Kochi emerged as a bright spot in IT hiring, recording a significant 22 per cent year-on-year growth…reports Asian Lite News
Hiring in several sectors like artificial intelligence-machine learning (AI-ML), pharma, and FMCG demonstrated resilience and growth in August, according to a report on Tuesday.
The report by job portal Naukri showed that AI-ML led the sectors in hiring with a robust 14 per cent year-on-year increase, followed by FMCG (+11 per cent), Pharma/Biotech (+9 per cent), Auto (+7 per cent), and Oil & Gas/Power (+5 per cent).
While the job market performed steadily in the first half of the month, a unique clustering of holidays in the latter half led to reduced recruitment activity, causing a pronounced dip in the latter half of August, the report said.
“Hiring in August is a story of two halves. While the first half of the month showed typical patterns, the second half experienced an impact due to extended holidays,” said Dr Pawan Goyal, Chief Business Officer of Naukri.com.
“Still, key sectors like AI-ML, FMCG, and Pharma continue to show robust growth, which gives us reason not to worry about the job market,” he added.
The overall IT sector showed a modest 1 per cent year-on-year growth. Interestingly, IT unicorns bucked the trend with a 5 per cent growth, even as foreign MNCs and Global Capability Centers (GCCs) experienced a correction.
Kochi emerged as a bright spot in IT hiring, recording a significant 22 per cent year-on-year growth. The report further showed that experienced and senior professionals remained in high demand. Hiring for those with 16+ years of experience grew 11 per cent year-on-year and saw positive growth across all cities, while strategic and top management roles surged by 30 per cent. Those in the higher salary brackets also showed resilience, with positions offering 13-20 LPA increasing by 6 per cent and those above 20 LPA growing by 19 per cent.
“These trends indicate a strong market for experienced professionals and high-paying roles, contrasting with overall hiring patterns,” the report said.
With over 600 certified PPE-producing companies, India is well-positioned in a market expected to exceed $92.5 billion by 2025, up from $52.7 billion in 2019…reports Asian Lite News
India’s textile industry is expanding at a rapid pace with the country’s textile exports projected to touch $65 billion by the financial year 2025-26, according to Invest India.
Projections indicate that textiles production in the country for both the domestic and export markets will grow at a compound annual growth rate (CAGR) of 10 per cent to reach the $350 billion mark by 2030, an Invest India report states.
The figure has been estimated with respect to the Indian textile and apparel market size of around $165 billion in 2022, of which the domestic market constitutes $125 billion and exports account for $40 billion.
“PM Modi’s bold fibre-to-fashion vision is guiding the textile industry to become a driving force in the global market while bringing competence and technology to local players,” Invest India said in a post on social media platform X.
India has also emerged as the second-largest manufacturer of personal protective equipment (PPE) globally. Production of PPE had picked up during the devastating COVID-19 epidemic when India emerged as an important exporter to cater to the needs of the world market.
With over 600 certified PPE-producing companies, India is well-positioned in a market expected to exceed $92.5 billion by 2025, up from $52.7 billion in 2019. The textile industry is also a major employment driver, providing direct jobs to 45 million individuals and an additional 100 million in related sectors, the report added.
India is the largest cotton producer (23 per cent) in the world and has the highest area under cotton cultivation (39 per cent of the world area). Cotton plays a major role in sustaining the livelihood of an estimated 6.5 million cotton farmers. As a result, there is ample raw material available for the textile industry.
Several factors contribute to the industry’s growth, including India’s world-class infrastructure, a focus on technical textiles driven by demand from sectors such as automotive, healthcare, and infrastructure, and the availability of raw materials and skilled labour, it said.
The Indian government’s Production Linked Incentive (PLI) Scheme introduced with an allocation of Rs 10,683 crore has given a fillip to the textiles industry in the country. The initiative aims to scale up the production of man-made fibre apparel and fabrics as well as technical textiles.
Under the PLI scheme, 64 applications have been approved, involving a proposed investment of Rs 19,798 crore, with a projected turnover of Rs 1,93,926 crore and anticipated employment for 2,45,362 individuals. The policy has succeeded in attracting robust FDI flows into the textile sector. Investments are planned in Madhya Pradesh, Uttar Pradesh, and Rajasthan.
