New Delhi [India], February 22 (ANI): Mining industry veteran and former Coal India Limited chairman Anil Kumar Jha has been appointed as the new Chairman of Jindal Power Limited, a subsidiary of Jindal Steel and Power Limited (JSPL).
Commenting on the appointment, JSPL Chairman Shri Naveen Jindal said, “We welcome Anil Kumar Jha to the JPL family. We are confident that with his vast experience and rich insights, JPL under his leadership will continue to scale new heights and contribute towards a self-reliant India. We wish him great success at JPL.”
Jha began his career with Coal India Limited at Central Coalfields (CCL) in July 1983 and has handled
various senior leadership positions rising to the level of chairman and managing director of Coal India
Ltd. Coal India’s output had surpassed 600 million tonnes during his tenure, as per an official statement.
Additionally, Jha is a member of the Expert Appraisal Committee (Violation) under the Ministry of Environment, Forest and Climate Change. He is also Chairman, Committee of Modernisation, Director General Mines Safety and member of Coal Mining committee in NTPC.
Jha brings with him rich work experience of over three decades in the field of mine planning, production, management, supervision, direction and control of underground as well as open cast mines, according to the release.
Born in January 25, 1960, in the Godda district of Jharkhand, Jha is a Mining graduate and M Tech from the Indian School of Mines, Dhanbad. He started his career with Coal India as Junior Executive (Trainee) at Topa Colliery in Central Coalfields Limited (CCL) in 1983 and joined Mahanadi Coalfields Limited (MCL) as CMD on November 1, 2015.
Jindal Power Limited (JPL), a subsidiary of Jindal Steel and Power Limited, is a leading power company in India across the energy spectrum. Its coal-based thermal power plant with an installed capacity of 3400 MW is located at Tamnar, Raigarh District in Chhattisgarh. (ANI)
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Sensex jumps by 1,148 points, Nifty closes at 15,246
Mumbai (Maharashtra) [India], March 3 (ANI): Equity benchmark indices extended early gains and closed 2.2 per cent higher on Wednesday with metal and banking stocks gaining smart margins.
The market sentiment was upbeat after an expansion of the country’s vaccination drive while easing US bond yields also boosted risk appetite.
The BSE S&P Sensex closed 1,148 points or 2.28 per cent higher at 51,445 while the Nifty 50 surged by 327 points or 2.19 per cent to 15,246.
Except for Nifty auto which slid by 0.6 per cent, all sectoral indices at the National Stock Exchange were in the green with Nifty metal up by 3.3 per cent, PSU bank by 3.1 per cent and private bank by 2.7 per cent.
Among stocks, Tata Steel rose by 5.3 per cent to Rs 774.80 per share while Hindalco and JSW Steel moved up by 3.9 per cent and 3.2 per cent respectively.
Index heavyweight Reliance Industries advanced by 4.8 per cent to close at Rs 2,207.10 per share. Bajaj Finserv was up by 4.9 per cent, Bajaj Finance by 4.2 per cent, ICICI Bank by 3.5 per cent and SBI Life by 3.1 per cent.
However, auto stocks skidded with Hero MotoCorp down by 1.5 per cent to Rs 3,422.00 per share. Bajaj Auto and Maruti Suzuki slipped by 1.1 per cent each, Mahindra & Mahindra by 1 per cent and Eicher Motors by 0.05 per cent.
Ircon International was down by 6.9 per cent to Rs 91.10 per share as the offer for sale opened for up to 16 per cent government stake at a floor price of Rs 88 per share in the railway PSU.
Meanwhile, Asian shares edged higher as investors shrugged off concerns that stocks may have rallied too far too fast in the past year.
Hong Kong’s Hang Seng index was up by 2.7 per cent as inflation fears eased. Japan’s Nikkei stock index rose by 0.51 per cent as hopes for economic rebound boosted cyclical stocks.
