Tag: Business

Thiruvananthapuram (Kerala) [India], July 28: Neonicz Software Solutions Private Limited, an Indian-based technology company, is delighted to announce its new partnership with Liberia Telecommunication Corporation (LTC), a prominent state-owned entity in the telecommunications industry. With a shared commitment to serving people through the Government of Liberia, this partnership aims to drive growth and success for both entities.

The signing of the Memorandum of Understanding (MOU) between Neonicz Software Solutions and LTC signifies a momentous occasion, marking the beginning of a new chapter for both organisations. Archa GS, CEO of Neonicz Software Solutions, and Richmond Tobii, CEO of Liberia Telecommunication Corporation, have signed MOU. This landmark MOU paves the way for a strong and mutually beneficial alliance, emphasising a shared vision to strengthen the Liberian community through innovative technology solutions.

Archa GS, the visionary CEO of Neonicz Software Solutions, says, “I am delighted to officially announce the formal signing of the Memorandum of Understanding (MOU) with LTC. This partnership fills us with excitement and pride. At Neonicz, we are powered by a team of dedicated and motivated professionals committed to empowering organisations with innovative technology solutions. With a strong focus on digitalization and performance enhancement, we aim to deliver innovative IT services that foster progress and drive growth for businesses. Our ultimate goal is to assist organisations in improving and optimising their future performance.” 

Richmond Tobii, CEO of Liberia Telecommunication Corporation, says, “Thanks to Neonicz’s gracious invitation, I had the wonderful opportunity to visit India. I am incredibly impressed by the number of solutions I am discovering here; it truly feels like “India is a land of solutions”. With great enthusiasm, I call upon companies to collaborate with Neonicz Software Solutions and contribute their innovative solutions to benefit Liberia. Together, through this partnership, we shall strive towards achieving significant technological advancements for my beloved nation.”

Together, this partnership holds a shared determination from both companies to drive a positive impact and bring about transformative change in the lives of both Liberians and Indians. Through their collaborative efforts, they aim to empower communities, foster economic growth, and create opportunities to uplift and enhance the quality of life for people in both nations.

About Neonicz Software Solutions

Neonicz Software Solutions, founded in 2016 by its co-founders Archa GS, Guru Math, and Arun RS Chandran, is an innovative technology company based in India.  It serves clients across the globe from its offices in Trivandrum, Kochi, Bangalore, and the UAE. With a core focus on web development, mobile app development, and cloud computing, the company delivers cutting-edge solutions across various industries. Neonicz’s commitment to transforming technology for business empowerment and positive societal impact has garnered recognition and accolades.

One of their remarkable achievements is SpotBay, a customer engagement and lead generation platform that received the prestigious honour of being named the Best Online Platform Startup at the Ajman University Innovation Center (AUIC).

In addition to that, Neonicz’s projects like E-samudra and the Local Economic Intelligence Platform have earned high appreciation from both the Central Government of India and the State Government of Kerala. These initiatives reflect the company’s dedication to creating impactful solutions that address critical issues and contribute to the growth and progress of local communities and the nation as a whole.

About Liberia Telecommunication Corporation

Liberia Telecommunication Corporation (LTC) is a state-owned telecommunications company in Liberia. LTC provides a range of telecommunications services, including fixed-line, mobile, and internet services. LTC is committed to providing affordable and reliable telecommunications services to the people of Liberia.

Join us on this exciting journey of innovation and transformation! Neonicz Software Solutions invites you to explore the limitless possibilities of technology. If you are looking for innovative solutions or a community seeking positive change, we invite you to connect with us. For more information, visit:  https://neonicz.com/ or contact us at Info@neonicz.com

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New Delhi (India), July 28: Share India Securities Ltd. (BSE: 540725, NSE: SHAREINDIA), one of India’s leading tech-based financial services-provider, in its board meeting held on July 25^th, 2023 has approved the unaudited Financial Results of the Company for the First Quarter ended on 30 June 2023. The board further approved declaration of the 1^st interim dividend of Rs. 2 per share for FY 23-24.

