 1.71% with 49% provision cover as against 1.91% with provision cover of 44% as on 30^th June 2025. Net stage 3 assets as on 30^th June 2026 closed at 0.88% as against 1.08% as on 30^th June 2025.

·       The Gross and Net NPA, as per RBI’s asset classification norms for NBFCs, are 2.28% and 1.35% respectively as against 2.66% and 1.71% as of 30^th June 2025.

·       Cost to income ratio was at 30.70% in Q1FY27 as against 29.84% in Q1FY26.

·       Profits from operations grew 37% to Rs. 598 crores in Q1FY27 as against Rs. 436 crores in Q1FY26.

·       Profit after tax registered a growth of 22% rise in Q1FY27, with net profit at Rs. 522 crores as against Rs. 429 crores in Q1FY26.

·       Return on assets (ROA) for Q1FY27 closed at 3.06% as against 2.91% for Q1FY26. Return on equity (ROE) was at 17.69% for Q1FY27 as against 16.70% for Q1FY26.

·       Capital Adequacy Ratio stood at 18.5% (Tier I –16.9%) as of 30th June 2026 compared to 20.0% (Tier I – 17.3%) as of 30th Jun 2025. 

 CONSOLIDATED PERFORMANCE HIGHLIGHTS FOR Q1FY27 

The consolidated results of SFL include the results of its standalone subsidiaries Sundaram Home Finance, Sundaram Asset Management and joint venture company Royal Sundaram General Insurance.

·       The assets under management (AUM) in our lending and general insurance businesses stood at Rs. 92,887 crores as on 30^th June 2026 as against Rs. 80,939 crores as on 30^th June 2025, a growth of 15%. The assets under management of our asset management business stood at Rs. 90,089 crores as on 30^th June 2026 as against Rs. 80,501 crores as on 30^th June 2025.

·       Profit after tax for Q1FY27 grew by 34% to Rs. 636 crores as compared to Rs. 475 crores in Q1FY26.

GROUP COMPANY PERFORMANCE HIGHLIGHTS

Our group companies continued to perform well.

The asset management business closed the quarter ended 30^th June 2026 with assets under management of Rs. 90,089 crores (around 80% in equity) and consolidated profits from the asset management businesses were at Rs. 51 crores as against Rs. 45 crores in Q1FY26.

Royal Sundaram reported a Gross Written Premium (GWP) of Rs. 1,380 crores as compared to Rs. 1,289 crores in the previous year, representing a growth of 7%. The company reported a profit after tax of Rs. 135 crores for Q1FY27 as against a profit of Rs. 127 crores in Q1FY26. 

Sundaram Home Finance disbursements grew by 10% to Rs. 1,643 crores in Q1FY27. The profit for Q1FY27 was Rs. 85 crores, as against Rs. 62 crores in Q1FY26. Gross stage 3 assets as on 30^th June 2026 stood at 1.42% as against 1.63% as on 30^th June 2025. Net stage 3 assets as on 30^th June 2026 closed at 0.69% as against 0.96% as on 30^th June 2025. The Gross and Net NPA, as per RBI’s asset classification norms, are 1.50% and 0.75% respectively as against 1.94% and 1.20% as of 30^th June 2025.

Yatra Marks 20 Years of Transforming Travel in India with Milestone Anniversary Film

Aug 03: Yatra Online Limited (“Yatra“), India‘s largest corporate travel services provider and one of the country’s leading online travel companies, today unveiled a milestone film celebrating 20 years of innovation, growth and transformation. The film traces Yatra‘s journey alongside the evolution of India‘s travel landscape, from the early days of online booking to the AI-led travel experiences of today.

Since its founding in 2006, Yatra has introduced a series of technology-led innovations for Indian travellers, including SMS-based bookings in 2007, cash-on-delivery payments in 2010, and the low-bandwidth “Yatra Mini” application in 2016. In 2024, Yatra built India‘s largest corporate travel platform and introduced voice search, culminating in the launch of its Gen-AI assistant, RECAP.

