RBI approves appointment of Ittira Davis as MD & CEO of Ujjivan Small Finance Bank
Ujjivan Small Finance Bank today announced that it has received the RBI approval for the appointment of Mr. Ittira Davis as its Managing Director & CEO for a period of 1 (one) year
Mr Ittira Davis is a senior banker with over 40 years of rich experience having worked extensively in India, Middle East and Europe. He has been associated with Ujjivan since March 2015. His first pivotal assignment, as the Head of Transition, was to oversee successful transformation of a micro-finance institution into a small finance bank which included accessing the capital markets with two successful IPOs.
Prior to Ujjivan, Mr. Davis was the Managing Director with the Europe Arab Bank, London. He has also held leadership positions with Arab Bank plc, Bahrain and Citibank, India. He is an alumnus of Indian Institute of Management-Ahmedabad (IIM-A).
Mr. B A Prabhakar, Chairman of Ujjivan Small Finance Bank, said: “I am happy with Ittira coming to head Ujjivan Small Finance Bank in its transformational journey. His extensive global banking experience and familiarity with Ujjivan will enable him to successfully lead the Bank.”
TVS Motor Company accelerates electrification in the commercial mobility segment; signs MoU with Swiggy
TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced a strategic partnership with Swiggy, India’s leading on-demand delivery platform today. This partnership highlights TVS Motor Company’s commitment to strengthen electrification across diverse mobility segments and aligns with Swiggy’s many efforts to enable the adoption of EVs in its delivery fleet. As part of the MoU, TVS Motor and Swiggy will test the implementation of TVS Motor’s EV for food delivery and other on-demand services of Swiggy.
The two companies are exploring the co-creation of sustainable and comprehensive solutions for Swiggy’s delivery partners. This will include working on customised packages like a need-specific product, flexible financing options and, connected services. Notably, the pilot will play a vital role in the adoption of EVs in food delivery and on-demand delivery services.
“TVS Motor Company has been at the forefront of delivering green and connected vehicles to our customers. Our collaboration with Swiggy is a key step towards strengthening the electrification of mobility in food delivery and last-mile delivery services, furthering the easy adoption of EVs amongst customers. This also marks our foray into showcasing our commitment in the electric commercial mobility segment. We look forward to our alliance with Swiggy, who are the leaders in the Indian food and on-demand delivery market and are leading the way in creating a wide and sustainable e-mobility ecosystem in the country,” said, Mr. Manu Saxena, Senior Vice President – Future Mobility, TVS Motor Company
“Swiggy has been pioneering the need for greater EV adoption, with a commitment to make deliveries spanning 8,00,000 kilometres per day through EVs by 2025. We believe they offer a sustainable solution in green mobility while also empowering our delivery partners to earn more. This pilot with TVS will help us better understand the needs of the delivery fleet and the steps we can take to make our operations more greener and sustainable.” said Mihir Rajesh Shah, Vice President Operations, Swiggy.
The company’s MoU with Swiggy is in line with its commitment to expanding the presence of TVS iQube Electric across all major cities by the end of the financial year. The electric scooter is presently available in 33 cities, including Delhi, Bangalore, Chennai, Pune, Kochi and Coimbatore
Reliance Industries signs MoU for investment of Rs 5.95 lakh crore in Green Energy & other projects in Gujarat
Reliance Industries Limited (RIL) signed MoU today with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct / indirect employment opportunities in the State.
To make Gujarat net zero and carbon free, RIL proposes to invest Rs 5 lakh crore in the State over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.
RIL’s initiatives for decarbonisation and creating a green ecosystem emanate from the vision of Hon'ble Prime Minister Shri Narendra Modi.
In consultation with Government of Gujarat, RIL has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company has requested for 4.5 lakh acres of land in Kutch.
RIL will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells.
Further Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over next 3 to 5 years. RIL has also proposed to invest Rs 7,500 crore over 3 to 5 years for Jio Network upgradation to 5G and another Rs 3,000 crore over 5 years in Reliance Retail.
