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Business Wire India - Multimedia: Digest for December 07, 2023

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Rural-fintech Navadhan, today announced that it has raised 40 Cr (USD 5M) in its Pre-Series A round led by Prime Venture Partners. Existing investors, Varanium NexGen Fintech Fund and Gemba Capital also participated in the round. The new funds will be used to further enhance the company's AceN tech platform and scale up the company's distribution and service delivery model.
 
Navadhan's AceN tech platform enables full-service customer fulfilment starting from sourcing, seamless digital enrolments, credit underwriting, servicing, payments to collections. It has over Rs.300 Cr of lines available from 20 Bank/ NBFCs on its platform with whom AceN enables API integrations into their existing systems. Navadhan's own NBFC licence has played a key role in ensuring regulatory compliant workflows for co-lending.
 
With the power of data science, Navadhan's proprietary alternative underwriting model assesses the digital footprint and cash flow surrogates. This solves the lack of income proofs and documents which has kept the banks away from such markets. This innovative approach addresses the challenges of the predominantly cash-based economy and limited banking track record in rural and informal markets. Navadhan has both people and Tech on the ground with a brick-to-click model.
 
Speaking on the fundraise, Nitin Agrawal, Founder of Navadhan said: "Prime has a reputation of being a thoughtful investor and we greatly enjoyed the interactions and rigour with which they worked with the Navadhan team, including visiting and interacting with our customers. We are excited to have them join our journey in building a Tech-led business model with a Revenue-first approach and a vision of creating new-wealth for the rural-preneurs. The new fundraise will add tailwinds to our efforts at building solutions to bring such small-businesses to the formal economy. We will continue to build it for Bank, NBFCs to leverage on the regulatory advantage of priority sector assets. It is still early days for us and we are excited by the massive opportunity ahead of us."
 
Navadhan was co-founded by Nitin Agrawal along with 3 teammates – Vijay Haswani, Anirudh Ramakuru and Amit Biswal. Nitin saw the recent surge of digitisation as an opportunity to build a tech-led finance platform. This comes from his 2 decades of experience including leading Product-Tech for micro-banking and agri-channel finance at ICICI, setting up a rural finance business for Fullerton India and in the recent past, serving as CEO of Spandana Sphoorty, a listed NBFC-MFI.
 
"The MSME sector in India has always been credit-starved, and yet remains one of the critical growth sectors in the country. Nitin, his co-founders and the Navadhan team, have demonstrated an extremely viable and tech-driven model for distribution, underwriting, and robust collections, while leveraging co-lending to achieve meaningful scale. We truly believe they have created a very attractive model and are delighted to be the catalyst in the next phase of growth of this company," said Sanjay Swamy, Managing Partner, Prime Venture Partners.
Business Wire India

  • 15 students spanning from different corners of India such as Budgam, Namsai, Uttarey, Gir Somnath etc felicitated with cash rewards at the launch of Dettol Banega Swasth India Season 10.
  • Dettol Hygiene Olympiad 2.0 reached over 30 million students across 28 states and 8 union territories of India, including the last villages bordering neighboring countries.
 
Reckitt, world's leading consumer health and hygiene company, announced winners of the second edition of Dettol Hygiene Olympiad, the biggest hygiene Olympiad in India under Reckitt's flagship campaign Dettol Banega Swasth India. The Olympiad was organized with the aim to raise awareness about the role that hygiene plays in preventing childhood illnesses. The 15 Olympiad winners, accompanied by their teachers, were felicitated at the launch of Dettol Banega Swasth India Season 10 in Mumbai.
 
Dettol Hygiene Olympiad 2.0 successfully reached over 30 million children across 28 states and 8 union territories in the country, empowering children even in the most remote corners of India with essential knowledge and best practices around handwashing hygiene. Students in 2500 gurukuls and other religious education schools also participated, with exam papers available to them in Sanskrit language to ensure accessibility to a diverse audience. The exam was divided into five levels for children aged 6 to 16 years, comprising of Multiple-Choice Questions (MCQs) on health and hygiene. Students from class 1 and 2 appeared for level 1 examination; level 2 exam was taken by the students of class 3 and 4; level 3 exam was for class 5 and 6; level 4 for class 7 and 8; and level 5 was taken by the students of class 9 and 10. A total of 15 students (three in each level) across the country were awarded cash prizes, with the first position winning INR 50,000, second position winning INR 35,000 and third position winning INR 15,000.
 
Ravi Bhatnagar, Director, External Affairs & Partnerships, SOA, Reckitt, said, "Reckitt's commitment to hygiene, health and sanitation has motivated India's young minds to champion the domains associated with positive sanitation. We are delighted to witness the astounding results of the second edition of Dettol Hygiene Olympiad (DHO) that took on the formidable task of reaching the farthest corners of India; from Namsai and Anjaw, the last villages perched on the border of Arunachal Pradesh, to the remote Talala in Gujarat; from Uttarey near the Nepal border in Sikkim and Champai in Mizoram, to Budgam in Kashmir. It gave us immense pleasure to celebrate the success of children from different corners of India and are confident that their enthusiasm and knowledge will contribute to the country's health progress."