Consolidated Financial Performance Comparison – Q1FY24 v/s Q1FY23

• Revenue from Operations grew by 20.15% from Rs. 23080 Lakhs in Q1 FY23 to Rs. Rs. 27730.82 Lakhs in Q1 FY24 primarily driven by growth in share broking business/trading activity and improved focus on customer retention by offering various products like utrade algo’s and MTF.
• EBITDA increased by 38.61% from Rs. 9087.51 Lakhs in Q1FY23 to Rs. 12596.44 Lakhs in Q1 FY24
• EBITDA margins increased from 38.96% in Q1 FY23 to 45.20% in Q1 FY24 by 624 bps.
• PAT increased by 39.03 % from Rs. 5917.71 Lakhs in Q1 FY23 to Rs. 8227.51 Lakhs in Q1 FY24.
• PAT margins increased from 25.37% in Q1 FY23 to 29.52% in Q1 FY24 by 415 bps.

Management Comments

Commenting on the Q1FY24 Performance, Management added,

“We are thrilled to announce the outstanding financial performance of Share India Securities for the first quarter of FY24. Our consolidated Revenue from Operations grew by an impressive 20.15%, reaching Rs. 27730.82 Lakhs as compared to Rs. 23080 Lakhs in Q1 FY23. This remarkable growth was primarily driven by the expansion of our share broking business and increased trading activity, as well as our unwavering dedication to improving customer retention by offering various allied services.

Notably, our EBITDA witnessed a substantial increase of 38.61%, soaring from Rs. 9087.51 Lakhs in Q1 FY23 to Rs. 12596.44 Lakhs in Q1 FY24. This significant boost in profitability was also reflected in our EBITDA margins, which expanded from 38.96% in Q1 FY23 to an impressive 45.20% in Q1 FY24, indicating the efficacy of our operational strategies. Moreover, our Profit After Tax (PAT) exhibited a remarkable surge of 39.03%, rising from Rs. 5917.71 Lakhs in Q1 FY23 to Rs. 8227.51 Lakhs in Q1 FY24. This growth is a testament to our team’s relentless efforts and commitment to driving financial success.

In line with our commitment to providing value to our esteemed shareholders, we are delighted to announce that the Board has approved the 1st Interim Dividend of Rs. 2 Per Share for FY 23-24, demonstrating our strong financial health and future prospects.

Additionally, we are excited to share our strategic focus on the retail Algo trading platform, “uTrade Algos.” This cutting-edge Algorithmic Trading Platform empowers users to Plan, Strategize, and Automate trades while also having the option to subscribe to Pre-made Algos. We believe that by making algorithms easier and more accessible for everyone, we can drive innovation and transform the landscape of the financial industry. At Share India, we have always been committed to delivering high-quality fintech solutions, and our dedication to developing technology that adds value to our customers remains unwavering.

We extend our heartfelt gratitude to our stakeholders for their unwavering support and trust in our vision. As we progress further, we are confident that our strategic initiatives and strong financial performance will continue to create sustainable value for all our partners and stakeholders.”

Share India Securities Limited (BSE: 540725, NSE: SHAREINDIA) is one of India’s leading tech-based financial service provider. The company offers customized capital market solutions to its clients and has recently launched its algo trading platform for client. SISL has ~2% market share in cash market, ~2% market share in futures and ~5% market share in options on basis of turnover. SISL via its subsidiaries is also present in NBFC business, insurance broking, merchant banking, portfolio management and mutual funds distribution. SISL has been in operations since last 27 years & has a nationwide reach with its 821 and 117 AP and branches respectively present across 16 major States of India. The company has turned focus on its retail Algo trading platform – “uTrade Algos”. uTrade Algos is an Algorithmic Trading Platform, that lets users Plan, Strategize, and Automate trades as well as subscribe to Pre-made Algos. The company is making algos easier and accessible for everyone. Share India believes in high quality fintech and has focused on developing technology. Within a short span, the company has grown from a traditional stockbroker to a hi-tech broking company specializing in derivative trading strategies and growing from strength to strength. The company is using tech driven trading platform for automated/algo driven derivative strategies to improve client retention. It is continuously innovating latency based high-tech trading platform and expanding our bouquets of trading strategies.

