Archive: July 14, 2022

Delhivery Gains a second patent for its proprietary UAID system…

India, July 2022: Delhivery, India’s largest and fastest-growing fully-integrated logistics services provider, has been awarded a US Patent – US 11,381,928 B2 (45). The patent – ‘System and method for assigning a unique identification for an address,’ covers Delhivery’s innovation in uniquely identifying different forms of the same address.

This is the second patent that the company has been granted following the Addfix announcement.

Delhivery receives the same address in varying structures and spellings from different channels. The unique address identification system (UAID) breaks down and compares each new address string with a previously serviced location, allowing us to map the delivery time accurately, bundle packages for the same address, and drive greater service efficiency.

Commenting on the announcement, Kapil Bharati, Executive Director, and Chief Technology Officer, Delhivery, said, “Serving over 23000 clients, we encounter unstructured data on a day-to-day basis. The two patents help us to improve the legibility of locations and addresses and reiterates our commitment to invest in proprietary AI/ML capabilities that can drive high precision logistics operations in any geography.”

Adding to this, Rajiv Dinesh, Head – Data Products, Delhivery, said, “Every time we make a successful delivery or pickup, we collect rich information on location, delivery time, property type, etc. Our machine learning systems help us identify that Delhivery Ltd, Sec – 44 Gurugram -122001 is referring to the same address as Delhivery, Plot 5, Sector 44, Gurgaon, near Taj City Center – 122003, which has been serviced before. Using the data intelligence from over 1.4bn parcels fulfilled since inception helps us deliver accurately, efficiently, and on time.

With rise in the number of opportunities and openings, job opportunities in FY22 is significantly growing: Talent Insight report

Mumbai, June 2022: Leveraging its matchless network, incredible wealth of data and deep-rooted understanding of the job market, Shine.com, India’s second-largest job search platform, has unveiled the latest ‘Talent Insights’ report revealing optimistic yet consequential employment trends in the fast-growing Indian market. The report highlights that compared to FY21, the number of employment opportunities and openings has significantly boosted the opportunities in FY22. In fact, the job market in April-May 2022 has witnessed a massive boom as opposed to the same period last year.

Furthermore, the report also revealed that 48% of the companies intend to start functioning from the office in 2022-23, while 40% prefer the hybrid model and the rest 12% are happy with the work-from-home approach. Moreover, the report underscored the noteworthy shift in hiring trends. 81% of the companies admitted that hiring has increased in non-metro towns. This is primarily due to the remote working facilities and offices shifting to non-metro areas because of cost-cutting opportunities and expansion possibilities. This hiring trend is remarkably more pronounced in the cases of new-age startups.

Akhil Gupta, CEO, Shine.com said,“’We thank our vast network of HR professionals, who have shared their valuable inputs and helped us launch first Mint + Shine Talent Insights. The report covers not only hiring trends across geographies and sectors, but also softer aspects such as talent attrition and salary increments. We aspire to keep evolving this over time and bring more relevant insights to broader HR fraternity and job-seekers alike.’’

The increment section is the best part of the report for professionals and job seekers alike. According to Shine.com’s ‘Talent Insights’ report, in three out of four cases, employees can expect double-digit increments this financial year, whereas one-third of the cases are forecasted to get more than 20% increment.

The report also sheds light on the rapidly changing zonal, state, city and sector-wise hiring trends and key skill areas and profiles dominating the contemporary job market. Here’s a quick view of the same:

● Zonal and State contribution to employment opportunities: FY21 vs FY22

According to Shine.com’s report, while the zonal contribution to employment opportunities has remained more or less the same in the last two years, the South (41%) still has the most considerable portion of the pie. It is followed by North (26%), West (19%), and East (13%).

In terms of state contribution, the top three contenders are Maharashtra, Karnataka and Tamil Nadu, which have remained in their position during this period. It is pertinent to note that more than one-third of the total employment opportunities emerge from these states.

Similarly, metro (40%) towns have retained the lion’s share of the job market. However, there’s also been an increase in the share of below 1 lakh population towns in the FY22 job market.

● Sector-wise employment opportunities: FY21 vs FY22

Though the IT sector has maintained its position as the leading contributor of job opportunities, it has witnessed a slight decline compared to the last financial year. However, it is nothing compared to the manufacturing sector, which saw a massive drop-down of 11%.

On the other hand, the Banking, Financial Services, and Insurance Sector (BFSI) has gained significant traction and registered a 6% increase in overall employment opportunities. In addition, the construction, recruitment, shipping and education sector’s contribution to overall employment opportunities is also on the rise.

● Leading job markets and city-wise preference

According to Shine.com’s report, half of the recruiters consider Bengaluru the top-tier job market in India. However, regarding city-wise hiring preferences, Bengaluru, Delhi NCR and Mumbai are almost equally favoured. Apart from these three high-end cities, Chennai and Jaipur are also becoming increasingly popular in the eyes of modern-age recruiters.

