L&T Dispatches Third Steam Generator for Kaiga Atomic Power Station
Chandigarh, February 07, 2025: The Heavy Engineering arm of Larsen & Toubro (L&T) has achieved yet another milestone by despatching the third Steam Generator (SG), ahead of schedule, for the indigenously developed 10 x 700 Megawatt-electric (MWe) Pressurised Heavy Water Reactor (PHWR) fleet programme.
The despatch ceremony took place at L&T’s A M Naik Heavy Engineering Complex at Hazira, Gujarat, in the presence of Nuclear Power Corporation of India Limited (NPCIL) Director Technical Mr Rajesh V and his team.
The SG is for the Karnataka-based Kaiga Atomic Power Station (KAIGA) Units 5 & 6. L&T had achieved a global benchmark by delivering the first SG in just 33 months.
Mr Anil V Parab, Whole-time Director & Senior Executive Vice President of L&T Heavy Engineering & L&T Valves, appreciated both L&T and NPCIL teams for consistent fast-track deliveries, in line with the Department of Atomic Energy’s (DAE) target to install 22 GWe nuclear power by 2032 and Viksit Bharat vision of 100 GWe by 2047. L&T is committed to deliver 6-8 nos 700 MWe Steam Generators every year and for the success of 220 MWe Bharat Small Reactor (BSR) programme to ensure net-zero carbon emissions by 2070.
The globally benchmarked, state-of-the-art, fully integrated and digitally-enabled A M Naik Heavy Engineering Manufacturing Complex at Hazira continues to produce critical equipment with worldclass quality and speed.
L&T, with its six-decade-long association with NPCIL and the DAE, is committed to contributing to India’s nuclear power capacity in line with Prime Minister Narendra Modi’s vision for an Aatmanirbhar Bharat.
NSE Academy & NISM Launch Joint Certificate Program
Chandigarh, February 7, 2025: NSE Academy Limited (NAL), a wholly owned subsidiary of the National Stock Exchange (NSE), and the National Institute of Securities Markets (NISM) have entered into a strategic partnership to provide joint certificate program designed to improve the skills and knowledge of both students and professionals in the securities and financial markets.
This collaboration between two industry leaders seeks to address the growing demand for quality education for capacity building in BFSI sector in India, equipping individuals and businesses with the necessary tools and expertise to thrive in the dynamic financial ecosystem. The joint certificate program will be designed to cater to a wide spectrum of learners, from beginners seeking foundational knowledge to experienced professionals looking to upgrade their skills. PG Certificate program in Fintech, a weekend program with campus immersion and capstone projects is the first joint program being offered under this collaboration. NAL and NISM will further offer other programs in areas such as Capital Markets, Risk Management, Financial Analysis, and Regulatory Frameworks, among others.
Speaking on the occasion, Director NISM Shri Sashi Krishnan said: “We are delighted to collaborate with NSE Academy to launch the PG Certificate Program in Fintech, a significant step towards bridging the skill gap in the financial sector. This program, carefully curated with specialized modules such as AI, Block chain, Cybersecurity, Generative AI, and Data Analytics, provides a robust foundation for understanding and applying emerging technologies in finance. At NISM, we remain committed to excellence in financial education, and this collaboration marks a transformative milestone in preparing future-ready talent for the financial markets.”
Speaking on the occasion, Registrar NISM Shri Sunil Kadam said: “We are proud to collaborate with NSE Academy to launch the PG Certificate Program in Fintech. This initiative reflects our shared commitment to fostering innovation and building a future-ready workforce for the financial sector. By combining cutting-edge technologies like AI, Block chain, and Cybersecurity with hands-on learning and real-world applications, this program equips participants with the skills needed to excel in the dynamic fintech ecosystem. Together, we aim to empower professionals to lead the transformative changes shaping India’s financial markets.”
Speaking on the occasion, CEO NSE Academy Ltd. Shri Abhilash Misra said: “NSE Academy and NISM have a shared vision of building future ready talent, and this partnership represents a significant advancement in fostering a more knowledgeable and proficient workforce within India’s rapidly evolving BFSI sector. It is a privilege to collaborate with NISM, nation’s premier institution to provide these specialized programs, which will address the skill gap in the markets.”
