YES BANK and Zaggle unveil next gen 'Co-branded Corporate Credit Card'

MUMBAI, 25 AUGUST, 2023 (APN):  Yes Bank has launched a co-branded corporate credit card in partnership with Zaggle, which specializes in spend management.

The card targets corporations that allocate a substantial portion of their company's budget to travel and entertainment expenditures. The co-branded card enables the company to control expenses directly by setting individual spending limits, imposing restrictions on merchant categories, and implementing various other controls. Cardholders can access various perks, from rewards and golf privileges to lounge access and travel insurance.

Mr. Rajan Pental, Executive Director of Yes Bank, said the partnership with Zaggle empowers businesses to enhance their operational efficiencies by consolidating banking transactions, managing company expenditures, and tracking business-related overheads through a single platform.

Mr. Avinash Godkhindi, MD & CEO of Zaggle, said there was a growing demand for real-time analytics to manage expenditures better. He said that the integration of Zaggle ZatiX, Zaggle's spend management and analytics platform, with the YES BANK Zaggle Corporate Credit Card aims to fulfil this need.

Zaggle collaborated with Yes Bank for prepaid cards in 2016, before the RBI-initiated restructuring in 2019. Established in 2011, Zaggle operates in the business-to-business-to-customer segment.

YES BANK's track record in the fin-tech space is characterized by strategic tie-ups and initiatives that have fuelled the growth of start-ups by empowering them to thrive on the back of best-in-class banking solutions. This partnership stands as a testament to YES BANK's digital prowess, and shall contribute to the success of businesses in the digital era.Ends 

Calling all chicken lovers. KFC’s all chicken, no bun Double Down Burger is here for limited time only!

NATIONAL, 10th AUGUST, 2023 (APN): ‘Upar bhi chicken. Neeche bhi chicken.’ 

‘The chicken is the bun. The bun is chicken. ‘ 

Confused? Don’t be.

Presenting KFC’s limited-edition Double Down Burger. This all chicken, no bun burger is what a chicken lover’s dreams are made of!

The KFC Double Down Burger has two juicy chicken fillets with delicious sauces (spicy & creamy Dynamite Mayo and Sriracha), and crunchy veggies in between. Priced at INR 239/-, the Double Down Burger is unlike any other. Isse samjho mat, khao. 

Like everything else at KFC, the Double Down Burger comes with the assurance of KFC’s 5X Safety Promise of Sanitization, Screening, Social Distancing, and Contactless service with Vaccinated teams. All surfaces and frequently touched areas in a restaurant are regularly sanitized, team members and riders are screened regularly for their temperatures.

So, chicken lovers, what are you waiting for? It’s time to indulge your cravings with the limited-edition KFC Double Down Burger. Rush to your nearest KFC restaurant, or order online through the all-new app or website www.online.kfc.in while the offer lasts. 

About KFC

KFC, a subsidiary of Yum! Brands, Inc. (NYSE: YUM.), is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe more than 80 years ago, a list of secret herbs and spices scratched out on the back of the door to his kitchen. Today we still follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in more than 26,000 restaurants in over 145 countries and territories around the world.

For more information, visit https://online.kfc.co.in/

Kotak Mahindra Asset Management Company Limited launches Kotak S&P BSE Housing Index Fund

MUMBAI, 7^th AUGUST, 2023 (APN): Kotak Mahindra Asset Management Company Ltd (“KMAMC” / “Kotak Mutual Fund”) today announced the launch of Kotak S&P BSE Housing Index Fund, an open-ended scheme replicating/tracking S&P BSE Housing Index.

S&P BSE Housing Index invests in companies related to the housing theme. This index diligently measures the performance of common stocks within the S&P BSE 250 Large Midcap Index, categorized as part of the eligible common India Industry Classification. Constituents are weighted by float-adjusted market capitalization, subject to a single constituent weight cap of 5%. By closely replicating this index, the Kotak S&P BSE Housing Index Fund extends diverse investment opportunities to its investors linked to the housing sector. The fund presents a cost-effective and transparent approach to capitalize on the housing theme within the Indian stock market.

The scheme opens for public subscription on August 07th, 2023 and closes on August 21st, 2023.

 

Mr. Nilesh Shah, Managing Director of KMAMC said, “At Kotak Mutual Fund, our relentless pursuit is to offer our investors a wide array of investment solutions. The introduction of the Kotak S&P BSE Housing Index Fund exemplifies our dedication to providing products that cater to diverse risk appetites and investment horizons. This fund presents a unique opportunity for investors looking to capitalize on the potential growth in the housing sector and businesses that can benefit from the real estate boom. By launching this thematic index fund, we bolster our range of passive fund offerings, enhancing our overall portfolio of investment options.”

