Mumbai (Maharashtra) [India], February 18 (ANI/NewsVoir): BSE and NSE listed Construction giant, Generic Engineering Construction and Projects Ltd. (539407), w.e.f. 16th February 2021 amidst a select gathering got listed on The National Stock Exchange (NSE) with bell ringing ceremony.
Listing on NSE will benefit the company as it will lead to increased liquidity and trade volumes. . The company has recently bagged new work orders from various institutional projects and various leading international and Indian Corporates. With receipt of above, the total current outstanding order book as on December 2020 stands at Rs 1166.41 Crore.
The company’s credit rating was upgraded from BBB-Stable to BBB Stable by Care Ratings and is sustained maintaining the same in this difficult COVID-19 phase.
On the receipt of the orders, Manish Patel, Managing Director said, “We are delighted with our new work order wins, especially as it comes at a time when the entire construction and real estate sector are passing through very challenging times. We are gradually scaling up our execution, post the graded lifting of lockdown. We expect the work to normalize in second half of this fiscal year. At the same time, to mitigate the issue of shortage of manpower, the company has started bidding for projects in the northern states of India, where the majority of labourers have migrated. We are also aggressively bidding for new projects, especially in the public sector, to build a robust order book, so that we can make up for the revenue lost during the lockdown, in the coming quarters.
Currently, for the company its residential segment (legacy business) contributes about 59.47 per cent, Residential (Govt and Semi Govt) includes 17.76 per cent of the revenue, commercial and industrial segment constitutes 9.19 per cent of revenue, special and Educational projects contribute the 9.01 per cent, while health and leisure contributes the remaining i.e. 4.57 per cent.
Most of our clients have provided the necessary extension in timelines for the completion of projects under construction. Also, major part of our order book constitutes of non-residential projects like warehousing, cold storages, factories, etc. which have not been significantly impacted by the pandemic. Importantly, one of our major residential projects, includes the construction of staff quarters for Maharashtra State Police Housing and Welfare Corporation Limited, which is for self-consumption. Despite the pandemic, the business opportunities in our operating region of MMR have remained promising and we expect the momentum of order inflow, especially in industrial, infrastructure and other sectors to continue. It is our continuous endeavour to add orders from existing and new clients, both in public and private sector and we are confident on further consolidating our order book.”
Generic Engineering Construction and Projects Limited is engaged in the construction of residential, industrial, commercial and Institutional buildings with presence in Navi Mumbai and Mumbai Metropolitan Region (MMR). Generic offers general contracting, design-build; engineering, procurement and construction (EPC); and project management consultancy (PMC) services. Generic is hopeful and working hard on clocking the turnover to Rs 400 Crore plus PAT of approx 30 crores with a lower Debt Equity Ratio by FY 21-22.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
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Ahmedabad based Jhanwi Creative Studio makes India proud by winning the coveted International AFNS Photography Award
Ahmedabad (Gujarat) [India], February 27 (ANI/India PR Distribution): Jhanwi Creative Studio, an Ahmedabad-based photo studio has made India proud on the international photography platform by winning the renowned AFNS Award.
The AFNS AWARD is an international competition for photographers in the field of Newborn Photography & Maternity Photography.
We draw on photographers who convey a high level of quality and exceptionalness with their pictures. The idea, composition, image design, and implementation are evaluated by an international expert jury. The award is divided into the following 7 categories: maternity, newborns, parents, babies, children, siblings, birth.
The 2021 results have just been released and Indian photographers from Jhanwi creative studio have been named the winner of the newborn photography category, out of thousands of entries from 18 countries.
Jhanwi creative studio has made India proud by winning the acclaimed AFNS photography award for newborn photography. AFNS awards are an internationally organized photography contest. This year photographers from more than 18 countries have participated in the event.
The studio is run by young talents 23-year-old Rudra Jani and 21-year-old Meshwani Chavda. Despite their youth and less experience, they are adept at sensing and delivering on the needs of their clients as well as arranging some of the most beautiful and poignant pictures of new mothers and their babies.
The studio has achieved much since its inception. It completed more than 250 sessions within the first six months of its inception and has bagged an award by the international contest called AFNS Awards. The two talented duos who run the company believe in the value of hard work and struggle to meet the lofty goals that inspire them.