Mega RISA Guwahati Boosting Investor Awareness & Protection in Assam
Chandigarh, February 7, 2025 – In a significant initiative to promote investor awareness and protect the interest of the investors in the securities market NSE and NSDL under the aegis of SEBI and along with other Market Infrastructure Institutions (MIIs) organized Mega RISA (Regional Investor Seminar for Awareness) in Gauhati Medical College Auditorium, Assam.
The event, titled “Viksit Bharat ka Viksit Niveshak” focused on educating investors about the securities markets, fraud and scam prevention, rights and responsibilities and smart investing practices.
Ms. Aradhana Verma, GM, SEBI graced the event as the Chief Guest.
Assam has been a rising force in India’s investment landscape, with over 24.6 lakh registered investors. 29.8% of investors registered in Assam are female which is the 5th highest female participation across all states in India. Investor growth tripled from 0.7% in 2019 to 2.3% in 2024. We are committed to supporting this growth by ensuring education, awareness, trust, transparency and protection in the securities market.
The Mega RISA provided a holistic perspective on investor rights, responsibilities, emerging market trends, with insightful discussions on fraud prevention in the digital era, financial literacy, and smart investment practices.
The event included panel discussions on “The Future of Securities Market – Trends, Challenges and Opportunities” and “Let’s Deep Dive into DEMAT” – Experts from SEBI and financial institutions highlighted emerging trends, demat related issues, cyber threats and unregulated investment risks. Attendees were educated on safe investing practices and identifying red flags in ponzi schemes, unauthorized advisors, digital scams and more. Additionally, the event also included financial quiz and a Nukkad Natak, making financial education accessible and engaging.
With interactive discussions, data-driven insights and expert guidance, the seminar served as a valuable platform for participants. With overwhelming participation from investors, financial professionals, doctors, financial experts and students, it reaffirms Assam’s growing interest in the securities market and helps them make informed financial decisions and navigate the securities market with confidence.
Inauguration of School Toilets in Hyderabad by Dupont CSR
Hyderabad, 7 Feb, 2025: Safe Water Network India (NGO) and the Dupont CSR team inaugurated toilet facilities in two schools: the Government High School for Girls (GHS(G)) in Bowenpally, Secunderabad, and the Government HS Mudfort in Thirumalai Nagar, Secunderabad. The initiative provides 10 toilets and 21 urinals in Bowenpally School and 16 toilets and 23 urinals in Mudfort, impacting 1120 students.
Dupont leadership at the event was represented by Mr. Krishan Phophalia, Financial Controller – India/ANZ cum Service Delivery Leader-Accounting & Reporting; Ms. Uma Sreeramulu – Service Delivery Leader- Global Procurement; Mr. Seetha Ramanjaneyulu – Financial Controller; Mr. Sukhendu Bandu – Manager, E2E Service Management and Ms. Tatyana Dyadyuk – Executive Assistant.
Thanking the Dupont CSR and the NGO Safe Water Network, the Principal, Mr. Madhusudan Reddy, Bowenpally School, said, “Clean, functional toilets are fundamental to schools and a big step for students’ health and academic achievement. We thank you for providing the infrastructure and a partial salary for the cleaning and cleaning supplies. He added that the safe drinking water treatment plant set up earlier provided continuous safe water to the students.”
The Principal, Ms. Irene Suprada at Mudfort School said, “The clean toilets and maintenance support are a big relief to the school and our students who earlier had no access to toilets and had to go home, especially the girl students. The toilets promote good hygiene, prevent the spread of diseases, and ensure students can comfortably attend school without disruption. This will promote good health and the ability to learn.” Thanking the donors for the clean water treatment plant set up earlier and the hand wash station in the Mudfort school, she urged continued support for the welfare of the students. The students’ presented a skit on health and hygiene, speech on how to use the toilet and keep it clean and method and moments of handwashing.
At the event, Poonam Sewak, Vice President of Programs & Partnerships, Safe Water Network India, said, “Safe Water Network is committed to School WASH both in creating infrastructure and its operation and maintenance as well as education and awareness generation on health and hygiene. We periodically conduct IEC campaigns through skits, demonstrations, and school posters. We support more than 75 schools, impacting 30,000 students.”
