CHENNAI PLUS

Chennai: Castrol India Limited, a leading lubricant manufacturer, has announced the appointment of Kedar Lele as its new Managing Director, effective 1 November 2024.   Kedar joins Castrol India after an illustrious two-decade-long career at Hindustan Unilever Limited (HUL), where he last served as the Executive Director of the company, responsible for Sales & Customer Development, South Asia. With his deep expertise in leading high-performing teams, driving growth, and fostering innovation, Kedar is set to play a pivotal role in steering Castrol India’s future in the evolving automotive and lubricants industry.   Commenting on the appointment, Rakesh Makhija, Chairman, Castrol India Limited , said, “ We are delighted to welcome Kedar to the Castrol India. His vast experience in driving growth and leading large teams in complex markets makes him an outstanding choice to lead Castrol India. I would also like to take this opportunity to thank Sandeep for his except...

The Urimai Kural Drivers’ Trade Union, representing over 5,000 auto and cab drivers across Chennai and Puducherry, has called for the adoption of a SaaS/subscription model for ride-hailing services. The union advocated that this new SaaS based subscription model by few selected ride-hailing platforms has benefited both drivers and customers immensely, as it has improved drivers’ earnings and at the same time has also reduced travel costs for passengers. M r. Zahir Hussain, General Secretary, Urimai Kural Drivers Trade Union of Tamil Nadu & Puducherry said, “ The traditional commission-based ride-hailing model benefits neither the drivers nor the customers. Also, high commission fees charged by app-based platforms for each ride, combined with reductions in incentive payouts, has led to a decline in net incomes for our drivers. Many drivers are also facing financial strain due to delays in payment processing by these platforms, often resulting in debt and insecurity regarding their l...

Chennai, 29th October 2024:   On World Stroke Day 2024, Apollo Hospitals Chennai reaffirms its commitment to addressing the growing burden of stroke in India, where cases have surged alarmingly from 1.25 million in 2021 to approximately 1.8 million in 2023 (according to ISA). Apollo Hospitals remains dedicated to enhancing awareness, early intervention, and comprehensive stroke care to improve patient outcomes and quality of life. Timely intervention within the first 4.5 hours, known as the "golden hour," is critical in minimizing stroke-related disability and improving patient outcomes. Apollo Hospitals Chennai leverages state-of-the-art robotic technology, AI-enhanced diagnostic tools, and a multidisciplinary team of experts to treat stroke patients quickly and effectively. In patients with large vessel blockage thrombectomy may be useful upto 24 hrs after stroke onset.   This comprehensive approach provides patients with the best chance of recovery, reducing complication...

Shri. S L Jain, MD & CEO of Indian Bank presented the Q2/Half Yearly results for FY 2024-25 of Indian Bank at a press conference held on 28th October 2024 at Indian Bank, Corporate Office, Royapettah, Chennai.  Following is the  financial highlights.   Strong Performance: Indian Bank's global business reached ₹12. 44 lakh crore, a 10% year-on-year (YoY) increase. Net profit soared by 36% YoY to ₹2707 crore, with operating profit rising 10% YoY to ₹4728 crore. Net interest income increased by 8% YoY to ₹6194 crore. Fee-based income also grew by 11% YoY to ₹891 crore.   Profitability and Efficiency: Return on assets (RoA) climbed by 27 basis points (bps) to 1. 33%, while return on equity (RoE) rose 114 bps to 21. 04%. Yield on advances (YoA) improved by 2 bps to 8. 77%, and yield on investments (YoI) increased by 40 bps to 7. 17%.   Loan Growth: Gross advances rose by 12% YoY to ₹550644 crore. Retail, Agriculture & MSME (RAM) advances grew by ...

Tamilnad Mercantile Bank Ltd (TMB), an old Private Sector Bank with headquarters in Thoothukudi, has a strong history of 102 years. TMB has 567 branches across India serving over 5 million customers. In a recent meeting, financial results for the Quarter and Half Year ended September 30, 2024, were approved. The bank's operating profit increased by 27. 40%, net profit surged by 10. 58%, NIM increased to 4. 25%, and non-interest income improved by 45. 51%. Additionally, the bank's key performance indicators such as NPA, ROA, CRAR %, and book value per share demonstrated positive growth. The bank also achieved growth in deposits, advances, net interest income, net worth, and RAM segment. Moreover, new branches were opened and GST Payment facility for customers was launched. New senior executives from SBI have also joined the bank recently.

