NIIT Technologies net up 14% in Q2

Oct 18, 2017 0

New Delhi– Global IT solutions provider NIIT Technologies Ltd on Wednesday reported Rs 67-crore net profit for the second quarter (Q2) of fiscal 2017-18, posting 14 per cent growth from Rs 59 crore in the same period year ago.

“Consolidated revenue for the quarter under review (Q2) at Rs 737 crore was up 6.4 per cent from Rs 693 crore in the like period year ago and 4 per cent up sequentially from a quarter ago,” said the NCR-based company in a statement here.

Operating profit at Rs 119 crore was up 4 per cent from Rs 115 crore year ago and 7.5 per cent up sequentially from a quarter ago.

“Robust sequential growth during the quarter came on the back of strong growth in the US, APAC and India,” said Chief Executive Officer Arvind Thakur on the occasion.

Operating margin expanded 53 basis points sequentially to 16.2 per cent for the quarter.

Revenue from the US market, which contributes to 50 per cent of the mix, grew 5.5 per cent sequentially, while APAC and India accounted for 11 per cent and 10 per cent, respectively.

Revenue from Europe, Middle East and Africa (EMEA), however, declined 4.8 per cent sequentially owing to ramp down in a travel client, resulting in the share of region being 29 per cent of the total mix.

Among verticals, revenue from the BFSI (Banking, Financial Services and Insurance) segment had a good traction to increase 5.6 per cent sequentially during the quarter and accounted for 42 per cent of the revenue.

Revenue from travel and transportation was 27 per cent of the overall revenue, while manufacturing, media and other segments contributed 31 per cent on ramping up digital engagements in the US.

“Deal momentum has been strong during the quarter, with $122 million new business and addition of 7 new clients,” said CEO-designate Sudhir Singh in the statement.

Digital business gained traction, with 3 of the 7 new logos secured in the digital integration space.

“Digital business grew 14 per cent sequentially to contribute 23 per cent of the total revenue”, said NIIT Chairman Rajendra S. Pawar.

The company, however, added only 59 techies, taking its headcount to 9,022 for Q2. (IANS)

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Goodricke Group acquires Godfrey Phillips’ tea division

Oct 17, 2017 0

Kolkata– Goodricke Group Ltd on Tuesday said it has entered into an agreement with Godfrey Phillips India (GPI) to drive aggressive expansion into its packaged tea business.

The deal will give rights to Goodricke Group on the trademarks, titles and brands associated with the tea business.

“Goodricke has acquired the following brands from Godfrey Phillips- Tea City, SC Gold, Symphony, Samovar, SC Premium, Super Cup, Rangoli and Utsav at a total consideration of Rs 20 crore,” it said in a statement.

With the expertise in manufacturing and packaging, the tea producer’s position in packaged tea will be reinforced by this acquisition.

“This acquisition will bring synergy to our branded tea business and help us integrate all channels and develop this department further,” said Goodricke’s CEO A.N. Singh.

The company is presently managing a business of 9 million kgs through the FMCG route and hopes to sustain 14 million kgs by absorbing GPI’s brands, distributions and operations.

Jammu and Kashmir, Punjab, UP , Bihar, Rajasthan, and Himachal Pradesh are some of the key markets for the company. (IANS)

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Punjab approves new business development policy

Oct 16, 2017 0

Chandigarh– Faced with the daunting task of reviving economic and industrial activity in the state, the Punjab Cabinet on Monday approved a new business development policy, paving the way for fixing of industrial power tariff at Rs 5 per unit and a one-time settlement of industrial loans.

Under the new ‘Industrial and Business Development Policy-2017’, the industrial power tariff is proposed to be made effective from November 1 and will be applicable for five years. It will apply for the existing and new industries.

“Besides providing for incentives for expansion, modernisation and upgradation of existing units at par with new units, the new policy envisages a one-time settlement for industries against loans taken from the Punjab State Industrial Development Corporation, the Punjab Financial Corporation and the Punjab Agro Industries Corporation Ltd,” a state government spokesman said.

The meeting was chaired by Chief Minister Amarinder Singh.

“The One Time Settlement (OTS) Policy, 2017, would help in releasing the blocked industrial investments and assets to put the same into productive use so as to revive the existing industries in Punjab,” the spokesman added.

“It will also result in reducing the burden of litigation of these corporations and generate revenues for their developmental activities.”

Power Minister Rana Gurjit Singh abstained from discussion on the one-time settlement of loans as his company would also benefit from the move, said the spokesman.

Under the new industrial policy, industrial infrastructure development will be on priority agenda under the provisions, which provide for development of border districts, extreme border zone and ‘Kandi’ areas.