From April 2000 to March 2024, India attracted $4.47 billion in FDI in textiles, including dyed and printed fabrics.
India is one of the world’s largest producers of textiles and apparel, contributing approximately 2.3 per cent to the country’s GDP, 13 per cent to industrial production, and 12 per cent to exports.
The country holds a 4 per cent share of global textile and apparel trade, reflecting a significant share in the global market.
Last week was active, with markets building on the August 16 surge, where Sensex gained 1,300 points and Nifty 400. While there were no major jumps, the markets edged up, setting the stage for a potential rally next week…reports Asian Lite News
The week gone by had plenty of action and markets built on the super booster dose of August 16, when it registered super gains of over 1,300 points on BSE Sensex and 400 points on Nifty. This week saw no jump but, they built on the head start and inched upwards to set up what could be a flourish in the coming week.
BSE Sensex gained 649.37 points or 0.81 per cent to close at 81,086.21 points while Nifty gained 282 points or 1.15 per cent to close at 24,823.15 points. The broader markets saw BSE 100, BSE 200 and BSE 500 gain 1.26 per cent, 1.31 per cent and 1.53 per cent respectively. BSE Midcap was up 1.96 per cent while BSE Smallcap gained 3.39 per cent. During the week, BSE Sensex gained in four sessions and lost a tad in the opening session of the week, while Nifty gained in all five trading sessions. Markets are within striking distance of all-time highs made on August 1, earlier this month.
The Indian Rupee gained 7 paise or 0.08 per cent to close at Rs 83.89. Dow Jones had a decent showing backed by a superlative effort on Friday, the closing day of the week when it gained 462 points. This helped Dow gain 515.32 points or 1.27 per cent to close at 41,175.08 points. Dow gained on three of the five trading sessions and lost on two.
There is a lot of activity happening in the primary markets. Shares of Saraswati Saree Depot Limited which were issued at Rs 160, listed on Tuesday, August 20, debuted at Rs 200 and closed at an upper circuit of Rs 209.95 on day one. The gains made were Rs 49.95 or 31.21 per cent. By Friday, the share witnessed profit-taking and closed at Rs 180.10, a gain of Rs 20.10 or 12.56 per cent on BSE. On NSE, the share closed lower at Rs 177.95, a gain of Rs 17.95 or 11.21 per cent.
The issue from Interarch Building Products Limited which had opened on August 19, and closed on August 21, received excellent response. The price band was Rs 850-900. The issue consisted of a fresh issue of Rs 200 crore and an offer for sale of 44,47,630 shares. The issue was subscribed 93.81 times overall with the QIB portion subscribed 197.29 times, the HNI portion subscribed 130.93 times and the retail portion subscribed 19.5 times. There were 24.42 lakh applications in all.
The second issue to tap the capital markets was Orient Technologies Limited which opened its issue on August 21 and closed on August 23. The issue consists of a fresh issue of Rs 120 crore and an offer for sale of 46 lakh shares, in a price band of Rs 195-206.
The company is an information technology (IT) solutions provider headquartered in Mumbai. The company reported revenues of Rs 602.89 crore for the year ended on March 24 with an EBITDA margin of 9.39 per cent and a PAT margin of 6.87 per cent. Their EPS for the year was 11.80 and the PE band was 16.53-17.46. The company has entered the promising and lucrative business of cyber security which is a crucial and fast-growing area and also enjoying higher margins. The issue was subscribed 154.87 times overall with the QIB portion subscribed 188.79 times, the HNI portion subscribed 310.07 times and the retail portion subscribed 68.98 times. There were 29.26 lakh applications.
With a larger number of participants making money in the markets, the system is flush with liquidity, and one therefore is witnessing huge subscriptions in the primary markets and entire selling of FPIs being absorbed in the market as well. While quarter one results were overall poor, witnessing the lowest growth in eight quarters, there has been no impact on markets whatsoever. While this is a cause of concern, the market mood and sentiment are not only positive but extremely buoyant.
There are two issues opening and closing in the week ahead. The first is from Premier Energies Limited which is opening on Tuesday, August 27, and closing on Thursday, August 29. The issue consists of a fresh issue of Rs 1,291.4 crore and an offer for sale of 3.42 crore shares in a price band of Rs 427-450.