● In-demand skills vs Trending profiles

Across all sectors, MNCs, corporates, start-ups and others, digital marketing (38%) is the most sought-after skill. It is followed by programming languages (IT Python), cloud computing and DevOps, whereas the third most popular skill is expertise in Artificial Intelligence and Machine Learning. On the other hand, in terms of the most notable job profile, the crown is bestowed on the Data scientist (50%). It is followed by Cloud Architect (20%) and Blockchain Engineer (10%).

Vijay Nair, Vice President and Marketing Head, Shine.com, said, “The post-pandemic job market in India is flourishing at twice the speed. In particular, new and dynamic skills and digital integration have boosted the job market by leaps and bounds. Shine.com’s latest ‘Talent Insights’ report unveils a comprehensive map of how the Indian job ecosystem is progressing in these unprecedented times. Shine.com has always strived to equip job seekers and fresh graduates with reliable insights, data and all-inclusive views to take the right career path. This report provides job market stakeholders with undeniable proof of where the employment sector is headed. Professionals, both first-timers and established ones, can assess these trends and make informed job-related decisions.”

Edelweiss Asset Management Introduces Edelweiss Focused Equity Fund…

Chennai, July 2022: Edelweiss Asset Management Limited, one of India’s fastest growing asset management companies, has announced the launch of a new fund ‘Edelweiss Focused Equity Fund’. As the name suggests, this is a focused equity scheme that aims to create a curated portfolio of 25-30 potentially promising stocks spread across three key investing opportunities of brands, market share gainers, and innovators. Further, the fund is both market-cap as well as sector agnostic, thereby enabling investors to capitalise upon a wider spectrum of opportunities.

The fund’s approach of creating a concentrated portfolio of robust stocks that are tied to these three investing ideas can potentially help investors capture both prevailing as well as emerging opportunities and generate reasonable returns over the long-term. From an investment approach perspective, the fund aims to invest in both established as well as emerging brands, companies that either have significant market share or the potential to increase market share, and innovators and disruptors.

Radhika Gupta, MD & CEO Edelweiss Asset Management Limited said, “India is set for one of the best periods of business growth and transformation driven by several factors including compelling demographics, enabling regulation, strong manufacturing push, and accelerated digitisation. We believe that some key opportunities that are likely to dominate future growth will be tethered to investment opportunities like brands, market share gainers, and innovators and disruptors. To optimally capitalise upon these, we are launching the Edelweiss Focused Equity fund that will take concentrated exposure to companies within these three investing opportunities. We have always been very selective in launching new funds and have done them at the right time. Last year, we saw both markets and valuations stretching and took a conscious decision to avoid launching any new active equity funds. However, we believe that the current market landscape, post a significant correction, is ripe for such an offering and have thus chosen to launch this NFO.”

Trideep Bhattacharya, CIO-Equities, Edelweiss Asset Management Limited said, “The Indian economy is poised to grow at a strong clip as a host of factors such as rising household income, supportive government policies, increasing consumption, and thrust on manufacturing and infrastructure are giving rise to compelling business and investment opportunities. Keeping this in mind, we are launching the Edelweiss Focused Equity fund, which is designed to add unique value to investor portfolios through curated exposure to select investment opportunities, i.e., brands, market share gainers, and innovators and disruptors.”

Trideep added, “As India grows and the factors mentioned above align, we expect strong existing and emerging brands to capitalise upon these opportunities and expand their footprint. Further, companies that have a strong operating leverage or distinctive moats can gain market share and witness earnings growth and expansion. And lastly, with accelerated innovation, we expect to see new companies disrupt existing ecosystems and generate exponential value. Our fund aims to invest across all the above opportunities that are relevant to India in its current stage of evolution.”

The benchmark for the fund will be NIFTY500 TRI. The Edelweiss Focused Equity Fund will open for subscription between 12th to 25th July 2022 and offers both direct and regular plan. The Fund will be managed by Trideep Bhattacharya, CIO-Equities, Abhishek Gupta, Fund Manager, Edelweiss AMC.

Funskool India acquires license from Green Gold to manufacture and distribute Action Figures of Chhota Bheem & Friends…

New Delhi, July 2022: Funskool India Ltd., India’s leading domestic toy manufacturer has made a landmark move by acquiring the license to manufacture and distribute the popular action figure Chhota Bheem and other seven characters from the famed cartoon animation series.

Funskool has obtained the license to launch the series of action figures from Green Gold Licensing & Merchandising India Private Limited.

Green Gold Animation, a pioneer in creating original Indian animation content has over the years transcended and established as a prominent player in Licensing & Merchandising, Movie Production & Distribution, Digital Business, Retail Stores and Events.

Chhota Bheem, the famous cartoon animation character has always struck a chord with Indian Children and Funskool through the manufacturing of the Chhota Bheem & Friends action figures in India has once again proved that India is moving towards being “Atma Nirbhar” in manufacturing of quality toys. Funskool has been leading the way in pro-actively and consciously choosing to promote the Make-In-India programme and the acquisition of Chhota Bheem & Friends has been a step in the right direction.

Commenting on the latest launch, R Jeswant, CEO – Funskool India Ltd., said, “We are excited to add Chhota Bheem to our well established manufacturing and distribution capabilities. Our existing scale and distribution network establishes an ideal platform to achieve the full potential of Chhota Bheem in India and will address the significant unmet needs of the portfolio of products.”

