DAILY NEWS

by Shrutee K ·           Investment builds on Advent’s expertise in the pharmaceuticals sector, having invested in over 20 businesses in pharmaceutical R&D, production, and distribution ·           Transaction is Advent’s fifth investment in India over the past 12 months New Delhi,INDIA, January, 2022  – Advent International (“Advent”),  one of the largest and most experienced global private equity investors, today announced that it has signed a definitive agreement with Dr A V Rama Rao, a distinguished scientist, Padma Bhushan and Padma Shri awardee, and his family to acquire a controlling stake in Avra Laboratories Pvt Limited (“Avra Labs”). Founded  in 1995, Avra Labs is a Hyderabad based contract manufacturing and research services (CRAMs) and specialty active pharmaceutical ingredients (API) manufacturer with four facilities across the states of Telangana and Andhra Pradesh....

by Shrutee K Mr. Rajiv Mehrishi has been appointed as the Chairman of the Governing Board of NSE IFSC Limited (“NSE IFSC” - NSE’s International Exchange in GIFT city) effective January 25, 2022. The International Financial Services Centres Authority (IFSCA) had earlier approved his appointment as Public Interest Director (PID) on the Governing Board of NSE IFSC with effect from December 09, 2021.   Mr. Mehrishi, a retired  Indian Administrative Service  (IAS) officer, was the 13th  Comptroller and Auditor General of India  (C&AG) (2017 – 20) and Vice Chairman of the  United Nations  Panel of External Auditors. A few of his prior roles include being  Finance Secretary  (2014 - 15),  Home Secretary   (2015 - 17) and the Chief Secretary,  Government of Rajasthan  (2013 - 14).  He holds a master’s degree in History from  St. Stephen's College , Delhi and a degree in  Business Administration  f...

by Shrutee K Vaccination drive conducted across 434 Ujjivan SFB branches across 19 states, union territory Contributes INR 3,06,000 to Prime Minister’s Care Fund in FY 20-21, In FY 21-22 our objective is to contribute Rs. 10,00,000/-   to   Prime Minister’s Care Fund New Delhi, January 25, 2022:  Ujjivan Small Finance Bank today announced that it had achieved landmark of 50,000 vaccinations amongst the low-income population residing in urban, semi-urban and remote rural geography in just less than 5 months, organizing vaccination camps for the general public coming within the purview of the Bank’s Operational areas and those in the vicinity across 434 branches in 18 states and union territory of Puducherry. The bank now aims to achieve another 50,000 vaccinations within these lower-income groups, including those residing in remotest locations to achieve overall 100,000 vaccinations by March 31,2022. Ujjivan SFB has attributed the success in achieving landmark vaccination ...

by Shrutee K "Real estate being the second-highest employment generator and contributing more than 8 percent to the economy, the expectations from the 2022-23 budget are high and the industry is awaiting big announcements that will alter the future of the real estate sector. The Central and State governments rolled out several reforms and incentives during the past year to revive the economy from the ill effects of the pandemic. The Government will continue to put in its sincere efforts in pushing affordable housing. The cap of Rs. 2 lakh per annum against interest rate deduction under section 24(b) of the Act needs to be hiked to at least Rs. 5 lakh along with removing the 45 lakh cap from affordable housing, which will boost the affordable and mid-segment housing in a big way. We also expect the government to continue promoting the affordable rental housing schemes by announcing tax reliefs for rental housing projects, which will fast track the pace of investments in these schem...

by Shrutee K Mumbai, 13 January 2022:  The first advance estimates of the government projects India’s GDP to grow at 9.2% in 2021-22 after a steep contraction of 7.3% in FY 21. While the economy is recouping its losses from Covid-19 with encouraging growth across manufacturing, mining, construction and services sectors, the impact and intensity of the third wave continue to be monitorable. The latest economic indicators are hinting towards an urgent need of demand stimulation measures to sustain the economic recovery. The Government should look at ways to boost private consumption and incentivise the real estate sector in the upcoming budget. The government’s support in the form of liquidity infusion, fiscal support and reform-driven investments was timely to keep the real estate sector amongst others to remain afloat and recover. There is a need for the continuation and introduction of tax sops and incentives to prospective homebuyers, investors, and developers at large. Coll...

