Singapore, Feb 18 (ANI): Fitch Ratings on Thursday upgraded Jubilant Pharma Ltd’s (JPL’s) long-term foreign currency issuer default rating to BB from BB-minus.
It affirmed its senior unsecured rating and rating on senior unsecured notes at BB. The outlook is stable. The IDR has been removed from rating watch positive, on which it was placed on November 12, 2019.
The upgrade follows completion of demerger of life science ingredient business of its parent Jubilant Pharmova Ltd (earlier known as Jubilant Life Sciences Ltd) into a separate entity, and transfer of debt and cash.
Fitch said the upgrade reflects improvement in business profile, which will outweigh a slight loss of diversification.
JPL’s limited dependence on generic formulations and favourable market position in speciality pharmaceutical-focused segments along with a strong financial profile continue to underpin its credit profile.
Fitch said this is despite the company’s small size and high degree of regulatory risk arising from limited production facility diversification. (ANI)
The Daily Guardian is now on Telegram. Click here to join our channel (@thedailyguardian) and stay updated with the latest headlines.
For the latest news Download The Daily Guardian App.
Hybrid event platforms can be the next trend in 2021 to organise virtual events
Chennai (Tamil Nadu) [India], February 26 (ANI/NewsVoir): A leading hyper-automation services company based out of Chennai, Vuram builds ‘EventHall’, a one-of-a-kind platform to host its annual company event: Vuram Day.
Almost 700 people, including Vuram’s employees (or Vuramites as they are called), their family members, and customers participated in the event. Along with live and recorded sessions, the platform had games, stalls, workshops, and live and on-demand performances.
Before the pandemic, Vuram Day happened for two days at several locations within India. During the physical event, Vuramites and their families used to stay together and celebrate the event. Every minute detail from placing goodies in the hotel room to scheduling the agenda used to be taken care of by the organisation. Due to the pandemic, Vuram decided to conduct the event virtually.
Vuram arrived at the idea to build ‘EventHall’ after checking several platforms available in the market for organising virtual events. Vuram did not find a platform with features necessary to simulate the physical event (Vuram Day) that used to happen before the pandemic. Hence, Vuram decided to adopt an agile and user-centered design approach to build a highly-customisable platform and successfully built EventHall within a month.
EventHall has cloud-based API-driven architecture integrating webinars or meeting platforms that can be customised to match the theme of the event, video streaming services for live sessions, on-demand videos for sessions/performances, email and SMS services to share updates/event notifications, web-based games with leaderboards, and chat. It also provides insights into post-event analytics on the number of users logged in, numbers of user activities in different sections, and demography of the users logged in. EventHall comes with customisable features and options to choose the required modules.
“Vuram Day is a celebration of our growth together. It is an opportunity for us to be reminded of all the commitment and passion that each one of us pours into our everyday work. It is a day for us to be thankful for the wonderful team we work with every day, for the value systems of Vuram, for the unconditional support we receive every single day from our friends and most importantly our family. What traditionally is a 2-day event of festivities with our families – was done virtually this year – and with the same level of excitement, enthusiasm and memorable moments. We celebrated the day-long event on our homegrown platform: EventHall. The platform was yet another demonstration of the sheer determination and creativity of our people. Put together in record time, the platform catered to a wide variety of requirements, keeping the priority and focus on maximizing interactions and engagement,” said Venkatesh Ramarathinam, CEO, Vuram.
Such a hybrid event platform creates a win-win situation for event organizers and people who want to attend events. By the time the pandemic ends, people will be used to virtual events. EventHall is designed for a rich experience despite being virtual. Such a platform could change the way people can experience virtual events.
Vuram is committed to delivering 100 per cent customer success with its intelligent low-code automation services and solutions. Founded in 2011 with the dream of creating the happiest and nourishing workplace, Vuram is a place where passionate hearts and creative minds come together to redefine services and provide ingenious solutions.
Vuram empowers enterprises to seamlessly enable digital transformation, business predictability and sustainability through its cutting-edge technology suite encompassing Process Mining, Process Re-engineering and Implementation, Robotic Process Automation (RPA), Artificial Intelligence (AI) and Business Intelligence (BI).
