Monday, October 15, 2018

Latest News

GSS Infotech acquires Nexiilabs

GSS Infotech Inc. (A wholly owned subsidiary of GSS Infotech Ltd) has signed the Share Purchase Agreement for acquiring 100% shares of Nexii Labs...

Axis Bank launches contactless payment solutions

Axis Tap & Pay is available on all NFC-enabled android mobile phones Increased speed and convenience for customers Axis Tap & Pay is available...

Buzzinga Digital bags Timezone Entertainment mandate

Buzzinga Digital will use social media, content and paid promotions to amplify Timezone’s growth and success story in India Timezone Entertainment, the world’s leading fun...

Revv to foray into 9 new locations in India

Car sharing platform ‘Revv’ had raised INR 100 crore series B fund led by Hyundai Motors, existing investors Edelweiss and Beenext, and new investors...

Procter & Gamble announces multi-million-dollar Innovation Sourcing Fund

P&G India will also launch a dedicated always-on online partnership platform connecting innovative start-ups and small businesses to the Company P&G India is hosting its...

Acme Clinical Trials raises USD 30 million Dollars

Startup Acme Clinical Trials launching an AI-powered database connecting patients and researchers to leading-edge insights, intel, and treatment The number of registered clinical studies has...

Splash partners with Natur-Tec for sustainable packaging solution

The biobased and compostable plastic will reduce 298 Tons of carbon dioxide emissions a year Splash, a prominent fashion retailer in India and Middle East,...

Sterling & Wilson plans foray into Kazakhstan

Kazakhstan is aiming at reducing its dependency on fossil fuel power generation to alternative energy. Sterling and Wilson, World’s leading solar EPC company, has announced...

NIMHANS adopts Dassault Systemes SIMULIA

NIMHANS uses simulation from Dassault Systèmes in its research to Improve efficacy of medical treatment through Neuromodulation Accurate simulations could potentially help medical professionals forecast...

Wipro launches Innovation and Talent Hub in United Kingdom

The new state-of-the-art facility will train computer science graduates and degree apprentices from the UK Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading...

Amway announces Milind Pant as CEO

Milind Pant Joins Amway from Yum! Brands where he was the president of Pizza Hut International Amway, the world’s largest direct selling company, today announced...

AMETEK opens Technology Solutions Centre in Bengaluru

AMETEK is operational over 150 locations with a global network spanning 30 countries AMETEK Instruments (India) Pvt. Ltd. has established a technology solutions centre at...

Vinay Razdan to head Human Resources for HDFC Bank

Vinay joins HDFC Bank from Idea Cellular Ltd. where he was the Chief Human Resources Officer HDFC Bank Ltd. has appointed Vinay Razdan as its...

Concept Medical raises INR 440 crore

Concept Medical Inc. raises INR 440 crores for Investigational Device Exemption (IDE) for the World’s first sirolimus-coated balloon Concept Medical Inc. (CMI) has approached the...

Ola Money collaborates with Cashfree to bring Micro-lending to online shoppers

  Bangalore based payments technology company, Cashfree has partnered with Ola Money to launch Pay Later facility for the consumers of its online merchants. The...

Acko collaborates with DriveU

  New age insurance company, Acko General Insurance announced a strategic partnership with DriveU, an on-demand driver service to launch a one of its kind...

“Drones will play a key part in real estate sector post their approval by the ministry. Till now, drones were primarily used to shoot videos for marketing AVs as to provide bird’s eye view of the project. Going ahead, we believe drones will play a key role in 3-D mapping, surveillance of projects and traffic management etc. Drones will also be used for inspection of construction activities which will minimize risks associated with workers inspecting the same in high rise structures,” –
         Prasoon Chauhan, CEO of HomeKraft an ATS company.


SC lifts ban on construction activities

“The Supreme Court order lifting the ban on construction activities in Maharashtra will come as a huge relief to the citizens of the state.