Mr. Devender Singhal, EVP & Fund Manager, Kotak Mahindra Asset Management Company Ltd. said, “The launch of the Kotak S&P BSE Housing Index Fund is in harmony with our steadfast dedication to providing a range of products tailored to suit various risk appetites and investment timeframes. This fund aims to present a compelling prospect for investors seeking to capitalize on the housing sector and enterprises that stand to potentially benefit from the expansion in the real estate domain. By introducing this thematic index fund, we intend to fortify our comprehensive array of passive fund offerings, thus bestowing upon investors a multitude of empowering opportunities.”

Past performance may or may not be sustained in future. The sectors mentioned do not constitute any kind of recommendation and are for information purpose only. Kotak Mahindra Mutual Fund may or may not hold position in the mentioned sector(s).For more details on the Kotak S&P BSE Housing Index Fund please visit: https://www.kotakmf.com/.

 

Investors may consult their financial expert before making any investment decision.

About Kotak Mahindra Asset Management Co. Ltd.

Kotak Mahindra Asset Management Company Limited (KMAMC) - a wholly owned subsidiary of Kotak Mahindra Bank Limited (Kotak), is the Asset Manager for Kotak Mahindra Mutual Fund (KMF). KMAMC started operations in December 1998 and as of 30^th June 2023, has approximately 50 lakh investor folios in various schemes. KMF offers schemes catering to investors with varying risk - return profiles and was the first fund house in the country to launch a dedicated gilt scheme investing only in government securities. The company is present in 90 cities and has 97 branches as of 30^th June, 2023.

For more information, please visit the company’s website at https://www.kotakmf.com 

UNION AMC APPOINTS Mr. HARSHAD PATWARDHAN AS CIO

Mr. Harshad Patwardhan, CIO, UNION AMC

MUMBAI, 4 AUGUST, 2023 (APN): Union Mutual Fund has appointed Harshad Patwardhan as the new Chief Investment Officer (CIO) of the fund house. 

Prior to this, Harshad was the CIO of Girik Wealth Advisors. Harshad has also worked with JP Morgan Mutual Fund and Edelweiss Mutual Fund as CIO.Harshad, a B.Tech graduate from IIT Bombay, a PGDM from IIM Lucknow, and a CFA charter holder from the CFA Institute has over 28 years of experience in research and portfolio management.

"We are delighted to welcome Mr. Harshad Patwardhan to our leadership team," said G. Pradeepkumar, Chief Executive Officer at Union MF. His deep-rooted understanding of capital markets and the investment process aligns perfectly with our mission to deliver consistent, long-term value to our clients. We are confident that his leadership will play a key role in enhancing the fund's performance and maintaining our commitment to creating value for our investors." 

On his appointment, Mr. Patwardhan said, “I am excited to join Union AMC and look forward to working closely with the leadership team. I am confident that we can build further on the excellent work done by the investment team. I see a great opportunity to further enhance our offerings' quality, scale, and scope and work closely with our distribution partners to help our investors achieve their financial goals.”

Delhivery Q1FY24: Steady momentum in business continues

The revenue of the company also grew by 11% to Rs 1,929.7 crore

Delhivery also announced the appointment of Professor Anindya Ghose to its board as an independent director

NATIONAL, 4 AUGUST, 2023 (APN): Delhivery Ltd on Friday reported a 78 per cent narrow reduction in net losses at Rs 89.4 crore for the quarter ending June 30, 2023 as compared to Rs 399.3 crore in the same quarter last year.

The revenue of the company also showed growth, rising by 10 per cent to Rs 1,929.7 crore as compared to Rs 1,745.7 crore in the previous year. 

The company improved its adjusted EBITDA loss, which decreased by 89 per cent to reach Rs 25 crore during Q1. Notably, the first quarter of the fiscal year 2024 witnessed a notable 19 per cent surge in the volume of Express Parcel shipments, reaching a total of 182 million shipments compared to the 152 million shipments recorded in Q1 of FY23.

This growth even surpassed the performance of the preceding quarter, Q4FY23, by adding over 2 million shipments. Remarkably, despite Q1 being historically recognised as a seasonally subdued period, this achievement showcased the company's resilience and strategic advancements, the new-age logistics company said.

Correspondingly, revenue stemming from Express Parcel services displayed a solid year-on-year growth of 14 percent, ascending to Rs 1,202 crores in Q1FY24 from Rs 1,051 crore in Q1FY23.

In a stock exchange filing, the company also announced the appointment of Professor Anindya Ghose to its board as an independent director. Currently holding the esteemed position of Heinz Riehl Chair Professor of Technology and Marketing at New York University's Leonard N. Stern School of Business, Ghose is recognised for his profound expertise in guiding companies through their transformative journeys, involving artificial intelligence, said Delhivery.

Beyond his advisory roles with industry giants, Ghose has extended his insights to nurture emerging businesses, serving as an advisor to start-ups situated in the United States, India, and Singapore. 

On Friday, Delhivery's scrip on BSE closed trading 5.5% higher at Rs 420.05 - Ends.

