6 men, 5 women from Mum in State probables, National Basketball Championship

MUMBAI, NOVEMBER 13, 2023 (NHM): Six men and five women from Mumbai are among the probable players picked to represent Maharashtra in the 73^rd Senior National Basketball Championships, to be held in Ludhiana from December 3 to 10, 2023.

Due to the ongoing dispute between two factions in Maharashtra, the BFI appointed Shaktisinh Gohil as Chairman of the Organising Committee to conduct selection trials and Abdul Hamid Khan, Sambhaji Kadam, Arnika Gujar Patil (all ex-internationals) Gurudutt Nayak (ex-Nationals) Dr Jamir Sayyed – National Level Coach and Director of Sports, S K Gandhi College (Dr Babasaheb Ambedkar Marathwada University) as selectors.

 

The selectors have picked the probables from among 78 men’s players and 48 women players from various districts, who participated in the trials.

 

A preparatory camp for the teams will be held in Mumbai from November 18 to December 1, following which the final 12 players who will represent Maharashtra will be selected.

 

Selected players  (men): Sidddhant Shinde , Rajender Singh, Mohd Yousuf Sayyed, Michael Raj, Sameer Qureshi (all Pune), Faiz Firoz Shaikh (Mum S E), Faisal Khan, Ashraf Siddiqui (Mum S W), Rushabh Kalbhor, Yash Shetty (Mum Central), Vijay Sule (Mum North), Parth Kale, Tanmay Mali (Thane), Kapil Gaikwad, Ashish Borde (Ahmednagar), Sahil Shaikh (Solapur), Ambhore Parashram (Aurangabad), Tanay Thatte (Satara), Tanuk Gurnule (Nagpur).

 

Women: Pooja Doshi (Dhule), Shivani Bagade (Kolhapur), Sakshi Pandey, Ameesha Joshi (Mum S E), Vaishali Singh (Mum S W), Anshika Kanojia, Suzanne Pinto (Mum North), Shomira Bidaye, Siya Deodhar (Nagpur), Mansi Nirmalkar, Aanaya Bhavsar,  Arya Riswadkar, Durga Dharmadhikari (Pune), Avisha Gurav (Satara), Sanika Phule (Kolhapur),  Aruja Kamble (Solapur).

 

Medanta announces Q2FY24 results: Net Profit rise up 46% to Rs 125 crore

MUMBAI, 11 NOVEMBER, 2023 (NHM): Medanta-operator Global Health Ltd reported a 46 percent year-on-year (YoY) rise in net profit at Rs 125 crore for the July-September period of the current financial year.

The company reported a net profit of Rs 86 crore in the year-ago period.

The hospital operator's revenue for the quarter came in at Rs 844 crore, reflecting a 24 percent rise YoY from Rs 679 crore.

Its earnings before interest, taxes, depreciation, and amortization (EBITDA) was at Rs 213 crore against Rs 156 crore in the same quarter of the previous financial year.

The EBITDA margin for the July- September quarter was reported at 25.2 percent as against 23 percent for the same period a year ago. 

Country’s top athletes to lead in excess of 18000 participants in VVMCM 2023 11th Edition

Ace athlete Parul Chaudhary to be Event Ambassador of VVMCM 2023

MUMBAI, NOVEMBER 7, 2023 (NHM/ BABITA P.M.): Continuing in its tradition of promoting India’s top sporting talent, multiple Asian Games medalist and ace athlete Parul Chaudhary will be the latest jewel to adorn the crown of the 11^th Vasai Virar Municipal Corporation Marathon (VVMCM), to be held on December 10, 2023.

 

Gold medalist in the 5000m and silver medalist in the 3000m steeplechase at the recently concluded Asian Games in Gangzhou, Parul Chaudhary will grace the VVMC Marathon with her presence as Event Ambassador, which will see the country’s leading long distance runners vying for a piece of the Rs 54 lakh prize money purse, it was announced by the Hon’ble Municipal Commissioner of VVCMC, Anilkumar Pawar (IAS) at a press conference, here, on Tuesday.

 

Sharing the stage with Parul as ‘Face of the Event’ will be Rudranksh Patil from Thane, a member of the Asian Games gold medal winning team in the 10m Air Rifle event. The 19-year-old Rudranksh has also secured qualification to the 2024 Paris Olympic Games after wining gold in the 10m air rifle event at the ISSF World Shooting Championships in 2022.