The company is an integrated solar cell and solar module manufacturer with 29 years of experience. The company makes PV (photovoltaic) cells and also manufactures solar modules. The company reported revenues of Rs 3,143.79 crore for the year ended on March 24 and a profit after tax of Rs 231.36 crore. In the first quarter of the current year, it reported revenues of Rs 1,657.36 crore and a profit after tax of Rs 196.16 crore. The EPS for the year ended on March 24 was Rs 6.93 while on a fully diluted basis, it was Rs 5.48. The PE ratio on this EPS is 77.92-82.12. If one looks at the EPS earned by the company in the first quarter after new capacities were added towards the end of the financial year 2024, the same has improved significantly to Rs 5.93 and on a fully diluted basis to Rs 4.70. This is significantly higher than the previous full year’s EPS of Rs 5.48.
The company is expanding its capacity with its own money as well as the objects of the issue also include expansion. This looks like a good opportunity to participate in a large capacity solar company which is an integrated player and has size and scale besides the experience. One should invest for the medium to long term in the company.
The second company to tap the markets is ECOS (India) Mobility and Hospitality Limited. The company is offering 1.8 crore shares through an offer for sale in a price band of Rs 318-334. The issue opens on August 28 and closes on August 30.
The company offers chauffeur-driven mobility providers to corporates in India. The company reported revenues of Rs 554.41 crore for the year ended on March 24 and a profit after tax of Rs 62.53 crore. The EPS for the year was Rs 10.42 and the PE band is 30.52-32.05 times. The growth of the company over the last three years has been phenomenal and one wonders whether this growth is sustainable or not.
Besides the IPOs, PE investors are raising money through secondary markets and every week we witness a number of transactions where shares are sold through bulk deals. Everything on offer gets mopped up and there is no dearth of demand.
Coming to the markets in the week ahead which has August futures expiring on Thursday, August 29, markets would be volatile and choppy. The present value of the August series is higher by 417.05 points or 1.71 per cent at 24,823.15 points. The lifetime highs on an intraday basis and closing basis were made on August 1. These levels were at 25,078.30 points and 25,010.90 points on Nifty, and 82,129.49 points and 81,867.55 points on BSE Sensex. We have closed at 81,086.21 points and 24,823.15 points on BSE Ssensex and Nifty respectively, implying that we are a mere 1,050 points away on BSE Ssensex and just under 200 points on Nifty. This week appears to be the best time to make yet another attempt at creating new highs and going even higher.
So previous tops become immediate objectives and markets have the follow-through momentum post the Jackson Hole event in the US and a sharp 462-point rally on Friday. On the support side, levels of 24,500 around and 80,000 points are decent supports and should hold. The week ahead has two listings as well besides a spate of roadshows and issues opening and closing. With liquidity bursting at the seams and no dearth of the same, the setting is all in place for an imploding week at the markets.
In conclusion, trade cautiously as the possibility of posting a new high, and markets again correct as they did post August 1.
(Arun Kejriwal is the founder of Kejriwal Research and Investment Services. The views expressed are personal)
Keeping your winter garments healthy and germ-free
Every month, readymade garments worth around $3.5-3.8 billion are exported from Bangladesh, compared to about $1.3-1.5 billion worth of readymade garments exported from India…reports Asian Lite News
With trade and industry in Bangladesh getting hugely affected by the political turmoil in the neighbouring country following the resignation of Sheikh Hasina as the Prime Minister on Monday, the readymade exporters in Rajasthan are expecting a 20 per cent increase in Christmas orders for readymade garments.
The reason is that international garment buyers have started contacting Indian exporters amid the tense situation in Bangladesh, bringing a ray of hope for the garment exporters of the desert state to boost their business.
Every month, readymade garments worth around $3.5-3.8 billion are exported from Bangladesh, compared to about $1.3-1.5 billion worth of readymade garments exported from India.
Exporters in Rajasthan said their Bangladesh counterparts are facing a challenge to finish their orders for Christmas coming from the US and European countries.
More than 5,000 factories in Dhaka and surrounding areas manufacture garments, which include shirts, T-shirts, trousers, and skirts.