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
Hitachi ABB Power Grids posts Q4 revenue at Rs 1,044 crore
Bengaluru (Karnataka) [India], February 26 (ANI): Hitachi ABB Power Grids in India said on Friday its Q4 revenue inched closer to pre-pandemic levels, ending 7.5 per cent lower year-on-year but rising 10.3 per cent quarter-on-quarter to Rs 1,044 crore.
This was bolstered by solid cash collection while persistent focus on strategic cash management including cash-over-revenue and accelerated use of remote management and digital solutions helped maintain liquidity.
Operational earnings before interest, taxes and amortiation (EBITA) after exceptional items reached Rs 66 crore in the fourth quarter, resulting in an operational EBITA margin of 6.3 per cent.
Profit before tax before exceptional items totalled Rs 46 crore. Relentless pursuit resulted in the realisation of Rs 32.4 crore of old receivables. This bolstered profit after tax to Rs 55 crore for the Q4 FY21.
The board of directors has recommended a dividend of Rs 2 per share (100 per cent),
Managing Director N Venu said opportunities in renewable integration, digitalisation of power networks and sustainable transport solutions like rail and metro helped the company deliver a robust performance in an unprecedented year impacted by Covid-19 pandemic.
“Fundamental growth drivers remain intact and we hope to grow faster than the market once the economic revival gathers pace,” he said.
Switzerland-based Hitachi ABB Power Grids is a global technology leader with a combined heritage of almost 250 years, employing around 36,000 people in 90 countries.
The business serves utility, industry and infrastructure customers across the value chain and emerging areas like sustainable mobility, smart cities, energy storage and data centres. (ANI)
Global container shipping rates high but unsustainable: Fitch
London [UK], February 26 (ANI): Global container shipping companies’ performance will be strong in 2021 after a profitable 2020, according to Fitch Ratings.
Spot freight rates will remain high in the short term which will flow through to contracted rates for 2021. However, Fitch said the current rates are unsustainable in the medium term as the sector is susceptible to rate volatility and risks of weak economic recovery and trade protectionism, requiring constant prudent capacity management.
A combination of rebounding demand for goods in 2H 2020, supply chain disruptions — like container box shortages and port congestion — and more strategic capacity management drove container freight rates up, especially on the routes from China to Europe and the United States.
Shipping one 40-foot container from China to Europe or the US West Coast now costs over 8,000 dollars and 4,000 dollars respectively from well below 2,000 dollars a year ago.
Trade volume recovery was fuelled by a change in consumer spending habits during the pandemic — ordering more manufactured goods while saving by spending less on services like leisure and restaurants. It was further supported by inventory re-stocking by businesses that faced acute supply chain disruptions and increased demand for personal protective equipment.
Total volumes shipped from Asia to North America exceeded 2019 levels by over 7 per cent in 2020. A decline in volumes on the Asia Europe route by about 5 per cent in 2020 indicates a growth potential in 2021 as demand recovers.
Container box shortages and port congestions due to pandemic-related operational disruptions have extended container ships’ turnaround times, further increasing freight rates. A usually quiet period during the Chinese New Year could have eased some congestion but demand remained strong as China maintained its production levels.
Fitch said the ongoing virus outbreaks in many regions and mobility restrictions are likely to keep freight rates abnormally high in the short term. These higher-than-usual spot rates will translate into higher contract freight rates in the ongoing spring contracting season.
“However, we view rate volatility as an inherent sector risk and we expect rates to reduce once supply disruptions related to the pandemic are addressed.”
Although container shipping companies performed strongly during the pandemic, Fitch said the current shipping rates are unsustainable and expect them to moderate in the medium term once supply chain disruptions ease as the industry is highly competitive.
The sector remains subject to risks of geopolitical tensions and trade protectionism, uncertainty about economic recovery paths in different regions, as well as ESG-driven initiatives like IMO 2020 and other emission regulations. (ANI)
Masterpiece for the purist: The new BMW R nineT and BMW R nineT Scrambler launched in India
Gurugram (Haryana) [India], February 26 (ANI/BusinessWire India): BMW Motorrad India has launched the new BMW R nineT and BMW R nineT Scrambler in India. Available as completely built-up units (CBU), the motorcycles can be booked at all BMW Motorrad India dealerships from today onwards.
