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For dedicated and comprehensive support for its fleet of 12 C-130J-30 Super Hercules Aircraft, the US aerospace company Lockheed Martin has been awarded a five year contract from the Indian Air Force (IAF). Valued at USD 328.8 million, it is a Follow on Support II (FOS) contract under which the Lockheed Martin teams are going to manage the programme, engineering support elements, and the logistics which are important for sustaining the fleet. Lockheed Martin is the OEM of the C-130Js, which is the tactical airlifter and is being operated in 22 countries across the globe. More about the contract It is a contract for another five years and is a Direct Commercial Sale. The company will be providing similar support for the fleet as it did under the FOS I. The FOS II contract now also includes the American company For the on-site technical support for the contract duration there are representatives of GE (propeller manufacturer), Rolls-Royce (engine manufacturer) as well as Lockheed Martin. In total there are eight who are present all the time to give the support in real time. According to an official statement issued by the American company, through the FOS II contract starting 2022 five C-130J Hercules aircraft will undergo 12-year servicing (depot maintenance) at a company approved Heavy Maintenance Center (HMC). About the C-130J Super Hercules In 2008, through Foreign Military Sales route (FMS) the Indian government announced the purchase of six airlifters. All the six were delivered between 2010-11. Later India got C-130Js in 2017 and in 2019. The airlifters in the IAF For extended range operations, these aircraft are equipped with air-to-air receiver refueling capability. In India these airlifters have been deployed for critical missions including search and rescue missions, natural disaster aid as well as humanitarian aid and airlift. These have been deployed extensively for transporting relief materials, equipment as well as personnel during the COVID-19 pandemic and also during cyclone affected areas. Joint Venture with Tata There is a joint venture between Lockheed Martin and Tata — Tata Lockheed Martin Aerostructures Limited (TLMAL). This is the single global source of C-130J empennage assemblies which is included in all the new Super Hercules aircraft. This venture is based in Hyderabad and exemplifies the governments Make in India initiative. Over 10 years of its operations the joint venture company has delivered 120 empennages. A word on the extension of the FOS According to vice president and general manager, Air Mobility Maritime Missions Rod McLean,
Marvel alums Scarlett Johansson and Chris Evans will reunite for The duo starred as Natasha Romanoff\/Black Widow and Steve Rogers\/Captain America in the Marvel Cinematic Universe. In the Marvel Cinematic Universe, the duo starred together in three Dexter Fletcher, the English filmmaker whose last directorial venture was the Elton John biopic Rhett Reese and Paul Wernick, who wrote the cult hit The Hollywood Reporter Johansson and Evans are not only the best of pals on screen, but are good friends off the screen as well. In several interviews, the two have discussed their respective projects The two have also starred together in 2004 Johansson is currently embroiled in a legal battle with Marvel Studios owner Disney over the studio According to Johansson, Disney However, despite Johansson Ghosted On the other hand, Evans has signed up for projects such as the science fiction black comedy
By Harish Bijoor The Tokyo Olympics 2020 concluded a year late, and even as the curtains were brought down on the games with India celebrating its seven medals, a big marketing brouhaha erupted. This was all about PV Sindhu and her talent management team wanting to sue some 15 companies that used her name\/photo in their congratulatory messages without her permission, all in the name of The Olympics and its Indian winners were seen as opportunities by opportunistic brands to piggyback on their brand images, sinking their fangs into stars of new and fresh repute. Now that sounds rude to brands and their brand managers, not to speak of the companies of considerable repute that actually went out and publicised their love for the sport, love for India and its many Indian winners. Two points of view clashed for a bit. There is the point of view of the sportspersons involved, and then there is the perspective of the brands. It made news, brands went into thinking mode, and sportspersons of every ilk looked beyond the happy moment, into the murky depths of moment marketing gone rogue. Are brands really all that bad? Are they really these The brand is a thought All brands want to be positive thoughts. Why then would brands of decent corporate lineage want to do the nasty? Are brands really so bankrupt of ideas and money that they need to resort to this kind of moment marketing? The answer is loud and clear, then. This moment marketing twist is not of conscious making. It happened out of the enthusiasm displayed by brands, their advertising agencies, their digital partners and literally everyone who got excited with the seven medals we won. There is a big dollop of national pride in it, a wee bit of love for sport, and a wee bit of being there and being first in the congratulatory race as well. And, of course, there is a shadow of a FOMO (fear of missing out) lurking somewhere around. But that Are brands really all that good? Brands are entities that seek out the new and the different for sure. Every day, every digital moment is mapped by brands to see how to make the best use of it. Every moment missed is a missed And, therefore, spreads the sentiment of making the best of every opportunity that comes by you. If an Olympics winner has come