14, Aug 2024
Your gateway to Himachal’s wonders: Club Mahindra Kandaghat Resort

New Delhi, August 14, 2024: En route to the renowned hill towns of Shimla and Chail in northern India lies the quaint and picturesque town of Kandaghat. Surrounded by majestic snow-capped mountain peaks, Kandaghat is an ideal destination for those seeking rejuvenation through leisurely walks amidst lush, green pastures. Nestled in this charming hill station of Himachal Pradesh, the Club Mahindra Kandaghat Resort offers an exquisite blend of natural beauty and modern comfort. The resort is conveniently accessible by road from Kalka, Chandigarh, and Delhi, with the nearest airports located in Shimla and Chandigarh. The best times to visit are from March to May and October to mid-December, while January provides a magical opportunity to experience snowfall.

club mahindra

Club Mahindra Kandaghat boasts 72 rooms, including studio, hotel units, and one-bedroom apartments. Guests can savor a variety of dining experiences at the resort’s Barbeque Bay, which offers stunning 360-degree mountain views and a grand fountain on the resort’s lawn. The Galaxy Bar and Blossom – multiple cuisine restaurants provide a diverse culinary experience, featuring traditional Himachali Thali alongside Western, Chinese, and Continental dishes. For a more intimate experience, candlelight dinners can be arranged upon special request. Additionally, the resort offers evening counter setups on select days, where guests can indulge in delicious specialties like Siddu, dim sums, and shawarma.

The resort offers a wide range of activities for guests to enjoy. Evening concerts featuring regional dances such as Nati and live music offer delightful entertainment. Guests can also partake in yoga sessions and various sports activities within the resort. For indoor fun, the resort’s Happy Hub includes art and craft activities, board games, arcade games, virtual games, karaoke, and training sessions on engaging activities like hocus-pocus science and painting pinecones. Outdoor enthusiasts can enjoy nature walks, village tours, river trails, and family picnics. For those seeking adventure, trekking to Karol Tibba in Kandaghat is a must. This trek leads to the oldest and longest cave in the Indian Himalayas, promising an enjoyable and memorable experience. Additionally, the resort features a spa offering Western therapies, perfect for relaxation after a day of exploration.

The resort’s prime location provides easy access to numerous attractions around Shimla, such as Apple Orchards, Mohan Shakti National Heritage Park, hot water springs at Tattapani, Rashtrapati Niwas, and Jakhoo Hills Temple. With breathtaking views of the surrounding hills and lush forests, the resort offers a serene retreat from the hustle and bustle of everyday life.

Featuring premium amenities and services, including elegant rooms, a rejuvenating spa, and diverse dining options, Club Mahindra Kandaghat Resort ensures a comfortable and luxurious stay for all guests. For a truly memorable vacation, book your stay at Club Mahindra Kandaghat Resort and immerse yourself in the natural beauty of Himachal Pradesh.

14, Aug 2024
Auto Industry Performance of July-2024

Mumbai, 14 August 2024:

Monthly Performance: July 2024

 Production: The total production of Passenger Vehicles1, Three Wheelers, Two Wheelers, and Quadricycle in July 2024 was 24,37,138 units

Domestic Sales:

  • Passenger Vehicles2 sales were 3,41,510 units in July 2024.
  • Three-wheeler sales were 59,073 units in July 2024
  • Two-wheeler sales were 14,41,694 units in July 2024.

Commenting on sales data of July 2024, Mr Vinod Aggarwal, President, SIAM said, ““Though Three-Wheeler and Two-Wheeler segments are performing well, there has been some de- growth of Passenger Vehicles and Commercial Vehicles in July 2024, compared to July 2023. The above average rainfall coupled with upcoming festive season is likely to again propel growth in the short term. In addition, enabling budget announcements which emphasizes on overall economic growth with fiscal support for infrastructure and rural sector should augur well for the Auto sector in the medium term.”

Commenting on July-2024 performance, Mr Rajesh Menon, Director General, SIAM said, “In July 2024, Passenger vehicle segment de-grew by (-)2.5% compared to July 2023, posting a sales of about 3.42 lakh units. Three Wheelers posted a growth of 5.1% compared to July last year, with sales of 0.59 Lakh units in July 2024, which is close to the peak of 2018-19. Two- Wheeler segment also posted a decent growth of 12.5% in July 2024 as compared to July 2023, with sales of 14.42 Lakh units”.