“If the instability in Bangladesh persists for a long time, 10-20 per cent of the orders may again shift to Rajasthan during Christmas,” said Zakir Hussain, President, Garment Exporters Association of Rajasthan.
“When I went to Japan recently, I was told that if the situation in Bangladesh does not improve, we will look for other options. This is how things work. So, there can be a big chance for us. When a foreign buyer comes to India, we will also get an opportunity,” said Mahaveer Taylor, a dealer in readymade garments.
Other industry players said that multinational companies like Puma, Gap, and others place orders for readymade garments with Bangladesh, but due to the political crisis there, the possibility of India’s garment industry benefiting this season has increased.
In such a situation, if the situation in Bangladesh does not improve soon, the buyers from Western countries can turn to India.
Keeping your winter garments healthy and germ-free
In the global RMG trade ($550 billion in 2023), Bangladesh occupied the second position with around 8.5 per cent market share…reports Asian Lite News
If the political unrest prolong in Bangladesh, nearly 10 per cent of the neighbouring country’s readymade garment (RMG) export orders could shift, presenting a $200-250 million monthly export opportunity for India’s RMG sector in the near term and $300-350 million in the medium term, a report said on Thursday.
India has enough headroom to increase RMG exports by 20-25 per cent given the available capacities in the sector, according to a CareEdge Ratings report.
“In case of sustenance of the socio-political disturbance for more than one or two quarters, Bangladesh exporters would face difficulty in ensuring on-time delivery to its customers. In such a situation, India is expected to gain monthly export orders of $200-250 million in the near term,” said Akshay Morbiya, Assistant Director at CareEdge Ratings.
As global RMG brands and retailers are relatively stickier with their sourcing partners, a large part of this market share loss could be permanent and lead to a gain in monthly export orders of around $300-350 million in the medium term,” Morbiya mentioned.
In the global RMG trade ($550 billion in 2023), Bangladesh occupied the second position with around 8.5 per cent market share.
Bangladesh’s share in global RMG trade has consistently increased, largely at the expense of China. Meanwhile, India remains at the seventh spot in terms of global RMG trade with a market share of around 3-4 per cent.
According to the report, countries such as Bangladesh and Vietnam captured a large part of China’s declining share in the global RMG exports in the past.
“Recent political upheavals and social unrest in Bangladesh, which is the second largest exporter of RMG after China, present an opportunity for the Indian RMG sector,” the report mentioned.
In FY24, Bangladesh’s RMG exports were around 3.2 times of Indian RMG exports. However, during the April-June quarter of FY25, this ratio narrowed down to around 2.5 times, “reflecting India eating into the share of Bangladesh”.
“Apart from the impact of socio-political upheavals in Bangladesh, this was also aided by various initiatives to enhance the competitiveness of Indian RMG exports,” the report findings showed.
“With the China+1 sourcing strategy already in the works, global RMG brands and retailers have limited alternatives such as India, Vietnam and Cambodia to replace Bangladesh. India is in a prime position to capitalise on the opportunity,” said CareEdge Ratings.
India has its presence across the textile value chain from fibre to garment, unlike Bangladesh which is largely dependent on the import of yarn and fabric.
Furthermore, various government initiatives such as PM Mega Integrated Textile Region and Apparel (PM MITRA) park, Production Linked Incentive (PLI) scheme, and free trade agreements (FTAs) with key export markets, are designed to enhance textile exports.
These factors collectively position India as a strong alternative for global brands seeking reliable garment supplies.
Indian entities with substantial capacities are likely to benefit the most, as they can manage large single orders from global brands.
With the demise of Buddhadeb Bhattacharjee, an ‘industrially-rejuvenated Bengal’ continues to remain an unfulfilled dream…reports Asian Lite News
Veteran Left leader and former West Bengal Chief Minister Buddhadeb Bhattacharjee, who passed away at his Kolkata residence on Thursday morning at 80, was a firm believer of the slogan “Agriculture is our base, and industry is our future”.
The veteran CPM leader was unwell for a while, suffering from respiratory problems that led to frequent hospitalisations. He was put on life support last year after he contracted pneumonia. He is survived by his wife Meera and daughter Suchetana.
