Tara Chand Infra Bags New Contracts in Multiple Sectors

  • calendar23 Sept, 09:12 PM (GMT+5:30)
  • time2 Min
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Summary

Tara Chand InfraLogistic Solutions Limited announced on Friday, September 20, that it has secured contracts for crane deployment across several major industries. These new contracts cover capacity expansion and new construction projects in the Cement, Steel, Thermal Power, and Renewable Energy sectors in states including Gujarat, Karnataka, Madhya Pradesh, and Jharkhand.

Tara Chand Infra Bags New Contracts in Multiple Sectors

Key Takeaways from the Contract Win

  • Tara Chand Infra has won new contracts to provide cranes with capacities ranging from 150 MT to 500 MT for projects in the cement, steel, thermal power, and renewable energy sectors.
  • The projects will be carried out in Gujarat, Karnataka, Madhya Pradesh, and Jharkhand with contracts ranging from 6 to 12 months, extendable based on site needs.
  • The total order value is ₹1,159.60 lakhs, to be executed in FY 2024-25.

Under these contracts, Tara Chand will supply cranes with lifting capacities between 150 MT and 500 MT for project durations that will range from six to twelve months, with potential extensions based on site requirements if needed. The total value of these contracts is ₹1,159.60 lakhs, to be executed in FY2024-25.

As stated in a stock exchange filing, the new contracts, with order values broken down by sector, are at ₹473.20 lakhs in the cement sector, ₹153.00 lakhs in the steel sector, ₹239.40 lakhs in thermal power, and ₹294.00 lakhs in renewable energy. 

These orders fall under Segment A of the company, which is construction equipment rental, and which posted a Q1FY25 EBITDA of 51%. 

About Tara Chand InfraLogistic Solutions Limited

Tara Chand Infralogistic Solutions Limited is a provider of cargo handling and logistics services, founded in 2012. It is an IBA-approved carrier, and they have an IATA certification for handling air cargo logistics. Tara Chand Infralogistic Solutions Ltd. encompasses three business verticals, including warehousing and multi-modal transportation, construction equipment rentals, and turnkey infrastructure project execution. These distinct services offer the company a diverse set of industries to operate in providing logistics and project overall solutions.



Source - NSE

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AU Small Finance Bank Partners with Niva Bupa for Insurance Products

  • calendar23 Sept, 09:20 PM (GMT+5:30)
  • time3 Min
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Summary

AU Small Finance Bank, the country's largest small finance bank, announced on Thursday, September 19, a strategic partnership with Niva Bupa Health Insurance Company Limited to offer a range of health insurance products to its customers. Niva Bupa was already the health insurance company of Fincare Small Finance Bank and has now merged with AU Small Finance Bank.

AU Small Finance Bank Partners with Niva Bupa for Insurance Products

Key Takeaways from AU Small Finance Bank Collaboration:

  • AU Small Finance Bank has tied up health insurance products with Niva Bupa Health Insurance Company.
  • These can then be used by new and old customers and other customers with various health insurance products that include health, personal accident, and critical illness plans.
  • AU SFB will have 2,414 touchpoints across India and Niva Bupa will have a network of 210 branches in 22 states and 4 union territories to benefit the customers.
  • The partnership would offer better personalised and customer-centric health insurance services within a wider scope.

Niva Bupa's retail and group health insurance products, including health, personal accident, and critical illness plans, across 2,414 touchpoints in India, will be available to both new and existing AU SFB customers as well as former Fincare SFB customers. The entire effort is intended to offer an affordable and transparent value proposition through the leverage of technology and service modules.

The partnership will leverage Niva Bupa's 210 physical branches spread across 22 states and 4 union territories, while AU SFB will use its strong presence in all facets of its distribution to deliver more customised and customer-centric health insurance solutions to the masses.

Krishnan Ramachandran, MD & CEO, Niva Bupa Health Insurance Company Limited, said, “To realise the vision of 'Insurance for All by 2047’, we must focus on distribution and ensure that we reach out to every individual in the country. Our partnership with AU Small Finance Bank will help us expand our distribution reach and offer comprehensive health insurance solutions to their customer base.”

“By forging an alliance with Niva Bupa Health Insurance Company Limited, we will strengthen our branch banking value proposition through embedded and personalised health insurance solutions that will elevate the well-being of our valued customers”, Uttam Tibrewal, Executive Director and Deputy CEO, AU Small Finance Bank said.

About AU Small Finance Bank Limited: 

AU Small Finance Bank Limited is India's largest small finance bank that started operations in April 2017 with a legacy of 29 years of experience in rural and semi-urban markets. The bank offers its customers a complete range of services, ranging from video banking available 24/7, credit cards, to banking on WhatsApp services being made possible through its highly rated mobile banking app, AU0101.It operates through 2,414 branches across 21 states and 4 Union Territories. Maintaining high ratings in terms of credit, the bank currently carries the ratings of 'AA/Stable' from CRISIL, ICRA, CARE Ratings, and India Ratings. The fixed deposits carry the ratings of 'AA+/Stable' from CRISIL, and the bank is listed both on NSE and BSE.

About Niva Bupa Health Insurance Company Limited:

Niva Bupa Health Insurance Company Limited, formerly a brand name Max Bupa, aims to make good health care available to all Indians. It is owned by the Bupa Group and Fettle Tone LLP and runs over 200 branches, covering more than 140,000 agents, 64 banks, and 486 brokers with over 14 million lives covered and over 10,400 hospitals as of March 31, 2024. The company settles claims above 90% for the last three years and offers employment to more than 7,500 people.