Nitesh Banga Named CEO of Virtusa Succeeding Santosh Thomas
Mumbai, India, 7th February 2025: Virtusa Corporation, a global leader in digital business strategy, digital engineering, and IT services, today announced a leadership transition with the appointment of Nitesh Banga as President and CEO, effective February 3, 2025. Nitesh will succeed Santosh Thomas, who is stepping down to pursue outside opportunities. Mr. Thomas has agreed to stay on as a strategic advisor through the transition process.
“I am immensely proud of the substantial growth we have accomplished together over the past 4 years at Virtusa. It has been exciting to witness firsthand the positive impact our efforts have had on our people, our clients and their customers,” said Santosh. “I firmly believe Virtusa has a bright future ahead, helping our global clients deliver exceptional experiences that will take advantage of the future of technology.”
During his tenure as CEO, Mr. Thomas guided Virtusa through a holistic company transformation. He established the strategic direction of the company, drove worldwide operational excellence through targeted investments in personnel, technology, and commercial initiatives. He oversaw several strategic acquisitions and digital capability expansion efforts which significantly broadened the company’s services and resulted in record-high client and employee net-promoter scores.
Nitesh Banga joins Virtusa from GlobalLogic, a Hitachi Group company, where he served as President & CEO. Nitesh is an industry veteran with diversified expertise ranging across strategy, business development, service delivery, operations, and mergers & acquisitions. In his tenure at GlobalLogic, he oversaw transformational and exponential growth as a design-led digital engineering leader, as well as the company’s acquisition and successful integration with Hitachi. During his tenure, the organization was able to uphold exceptional client and employee satisfaction, reflecting a commitment to strategic and results-oriented leadership. Beyond his most recent role, Mr. Banga brings nearly three decades of leadership in the technology services industry, including over 20 years at Infosys, where he held various leadership positions around the globe.
“I am deeply honored to step into this role at such a pivotal moment of change in the industry, and the world,” said Nitesh. “In this new era, the advantage will rest with enterprises who drive with a hyper focus on their customers’ needs through adoption of digital and AI technologies coupled with a robust data strategy. Virtusa occupies a distinctive and advantageous position to assist brands in transforming and differentiating their businesses through technology. I am excited to work with our team to evolve our business and double down on the deep domain depth and engineering DNA that has defined Virtusa, to bring innovative new experiences and solutions to the market alongside our marquee clients.”
“On behalf of the Board, I extend our gratitude to Santosh for his contributions as CEO,” stated Rajeev Mehta, Chair of the Board of Directors. “Since joining Virtusa in 2021, Santosh has spearheaded the Company’s expansion into new offerings and capabilities, achieved substantial organic and inorganic growth, expanded our global presence, and positioned Virtusa as a leader in Digital Engineering and AI. We appreciate Santosh’s dedication to Virtusa and wish him continued success in his career.” Rajeev continued. “Nitesh is a highly accomplished leader in the world of Digital Engineering, but importantly, also someone who shares Virtusa’s passion for clients. I look forward to working together with Nitesh as we continue innovating and optimizing our business to drive transformational results for us and our clients in an AI-everywhere world. With his deep expertise, Nitesh is well suited to guide the company forward during this AI powered technology revolution.”
Mila Beauté Targets 100Cr Growth to Revolutionize Tier 2 & 3 Beauty Markets
Mumbai: 7th Feb 2025: In a significant move to solidify its foothold in the beauty and cosmetics industry, Mila Beauté, Indian skin friendly beauty brand with a global perspective, plans to expand its retail footprint in 2025. With a robust presence across 11,500 retail touchpoints in over 300 cities, the brand is now poised to deepen its reach into Tier 2 and Tier 3 cities to bring affordable and premium cosmetics closer to millions of customers.
Mila Beauté will be deepening its successful retail model to expand into markets where customers rely on physical stores for makeup purchases. This approach ensures the brand’s presence in convenient locations, making it easier for people to try products before buying. By focusing on the needs of India’s rapidly growing middle-income households, the brand is filling an important gap in the market for affordable, high-quality beauty products with a hyper local footprint.