Ittira Davis, a veteran banker of international repute to lead Ujjivan Small Finance Bank   by Shrutee K New Delhi: January 13, 2022 : Ujjivan Small Finance Bank today announced that it has received the RBI approval for the appointment of Mr. Ittira Davis as its Managing Director & CEO for a period of 1 (one) year. Mr Ittira Davis is a senior banker with over 40 years of rich experience having worked extensively in India, Middle East and Europe. He has been associated with Ujjivan since March 2015. His first pivotal assignment, as the Head of Transition, was to oversee successful transformation of a micro-finance institution into a small finance bank which included accessing the capital markets with two successful IPOs. Prior to Ujjivan, Mr. Davis was the Managing Director with the Europe Arab Bank, London. He has also held leadership positions with Arab Bank plc, Bahrain and Citibank, India.  He is an alumnus of Indian Institute of Management-Ahmedabad (IIM-A). Mr. B A Pr...

by Shrutee K BSE listed, East West Holdings Limited (Through Wholly owned Subsidiary (WOS) East West Freight Carriers Limited) has bagged prestigious service contracts from two Reputed companies, i.e L&T TECHNOLOGY SERVICES LTD and SUGAR COSMETICS. The said service contract is expected to generate revenue of Rs 2 to 3 crore.   Under this service contract the Company will be providing total Logistic Solutions to L&T Technology Services Ltd and SUGAR Cosmetics.  On the momentous occasion, Mr. Mohammed Ajaz Shafi - Managing Director & CEO said that “We are proud to be associated with such a reputed Company and its emphasis the superior quality of services delivered by the Company to its clients and it’s our continuous endeavour to add more such reputed clients to our clientele.” About East West Holdings Limited: East West Holdings Limited (EWHL) is engaged in providing total logistic solution through its WOS East West Freight Carriers Limited (EWFCL) established in 19...

by Shrutee K Mumbai, 11 January 2022: BSE listed East West Holdings Ltd (BSE: 540006) has informed the Exchanges that,through its wholly owned Subsidiary (WOS) East West Freight Carriers Limited  has successfully  renewed its service contracts with reputed Government Organizations and Prominent Corporate clients as mentioned below: 1. CSIR- Indian Institute of Chemical Technology 2. TOP Metals Limited 3. Gracure Pharmaceuticals Ltd 4. M.R. Exports Under the said service contract the Company will be providing Total Logistic Solutions to these clients. The above contract is expected to generate revenue amounting to approx. Rs. 23 to 25 crore.  East West Holdings Limited (EWHL) is engaged in providing total logistic solution through its WOS East West Freight Carriers Limited (EWFCL) established in 1976 and has presence in the Indian Freight Forwarding & Logistics space for more than 45 years. Backed by over 45 years of experience, the Company provides superior qu...

by Shrutee K Ahmedabad, Jan :  Shanti Asiatic School, Bopal, on Friday organised a felicitation ceremony to commemorate the achievement of Harshit Kumar, a student of the 2017-18 batch, for securing 99.99 percentile in the Common Admission Test (CAT). Harshit also secured a rank in the top 28 students across India and the top four in Gujarat. Run by the Shanti Educational Initiatives Limited (SEIL), Shanti Asiatic School, as a token of appreciation, awarded Rs 1.25 lakh to Harshit for his achievement. During the occasion, Harshit, who is doing his engineering at the Indian Institute of Technology Gandhinagar (IITGN), shared his success mantras with students of the school and inspired them to work hard to achieve success in life. Harshit was accorded a grand welcome by the Vice Principal, Ms Sandhya Uday. Director and Principal Mr Abhay Ghosh, too, congratulated and applauded him for following his dreams of serving the nation. Congratulating Harshit on this achievement, Mr Ghosh sai...

by Shrutee K The pandemic transformed people’s homes into their offices as work from home became the norm. Now, it is slowly turning people’s houses into their gyms, as online fitness coaching is gaining popularity. With gyms closed for several months at a stretch over the last year, many took to the virtual world for their fitness needs and are planning to continue. Celebrity Fitness Trainer Yogesh Bhateja known as Yogesh Fitness and announced the launch of his affordable online fitness training program to reach out to people & spread awareness about exercising & healthy eating. Yogesh's aim is to make people understand that getting fit & staying healthy should be the priority to fight back from major concerns of today like stress, anxiety, depression & COVID. "After 10 years in the fitness industry, I'm so excited to launch my online services and make the brand of Yogesh Fitness available to a wider audience," Yogesh said. Yogesh Bhateja, a popular c...