 

The Vasai Virar Municipal Corporation Marathon has once again attracted the country’s top long distance athletes. The Full Marathon will feature two time defending champion and course record holder (2:18) Mohit Rathore of UP, besides Aurangabad’s Dhanwant Prahlad, with a PB of 2:20. 38; Tirtha Pun from the Gorkha Regiment, Army, with a PB of 2:22, Rajasthan’s Hemant Singh, with a PB of 2:22.24 and Tribhuwan from the Kumaun Regiment, Ranikhet, who has a PB of 2:26.

 

The Half Marathon for women will feature Maharashtra’s Prajakta Godbole, who has PB of 1:14.21, besides Rima Patel (Railways) , 2^nd runner up in the Delhi Half Marathon (1:17.45) and Tamshi Singh (Ranikhet, Uttarakhand), winner of the World 10K, to name a few.

 

The Half Marathon elite field for men will be led by Armay’s Dharmender, who as aPB pf 1:03.54, Maharashtra’s Vivek More, PB of 1:06 and Anand Singh Rawat, who represented the country at the World Cross Country Championships in Feb 2023.

 

To also reward the participants, it has been decided to give every runner a branded running T shirt from the renowned sports brand Berge. Besides this, every participant will get a 3D Finisher’s medal, a loaded goodie bag, hot breakfast, timing certificate valid around the world and a free finish photograph. Besides this, all outstation participants will be provided with free stay and all their meals will be taken care of by the Corporation.

 

Partners to the event: The occasion was also used to introduce the partners to the event, IASIS Hospital, Medical Partner and Enerzal, Hydration Partner, Art Media, Outdoor Media Partner and Viva College, Virar as Venue Partner. The event is being promoted by Aryanz Sports.

 

To ensure a safe run to all participants and prompt and quick medical action in the event of any untoward incident, extensive facilities will be put in place for Race Day. There will be a Medical Base Camp at the New Viva College, which will have an ICU setup provided by IASIS Hospital that will be staffed by Cardiologists and doctors from the hospital as well as from the Medical Associations of Virar, Nalla Sopara and Vasai. Seven fully equipped Cardiac Ambulances will be stationed along the route, along with ambulances at each of the 17 medical stations on the route. There will also be 40 doctors patrolling the route on motor bikes to ensure a quick response time in case any of the participants require medical assistance.

 

The race route will have adequate water and energy drink stations, besides food, cool sponge and orange stations.

 

Photography Competition: For the first time, the Vasai Virar Municipal Corporation Marathon has instituted an award for the Best Published Photograph of the Marathon. Cash Prizes of Rs 15,000, Rs 10,00 and  Rs. 5,000 will be awarded to the top three winners. Ends

Infibeam Avenues Ltd. Announces Financial Results for Q2 FY24

GANDHINAGAR, NOVEMBER 6, 2023 (NHM):– India’s first listed software platforms and payments infrastructure company, Infibeam Avenues Limited (“Infibeam” or “The Company” or “IAL”), (BSE: 539807; NSE: INFIBEAM), has today announced its financial results for the second quarter ending September 30, 2023.

Consolidated Financial Highlights (INR million)

Particulars	Q2 FY24	Q2 FY23	Y-o-Y
TPV1	1,785,235	10,00,003	79%
Gross Revenue	7,899	4,767	66%
Net Revenue 2	1,108	787	41%
EBITDA3	678	400	70%
EBITDA margin 3 4	61%	51%	–
Profit After Tax (PAT) 3	383	132	191%
PAT  margin 3 4	35%	17%	–

1 Includes i) Payments TPV [CCAvenue India and International + BillAvenue + Go Payments] + ii) GeM platform TPV.

2 Net Revenue = Gross Revenue – Direct Operating Expenses (predominantly payment processing revenue collected on behalf of ecosystem partners)

3 Adjusted for excluding the notional impact arising from mark-to-market gain / (loss) from investment in listed security [this has no impact on cash flows]

4 as percentage of Net Revenue

Consolidated Financial Performance Review:

The rise in total TPV can be attributed to both a rise in payments as well as platforms TPV. While payments TPV rose 28% YoY to INR 769 billion, the Company’s largest software platform implementation customer recorded a growth in TPV by 155% to INR 1+ trillion in a single quarter.

