Category: Business

Mumbai (Maharashtra) [India], July 26:   Star Housing Finance Limited (Star HFL), a BSE listed company (BSE Scrip code BOM: 539017) semi urban and rural focused home finance company has maintained its growth trajectory in the retail home finance space and has resultantly reported strong business and financial performance for the quarter ending on June 30, 2024.

Reports Robust Business and Financial performance for the period ending June 30, 2024. AUM up 74 % Y-o-Y; Income up 71% Y-o-Y; PAT up 95% Y-o-Y

During the period Star HFL registered milestones across business areas for the quarter ending June 30, 2024 enlisted as below:

Business Numbers: AUM increased 73.55 % y-o-y to Rs. 471.41 crs. The Company disbursed Rs. 61.23 crs in the quarter under review.

Income Growth: Interest income grew by 61.43 % y-o-y on the back of strong traction in disbursements. Net Interest Margin (NIM) stands at 7.04 %

Asset Quality Remains Intact: PAR (0+ days past due) stood at 3.38 %, of which GNPA stands at 1.57 % and NNPA stands at 1.12 % as of June 30, 2024

Robust Profitability: Profit before Tax registered 87.98 % y-o-y growth

Liability Scale Up: Star HFL has strong relationships with Banks and FIs to aid the loan book growth. Current borrowings stand at Rs. 335.35 crs through 6 Banks and 11 FIs. The liability pipeline is robust and is planned as per the business plan for the financial year

Strong Capital Levels: Net-worth as of Jun 30, 2024 stands at Rs. 137.77 crs. Leverage levels remain modest at 2.43x

ESOP II Approval: Continuing with the philosophy of employee ownership, Star HFL board has approved the ESOP II scheme for eligible employees. This is the second scheme implemented by the Company considering the expanded employee base and the contribution made by eligible employees to the growth of the Company

Dividend payout: Star HFL has announced a 50% increase in dividend payout from 5p to now 7.5p, per share, subject to shareholder approval in the ensuing AGM

Lending Suite Upgraded: Star HFL has completed deployment of core lending suite for end-to-end processing of home loan applications along with receivable management support

Ratings: Star HFL is currently rated BBB / Stable by CARE and India Ratings.

Operating and Financial Performance

Speaking on the performance for the period, Mr. Kalpesh Dave CEO of Star HFL said, “Star HFL continues to scale up with focus on asset quality. We are now at the threshold on crossing Rs. 500 crs AUM milestone and are well poised to take thes next leap of Rs. 1000 crs AUM over the next few quarters. The branch network is now diversified with multi-space across 34 locations with a staff strength of 280+ employees and targets to expand to over 50 locations in existing and newer geographies. We shall continue to invest in branch expansion through the year, keeping target of Rs. 50 crs steady state monthly disbursals to be achieved over the next few quarters. The technology has been augmented to complement the planned scale up. We shall continue to strengthen capitalization levels of the company in-line with growth requirements and subject to all necessary approvals and compliances.”

Speaking about the prospects of retail housing finance, Mr. Kalpesh Dave said, “The relaunch of PMAY through PMAY-Urban 2.0 that entails allocation of Rs. 10 lakh crs with a focus to financially assist in construction of 3 crore additional houses, bodes well for first time home buyers and strengthens the tailwinds in the sector. Star HFL is well poised to leverage the benefits that may accrue post implementation of the scheme. The scale up in its existing and planned new geographies should get bolstered with this thrust of the Government and Star HFL remains fully focused to evolve as a meaningful player in low ticket retail housing finance place over the next 2-3 years”

About Star Housing Finance Limited (Star HFL)

Star Housing Finance Limited (Star HFL) is BSE listed rural focused housing finance company. The Company has been operational in the low-cost housing finance space since 2009. Star HFL provides long term housing finance assistance to EWS/LIG families towards purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across states of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, NCR and Tamil Nadu. Star HFL is registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY) and has received subsidy for its qualified customers under CLSS scheme. Star HFL is headquartered in Mumbai, Maharashtra.