Source - NSE

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TCS Tops the List of India’s Most Valuable Brands 2024 with 16% YoY Growth

  • calendar23 Sept, 09:15 PM (GMT+5:30)
  • time3 Min
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Summary

Tata Consultancy Services (TCS), on Thursday, September 19, announced that it has retained the top position in Kantar BrandZ’s 2024 rankings of India’s Most Valuable Brands.

TCS Tops the List of India’s Most Valuable Brands 2024 with 16% YoY Growth

Key Takeaways from the Announcement

  • Tata Consultancy Services retains its top spot in Kantar BrandZ's Most Valuable Indian Brands 2024 with a 16% YoY growth in brand value.
  • TCS’ brand value increased from $42,969 million in 2023 to $49,657 million in 2024, with a gain of $6,688 million. 
  • TCS’ success is attributed to its innovation, sustainability efforts, and investments in AI and digital transformation.

As per a stock exchange filing, the company made a staggering 16% growth in brand value in the financial year 2024. The brand value of TCS grew from $42,969 million in 2023 to $49,657 million in 2024, with a gain of $6,688 million. 

This is the third consecutive year that TCS has achieved this distinction, showcasing its continued focus on innovation, sustainability, and global presence. Kantar, a leading marketing data and analytics company, evaluated the rankings based on financial data, consumer insights, and market trends.

Deepender Rana, Executive Managing Director - South Asia, Insights Division, Kantar, commented, “Tata Consultancy Services retains its crown as India’s most valuable brand for the third consecutive year, with a brand value of $49,657 million—an increase of 16% over last year. The company’s growth has come on the back of its ongoing investment in innovation and technology, particularly in artificial intelligence (AI) and digital transformation services. TCS has also expanded its presence across tradeshows, and global business summits, entered strategic partnerships with brands like Jaguar TCS Racing in the ABB FIA Formula E World Championship and sponsored multiple marathons over the last few years.”

Abhinav Kumar, Chief Marketing Officer of TCS, expressed pride in being recognised as India’s top brand and said, “While we have made significant strides to build our brand globally, being recognized as India’s most valuable brand is very special to us. Earlier this year, we were recognized among the world’s 50 most valuable brands by Kantar BrandZ and this latest addition further strengthens our brand reputation. Being the market leader in India, we have been very privileged to have built Page 2 of 2 Confidential much of the core technology ecosystem of the country, from the corporate sector to citizen services and digital inclusion initiatives. As we celebrate 20 years of our IPO this year, it is gratifying to be adjudged as the country’s top brand, and I thank every TCSer for their relentless service to the brand, our company, and our clients.”

About TATA Consultancy Services Limited

Tata Consultancy Services (TCS) is the leading company of the Tata group. It is an IT services, consulting, and business solutions provider that has been working with many of the world’s biggest companies for over 50 years, helping them transform their businesses. TCS offers a wide range of services, combining business, technology, and engineering solutions, with a focus on consulting and smart technology.

Source - NSE

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Casper Realty Wins Bid for Prime Plots in Mohali

  • calendar23 Sept, 09:09 PM (GMT+5:30)
  • time3 Min
  • share

Summary

Phoenix Mills Limited’s wholly-owned subsidiary, Casper Realty Private Limited has won two precious pieces of land in Mohali, Punjab. These plots together in Sector 62, near YPS Chowk, cover around 13.14 acres and were auctioned by the Greater Mohali Development Authority, GMADA.

Casper Realty Wins Bid for Prime Plots in Mohali

Key Takeaways from Casper Realty Bid Win 

  • The subsidiary of The Phoenix Mills Limited, Casper Realty Private Limited has won the auction hands down with two plots of land in Punjab's Mohali which spreads across an area of approximately 13.14 acres.
  • The plots were up for auction by the Greater Mohali Development Authority (GMADA) and Casper Realty collectively bid for roughly Rs. 891 crores for them.
  • Casper Realty will pay the total amount as and when demanded by GMADA.
  • The plots are to be developed as a high street retail space along with a mixed-use project on the newly acquired land, which is at present handed over for commercial purposes only.

Casper Realty won the auction with a combined bid of approximately Rs. 891 crores. The company will pay the full amount by the deadline for payment prescribed by GMADA. Both these plots are allotted for commercial purposes, and the Casper group intends to develop a high street retail with some mixed-use projects on this land.

“We remain optimistic about our future mall launches and we continue to execute our previously stated strategy of retail-led mixed-use portfolio expansion in market-leading destinations in cities of India, which present the opportunity for us to create such mega consumption hubs”, Shishir Shrivastava, Managing Director at The Phoenix Mills Limited said.

The plots are located in an excellent connectivity area, between Chandigarh and Sahibzada Ajit Singh Nagar (Mohali). This area will meet the growing demand for more retail and entertainment-related spaces in the Chandigarh Metropolitan Region, including the Chandigarh city and surrounding cities of Panchkula, Mohali, and Zirakpur. Being situated at the crossroads of Punjab, Haryana, and Delhi, the CMR region has provided an ideal location for real estate growth.

About Phoenix Mills Limited 

Phoenix Mills Limited (PML) is the leading owner, operator, and developer of retail-led mixed-use destinations across developments in retail, hospitality, commercial offices, and residential asset classes. It has an operating retail portfolio of over 11 million square feet across eight key cities in India and is currently developing approximately 4 million square feet of retail space through three new malls as well as densifying its existing destinations. It also includes Grade A offices, which have operational space of more than 2 million sq. ft and over 5 million sq. ft under development. PML has successfully executed three landmark residential projects across the country and presently has one project in Kolkata. The company owns and operates two hotels: The St. Regis in Mumbai and Courtyard by Marriott in Agra and plans to develop a Grand Hyatt hotel in Whitefield, Bengaluru. PML diversified into food and beverage, which operates 39 outlets across its malls with 10 diversified offerings.



Source - NSE

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