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Company reports strong performance in Q4FY23 with 3 fold jump in EBITDA

Mumbai (Maharashtra) [India], July 27: Wockhardt Ltd – global pharmaceutical and biotechnology is aiming to turnaround its business operations and has perused important strategic initiatives for the same. Company is eying big on the restructuring of the US Business, vaccine tie-up with Serum for vaccine manufacturing in UK and Novel Antibiotics research to drive the business forward. For the Q4FY23, company posted strong operational performance with 7% Y-o-Y growth in revenue with three fold jump in the EBITDA to Rs. 47 crore.  

In the restructuring of its US operations, company is shutting down its manufacturing facility at Morton Grove and transferring the site to contract manufacturing organisations. This restructuring is estimated to result in annual savings of ~US$ 12 Mn. Post restructuring company looks to maintain sales with a 40 percent gross margin and manufacture few products with higher margin through a third party.

Additionally, in March 2022, company had signed a 51:49 (Wockhardt 51 and Serum 49) Joint Venture with Serum Institute of India for manufacturing vaccines at its UK facility. As contribution for reserving capacity, Wockhardt has received a consideration of 10 million Pounds. The contract with Serum is for 150 million doses across 15 years and it has already identified two vaccines for the same. Company plans on manufacturing these vaccines post regulatory approvals and exhibit batches over the next 8-12 months.

Wockhardt is a leading R&D company and have comprehensive end to end drug discovery programs in Antibiotics. Six of the company’s programs have been granted Qualified Infectious Disease Product (QIDP) status by the USFDA. Company’s novel antibiotic – Emrok, which is already being marketed in India is expected to win approvals in eight other emerging markets in the next six to nine months. The flagship novel antibiotic – WCK 5222 is currently under global phase III clinical trials, which are expected to complete in the next 15-18 months. The company expects to market the product in the US, China, and India by 2025.

Wockhardt is a global pharmaceutical and biotechnology organisation, providing affordable, high-quality medicines for a healthier world. It is India’s leading research-based global healthcare enterprise with relevance in the fields of Pharmaceuticals, Biotechnology and a chain of advanced Super Speciality Hospitals. Company has 3 research centres and 12 manufacturing plants, with businesses ranging from the manufacture and marketing of Pharmaceutical and Bio-pharmaceutical formulations, Active Pharmaceutical Ingredients (APIs) and Vaccines.

The company has reported improvement in the operation and financial performance over the period of time and also managed to bring down its long-term external debt to Rs 608 crore from Rs 3,218 crore in financial year 2017. For Q4FY23, company reported 7% growth in revenues to Rs. 710 crore with EBITDA rise 3-fold to Rs. 47 crore.

Recently, CARE Ratings Limited (CARE Ratings) have assigned a rating of CARE BBB- to the Company and reaffirmed the ratings of CARE BBB- (Triple B Minus) for the Long/Short Term Bank Facilities and Non-Convertible Debentures of the Company. The reaffirmation and revision in outlook factors in the strong operational profile and experienced promoters along with healthy liquidity maintained by the Group.

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Flexy Virtual Office – FlexyVo 

Mumbai (Maharashtra) [India], July 27: Are you an ambitious entrepreneur seeking to put your company on a path of exponential growth? Flexy Virtual Offices (FlexyVO) is a virtual office solution designed to streamline business processes for a wide array of industries. With a primary focus on catering to ERP system integrators, outsourcing companies, Amazon retailers, web development companies, and Indian Notaries, FlexyVo is set to empower businesses with growth. Flexy offers flexible, cost-effective virtual office and business solutions tailored to any specific need.