by you, make the most of it for your brand. If you can bask in a bit of reflected glory, so be it. Brands are, therefore, really not all that good as well. Brands live in a fast-track environment where being the first tends to matter. Everyone wants to be a part of the Olympics glory. A pizza brand wants to send pizzas to Saikhom Mirabai Chanu; Anand Mahindra has promised an XUV700 to Neeraj Chopra; the Karnataka State Road Transport Corporation has given a lifetime free I do believe everyone is using a happy national moment to market themselves in some way or the other. Every brand uses the Independence Day, just gone by, as an opportunity to market themselves, and bask in the glory of the positivity of the day and what it offers. Many brands have used the Olympics and India The only difference between using Independence Day and the Olympics winner is the fact that the Olympics star is an individual, a brand, a persona and a character. This persona is inalienable from who it belongs to. This is a human brand you are dealing with. Tread with care. The next time you want to use a moment, do remember that you can do one of three things: you can use a name, you can misuse a name, or you can hijack a name. Decide what The author is founder, Harish Bijoor Consults Read Also: Why it is important to protect consumer interest in a digital world Follow us on Twitter,Instagram,LinkedIn,Facebook
Developments in Afghanistan and the situation in the Indo-Pacific region will be topping the agenda of the foreign ministers of the European Union (EU) meeting later this week. The format of the informal meeting is known as the Gymnich meeting, and is a highlight of each Presidency. The minister is visiting the country at the invitation extended by Slovenia, which presently holds the presidency of the Council of the European Union till the end of this year. Besides Slovenia, the minister will visit Denmark and Croatia in Central Europe. This visit will help India in deepening relations with the European Union as well help review the progress in the bilateral relations with each. And in all the meetings with his counterparts the focus is going to be on issues of mutual interest. In Slovenia According to the Ministry of External Affairs (MEA), from Sept 2-3 the minister will be in Slovenia, which is currently holding the Presidency of the Council of the European Union. Also, apart from calling on the Slovenian leadership, the minister will hold a bilateral meeting with his counterpart Dr Anze Logar. Jaishankar is going to be attending the Bled Strategic Forum (BSF) which is taking place in Slovenia and later participate in a discussion on Partnership for a Rules Based Order in the Indo-Pacific In the informal EU Foreign ministers meeting, India is the only Asian country and one three non-EU nations to be invited. The other two are the US and African nation Kenya. Earlier this year in April, the Council of the European Union had approved the EU In Croatia After Slovenia, Jaishankar will travel to Croatia where he will meet his counterpart Mr Gordan Grli In Denmark The minister The focus of the JCM will be a comprehensive review of the bilateral cooperation under the Green Strategic Partnership. This was set up during the Virtual Summit in September 2020.
Software-as-a-service (SaaS) companies seem to be coming off age, with several of them firming up initial public offering (IPO) plans to raise capital from the market. Over the past month, two domestic SaaS startups, Rategain Travel Technologies and Freshworks, have announced their plans to launch initial public offerings. According to merchant bankers, there could be more SaaS players hitting the IPO street, given the huge investor interest in the sector. Rategain Travel Technologies, the largest domestic SaaS company in the hospitality and travel space, will be the first firm to get listed. Rategain has filed the draft documents with Sebi, seeking to raise about Rs 1,200 crore. Freshworks Inc, the Chennai and Silicon Valley-based SaaS provider founded by Girish Mathrubootham, last Friday filed for a USD 100 million IPO in the US and intends to list its class-A common stocks on the Nasdaq Global Select Market. SaaS companies have been attracting huge investments and around USD 6 billion have been pumped into them so far, with over USD 4 billion coming in the past three years alone. Of around 60 unicorns in the country today, 10 are from the SaaS space, with four having joined the coveted club this year alone. Indian SaaS is coming off age as companies have capitalised on its leadership in software development and customer-centricity to build world-class products, which are often superior to incumbent options. The Rategain IPO will be a test case as many players are weighing the option of a domestic or overseas listing, said an analyst with a leading brokerage. The IPO comprises a fresh issue of equity shares aggregating to Rs 400 crore and an offer for sale of up to 2,26,05,530 equity shares. Its OFS comprises selling 17,114,490 equity shares by Wagner; 4,043,950 by Bhanu Chopra; 1,294,760 by Megha Chopra and up to 1,52,330 by Usha Chopra. Founded in 2004 by Bhanu Chopra, Rategain offers travel and hospitality solutions to hotels, airlines, online travel agents, meta-search companies, vacation rentals, tour package providers, car rentals, rail, travel management companies, cruises and ferries, among others. Being one of the largest aggregators of data points in the world for the hospitality and travel industry, Rategain serves over 1,400 customers, including eight global Fortune 500 companies. Its customers include InterContinental Hotels Group entity Six Continents Hotels Inc; luxury hotel chain Kessler Collection; Lemon Tree Hotels and Oyo Hotels Homes. Freshworks has reportedly raised USD 400 million recently at a USD 3.5-billion valuation from marquee investors such as Sequoia Capital, Accel, Tiger Global Management, and CapitalG. Over the past year, SaaS IPOs in the US have performed very well. Freshworks, last valued at USD 3.5 billion, is one of Indias leading SaaS firms and is aiming for a USD 10-billion valuation. Recently Postman, which operates a collaborative platform for APIs (application programming interface), raised USD 225 million in the latest funding round that valued it at USD 5.6 billion, emerging as the most-valued domestic SaaS firm. The valuation of the San Francisco-headquartered firm with offices in Bengaluru, where it was founded, has almost trebled in just about one year and risen multi-fold since 2019.