The importance of Maharashtra’s realty industry can be gauged from the fact that it comprises nearly 15 per cent of the country’s Rs 10 lakh crore annual real estate industry.

The ban would have impacted allied industries across major sectors such as banking, cement, steel, sanitary, tiles and electrical equipment, besides hurting the interest of the labour force.

We welcome the SC order as it will pave the way for redevelopment of old and dilapidated buildings in Mumbai and new projects in the other parts of the state. It is pertinent to note that the state already has a solid waste management in place.

Besides, the Brihan Mumbai Municipal Corporation (BMC) and the state government will generate additional revenue stream of premiums, which can be utilized for infrastructure development projects in the state.” –
         Mayur Shah, Managing Director, Marathon Group


June IIP at 7% was a big positive surprise, higher than market and our expectations of less than 6%. In addition to a weak base, the strong headline number was aided by broad based pick-up in production activity. The strong recovery in manufacturing and consumer durables is particularly encouraging as is the continued strength in infrastructure and construction sector. This is in tandem with credit growth in the construction sector at ~8% during the last 12 months. However, we are slightly concerned with the weakness in consumer non-durables, though this could reverse on the back of normal monsoons and government support aiding rural income as we go ahead. The resultant Q1 average of 5.2% YoY for IIP will help to support the headline GDP print for the period. We expect a GDP growth of 7.3% for Q1. –
         Mr. B Prasanna, Group Executive and Head- Global Markets Group of ICICI Bank.


RBI rate hike seems to be with an intent to durably reduce long-term inflation. With crude prices going up, depreciation of the rupee, increase in MSP and 6% below normal rainfall, the upside risks to inflation had gone up.
This will potentially impact flows in long-duration bond funds. Investors should focus on short duration funds. The GDP growth rate and rural consumption are sound, the medium term equity risk reward is still favorable. –
         Mohit Ralhan Managing Partner & CIO, TIW Private Equity


“Markets have hit an all time high after remaining rangebound and volatile for quite some time. The rally can be attributed to an expectation of a robust growth in earnings during the ongoing result season.”-
          Nitasha Shankar, Sr. Vice President and Head of Research at YES Securities (I) Ltd.


“Dock-less scooter sharing service for point to point connectivity is the way forward for this industry. ONN Bikes launched the hourly rental model which became an instant hit with the metro population where people started using the service as an alternate to cab transport for one way commute. This is the perfect precedence for the launch of one way rentals and dock-less rental service”-
         Namit Jain, Founder, ONN Bikes


“Traditionally a lean period, monsoons have become the most awaited travel time of year in India over the years. Travellers who wish to avoid peak summer holiday season and enjoy the lucrative off-season deals often prefer to travel during monsoons. At Travel Tours, we have observed rising interest in queries for destinations such Goa, Kerala, Andaman, Darjeeling, Mysore, Ooty, Kodaikanal and more. The locales offer refreshing mid-year breaks into the lap of nature and truly enhance the flavour of monsoon. This year we have seen a steady uptake of 28% in monsoon bookings over last year. Additionally, the rise in bookings can be appropriately attributed to various promotional deals offered by airlines.”-
         Rakshit Desai, Managing Director of FCM Travel Solutions – Indian Subsidiary of Flight Centre Travel Group, Australia


“Government of India’s initiative to push affordable housing under PMAY has now reached its desired potential with the recent announcement by MoUD to increase the prescribed carpet area for MIG under CLSS. The carpet area definition of MIG as a category is relatively broader than the earlier eligible CLSS criteria and buyers who were buying flats or constructing houses, with carpet areas over 120 sq m or 150 sq m were not being able to avail benefits under the scheme. In general, the overall market performance and buyers sentiments has just started to return to levels seen pre- demonitization and other policy level interventions in the past 2 years. MoUD’s initiative to increase the carpet area for MIG category coupled up with RBI’s recent move to increase the loan limit will generate positive momentum and surely work in favour of the industry players and in the best of interest of the home buyers.”-
         Rakesh Reddy, Director of Aparna Constructions


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