In an ever-evolving business landscape, the importance of agility and adaptability cannot be overstated. Companies across various sectors continuously seek innovative ways to optimize their operations and reduce overhead costs without compromising productivity. FlexyVo emerges as the ultimate answer to these challenges, offering a diverse range of virtual office services that grant businesses the freedom to grow without being bound by traditional office spaces.

Key Features of FlexyVo’s Virtual Offices:

1. Prestigious US address: In the highly competitive business climate of the US market, establishing a reliable corporate presence is essential. FlexyVO equips Indian business owners with a business address that sets them apart from the competition.

2. Mail handling: The key to a profitable business is effective mail management. With FlexyVO’s mail-handling services, Indian entrepreneurs can be sure that their important communications are received, organized, and managed quickly, keeping them on track and in control.

3. Call answering services: FlexyVO ensures that business always appears in the best possible light because first impressions count. Their qualified call answering services manage incoming calls efficiently.  

4. Accessibility to workstations and meeting rooms: Adaptability is the key to success, and FlexyVO gives entrepreneurs instant access to fully equipped workstations and available meeting rooms.

5. Administrative support: Administrative support: FlexyVO’s all-inclusive administrative support, such as document handling, live receptionist support, document management, and local SEO, helps take the pressure off Indian entrepreneurs so they can focus on their primary business goals and increase production.

6. Cost efficiency: FlexyVo places great emphasis on pricing and offers virtual office packages at incredibly low prices. 

7. No loss of compliance – FlexyVo has a great team of experienced professionals to help Indian entrepreneurs register business licenses and ensure that their company is compliant with US rules.

Commenting on the launch, Natasha Mohan, CEO of Flexy, stated, “We are thrilled to introduce FlexyVo as a game-changer in the realm of business operations for India. India is an economic superpower. In the next 3 to 5 years, we will see the impact of the recent economic, fiscal and legal changes.”Flexy and Work Social are owned and operated by Indian entrepreneurs who understand the US and Indian business environment. 

To learn more about FlexyVo’s virtual office services and to explore the various packages available, please visit www.flexyvo.com.

About FlexyVo:

FlexyVo is a leading provider of virtual office solutions aimed at revolutionizing the way businesses operate. By offering cost-effective and industry-tailored packages, FlexyVo empowers companies in SEO services, Amazon retail, web development, legal, and notary sectors to streamline their operations and elevate their market presence. With a commitment to excellence, FlexyVo is at the forefront of driving business growth and success through innovative virtual office solutions.

Contact:

Email Id – info@flexyvo.com

Phone number – +1-833-463-5399

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New Delhi (India), July 27: On 26th July, CSC SPV celebrated its 15th establishment day with the subject- Transforming Governance & Digital Economy. The program was held in New Delhi in the August presence of Shri Alkesh Kumar Sharma, Secretary, MeitY, Shri Gautam Chakraborty, CEO, GAIL India, Shri K Vinod, General Manager – HPCL and Ms. Richa Mukherjee, Director – PayU India.

During the programme, Shri Alkesh Kumar Sharma said, “CSCs have played a significant role in promoting rural enterprise and Digital Inclusion, mainly for rural citizens. To fulfil the last mile gap, the role of CSCs will be very significant. CSC is the most important part of Government schemes. The vast network of CSC centres in India has worked excellently in various schemes like Digital Literacy, Tele-Medicine, Insurance, Tele-law, and Skill development. Common Service Centre has to play a significant role in Digital India initiatives of the government.” Recalling the contribution of the soldiers on the occasion of Kargil Day today, he said that while working like Indian soldiers, the entrepreneurs of CSCs have done a remarkable job in the field of education, health and connectivity, removing the basic challenges of the country. He said that since the year 2014, the number of CSCs has increased from 84,000 to about 5.5 lakhs. Hon’ble Secretary also appreciated the contribution of CSC women entrepreneurs.

