Apr 20, 2024 | Uncategorized
After an adrenaline-charged debut in the 2024 Asia Road Racing Championship in Thailand, the IDEMITSU Honda Racing India team from Honda Motorcycle & Scooter India (HMSI) is all set for Round-2 to be held at the Zhuhai International Circuit in China this weekend.
After making a promising start at the inaugural round of 2024 Asia Road Racing Championship in the Asia Production 250cc (AP250cc) class, the Indian two-wheeler racing team enters the upcoming round with a total 5 points.
Commenting on the upcoming round, Mr. Yogesh Mathur, Director, Sales & Marketing, Honda Motorcycle & Scooter India, said, “The first round of 2024 ARRC witnessed our feisty riders Kavin and Mohsin delivering powerful performances on the international soil, showcasing their racing prowess. Both our young guns scored points for the team. The performance of IDEMITSU Honda Racing India in the opening round of the 2024 Asia Road Racing Championship reflects our commitment to excellence and determination to succeed in this tough competition. As our riders head to China for Round-2, the team is fuelled with motivation and our riders are in full form. We are confident that they will continue to push boundaries and deliver remarkable results.”
In the AP250 class Race 2 of Round-1 in Chang International Circuit in Thailand, team rider Kavin Quintal, the Chennai (Tamil Nadu) racing prodigy secured a respectable position, earning crucial 3 points for the team. His strong performance in Round-1 is a testament to his talent and determination. The 18-year-old rider enters the Round-2 with total 3 points and currently placed at 15th on the scoreboard.
His teammate, the promising rookie rider Mohsin P, the young lad from Mallapuram (Tamil Nadu) is at 16th position with 2 points at his second season at ARRC.
Sharing his thoughts, Kavin Quintal said, “I’m thrilled with our performance in the opening round of the Asia Road Racing Championship. It felt great to contribute points to the team. As we head to China for Round-2, I am confident that we will continue to up our game and aim for even better results. Thanks to the Honda team for their hard work and unwavering support. We wouldn’t have made it this far without them!”
Looking forward to the second round, Mohsin Paramban said, “Round-1 came with its own set of challenges, I am proud of the team’s effort and resilience. It was a good learning experience, and I am eager to apply those lessons in Round-2 in China. Every race is an opportunity to grow and showcase our potential. I have worked hard on my weak points and I’m excited to see what we can achieve in China.”
About 2024 FIM Asia Road Racing Championship (ARRC): The 27th edition of FIM Asia Road Racing Championship is Asia’s most competitive motorcycle road racing championship, held since 1996. The 2024 season will have six rounds beginning with the official test and season opener at the Chang International Circuit (Thailand) from 15-17 March 2024. In April 2024, the Zhuhai International Circuit, China will host the second leg. The host venue for Round 3 in June 2024 will be held at the Mobility Resort Motegi, Japan. Round 4, 5 and 6 will be held in July, September and December in Indonesia, Malaysia, and Thailand, respectively.
Apr 20, 2024 | Uncategorized
Air India SATS Airport Services Private Limited (AISATS), India’s leading airport services management company, introduces its revolutionary AeroWash services to Air India Express, offering advanced and unmatched robotic cleaning technology to the airline. AeroWash enhances fuel efficiency, reduces carbon footprint, safeguards against structural damage, prevents corrosion, and extends the lifespan of the aircraft, thus improving the financial standing of the organization.
AISATS introduced AeroWash services for Air India and Vistara last year. Being the first and only ground handler in India to introduce this innovative and sustainable aircraft exterior cleaning solution, AeroWash has already completed over 800 aircraft washes at Delhi airport, enabling airlines to reduce their reduction fuel consumption decrease their carbon emissions substantially. This game-changing technology by AISATS has established a new benchmark in aircraft exterior washing across the Indian aviation landscape.
Mr. Sanjay Gupta, CEO of AISATS, said, “We are thrilled to announce the extension of our AeroWash services to Air India Express, showcasing our unwavering dedication to sustainability and innovation in aviation. Our advanced, eco-friendly solutions are designed to benefit the environment while boosting the financial bottom line of the airline. AISATS is committed to delivering cutting-edge solutions to our valued clients, with AeroWash representing a significant stride in this direction. This transformative technology will enhance efficiency and pave the way towards a greener future.”