Higher growth in Gross Revenue was led by 28% growth in TPV and increase in gross take rate by 36% to 112 basis points. A high contribution (51%) from credit payment options led to an increase in the gross take rates in the payments business.

A total of 0.6 million merchants were added in 1H FY24, of which 0.27 million merchants were added in 2Q FY24, an average addition of 2,900 merchants daily in the domestic payment aggregation business, also recognized by the brand name, CCAvenue.

The company’s payment net take rates experienced a significant increase in Q2 FY24, up 25% YoY to 9.3 basis points (bps), primarily due to a substantial influx of small merchants who, in turn, made the most substantial contribution to the surge in Infibeam Avenues Ltd’s payment business net take rates. Payment net take rate is now inching closer to the targeted double-digit take rate by the end of FY24.

For the first time, the company recorded a net revenue more than INR 1 billion, due to improvement in net margins which in turn led to strong operating performance. Both EBITDA and Profit after Tax, grew sharply, by 70% and 191%, respectively. Also, EBITDA and PAT margins improved sharply.

“In Q2 FY23-24, we witnessed an unprecedented onboarding of merchants, primarily small businesses. This influx has resulted in a higher take rate,” stated Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd.

The company attributes the sustained increase in merchant onboarding to the “trust” factor as merchants and banking partners believe in our strong compliance and robust payment technology platform. This has also led to strong brand recognition among small merchants.

Concurrently, the company also observed a rise in the downloads of CCAvenue TapPay, which is now over 400,000. This innovative payment software, available for download on the Google Play Store, can transform any NFC-enabled mobile device into an easy-to-use point-of-sale (POS) machine, allowing for straightforward card payments with a simple tap, as well as QR code payment options.

Mr. Vishal Mehta, Chairman & Managing Director (CMD) of Infibeam Avenues Ltd, commenting on the company’s performance, stated, “Our payments and platform business is now firmly established and has become the growth engine for the company. In the years to come, it will continue to be the driving force behind our success. This quarter, we have experienced remarkable growth, as we continue to invest in innovative and robust solutions.”

The company’s growth remains in line with the financial guidance issued for FY23-24 during the first quarter of this year. The company’s CMD expressed optimism about achieving better business growth in the upcoming Q3 results, on account of festive and travel season, typically a strong quarter for the company.

“In addition to our exceptional performance in the domestic market, our payment business, CCAvenue, is experiencing significant growth in the international market, particularly in the UAE. In August, we achieved a historic milestone by recording a monthly transaction volume of AED 1 billion in the UAE,” stated Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd.

Other key updates:

• Company forays into offline payments in UAE by offering QR code for payments at merchant outlets; onboarded multiple merchants in last few months including renowned establishments in Dubai like Prime Association Management, a renowned homeowners’ association, and the esteemed Jaffer Bhai’s The Biryani King of Bombay, which operates in Dubai. This will be followed by the launch of TapPay (mobile SoftPoS) in UAE before the end of FY24.

• Payments TPV in UAE crossed AED 1 billion in August 2023, achieving a historic milestone (currently TPV consistently >AED 1 billion). Since 2018, company has processed 23.5 million transactions worth over AED 24.5 billion.

• Company made capex of INR 1.2 billion in 1H FY24 in international markets, towards its country-in-a-box strategy. Investments were largely towards data localization, security & IP rights funded from internal accruals.

• Vybe Ventures, owned by Mr Vishwas Patel (JMD at Infibeam Avenues) & his family, in October 2023, converted all the warrants to equity, totaling 95 million.

• Company aspires to emerge as a key player in the Artificial Intelligence (AI) -based fraud detection and prevention market. It has made an investment of INR 1 billion by acquiring a new building, securing a plot area spanning about 76,250 square feet, along with a partially constructed building covering an area of 420,000 square feet. The new campus in Ahmedabad will be an extension to Infibeam Avenues Ltd’s GIFT City AI-Hub. Currently, funded through internal accruals.

• Infibeam Avenues Ltd was bestowed with the honour of Fortune India ‘The Next 500 Award’, acknowledging its status as one of India’s top emerging companies in the IT and Fintech sector.