He said that the new policy is aimed at promoting ease of doing business to attract investment in Punjab. (IANS)

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Nadella, Cook, Zuckerberg slam Charlottesville violence

Aug 17, 2017 0

San Francisco–Breaking their silence over the violence at a white supremacist rally in the US, Microsoft’s Indian-born CEO Satya Nadella, Apple’s Tim Cook and Facebook’s Mark Zuckerberg have condemned the incident as “horrific” and “a disgrace” to the nation.

In an email to his leadership team which was obtained by Quartz, Nadella said the tragedy at Charlottesville in Virginia on August 12 — where a 32-year-old woman was killed — was “horrific”.

“There is no place in our society for the bias, bigotry and senseless violence we witnessed in Virginia provoked by white nationalists. Our hearts go out to the families and everyone impacted by the Charlottesville tragedy,” Nadella said.

Zuckerberg said the company is “watching the situation closely and will take down threats of physical harm”.

Satya Nadella

“There is no place for hate in our community. That’s why we’ve always taken down any post that promotes or celebrates hate crimes or acts of terrorism — including what happened in Charlottesville,” the Facebook CEO posted on his page on Thursday.

“With the potential for more rallies, we’re watching the situation closely and will take down threats of physical harm. We won’t always be perfect, but you have my commitment that we’ll keep working to make Facebook a place where everyone can feel safe,” he added.

US President Donald Trump had blamed “both sides” for the deadly violence at the white supremacist rally.

In a show of defiance, Trump told reporters in Manhattan that there were “two sides to a story” just a day after he had belatedly condemned racist hate groups for the mayhem at the “Unite the Right” rally in Virginia, the Washington Post reported.

He equated the white supremacists on one side with the “alt-left” on the other side and said that “alt-left” groups were “very, very violent” when they sought to confront the white nationalist and neo-Nazi groups that had gathered in Charlottesville.

According to Cook, the events of the past several days have been “deeply troubling” for him.

“I disagree with the President and others who believe that there is a moral equivalence between white supremacists and Nazis, and those who oppose them by standing up for human rights. Equating the two runs counter to our ideals as Americans,” Cook said in an email sent to employees and accessed by ReCode.

“What occurred in Charlottesville has no place in our country. Hate is a cancer, and left unchecked it destroys everything in its path. Its scars last generations. History has taught us this time and again, both in the US and countries around the world,” Cook added.

“I believe Apple has led by example, and we’re going to keep doing that. We have always welcomed people from every walk of life to our stores around the world and showed them that Apple is inclusive of everyone,” he noted.

Apple would make contributions of $1 million each to the Southern Poverty Law Centre and the Anti-Defamation League.

“We will also match two-for-one our employees’ donations to these and several other human rights groups, between now and September 30,” Cook wrote.

“Across Microsoft, we will stand together with those who are standing for positive change in the communities where we live, work and serve,” Nadella wrote. (IANS)

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Dow closes above 22,000 for first time

Aug 2, 2017 0

New York–The Dow Jones Industrial Average broke the 22,000 milestone for the first time as shares of Apple soared following strong quarterly earnings.

The Dow Jones Industrial Average on Wednesday was up 52.32 points, or 0.24 per cent, to 22,016.24, Xinhua news agency reported.

The S&P 500 rose 1.22 points, or 0.05 per cent, to 2,477.57. The Nasdaq Composite Index ticked down 0.29 points, or less than 0.01 per cent, to 6,362.65.

After Tuesday’s closing bell, Apple announced quarterly revenue of $45.4 billion and quarterly earnings per diluted share of $1.67.

Shares of the tech giant rallied 4.73 per cent on Wednesday, and drove the Dow above 22,000 for the first time ever.

This earning season has been strong so far and has broadly been supportive of stock market recently.

Some analysts, however, said the tech sector might continue to face pressure from profit-taking following upbeat earnings.

Meanwhile, investors also turned their eyes to a slew of economic data, as they tried to find clues on when the Federal Reserve might start the balance sheet reduction.

US private sector employment increased by 178,000 jobs from June to July, well below market consensus of 185,000, said the July ADP National Employment Report on Wednesday.

The ADP report is often seen as a preview for the closely-watched US nonfarm payrolls data due out on Friday. (IANS)

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Actifio Names Networld Corporation Japan Partner of the Year

Jul 26, 2017 0
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4 Reasons You Should NOT Seek The Media Spotlight

May 12, 2017 0

By Marsha Friedman

On most days it’s my goal to explain to people the benefits of PR and how landing an interview in print, on the radio or on TV can add to their credibility and help establish them as sought-after authorities in their fields of expertise.

But as I know it to be true that there’s an opposing view to practically everything, I thought it might be an interesting exercise to see what the opposing view could possibly be when it comes to public relations.

Marsha Friedman

So, here are four reasons – absurd as they sound – that might make someone want to run like the dickens should the media spotlight shine their way. (And even more absurd is that in our 27 years of being in business we’ve actually experienced clients who seem to view things this way!)

