Jet Airways Celebrates the 25 Years of Joy of Flying

By Tricitynews

Chandigarh 09^th May:- Jet Airways, India’s premier full service international airline celebrates the momentous milestone of 25 glorious years of service on the 5^th of May 2018.

Credited with transforming the face of Indian aviation, Jet Airways first flight 9W321 took off on the 5^th of May 1993 from Mumbai to Ahmedabad, marking its humble journey of ‘Connecting India to the World.’

From a modest beginning of a fleet of 4 aircraft serving 6 destinations in early 1993 - to its present day fleet of a 119, serving over 450 destinations globally along with its partner airlines; Jet Airways has been privileged to play a modest role in contributing to the growth of the Indian economy by enabling and facilitating passenger and freight businesses pan-India as well as internationally, and as significantly, fostering the growth of trade and tourism across India and the world.

The airline’s brand and service philosophy defined personally by its Chairman, Mr Naresh Goyal characterized by warmth, care and personal attention also brought to life the spirit of Indian hospitality. Investing significantly to fulfil its product and service experience, Jet Airways’ immaculately trained its frontline employees, helping redefine service professionalism in the country, creating a culture of talented professionals who have earned the trust of its guests, both on ground as well as in the air. The airline’s unique service philosophy also helped it emerge as an iconic Indian brand to create a name for itself on the global arena, providing guests the finest hospitality in the skies.

On the occasion of the 25^th Anniversary,  Naresh Goyal, Chairman, Jet Airways’ Group said that this day represents an unforgettable milestone and is a mix of emotion and elation for us all. We are both humbled and honored by the overwhelming trust, support and appreciation received from our Guests over the years, as we fondly recall the first steps we took on what has been a truly exciting journey in bringing the Joy of Flying to millions of our Guests. It gives me great pleasure to reaffirm our commitment to them and to our vision of connecting India to the world.

He added further that our partners also deserve a special mention for their consistent support that has surpassed our expectations. He also acknowledges the unwavering support of the Government towards opening up and promoting Indian aviation, facilitating greater access for travelers everywhere. Finally, he expresses his deep gratitude to each and every member of the Jet Airways family, without whose untiring efforts, this milestone and our success would not have been possible.

In its Silver Jubilee year, Jet Airways will be celebrating across its global network, on ground and in the air in its endeavour to thank the airlines’ family of over 16,000 employees and to convey gracious appreciation to its valued guests for their continued patronage, support and trust.

Gala Fashion Extravaganza Celebrated Beautiful Makeovers and High Couture Fashion.

By Tricitynews

Dehradoon 09^th May:- Up-scaled fashion & stunning makeovers illuminated the city of Dehradoon in all its glory and sheen with Fashion extravaganza ".INDIA COUTURE LIFESTYLE FASHION WEEK 2018 that took place at Hotel Madhuban, Rajpur Road. Splendid line of high couture fashion celebrated gala showcasing with  distinct designs and trend setting looks that took direction to chart through contemporary and global course of high couture fashion.Two day long fashion extravaganza remained high on fashion finesse with play of colors, fabric, silhouettes and beautiful makeovers.

Event was organised by Vibhor Gupta and Gaurav Gupta from VG FASHION ENTERTAINMENT and witnessed participation of models, designers, ace makeover experts and buyers from all over India. Veteran designers were roped in to dress inspiration from vast world of fashion and distinct sensibility of culture of India. Interesting interpretation transformed looks of models as  Ace makeover expert Mallika Gambhir's, Persona Salon, Delhi and HER N SIR, Dehradoon and Ghaziabad created intricate, dramatic and innovative makeups and elaborate hair styles that offered a phenomenal show.  Mallika Gambhir reinterpreted interesting and intricate detailing through makeovers that gave a phenomenal experience. Super model Deepti Gujral played muse for ace makeovers expert Mallika Gambhir as she created bold yet poised, beautiful and playful looks. Beautiful makeovers dived into era of regal nuances with strong yet subtle shades that played beautiful juxtaposition of ethereal fashion and strong silhouettes, tastefully tailored dressed with dramatic volume offered mix of glitzy attires. Mallika Gambhir, building on the association with fashion week further took passion of makeovers a notch higher and unveiled stunning line of statement looks with celebrity designers like Nick Roshan, Khushbu Davaray, Kingshuk Bhaduri, Nitin Singh and celebrity designers Anjalee and Arjun Kapoor. Beautiful shoot was conceptualized and captured by Anand Studio Dehradoon.