Over the years, Mila Beauté has built a strong presence in regions such as Punjab, Rajasthan, Uttar Pradesh, Maharashtra, and Gujarat. However, South India stands out as a key area of opportunity for the brand while also penetrating East and North East markets. With a rising demand for beauty products and a diverse customer base, the region offers significant potential for growth. To tap into this market, Mila Beauté plans to strengthen its presence by expanding its retail network and introducing products formulated to suit regional skin and weather condition.
Saahil Nayar Co-founder and MD, Mila Beauté, said, “Our mission has always been to create a brand that resonates with every Indian, irrespective of where they live. With this expansion strategy for 2025, we’re taking Mila Beauté to every corner of India, ensuring that our customers even in smaller cities have the same access to premium quality products as those in metros. This move is more than just a milestone for us. It is a step towards making beauty inclusive, accessible, and experiential for everyone.”
Mila Beauté is rapidly expanding its presence across India, with a consumer base of half a million. They offer a diverse selection of products across all major makeup categories, including face, lip, and eye, ensuring something for every Indian skin tone. Their product portfolio includes in-demand products like fixers, primers, concealers, compact powder, lipsticks, and gloss. With its robust plans for horizontal and vertical growth across all regions of the country, Mila Beauté is on its strategic route to become a household name across India by delivering superb quality products at everyday prices at all retail touchpoints that are convenient for consumers.
Mahindra Manulife Mutual Fund Launches Mahindra Manulife Value Fund
Chandigarh, 07 February 2025: Mahindra Manulife Mutual Fund, a joint venture between Mahindra & Mahindra Financial Services Limited (“Mahindra Finance”) and Manulife Investment Management (Singapore) Pte. Ltd., has introduced the Mahindra Manulife Value Fund, an open-ended equity scheme designed for investors seeking long-term growth through a value investing approach. The fund aims to identify and invest in fundamentally strong yet undervalued companies, unlocking their potential for sustainable returns.
The Mahindra Manulife Value Fund aims to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity-related instruments of fundamentally strong yet undervalued companies. The fund follows an active investment strategy, identifying stocks trading below their intrinsic value with high turnaround potential. By capitalizing on potential stock re-rating and earnings growth, it offers investors a compelling opportunity to build wealth over time.
Anthony Heredia, MD & CEO of Mahindra Manulife Mutual Fund, emphasized the relevance of this offering, stating, “Value investing has long been a time-tested strategy for sustainable wealth creation. With this fund, we aim to identify fundamentally strong businesses available at attractive valuations, providing investors with a structured approach to unlocking long-term growth potential. This offering is well-suited for those looking to build a resilient core portfolio while capitalizing on market opportunities.”
Mahindra Manulife Value Fund will be managed by Krishna Sanghavi, Chief Investment Officer – Equity, who brings over 30 years of experience in the Indian equity markets, along with Vishal Jajoo, Fund Manager – Equity.
Krishna Sanghavi outlined the fund’s core objective: “Our approach integrates fundamental research with valuation-based stock selection. The goal is to build a well-diversified portfolio by identifying undervalued businesses with strong financials, sustainable competitive advantages, and robust growth potential. The fund follows a disciplined investment framework to maximize risk-adjusted returns over the long term.”
The investment approach of the Mahindra Manulife Value Fund combines bottom-up stock selection with a focus on companies trading below their historical valuation multiples. The fund will actively manage portfolio allocation across market capitalizations, leveraging fundamental analysis to uncover quality businesses with strong cash flows and management efficiency. By following a structured value investment process, the fund aims to unlock potential in sectors and companies poised for long-term growth.
The Mahindra Manulife Value Fund is ideal for investors seeking to invest in fundamentally sound yet undervalued stocks. The New Fund Offer (NFO) opens on 7th February 2025, with the subscription window closing on 21st February 2025. The fund will subsequently reopen for continuous sale and repurchase from 5th March 2025.
Chapter 4 of India’s Wellness Festival to Debut in Delhi on March 1, 2025
Be Good Tribe is Back with #ForYou!
What’s Happening:
Join us for Be Good #ForYou – Chapter 4, presented by Be Good Tribe, a one-of-a-kind wellness festival that brings together global artists, wellness experts, and thought leaders. This transformative event is designed to inspire mindful living, promote sustainability, and encourage a harmonious balance between resources and our needs.
