TCS partners with University of Kashmir to launch education, skilling, and entrepreneurship programmes - Business Guardian
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TCS partners with University of Kashmir to launch education, skilling, and entrepreneurship programmes

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Tata Consultancy Services (TCS) said on Friday it has partnered with the University of Kashmir to offer education and training programmes to improve the employability skills of students in Kashmir.

Over the next three years, TCS will carry out its Youth Employment Programme (YEP), BridgeIT, goIT, Ignite My Future (IMF) and Adult Literacy Programme (ALP) in Jammu and Kashmir. Under the YEP, school and college students will be trained in 21st-century skills that are required to be successful in the digital economy, TCS said in a statement.
The training programme covers English communication, corporate etiquette, analytical thinking, and problem-solving, basic computer and technical skills, and self-confidence.

The University of Kashmir will play the role of a facilitator to create linkages for TCS to drive its goIT and IMF initiatives. goIT is a programme for school students that increases interest in technology through design thinking, mobile app development, and mentorship from TCS employees. TCS Ignite My Future Programme is a pioneering, trans-disciplinary educator training and resource programme which aims to transform the way students learn.

The ALP will augment the Government of India’s efforts to address the challenge of educating adults. The ALP will be implemented through the university’s Directorate of Lifelong Learning.
The country’s largest IT firm will run the education, skilling and entrepreneurship programmes in Jammu & Kashmir under its Corporate Social Responsibility (CSR) initiative.
“TCS believes in investing in helping young people to become responsible and productive citizens. We are pleased to partner with the University of Kashmir to empower students and educators in the region with skill-sets and mindsets for the digital economy,” said Balaji Ganapathy, Global Head, Corporate Social Responsibility, TCS.

“We strive to create digital social innovators among school children. We are delighted that the University has agreed to play the role of a facilitator to connect us with institutions at the school level,” Ganapathy added.
Additionally, TCS will pilot an ‘Entrepreneurship in Tourism’ programme under its flagship BridgeIT programme for promising students from the university’s Department of Tourism, Hospitality and Leisure Studies. The goal of this project is to build the requisite skills to participate in the tourism industry in the valley and elsewhere.

These students will be mentored in key domain functions, portal management, data management and analytics and market assessment. They will also be guided around seed funding and human resources development to establish a tourism start-up. The programme will also help entrepreneurs connect with the larger tourism ecosystem, including travel agencies, tour operators, rural tourism and agri-tourism and adventure tourism.
“Such collaboration between academia and the industry shall go a long way in fostering strong linkages for skill enhancement, proper placement and entrepreneurship development among students and youth,” said Talat Ahmad, Vice-Chancellor, University of Kashmir.
“Strengthening such relationships with industry and corporates for building competencies and resulting in industry orientation for students will translate into timely placement and greater work efficiency. I urge more corporates to come forward to make the youth of Kashmir realize their potential,” Ahmad said. (ANI)

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Greaves Cotton Limited announces Q2, FY24 earnings with standalone EBITDA of INR 64 crores

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Greaves Cotton Limited, one of India’s leading diversified engineering companies, has reported standalone revenues of Rs 459 Crores for the second quarter of fiscal year 2024. The Company has reported an improvement in standalone margins, with quarterly EBITDA at INR 64 crores, a growth of 42% over the first quarter of FY24.

The Company is making substantial progress with a strong and diversified strategy across various business sectors. Greaves Engineering has expanded its product portfolio to meet diverse market demands and drive significant export growth. Simultaneously, Excel Controlinkage is on an impressive growth trajectory, fueled by its commitment to tailored solutions and expanding into mechatronics and electronics. In the electric mobility sector, Greaves Electric Mobility maintains its position among the Top Five players in electric two-wheelers (E2W)* and achieved a significant milestone with its highest-ever quarterly sales in the electric three-wheeler (E3W) segment, marking a remarkable 75% increase from the first quarter of FY’24. Their recent announcement with the Greaves ELTRA 3W cargo vehicle launch reflects their dedication to innovation and market diversification.

Greaves Retail has made substantial progress in bolstering its market presence by expanding its multi-brand distribution network for two- and three-wheelers, offering a comprehensive range of spare parts. Additionally, Greaves Spares is expanding its distribution network in northern and eastern India, poised for increased domestic and international traction soon. These accomplishments showcase the Company’s commitment to innovation, market expansion, and sustainable mobility solutions.

Commenting on the Company’s Q2, FY24 performance, Mr Nagesh Basavanhalli, Non-Executive Vice Chairman of Greaves Cotton Limited, said, “We have made substantial strides in our journey towards becoming a full-stack ecosystem player focused on democratising sustainable mobility. Our diversified portfolio and fuel-agnostic strategy have played a pivotal role in our journey. Excel Controlinkage is demonstrating impressive growth and a significant increase in EBITDA. Furthermore, our acquisition of MLR contributes to our ongoing efforts to strengthen our presence in the 3-wheeler market, aligning with our goal of sustainable margin improvement.”