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Bangalore (Karnataka) [India] July 26 : PURVI FENCE INDIA PVT LTD, based in Bangalore announces the launch of India’s first-ever Grass Fencing manufacturing.

This marks a major milestone as the company steps into a niche market with a product that beautifully blends privacy features with the aesthetic appeal of Natural Grass.

The newly launched Grass Fence are crafted to resemble natural grass, offering an elegant and eco-friendly solution for enhancing the privacy and aesthetics of both residential and commercial properties. This is especially appealing for urban environments, gardens, and any outdoor space that benefits from a natural Appearance.

The introduction of Grass Fencing is poised to revolutionise the fencing industry in India which boosts a significant market size valued in billions of rupees. With the rising demand for sustainable and attractive fencing solutions, this innovative product is expected to rapidly gain market share, with projected growth rates of 15-20% annually in the sector of sustainable fencing options.

Bhavesh Jain and Pratham Parekh, the founders of PURVI FENCE INDIA PVT LTD, commented on the launch, “Our initiative to start the production of Grass Fencing aligns with our dedication for innovation and sustainability. This product is designed not only to meet the growing market demand but also to offer a solution that respects the environment and enhances the aesthetic value of any space.”

Versatile Applications of Grass Fences:

● Residential and Commercial Properties: Provides privacy and adds a touch of nature to urban and garden settings.

● Event Decor and Public Spaces: Offers decorative solutions for events and enhances green spaces in urban areas.

● Hospitality and Corporate Sectors: Utilised in hotels and office spaces for

aesthetic improvements and creating natural ambiences.

For more information on PURVI FENCE INDIA PVT LTD and their innovative grass fencing solutions, please visit Purvi Fence India Pvt Ltd.

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Mumbai (Maharashtra) (India), July 26 : While only 27% of Indians are financially literate, the remaining remains in the dark. However, the Mumbai-based learning institute, Grandeur Investments, is changing the scenery of financial education. Founded in 2023 by visionary entrepreneur Dhrutesh Jadhav, this groundbreaking institute offers an unparalleled learning experience for aspiring investors of all ages and backgrounds.

The Innovative Learning Difference 

The founder, Mr. Jadhav, and investor Piyush Rambhia saw an opportunity to fill a critical gap in Mumbai’s educational landscape. “We envisioned a place where anyone could learn to harness the power of the stock market,” the founder explains. “Grandeur Investments is a movement towards financial independence for all.”

The institute stands out with its 100% offline teaching model and peer-to-peer learning approach. Interactive sessions, including quizzes and memory games, reinforce key concepts and strategies.

“At Grandeur Investments, we believe true understanding comes from practical experience and interactive learning,” says Mr. Rambhia. “We aim to empower individuals to navigate the complex world of investments with confidence.”

Making Investment Education Accessible to All

The institute’s affordable pricing and all-age suitability make high-quality investment education accessible. Impressively, Grandeur Investments boasts investment strategies with up to 96% accuracy, showcasing the effectiveness of their methods.

Limited batch sizes ensure each student receives personalised attention, fostering an optimal learning environment. This approach is designed to produce tangible results, equipping students with practical skills for their investment journey.

A New Era of Financial Literacy

Grandeur Investments stands at the forefront of a new era in financial education. By combining innovative teaching methods, accessibility, and a commitment to practical learning, the institute is reshaping how people perceive and interact with finance.

Being Mumbai’s first unique stock market institute, Grandeur Investments is more than an educational facility; it catalyses change, empowering individuals to take control of their financial futures through knowledge and informed investing.

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Webdeva, an organization started by a couple in Ujjain, makes local service providers self-reliant by connecting them to the latest technologies.

Ujjain-based Webdeva announced its plan to expand its presence across India with launches in many more cities, including Mumbai. In a strategic move to cater to local service providers, the organization is connecting them with the latest technologies, such as QR codes, online payments, and Google Business, to help them become self-reliant. 