Samir Jain, Executive Director & COO – Green Gold Animation Private Limited., said, “When it comes to manufacturing high quality and toxin free toys for children, there is no substitute for Funskool in India. We are immensely pleased with licensing Funskool India with manufacturing and distributing Chhota Bheem and other 7 action figures. With its expansive distribution network prowess, we are confident that Chhota Bheem Action figures will reach to every child in the country”.

XTB Research among the best market forecasters

UAE, July 2022 – The XTB Market Research Department, which spans offices around the world including a Dubai office located in the DIFC, can boast of great results in the prestigious Bloomberg FX Forecast Accuracy Rankings. XTB analysts turned out to be the best in their forecasts for CEE currency pairs. But that’s not all. Based on all the accuracy of the analysis, XTB turned out to be in the top of global ranks.

The rankings produced by Bloomberg are considered the highest recognition in the financial industry. These are updated quarterly and include forecasts published by the largest global financial institutions, including Barclays, BNP Paribas, JP Morgan. The latest edition of the ranking was published at the end of the second quarter of 2022 and includes the most accurate forecasts of the past 12 months.

XTB has built on the momentum to rank 2nd in G10 category and 3rd in 13 Majors category in Bloomberg’s global poll. On top of that XTB Research Team also proved their quality of market predictions for emerging markets. They turned out to be the best in their forecasts for CEE currency pairs: EURPLN, USDCZK, EURHUF. That also led them to the 3rd position in the rank of emerging markets.

The distinguishing feature of XTB is education and providing investors with a rich knowledge base including analyzes, market notifications and the latest information. Everyone can have access to the knowledge of XTB analysts, as almost every day the company provides customers with a new portion of knowledge about the market. In addition, XTB has over 170 hours of educational recordings with the participation of the best experts like Farah Mourad, Senior Market Analyst at XTB MENA.

Farah Mourad is specialised in Middle Eastern, European, Asian, and American financial markets. She holds a master’s degree in communications and has over six years of experience in the news broadcasting industry.

As a trader and market enthusiast herself, she gravitated into the financial sector, working for international brokerages, and deepening her experience in the financial market and educating clients about investments.

Ayekart Signs an MoU with SERP, Department of Rural Development, Government of Andhra Pradesh to Strengthen local SHGs and FPOs…

India, July 2022: With an objective to give a boost to the Self-Help Groups (SHG), Farmer Producer Organizations (FPOs) and the farming community of Andhra Pradesh, Ayekart, India’s first integrated tech platform signed a Memorandum of Understanding (MoU) with Society for Elimination of Rural Poverty (SERP). As part of the MoU, both the organizations will cooperate in collaborative projects for the commercialization of embedded technology related to Agri and Food processing at various levels of the value chain for boosting the domestic and export of Agri products.

SERP, the Government organization of Andhra Pradesh for Rural Development is dedicated to facilitate poverty reduction through social mobilization and improvement of livelihoods of rural poor in the State. It also aims to create scalable opportunities in rural areas, find digital solutions, skills and guide rural communities to meet their aspirations by building Agri-entrepreneurs. For the purpose, the SERP seek support from Ayekart through MOU to bring model / light house FPOs and input shops run by SHGs on self-sustaining mode and digitizing the SERP rural marts. The strength of this mammoth organization is the unique structure, the community based by organizing with 69,31,113 rural women into 6,52,440 SHGs, 26,753 Village Organizations, 656 Mandal Samakhyas and 13 Zilla Samakhyas.

The signing and exchange of MOU was done between the President, AYEKART and CEO, SERP in the presence of Shri Mutyala Naidu, Hon’ble Dy. Chief Minister and Minister for Panchayat Raj & Rural Development, GoAP and all the SERP team. While acknowledging the great deal of activities by Amit Kumar Singh, particularly in the areas of value addition, strengthening the FPOs by finding markets by harnessing the market potential, the CEO requested and that the SERP is expecting a lot in near future from AYKART in the collaborative areas and in women empowerment. It was reiterated by the President, Ayekart that it will aligns with the objectives of the Government to bring in the desired change in the SME, MSME, Retail segment by “Empowering the Traditional Business” and help in bringing transparency and credibility to the entire ecosystem.

Commenting on the joint initiative, Mr. Debarshi Dutta, Co-founder & CEO, Ayekart said, “We are extremely pleased to announce the signing of this MoU with AP State Government. At Ayekart, one of our key mottos is to digitize the food and Agri value chain of India, help rural FPOs and empower them. We are passionate about the traditional businesses, building an inclusive e-commerce ecosystem and constantly innovate to find new ways to uplift and empower all sections of society, especially MSMEs. This partnership with SERP will be channelized through the FPOs and SHGs of Andhra Pradesh through the digitally synced supply chain and uplift their overall performance, providing required assistance and support through input stores and SERP rural marts. This will provide the local rural farming communities and SHGs to access a wider market for their produce and create a conducive and digital ecosystem while boosting their income via integrating the processes, increasing the variety of farm produce, building market linkages, technical advancement, etc.”