Last year, India emerged as the world Capitalising on this, Rainmaker has launched a cryptocurrency fantasy gaming platform to offer India With Rainmaker, it is not only the crypto literate that we hope to attract, but also those who are unsure but crypto curious, that we hope to arm with the knowledge needed to confidently become an actual crypto trader. Based on the core vision of democratising knowledge for individuals interested in learning the nuances of this investment avenue in a fun way, the platform offers a near-real experience by gamifying trades and inviting players to learn analytical skills in crypto portfolio management. The platform also offers a similar experience in stock trading, replicating that of actual stock exchanges in India. Connected to an actual global cryptocurrency exchange, Rainmaker Players can safely make life like trades in a fantasy gaming environment. They can pick from over 20 different types of paid as well as free contest formats available on the platform. It provides the flexibility to exit when they choose, allowing them full in-game control to stop loss\/ profit booking. For Himmatsingka, India is witnessing greater participation from a wider pool of individuals with young professionals rapidly joining the fray. Many of these are coming from tier II and III towns which is encouraging and a strong indicator of a growing investment and earnings mindset. Rainmaker is the flagship product of First Stock Contest Limited which is a tech startup established in 2021 in the real money gaming (RMG) space. First Stock Contest Limited aims to build products that redefine the RMG sector with its industry best in design and technology, and by creating gamification-focused learning avenues for sustainably building wealth. Read Also: OPPO rolls out \u2018The Chronicles of Sharma-Verma\u2019 digital campaign to showcase its after-sale services in India Follow us on Twitter,Instagram,LinkedIn,Facebook
Newgen Software has elevated Virender Jeet, senior vice president, sales, marketing, and products, to the position of chief executive officer (CEO). The company has also announced the promotion of Tarun Nandwani, senior vice president, business management, as the chief operating officer (COO). The changes have been effective from September 1, 2021. Jeet and Nandwani have been integral to the Newgen growth story, Diwakar Nigam, chairman and managing director, Newgen Software, said. Jeet and Tarun have left no stone unturned in bringing us to an enviable position in the industry. With their experience and able leadership, we look forward to achieving newer heights, Nigam added. Jeet has been working for Newgen since its inception in 1992. He has looked at several areas including the complete lifecycle of product development, sales and marketing, patents, and various other strategic functions at the company. On the other hand, Nandwani has been associated with the organisation for over 27 years. He has led customer relationship management, commercial activities, new solution, and application development, along with playing a key role in driving business from the install base. I look forward to working closely with our SI and consulting partners and establishing Newgen as the world According to Tarun Nandwani, chief operating officer, Newgen Software, its customers have trusted its ability for decades to transform their businesses. Industry analysts have consistently recognised the company for its technology and innovation, he noted. Read Also: Shiprocket appoints Atul Mehta as COO Follow us onTwitter,Instagram,LinkedIn,Facebook
The central sector scheme for industrial development of Jammu and Kashmir will help in making the union territory self-reliant and push growth, besides creating jobs for lakhs of people, Union Minister Piyush Goyal said on Tuesday. It would also encourage businesses to invest in the union territory, the commerce and industry minister said during the launch of a portal for registration of units for industrial development in Jammu and Kashmir. This scheme will help Jammu and Kashmir to become self-reliant and developed, he said, adding products like handloom, handicrafts and silk from Jammu and Kashmir are now reaching global markets. Goyal said the portal would further improve ease of doing business and bring all-round transparency. DigiLocker facility will also be added with this portal so that businessmen will not have to submit the same documents repeatedly, he added. The portal has been designed and developed for effective implementation of the scheme in a transparent manner and with the objective of ease of doing business. The entire process under the scheme – applying for registration, submitting claims and their processing within the department – will be through the portal so as to avoid human interface. The scheme aims to give fresh thrust to industry and services-led development of Jammu and Kashmir with emphasis on job creation, skill development and sustainable development by attracting new investment and nurturing the existing ones.