Meshwani Chavda is adept at creating adorable settings for babies. In collaboration with Rudra Jani, who is a highly talented photographer, they are able to create magical photographs. Jhanwi Creative Studio helps capture adorable photographs of babies and their mothers, which will endure as long-lasting memories for a client.
The studio is racing ahead, thanks to the efforts of its creative leaders. RudraJani is based in Mehsana and is pursuing qualifications in VFX and Animation from eQuinoxx. He started this business with his own efforts and has been steadfast for the past 3 years.
Just graduated from Gujarat University, Meshwani Chavda lives in Ahmedabad and is passionate about photographing babies. She manages the entire process of photographing right from the beginning to the end in the studio. Her ambition is to carry her business to abroad, along with continuing her higher studies. RupeshGohil is a senior editor of Jhanwi Creative Studio.
More details on Jhanwi Creative Studio can be found on their Instagram and Facebook handle:-
This story is provided by India PR Distribution. ANI will not be responsible in any way for the content of this article. (ANI/India PR Distribution)
Need to promote decent and sustainable work in automotive industry: ILO
Geneva [Switzerland], February 27 (ANI): Governments and organisation of workers and employers from around the world have agreed that there is an urgent need to invest in education, training and life-long learning for all in the automotive industry.
“The industry is going through an unprecedented change amid great challenges,” said Chairperson of a virtual ILO meeting Erika Gabriela Martinez Lievano.
“Our industry can contribute to green growth and decent work opportunities for more women and men, through a just transition in which we create an enabling environment for sustainable enterprises to grow and we promote and protect workers’ rights,” she said.
The Covid-19 crisis has placed massive economic strains on the industry and its workers. It has compounded existing challenges like supply chain disruption, factory closures and a collapse in demand.
“The automotive industry has been severely disrupted by the Covid-19 pandemic, putting at risk the survival of enterprises. It will take years for the industry to return to pre-crisis levels of production and sales,” said the Employer vice-chairperson Sawsen Ayari Pouliquen.
“There is an urgent need to build back an enabling business environment, stimulate aggregate demand and prepare to meet future skills needs of the industry going forward,” she said.
The ILO’s centenary Declaration for the Future of Work (2019) and its human-centred approach provides a roadmap for shaping a future that works for all in the automotive industry and ensure that no one is left behind.
“Freedom of association and collective bargaining are more important than ever,” said the Worker Vice-chairperson Ben Mathew Norman.
“These rights enable the effective social dialogue that is needed to face an increasingly uncertain future in the automotive industry and to assure that transformations in the industry are socially and environmentally just,” he said.
The meeting adopted conclusions that give governments, workers and employers a strong mandate to invest in people’s capabilities and a just transition to decent and sustainable work.
“The adoption of these ambitious conclusions is timely and propitious,” said the Government Vice-chairperson Therese Boutsen.
“They clearly reflect that governments, employers and workers refuse to be passive victims of circumstances or megatrends and that they are ready to jointly shape a brighter future of work for more women and men in the automotive industry.” (ANI)
Come explore global business opportunities at the grand 3D event ‘Global Buyer Seller Meet’ organised by Being Exporter
Surat (Gujarat), February 27(ANI/PNN): Let the Virtual World redefine your Business Culture. Being Exporter in association with Association of Global Merchants is here with – ‘Global Buyer Seller Meet.’ This International Virtual Exhibition is happening on February 26, 27, and 28, 2021.
It is a 360 degree and 3D platform for buyers and sellers across the world to meet, interact and discover global business opportunities. It has been organized with the goal to generate more and more businesses for people in India to help alleviate their business brands on a big global platform and export effectively.
This grand international virtual event creates a new look for promoting the ‘Make In India’ campaign. This is one of the best events showcasing our local talent on a global online platform, thus supporting the ‘Vocal for Local’ concept in India.
Also, this shows that we believe in ‘Atma Nirbhar Bharat’ and are duly promoting this ideology. If you see the exteriors we have put our Prime Minister’s image which exhibits our strong belief and support to all three ideologies as proposed by Narendra Modiji.
This time we have created a very extraordinary event by starting a unique initiative. We Have collaborated with the Association with Global Merchants and have invited important dignitaries from across the globe. Our special guest invitees include Francesco Mirizzi, Kezy Mukiri, and Scarlett Hoffmann from Europe, Africa, and South America respectively.
