June , 2020
19:51 pm

B.E. Bureau

L&T Finance Holdings announces financial results

L&T Finance Holdings (LTFH), a leading Non-Banking Financial Company (NBFC) announced the financial results for the quarter and financial year ended March 31, 2020. LTFH became the second largest financier of Farm Equipment Finance in the country with an increase in market share to 15% in Q4 FY20 from 14% in Q3 FY20. LTFH maintained higher than normal liquidity at `15,485 crore included liquid assets of `8,468 crore. Commenting on the financial results Dinanath Dubhashi, Managing Director & CEO, LTFH, said, “We have strengthened our balance sheet by building substantial incremental provisions as well maintaining the comfortably positive ALM and enhanced liquidity.”

JSW Paints to launch hand sanitiser 

JSW Paints is getting ready to launch its hand sanitiser brand Securall in the domestic market in May 2020. Commenting on the company’s plans Parth Jindal, MD, JSW Paints said, “By launching Securall hand sanitiser, JSW is committed to fight against Covid-19 pandemic. We will leverage our group businesses’ to offer consumers access to a world-class product.” Ashwini Saxena, CEO, JSW Foundation said, “As part of our corporate social responsibility and the on-going endeavour to promote safe health and hygiene practices, the free supply of Securall hand sanitiser to underprivileged communities will enable an equitable access."

Maruti Suzuki delivers 5,000 cars maintaining safety  

Maruti Suzuki India Ltd. has delivered over 5,000 cars in recent days. With standard operating procedures (SoPs), over 1,350 Maruti Suzuki showrooms and over 300 true value outlets are operational in post lockdown-4. These SoPs ensure highest level of hygiene and sanitisation across all its showrooms for the safety of its customers and employees. Speaking on the start of showroom activities, Kenichi Ayukawa, MD and CEO, Maruti Suzuki India said, “The Company has put in place comprehensive norms to ensure that their car buying experience is completely safe. These norms are based on guidelines from the central and state governments.”

ITC expands Aashirvaad Svasti with launch of lassi

ITC Ltd. has announced expansion of its fresh dairy portfolio with the launch of Aashirvaad Svasti Lassi. This is their fourth product launched in Kolkata within two years. Priced at `10 for a 160 ml pack, it will be available in around 3,000 outlets. Commenting on the launch, Sanjay Singal, COO-Dairy and Beverages, ITC Ltd. said, “Aashirvaad Svasti’s previous launches have received encouraging response. This continues to encourage us in our endeavour to offer value added dairy products. We saw merit in launching lassi during peak summers as this dairy based traditional drink can help beat the soaring heat and quench the summer thirst.”

Thomas Cook India and SOTC Travel jointly release survey report

Thomas Cook (India) Ltd. along with its group company SOTC Travel Ltd. surveyed over 2500 consumers across India’s metros and Tier 1 and 2 cities. They jointly released the survey report titled ‘Holiday Readiness Travel Report - Future of Travel post COVID-19’ on customer perceptions/preferences for holiday travel in post pandemic. A domestic holiday was the first choice of 64% respondents. 72% respondents preferred reputed brands across their journey, health and safety ranks as the primary concern for 75% respondents. Respondents displayed a preference towards travelling in smaller groups due to hygiene and 63% respondents were inclined to travel solo.

Axis Communications expands footprint

Axis Communications expands its footprint in Kolkata and the eastern India region and announced their association with Kolkata Police for surveillance and traffic management. Sudhindra Holla, Director - India SAARC, Axis Communications said, “We have 800+ camera installations across the city to track, monitor, and analyse the video feed for detecting criminal activities, traffic violations, and road conditions. We aim to support the authorities to deliver high surveillance and build a model Smart City.” Speaking on the Vivekananda Stadium implementation, Holla emphasised, “This project was challenging as it demands a state-of-the-art security system that matches the International standards of FIFA.”   

Tulips – first to develop much required covid-19 swabs

Suparshva Swabs (TULIPS) announced that it is currently producing over 2 million COVID-19 SWABS per week, which would increase to over 5 million per week by the end of May 2020 to accelerate COVID-19 testing. Rajiv Nath, Forum Coordinator, Association of Indian Medical Device Industry (AiMeD), New Delhi said, “This is significant as India plans aggressively to test its billion plus population for COVID-19.” Rahul Jain, Partner, Suparshva Swabs said, “We developed polyester swabs for COVID testing by converting the 100% cotton processing lines. Trials were done enabling us to start producing after receiving the ICMR approval,”

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