Nazara Technologies Limited
NODWIN Gaming acquires 100% stake in licensed merchandising D2C company Planet Superheroes
NODWIN Gaming, South Asia’s leading esports company and a material subsidiary of Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA), has added one more feather to its cap by acquiring comic, pop culture and superheroes merchandising retailer — Planet Superheroes. This new addition will enable NODWIN Gaming to offer iconic global merchandise to the millions of youth who engage with NODWIN Gaming via its immensely popular IPs such as India Premiership, VCC, NH7 and DreamHack. NODWIN will also expand on the current offerings of Planet Superheroes by exploring partnerships with global publishers like KRAFTON, Gameloft, Riot Games etc., to create innovative and locally relevant merchandise and licensing offerings on games like BGMI, Valorant, PUBG PC, Asphalt, CSGO, etc., that have become household names
Planet Superheroes (PSH) is a tech-enabled, omni-channel brand that retails licensed character merchandise or ‘Superhero Merch' as it is popularly known. PSH offers official licensed merchandise from Marvel, Warner Bros, Disney, Viacom Networks, Cartoon Network, Fox Studios, Hamleys and Toys R Us, among others. The variety ranges from action figures, collectibles, toys for kids, fashion & home accessories, stationery and apparel.
Planet Superheroes has catered to 2L+ consumers and has shipped over 5L orders since its incorporation in 2015. It has partnered with over 10+ marquee licensed global and domestic IP partners and has created a strong global supply chain with omni-channel operations. The just-intime operations of the firm have helped it run a highly cost-efficient business, providing strong operating leverage with scale. Over the last one year, it has also built its proprietary social commerce engine that it will integrate with NODWIN's in-house assets to create a first-of-its-kind ‘Influencer-First’ merchandising engine.
“The Indian gaming and esports industry has witnessed a metamorphic rise in its fan base in recent years. The acquisition of Planet Superheroes will enable NODWIN Gaming to have another strategic touch point with fans that celebrates a common love for all things gaming, pop culture and esports. We believe in increasing the existing offering of global brands to include mega tournaments, Games and even the popular talent and players like Mortal, Samay Raina, Tanmay, Ankit Panth and others,” said Akshat Rathee, Founder and MD, NODWIN Gaming
"There is huge untapped monetization potential for gaming companies via merchandising and
we share a common vision in realizing this potential with PSH joining NODWIN. I believe we will
get two immediate wins, a larger consumer base for our existing IPs and a new supply of licenses
and partnerships in the gaming industry. I have known Akshat since we met on a Comic Con panel
discussion a few years ago and am very excited to join hands to leverage the talent and influencer
access that NODWIN can provide us," said Jaineel Aga, Founder and CEO of PSH.
NODWIN Gaming continues building out its portfolio of offerings to gaming and esports fans in
the country. This acquisition adds to its recently acquired minority stake in new-age digital media
organization Rusk Media and the acquisition of the gaming and adjacent IP business of OML
Entertainment, taking on the BACARDI NH7 Weekender music festival IP, the YouTube fan
Festival and gaming talent like Samay Raina and Tanmay Bhat.
Cipla wins the prestigious Frost & Sullivan and TERI’s Sustainability 4.0 Award 2021 as “Challenger in Mega Large Business Pharma Sector”
Cipla Limited (BSE: 500087; NSE: CIPLA EQ; and hereafter referred to as "Cipla") announced today that it has been awarded winner as a “Challenger in Mega Large Business Pharma Sector” by Frost & Sullivan and TERI’s Sustainability 4.0 Awards. The award is a testimony to Cipla’s continuous efforts in the Environment, Social & Governance (ESG) space as a leader in the pharma industry. The company has been selected from a list of 50 reputed companies nominated for this award.
A joint initiative by Frost & Sullivan and TERI, the Sustainability Awards in its 12th edition evaluated companies from several sectors to understand the linkages between an organization’s strategy, governance & financial performance and the social, environmental & economic context within which it operates. The companies were evaluated via a comprehensive, in-depth assessment process that included a sustainability framework of 300 points each for – Purpose, Partnership, Planet and People. In this edition of the awards, the assessment also included ‘Sustainability Analytics’ to evaluate how companies are effectively using analytics in their sustainability management. It assessed the existing maturity of companies in three aspects mainly – Effective Data Collection, Usage of Smart Analytical Tools, and End-to-End Visibility in the value chain.