Show reached its crescendo with Glamorous models walking the ramp. Super models Hidda Siddiqui, Kimmi Kukreti, Marichka, Neelam, Paola, Priyanka Khatri and Rashi Rao, Jatin Khirbt, , Saud Khan, Shahnawaz  added glam quotient to the event. Over 60 models from Delhi, Mumbai, Dehradoon and Rurkie walked the ramp.  Super model. Deepti Gujral and Bollywood actress Anushka Ranjan were show stoppers show stoppers for Anjalee Arjun kapoor and Tina Ranka and walked the runway in jaw dropping couture fashion. Show was directed by Shie Lobo and kapil Gauhri was the Choreographer. Designers from all over India showcased several designs by renowned fashion designers from Mumbai, Delhi, Surat, Kashmir, Assam and Dehradoon. Event showcased and featured maximized creativeness to set global benchmark. 

Intex Launches Unbreakable Smartphone Staari 10 on Snapdeal

By Tricitynews

Chandigarh 09^th May:- Intex, India’s leading handset manufacturer, today announced the launch of its first unbreakable smartphone Staari 10. The phone will be available exclusively on Snapdeal. The phone promises to up the entertainment quotient of its users.

It sports 5.2 inch HD IPS display for great visuals. The shatterproof glass makes it tumble friendly for ones who doze off while watching movies late night. The display comes with a one year replacement warranty.

Intex Staari 10 users can also take advantage of 13 MP rear camera and 5 MP front camera which also have flash. The 32 GB ROM which can expand up to another 128 GB makes sure there is enough space to store memorable moments.

The phone is powered with AndroidTM 7.0 Nougat, 1.3 GHz Quad-core processor and 3GB RAM to make multitasking more easily. The dual SIM phone also has a one touch access with fingerprint sensor. 

Currently, it is available in vibrant shades like Glossy Black, Champagne and Blue.

Priced at Rs 5999, the phone will be sold exclusively on Snapdeal. Jio users get cashback of Rs 2,200, which is included in the Jio Football offer.

Magma Fincorp Ltd.: Q4 FY 18 Disbursals up by 51%, NIM at 9.70%, up 212 bps Q4 PAT at 71.5 crs

By Tricitynews

Chandigarh 09^th May:- Leading asset finance company, Magma Fincorp Limited today announced the Q4 and FY 18 results that reflected robust growth in topline as well as PAT. The highlights for the year were the impressive growth in Q4 disbursals for all businesses lines, robust collection and significant reduction in NPA. The Q4 FY 18 disbursals grew by 51% and NIM for the quarter was recorded at 9.7%, up 212 bps, on YOY basis. On back of higher Earning assets and lower Cost of Funds, the company recorded Profit After Tax (PAT) for Q4 at Rs 71.5 crs, and for the full year, at Rs 230.4 crs. The all-round performance has laid a solid foundation for a significantly higher growth in FY19.

Magma’s ABF disbursements recorded a growth of 58% YOY. As per Magma’s stated strategy, growth was led by Used assets at 77% YOY, followed by Commercial Vehicles at 174% and Construction Equipment at 93%. Magma also increased Tractors disbursement by a moderate 29%. Further, the current model of branch banking and deeper touch with the existing customers by the field executives has resulted in higher share of direct business at 37% of overall disbursals compared to 26% in FY 17.

Unsecured SME lending continued to perform well during FY18 in spite of two adverse impacts, first of demonetization and thereafter the GST roll out, and has achieved YOY disbursement growth of 41%. This division continues to produce the highest RoA on a consistent basis. During the year the company expanded SME lending coverage to 61 branches from 50 branches in FY17. The company intends to move deeper with focus to the Tier II and III towns within the existing ABF network and increase contribution of Direct Sourcing.