Some important agreements were signed during the program. An agreement was signed with Power Conversion Technologies (PCTI) for Military Heritage Tourism. Under this, tourism services will be provided through CSCs to important places related to military achievements. MoU was signed between CSC and PayU for financial literacy. Under this, rural women will be trained in digital and financial literacy. Another agreement was signed between CSC and GAIL. Under this, GAIL’s gas services will be available to rural citizens.

Lt General (Retd) SP Goswami said, “CSC rural entrepreneurs have the ability to revolutionize India by empowering rural citizens and providing opportunities to access various government and other services. They are forwarding the government’s agenda in serving the underserved, especially those living in rural India.”

Welcoming the guests, Shri Sanjay Rakesh, Managing Director, CSC SPV, said, “With CSC, there is no need to visit cities to avail government facilities. CSC centers are providing their services at doorsteps in remote areas of the country. We have added a ‘Your Trusted Neighborhood Kiosk’ tag to our identity with an aim to strengthen the trust of CSC among the people. We are continuously increasing the capacity building of VLEs and District Managers.” He said we are also trying to improve our IT system to provide more information to VLEs. “CSC has done a lot in the last 9 years. But still, there is a lot of potential hidden within us from which we can achieve many development goals.”

During the program, Ms. Richa Mukherjee, Director-PayU India and other senior officials were also present.

During the program, the following new launches took place:

• CSC RPTO- Drone Training Centre at Karnal, Haryana (Remotely)

• CSC Bal Swasthya

• Launch of HPCL New Connection

• Launch of CSC Talent Academy Chandigarh for IELTS & PTE

• Soft launch of Military War Tourism

• CSC Olympiad Services

Top performing VLEs under Banking, Skill Development, Aadhar Services, eStore were felicitated.

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New Delhi (India), July 27: As the event industry in the country undergoes significant transformations, The Event & Entertainment Management Association – EEMA, once again races ahead in advocating nonpayment of royalties to music licensing companies for any religious ceremony, including weddings, which has been upheld by the Govt. of India. EEMA happily welcomes the recently issued notice by the Ministry of Commerce & Industry, Department of Promotion of Industry & Internal Trade (Copyright & Design Section).

The concern of paying music royalties to various licensing bodies for the use of music work or performance in various wedding functions has become a subject of considerable debate. Several complaints, representations, and grievances of various stakeholders and the general public for collection of royalties by the music licensing bodies were submitted to the Government as a response to which a Public Notice was issued recently, representing a significant step forward in addressing these concerns.

The notice reiterated that the performance of a literary, dramatic, or musical work or communication of such work to the public, any sound recording for any bonafide religious ceremony, including weddings, or any official government ceremony, does not constitute copyright infringement. The notice further refrains the music licensing bodies from entering into acts that contravene Section 52 (1) (za) of the Copyright Act 1957 and has directed that any demands of royalties should not be acceded to. 

Rajeev Jain, a senior EEMA member, commented that “The Event and Entertainment Management Association (EEMA) has once again emerged as a leading advocate in fighting the war against the payment of royalties to music licensing companies for using any musical work which is an integral part of the Indian Weddings.” EEMA, in collaboration with Deloitte, recently presented a draft of the country’s first-ever Wedding Tourism Policy to the Ministry of Tourism, which is a significant step toward establishing India as a premier wedding destination globally.

Ankur Kalra, Treasurer EEMA  who is spearheading the Music Licenses from EEMA, has expressed his thankfulness to the Ministry of Commerce & Industry for issuing the order which will now immediately stop the unlawful extraction of money in the weddings and social events under section 52 (1) (za) of Copyright Act 1957, and he expressed his deepest thank to the Ministry… A big step by Ministry, according to him.

In conclusion, Samit Garg, President of EEMA, said, “The wedding industry in India is poised for growth, and the notice issued represents a significant milestone and will most certainly act as a catalyst for its development. The Government’s commitment to supporting the industry and the contribution of various stakeholders is a welcome step towards establishing India as a leading destination for weddings, where celebrations and ceremonies  are  incomplete without “Music”!!”