by Shrutee K At least 25% of people who experience a non-fatal heart attack or sudden death, have had no previous symptoms Doctors recommend that all adults   must get their heart checked for calcium deposits once a year through the heart calcium-score screening test NURA doctors are seeing 20% positive rate for heart calcium among people getting themselves tested BENGALURU / JANUARY 11, 2022 –  Increasing presence of calcium deposits in coronary arteries will gradually lead to their narrowing down, triggering a heart attack if preventive measures are not taken. Everyone above the age of 18, especially those with a family history of heart blockage, should undergo the calcium-score screening heart test once a year, recommend doctors of  NURA diagnostic centre , a collaboration between Fujifilm Healthcare and Dr. Kutty’s Healthcare. Said  Dr. Tausif Ahmed Thangalvadi, Medical Director, NURA : “A calcium-score screening heart test, also called coronary calcium scan, use...

  by Shrutee K Mumbai, 10th January 2022:  Traditional ways of conducting business such as the process of locally reaching out to potential business partners via directories, relying on too many salesmen of various companies for buying or selling products, are now ready to move to the next level. Although completely functional, the process of manually doing every job from sales to sales operations is tedious and time-consuming. It is now time to adopt newer ways that create ease of business, empowering one with modern ways to conduct and expand, and grow together as a community. BLUMART  is a Business Service Provider that connects Retailers and Distributors with an aim to build stronger trade connections to empower the channel. The company strives to bring ease to retailers’ purchases and distributors’ sales processes and all this is done with the help of 360 Degree Business Support of the  BLUMART  application, on-field Business Associates & a Call Centre,...

by Shrutee K RBL Bank to offer intuitive AI-based recommendations through its digital platform, Abacus 2.0 Collaboration will see RBL Bank working with Google across its products to accelerate digital transformation and deepen customer engagement New Delhi, India, Jan. 10, 2022  – RBL Bank and Google today announced a strategic collaboration to fuel the Bank’s customer experience strategy and expand its value proposition to serve its rapidly growing customer base through its digital platform, Abacus 2.0. This collaboration will enable better customer data management, and analytics, enabling effective cross-selling within the Bank’s large customer base and subsequently reducing the cost of customer acquisition, significantly. Through Abacus 2.0, the Bank aims to provide a superior and holistic one stop solution to its existing and new customers, to seamlessly deliver its different product offerings across channels. RBL Bank currently has over 4 million urban retail asset and liabili...

by Shrutee K Mumbai, January :  The Karnatak Sporting Association (KSA) has taken a wise decision to postpone the ‘Silver Jubilee’ edition of the 25 th  Shri Ramanath Payyade Memorial Football Tournament, which was scheduled to kick-off on Saturday at the KSA ground, Cross Maidan, Churchgate end. Jaya A. Shetty, Joint Hon. Secretary, KSA informed that the Managing Committee took the decision to postpone the tournament. “The Covid-19 pandemic situation is currently witnessing a steep rise in the positive cases in the city and it would not be safe for the young players to travel for their matches. Taking this aspect into account the Managing Committee unanimously decided to postpone the tournament till further notice,” Shetty mentioned. “Since this is the ‘Silver Jubilee’ edition of the tournament we were all looking forward to conduct it in a big way. All the participating teams were also eagerly looking forward to playing in the tournament which is played on a league basis. Bu...

by Shrutee K  New Delhi, January, 2022:  GAIL (India) Limited has acquired equity stake of 26% in ONGC Tripura Power Company (OTPC), which owns and operates a 726.6 MW gas-based combined cycle power plant  in Palatana, Tripura . The stake has been acquired from IL&FS Group companies namely, IL&FS Energy Development Company Limited and IL&FS Financial Services Limited. GAIL and IL&FS Group concluded the transaction yesterday by signing Deed of Adherence (DoA) to Shareholders Agreement of OTPC. The DoA was signed by Shri Santanu Roy, Executive Director (BD, SD & CA), GAIL, Shri Feby Koshy, CEO of IEDCL and Mr. Santanu Sen, Senior Vice President, IL&FS on behalf of IFIN and in the presence of Chairman & Managing Director, GAIL Shri Manoj Jain and Executive Director, IL&FS Shri Nand Kishore. Other shareholders of OTPC have also given their written consent to DoA. GAIL had participated in an open bidding process of IL&FS and had emerged as t...