  • Those pesky reporters and their pesky deadlines! You’re making good progress on the day’s to-do list when you learn some bothersome New York Times reporter wants to talk to you. Naturally, she has a tight deadline for getting her article and your name in front of her 30 million combined print and online readers. Is she serious? Why should her deadline stress become yours?
  • The media follow the media that was following you! I mean this is practically a form of stalking! Let’s say you write an article for the New York Daily News. The article is done and you’re done. Or so you think. But no! Someone at MSNBC sees that article and now they’re trying to hit you up for an interview and foist some free air time on you! The nerve!
  • Your brand keeps coming up in online searches! I’m sad to report that potential clients or customers have access to the internet. Do you really want to take the chance that they’ll Google your name and find out that Fox Business or some other major media outlet decided your expertise is worth listening to? I mean, who knows where that kind of thing could lead?
  • Sharing media success stories can be tiresome! Face it. Whenever the Wall Street Journal, USA Today or any other media hotshot interviews you, you’re going to feel obligated to share the results with clients and potential clients through social media or email. What a bother! More work!  What a burden!

All joking aside, those reasons for avoiding the media spotlight work even better as reasons for seeking it out.

In fact, I could point to specific clients who experienced just these sorts of media encounters and successes and made the most of them. Yes, just recently the New York Times called us seeking an expert and our client leapt at the opportunity to talk.

MSNBC really did reach out to a client after he wrote a New York Daily News opinion piece because they wanted to interview him in-studio on his topic.

A financial professional we worked with was trying to woo a potential client, but couldn’t quite close the sale. As they sat in her office she suggested he Google her name when he pressed her about why he should choose her.

When a Fox Business article we got her quoted in popped up, he was immediately sold and she closed the deal.

Yes, sometimes those media deadlines might be stressful (that part wasn’t entirely a joke), but the momentary hassle is well worth the rewards when you’re quoted as an expert in major publications, heard on the radio or seen on TV!

Frankly, it’s surprising to me that more people and businesses that hope to promote their brands don’t take advantage of these sorts of opportunities – “pesky” reporters and all!

(Marsha Friedman is a public relations expert with 26 years experience developing publicity strategies for financial professionals, corporations and media newcomers alike. Using the proprietary system she created as founder and CEO of EMSI Public Relations , an award-winning national agency, she secures thousands of top-tier media placements annually for her clients.)

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Social Enterprise “Second Chance” Wins TiE Boston’s TYE Business Competition

May 12, 2017 0

CAMBRIDGE, MA – TiE Boston, the second-biggest and oldest chapter of the TiE-Global, announced that Second Chance, a social enterprise that helps train the currently incarcerated to successfully enter the workforce, is the winner of the 2017 TYE Business Competition.  The second and third place went to Brite Barrel and Checkups4All, respectively.

Second Chance will represent TiE Boston at the TYE Finals later this year. Teams from up to 26 chapters across the globe will go to California to compete in the 2017 TYE Global Final. Over 20 teams are expected to participate and present at the Applied Innovation Center at UC-Irvine. Last year, the winning teams walked away with seed awards totaling $11,000 at the 2016 Global Finals.

First place winner Second Chance team (Photo: TiE Boston)

This year saw the rise of social entrepreneurship with the three winning teams each startup having a clear social mission. Along with “Second Chance,” the second place winner,“Brite Barrel,” and third place winner, “Checkups4All,” each set out to leverage their talent and resources to make the world a more equitable place for all, TiE Boston said in a statement. TYE announces three winning teams each year and they are awarded a cash grant to either be used as seed funding to launch their startup or to fund their college education.

2nd Place Winner Brite Barrel (Photo: TiE Boston)

TiE Boston will hold an TYE Open House for interested parents and students at 6:00 pm on June 5th at the headquarters of Constant Contact, located at 1601 Trapelo Road in Waltham, MA.

TiE Boston statement said that with the sobering statistic of 77.6 percent of those released from prison will serve a second prison sentence, “Second Chance” is a social enterprise that helps train the currently incarcerated to successfully enter the workforce.

Third Place CheckUps for All (Photo: TiE Boston)

“First, current inmates are matched with a skilled or semi-skilled position through a ‘Second Chance’ partnership with a large company. As inmates now have a job waiting for them upon release, they can engage through the ‘Second Chance’ e-learning platform to prepare for the position,” the statement said. “Leaving prison, individuals are well-trained and prepared to enter these positions, thus eliminating the need to commit a crime to cover basic needs.”

TYE (TiE Young Entrepreneurs) is a youth entrepreneurship program for high school age students develop their business skills, confidence, leadership, problem solving, public speaking and ability to multitask through the creation of a startup. In its 13th year, this award-winning program for high school students was created to prepare the next generation of entrepreneurs for success.