We even have core committee members of Global Merchants who will be our special guests – Yadav Ashwani Bishkarma, Brijesh Kumar Akoliya, and Akash Sanjay Agrawal. This will give a lot of scope for exploring global business opportunities between India and other countries.
With the belief that ‘export is easy,’ the Man of Exports is introducing one of the biggest and the largest 3D exhibitions happening in India. ‘Global Buyer Seller Meet, ‘ is one of the most exclusive trade shows with a buyer’s presence from across 100+ countries. Mr. Bhagirath Goswami, founder of Being Exporter has been causing abundant exports and creating exporters in the country.
Due to his passion and dedication in the field of exports, he has been named the ‘Man of Exports’ by many entrepreneurs. In order to promote Indian exports, Bhagirath helps people from all walks of life to export their consignments.
Towards this cause, he organizes many global events and exhibitions. This time Bhagirath is coming with a unique kind of initiative for the exporters.
It is the most exclusive trade show cum international buyer-seller meet where visitors from 100 plus countries will visit the online platform. The exhibition covers various commodities like agricultural products, textiles, chemicals, furniture, food, machinery, jewelry, kitchen appliances, and much more.
The whole idea behind the ‘Global Buyer Seller Meet is to connect buyers from different countries to sellers who have been in their business for a long.
The exhibition will also give buyers access to information like products, websites, presentations, chatting options, and also direct video calling. The interesting part about this exhibition is that there are going to be many seminars, panel discussions, and other events scheduled to run alongside the stalls. They also have an entertainment zone with live band performances and art shows.
If you are interested to explore the international market, then you can do so by simply booking your stall in the exhibition. As a seller, this will be the best opportunity for you to showcase your products, and meet thousands of buyers coming from different countries around the world. This will in turn generate leads and increase your exports and take your business to the next level.
Come be a part of the Global Buyer Seller Meet. Your chance to meet, network, and explore the export market. This international exhibition is a once-in-a-lifetime opportunity you cannot miss.
For more information: https://globalbuyersellermeet.com/
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
ADB’s AAA rating affirmed, outlook stable
Singapore, February 27 (ANI): S&P Global Ratings has affirmed AAA long-term and A-1 plus short-term issuer credit ratings on Asian Development Bank (ADB).
The ratings on ADB reflect S&P’s assessment of the bank’s extremely strong enterprise and financial risk profiles. The ratings do not incorporate extraordinary shareholder support from ADB’s callable capital because S&P assesses the bank’s capital adequacy to be in its highest category without this support.
The Covid-19 pandemic has strengthened ADB’s role as a counter-cyclical lender. In response to the pandemic, the bank announced a 20 billion dollar financing package in April 2020, which includes a 13 billion dollar Covid-19 pandemic response option under its countercyclical support facility.
In addition, ADB unveiled a new 9 billion dollar vaccine facility in December 2020 to support the purchase and delivery of vaccines in Asia Pacific region.
In terms of the size of purpose-related exposures, the bank is the fourth-largest multilateral institution after the European Investment Bank, the International Bank for Reconstruction and Development and the International Development Association.
S&P said ADB’s important role and unwavering public policy mandate along with strong membership support anchor its assessment of an extremely strong enterprise risk profile.
The bank benefits from the support of its members and a diverse shareholder base. A total of 49 members from Asia Pacific own 63.4 per cent of ADB and 19 non-regional members own the remainder.
While Japan and the United States have always been ADB’s largest shareholders (both own 15.6 per cent), the bank’s shareholder base is diversified with eight governments owning more than 5 per cent of capital each.
These include China (6.4 per cent), India (6.3 per cent), Indonesia (5.4 per cent), Canada (5.2 per cent) and South Korea (5 per cent). Non-borrowing members have about 62 per cent of ADB voting rights, outnumbering borrowing members by two to one. (ANI)
CESL pitches for Delhi government’s shift to electric vehicles
New Delhi [India], Feb 27 (ANI): Convergence Energy Services Ltd (CESL), a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL), has announced support for the Delhi government’s switch to electric vehicles.
The Delhi government has mandated all its departments, autonomous bodies, and grantee institutions to shift their existing fleet of hired conventional fuel vehicles to electric variants within six months.