An alumnus of Presidency College, Bhattacharjee was a school teacher before he joined politics full-time. After serving as an MLA and a state minister, he was elevated to the post of Deputy Chief Minister before Jyoti Basu stepped down as the Chief Minister in 2000. As the Chief Minister, Bhattacharjee led the Left Front to Assembly poll victories in 2001 and 2006.
Even during the closing years of the Left Front regime in West Bengal, when the entire state was rocked by a movement against land acquisition for industry, Bhattacharjee maintained that without industrial development, the long-term welfare of the workers could not be achieved.
And there lies the irony.
Sailing over a wave of slogans for industrialisation, the CPI(M)-led Left Front retained power in Bengal for a record seventh consecutive term in 2006 with a brute majority, winning 235 seats in the 294-member West Bengal Assembly.
Buoyed by the landslide victory, Bhattacharjee went about his task of fulfilling the industrialisation dream.
On the day of his swearing-in ceremony that year, Tata Group Chairman Ratan Tata announced to set up a Tata Motors small car factory at Singur in Hooghly district.
Proposals for WIPRO’s second unit and Infosys’ first unit on the outskirts of Kolkata followed, and both these I-T giants were allotted 50 acres of land each.
Next came the proposal from Indonesia-based Salim Group for setting up a chemical hub at Nandigram in the East Midnapore district.
However, amid all these, discontent was growing among the farmers in both Singur and Nandigram over the proposed land acquisition by the state government for the industrial projects.
Trinamool Congress, the principal opposition party of the time, and its leader Mamata Banerjee did not make any mistake in sensing that the farmers’ unrest could be the turning point in bringing down the Left Front government after three decades of rule.
The rest is history.
In Singur, the Trinamool led the agitations for days by blocking the National Highway in front of Tata Motors’ Nano small car project site.
The Trinamool also launched agitations against fresh government approval for a Special Economic Zone (SEZ) which posed uncertainty for the proposed projects of WIPRO and Infosys.
Amid all these, Bhattacharjee did not hesitate to walk against his party line and stick to his industrialisation goal. He even said that unfortunately, he belonged to a party which still believed in ‘strikes and lockouts’.
“Thousands of talented youths are passing out college every year with dreams in their eyes. Unfortunately, they have to travel to far-off places in search of jobs. We will have to stop this brain-drain at any cost and for that purpose, we need large-scale investments both in the manufacturing as well as the services sector,” he told mediapersons frequently at the Writers’ Buildings, which used to be the state secretariat then.
However, as the agitations in Singur and Nandigram grew in scale posing a serious threat to the state government, the latter was forced to scrap the project in Nandigram, before Ratan Tata announced the Group’s decision to pull out from Singur in October 2008.
“I think some time back I mentioned that if somebody puts a gun to my head, you will pull the trigger or you take the gun away because I will not move my head. I think Ms (Mamata) Banerjee has pulled the trigger,” Ratan Tata famously said that day.
Since then, mediapersons covering the events and the Chief Minister closely noticed Bhattacharjee getting into a shell, as his daily interactions with reporters started to become less frequent.
He isolated himself from the outer world further after the 2011 Assembly polls, which not only marked the end of the 34-year Left Front rule, but also his defeat from the Jadavpur Assembly constituency, a seat he held for five consecutive terms, at the hands of Trinamool’s Manish Gupta.
Now with his demise, an ‘industrially-rejuvenated Bengal’ continues to remain an unfulfilled dream.
In 2023, Fusebox reported Rs 87.5 crore in revenue. In 2024, the gaming company has demonstrated strong growth with year-to-date (YTD) revenues (January-July) at Rs 116.6 crore…reports Asian Lite News
Gaming and sports media company Nazara Technologies on Thursday said it has acquired Fusebox Games, a UK-based gaming studio, for Rs 228 crore ($27.2 million) in an all-cash deal.
Fusebox offers a successful interactive story game ‘Love Island’ and is developing new games based on popular global TV Intellectual properties (IPs).
“We see a large opportunity in building an IP based global gaming business that benefits from our core base in India where we can support global studios through enhanced user acquisition strategies, data analytics, live operations and new initiatives such as implementing our in-house AI playbook,” said Nitish Mittersain, Founder and CEO of Nazara.