About Delhivery

Delhivery is India's largest fully-integrated logistics services provider. With its nationwide network covering over 18,500 pin codes, the company provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services. Delhivery has successfully fulfilled over 2 billion shipments since inception and today works with over 26,500 customers, including large & small e-commerce participants, SMEs, and other enterprises & brands. For more information about Delhivery, please visit www.delhivery.com.

Paytm up 4% as loan disbursements more-than-double in July to Rs 5,194 cr Analyst positive on Stock

MUMBAI, 4^th AUGUST, 2023 (APN): One 97 Communications hich owns the Paytm brand, on Thursday said that its loan disbursements grew 148 per cent in July 2023 at Rs 5,194 crore (Rs 2,090 crore).

The number of loans disbursed for the month stood at 43 lakhs, up 46 per cent on a year-on-year basis, Paytm said in its operating performance update  for July 2023 filed with the stock exchanges.

“Our loan distribution business (in partnership with large lenders) continues to witness healthy growth with total disbursements through our platform for the month of July 2023 growing 148% y-o-y to Rs 5,194 crore ($ 632 million)”, Paytm said in its latest update.

“We continue to work with our partners to ensure superior credit quality for loans distributed through us. To ensure that portfolio performance of our lending partners improves despite economic uncertainties, our credit disbursement growth will be deliberately calibrated over the next quarter or two”.

Paytm currently has eight lending partners, and the fintech aims to onboard 3-4 partners in FY 2024.

It maybe recalled that Paytm had in the first quarter of this fiscal disbursed loans worth Rs 14,845 crore, up 167 per cent on a year-on-year basis. In April-June 2023, the number of loans disbursed grew 51 per cent to 1.28 crore from 0.85 crore in the same quarter last fiscal.

The total merchant Gross Merchandise Value (GMV) processed through the Paytm platform for July 2023 stood at Rs 1.47 lakh crore, up 39 per cent on y-o-y basis.

“We continue to see increase in GMV of non-UPI instruments like EMI and cards. We are focused on payment volumes that generate profitability for us, either through net payment margin or from direct upsell potential”, Paytm said.

Paytm shares rose about four percent on August 4 after the fintech company posted its monthly business update for the month of July in which Paytm posted continued expansion of consumer engagement on the Paytm Super App with average monthly transacting users (MTU) for the month growing 19 per cent year-on-year to 9.3 crore (7.8 crore).

The number of merchants paying subscriptions for payment devices has reached 8.2 million, an increase of 3.8 lakh in July 2023.

Paytm added that for India’s small shops, it has also launched two new innovative devices – Paytm Pocket Soundbox, a debit-card sized device for merchants on the go, and Paytm Music Soundbox, which allows merchants to connect their phone to it to play music or listen to match commentary.Ends

Monsoon Hair Care: Expert shares benefits of Aloe Vera + Coconut for soft hair & frizz control

Dr. Shilpa Vora - Chief R&D Officer, Marico Limited

MUMBAI, 3 AUGUST, 2023 (APN): With refreshing showers and vibrant greenery, monsoons are undoubtedly a delightful season. However, this season also bring its fair share of challenges, especially when it comes to hair care. The excessive humidity affects our hair's natural moisture balance, causing it to appear dull, frizzy, and unmanageable.

Dr. Shilpa Vora - Chief R&D Officer, Marico Limited shares a phenomenal combination that can help with frizz control, giving you soft, nourished hair.

While the rains might make our hair frizzy and dull, nature has provided us with plenty of nourishing ingredients; and some of these ingredients, when combined, can do wonders for our hair. One such combination is Coconut, with its nourishing properties and Aloe Vera, with its moisturizing benefits.

The Power of Aloe Vera: Aloe Vera has been used for centuries for its medicinal and beauty benefits. While most are aware of its benefits for skin, not many know of the wonders it can do for hair. When applied on your scalp, Aloe Vera forms a protective layer around the scalp, moisturizing and shielding it from environmental damage, and when applied along the length, it can help reduce frizz, by softening each strand. 

The Incredible Coconut based Hair Oil: Coconut based Hair Oil is another incredible tried and trusted natural ingredient that has been valued for its numerous benefits for hair. When applied on your scalp, Coconut based hair oil penetrates the scalp skin providing deep nourishment.

When combined, Aloe Vera and Coconut based Hair Oil is a dynamic duo that makes for a powerful hair care solution. The deep moisturizing properties of Aloe Vera blend seamlessly with the nourishing abilities of Coconut based Hair Oil, resulting in soft, nourished hair with reduced frizz. Regular application of this phenomenal combination on your hair during the monsoons can help combat potential seasonal damage. 

If you find preparing a mix of ingredients cumbersome, you can choose a trusted Coconut based hair oil brand that is enriched with Aloe Vera. A coin sized amount of an Aloe Vera enriched Coconut based hair oil can also be used, to give your hair that extra boost of nourishment and softness while keeping the frizz at bay.