The Delhi EV Policy 2020 says all departments of the government of NCT of Delhi will have to shift their existing hired petrol, diesel and CNG vehicles to electric vehicles via lease model through Government e-Marketplace (GeM) portal or through EESL.
CESL is a registered body on the e-Marketplace, and provides with ecosystem based services to enable such a system-based conversion.
Mahua Acharya, CEO and Managing Director of CESL, said it is admirable to see the Delhi government take a leadership role in accelerating the adoption of electric mobility.
“Taking a system-wide approach is also exactly the way this should be done, and the Delhi Government has indeed gone this way. This shift will do a lot for residents of the NCT area too, addressing air and noise pollution while simultaneously signalling to the market its seriousness around electric mobility,” she said.
The adoption of electric vehicles in India is being encouraged by the central government with a target to reach 30 per cent by 2030. Nearly 70 per cent of all commercial cars, 30 per cent of private cars, 40 per cent of buses and 80 per cent of two-wheeler and three-wheeler sales will convert to their electric variants.
Delhi has a target of 25 per cent EVs for all new vehicle registrations by 2024.
CESL has taken the lead by deploying 1,500 electric vehicles and over 1,000 charging stations. With the help of the government subsidy, the aim is to reach 10,000 charging stations in three years.
CESL says it will take this effort to the next level by rolling out innovative clean energy-based transport solutions as a whole, not just electric cars. It will invest in solutions that lie at the confluence of renewable energy, electric mobility and climate change. (ANI)
Versatile ZServiceDesk IT GRC at affordable cost launched in India
New Delhi [India], February 27 (ANI.NewsVoir): India is among the top five countries with the greatest number of cyber-attacks, according to The Indian Computer Emergency Response Team (CERT).
The Ministry of Electronics and Information Technology (MeITY) have reported 7 lakh cyber-attacks in commercial and legal entities till August 2020. Hence, dealing with constant barrage of security risks and an ever-growing regulatory compliance landscape is a Challenge for CISOs (Chief Information Security Officers).
Offering a promising solution for the challenge, ZServiceDesk has launched a versatile and affordable Integrated IT GRC, that helps in figuring out the right balance by looking at governance, compliance and risk at the same time. IT GRC with automation capabilities sends alerts and provides intelligent data to security leaders to define actions further to be taken in order to reduce risk surface.
According to a report, most organizations aren’t quantitatively managing their IT risk program, and less than a third (31 percent) review IT risk assessment every quarter. Approximately 15 percent perform this process monthly. In the majority of cases (71 percent), the CISO does not participate in the creation of IT risk program.
As per CISCO Annual Cyber Security Report, 53 per cent of all cyber-attacks led to financial damages of more than USD 500K (including lost revenue, customers, opportunities, and out-of-pocket costs among others) for organisations in 2018.
Hence, implementing IT GRC has become need of the hour not only for IT, banking and financial services, but also for manufacturing, pharmaceutical, retail, hospitality, R&D and IP-based organisations, Regulatory bodies, including government agencies, Commercial research and development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade associations and industry bodies.
Ritika Sahani, Head – Sales and Marketing, ZServiceDesk informed that the high cost of IT GRC integration has been a restraining factor for 97 per cent organizations in India from using the most essential security service. Aiming to make the IT GRC Tool accessible for both Large and Small
Enterprises, we have come up with affordable IT GRC having all broad feature set of higher-priced competitor, almost at one fourth Cost.
Further she added, ZServiceDesk IT GRC, Integrated approach allows CISO to manage the entire lifecycle of Risk management and other relevant components to establish effective governance structure. Organizations can assign the stakeholders, create Defensible Cyberspaces, Create Assets, Assign Risk Levels, Identify Risks, Assess Impact, define mitigation strategies, Apply and Implement Controls, Create relevant Policies, do the vendor risk assessment, create and track audit activities, map with Compliances and Regulatory requirements such as ISO 27001, PCI-DSS, HIPPA etc.
It can also perform data validation and auditing operations in the background. This means your team won’t have to spend time on manual processes and can instead focus on long-range innovations and more impactful projects. It also ensures that the information you’re reviewing is thorough, consolidated, and free of human error.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
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