The cumulative COVID-19 vaccine doses administered in the country has crossed 66 crore on Wednesday, the Union health ministry said. More than 69 lakh (69,42,335) vaccine The daily vaccination tally is expected to increase with the compilation of the final reports for the day by late night, the ministry said. Cumulatively, 25,89,65,198 individuals in the age group of 18-44 years across states and Union Territories have received their first dose and 2,97,99,597 have received their second dose since the start of phase-three of the vaccination drive, according to the health ministry data. The vaccination exercise as a tool to protect the most vulnerable population groups in the country from Covid continues to be regularly reviewed and monitored at the highest level, the ministry underlined.
Ami Organics Rs 570-crore IPO has been subscribed 5.7 times so far on the last day of the bidding. The public issue has received bids for 3.7 crore equity shares against 65.42 lakh shares on offer. In the primary market, the grey market premium in Ami Organics has fallen to Rs 95 from Rs 155, earlier this week, over the issue price. On Friday, Ami Organics shares were trading at Rs 705, a premium of 15.57 per cent from the IPO price of Rs 610, according to the people who deal in unlisted shares of the companies. Ami Organics manufacture and market advanced pharmaceutical intermediates used for manufacturing of APIs and NCEs in select therapeutic areas such as anti-retroviral, anti-inflammatory, antipsychotic, anti-cancer, anti-Parkinson, antidepressant and anti-coagulant. Analysts say as far as Ami Organics is concerned, the IPO pricing looks moderate while the product portfolio and its market share are attractive aspects. Chemical sector has emerged as an outperformer. So, we may witness interest from investors owing to the positives, Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO Unlisted Shares, told Financial Express Online. Due to the recent fiasco in the primary market, Doshi added saying that its better to avoid grey market premium as an indicator for decision making in applying IPOs. From the last couple of IPOs, grey market premium has failed up to a large extent as a listing indicator. Some of the Ami Organics domestic customers include Laurus Labs, Cadila Healthcare and Cipla. Upon its stock market debut, Ami Organics will join the listed industry peers such as Aarti Industries, Hikal, Valiant Organics, Vinati Organics, Neuland Organics and Atul Ltd. Ami Organics investors wait for listing Ami Organics fundamentals seem good with a lower PE as compared to peers. But technically, the broader market remains extremely overbought a sharp correction may be due anytime. Investors are advised to remain cautious and wait for listing. If subscribed allotted, hold for some time for decent returns in the coming months, Pavitraa Shetty, Co-founder Trainer, Tips2Trades, told Financial Express Online. Based on FY21 numbers, Ami Organics IPO is priced at a Price to Earnings of 35.6 times and EV\/EBITDA of 25.7 times at the upper price band of the IPO, which is on the higher side, compared to the listed peer group, said an analyst. The company already has a higher market share of 70-90% in key APIs which will limit growth in near future, said Yash Gupta, Equity Research Analyst, Angel Broking. Given the expensive valuation, the brokerage firm has assigned a neutral rating to it. Ami Organics primarily deals in anti-depressant in pharma which is a niche high demand segment. It will have a great market in the next decade due to the lifestyle of people, said an analyst. We feel that AMi Organics IPO will sail through easily, (The stock recommendations in this story are by the respective research analysts and brokerage firms. Financial Express Online does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)