Ms. Akhila Balachandar, CFO, Greaves Cotton Limited, added, “We are pleased to announce that this quarter, standalone, we have delivered a robust performance with 23% y-o-y growth in revenues, 91% y-o-y growth in EBITDA along with improvement in the margins. We are confident that our strong foundation and unwavering commitment to excellence will sustain our success in the forthcoming quarters and the exciting future opportunities.”

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Traders seek veggies from India

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In view of the skyrocketing prices of vegetables amid the ongoing floods and relentless monsoon rain across Pakistan, the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday demanded the government to give permission for vegetable import from India through Wagah border.

LCCI president Nauman Kabir urged the government to grant permission to import vegetables from India to control its prices.

“The recent floods have destroyed crops of tomato, onion, potato and other vegetables across the country,” he said, adding that the crisis is expected to prevail for the next three months. The vegetable crisis could further worsen in September, October and November, he added.

It will take a few days to transport vegetables from India to Pakistan via the Wagah border, Geo News reported. The grocery vendors are charging exorbitant prices from consumers amid the countrywide floods triggered by torrential rains.

The traders are making hefty profits at a time when the death toll from the relentless monsoon rains has exceeded the 1,100-mark and inflicting $10 billion loss on the country’s economy.

According to the details, tomato is being sold at 250 PKR per kg in the market while its official price is 190 PKR per kg.

Similarly, the vendors are selling onion at 300 PKR to 320 PKR per kg while the commodity’s rate was fixed at 290 PKR by the authorities, Geo News reported.

Potatoes are being sold at 120 PKR to 140 PKR per kg instead of its official rate of 100 PKR per kg.

Ginger’s official rate is 360 PKR per kg but it is available for 380 PKR per kg in the market.

Garlic is being sold at 250 PKR per kg while its official rate is 200 PKR per kg.

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Bansal sells Flipkart stake worth $264 mn to Tencent

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Flipkart Co-founder Binny Bansal has sold his stake worth $264 million (more than Rs 2,000 crore) in the homegrown e-commerce platform to Chinese Internet giant Tencent, at a time when the neighbouring country has once again hardened its positions along the Indian border. The news about Bansal selling Flipkart stock to Tencent came at a time when US Secretary of Defense, Lloyd Austin, said on Saturday that China is hardening its positions along the Indian border. Addressing the Shangri-La Dialogue in Singapore, Austin said that China is taking aggressive and illegal approaches to the territories it claims in the South China Sea. “Further to the West, we see Beijing continuing to harden the position along the borders it shares with India,” he noted. Tencent bought Bansal’s stake, via its European subsidiary called Tencent Cloud Europe BV, in October last year, and now holds 0.72 per stake in Walmartowned Flipkart, according to media reports, which was later confirmed by reliable sources. Bansal now holds nearly 1.84 per cent stake in Flipkart. A query sent to Flipkart went unanswered. India and China have been engaged in a border dispute for nearly two years. India also banned several Chinese apps and Internet platforms in the aftermath of the tense border standoff in eastern Ladakh in May 2020. Army Chief General Manoj Pande said last month that China seems to lack the intention to find a resolution to the border dispute at the Line of Actual Control, stressing that Indian troops continue to hold important positions along the LAC. During an interaction with media persons, General Pande said, “Our guidance to them (troops deployed at LAC) is to be firm and resolute and prevent any attempt to alter the status quo.” Sachin and Binny Bansal, who received their B.Tech degree in computer science & engineering from IIT-D in 2005, built one of the largest e-commerce marketplaces in India. Sachin led Flipkart as its CEO from its inception in 2007 till 2015, and took over as the Executive Chairman in 2016. He is currently leading and mentoring the startup and internet ecosystem in India and is an angel investor in several technology startups. Binny served as the Chief Operating Officer of Flipkart till January 2016 before being promoted as its Chief Executive Officer. He exited Flipkart in November 2018, and became a prolific angel investor. Flipkart, Amazon, Reliance’s JioMart, and Tatabacked BigBasket have fired up India’s online retail market that is forecast to grow at a CAGR of 19.8 per cent to reach $85.5 billion by 2025, according to a report by Forrester.