Experience the Bollywood Magic LIVE with Shahid Kapoor, Nora Fatehi, Malaika Arora, and Sunil Grover at 'SRARDOM' Concert!

MUMBAI,  5^th NOVEMBER 2023 (NHM):  Mumbaikars are all set to witness the first of its kind LIVE Bollywood show slated to be hosted on 20th January 2024. Talented artists across Bollywood, Music, Comedian will come together with their power packed performances at this spectacular event. ‘Stardom’, presented by Outcry Entertainment is set to redefine entertainment with an unparalleled line-up of curated dance and music acts by prominent Bollywood personalities, Shahid Kapoor, Nora Fatehi, Malaika Arora, and Comedian Sunil Grover. The evening will feature a star-studded line-up like never before!

What to expect:

• Power-Packed Dance Performances: Shahid Kapoor, Nora Fatehi, and Malaika Arora will set the stage on fire with their larger-than-life dance acts.

• Hilarious Comedy Acts: Get ready for a laughter riot as Sunil Grover takes on multiple characters in his side-splitting comedy acts.

• Non-Stop Entertainment: With 4 hours of non-stop entertainment, Stardom guarantees an evening packed with excitement and unforgettable moments.

• Grand Entries: Experience the grand entries of your favorite stars, adding to the overall glitz and glamour of the event.

•  Professionally Choreographed Acts: Witness professionally choreographed acts with an ensemble of talented dancers that will leave you mesmerized.

•  Ultimate Showdown Finale Act: Stardom concludes with a spectacular finale act that promises to be the ultimate showdown, leaving the audience breathless.

Moreover, the event will also witness high energy musical performances by the well-known music artists.

The event will also offer multiple bars and a food court to cater to all needs.

Commenting on the concert, Saurabh Chaudhary, Director and Founder, Outcry Entertainment said, "Stardom is an exceptional live Bollywood entertainment event concept that will debut with its first event in Mumbai. This event will create a one-of-a-kind experience, providing a space for the audience to come together and celebrate with their favorite artists while experiencing them perform live. With Stardom, we aim to set new standards in the world of entertainment by bringing together the most acclaimed Bollywood artists on a single platform."

Actor Shahid Kapoor enthusiastically expresses, "It's always exciting to do live stage shows because you get to interact with the live audience, which is my favorite part. I'm extremely excited to be dancing in Mumbai, which is my hometown, and performing live for the Mumbai audience. I can't wait to get on stage and give them an amazing night.”

Actor Malaika Arora says, “I have been performing live since many years now. Stage performance is something that instantly connects me to the audience, and I am happy when I do it. Waiting to share Bollywood magic right to you. It's time to celebrate the sheer joy of Bollywood with an unforgettable show!" 

Actor Nora Fatehi mentions, "I am excited to be a part of Stardom. Live performances are something that I thoroughly enjoy as an artist. That's where the magic of storytelling truly comes alive, where we connect, inspire, and share our souls with the audience that's right there, in the moment with us. It's time to rejoice again with a mesmerizing show.”

Comedian and Actor Sunil Grover says, “I feel comedy is all about right timing at the right time. Performing LIVE on stage has always been special to me. The instant feedback from the audience is a game-changer, and it helps refining my act. Glad to be a part of Stardom, where I will be showcasing few of my favourite acts for the crowd.”

Don't miss your chance to be a part of the most electrifying Bollywood live event in Mumbai. Stardom is where the magic happens, where Bollywood comes alive, and where you'll create memories that last a lifetime.

For ticket information and details, visit https://in.bookmyshow.com/mumbai/events/stardom-biggest-bollywood-live-experience/ET00370038 ENDS

 

 

 

 

Bank of Baroda Q2FY24 net profit up 28% to Rs 4,253 cr

Debadatta Chand,  Managing Director and Chief Executive Officer (CEO), BoB

MUMBAI, 4th NOVEMBER, 2023 (NHM):  State-run lender Bank of Baroda (BoB) recorded a 28.4% increase in net profit in the second quarter of the FY24 at Rs 4,253 crore, compared to the same period last year.During the quarter under review, the net interest income (NII) also saw growth, rising by 6.5% to Rs 10,831 crore, up from Rs 10,174 crore in the corresponding period of the previous year.