In 2023, Fusebox reported Rs 87.5 crore in revenue. In 2024, the gaming company has demonstrated strong growth with year-to-date (YTD) revenues (January-July) at Rs 116.6 crore.
The UK-based company operates IP-driven interactive story games that are monetised through in-app purchases, which accounted for 92 per cent of the total revenues in July.
The games developed by Fusebox primarily target developed markets including the US, the UK, Australia and Canada, Switzerland, Sweden, Denmark, Norway and New Zealand, among others.
The company has 30 employees primary based in the UK. “We are happy to join forces with the talented team at Fusebox as we continue to build Nazara into a global gaming company of meaningful scale,” Mittersain added.
Last month, Nazara announced the acquisition of additional 48.42 per cent stake in Paper Boat Apps (PBA) for Rs 300 crore. Nazara, which owns NODWIN Gaming, Sportskeeda and Pro Football Network, said that it acquired the stake from promoters Anupam and Anshu Dhanuka, to be paid in cash in tranches to take its ownership in PBA to 100 per cent.
Paper Boat Apps is the developer and publisher of gamified learning app ‘Kiddopia’. Paper Boat Apps posted a consolidated revenue of crore and an EBITDA of Rs 56.1 crore in FY24, with a net cash balance of Rs 155.74 crore (as of March 2024).
Heavy rains, low consumer sentiment, and intense competition posed challenges but dealers managed to sustain sales through strong promotions and incremental discounts…reports Asian Lite News
Retail sales of passenger vehicles in India, including cars and SUVs, posted a 10 per cent jump to 3,20,129 vehicles in July this year compared to 2,90,564 in the same month last year, driven by new model launches and higher discounts, according to the Federation of Automobile Dealers Associations (FADA).
“Dealers reported benefits from good product availability, attractive schemes, and a wider range of products,” the Federation of Automobile Dealers Associations (FADA) Vice President C S Vigneshwar said in a statement.
Heavy rains, low consumer sentiment, and intense competition posed challenges but dealers managed to sustain sales through strong promotions and incremental discounts, he added.
However, Vigneshwar also pointed out that the growth is accompanied by high inventory levels which have surged to a historic high of 67-72 days, equivalent to Rs 73,000 crore worth of stock.
“This poses a substantial risk for dealer sustainability, necessitating extreme caution. FADA urges passenger vehicle (PV) original equipment manufacturers (OEMs) to be vigilant about potential dealer failures due to these high inventory levels,” he stated.
Two-wheeler retail sales in July stood at 14,43,463 units, an increase of 17 per cent over 12,31,930 units in July 2023.
The segment experienced robust growth due to a thriving rural economy, the positive effect of a better monsoon, and the government’s support programmes enhancing rural incomes, Vigneshwar observed.
“The introduction of new products and better stock availability also contributed significantly, despite market slowdowns in certain regions, excessive rains, and increased competition,” he added.
Commercial vehicle (CV) retail sales grew 7 per cent year-on-year to 80,057 units last month.
“Positive factors included growth in the construction and mining sectors, while challenges such as continuous rainfall, negative rural market sentiment, poor finance availability, and high vehicle prices were also noted,” Vigneshwar said.
Tractor sales declined 12 per cent year-on-year to 79,970 units in July.
FADA, which collated vehicle registration data from 1,568 out of 1,645 RTOs across the country, noted that the near-term outlook across the auto retail segments shows a blend of optimism and caution.
Two-wheeler sales are expected to be buoyed by factors such as a growing rural economy, positive monsoon impacts and the introduction of new products. The festive season beginning after the Aadi festival and favourable agricultural conditions are also likely to contribute to increased sales.
On the other hand, heavy rainfall and inconsistent monsoon patterns may dampen demand in certain areas. FADA noted that the PV segment could see mixed results in the near term.
High inventory levels pose a significant risk and it is crucial for PV OEMs to avoid further increases in stock to prevent financial strain on dealers, FADA said.
The CV segment faces a modest outlook, with positive factors including improved market reach and the festive season, but challenges such as bad freight rates and ongoing rainfall pose a risk, it added.