South Korea’s Kospi ticked up by 1.29 per cent and Shanghai Composite Index moved up by 1.95 per cent as policy anxiety eased. (ANI)
Ghana opens trade desk in South India
Thiruvananthapuram (Kerala) [India], March 3 (ANI/PNN): To enhance India-Ghana bilateral trade and investment opportunities, Ghana High Commission inaugurated the Ghana Trade Centre in Bengaluru under the India Africa Trade Council for promoting trade and Investment Opportunities.
South Indian companies can take advantage of opportunities in rural development, agriculture technologies, agriculture cultivation, irrigation, agro-processing, sanitation and renewable energy projects in Ghana, Sebastian Beliwine said while addressing the program which was jointly inaugurated by KC Rammurthy Member of Parliament Rajya Sabha, Ernest Nana Adjei, Minister Counsellor, Political and Economic from High Commission, Basavarajendra IAS, Commissioner of Animal Husbandry & Veterinary Sciences, NS Venkatesh from the Development Partnership, Rao Munukutla, CEO of Bangalore Airport Corporation Limited and Dr. Asif Iqbal, President of the Indian Economic Trade Organization (IETO).
Ramesh KR, an industrialist was given the letter of appointment from India Africa Trade Council to manage the Ghana Trade office in Bengaluru.
“The Republic of Ghana is the headquarter of the African Continental Free Trade Area (AfCFTA) and can serve as a gateway to the 1.2 billion-strong African population having a combined GDP of USD 3.4 trillion”, said Dr. Asif Iqbal President of the Indian Economic Trade Organization at the summit. Accra is the headquarters of the AfCFTA. The FTA has 1.2 billion consumers and a combined GDP of USD 3.4 trillion.
Rammurthy recalled his experience during his visit to Ghana and remarked that “India is one of the largest foreign investors in Ghana in terms of projects. Indian banks are present there supporting the Trade community and Delhi Public School (DPS) has a presence in Ghana. Bilateral trade has also jumped 48 per cent over the last two years. India can help Ghana become a manufacturing hub and explore its linkages with the African market.
Ramesh KR said that the World Bank’s Ease of Doing Business report 2019 remarked Ghana as the best place for doing business in West Africa. Karnataka companies can explore investment opportunities in sectors such as gold, bauxite and iron ore mining, agro-processing, healthcare and other sectors.
Harsh Vardhan IRS, GST Commissioner from Bangalore remarked that India is among the top three exporters of textile products to Ghana. Further, Indian companies can supply raw materials and transfer knowledge to Ghana businesses in the pharmaceutical sector.
The inaugural session was attended by representatives from trade and industry, consular corps, academicians, MSMEs. A special edition of India-Ghana Relations was released by the Plenipotentiary Diplomatist at the event.
“African Continental Free Trade Area, which came to force this year, has made Africa the world’s largest free trade area… India views this development as yet another opportunity to boost trade and economic ties with Africa” said NS Venkatesh is the head of the Development Partnership Programs of the Indian Economic Trade Organization.
“India’s partnership with Africa is based on a model of cooperation which is responsive to the needs of African countries. It is demand-driven and free of conditionalities. It is based on our history of friendship, historical ties, and a sense of deep solidarity. Ghana Desk in Bangalore will help with all support related to delegation visits to the country after the pandemic and the High commission will support these mechanisms to enable partnerships” said Ernest Nana Adjei from the Ghana High Commission.
Ghana imports automobiles and buses from India and companies like Tata Motors and Ashok Leyland have a significant presence in the country. Ghanaian exports to India consist of gold, cocoa and timber while Indian exports to Ghana comprise pharmaceuticals, agricultural machinery, electrical equipment, plastics, steel and cement. The Government of India has extended USD 228 million in lines of credit to Ghana which has been used for projects in sectors like agro-processing, fish processing, waste management, rural electrification and the expansion of Ghana’s railways.
India has also offered to set up an India-Africa Institute of Information Technology (IAIIT) and a Food Processing Business Incubation Centre in Ghana. Bank of Baroda, Bharti Airtel, Tata Motors and Tech Mahindra are amongst the major Indian companies in Ghana.