Festival Highlights:
Live Performances
Get ready for an electrifying musical journey featuring:
- Nahko Bear
- Pulkit Jain
- Parikrama Mega & Friends – a dynamic 12-artist lineup spanning generations!
Wellness Workshops Curated by FindYourFit
Discover a variety of wellness sessions for mind, body, and soul, including:
- Artistic Yoga demonstration by the renowned Yoga Guru Bharat Thakur
- Sacred Stretch with Mini Shastri
- Jah Moves with Arpita Dutta
- Tap the Right Points (Acupressure) with Geet Taneja
- Finding Peace (Meditation) with Puneeta Roy
Conversations & Panels
Engage in thought-provoking discussions with spiritual leaders, psychologists, and celebrities focusing on mental health, mindfulness, and holistic well-being.
Pet-Friendly Zone
Celebrate the joy and therapeutic power of pets in our specially designed pet-friendly zone!
Chandni Gaglani Takes Charge as Head of Aisle Network
Bangalore, 07th February 2025: Backed by Info Edge, Aisle Network, India’s third largest platform appointed Chandni Gaglani as its Head, last year, to lead the next growth chapter. Chandni spearheads Aisle’s strategic vision, drives innovation and oversees its growth across key domains, including product development, marketing, operations and market expansion.
The House of Aisle, a frontrunner in high-intent dating, has consistently stood out for its curated matchmaking experiences tailored to Indian sensibilities, housing 5 major apps: Aisle, Arike, Neetho, Anbe, and Neene. The House of Aisle has witnessed remarkable growth on key apps in the last one year, improving the YOY burn by a whopping ~40%. The platform launches industry-first IPs such as Aisle experiences, and adopts new monetization and reco models, under Chandni’s leadership. With Gaglani at the helm, the company is poised to redefine the dating landscape, leveraging her extensive experience in marketing, product strategy and business development.
Chandni Gaglani, a postgraduate from the Indian School of Business (ISB), brings over a decade of leadership experience with renowned companies such as Flipkart, Myntra, and Udaan. At Flipkart & Myntra, she launched groundbreaking initiatives such as the large appliance vertical revamp, and set industry-first marketing IPs such as Myntra Fashion Superstar, Myntra Studio Feed, and the M-Creator Ecosystem, which resonated strongly with the target audiences. As the Head of Product Experience at Udaan, Chandni pioneered the app revamp and a robust content ecosystem for non-discretionary verticals such as Lifestyle, General Merchandise and Electronics, solidifying her reputation as an innovative leader.
Looking back at the last year, Chandni said, “I am thrilled to be at Aisle Network at this pivotal juncture. As the brand continues to redefine high-intent dating for Indian singles globally, I look forward to driving meaningful connections and sustainable growth for the platform. With Aisle’s unique positioning and my passion for creating impactful user experiences, we are set to make dating more purposeful and enriching.”
In her leisure time, Chandni enjoys yoga, meditation, reading, traveling, and spending time in nature, reflecting her well-rounded approach to both work and life.
PVR INOX announces results for the Quarter & 9 months ended 31st Dec 24
Gurugram, February 7, 2025: PVR INOX Limited today announced its unaudited standalone and consolidated financial results for the quarter and the 9 month period ended December 31, 2024.
Blockbuster movies propelled Q3 to the highest box office earnings of the year. This success led to record-breaking average ticket prices and spending per head, reaching Rs 281 and Rs 140 respectively. Advertising revenue also soared to Rs 1,486 mn, the highest since the pandemic. Admissions during the quarter were 37.3 mn. For the 9 month period, the company recorded 106.4 mn admissions with an average ticket price of Rs 259, spend per head of Rs 137 and ad income of Rs 3,513 mn.
Notably, Pushpa 2 made history as the biggest blockbuster ever in Indian cinema, contributing 36% of Q3’s India box office collections and 12% of CY 2024’s India Box office collections.
Q3 began with strong performances from Tamil and Telugu films. Spillover from Junior NTR’s Devara Part-1 and Rajnikanth’s Vettaiyan led October’s box office, together generating almost 25% of the month’s total box office collections. Their success highlights the growing popularity of South Indian cinema across various regions. However, underwhelming performance of Hindi and English releases like Jigra and Joker 2 impacted the overall October box office.