Local service providers from various cities can soon manage their listings and leads efficiently on a free listing page initiated by Webdeva. The organisation that has been immensely successful in making Indore’s local service providers self-reliant are now expanding their focus to other cities, including Mumbai. 

“With the current expansion and latest technologies to help businesses become self-reliant, we are well on course to reach new heights. Expanding to more cities in India, like Mumbai, is a strategic decision to make local service providers self-sufficient. Apart from strategic plans, innovation will continue to be the core of our offerings, fostering the growth of our customers in the domestic markets,” said Intekhab Khan, the Founder of Webdeva and Indore.city platforms.

Commenting on the expansion, Shiza Khan, also the Founder of Webdeva and Indore.city, stated, “As we prepare for further expansion, our focus will continue to be on delivering world-class services, ensuring they are accessible to everyone. While we are thrilled with the love Indore.city has received in Indore, our expansion to Mumbai and other cities in India emphasizes our commitment to enabling selected businesses to manage their leads and listings through a free listing page. Our aim is to become the catalyst for their success in these regions within the next months. We are excited and looking forward to receiving the same warmth and appreciation we have enjoyed from Indore so far.”

Local service providers in cities like Mumbai will be able to access a free listing page from Webdeva. The organisation operated by the couple from Ujjain-MP, Intekhab Khan and Shiza Khan will allow businesses to manage their leads and listings, guiding them on a path of self dependency.  

While the free listing page was available for selected businesses in Indore previously, Webdeva aims to make the free listing page accessible in more cities within the next few months.  

Webdeva is a digital partner for web design and development crafting compelling experiences for its customers. They specialize in creating user-friendly websites to meet unique needs of businesses. Be it custom web application or e-commerce platform, they help local service providers build a strong digital foundation as well as connect them with the latest technologies.

Indore.city, a product of Webdeva, helps users learn all about the places to eat, shop, and unwind in Indore. Be it local events or business listings, Indore.city makes detailed reviews and recommendations accessible for people wanting to explore Indore. Finding some highly recommended restaurants in Indore is no longer a hassle with the Indore.city website by Webdeva.

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Mumbai (Maharashtra) (India) July 26 :  Amber Nine by Alisha, an exquisite luxury jewelry brand, is captivating the jewelry world with its unparalleled designs and sophisticated aesthetics. Founded by the visionary designer Alisha, Amber Nine combines traditional craftsmanship with contemporary elegance, creating pieces that are both timeless and unique.

About Amber Nine by Alisha

Amber Nine by Alisha stands as a testament to the designer’s dedication to quality, creativity, and innovation. Each collection is thoughtfully curated to reflect the brand’s philosophy of blending classic elegance with modern trends. The result is a line of jewelry that resonates with women who appreciate fine craftsmanship and luxurious materials. Our aim is to give our clients premium quality imitation jewelry at affordable prices.

Key Features and Offerings

Unique Designs: Amber Nine by Alisha prides itself on offering designs that are truly one-of-a-kind. Each piece is meticulously crafted to ensure it stands out, featuring intricate details, rich materials, and impeccable finishes.

High-Quality Materials: The brand is committed to using only the finest materials. This attention to detail guarantees that each piece is not only beautiful but also durable and comfortable.

Craftsmanship: At the heart of Amber Nine by Alisha is a team of skilled artisans who bring each design to life. Their expertise in traditional techniques, combined with modern innovation, results in jewelry that is both artistically profound and perfectly constructed. Our focus is to work with artisans who can give us a modern take on traditionally rooted jewelry from our country.

Customization: Understanding that every woman is unique, Amber Nine by Alisha offers customization services. Clients can work with the designer to create bespoke pieces tailored to their specific tastes and measurements, ensuring a perfect fit and personalized style.

Diverse Collections: From exquisite bridal jewelry to stunning statement pieces, Amber Nine by Alisha offers a diverse range of collections. Each collection is designed to cater to different occasions and styles, making it easy for women to find the perfect piece for any event.