Domestic sales :Monthly

Category Domestic Sales (In Nos.)
Segment/Subsegment July
2023 2024 % Change
       
Total Passenger Vehicles3 3,50,355 3,41,510 -2.5%
       
Three Wheelers      
Passenger Carrier 44,481 48,331 8.7%
Goods Carrier 8,836 8,312 -5.9%
E-Rickshaw 2,745 2,253 -17.9%
E-Cart 142 177 24.6%
Total Three Wheelers 56,204 59,073 5.1%
Two Wheelers      
Scooters 4,28,640 5,53,642 29.2%
Motorcycles 8,17,206 8,50,489 4.1%
Mopeds 36,208 37,563 3.7%
Total Two Wheelers 12,82,054 14,41,694 12.5%
Quadricycle 118 19 -83.9%

 

14, Aug 2024
Radisson Blu MBD Hotel Noida’s ‘Made In India’ Wins Big at Travel + Leisure Delicious Dining Awards 2024

National, India, 14.08.2024: Radisson Blu MBD Hotel Noida is thrilled to announce that its acclaimed restaurant, ‘Made In India’, has been honored with the prestigious title of “Best Contemporary Indian Restaurant” at the prestigious 5th edition of the T+L Delicious Dining Awards 2024. This accolade underscores the restaurant’s commitment to offering an exceptional dining experience that redefines modern Indian cuisine. Travel + Leisure recently celebrated the fifth annual Delicious Dining Awards at a gala evening at Le Méridien New Delhi. This year’s edition, aptly themed “Food Is Art,” celebrated culinary creativity, making Made in India’s win even more significant.

radisson

Made in India at Radisson Blu MBD Hotel Noida, reimagines traditional Indian dishes with a modern twist. Here, classic recipes are elevated with innovative techniques and presented in a stylish, contemporary way.

Ms. Monica Malhotra Kandhari, Managing Director of MBD Group, added, “Winning the T+L Delicious Dining Award for Best Contemporary Indian Restaurant is a significant achievement for us. It reflects our commitment to excellence and our passion for celebrating India’s rich culinary heritage through a contemporary lens. I congratulate the team on this esteemed honor.”

Ms. Sonica Malhotra Kandhari, Joint Managing Director of MBD Group expressed her excitement about the award, stating, “We are incredibly proud to receive this recognition for Made In India. This award is a testament to the hard work and dedication of our talented culinary team, who continually strive to create innovative and memorable dining experiences. Our vision has always been to blend tradition with modernity, and this award validates that we are on the right path. Congratulations to the entire team”

14, Aug 2024
Discover the Power of Two with Philips’ latest Dual Basket Air Fryer featuring Rapid Air Technology

India, 14 August 2024: Versuni India, a leader in the domestic appliances industry and home to legacy brands Philips Domestic Appliances and Preethi, has launched its latest innovation: the Philips Dual Basket Air Fryer – 3000 Series. As the first to introduce air fryers to the Indian market in 2010, Philips has consistently led with cutting-edge innovations that transform everyday consumer experiences. Aligned with its commitment to creating consumer-inspired innovations, the new Philips Dual Basket Air Fryer – 3000 Series emerges as the ultimate cooking companion with two baskets of different sizes, designed to help cook a full family meal. This latest innovation underscores the brands commitment to making healthy cooking accessible and convenient. Featuring Philips’ patented starfish design, rapid air technology, and new advanced features, the new air fryer ensures perfectly cooked, flavorful dishes every time. This empowers consumers to embrace a healthier lifestyle without compromising on taste or convenience.

AF 3

In today’s fast-paced world, where healthy eating is a priority for individuals and families alike, the new air fryer stands out with its ability to prepare nutritious and flavorful meals swiftly. Its innovative design allows users to cook larger quantities of food in one session, catering perfectly to busy households. With the launch of the Dual Basket Air Fryer – 3000 Series, Philips reaffirms its position at the forefront of enhancing everyday life through intuitive, state-of-the-art products.