In November, Hindi cinema rebounded with two Diwali hits, Singham Again and Bhool Bhulaiyaa 3, each earning approximately Rs 300 crores. Regional films continued their strong performance, with Amaran surpassing Rs 250 crores and becoming the 2nd highest-grossing Tamil film of the year. The Telugu film Lucky Baskhar, a mid-budget production, also performed well, grossing around Rs 90 crores.
December emerged as the biggest month of the year, driven by the record-breaking release of Pushpa 2. The film grossed over Rs 1,450 crores in India, with its Hindi dubbed version achieving over Rs 900 crores, a new record for the highest-grossing Hindi film ever. Hollywood also found success with Mufasa: The Lion King, which resonated with urban family audiences and collected over Rs 100 crore at the Indian box office. Despite these successes, Q3’s overall momentum was impacted by the rescheduling of key films like Sitare Zameen Par and Chhaava amongst others.
Following a lackluster 2024, Hollywood anticipates a strong rebound in 2025 with a packed slate including sequels to popular franchises. Marvel fans can look forward to three releases: Captain America in February, Thunderbolts in May, and Fantastic Four: First Steps in July. Other major releases include Mission Impossible: Final Reckoning, Final Destination: Bloodlines and Karate Kid: Legends in May, Formula One starring Brad Pitt, Ballerina, and How to Train Your Dragon in June. Additional notable titles include Superman, Jurassic World: Rebirth, Conjuring: The Last Rites, Mortal Kombat 2, Now You See Me 3, Predator: Badlands, and Avatar 3: Fire and Ash among others.
Bollywood’s 2025 lineup looks promising with major releases – Chaava (Vicky Kaushal) releasing next week, followed by Shankara (Akshay Kumar and Madhavan), Diplomat (John Abraham), and Sikandar (Salman Khan) in March. Other notable titles for the year include Jaat (Sunny Deol), Raid 2 (Ajay Devgn), Housefull 5 (Akshay Kumar), War 2 (Hrithik Roshan), Jolly LLB 3 (Akshay Kumar, Arshad Warsi), Son of Sardar 2 (Ajay Devgn), Sitare Zameen Par (Aamir Khan), Thama (Ayushman Khurana) among others.
Regional cinema also promises a diverse selection. Thandel (starring Naga Chaitanya) releases tomorrow, while Empuraan (Mohanlal) and Hari Hari Veera Mallu (Pawan Kalyan) are expected in March. Other notable titles for the year include Good Bad Ugly (Ajith Kumar), Idli Kadai (Dhanush), Hit the 3rd Case (Nani), Retro (Suriya), Mass Jathara (Ravi Teja), VD 12 (Vijay Deverekonda), Thug Life (Kamal Hassan), Kantara 2 (Rishab Shetty), Raja Saab (Prabhas), Coolie (Rajinikanth), Thalapathy 69 (Vijay Thalapathy) among others.
Till date in the current fiscal, the company has added 77 new screens and exited 67 underperforming screens. For the whole year, the company expects to open about 100–110 new screens. Screen portfolio currently stands at 1,728 screens across 350 cinemas in 111 cities in India and Sri Lanka.
For future openings, the company has signed 100 new screens under the new ‘Capital Light’ growth model. These screens are expected to come up over the next 2-3 years. Of these, 31 screens are under the ‘Management Contract’ model, and 69 are under the ‘Asset Light model’.
Post-merger, the company has consistently managed to reduce its net debt. As of December 2024, net debt stands at Rs 9,958 mn as compared to Rs 14,304 mn in March 2023, a reduction of Rs 4,346 mn.
Commenting on the results and performance, Mr. Ajay Kumar Bijli, Managing Director, PVR INOX Ltd., said, “As we look ahead, our focus remains on pivoting to the capital light model, enhancing free cash generation, reducing net debt, controlling costs and delivering a diverse slate of films that excite and inspire moviegoers. With a robust content pipeline, a slew of strategic growth initiatives, and continued financial discipline, we are confident in sustaining our leadership and driving long-term value for all stakeholders.”