However, the bank's net interest margin (NIM) decreased to 3.07% in Q2 FY24, down from 3.33% in Q2 FY23.The bank adjusted its NIM guidance for FY24 to 3.15% (with a possible fluctuation of five basis points) from the previous estimate of 3.3%.

This revision was attributed to changes in cost factors, specifically an increase in the cost of funds, as explained by Debadatta Chand, the managing director and chief executive officer, BoB during a media briefing following the Q2 FY24 results.

The non-interest income, which encompasses fees, commissions, treasury income, and recoveries, surged to Rs 4,171 crore in Q2 FY24, compared to Rs 1,826 crore in the previous year.

BoB's provisions for non-performing assets (NPAs) and bad debt rose to Rs 2,285 crore in Q2, up from Rs 1,654 crore in the same period last year.

The bank's advances showed a year-on-year growth of 17.3%, reaching Rs 10.24 trillion in Q2 FY24.

In the same period, its retail loans expanded by 22.2% to Rs 1.93 trillion.

Within the retail book, the personal loan portfolio experienced a significant growth of 67.2% year-on-year, amounting to Rs 25,618 crore.

Debadatta Chand emphasised that although there have been concerns in the system about the growth of unsecured loans, BoB's portfolio of personal loans remains stable with minimal stress.

However, as a precautionary measure, the bank plans to conduct a portfolio review and slightly reduce the pace of loan growth in the personal loans segment to around 30%.

The total deposits increased by 14.6% year-on-year, reaching Rs 12.49 trillion. At the end of September, the share of low-cost deposits (current account and savings account, or Casa) was 38.28%, slightly down from 39.57% the previous year.

The asset quality profile improved, with gross NPAs decreasing to 3.32% in September from 5.31% a year ago. One airline exposure (Go First) was identified as a non-performing asset (NPA) and a 100% provision was made for it. This account was already under stress and turned into an NPA in Q2.

Net NPAs decreased from 1.16% in September 2022 to 0.76% in September 2023.

The provision coverage ratio also improved, rising to 93.16% in September from 91.73% a year ago.Ends

Paytm brings exciting travel discount, free cancellation, 100% refund policy and more for your train and bus ticket during Diwali

MUMBAI, 4th NOVEMBER, 2023 (NHM): As the festive holiday of Diwali approaches, there is a growing excitement to celebrate it with family and friends travelling to their hometown or exploring a new city creating lasting memories. This Leisure travel during Diwali is now possible with affordable travel deals on online bookings of train and bus. Paytm has exciting offers and services for a unique trip experience that can be arranged in minutes. The platform is a one-stop solution that gives you the privilege to plan an affordable trip on your own with an enhanced travel booking journey.

Here’s how you can plan your travel with Paytm in a budget friendly way. 

Up to ₹500 off on bus tickets

To enjoy your festive holidays at an affordable cost, Paytm is offering up to ₹500 off on bus ticket booking through its platform.  

Live bus tracking services 

For safe and hassle free travel, Paytm is offering a live bus tracking service that ensures users can travel at ease and stress free while also sharing the real time location of their booked bus with their close.  Also, with Paytm’s Best Price Guaranteed feature, Paytm assures users of the lowest price across 2,500 bus operators. 

Free train ticket cancellation and instant refund 

Through Paytm platform, users can now cancel their train ticket, six hours before their departure or chart preparation whichever is earlier, hassle free and also get an instant full refund on their source account without having to state the reason for the cancellation. Most important thing is that users don’t have to wait for days to receive their refund. The feature is available for all types of train ticket bookings including tatkal tickets. 

Zero charges on train ticket 

On train ticket bookings, users can book tickets on UPI with an advantage of zero service & payment gateway charges. This leverages users from paying additional charges and saves money.  

Live train status 

Passengers can also check the live train running status and PNR status on the Paytm app which enables them to travel at ease and stress free. 

Paytm is also the authorised partner of Indian Railway Catering and Tourism Corporation (IRCTC) and has empowered its users with a seamless and superfast train ticket booking experience. Booking travel tickets through Paytm app provides a seamless experience with free cancellation, 100% refunds, travel insurance, easy & quick booking, exciting cashback and 24/7 customer assistance.Ends