Amber Nine: Your Destination for Luxury Imitation Jewelry

Amber Nine is your destination for premium luxury imitation jewelry, specializing in exquisite pieces tailored for destination weddings. Whether it’s intricately designed bridal sets or bold statement pieces, each creation reflects the brand’s commitment to excellence and a keen understanding of evolving fashion trends.

Our commitment to quality is reflected in the fine materials and intricate techniques employed in the creation of each jewelry piece.

For those seeking the perfect complement to their destination wedding ensemble, Amber Nine offers a curated selection of jewelry that harmoniously blends cultural richness with modern aesthetics. Experience the blend of tradition and modernity, the essence of ethnicity and contemporary elegance, with Amber Nine.

Client Testimonials

Amber Nine by Alisha has garnered praise from clients who appreciate the brand’s commitment to excellence. Testimonials highlight the exceptional quality, unique designs, and the personalized shopping experience. Many clients have described wearing Amber Nine by Alisha as a transformative experience, enhancing their confidence and style.

Recent Developments

Amber Nine by Alisha continues to innovate and expand its offerings. The latest collection, inspired by the elegance of nature, features intricate patterns, organic motifs, and a palette of earthy tones. This collection reaffirms the brand’s dedication to sustainability and ethical practices.

In addition to its stunning collections, Amber Nine by Alisha has launched a new user-friendly website, ambernine.in, providing customers with a seamless online shopping experience. The website showcases the latest collections, offers customization options, and features a blog with jewelry tips and insights from the designer.

Connect with Us

Follow Amber Nine by Alisha on Instagram to stay updated on the latest collections, events, and exclusive behind-the-scenes content. Join our community of jewelry enthusiasts and be inspired by our journey in the world of luxury jewelry.

Contact Information Amber Nine by Alisha

23, Deven Industrial Estate, IB Patel Rd, Goregaon East, Mumbai, Maharashtra

Email: contact@ambernine.in

Instagram: @ambernine_by_alisha

Website: www.ambernine.in

About Amber Nine by Alisha

Amber Nine by Alisha is a luxury jewelry brand dedicated to creating timeless and elegant designs. With a focus on high-quality materials and expert craftsmanship, Amber Nine by Alisha offers unique and customizable pieces that cater to the modern woman’s sense of style and sophistication.

Amber Nine  continues to redefine luxury  imitation jewelry, offering women exquisite designs that stand the test of time. Experience the allure of Amber Nine and elevate your jewelry collection with pieces that embody elegance and grace.

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New Delhi (India) July 26 : KSHITIJ POLYLINE RAISES 25 CRORES FROM RIGHT ISSUE. TATA PLANNING TO TAKE 20% STAKE IN COMPANY. ANALYST RECCOMENDING A BUY WITH 1 YAER  TARGET OF 150/- FOR THE STOCK.

The company has raised Rs 25 crores from its recently closed rights issue. “The proceeds from this rights issue will be strategically utilized to reduce our debt and procure new machinery, aligning with our goals for sustainable growth and enhanced operational efficiency. As a result, we anticipate that our existing finance cost of Rs 217.98 Lakhs will reduce by more than 50 per cent, while our production capacity is expected to increase by 30-40 per cent in FY25,” the company said.

According to the company, it has emerged as the highest bidder for Omkar Speciality Chemicals, with a bid of approximately Rs 23.14 crores. This acquisition has been approved by the creditors’ committee and is currently pending final approval from the National Company Law Tribunal (NCLT).  

Company would also utilize part of the proceeds in its waste management project. This is a big booster for the company. There are market rumours that TATA is palnning to take a sizeable stake in company at around 50/-. The company has a bright future and outlook. Market analyst give a target of 150/- for the stock in a tenure of 1 year holding.

Analysis of Kshitij Polyline’s Recent Developments and Analyst Recommendations of 150/- for the stock in 12 months time frame.