AeroWash harnesses state-of-the-art robotic technology, delivering precise and efficient exterior cleaning while upholding the highest safety standards for both the aircraft and the equipment operators. AISATS has been at the forefront of introducing sustainable solutions to the Indian aviation sector, further solidifying its position as an industry leader. Recent initiatives, such as the introduction of solar-powered passenger ramp bridges and electric buses at various airports, underscore the company’s unwavering commitment to environmental sustainability.
Apr 20, 2024 | Uncategorized
In a bid to further enhance the convenience for travellers, NPCI Bharat BillPay Limited (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), in collaboration with State Bank of India (SBI), has onboarded SBI NCMC cards on its Bharat BillPay platform. The category is already live with SBI NCMC cards for Noida Metro, Nagpur Metro, MMRDA Line 2A & 7, Chennai Metro, Kanpur Metro, and Parliament Canteen via the bank’s Bharat BillPay-enabled application, SBI Unipay, and more frontend platforms will go live with the service soon.
The introduction of National Common Mobility Card (NCMC) Recharge as a biller category will enable customers to recharge/top-up their cards conveniently online, avoiding long queues and ensuring a hassle-free experience. Customers can easily top-up their NCMC cards with up to INR 10,000 online through Bharat BillPay-enabled platforms, supporting various methods such as prepaid, debit, and credit cards. After a successful recharge, customers simply need to tap their NCMC card on the terminal to update their balance.
Speaking on the development, Ms. Noopur Chaturvedi, CEO, NPCI Bharat BillPay, said, “We would like to extend our gratitude to SBI for co-creating and launching this new category with us, which will ease the lives of daily transit users of NCMC cards. NCMC customers, across locations, can now enjoy a seamless experience while recharging, at the platform of their choice. This is one more step to ease digital payments, backed by the certainty, reliability, and safety of our Bharat BillPay platform.”
Mr. Mahesh Kumar Sharma, DMD (Transaction Banking & New Initiatives), State Bank of India, said, “SBI is thrilled to partner with NPCI Bharat BillPay to offer our customers this industry-first offering that promises to revolutionize the way they commute. Through this development, SBI NCMC cardholders can avoid long queues and enjoy the instant and secure option of topping up their wallets via SBI Unipay and all other Bharat BillPay-enabled digital front-end platforms.”
Customers can presently follow below steps for recharging NCMC cards via Bharat BillPay:
- Open SBI Unipay (or other Bharat BillPay enabled front-end platforms)
- Choose NCMC category
- Select Biller
- Input mobile number & last 4 digits of NCMC card number
- Enter recharge amount
- Make payment
Customer will have to then tap their cards on terminals to update the balance on their NCMC cards.
Apr 20, 2024 | Uncategorized
Honda Motorcycle & Scooter India (HMSI), one of the country’s leading two-wheeler manufacturers, proudly announced a significant milestone in its journey. The company has inaugurated a new state-of-the-art engine assembly line at its Global Resource Factory in Manesar, Gurugram (Haryana), with focus on CKD (Completely Knocked Down) exports.
This milestone marks a significant leap forward in HMSI’s commitment to innovation, efficiency, and global excellence. The new assembly line boasts a capacity of manufacturing 600 engines per day. It is equipped to produce engines for models ranging from 110cc to 300cc, catering to diverse needs and preferences of customers across the globe.
HMSI’s Global Resource Factory in Manesar holds a special place in the company’s legacy. Established in 2001 with ‘Activa’ being the first mass production model, it was Honda’s first two-wheeler manufacturing facility in the country. Over the years, it has evolved into a vital export hub, contributing significantly to India’s position as a key player in the global automotive landscape. Currently, HMSI exports to 58 markets spanning Europe, Central & Latin America, Middle East, South-East Asia, Japan, Australia, New Zealand, and SAARC nations.
Speaking on the occasion, Mr. Tsutsumu Otani, Managing Director, President & CEO, Honda Motorcycle and Scooter India, said, “We are happy to introduce a new engine assembly line for CKD exports at our Global Resource Factory in Manesar. It is a testament to our relentless pursuit of driving technological advancements in the industry. With this step, HMSI aims to boost its export capabilities, reaching new heights in market expansion and adherence to global quality standards.”