Commenting on the launch, Pooja Baid, Chief Marketing Officer of Versuni India, said, “In 2010, when we introduced air fryers in India, we recognized the burgeoning interest in healthier eating habits. Over the past 14 years, we’ve witnessed a significant shift toward adopting healthier lifestyles, particularly after 2020. Amidst this trend, convenience remains pivotal in today’s fast-paced digital landscape. Understanding these consumer needs and pain points, we’ve developed a single product solution that addresses diverse requirements.

Whether it’s cooking larger portions or preparing multiple dishes simultaneously, our latest Dual Basket Air Fryer is designed to enhance everyday convenience and comfort for consumers. At Versuni, our commitment to understanding and meeting evolving consumer needs is unwavering. Our newest innovation stands as a testament to this dedication, reflecting our ongoing commitment to enriching the lives of our consumers and helping them turn houses into homes.”

The Philips Dual Basket Air Fryer – 3000 Series is designed to elevate your cooking experience with a range of user-friendly features. It boasts two asymmetrical baskets with a total capacity of 9 liters, allowing you to cook larger portions or two different dishes simultaneously, whether vegetarian and non-vegetarian options or sweet and savory treats. The asymmetrical design helps you better proportion your ingredients, with the large basket perfect for mains, fries, and your favorite dishes, while the smaller basket is ideal for sides, veggies, and snacks.

The Synchronized Cooking Option automatically syncs the cooking time in both baskets, so even if your ingredients require different cooking times, they will finish simultaneously. This feature, along with the TIME function, ensures all ingredients are perfectly cooked together, making the cooking process convenient and hassle-free. Equipped with Philips RapidAir Plus Technology and a patented starfish design, this air fryer ensures excellent air circulation, meaning the food is perfectly cooked every time, without the risk of undercooking or overcooking. With 8 preset settings, consumers can easily prepare a variety of dishes such as French fries, frozen snacks, chicken, veggies, fish, and even cakes – all with just one appliance.

What sets this air fryer apart is its dual basket design, a unique feature in the market. It also connects to the HomeID app, offering access to a range of recipes tailored for quick meals under 30 minutes. Consumers can now enjoy cooking with ultimate ease and convenience, making healthy and delicious meals effortlessly.

14, Aug 2024
Alembic Pharmaceuticals receives USFDA Final Approval for Dabigatran Etexilate Capsules, 110 mg

14th August 2024, Mumbai: Alembic Pharmaceuticals Limited (Alembic) today announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Dabigatran Etexilate Capsules, 110 mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Pradaxa Capsules, 110 mg of Boehringer Ingelheim Pharmaceuticals, Inc. (Boehringer). Dabigatran Etexilate Capsules 110 mg are indicated for prophylaxis of deep vein thrombosis and pulmonary embolism following hip replacement surgery. Refer label for a detailed indication.

Alembic has a cumulative total of 211 ANDA approvals (183 final approvals and 28 tentative approvals) from USFDA.

14, Aug 2024
Accelerate Your Bond: Sibling Fun Awaits at Formula Karting

This Raksha Bandhan, gear up to supercharge your sibling bond with a high-octane adventure! Formula Karting is your ultimate thrill zone, where excitement and speed collide to create unforgettable moments. Get ready to rev your engines and experience heart-pounding fun that will set your sibling spirits racing!

Formula karting

 At Formula Karting, shared experiences, laughter, and adrenaline-pumping thrills create lasting connections. Our karting facilities offer the perfect environment for racing enthusiasts, whether you’re seasoned pros or first-time racers. Our tracks cater to all skill levels, ensuring a fun-filled experience for everyone.

 But the excitement doesn’t stop there! Karting is just the beginning of your adventure. As you hit the track, navigate sharp turns, strategize together, and compete for the best lap times, you’ll find yourself cheering each other on and strengthening your bond through friendly rivalry. This high-speed adventure will only bring you closer together.
Join us at Formula Karting to unleash your competitive side, embrace high-speed thrills, and create cherished memories. This Raksha Bandhan, race, bond, and revel in the excitement of karting with us. An action-packed experience filled with laughter and a dash of competition awaits you!