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‘Litmus test of good governance is ease of living’

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Union Minister of State for Science and Technology, Jitendra Singh on Monday said the ultimate objective and the litmus test of good governance is to bring the ease of living in the lives of common citizens. Talking about the essence of good governance, Singh said, “Sometimes it seems that effective administration is the good governance, but as I think, it looks that sometimes zero government is also good governance.” He was speaking at the launching event of the first edition of the annual report “Madhya Pradesh Sushashan and Development Report (MPSDR) 2022” on Monday evening. Madhya Pradesh Chief Minister Shivraj Singh Chouhan launched the report which has been prepared by the Atal Bihari Vajpayee Institute of Good Governance and Policy Analysis. Speaking on the occasion, Singh said as soon as the BJP government came into power in 2014, Prime Minister Narendra Modi gave us the mantra of “maximum governance and minimum government”. He added that working on the same mantra, we (Union government) have repealed around 1,500 irrelevant laws in last eight years. “Recently, we have started reaching out to the District Governance Index. Some states have implemented this. In Madhya Pradesh, the work is still going on and we will take help of this report to identify the index,” Singh said. Lauding the report, the Union Minister said Chouhan has made the state a role model from “Bimaru Rajya”. Launching the report, the Chief Minister said Madhya Pradesh is the fastest growing state of the country with a growth rate of 19.70 per cent. The state contribution in Indian economy has increased from 2.6 to 3.6 per cent, Chouhan added. “We are working under the guidance of the Prime Minister. We used to be called a Bimaru state, if we see the journey of 15 years, Madhya Pradesh has become a developing state out of Bimaru state,” the Madhya Pradesh Chief Minister said addressing the gathering on Monday evening

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Airtel to buy Voda’s 4.7% stake at R2.3K cr

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Telecom major Bharti Airtel on Friday said that it will acquire a 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 2,388 crore, according to a company filing. The transaction will be executed at a price of Rs 187.88 per share, it added. ‘’…pursuant to the above referred agreement dated February 25, 2022 entered inter alia into between certain affiliates of Vodafone Group Plc (including Euro Pacific Securities), the company and Nettle, the transaction shall be executed at Rs 187.88 per share basis the agreed price formula in the agreement, aggregating to Rs 23,880.62 million,’’ Airtel said in a regulatory filing.

This will be upon fulfillment of all conditions precedents as agreed by the parties under the agreement, it added. Airtel said agreement pertained to acquisition of about 4.7 per cent equity in Indus Towers by the company and/or Nettle Infrastructure Investments, a wholly-owned subsidiary, from Vodafone Group affiliate, Euro Pacific Securities. On February 25, Bharti Airtel had said it has signed an agreement to buy Vodafone’s 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company. Indus Towers, formerly Bharti Infratel, provides passive telecom infrastructure.

It deploys, owns and manages telecom towers and communication structures for various mobile operators. The company’s portfolio of over 1,84,748 telecom towers makes it one of the largest tower infrastructure providers in the country with presence in all 22 telecom circles. Indus Towers caters to all wireless telecommunication service providers in India. Shares of Bharti Airtel on Friday closed 0.69 per cent lower at Rs 711.25 apiece on BSE. Earlier today, Airtel had stated that it has prepaid Rs 8,815 crore to the Department of Telecom (DoT) to clear deferred liabilities towards spectrum acquired in auction in 2015. The company said that the prepayment is for instalments that were due in FY2027 and FY2028

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ANIL AMBANI RESIGNS AS DIRECTOR OF RPOWER, RINFRA

Rahul Sarin is appointed as Additional Director in capacity of Independent Director on company boards

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Reliance Group Chairman Anil Ambani has stepped down as director of Reliance Power and Reliance Infrastructure, following the Securities and Exchange Board of India’s (SEBI) order restraining him from trading in securities or being associated with any listed companies. The development came a month after market regulator SEBI barred Reliance Home Finance, industrialist Anil Ambani, and three other individuals from the securities market for allegedly siphoning off funds from Reliance Home Finance Ltd (RHFL). In February 2022, the regulator had passed t h e o r d e r against Anil Ambani, the younger brother of billionaire Mukesh Ambani, and three other individuals — Amit Bapna, Ravindra Sudhakar and Pinkesh R Shah. “Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order,” Reliance Power said in a BSE filing after market hours on Friday. Similarly, Reliance Infrastructure also informed the exchange about the resignation of Anil Ambani. “Anil D. Ambani, non-executive director, steps down from the Board of Reliance Infrastructure in compliance of SEBI interim order,” it said in a filing to the BSE. “The board of directors of the company unanimously reposed full trust in Ambani’s leadership and invaluable contribution t o st e e r i n g the company through great financial challenges and towards being potentially debt free in the course of the coming financial year,” RPower and RInfra said in their releases. “The board looks forward to an early closure of the matter and inviting Ambani back to provide his vision and leadership to the company in the interest of all stakeholders,” they further added. Reliance Group companies also highlighted that Reliance Infrastructure has created immense value for its around 8 lakh shareholders in the last one year, with the stock price increasing from a low of ₹32 to a high of ₹150, registering a growth of 469%. Similarly, the share price of Reliance Power surged from a low of ₹4 to a high of ₹19, delivering 375% returns to its 36 lakh shareholders in the past one year

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