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
Kuberan’s House onboards Sanjay Mehta, Ankita Vashistha, and Dr Apoorva Ranjan Sharma as Kuberas (Investors) for its entrepreneurship themed reality show
New Delhi [India], March 3 (ANI/NewsVoir): When the world came to a standstill due to the COVID-19 pandemic, Sanjeev K Kumar (Co-founder and CEO), Ram Gowda (Co-founder and MD) and Ranjith Royal (Co-founder) got together to create an entity that could help the country turn its ‘Make in India’ mantra a reality and, thus launched Kuberan’s House.
Kuberan’s House, a first and one-of-its-kind firm dedicated to source and showcase innovative start-up ideas across India and help them connect to India’s most proactive investors; has announced roping in Sanjay Mehta, Dr Apoorva Ranjan Sharma, and Ankita Vashistha as their next Kuberas for their start-up themed reality show. This is a first and one-of-its-kind show in the reality television genre.
Sanjay Mehta is one of the prominent names in the angel investors category. He is the founding member of Mehta Ventures and 100X.VC. So far he has invested in over 130 start-ups across sectors including key ventures like Oyo rooms, Box8, FabAlley, Zippr just to name a few. He also has set his footprints abroad and is a globally recognized personality in the start-up and venture capitalist space.
This entrepreneur turned investor is a figurine of the failures to success journey. He is now one of the most sought-after angel investors in the start-up zone. He is an active member of the Indian Angel Network, Mumbai Angels, B2B 1K Ventures, CIO Angel Network, and Venture Nursery. He was also awarded Angel investor of the year 2017 by Let’s Venture. He prefers working closely with entrepreneurs and innovative pitches attract him and push him to help the deserving founders and their concepts.
Owing to his diverse career portfolio and vast industry experience, roping him as the fourth investor was indeed a strategic move by Kuberan’s House.
The brand also announced the appointment of the fifth investor who is the first female Kubera, Ankita Vashistha. She is the Founder and CEO of the first venture capital fund for Women Entrepreneurship, Saha Fund. She is counted as one of the leading women entrepreneurs and venture capitalists.
She has spread her footprints at the global level and has mentored over 1000 startups. She was one of the first investors in key ventures including Luxola (Sephora), InstaHealth (Practo), MySpaces out of the lot. Carrying forward her aim to mentor and support aspiring entrepreneurs, she launched a global foundation, MyStepUp Entrepreneurship, and Innovation Foundation, to support innovation and entrepreneurship in diversity.
She has 14 years’ experience at the global level and across sectors including healthcare, FinTech, the consumer just to name a few. She works with an aim to help the deserving concepts and pushes to upscale them via her assistance and guidance. An active advisor and mentor, she is also a part of the global angel network including Indian Angel Network along with other incubator and accelerator groups. Meanwhile, she also contributes to social causes and promotes gender equality and women empowerment.
She was also awarded as the Leading women fund manager and Top 10 Asian in Finance at the global level. She is one of the most powerful women entrepreneurs and venture capitalists in the global start-up space. Due to her consistent and persistent efforts, she is now a well-recognized name in the industry, especially in the female category.
With her varied career trajectory, key achievements, academic qualification, and vast industry experience, her roping in as the fifth investor and the first female Kubera was the appropriate decision by the brand.
Dr Apoorva Ranjan Sharma is the Co-founder & President of Venture Catalysts, India’s largest incubator, and early-stage investor. So far, he has established over 12 incubators, invested in approximately 30 start-ups, and has extended his mentorship to over 100 ventures. He has invested in around 30 start-ups including Oyo, Beardo, BharatPe, Innov8. He is also a Board Member of TiE Mumbai.
He is counted amongst the top 10 angel investors in India. Due to his concerted efforts, Venture Catalysts is the third significant player in the start-up industry. He has successfully created a network of 4500 plus angel investors across over 40 cities. With a vision to drive the growth of the start-up industry at his end, he pioneered the launch of the first accelerator fund, Unicorns to continue his search for potential venture concepts and provide them with the requisite assistance.
A graduate in electrical engineering, Dr Sharma is the first-ever student to acquire a PhD in Incubation and is recognized at the global level. Additionally, he also holds a diploma in Mentoring Studies. It is because of his high-end academic qualification, successful entrepreneurship run, expertise in the sector, pioneer of incubation launch and the various milestones achieved that his onboarding as the sixth investor on Kuberan’s House’s show seems to be the appropriate decision.