As per Yatra‘s Annual Report for FY 2024-25, Yatra recorded 106 million visits, a 97.3% booking success rate, and a network of approximately 80,000 hotels and homestays across approximately 1,497 Indian cities. 59% of Yatra‘s business in FY 2024-25 was derived from repeat customers, and 81% of Yatra‘s traffic was direct or organic. These metrics reflect the brand equity Yatra has built over the last two decades.

The anniversary film brings these milestones together through a visual narrative reflecting the people, partnerships and purpose behind Yatra‘s journey.

Commenting on the milestone, Dhruv Shringi, Co-founder & Chairman, Yatra Online Limited, said: “Twenty years ago, we set out with a simple belief that technology could transform the way India travels. Since then, Yatra has grown alongside a new generation of Indian travellers, adapting, innovating, and earning their trust every step of the way. This film celebrates not just our past, but the people who made it possible and the foundation they have helped us build for the future.” 

Siddhartha Gupta, Chief Executive Officer, Yatra Online Limited, said, “This milestone is an opportunity to celebrate the remarkable journey of Yatra and the people who have built it over the years. While this film looks back on our story so far, it also marks the beginning of an exciting new chapter – one that we believe will create even greater opportunities for our customers, employees and partners.” 

As Yatra enters its third decade, Yatra remains focused on technology-led innovation and on strengthening its position in both consumer and corporate travel in India and globally.

Apparel Manufacturers of India to host ADVAIT 8.0 in Chennai

Chennai, Aug 3: Apparel Manufacturers of India, one of India’s prominent and renowned apparel groups of manufacturers and traders, is back with the next edition of ADVAIT. ADVAIT 8.0 will be held in Chennai at RK Convention Centre, from 5th – 7th August, 2026.

The 3-day fair will see participation from more than 220 brands from across India, from key cities like Mumbai, Indore and Surat. ADVAIT continues to act as a confluence where brands across India gain access to the right market opportunities to showcase their collections, and buyers get filtered and verified manufacturers to buy from.

ADVAIT, which in Sanskrit means “one of a kind” or “unique”, was started by Apparel Manufacturers of India  in 2018, with the idea to strengthen the apparel community for better market and business opportunities. Today, AMI continues to growand expand this property by bridging the gap among manufacturers, retailers, and MBOs.

The Indian apparel market is projected to reach USD 117.05 billion by 2034, and South India is a key market within it for value fashion retailers, as they target the untapped market. With an increase in favorable store economics and consumption patterns of consumers in this region, South India complements the value fashion chain and presents significant growth opportunities. 

As the festive season sets in India, consumer sentiments change and demand for affordable clothing increases. ADVAIT 8.0 will showcase the upcoming festive collection from across brands. The trade fair continues to see high participation from retailers and MBO’s from South India as well as key international markets.

Speaking on the upcoming ADVAIT 8.0, Dharmesh Nandu, Founder of Apparel Manufacturers of India, said

“We are delighted to announce the next edition of ADVAIT and are extremely excited. As the festive season approaches, this time we will be showcasing a lot of festive collections and latest trends to the buyers. South India’s evolving retail footprint, catalyzed by the rapid opening of major large format stores, presents exceptional growth opportunities This region holds great potential we look forward to catering this in the right manner.”

The event will be spread across the entire center of 1 lac sq. ft, providing brands ample stall space for display. Till date, AMI has held more than 50+ zonal and regional fairs across Southern India.

IMC Ladies’ Wing Women Entrepreneurs’ Exhibition – 60 Years of Empowering Women and 39 Years of Building an Ecosystem Where Entrepreneurs Thrive

Aug 3: For six decades, the IMC Ladies’ Wing has been at the forefront of empowering women, nurturing entrepreneurship, and creating platforms that enable women to transform their aspirations into successful enterprises. 

As the IMC Ladies’ Wing celebrates its Diamond Jubilee year, it proudly presents the 39th edition of the IMC Ladies’ Wing Women Entrepreneurs’ Exhibition 2026, to be held on 25th and 26th August 2026 at the Jio World Convention Centre, Mumbai.

Over the last 39 years, the Women Entrepreneurs’ Exhibition has grown into one of India’s most prestigious and sought-after platforms for women-led businesses. More than an exhibition, it is a vibrant ecosystem where ideas take shape, collaborations are forged, and women entrepreneurs are empowered to flourish.