Key features of the new CKD Engine Assembly Line:
- Quality Themes: Utilizing DC tools for critical torquing, Vision camera inspection system and complete Traceability of parts & processes. There is also a dedicated exhaust collection line and an acoustic chamber to inspect engine sound.
- Automation Technologies: The new CKD engine assembly line gets a flywheel assembly automation system for tightening & torquing. There is also automatic piston parts verification system and small parts interlocking unit that ensures error-free processes.
Apr 18, 2024 | Uncategorized
Ambuja Cements Ltd (Ambuja), the cement and building materials flagship company under Adani portfolio, is pleased to announce a significant development in its growth trajectory. The promoters of the Company – Adani family has fully subscribed to the warrants program in the Company by further infusing INR 8,339 Cr thereby infusing total amount of INR 20,000 Cr. Adani family have increased their stake in the Company by further 3.6% to 70.3%. This follows, the investment of INR 5,000 Cr on 18 October 2022 and INR 6,661 Cr on 28 Mar 2024, which was for part issuance of the shares.
This strategic move underscores unwavering commitment to have robust capital management philosophy for the portfolio companies and the latest investment testifies the commitment by Adani family to boost future prospects and potential of cement vertical. The additional investment will fortify the Company’s financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalize on emerging opportunities in the market.
The funds infusion will be instrumental to accomplish the capacity of 140 million tonnes per annum by 2028 by the cement vertical. Further, it shall also enable various strategic initiatives including debottlenecking capex to enhance operational performance, as well as bringing efficiencies across resources, supply chain. This shall also drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector driven by the growth in the Indian economy.
“We are thrilled to announce completion of Adani family’s primary infusion of INR 20,000 Cr in Ambuja,” said Mr. Ajay Kapur, Whole Time Director and CEO, Ambuja Cements Ltd. “This infusion of funds provides Ambuja, capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength. It is not only testament to steadfast belief in our vision and business model but also reinforces our commitment to delivering long-term sustainable value creation to our stakeholders and this shall propel us towards setting new benchmarks accelerating our growth and continue to deliver on operational excellence, business synergies and cost leadership.”
Barclays Bank PLC, MUFG Bank, Mizuho Bank and Standard Chartered Bank acted as advisor for the transaction.
Apr 18, 2024 | Uncategorized
South Indian Bank has signed an MoU (Memorandum of Understanding) with Ashok Leyland Limited for financing their dealers under the Bank’s dealer finance program. Under this partnership, the Bank will provide unmatched dealer finance options to the dealers of Ashok Leyland Limited.
With this tie-up, South Indian Bank aims to help the dealer partners of Ashok Leyland Limited, streamline vehicle inventory funding. This arrangement is mutually beneficial for the vehicle manufacturer, their dealers, and for South Indian Bank.
Speaking on the alliance, Ms. Biji S S, Senior General Manager & Group Business Head, South Indian Bank said, “We are extremely happy to partner with Ashok Leyland Limited. Through our varied financial solutions, our goal is to offer convenient and complete financing choices to the dealers. We believe that this partnership will meet the business needs of both organizations and create a strong positive impact.”
Speaking on the partnership, Mr. Gopal Mahadevan, Director and Chief Financial Officer, Ashok Leyland Limited said, “We are pleased to partner with South Indian Bank. This alliance will offer appropriate inventory financing solutions to our network of dealers. We, Ashok Leyland and South Indian Bank, are committed to provide exceptional customer experiences.”
The MoU was signed in the presence of Ms. Biji S S, Senior General Manager & Group Business Head, South Indian Bank, Mr. Praveen Joy, Head-Transaction Banking Group, South Indian Bank, Mr. Bala Naga Anjaneyalu, Regional Head – Chennai, South Indian Bank, Ms. Karthika S, Zonal Sales Head – Corporate Business Group (Chennai), South Indian Bank, Mr. C. Neelakantan, Head-Treasury, Ashok Leyland, Mr. Madhusudhan D S, Head, Sales Finance, Ashok Leyland, and Mr. Saket Kumar, Head – Strategy, Ashok Leyland.