India, October 28, 2024: Amazon India and Hindustan Petroleum Corporation Limited (HPCL)  announced their collaboration to push the development and adoption of Low Carbon Fuels (LCFs) for long-haul transportation in India. This alliance marks a significant step towards reducing carbon emissions in the transportation sector and also aligns with Amazon’s global commitment to achieving net-zero carbon across its operations by 2040, contributing to India’s national goal of net-zero carbon by 2070.   Amazon and HPCL marked the collaboration by signing a memorandum of understanding (MoU) focused on increasing the supply and demand for LCFs such as Renewable Diesel (RD) and Compressed Biogas (CBG), which offer a substantial reduction in carbon intensity compared to fossil fuels. Through the collaboration, Amazon and HPCL will conduct a pilot to test fuels in Amazon’s long-haul transport vehicles and explore the possibilities of fuelling hubs and mobile refuelling stations for easy ...

Chennai, 27 th Oct 2024: The Indian Stroke Association (ISA) has launched MISSION BRAIN ATTACK , an initiative aimed at enhancing the awareness, education, and training of healthcare professionals in stroke prevention, immediate treatment, and rehabilitation. The campaign “Each One Teach One ” addresses the alarming rise in stroke cases across India, emphasizing the urgent need for specialized training and resources to improve stroke care nationwide. Strokes are one of the leading causes of death and disability in India, affecting approximately 1.8 million people annually. As the second most common cause of mortality and the third leading cause of disability, strokes have had a significant impact on the country’s healthcare system. Despite this, awareness about stroke symptoms and timely intervention remains low. MISSION BRAIN ATTACK seeks to close this gap by offering healthcare providers critical training on recognizing stroke symptoms early and implementing effective care proto...

KreditBee, India’s leading online credit solution provider, continues to strengthen its position as a trusted financial partner, catering to a diverse and growing user base of over 17.1 crore indiv iduals across metros, tier 2 and tier 3 cities. Tamil Nadu, as a market, has observed over 48 lakh loan customers. “With India being the world’s fastest-growing major economy, a significant middle-income population is driving the adoption of digital financial products to achieve their financial goals. At KreditBee, we are committed to financial inclusion, helping Bharat meet its aspirations,” said Madhusudan E, Co-founder and CEO, KreditBee. “We are glad to have served over 170 million customers across 19,000 pin codes, and with the onset of the festive season, we are confident that the strong demand in our loan portfolio will continue to grow.” As the festive season approaches, KreditBee has launched its latest campaign positioning itself as, ‘Har Sapney Ka Sathi . The camp...

Amidst the global silver price rally, Hindustan Zinc Limited has been awarded renewed certification of Responsible Silver Guidance by the LBMA for its Pantnagar Metal Plant, confirming its adherence to international quality standards. The company produced 746 metric tonnes of silver in FY24, securing its place as the world's third-largest silver producer. This certification recognizes Hindustan Zinc's silver products as meeting global trading standards. The Pantnagar Metal Plant was praised for its responsible sourcing, production procedures, sustainability parameters, and innovation. Hindustan Zinc's CEO emphasized the company's commitment to high-quality silver production and its focus on emerging industrial and consumer demands, suggesting that a separate silver company may be established through demerger to boost growth. The increasing demand for silver in various industries such as solar energy, electronics, AI, healthcare, and transportation is highlighted, show...

Ujjivan Small Finance Bank Ltd. reported its financial performance for the quarter ending September 30, 2024.  The key highlights of their performance in Q2FY25 include:- Assets: Gross loan book increased by 14% YoY to ₹30,344 crore, with secured book at 34. 9% in Sep’24.  - Collection and Asset Quality: Collection efficiency was around 97% in Sep’24, with portfolio at risk at 5. 1% and GNPA at 2. 5%.  - Deposits: Deposits rose by 17% YoY to ₹34,070 crore, with CASA deposits up by 26%.  - Financials: NII was up by 15% YoY to ₹944 crore, with NIM at 9. 2%. PAT stood at ₹233 crore in Q2FY25.  - Capital and Liquidity: Capital adequacy ratio was at 23. 4%, with Tier-1 capital at 21. 6%.  The bank's MD & CEO mentioned that the bank has taken a cautious approach due to stress appearing in overall GNPA, introducing stricter norms to ensure quality acquisition. The bank continues to focus on diversifying its portfolio, increasing secured asset portfolio, an...