14, Aug 2024
Manappuram Finance Reports 11.7% Y-o-y Increase in Q1 Net Profit to Rs557 Crore
Valapad (Thrissur): Manappuram Finance Ltd has reported a consolidated net profit of ₹556.5 crore for the first quarter of FY25, reflecting a 11.7% increase compared to ₹498 crore in Q1 FY24. The Non-Banking Financial Company’s (NBFC) consolidated Assets Under Management (AUM) for Q1 reached ₹44,932 crore, marking a 21% increase year-on-year and a 6.8% rise quarter-on-quarter. The standalone net profit for the quarter, excluding subsidiaries, was ₹441 crore. Total consolidated operating income for the quarter was ₹2,488 crore, a 23% increase from the same quarter last year. The company’s consolidated gold loan portfolio saw a 14.8% increase to ₹23,647 crore compared to the first quarter of FY24, with the number of live gold loan customers at 2.6 million as of June 30, 2024.
Sharing the results, Mr. V.P. Nandakumar, MD & CEO, stated, “We were able to achieve significant growth in Gold Loan AUM in this quarter, registering nearly 15% growth year-on-year and 10% sequentially. Our non-gold verticals are also growing, contributing notable gains in AUM and net profit.”
Asirvad Microfinance Ltd concluded the quarter with an AUM of ₹12,310 crore, a 21% growth from ₹10,141 crore in the same period last year, and a net profit of ₹100 crore. Manappuram Home Finance Ltd., the home loans subsidiary, continues its steady growth with an AUM of ₹1,587 crore, up 32% year-on-year and 5.2% quarter-on-quarter. The Vehicles & Equipment Finance division’s AUM reached ₹4,541 crore, showing a significant 63.4 % year-on-year increase.
The company’s non-gold loan businesses now represent 47% of its consolidated AUM. The average borrowing cost for the standalone entity was 9% in Q1 FY24, compared to 8.3% in the year-ago quarter. Gross NPA stood at 1.96%, and Net NPA at 1.7%. As of June 30, 2024, the company’s consolidated net worth was ₹12,021 crore, with a book value per share of ₹142. The standalone capital adequacy ratio was 29.6%. Consolidated total borrowings were ₹38,463 crore, and the total number of live customers reached 6.8 million.
Consolidated
Particulars
Q1 fy 24-25
Q1 fy 23-24
YoY% Growth
Q1 FY 2025
Q4 FY 2024
QoQ% Growth
Income from operations
2488.2
2026.3
22.8%
2488.2
2359.8
5.4%
Profit before tax
752.8
680.8
10.6%
752.8
745.5
1.0%
Profit after tax (Before OCI & minority interest)
556.5
498.0
11.7%
556.5
563.5
-1.2%
AUM
44932.3
37060.6
21.2%
44932.3
42069.6
6.8%
Gold loan AUM
23647.3
20603.2
14.8%
23647.3
21561.1
9.7%
Gold Holding (Tonnes)
60
59.5
0.2%
60
59
1.3%
Total Live gold loan customers (in mn.)
2.6
2.4
7.7%
2.6
2.5
3.6%
Net Worth
12020.7
10078.7
19.3%
12020.7
11548.1
4.1%
Return on Assets (%)
4.5%
5%
4.5%
4.9%
Return on Equity (%)
18.8%
20%
18.8%
19.9%
No. of branches
5294
5281.0
0.2%
5,294
5,286
0.2%
Total no. of employees
49609
45304.3
9.5%
49609
51004
-2.7%
Book value per share
142.0
119.1
19.3%
142.0
136.4
4.1%
Total no. of customers (in mn.)
6.8
6.1
12.5%
6.8
6.8
1.0%
Total borrowing
38463.4
28533.4
34.8%
38463.4
33653.5
14.3%
EPS
6.58
5.9
11.7%
6.58
6.7
-1.2%
Standalone
Particulars
Q1 fy 24-25
Q1 fy 23-24
YoY % Growth
Q1 FY 2025
Q4 FY 2024
QoQ% Growth
Profit After Tax (Before OCI)
440.58
380.91
15.7%
440.6
428.3
2.9%
AUM
31034.7
25742.4
20.6%
31034.7
28679.4
8.2%
Capital Adequacy Ratio (%)
29.6%
30.5%
29.57%
30.6%
Cost of Fund (%)
9.01%
8.26%
9.01%
8.8%
Gross NPA (%)
1.96%
1.45%
1.96%
1.93%
Net NPA (%)
1.70%
1.24%
1.70%
1.70%
Number of Branches
3524
3524
3524
3524
Comm. Vehicle Loans Division AUM
4541.3
2779.2
63.4%
         4,541.3
         4,110.9
10.5%
Subsidiaries
 