In the mortgage business, Magma adopted the Mantra of Go Direct, Go Home Loan and Go affordable. The company successfully reduced its average ticket size to Rs. 12-13 lacs catering mainly to the affordable housing segment. Magma today operates in the ticket size of Rs. 5.0 lacs to Rs. 30 lacs and max up to Rs. 50 lacs in Home Loans segment. Overall, in Home Finance business, the company was able to register a disbursement growth of 23% YOY in FY18

The General Insurance business of Magma HDI General Insurance Co Ltd. (joint venture of Magma Fincorp and HDI Global of Germany) registered an overall growth of 32.5% during the year and 47% for Q4FY18 in its Gross Written Premium. The company improved its combined ratio from 123.8% to 120.7% during the year and achieving 114.3% during Q4.

Remarkable improvement in the asset quality was the highlight of the year, the Company achieved significant reduction in GNPA and NNPAs despite adopting to 90 DPD regime. The GNPA at 90 dpd stands at 7.0% as on 31 March 2018. For like to like comparison, the number at 90dpd was at 8.8% as on 31.03.2017. Similarly, company’s NNPA has come down to 5.2% as on 31^st March 2018 against 7.5% as on 31 March 2017. The PCR at 90dpd stands at 27.2%, compared to 17.7% at 120dpd as on 31^st March 2017.

The total Capital Risk Adequacy Ratio (CRAR) for FY18 was 20.7 %, against the RBI stipulated norm of 15% for non-deposit taking Asset Finance Companies. The recent capital infusion through Qualified Institutional Placement has further strengthened our Tier 1 capital adequacy and currently its stands at around 25.4.

The company, to enhance customer experience and continuous customer engagement  has undertaken series of initiatives like, Automated credit decisioning, 360 degree customer view across all business, best in class customer onboarding experience using India stack, enhancing available modes of payments through, wallets, payment banks, UPI, net banking and gradually moving to e-communication to name a few.

Commentating on the company’s performance, Sanjay Chamria, Vice Chairman and Managing Director, Magma Fincorp Limited said that he feel extremely happy to share that Financial Year 2018 has been an excellent year for the Company. We are focused on financing to the bottom of the pyramid as our ABF, LAP and SME businesses provide means of earning to the rural area. While our top line grew significantly on all businesses, the collections performance was extremely heartening. The combined efforts of the team led to a great Q4 and he is confident we will be able to maintain the momentum and accelerate in FY19.

The Government is focused on uplifting the rural economy and strengthening of the agriculture sector, which coupled with the IMD’s prediction of normal rainfall this year is expected to boost rural economy in FY 2019.  Envisaging this vast opportunity and to make ourselves growth ready, we raised additional capital of Rs 500 crs at the beginning of the Financial Year 2019 through Qualified Institutional Placement(QIP).

Happy Goyal Pictures Announced Its Maiden Punjabi Flick “Marriage Palace”

By Tricitynews

Chandigarh 09^th May:- After being global, the Punjabi Film Industry is proceeding with films which carry a different zone, a different track, lot of comedy movies with beautiful punches and jokes which actually tickle your stomach and of course the films which carry a message which is a good sign for the rise of the Punjabi Cinema. And under the series of comic films another feather is going to be added with name as “Marriage Palace” which will be directed by Sunil Thakur. The film will be made under the banner of Happy Goyal Pictures and its Producers are Happy Goyal and Harsh Goyal. . The star cast of the film includes Sharry Maan, Payal Rajput, Jaswinder Bhalla, BN Sharma, Sumit Gulati and Umang Sharma. The story, screenplay and dialogues of the film has been written by well know writer Rakesh Dhawan. The Project Designer and Co-Producer of the film is Shubham Chandrachur.

The announcement of the film was done by its team here today. Versatile singer, Sharry Maan, lead actress Payal Rajput along with with Producers Happy Goyal and Harsh Goyal and the Director Sunil Thakur interacted with the media on this film announcement which is going to be made under the banner of Happy Goyal Pictures and for which the shooting is going to start from 25^th June, 2018.

The Director, Sunil Thakur, said that we can’t reveal much about the story of the film at this moment but this film is going to be a mixture of entertaining punches and jokes which is going to be enjoyed by the audience. He further added that he believes that film making is the greatest art and there is an unlimited scope of experiment and innovation for which he is completely ready now.