“The new BMW R nineT and the new BMW R nineT Scrambler are an expression of a timeless motorcycling culture that celebrates pure riding, sportiness and yet absolutely stands apart in its design and appeal. Deriving its charm from the past, it delivers ultimate riding pleasure of today. We are delighted to add yet another exciting new facet to the BMW Motorrad heritage world of experience in India, one that inspires nostalgia among enthusiasts to this day,” said Vikram Pawah, President BMW Group India.
The new BMW R nineT is a classic roadster that embodies the passion and innovation of over 90 years of motorcycle design, with high-quality materials and careful workmanship in the smallest details. Its iconic boxer engine now blends in even better with the original proportions and unleashes power over the asphalt with its improved torque curve.
The new BMW R nineT Scrambler revives the Scrambler era in a very special way. It has everything that defines this motorcycle type, filled with a very distinct spirit. It is created for motorcycle fans who love things that are purist, reduced to the essentials and non-conformist combined with the technology and quality of a BMW.
The ex-showroom prices are as follows –
The new BMW R nineT- Rs 18,50,000
The new BMW R nineT Scrambler- Rs 16,75,000
Prices prevailing at the time of invoicing will be applicable. Delivery will be made ex-showroom. Ex-showroom price (inclusive of GST and compensation cess) as applicable but excludes Road Tax, RTO statutory taxes/fees, other local tax/cess levies and insurance. Prices and options are subject to change without prior notice. For further information, please contact your local authorized BMW Motorrad Dealer.
The new BMW R nineT will be available in the following colors: Blackstorm Metallic/Brushed Aluminium, Option 719 Aluminium, Mineral White Metallic/Aurum and Night Black Matt/Aluminium Matt.
The new BMW R nineT Scrambler will be available in the following colors: Granite Gray Metallic, Cosmic Blue Metallic/Light White, Black Storm Metallic/Racing Red and Kalamata Metallic Matt
The new BMW R nineT and BMW R nineT Scrambler will be sold and serviced through the premium dealer network of BMW Motorrad that is present across important centres in India including Delhi (Lutyens Motorrad), Mumbai (Navnit Motors), Pune (Bavaria Motors), Chennai (KUN Motorrad), Bengaluru (Tusker Motorrad), Ahmedabad (Gallops Autohaus), Kochi (EVM Autokraft), Hyderabad (JSP Motorrad), Indore (Munich Motors), Lucknow (Speed Motors), Chandigarh (Krishna Automobiles), Jaipur (Pratap Motorrad), Raipur (Mandhan Motors), Cuttack (OSL Prestige) and Ranchi (Titanium Autos).
For complete peace of mind, BMW Motorrad bikes come with a standard warranty for ‘three years, unlimited kilometers. The warranty can be extended to fourth and fifth year at an additional cost. Road Side Assistance, a 24×7 365 days package further ensures prompt services in case of breakdown and towing situations.
An exclusive range of accessories and lifestyle merchandise for the new BMW R nineT and BMW R nineT Scrambler can be purchased from BMW Motorrad dealerships.
The new BMW R nineT and BMW R nineT Scrambler.
The design of the new BMW R nineT models follows the principle of reduction to the essentials. This classic approach used in designing the R nineT models unmistakably takes inspiration from motorsports heritage.
The classic appearance is complemented by the newly designed circular instrument with analogue speedometer display and integrated indicator lights, housed in a high-quality metal casing and bearing the BMW logo. The models now have state-of-the-art LED headlamp including daytime running light.
The BMW R nineT and BMW R nineT Scrambler enthrall riders with an unmistakable and authentic design, powerful torque and unique, throaty sound. They have a powerful 1,170 cc air/oil-cooled 2-cylinder four-stroke engine with DOHC cylinder head, four valves and two camshafts and shaft drive. With an output of 109 Hp at 7,520 rpm and a maximum torque of 119 Nm at 6,000 rpm, the engine is an ideal partner for dynamic riding pleasure. The motorcycles accelerate from 0 – 100 km/hr in just 3.5 seconds and achieve a top speed of 200 km/hr.
The motorcycles feature two standard riding modes – ‘Rain’ and ‘Road’ to suit individual rider preferences. In ‘Rain’ mode, a gentle throttle response combined with sensitive control of the Automatic Stability Control (ASC) ensures increased safety when accelerating in slippery road conditions such as on a wet road surface. In the ‘Road’ riding mode, the throttle response is balanced, and ASC control is geared towards dry and non-slip road conditions.