Sharing her thoughts on this award, Geena Malhotra, Global Chief Technology Officer at Cipla said, “We are humbled to have been selected amongst well-known companies across pharma sector for this coveted award. Sustainability is at the core of Cipla and it brings us immense pride to see that our efforts and commitment towards the Company’s sustainability agenda is being recognized. We have miles to go in this journey that we have embarked upon, however, since the start we have aimed to be purposeful in all our endeavors. This recognition is reflective of the combined efforts put together by several teams that are working on the environmental, social and governance aspects of our goals. We will always continue to contribute to the Sustainable Development Goals (SDGs) through products, processes and philanthropic activities that place our stakeholders at the heart of value creation.”
Recently, Cipla was also ranked one of the most sustainable healthcare companies in the Dow Jones Sustainability Emerging Markets Index. With the aim of reaching non-fossil fuel share of 40% by 2030, in January 2021, Cipla became the first pharmaceutical company in Maharashtra to invest in group captive open access solar power project of 30 MW capacity, spread across 115 acres. This has contributed to Cipla’s decarbonizing goals, with the company now sourcing ~25% of its energy from renewable sources in the current year. Additionally, Cipla is also a constituent of the MSCI All Country World Index (ACWI) and has an ESG Rating of BB; as well as a constituent of FTSE4Good Index Series for the three consecutive years.
Aurionpro announces order win in Data Centre Segment
Aurionpro is pleased to announce order win from TP Western Odisha Distribution Limited (TPWODL), A Tata Power and Odisha Government Joint Venture, for setting up & operationalizing of its data centre in Odisha. The Project will be delivered over six months in two phases consisting of supply, installation, testing and commissioning of MEP (Mechanical, Electrical & plumbing) works and furniture for SCADA control and data centre at TPWODL. The project is valued close to INR 8 Crores.
Mr. Bhaskar Bhattacharya, EVP Enterprise Business, while announcing this win stated that “this win will enhance our market position and will help us establish as trusted player in data centre consulting space. Further, with the strong team of skilled resources we are poised to grab more opportunities in the rapidly growing data centre market.”
POSCO & Adani sign MoU for Integrated Steel Mill
POSCO and the Adani Group have agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses. The investment is estimated to be up to USD 5 Billion.
The non-binding MoU signed between POSCO and Adani intends to further collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements.
Both parties are examining various options to cooperate and leverage the technical, financial, and operational strengths of each company.
The collaboration includes evaluating a joint Integrated Steel Mill at Mundra, Gujarat, based on POSCO’s state-of-the-art technology and cutting-edge R&D capability. POSCO and Adani intend to utilize renewable energy resources and green hydrogen, in line with both partners’ ESG commitments to sustainability and energy efficiency
Mr. Jeong-woo, Choi, the CEO of POSCO, said, “POSCO and Adani are able to come to great synergy in the steel and environment-friendly business with POSCO’s state-of-the-art technology in steel making and Adani’s expertise in energy and infrastructure. I hope this cooperation will be a good and sustainable business cooperation model between India and South Korea.”
The Adani Group, founded in 1988, is the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, shipping and rail), Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, and other sectors. Adani has recently announced a massive investment plan to become the world’s largest renewable energy company and produce green hydrogen in the future.
Mr Gautam Adani, Chairman of the Adani Group, said, “We are very pleased to announce the partnership with POSCO, the world’s most efficient and advanced steel manufacturer, in steel production and carbon reduction. This partnership will contribute to the growth of India’s manufacturing industry and the Aatmanirbhar Bharat scheme championed by the Government of India. It will also help to strengthen India’s standing in green businesses.”
POSCO runs POSCO-Maharashtra, a 1.8-million-ton cold-rolled and galvanized mill regarded as the most advanced automotive steel supplier in India, and four processing centres in Pune, Delhi, Chennai and Ahmedabad. It is anticipated that this business cooperation between POSCO and Adani will bring dominant partnership synergy in the Indian steel industry
POSCO and Adani have also signed a MoU with the Government of Gujarat for support and cooperation from the Government for the collaboration.