The lead Actor Sharry Maan, said that we are happy to announce this film under this maiden Production House, Happy Goyal Pictures and about the movie as the name says, “Marriage Palace”, he is sure that this one will entertain the audience to the to the fullest.

The lead actress, Payal Rajout also added that she is happy to be a part of this film and act with this versatile and melodious singer Sharry Maan, in hope that this movie will do good the whole team.

Producers, Happy Goyal and Harsh Goyal said that they are proud to get associated with a team like Sharry Maan, Payal, Rakesh Dhawan, BN Sharma and Jaswinder Bhalla and look forward for a good cinema.

The shooting of the film will be done in and around Punjab.

Manpreet Badal Inaugurates Max Speciality Films New Manufacturing Line

By Tricitynews

Chandigarh 09^th May:- Max Speciality Films Limited (MSFL), one of India’s leading manufacturers of BOPP packaging films, launched its fifth BOPP films manufacturing line (Line 5) here today thus significantly increasing its capacity from 46.35 KTPA to 80.85 KTPA. The new line was launched at a special inaugural ceremony by Manpreet Singh Badal, Finance Minister, Punjab.

MSFL’s Line 5 is designed to meet trends for recyclability, ultra high barriers and print receptivity. The line will be able to manufacture thicker films with advanced properties making it environment-friendly since it is conducive to recycling and reducing the usage of plastic per pack.

The launch of Line 5 is the second significant growth initiative undertaken by Max Ventures and Industries Limited (MaxVIL) (BSE: 539940 | NSE: MAXVIL), through MSFL, within the last one year as part of its ongoing effort to rejuvenate the manufacturing business. In February 2017, the Company had brought in Japan’s Toppan Printing Co. Ltd. (Toppan), as a strategic investor and partner in MSFL to share their expertise in managing a global speciality films business, as well as, leveraging their global sales network. As part of the partnership, Toppan had invested approximately INR 198.78 crore, through a combination of primary and secondary share issuance for 49% equity share in MSFL.

Speaking on the occasion, Manpreet Singh Badal said that the Max Speciality Films facility is one of the oldest in the region, but also one of the most modern. Over the past 3 decades, the facility has built a sound and sustainable ecosystem in its neighbouring areas, creating jobs and contributing generously to local communities as part of its CSR efforts. It also serves as a model for worker welfare and maintaining a cordial work environment. Industry needs to play a proactive role in the development of Punjab and this new facility is a welcome step. He convey his best wishes to the Max Group on their new facility and hope that they will continue to contribute towards the upliftment of their catchment.

Sahil Vachani, Managing Director and CEO, MaxVIL said that at MaxVIL, it has been our consistent endeavour to reinvigorate the manufacturing business, especially against the backdrop of the Government’s ‘Make in India’ thrust, and help differentiate it through strategic innovation in an increasingly crowded and competitive market. MSFL is among the leading manufacturers of value-added BOPP films in India, fulfilling the requirements of some of the world’s most popular clients. Armed with an augmented production capacity and Toppan’s expansive global sales network and technological capabilities, he believes MSFL will greatly benefit from the resulting economies of scale.

Ramneek Jain, CEO of Max Speciality Films said that with the introduction of Line 5, we expect to benefit from a reduction in our cost per unit. Further, the versatility of the layout will accelerate the expansion of the company’s portfolio of specialty films across two key business areas: packaging and labeling.

MaxVIL is one of the three listed flagship companies of the Max Group, and is promoted and founded by Analjit Singh. MaxVIL was incorporated in 2015. In FY 2016, the Board of Directors of Max Financial Services Limited (erstwhile Max India Limited) approved a corporate restructuring plan that resulted in the demerger of the various business verticals of Max Financial Services Limited, through a scheme of demerger (“Scheme of Demerger”), into three separate listed companies: Max Financial Services Limited, Max India Limited (erstwhile Taurus Ventures Limited) and MaxVIL.

Walmart to Invest in Flipkart Group

By Tricitynews

Chandigarh 09^th May:- Walmart Inc. (NYSE: WMT) announced it has signed definitive agreements to become the largest shareholder in Flipkart Group (“Flipkart”). The investment will help accelerate Flipkart's customer-focused mission to transform commerce in India through technology and underscores Walmart’s commitment to sustained job creation and investment in India, one of the largest and fastest-growing economies in the world. Subject to regulatory approval in India, Walmart will pay approximately $16 billion for an initial stake of approximately 77 percent in Flipkart, formally Flipkart Private Limited. The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart cofounder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp.