Secure deceleration is ensured by 4-piston brake calipers at the front, along with floating ABS Pro including Dynamic Brake Control (DBC) and a new suspension strut with travel-dependent damping (WAD) now comes as standard. ABS Pro in combination with DBC increases safety when braking – at banking angles as well as in difficult situations. Standard features also include a new shock absorber with WAD, providing enhanced suspension comfort and convenient adjustment of the spring preload via a hand wheel.
To View the Specification Sheets Click on the Links Below:
BMW R nineT Specification Sheet- https://cms.businesswireindia.com/Uploads/news-multimedia/documents/BMWRnineTSpecificationSheet_71755.pdf
BMW R nineT Scrambler Specification Sheet- https://cms.businesswireindia.com/Uploads/news-multimedia/documents/BMWRnineTScramblerSpecificationSheet_71755.pdf
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
Sunrise Technical Education Promotional Society bags ASSOCHAM 14th National Education Award 2021
New Delhi [India], February 26 (ANI/BusinessWire India): ASSOCHAM, a 100-year-old leading, largest and Apex Chamber of Commerce and Industry of India. It initiated its endeavour of value creation for Indian industry in 1920.
Having in its fold more than 250 Chambers and Trade Associations, and serving more than 4,50,000 members from all over India. It has witnessed upswings as well as upheavals of Indian Economy, and contributed significantly by playing a catalytic role in shaping up the Trade, Commerce and Industrial environment of the country.
Today, ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the technology-driven cyber age of ‘Knowledge Based Economy’. ASSOCHAM is seen as a forceful, proactive, forward-looking institution equipping itself to meet the aspirations of the Indian Education Sector to make the Indian Institutions compete globally. Prime Minister Narendra Modi delivered the keynote address at ASSOCHAM Foundation Week 2020.
Addressing the gathering the Prime Minister commended the business community for their contribution to nation-building. The prime minister said that now the industry has complete freedom to touch the sky and urged them to take full advantage of it, put their full strength in the coming years for a self-reliant India.
The New Education Policy 2020 has already instilled a lot of hopes among all stakeholders in the education sector for a turnaround. The academic organization and the industries must work in a mission mode to revamp the educational architecture in tune with the requirements of the 21st Century to make India a leading nation in the field of education.
In the light of above, ASSOCHAM Education Council had organized a Summit (virtual) from 18-20th February 2021. The Summit was inaugurated by honorable HRD Minister – Shri Ramesh Pokhriyal “Nishank”. The Summit was attended by Senior Educationists, Chancellors, Vice-Chancellors, Principals, Deans, Directors and Promoters of many Government and Private Universities, Institutions, Colleges, Edtech startups and Students from across the Nation.
The ASSOCHAM 14th National Education Summit nurtured an atmosphere of excellence and quality in the institutions that groom future leaders and felicitated those who had significantly contributed for society in terms of Education. The winners were felicitated by Vinay Prabhakar Sahasrabuddhe, Member of Parliament of India. He is also serving as National Vice President of Bharatiya Janata Party. A renowned political scholar, Sahasrabuddhe is currently the President of the Indian Council for Cultural Relations by the President of India.
Sunrise Technical Education Promotional Society (STEPS) was awarded as “Excellence in Promoting Education for Social Cause”. Dr Nameesh Miglani, General Secretary – Sunrise Technical Education Promotional Society received the award on behalf of the Society.
Dr Miglani while receiving the coveted award reiterated that the accreditation process under the NEP shall be a blessing in disguise for promoting healthy competition amongst HEIs, open flood gates for national and international upgradation of quality education, ensure opening of foreign campuses, and above all, pave the way for India’s Atamnirbhar on several fronts.
In order to assist and guide the vast network of HEIs in holistic quality improvements, a group of educationists and researchers pooled their expertise and resources and formed Sunrise Technical Education Promotional Society (STEPS) in 2004. The No profit no loss Society is registered under Societies Registration Act. Having impanelled principal consultants, senior consultants and consultants from a host of reputed government institutions, departments, universities and industry.
STEPS provide mentorship to beneficiaries in matters:
* Curricular development
* Establishing new institutions
* Faculty development programs
* Research and development
* Accreditations and Ranking etc.