1. Rights Issue and Utilization of Funds:

Kshitij Polyline has successfully raised Rs 25 crores through a rights issue. The company plans to use these funds strategically:

– Debt Reduction and Machinery Procurement: The primary objectives are to reduce debt and invest in new machinery. This strategy aims to enhance operational efficiency and support sustainable growth.

– Expected Financial Impact: The company anticipates a significant reduction in finance costs, potentially more than 50%. Additionally, production capacity is projected to increase by 30-40% in FY25, indicating a robust growth trajectory.

2. Acquisition of Omkar Speciality Chemicals:

Kshitij Polyline has emerged as the highest bidder for Omkar Speciality Chemicals, offering approximately Rs 23.14 crores. This acquisition is subject to final approval from the National Company Law Tribunal (NCLT) after approval from the creditors’ committee. This move suggests strategic expansion and diversification within the chemicals sector.

3. Waste Management Project:

Part of the proceeds from the rights issue will also be allocated to a waste management project. This demonstrates the company’s commitment to environmental sustainability and regulatory compliance, potentially enhancing its corporate social responsibility profile.

4. Strategic Partnership Rumors with Tata:

There are market rumors suggesting that Tata Group is considering acquiring a significant stake in Kshitij Polyline at a speculated price of around Rs 50 per share. If realized, this partnership could provide substantial strategic advantages and financial backing to Kshitij Polyline, bolstering its market position and growth prospects.

5. Market Analyst Recommendations:

Market analysts have a positive outlook on Kshitij Polyline, recommending a ‘buy’ rating with a one-year target price of Rs 150 per share. This target reflects optimism regarding the company’s strategic initiatives, including debt reduction, capacity expansion, potential acquisitions, and the rumored partnership with Tata Group.

Conclusion

Kshitij Polyline’s recent developments, including the successful rights issue, strategic allocation of funds, potential acquisition of Omkar Speciality Chemicals, waste management project, and rumored partnership with Tata Group, highlight its ambitious growth trajectory. Market analysts’ optimistic target price underscores confidence in the company’s ability to capitalize on these initiatives and deliver value to shareholders in the near term. Investors looking for growth opportunities in the chemicals sector may find Kshitij Polyline an attractive prospect based on its current strategic direction and analyst recommendations.

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StockGro employees exhibit unprecedented job satisfaction amidst corporate discontent

Bengaluru (Karnataka) [India], July 25: In an era where the term ‘corporate majboori’ echoes through the cubicles of many companies, StockGro, a Bengaluru-based fin-edu firm, is making headlines for a very different reason. Its employees are consistently reporting high levels of job satisfaction, setting a remarkable example in the corporate world.

While many professionals today express dissatisfaction with their work-life balance, StockGro seems to have cracked a code that eludes others. Employees at StockGro have been notably vocal about their positive experiences, contrasting sharply with the broader discontent reported across various industries.

The reasons behind this trend at StockGro remain unclear, as the company has not publicly disclosed any specific policies or practices that could drive this unusual employee happiness. However, insiders suggest that a combination of supportive management, employee-centric policies, and a dynamic work culture may be contributing factors.

“There’s a new spark in the view from StockGro’s office these days.  It gives me even more reason to look forward to being at work,” posted a StockGro employee. “The enthusiasm at StockGro has recently surged to new levels of happiness,” posted another one. As more organisations seek to attract and retain top talent, the spotlight on StockGro’s approach could inspire a shift in corporate cultures towards more sustainable and employee-friendly practices.

Experts believe that StockGro’s apparent success in fostering a positive workplace could serve as a case study for other companies striving to improve employee morale and retention. “In today’s competitive talent market, companies like StockGro that prioritise employee well-being are not just doing good; they are also positioning themselves strategically for greater productivity and success,” said a leading HR consultant.

StockGro is India’s premier experiential social learning platform for trading and investments. With over 35 million users nationwide, StockGro is the trusted destination for individuals seeking to learn and master the art of trading and investments. StockGro has successfully empowered financial enthusiasts across 1000+ prestigious educational institutions, offering a unique and immersive learning experience.

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