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Mr. Shiva Ramarthi, CEO, Sri Jay Group

New Delhi (India), July 27: Meet Mr. Shiva Ramarthi, the inspiring CEO of Sri Jay Group, a company that invests in new businesses. He has been with the company from the start and also founded some successful startups of his own. Mr. Shiva Ramarthi has taken a big step by launching Uniplus, an overseas education consultancy under Sri Jay Group, which helps students easily study abroad, making their dreams come true.

Mr. Shiva Ramarthi believes that education is the key to success. He knows how important it is to get a good education and wants to help young people achieve their dreams of studying abroad. With his leadership, Sri Jay Group has grown and helped many new companies succeed.

Besides being a great CEO, Mr. Shiva Ramarthi is also an entrepreneur himself. He has started several successful companies in different industries. Many aspiring entrepreneurs look up to him for guidance and support.

Uniplus, the new startup, is a place where students can get help to study in other countries. Mr. Shiva Ramarthi wants to break the barriers that sometimes make it hard for students to go abroad. He and his team at Uniplus will help students find the right universities, courses, and scholarships. They will also guide them through the application process, making it easier for everyone.

During an interview, Mr. Shiva Ramarthi said, “Every student should have a chance to follow their dreams, no matter where they come from. Education is important, and we want to make studying abroad simple and open to all.”

Mr. Shiva Ramarthi cares about making a positive impact on society. He does many things to help others, like giving scholarships to students and supporting environmental projects. He also believes in supporting women entrepreneurs and giving them equal opportunities.

From being a young entrepreneur to becoming a successful CEO, Mr. Shiva Ramarthi’s journey shows us the power of hard work and never giving up. He believes in always learning and growing to achieve success. Now, with Uniplus, the overseas education consultancy, he hopes to change the lives of many young people, helping them achieve their dreams and make the world a better place.

As we look to the future, Mr. Shiva Ramarthi’s vision and leadership inspire us all. He shows us that we can make a difference in the world with determination and kindness. Sri Jay Group, under his guidance, is ready to make education and entrepreneurship better for everyone, one dream at a time.

For more information:

http://www.uniplusoverseas.com/

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Twin Trade shows offer a plethora of business opportunities as well as International exposure

Mumbai (Maharashtra) [India], July 27: ‘Steel Market Info’ a B2B Publishing and Exhibitions group is bringing India’s leading Houseware and Stainless Steel pipe shows to Mumbai, India by jointly organizing 13th Indian Stainless Steel Houseware Show and 6th Indian Stainless Steel Pipe Expo 2023 at Bombay Exhibition Centre, NESCO, Goregaon East, Mumbai from 18 to 20 August 2023. Spread over 100,000 sq feet, these expos will display modern innovations, new product range, cutting-edge technologies in houseware, stainless steel pipe and allied industries offering a complete business environment for B2B deals, joint ventures, bulk orders, networking and market expansion. For trade visitors, it is a golden opportunity to source Indian and global products under a single roof, enter into business partnerships and equip themselves with trends in this vital sector.

Says RL Choudhary, Founder of Steel Market Info magazine, “These expos offer a platform to Exhibitors to showcase their competitive advantage in terms of product design, features, benefits, brand value and costs in a focused and cost-effective manner as also gain first-hand knowledge of different market segments, trends, consumer preferences and retailer’s needs.”

More than 150 Exhibitors from India and abroad will display a wide range of Utensils, Cookware, Kitchenware, Restaurant & Hotelware, Home Appliances, Gift Items, Plasticware, Petware, Melamine, Tableware, Glassware, Bottles, Handles/Lids, Raw Materials, Abrasives, Laser Marking, pipes, machines, accessories, Pipe & Tube, Fittings, Coil, Wire Rod, Sheet, Flat, Furniture, Machinery and equipment, Tube Mill, Color & Designing Sheet and many other products to more than 10,000 buyers from India and 16 countries including UAE, Saudi Arabia, Iraq, Bhutan, Kuwait, Slovakia, Hongkong, Uganda, Ghana, Nepal, USA, Togo, Italy, Thailand, Bangladesh, Zimbabwe. Visitors comprise of institutional buyers, Govt. Dept. (PWD), traders, manufacturers, distributors, wholesalers, retailers, buying houses, importers and merchant exporters, modern trade and supermarkets, stockiest, Contractors, Fabricators, Architects, Builders, plant managers from Chemical, Pharma, Sugar, Dairy and other industries, Corporate buyers, Hospitalities, Hotel & Restaurant etc.