It has been deputing its expert teams to conduct SWOC analysis and groom the faculty to create an in-house facility for periodic analysis. One of its core strengths is in the field of curricular development in the formulation, execution and review of PEOs, Cos and PO attainments through different rubric methods. It has also been actively engaged in conducting FDPs and Workshops for the faculty in vast domains such as quality sensitization, pedagogical training, and outcome-based education etc. As regard R&D, it facilitates in organizing workshops to inculcate research culture, patent development and RIFD projects.
STEPs also mentors in the accreditation process by providing inputs in foolproof preparation of documents, reducing gaps to achieve comfortable scores and faculty training to face real-time peer team visit. Another inherent strength of the Society lies in assisting potential institutions to establish new institutes by guiding and assisting them in formation of society/trust/company thereby strictly complying with regulatory requirements. During last 16 years, there has been phenomenal progress of society.
STEPS presence is visible in more than 16 States. It has mentored more than 170 institutes in the accreditation process. It has facilitated in the formation of five new universities and 21 institutions. Besides, it has conducted more than 220 FDPs and workshops to about 25000 world-class faculty for competing onslaught of the market economy. To conclude, STEPs is committed in its mission of upholding quality enhancement standards and in turn has received greater acceptability and indelible impression of quality assurance from HEIs.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
Hindustan Times Media Ventures buys minority stake as part of strategic investment in podcast company Hubhopper
New Delhi [India], February 26 (ANI/Hubhopper): Delhi-based podcast hosting, creation and distribution company Hubhopper has raised an undisclosed amount as strategic investment from Hindustan Times Media Ventures.
Earlier, Hubhopper had raised over USD 500k across several rounds of investment from angel investors and institutional investors, including ITI Growth Opportunities Fund, Unit-E Ventures, and more.
Hubhopper will use the funds to continue growing the podcast ecosystem in India by democratising and empowering Indian creators with tools and technologies to create, host, launch, distribute, analyze and monetize their podcasts and audio content.
Further, they will continue to grow their products and podcast distribution network of over 50 plus partners and integrations — currently including the likes of Samsung, Spotify, Gaana, Wynk, Paytm, PhonePe, Karbonn, Indus OS, and more.
The deal comes at a time when tech and media giants, both in India and globally, are doubling down to own a piece of India’s rapidly growing podcast market. Just earlier in November 2020, Tencent backed Pratilipi had acquired podcast firm IVM Podcasts — moving towards the consolidation of the podcast space in India, a first of many moves and alliances to come.
Globally, this alliance comes at a time of incredible fervour and activity across the podcast landscape that has been witnessed over the past 18 months, with events including audio streaming giant Spotify acquiring a host of podcast houses and platforms, including Gimlet Media, Parcast, Megaphone, and Anchor.
On the other hand, Amazon has placed its bets in the podcast market by purchasing 4-year-old podcast network Wondery and Sirius XM has spent hundreds of millions of dollars to buy podcasting companies Stitcher and Simplecast. Most recently social media giant Twitter has entered the fray, acquiring podcast platform Breaker.
“Audio is an incredibly special medium. It’s more language, literacy and capital agnostic than its contemporaries and has a special place in the hearts and lives Indian people. Hubhopper’s endeavor along with HT is to continue to champion this community and democratise podcasting for all. We have only scratched the tip of this ice-berg,” said Gautam Raj Anand – Founder, Hubhopper.
“Hubhopper has always endeavored to make audio creation and consumption accessible through robust and innovative technology platforms. This strategic partnership between HT Media and Hubhopper marks a turning point in the development of India’s podcast landscape. We look forward to together bringing this incredible medium of digital audio to every creator and consumer in India,” said Nishant Kumar – Head of Partnerships, Hubhopper.
This story is provided by Hubhopper. ANI will not be responsible in any way for the content of this article. (ANI/ Hubhopper)
Opinion4 months ago
South Block’s mistakes will now be corrected by Army
Sports7 months ago
When a bodybuilder breaks Shoaib’s record
News10 months ago
PM Modi must take governance back from babus
News8 months ago
Chinese general ordered attack on Indian troops: US intel report
Sports7 months ago
West Indies avoid follow-on, England increase lead to 219
News7 months ago
Things don’t add up in Sushant’s suicide: Swamy
Defence8 months ago
GALWAN: CHINA’S INFORMATION WAR
Defence5 months ago
Sino-Indian logjam: Facts, risks, options and the sum of all fears