Expressing his excitement over the same, Sanjay Mehta, Founder and Partner, 100X.VC said, ”I believe that angel investing is not just putting in money, it’s about smart money. The investment you are putting in should add value to your firm, the funding venture, and the entrepreneurship ecosystem at large. I prefer choosing founders over markets and hence I am always on the lookout for worthy ideas. Kuberan’s House is doing magnificent work by dedicating itself to the start-up industry.
Their entrepreneurship theme-based show is indeed one of its kind and a great initiative to upscale the industry. This is what prompted me to be a part of such a unique idea. It perfectly aligns with my objective of supporting the deserving aspiring entrepreneurs that are relevant for the start-up industry and will add value to the ecosystem. I am elated that I am a part of this show. I hope that I will be able to guide and mentor the participants in my maximum capacity. I am excited for my stint as a Kubera and I know it is going to be a magnificent journey.”
Dr Apoorva Ranjan Sharma, Founder & President of Venture Catalysts, shared his thoughts and joy on this announcement and said, ”Kuberan’s House’s initiative of coming up with an entrepreneurship-based show is an extraordinary concept that will help boost the start-up industry. Their goals resonated with mine and I immediately agreed as I knew this would be a once-in-a-lifetime opportunity. Not only would the platform be the ideal place to share my failure and success stories but it will also help the participants when they will be connected with the investors possessing real-world industry experience. I wish to extend the best possible experience and guidance to the participants and receive insights about the recent happenings and trends of the ever-evolving start-up ecosystem. I am looking forward to my rollercoaster ride as an investor on a reality show.”
Sharing her thoughts, Ankita Vashistha, Founder & CEO, Saha Fund, says, “I was ecstatic when I first got to know about a reality show dedicated to entrepreneurship and start-ups. I am glad that there are proactive efforts taken to accelerate the start-up ecosystem in India. I look forward to meeting and interacting with budding entrepreneurs and extending my support. I desire to do all that I can for worthy ideas to my maximum capacity. I am thrilled to be an investor on the show and am waiting to receive some out-of-the-box ideas from the participants. Additionally, being the first women investor is indeed a moment of pride for me and I am all set for this exciting ride.”
Speaking on the announcement, Sanjeev K Kumar, Co-founder and CEO, Kuberan’s House said, “It is with immense joy we share that we have roped in the fourth, fifth, and sixth Kuberas for our show. We are all the more ecstatic now that we have our first female Kubera as well. We are sure Sanjay Mehta, Ankita Vashistha, and Dr Apoorva Ranjan Sharma will extend the best of the mentorship and guidance to the participants. We hope the contestants imbibe the maximum they can and gain insights and relevant exposure from their varied experiences. They will add the flavor of age-old expertise and fresh challenging stories with their diverse career portfolio, grass-root level stories, and real-world experience. Roping them in was indeed the apt decision. While the preparations for the show are in full swing, we are eagerly waiting to launch the show.”
Expressing his excitement on the same, Govind Balakrishna Raju, Chief Strategy Officer, “Startups is all about hustling and execution, super delighted and honoured to have Sanjay Mehta, Ankita Vashistha, and Dr Apoorva Ranjan Sharma on-board, their continuous contribution and support to the startup ecosystem have been invaluable. Their role and participation in kuberan’s house will help the most promising startups fulfil their funding support, growth journey and turn their dreams into reality.”
Segregated into multiple stages along with a thorough filtering process by an in-house screening team called 9XV, the show has various perks like aws credits of $1000 for top 500 participants, Kuberan’s House fellowship, a comprehensive 3-day workshop, and a golden opportunity to perform at the global monthly event, ‘Open Innovation Week’ for top 100 and much more.
Kuberan’s House, a first-of-its-kind platform to source, streamline, and showcase innovative start-up ideas from across India will help entrepreneurs especially from tier 2 & tier 3 towns connect to the best venture capitalists/ investors from across the country, converting most of them into successful business ventures.