This year’s theme for the exhibition, “Bees and the Hive,” beautifully captures the spirit of the IMC Ladies’ Wing’s journey.

One bee begins the journey. Together, they build a hive where extraordinary things happen.

A single bee may start the journey, but it is the collective strength of the hive that creates something remarkable. Every bee contributes its unique abilities to build a thriving and resilient community. In much the same way, every woman entrepreneur brings her own vision, creativity, and determination to a larger ecosystem of enterprise.

The hive symbolizes the very essence of the IMC Ladies’ Wing—a community where women come together to support, mentor, collaborate, and inspire one another. It is a celebration of the belief that success is never achieved alone; it is built through partnerships, shared experiences, and the extraordinary power of women uplifting women.

This philosophy resonates deeply with the Presidential theme for the year, “Multiplying Impact.” Women have always been natural multipliers of knowledge, connections, and influence. When women come together, conversations rarely remain transactional; they become meaningful exchanges of lived experiences, perspectives, challenges, and solutions. A single story shared by one woman can spark confidence, ignite new ideas, or transform the journey of another, creating a ripple effect that reaches far beyond the individual.

“Multiplying Impact” celebrates this unique ability of women to amplify value through meaningful connections. It recognizes women as catalysts for transformation—within families, businesses, communities, and society. It reframes women’s influence as exponential rather than incremental, acknowledging that every empowered woman has the potential to empower many others and create lasting change across generations.

“Together, ‘Bees and the Hive’ and ‘Multiplying Impact’ represent the spirit of the IMC Ladies’ Wing. Just as every bee strengthens the hive, every woman entrepreneur strengthens our ecosystem through collaboration, mentorship, innovation, and shared success. When women come together, they do not merely build businesses—they multiply opportunities, knowledge, confidence, and ultimately, multiply impact.”

This year’s Exhibition promises to be our most vibrant edition yet, bringing together over 300 women entrepreneurs from across India, showcasing a carefully curated blend of fashion, lifestyle, artisanal crafts, home décor, gourmet delights, wellness products, and innovative brands that celebrate both heritage and contemporary design.”– Ms. Anita Chouhan, President, IMC Ladies’ Wing

“Further strengthening our commitment to nurturing talent and innovation, the IMC Ladies’ Wing is proud to collaborate with the Fashion Design Council of India to facilitate participation from eligible women members and students, creating opportunities for emerging entrepreneurs and designers to showcase their creativity while connecting with the industry.

The Exhibition has always been about creating impact beyond business. In keeping with this philosophy, the IMC Ladies’ Wing continues to support NGOs and social enterprises by providing complimentary stalls, giving them a valuable platform to showcase their products, initiatives, and causes. This initiative reflects our belief that entrepreneurship must be inclusive and that empowering communities goes hand in hand with building successful enterprises.” – Ms. Pallavi Sahney Sharma, Chairperson, WE Exhibition 2026 Committee

“Entrepreneurship has the power to shape not just economies, but the future we leave behind. At the heart of this year’s Exhibition is a commitment to sustainability, conscious innovation, and responsible business. From vegan and eco-conscious brands to eco-printed textiles and environmentally responsible products, we are celebrating entrepreneurs who are proving that purpose and profitability can go hand in hand. The Exhibition itself reflects these values through the use of green energy, responsible waste management, recycling initiatives, and efforts to offset our carbon footprint. We hope every visitor leaves inspired by the belief that meaningful change begins with the choices we make every day.”– Ms. Juveca Panda Chheda, Co-Chairperson, WE Exhibition 2026 Committee

As the IMC Ladies’ Wing celebrates 60 years of empowering women and 39 years of building an entrepreneurial ecosystem, the Women Entrepreneurs’ Exhibition stands as a testament to the transformative power of community. It is a tribute to every woman who dared to begin, to every entrepreneur who persevered, and to every dream that found wings through the support of the hive.

Because when women come together with purpose and passion, they do more than build businesses. They build communities, create opportunities, and shape a future where extraordinary things happen.