India’s largest and the world’s ninth largest stainless steel producer JINDAL Stainless Limited is the main sponsor of the show in which big brands like BHALARIA, ANGEL, CSW, MAXFRESH, PRABHA, RASHA, RUDRA, SAGA, TAJ MAHAL, PRESTIGE, HAWKINS, SIGNORAWARE etc. are participating. Show attraction (world record): 5000+ Stainless Steel Houseware and Hotelware products will be showcased by Bhalaria Metal Craft pvt ltd.

MSME & NSIC have also endorsed this unique trade fair by providing subsidy to their members. This show is supported by many national and local Body Trade Associations like All India Stainless Steel Industries Association, Stainless Steel Merchants Association, Metal & Stainless Steel Merchants Association, Stainless Steel Re-Rollers Association, Shree Bhayander Stainless Steel Manufacturers & Traders Association, Vasai-Nalasopara-Virar Stainless Steel Industries Association.

“Steel Market Info”, a quarterly magazine dedicated to the stainless steel industry since 1999, is the only publisher plus show organizer of its kind promoted and managed by an ex-serviceman. Chief editor of the magazine, RL Choudhary, having a 17-year-long illustrious career with the army, has been consistently working for the promotion and growth of the Indian Stainless Industry. With 35000+ readers in India and 11,000+ readers from 150 countries, the magazine is identified as a bridge between manufacturers and traders through its timely information.

For more information, kindly visit the website https://www.inoxhousewareshow.com or https://www.sspipeexpo.com/

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Ahmedabad (Gujarat) [India], July 27: Edelweiss Mutual Fund has made a significant move to benefit passive investors by reducing the expense ratio across its Passive Equity Index schemes in direct plans. The expense ratio has been cut to a record-low of 0.05 percent, the lowest among Nifty 50 index funds in India. This reduction aims to boost investor returns and minimize tracking errors for passive funds.

The expense ratio reduction is expected to bring down tracking error and tracking difference, which is the difference between the returns of the fund and the benchmark index it aims to replicate. This shall help these low cost passive funds stay closer to their benchmark performance, giving investors more accurate exposure to the index they are tracking.

Edelweiss MFs schemes changed their expense ratio in below index funds with immediate effect –

Edelweiss Nifty 50 Index Fund – Direct Plan 0.05%

Edelweiss Nifty Next 50 Index Fund – Direct Plan 0.09%

Edelweiss Nifty Midcap 150 Momentum 50 Index Fund -0.14%

Edelweiss Nifty Smallcap 250 Index Fund -0.14%

Edelweiss NIFTY Large Mid Cap 250 Index Fund -0.14%

Edelweiss Nifty 100 Quality 30 Index Fund -0.14%

This strategic decision by Edelweiss Mutual Fund, known for its innovative and low-cost offerings, reinforces its commitment to provide good passive solutions to investors. The fund house achieved a notable milestone earlier this year by crossing 1 lakh crore AUM. With this latest move, Edelweiss Mutual Fund sets a new industry benchmark for expense ratios in India, attracting investors seeking optimal returns with minimized costs.

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The most renowned gifting platform of India is all set to make a comeback for its 22nd edition of Gifts World Expo 2023, which will be held on 27-29 July 2023 at Pragati Maidan.