It’s a unique initiative that creates opportunity, provides great exposure & visibility, profound mentorship, financial assistance for start-up ideators and companies, and makes their dreams into reality by encompassing the extension of the ‘Make in India’ vision.
Sanjay Mehta is the founding member of Mehta Ventures and 100X.VC. He has invested in over 130 start-ups across sectors including key ventures like Oyo rooms, Box8, FabAlley, Zippr just to name a few. He also has set his firm’s footprints abroad and is a globally recognized personality in the start-up and venture capitalist space.
He is an active member of the Indian Angel Network, Mumbai Angels, B2B 1K Ventures, CIO Angel Network, and Venture Nursery. He prefers working closely with entrepreneurs and innovative pitches attract him and push him to help the deserving founders and their concepts.
Dr Apoorva Ranjan Sharma is the co-founder & president of Venture Catalysts, India’s largest incubator, and early-stage investor. So far, he has established over 12 incubators, invested in approximately 30 start-ups, and has extended his mentorship to over 100 ventures. He has invested in around 30 start-ups including Oyo, Beardo, BharatPe, Innov8.
He is also a Board Member of TiE Mumbai. He is counted amongst the top 10 angel investors in India. He has successfully created a network of 4500 plus angel investors across over 40 cities. He pioneered the launch of the first accelerator fund, Unicorns to continue his search for potential venture concepts and provide them with the requisite assistance.
A graduate in electrical engineering, Dr Sharma is the first-ever student to acquire a PhD in Incubation and is recognized at the global level. Additionally, he also holds a diploma in Mentoring Studies.
Ankita Vashistha is the Founder and CEO of the first venture capital fund for Women Entrepreneurship, Saha Fund. She has mentored over 1000 start-ups at the global level. She was one of the first investors in key ventures including Luxola (Sephora), InstaHealth (Practo), MySpaces out of the lot. Carrying forward her aim to mentor and support aspiring entrepreneurs, she launched a global foundation, MyStepUp Entrepreneurship, and Innovation Foundation, to support innovation and entrepreneurship in diversity.
She has 14 years’ experience at the global level and across sectors including An active advisor and mentor, she is also a part of the global angel network including Indian Angel Network along with other incubator and accelerator groups. Meanwhile, she also contributes to social causes and promotes gender equality and women empowerment. She was also awarded as the Leading women fund manager and Top 10 Asian in Finance at the global level. Ankita is also an author and co-authored her book, Innovation-at-Scale.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
Meet advocate, activist Sadik Naduthodiperson, always ready for weaker section of society
Malappuram (Kerela) [India], March 3 (ANI/PNN): Have you ever wondered how come a person becomes an activist or whom to call an activist? Sadik Naduthodi is not only an advocate but also an activist who is continuously contributing to work for the weaker section of the society.
There are many incidents and steps taken by Sadik Naduthodi, that make him a person living for humanity.
Naduthodi is prominent amongst people due to his approach towards pro bono cases for the poor and the marginalised and weaker section of the society. Born in the Malappuram district of Kerala in 1969, he had a keen interest in social works and activities since childhood. He became an advocate in 1994.
He has held many positions in different organizations and played a key role too. He was the secretary of Pattarkadavu Nehru Yuva Kendra, facilitating a lot of charity and welfare activities. Not only this, Naduthodi also served as the chief patron of art and culture organisation – “Kasava” and had a leadership role in organising ‘Thilakkam 2017″.
Currently, he is a social entrepreneur and mainly focuses on helping poor students with textbooks and school materials. He also sponsors and encourages youth by identifying their talent in the field of art and sports.
Earlier, Sadik was the president of the NCHRO- a human rights facilitation committee in Malappuram. He actively intervened for human rights issues in the state of Kerala and never stepped back from taking a stand for the marginalised sections of the society, always defending those who deserved justice.
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
Frost & Sullivan honours Hughes India with Company of the Year Award
New Delhi [India], March 3 (ANI/BusinessWire India): Hughes Communications India Private Limited (‘Hughes India’) has been named 2020 Indian VSAT Service Provider Company of the Year by Frost & Sullivan.