Pallavi Singh

“It has been incredible to see how young adults who have grown up watching ‘Shark Tank’ can use that exposure and our curriculum to come up with some awesome business ideas!  I’m blown away each year when I watch final pitches,” said Pallavi Singh, TYE Program Chair and champion for entrepreneurial youth. “The problem solving skills we teach our students will help them through college and beyond.”

Developed and launched by TiE Boston in 2005, TYE has grown to be a global youth empowerment and education curriculum taught in 26 chapters throughout the globe.

“As someone who has been involved with the TYE program for 7 years as a program coordinator, I have seen over 300 students come through the program, including two of my own children. I can say that this program provides an in-depth view of a entrepreneurial life cycle along with some critical life skills,” said Suneha Kamdiwan, a long-time volunteer and a parent of the winning team. “It is an exhilarating experience to watch each batch of students go through the program. Entering unsure and inquisitive, to transforming into an individual ready to take on new challenges, it has been my greatest pleasure to see TYE alumni move on to start their own companies, organizations and taken initiatives that have made a real and positive difference.”

At the TYE Open House on June 5, TYE Program Manager Simone LaPray will walk through the program, answer questions and lead interested participants through a TYE leadership activity. Students are strongly encouraged to attend with their parents to find out more! To RSVP to the Open House, please send an email with a number of those attending to Refreshments will be provided.

Applications are open now at

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92% Indian business leaders advocate digital transformation

Mar 28, 2017 0

New Delhi–A whopping 92 per cent of business leaders in India believe that every organisation needs a digital transformation to grow their business, a study has revealed.

The Microsoft Asia Digital Transformation Study 2016 has revealed that emerging technologies such as artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important and relevant to digital transformation strategies.

“Today, cloud-powered technologies such as IoT, AI and advanced data analytics are creating limitless possibilities in transforming the way people work, live and play. This is ushering in societal and economic changes at an unprecedented pace and organisations need to embrace this transformation to stay relevant,” Microsoft India President Anant Maheshwari said in a statement on Tuesday.

Further, 88 per cent Indians believe that cloud computing and decreasing cost of devices make it more affordable for companies of all sizes to access modern technology and help them gain a competitive advantage.

Indians also saw virtual reality (VR) and augmented reality as technology relevant to digital transformation among organisations than the rest of Asia.

Fifty-three per cent Indians indicated that their organisation had specific digital transformation strategies in place and were progressing in their journey to add digital elements, as against 49 per cent Asians.

However, security, lack of digitally skilled workforce, lack of supportive government policies and IT infrastructure, uncertain economic environment and lack of leadership were ranked as the top five barriers to an organisation’s digital transformation journey in India.

The study polled business leaders working in mid-sized and large organisations from 13 Asia Pacific countries.

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Babson Professor and Best-Selling Author Raj Sisodia Shares His Journey From BITS Pilani to Conscious Capitalism on Chai With Manju

Mar 21, 2017 0

WALTHAM, MA—Conscious Capitalism, which was co-founded by best-selling author and Babson College Professor Raj Sisodia, is fast becoming a global movement.

In an exclusive video interview with Dr. Manju Sheth on Chai With Manju celebrity series, Sisodia talks about how his Indian heritage of spiritualism and hotbed of American capitalism shaped his philosophy and a new way of doing business where primary motive is more than just profit. His upbringing also created a perfect ambience for his new idea.

Sisodia, the F.W. Olin Distinguished Professor of Global Business and Whole Foods Market Research Scholar in Conscious Capitalism at Babson College, is co-author of the Wall Street Journal bestseller Conscious Capitalism, with John P. Mackey, Co-Founder and Co-CEO of Whole Foods Market, and Everybody Matters: The Extraordinary Power of Caring for Your People Like Family with Bob Chapman, Chairman and CEO of Barry-Wehmiller.

Sisodia was born in India and spent parts of his childhood in Barbados, California and Canada. He was educated as an electrical engineer from the Birla Institute of Technology and Science (BITS, Pilani) in India. He pursued an MBA in Marketing from the Jamnalal Bajaj Institute of Management Studies in Mumbai after which he earned a Ph.D. in Marketing and Business Policy from Columbia University.

Until 1998, he served as the Director of Executive Programs and Associate Professor of Marketing at George Mason University in Fairfax, Virginia. From 1985 to 1988, he was Assistant Professor of Marketing at Boston University.

He also spent 15 years at Bentley University as Trustee Professor of Marketing, Department Chair and founder/director of the Center for Marketing Technology.

Today, Sisodia is a trustee of Conscious Capitalism Inc. and a member of the board of directors of The Container Store. He has consulted with and taught executive programs for numerous companies, including AT&T, Nokia, LG, DPDHL, POSCO, Kraft Foods, Whole Foods Market, Tata, Siemens, Sprint, Volvo, IBM, Walmart, Rabobank, McDonalds and Southern California Edison.

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