New Delhi (India), July 27: MEX Exhibitions Pvt Ltd is gearing up to organize the next edition of Gifts World Expo at Pragati Maidan, New Delhi from 27-29 July 2023, which will be the largest B2B gifting and promotional solutions exhibition. The preparations are underway to make it a highly anticipated event in the near future. The exhibition will feature an extensive array of products in various diversified segments to provide visitors with a range of options to choose from. The upcoming 22nd edition of Gifts World Expo is poised to mark the beginning of the gifting and festive season, offering significant business deals and ample networking opportunities across the show floor. With its unwavering commitment to excellence, the exhibition promises to bring in an ocean of opportunities for all attendees by its history of attracting top established brands from the gifting industry. Building upon its impeccable track record, the exhibition has consistently attracted leading brands and witnessed a massive footfall in the past, making it an imperative event for industry professionals and gifts enthusiasts alike.

The exhibition organized by MEX Exhibitions Pvt Ltd, is renowned for its industry-leading expertise in the exhibition field. With a strong track record of bringing together prominent companies and well-known brands, the expo has become synonymous with astonishing gifting solutions. It consistently receives commendable responses from attendees around the globe, solidifying its reputation as an imperative event in the industry. The exhibition showcases a wide variety of products, meticulously categorized into sections like, Corporate Gifts, Celebration Gifts and Festive Gifts. It caters to professionals from diverse sectors, including Corporates, IT, Pharmaceuticals, Hospitality and more, ensuring that their sourcing requirements are comprehensively met. Gifts world expo provides a dynamic platform for presenting the latest trends and innovations in the gifting industry. It encompasses a broad spectrum of gifting categories, encompassing a wide range of options such as: Customized Gifts & Promotional Products; Beauty, Health & Wellness Gifts; Gourmet Hampers; Custom Branding Machinery; Electronic Gadgets & Home Appliances; Awards & Rewards; Handicrafts, Home Decor & Furnishings; Houseware & Kitchen Appliances; Stationery & Office Supplies; Innovative Gifting Boxes; Premium Gifts,  Gold & Silver Gifts; Lifestyle Products and Watches & Clocks & more. With over 500 exhibitors representing more than 2000 brands and showcasing over 20,000 products, the show caters to buyers with diverse budgets and preferences. Leading brands such as United Colors of Benetton, Tommy Hilfiger, Boat, Zebronics, Kimirica, Bombay Shaving Company, U&I, Ubon, Chumbak, Titan, Jack & Jones, Linc, Luxor,Happilo and Skechers will be present at the event.

Furthermore, several exciting show highlights have been introduced to the exhibition floor like Start Up & Innovation Zone, Sustainable Gifting Product Gallery, Popcorn Cafe and Gaming Zone for buyers to explore innovations and unwind between their busy schedules.   The show is supported by CGAI, Handloom Handicrafts Exporters Welfare Association and Pen & Stationery Association of India, along with our esteemed show sponsors.  Happilo, the title sponsor, Mutha Impex as the registration sponsor, Ubon sponsors the carry bags and lanyards, and Play R sponsors the gaming zone.

In the upcoming edition, gifts world expo will introduce separate pavilions exclusively dedicated to two esteemed business networking organizations, BNI and CGAI. The organizations play a vital role in promoting growth and innovation within the industry by facilitating connections between businesses. Gifts world expo, with its diverse range of exhibitors and buyers, offers an ideal setting for businesses to showcase your products and services, connect with potential clients and gain insights into latest trends and technologies. With the esteemed title of being the largest gifting show in the nation, gifts world expo takes great pride in its accomplishments. The upcoming edition promises to surpass all previous ones, as it aims to bring together a wide array of participants, including suppliers, manufacturers, retailers, buyers and stakeholders. This exhibition caters to a diverse range of professionals and industries, including advertising agencies, boutiques, pharmaceutical companies, software firms, FMCG, department stores, distributors, duty-free and travel retailers, event companies, government agencies, home and lifestyle stores, the hospitality sector, multinational corporations, specialist retailers, overseas buyers and many more.

For more information, please visit www.giftsworldexpo.com

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