Recognized for exemplary contribution to providing high-speed connectivity to enterprises and government verticals with its best use of VSAT technology and solutions, Hughes India is a majority-owned subsidiary of Hughes Network Systems, LLC (HUGHES), an innovator in satellite and multi-transport technologies and networks for 50 years.
Commenting on the occasion, Partho Banerjee, President and Managing Director, Hughes Communications India said: “The wide-scale impact of the pandemic has highlighted how essential satellite connectivity is to healthcare, the economy and society in general.
Hughes is optimistic about the possibilities that satellite internet holds for the Indian market and we continue to work towards building new ways to cost-effectively provide large-scale internet services bringing High Throughput Satellite (HTS) connectivity to rural and other hard-to-serve areas across India. We’re delighted by the recognition from Frost & Sullivan, as it underscores our commitment and motivates us to continue innovating solutions that address the growing requirements for better and more reliable connectivity.”
Congratulating Hughes India for the recognition, Kapil Baghel, Senior Consulting Analyst – ICT, Frost and Sullivan said: “Hughes India has truly been a market leader and has created tremendous value in the ICT space, looking at innovative new approaches to build and expand the scope of services in the satellite communications business. We are pleased to be able to recognize Hughes for providing high-quality VSAT solutions to multiple application areas, gradually transforming the Indian satellite services sector to reach unprecedented heights.”
The Frost & Sullivan report notes the breadth of industries served by Hughes VSAT solutions and HughesON™ managed network services, including banking, defence, telecom, education, and retail. It also calls attention to the company being the first in India to obtain a flight and maritime connectivity license to provide high-speed satellite connectivity on land, air, and sea.
Furthermore, Frost & Sullivan notes that Hughes supports various government initiatives and public-private partnership opportunities to provide remote voice and broadband connectivity throughout India and aims to bring its world-class satellite internet service, HughesNet®, to the country soon.
The Frost & Sullivan Best Practices Awards have recognized exemplary achievements within a multitude of industries and functional disciplines for the last 19 years. Frost & Sullivan’s India ICT Awards contenders were judged on a variety of parameters including revenue, market share, new products, and applications, and demonstrable technological, management, strategy, sales innovation, and leadership.
Frost & Sullivan conducts best practices research to recognize best-in-class products, companies, and individuals for their exceptional performance in areas such as technological innovation, customer service, and strategic product development.
The winners were recognized for demonstrating breakthrough best practices and setting global benchmarks for technologies expected to catalyze and transform industries.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
Steel exports to remain low due to rising domestic demand: Ind-Ra
Mumbai (Maharashtra) [India], Mar 3 (ANI): Steel exports from India are likely to remain low over the balance of fourth quarter (4Q FY21) due to continuing strong domestic demand and robust realisations, India Ratings and Research (Ind-Ra) said on Wednesday.
Finished steel exports in January totalled 0.58 million tonnes, down 6 per cent month-on-month and 16 per cent year-on-year with producers focusing on domestic sales.
During the lockdown period, export volumes were at 8.84 million tonnes, up 23 per cent year-on-year. Conversely, finished steel imports were higher by 2 per cent month-on-month and 8.3 per cent year-on-year at 0.52 million tonnes in January.
“The reduction in import duties to 7.5 per cent from 10 to 12.5 per cent earlier on all semi- and finished-alloy and non-alloy steel products should have a stabilising impact on domestic supplies and steel prices in the near term,” said Ind-Ra in its latest credit digest.
India’s finished steel imports over April 2020 to January 2021 were at 3.79 million tonnes, 37 per cent lower year-on-year due to Covid-19 led disruptions.
“However, there is unlikely to be any spurt in imports due to domestic prices being at a discount to Chinese prices and China having limited steel surplus,” said Ind-Ra.
China’s crude steel output in January is estimated to be at 90.2 million tonnes, about 1.15 per cent lower month on month but still largely on par with 2020 levels.
But India’s crude steel output in January was at 10 million tonnes, about 2 per cent higher month-on-month and 7 per cent year-on- year. (ANI)
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