Tata Curvv EV Arrives
India’s homegrown automotive company Tata Motors launched its new vehicle Tata Curvv EV in the SUV segment on Wednesday with prices ranging from Rs 17.49 lakh to Rs 21.99 lakh (ex-showroom).
Tata Curvv EV offers two battery pack choices to its customers – 40.5kWh and 55kWh – which provide a range of 502 km and 585 km (ARAI certified, MIDC Part 1), respectively. It can touch 0-100km/h in 8.6 seconds.
The company said its specially designed fast-charging capability ensures a top-up of 150 km range in just 15 minutes.
Tata Curvv EV comes with 3 drive mode combinations as standard (eco, city, and sport), multi-mode regen with paddle shifters, high ground clearance of 190 mm for Curvv.ev 45 and 186 mm for Curvv.ev 55.
Tata Curvv EV comes loaded with features such as 31.24 cm cinematic touchscreen by Harman, 26.03 cm digital cockpit, cinematic experience with arcade.ev and its host of 20+ apps, JBL cinematic sound system, advanced OTA capabilities, V2L and V2V as standard across all personas, smartwatch connectivity and Powered Tailgate with gesture activation.
The vehicle is equipped with automatic headlamps, rain-sensing wipers, fully automatic temperature control with express cooling, coupled with cruise control, keyless entry and push-button start. The Curvv.ev also scores high on convenience as well.
Tata Motors said It will be introducing the product in 2 petrol (The new hyperion gasoline direct injection engine and the 1.2 L revotron petrol turbocharged engine) and 1 diesel option (1.5 L Kryojet diesel engine) – all paired with both a 6-speed manual and a 7-speed dual-clutch automatic transmission.
Wednesday also marks the debut of the indigenously developed first GDi engine offering – the Hyperion Gasoline Direct Injection engine.
The Curvv will be offered in four personas – smart, pure, creative, and accomplished and an enticing colour palette featuring gold essence, daytona grey, pristine white, flame red, pure grey, and opera blue.
India's ongoing rally might get extended, if the market's big bull -- Reliance Industries -- stock started to participate in the up-move, say market watchers.
By 2023-24, Reliance Foundation said it has been able to touch the lives of 76 million people cumulatively across over 55,500 villages of India…reports Asian Lite News
As per Reliance Industries Limited’s annual, the conglomerate maintained its position as India’s largest corporate philanthropy. During the financial year 2023-24, Reliance contributed Rs 1,592 crores as part of various impactful CSR initiatives across the country through its dedicated philanthropy arm Reliance Foundation.
This took its three-year CSR cumulative spend to over Rs 4,000 crore for various corporate social responsibility initiatives (Rs 1,271 crore in FY23, and Rs 1,186 crore in FY22).
Companies in India are expected to set aside a small proportion of their funds to be used for Corporate Social Responsibility – CSR.
Reliance Foundation works across Rural Transformation, Health, Education, Sports, Women Empowerment, Arts Culture and Heritage and Disaster Management.
By 2023-24, Reliance Foundation said it has been able to touch the lives of 76 million people cumulatively across over 55,500 villages of India.
Key highlights of Reliance Foundation’s work include rural transformation: Over 2.6 million people’s lives enhanced with agricultural livelihood enhancement. Over 3.7 million people reached with knowledge and information advisories to transform their lives.
During 2023-24, Reliance Foundation’s healthcare initiatives provided over 710,000 consultations from primary care through Mobile Medical Units across locations, to world-class quaternary care by Sir H. N. Reliance Foundation Hospital and Research Centre one of India’s best hospitals*
The foundation’s work in education encompasses primary, secondary and tertiary education from early childhood education to quality schools, scholarships to higher education and skilling. A state-of-the-art campus with flexible learning spaces for early childhood education, the Nita Mukesh Ambani Junior School was unveiled in Mumbai in 2023.
Reliance Foundation’s women empowerment initiatives strive to support women and girls across India to achieve their full potential from entrepreneurship to social sector leadership.
The joint rural entrepreneurship initiative rolled out in partnership with the Bill & Melinda Gates Foundation to empower over 1 million rural women entrepreneurs across three states of India reached 346,000 women during FY 2023-24.