 
 
 
 
 
Microfinance – AUM (incl Gold Loan)
12310.2
10140.6
21.4%
       12,310.2
       11,880.5
3.6%
Microfinance – PAT  (Before OCI)
                     100.04
                 111.18
-10.0%
          100.04
101.8
-1.8%
Microfinance – Number of customers (in mn)
3.9
3.4
14.4%
3.9
3.9
-0.9%
Home Loans – AUM
1587.4
1202.6
32.0%
1587.4
1509.7
5.2%
Home Loans – PAT (Before OCI)
                          6.01
                     3.22
86.50%
               6.01
               7.14
-15.9%
14, Aug 2024
Explore a Global Culinary Series of “Micro Cuisines of the World” Every Sunday at The Den, Bengaluru

Bengaluru, 14th August 2024 – The Creek at The Den Bengaluru, renowned for its innovative cuisine and serene ambiance, is thrilled to introduce a special culinary series, “Micro Cuisines of the World,” this August.

August 18th, 2024: Rampuri Khana

Experience Rampuri Khana, the regal cuisine of Rampur, Uttar Pradesh. Created by blending Awadhi and Afghani influences, this brunch features signature dishes like Mirch ka Halwa, Murgh Changezi, and Tar Qorma, crafted by the royal Khansamas. Enjoy a rich feast with flavors steeped in history.

August 25th, 2024: Goan/Konkani Food

The series concludes the last Sunday of August with a vibrant Goan and Konkani feast, highlighting the coastal region’s blend of Portuguese and local Hindu cultural influences. Enjoy a diverse array of dishes, including Vindaloo, Varan, Tondak, Ambott Tik, Balchao, Cafreal, and Sorpotel, featuring traditional recipes from Hindu Saraswat and Goan Catholic kitchens. This brunch promises a mouthwatering experience with a stunning array of seafood and red meats.

Join us to experience global flavors, groove to live music, enjoy a variety of beverages, and let the kids have fun with exciting activities. Every Sunday, we unveil a new culinary flavor just for you! If you miss one Sunday, don’t worry—you’ll have another chance to join us the following week.

14, Aug 2024
Intellect AI aims for USD 100 million by 2029 through their newly launched Purple Fabric

Bengaluru, India – August 14, 2024 – IntellectAI, a business unit of Intellect Design Arena Ltd focusing on cutting-edge Artificial Intelligence technologies, announces the launch of Purple Fabric, a pioneering platform that accelerates enterprise AI adoption for financial institutions (FIs). Leveraging the potential of the First Principles Thinking based Composable and Intelligent Open Finance Platform eMACH.ai, Purple Fabric represents the next step in the evolution of AI, advancing from basic automation to Enterprise Connected Intelligence, enabling FIs to achieve substantial business impact.

fls

The true power of AI lies in enterprise-connected intelligence. Recognizing this, Intellect leveraged its three decades of domain expertise to develop Purple Fabric—a decision-grade AI platform designed to overcome data fragmentation and silos. The platform emphasizes Ethical AI, addressing data biases and ensuring traceability with a comprehensive audit trail.

“Purple Fabric is more than just a platform; it’s a productivity powerhouse that empowers financial institutions to harness AI for real business impact,” said Banesh Prabhu, CEO of IntellectAI. “Our vision is to enable Financial Institutions to seamlessly integrate AI into their operations, achieving new levels of accuracy, speed, and efficiency. With its modular design and advanced AI capabilities, Purple Fabric equips FIs to navigate the complexities of the financial landscape with confidence, paving the way for the future of work through Ethical AI.”

Purple Fabric is a groundbreaking enterprise AI platform that transforms enterprise data into actionable AI insights and solutions. By making data RAG-ready (Retrieval-Augmented Generation) and enabling subject matter experts to quickly build and deploy AI-driven solutions, it creates a knowledge bank from six key sources: structured and unstructured enterprise data, policies, market data, and regulatory information, and tacit knowledge. This foundation allows the AI Expert Agent System to achieve precise, goal-driven outcomes with exceptional accuracy and speed. Additionally, Purple Fabric introduces SWARM (Situational Workflow Automation and Rapid Micromodeling) capabilities, enhancing human efficiency through adaptive and responsive automation workflows.