While the immediate focus will be on serving customers and growing the business, Walmart supports Flipkart’s ambition to transition into a publicly-listed, majority-owned subsidiary in the future.

Doug McMillon, Walmart’s president and chief executive officer said that India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of eCommerce in the market. He said further that as a company, we are transforming globally to meet and exceed the needs of customers and we look forward to working with Flipkart to grow in this critical market. We are also excited to be doing this with Tencent, Tiger Global and Microsoft, which will be key strategic and technology partners. We are confident this group will provide Flipkart with enhanced strategic and competitive advantage. Our investment will benefit India providing quality, affordable goods for customers, while creating new skilled jobs and fresh opportunities for small suppliers, farmers and women entrepreneurs.

Binny Bansal, Flipkart’s co-founder and group chief executive officer said that this investment is of immense importance for India and will help fuel our ambition to deepen our connection with buyers and sellers and to create the next wave of retail in India. While eCommerce is still a relatively small part of retail in India, we see great potential to grow. Walmart is the ideal partner for the next phase of our journey, and we look forward to working together in the years ahead to bring our strengths and learnings in retail and eCommerce to the fore.

 Founded in 2007, Flipkart has led India’s eCommerce revolution. The company has grown rapidly and earned customer trust, leveraging a powerful technology foundation, including artificial intelligence, and emerging as a leader in electronics, large appliances, mobile and fashion and apparel. In a market where Walmart expects eCommerce to grow at four times the rate of overall retail, and with well-known platforms such as Myntra, Jabong and PhonePe, Flipkart is uniquely positioned to leverage its integrated ecosystem, which is defined by localized service, deep insights into Indian customers and a best-in-class supply chain. Flipkart’s supply chain arm, eKart, serves more than 800 cities, making 500,000 deliveries daily. In the fiscal year ended March 31, Flipkart recorded GMV of $7.5 billion1 and net sales of $4.6 billion representing more than 50 percent year-over-year growth in both cases. With the investment, Flipkart will leverage Walmart’s omni-channel retail expertise, grocery and general merchandise supply-chain knowledge and financial strength, while Flipkart’s talent, technology, customer insights and agile and innovative culture will benefit Walmart in India and across the globe. While Walmart and Flipkart will leverage the combined strengths of both companies, they will maintain distinct brands and operating structures. Currently, Walmart India operates 21 Best Price cash-and-carry stores and one fulfillment center in 19 cities across nine states in India, with more than 95 percent of sourcing coming from India, aiding suppliers, creating skilled jobs and contributing to local economies across the country. Krish Iyer, president and chief executive officer of Walmart India, will continue to lead that part of the business.

Mother’s Day: Anup Upadhyay Shared Heart Stirring Story

By Tricitynews

Chandigarh 09^th May:- We have all grown up with the belief that ‘God could not be everywhere so he made Mothers’. Mothers are like guardian angels, which shower endless love, affection and wisdom on their children. From cooking our favorite dish to spending quality time with us, from being a friend, tutor, guide, critic, she singlehandedly masters all her duties effortlessly and without complaining. Mothers are our first teachers and a valuable lesson taught by a Mother remains etched in our minds throughout our life. No matter how old we grow, the mother-child bond is the most cherished one and Anup Upadhyay, popularly known as Murari in Sony SAB’s Jijaji Chhat Per Hain reminisces his childhood, bond with his mother and a lesson learnt the hard way.

The talented Anup Upadhyay firmly believes that if a mother’s love is important so are her reprimands. He feels the guidance of a mother for right and wrong is a must even if it means taking strict disciplinary action. He is grateful to his mother for correcting him at every step of his life and instilling good values in him.

On Mother’s Day Anup Upadhyay alias Murari said that he remembers one incident when he was a very young, He stole twenty rupees from a temple. He was very excited and hid the money under his pillow. His mother later found the money and wondered where it came from. After he confessed to her that I stole it, he was scolded by my mother and punished for it. He realized his mistake and swore to never repeat it again. He learnt a valuable lesson for a life time.