Reliance Foundation’s vision through its Sports for Development programme is to strengthen the sports ecosystem in India, on the one hand and develop grassroots talent on the other. It also aims to strengthen and contribute to the nation’s Olympic aspiration, putting India on a global sports pedestal.
The International Olympic Committee session held in India after 40 years, is part of India’s growing Olympic vision.
Reliance Foundation launched the Olympic Values Education Programme (OVEP) this year along with the IOC to motivate children’s participation in sports encouraging them to compete and inculcate these core values in their lives.
Reliance Foundation is constantly reimagining ways to protect and promote India’s rich arts, culture & heritage while enhancing avenues for livelihood of traditional artisans and crafts persons.
At the Nita Mukesh Ambani Cultural Centre (NMACC) in Mumbai, Reliance Foundation showcased skilled artisans in action with direct engagement between traditional artisans and their audiences through Swadesh.
To preserve traditional built heritage, Reliance Foundation is renovating the renowned Kalighat Temple in Kolkata, restoring the temple to its original grandeur.
Reliance Foundation also supported region-specific music, dance and theatre festivals.
Fourth year in a row RIL Chairman Mukesh Ambani drew no salary as he set an exceptional example in the corporate world.
In June 2020, Mukesh Ambani, the Chairman and Managing Director, voluntarily decided to forego his entire remuneration including salary, allowances, perquisites, retiral benefits as well as any commissions for year 2020-21, in light of the COVID-19 outbreak in India, which exacted a huge toll on the societal, economic and industrial health of the nation.
He continued to forego his entire remuneration in year 2021-22, in year 2022-23, and now in 2023-24 as well.
Prior to that, the Chairman and Managing Director had his remuneration capped at Rs 15 crore since 2008-09 in order to set a personal example of moderation in managerial compensation levels.
In the last four years, Ambani did not avail any allowances, perquisites, retiral benefits, commission or stock options from Reliance for his role as the Chairman and Managing Director. (ANI)
In the Nifty 50 list of companies, 48 opened with advances, while only 1 company opened with a decline and 1 remained unchanged at the time of this report…reports Asian Lite News
Indian markets started Wednesday’s trading session on a positive note, following a global rally. The Nifty 50 index opened with a gain of 296.85 points or 1.24 per cent, reaching 24,289.40 points, while the BSE Sensex opened at 79,565.40 points, up by 972.33 points or 1.24 per cent.
In the Nifty 50 list of companies, 48 opened with advances, while only 1 company opened with a decline and 1 remained unchanged at the time of this report.
The Nifty Next 50 index surged by more than 1.8 per cent to 71,577.65 points. The Nifty Midcap and Nifty Small Cap indices also supported the rally, each gaining more than 1 per cent.
“Volatility means moves will be sharp and we still recommend the avoidance of trades. For investors, it is as good a time as any to take long-term exposure and benefit from the multi-decade India Growth Story. Just don’t try to pick market bottoms or market tops. No one gets that right consistently and more importantly, profitably” said Ajay Bagga, Banking and Market Expert to ANI.
Almost all sectoral indices on the National Stock Exchange, including Nifty Bank, Nifty Auto, Nifty FMCG, and Nifty IT, surged around 1 per cent.
In quarterly financial announcements, Pidilite Industries, Godrej Consumers, Apollo Tyres, and Aditya Birla Fashion & Retail, along with others, are set to announce their first-quarter results today.
Asian markets also rallied after the Bank of Japan stepped in to control market turmoil, deciding not to hike interest rates. The Bank of Japan in a post on X shared the comments of the Deputy Governor of the Bank of Japan, Shinichi Uchida, who said, “As for the future conduct of monetary policy, in a nutshell, I believe that the Bank needs to maintain monetary easing with the current policy interest rate for the time being, with developments in financial and capital markets at home and abroad being extremely volatile.”
In stocks, Japan’s Nikkei 225 surged more than 2 per cent, Hong Kong’s Hang Seng surged more than 1.26 per cent, and Taiwan’s Weighted Index gained more than 3.5 per cent on Wednesday trading.
U.S. markets also closed with gains on Tuesday, with the S&P 500 and Nasdaq indices each surging more than 1 per cent. According to experts, a renewed wave of dip buying spurred a rally in U.S. stocks. (ANI)