Chennai:  Food industry giants, Pizza Hut and ITC have joined hands for the first time in a partnership, in which Pizza Hut will be adding bestselling Sunfeast beverages—Dark Fantasy Milkshake and Mango Smoothie to their menu. With a shared focus on quality and innovation, the partnership aims to offer an enhanced experience that caters to evolving consumer tastes across all channels. Timed with the festive season, the much-loved Sunfeast beverages would add a special touch of celebration to Pizza Hut’s discerning consumers. Whether for Diwali gatherings or upcoming festivities, the two uniquely curated beverages pair perfectly with indulgent meals. The Dark Fantasy Milkshake is a perfect choice for chocolate lovers and combines the signature taste of Sunfeast Dark Fantasy with Belgian chocolate in a creamy, velvety milkshake base. The Mango Smoothie contains the sweetness of ripe mangoes and a delightful blend of fruit and creaminess, making it a refreshing bever...

  MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2024 as attached herewith and available at www.sec.gov/ and on   website at http://investors.makemytrip.com . Business & Financial Highlights | Q2 FY25   ·          Revenue as per IFRS grew by 26.5% YoY in constant currency to $211.0 million in Q2 FY25 from $168.7 million in Q2 FY24. ·          Adjusted Operating Profit registered growth of 32.9% YoY and reached $37.5 million in Q2 FY25 compared to $28.2 million in Q2 FY24. ·          Profit for Q2 FY25 was $17.9 million , compared to $2.0 million in Q2 FY24.   Commenting on the results, Rajesh Magow, Group Chief Executive Officer...

  Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER), the Motion Technology Company, today announced that the Board of Directors approved the results for the third quarter and nine months ended September 30, 2024. July – September 2024 (3rd Quarter) ·          Revenue from operations (net) for the quarter (Q3 ’ 24) was INR 20,728 million, 12.1% higher than the corresponding quarter of 2023 and 0.04% higher than preceding quarter (Q2 ’ 24) ·          PBT (before exceptional items) for the quarter (Q3 ’ 24) was INR 3,332 million, 5.5% higher than the corresponding quarter of 2023. PBT margin for the quarter stood at 16.1%, compared to 17.1% during the corresponding quarter of 2023 and 16.4% during the preceeding quarter ·          Net Profit for the quarter was INR 2,471 million and net profit margin stood at 11.9% January – September 2024 (Nine Months) ·...

Oasis India has been working for 30 years to create safer communities for women and children, focusing on prevention, education, sports, rehab, skilling, and community building. In Chennai, their Community Empowerment Programs target vulnerable populations in Kalyanapuram and Kannagi Nagar, where families are trapped in poverty cycles and girls lack hope for a better future. Programs include After School, Sports, Livelihood Development, and Awareness. Oasis India partnered with The Movement India and A21 on October 19, 2024, for the Walk for Freedom, a global event to combat human trafficking. The event took place in over 100 locations in India, with Chennai's Walk held in Kalyanapuram, Vyasarpadi. Chief Guests included Mr. Hari Haran from ICWO, Mr. Kirubakaran from Vyasarpadi Police station, and Mr. Lawarance from Real Trust. Approximately 100 people participated in the silent walk to raise awareness.

Chennai, October 2024: The Security Solutions business of Godrej & Boyce, part of the Godrej Enterprises Group, has introduced its latest high-security product line tailored specifically for the jewellery sector.  Adhering to the recently created Class E standards set by the Bureau of Indian Standards (BIS) , the newly launched Defender Aurum Pro safe ensures compliance with the latest Quality Control Order (QCO) issued by DPIIT (Ministry of Commerce and Industry).   The Defender Aurum PRO promises to protect jewellers against all potential burglary attacks. Built with advanced barrier materials developed by Godrej through extensive research and development, it offers superior tool resistance. Additionally, it features a sleek and modern fascia, an ergonomically designed round handle for superior grip, and a luxurious leather mat to elevate your interiors. The Defender Aurum Pro Class E safe, is a perfect combination of style and uncompromising protection.   S...

The Material Handling business of Godrej & Boyce, a part of the Godrej Enterprises Group, is taking significant strides in enhancing workplace safety and operational efficiency through indigenous innovation and comprehensive skill development. With material handling accounting for two-thirds of the manufacturing cycle and 40% of accidents attributed to unsafe material handling practices - of which 80% are due to human error or unsafe acts - the business has introduced a range of cutting-edge safety features in its equipment. These include the Seat Belt Interlock System, Safety Lights for pedestrians and other moving equipment, Operator Presence Sensor (OPS) along with Enhance Safety System (ESS) that disables lifting, tilting, attachment functions and forklift movement if the operator is not seated correctly and seatbelt is not fastened. The company has also introduced Smart Curve Control Technology, which reduces speed by up to 30% while turning. An Anti-Rollback System that act...