Purple Fabric offers FIs the opportunity to align their AI ambitions with an honest appraisal of enterprise readiness and adopt a modular transformation design journey. There are six powerful Purple Fabric products. PF Imagine, an ultimate AI solution builder for Product Managers to independently design and implement AI use cases without the need for Data Scientists. The PF Govern empowers organisations to maximize Generative AI’s potential while upholding strict governance standards. It addresses 14 key governance issues and provides detailed references for auditing data sources, verifies data integrity, and enforces user management policies. PF DIMS (Document Intelligent Management System) enables enterprises to create AI-based document intelligence and consume it as an API in various applications. This is achieved through a combination of four high-performance technologies – Document Ingestion, Classification, Extraction, and Trusted Data. PF Expert Agent utilises knowledge from various sources to drive actionable intelligence. It is also for the creation of autonomous user journeys with AI nudges and alerts. At a recent AI Bootcamp, five teams built their own expert agents in just three days. PF Triad embodies seven key regulations established by the European Union by ensuring unbiased decisions and recommendations for key enterprise roles. It has been successfully implemented in wealth advisory, complex investigations, and loss runs, setting a new standard for unbiased decision-making in financial services and PF LLM Benchmark assesses coding tasks, reasoning, and language understanding. It includes anonymous battles between LLMs, multi-turn questioning, common-sense reasoning questions, prompt effectiveness evaluation, leaderboards, and morE

14, Aug 2024
Zamit Empowers Over 59,000 Learners and 1,333 Educators with Innovative E-Learning Solutions

New Delhi, 14th August 2024: Zamit, a leading EdTech platform, continues to revolutionize the educational landscape by empowering over 59,000 students and 1,333 educators through its innovative e-learning solutions with a focus on skill development. Designed to enhance both future-readiness skills in students and teaching excellence among educators, Zamit’s offerings are at the forefront of modern education.

Zamit’s flagship product, the Zamit Quotient (ZQ), is an AI-driven tool that assesses over 60 future-readiness skills across nine dimensions. The ZQ is currently implemented in 209 schools, impacting 1,753 students, and provides a comprehensive measure of a student’s preparedness for the challenges of the 21st century.

Complementing this is the iSKiL (International Skills & Knowledge Integrated Learning) program, which offers a structured curriculum to enhance critical skills, ensuring that students are not just academically proficient, but also equipped for real-world success. The iSKiL program has enrolled 300 teachers and is making a significant impact in their classrooms.

For educators, Zamit introduces the TERM (Teaching Excellence and Relevance Management) program. This cutting-edge tool uses AI-enabled analysis to assess and enhance teaching skills, providing educators with insights to refine their methods and ensure that their teaching is aligned with the demands of contemporary education. TERM is currently active in 64 schools, benefiting 1,028 teachers. In addition to these programs, Zamit has conducted 15 Continuing Professional Development (CPD) sessions, engaged 800 teachers and further supported their professional growth. With these innovative solutions, Zamit is helping both students and educators become more effective, dynamic, and responsive to the evolving educational environment.

Abhijeet Mukherjee, CEO of Zamit, shared his views in the following words – “We are proud to be a driving force in the transformation of education. Our goal is not only to equip students with the essential skills they need to thrive in an increasingly complex and dynamic world but also to empower educators with the tools and insights required to foster a nurturing and innovative learning environment. By combining cutting-edge technology with a deep understanding of educational needs, we are creating opportunities for learners to unlock their full potential and for educators to elevate their teaching practices to new heights. The positive impact we’ve seen so far is just the beginning; we are committed to continually advancing our solutions to ensure that every student and educator is fully prepared to meet the challenges of tomorrow.”

Zamit’s commitment to leveraging technology to advance education is clear, as they continue to expand their reach and impact across the educational spectrum. By embracing innovation and continuously evolving their offerings, Zamit is not only addressing the current needs of students and educators but also anticipating the future demands of the education sector.