 
Position Student District State/UT
Level 1 winners (Class 1-2)
1 Somesh Uttarkashi Uttarakhand
2 Roshan Panika Namsai Arunachal Pradesh
3 Avreet Kaur Sirmour Himachal Pradesh
Level 2 winners (Class 3-4)
1 A Oviya Meenatchipet Puducherry
2 Naveen Bikaner Rajasthan
3 Pari Sonker Gorakhpur Uttar Pradesh
Level 3 winners (Class 5-6)
1 Sakshi Kota Rajasthan
2 Stanzin Puzang Leh Ladakh
3 Shamanoor Ibrahimbhai Majgul Jambur, Gir Somnath Gujarat
Level 4 winners (Class 7-8)
1 Safeena Batool Naugawan, Amroha Uttar Pradesh
2 Nikhil Chaube Jagdore, Maharajganj Uttar Pradesh
3 V Saran Kumar Tiruchirappalli Tamil Nadu
Level 5 winners (Class 9-10)
1 U Dinesh Nagarkurnool Telangana
2 Fozia Zehra Ichigam Budgam Jammu & Kashmir
3 Pema Choden Tamang Uttarey, Gyalshing Sikkim
 























Ensuring last mile access and enlightening young minds with the correct knowledge about hygiene and sanitation, Dettol Hygiene Olympiad provides a nationwide platform to embrace positive sanitation. Through various engaging activities and the Dettol Hygiene Curriculum, Dettol Banega Swasth India remains dedicated to educating children about the six pivotal handwashing occasions through Dettol Hygiene curriculum programme which includes washing hands after defecation, and the use of toilets; before eating; before preparing and serving food; before feeding infants/children; after cleaning a child's bottom, and after coughing/sneezing during illness. The program will be back for its third edition next year, with an aim to reach a greater number of children and achieve more positive impact.
Business Wire India

Retail investor participation in the Indian financial markets has seen a tremendous uptick in the post-pandemic world. Despite this, a disturbing trend has emerged. While some traders undoubtedly have a high success rate in the markets, most bleed red and lose significant amounts of capital. A recent study by the Securities and Exchange Board of India (SEBI) that substantiated this state of affairs found that 9 out of 10 traders lost money in the F&O segment — with average losses coming in at Rs. 1.1 lakhs. 
 
In light of this concerning trend, analysing trade patterns emerges as a crucial factor in setting successful traders apart from those who incur losses. Understanding and addressing the 'Andekha Sach' or unseen truths behind their trading decisions becomes essential for traders in this challenging environment. It is also vital to identify and rectify blind spots in their trading strategies — a task that many traders struggle to do effectively on their own. This brings us to the pressing need for analytical tools and resources that can assist traders in gaining a more profound and comprehensive understanding of their market actions.
 
Nilesh Sharma, Executive Director & President of SAMCO Securities Limited, believes there's one crucial aspect that makes a difference: post-trade analysis.
 
With over a decade of experience in the securities industry, Sharma has had a rewarding professional journey that has given him incisive insights into the behaviour of traders across various demographics. As the ED of SAMCO Securities, he is now in a unique position that allows him to understand the challenges faced by traders today and develop tailored solutions to optimise their trading performance. 
 
The trading app from SAMCO Securities is one such offering from the brokerage firm. In its upgraded avatar, the app offers several unique features that empower traders to look beyond mere profits and losses and truly understand their trading performance. Aptly named 'Andekha Sach' or hidden truths, these features analyse the past trades of every trader to reveal previously unseen insights about their trading strategies. The trading insights are accompanied by actionable suggestions that allow traders to improve their overall success rate in the market segment of their choice. 
 
SAMCO's trading app features several specific trade analytics that give traders more clarity on their trading patterns. These metrics quantify the trader's performance in the markets and add a new depth to their trading story. 
 
4 Key Trade Analytics that Reveal the Andekha Sach
 
  • Strike Rate
 
The strike rate indicates a trader's rate of success or failure. It is simply the percentage of profitable or loss-making trades executed in any given period. On SAMCO's trading app, traders can compare their winning and losing strike rates based on the strategy used, the market sector or market capitalisation. 
 
A high winning strike rate indicates that a trader is adopting winning strategies or is trading in market segments that they are familiar with. A high losing strike rate, on the other hand, calls for a revaluation of the trading plan. Please refer to Image 2.
 
  • Average Profit or Loss Size
 
Traders may track whether they've gained or lost in the markets, but such profits and losses are rarely quantified. SAMCO's trading app makes it possible to track this metric in post-trade analysis. It shows traders the average size of the profits/losses generated per trade over a given period.
 
Ideally, traders must aim to maximise their average win/profit size, while keeping the average loss size to a minimum. By comparing the average win/loss sizes across strategies, sectors and market cap segments, retail participants can identify areas that require additional efforts. Please refer to Image 3.
 
  • Average Holding Period
 
The average holding period in SAMCO's trading app is a feature born out of the lesser-known truth — that traders must let their winners run, but cut their losses short. The reality is quite contrary, because most traders tend to hold on to losing traders due to impractical optimism, but exit winning trades too early to make any real changes to their overall success. 
 
This metric in the 'My Trade Story' attempts to empower traders to take the winning route, so they can maximise their winning days and cut down on the losing days. This feature is also available segment-wise, strategy-wise and market cap-wise. Please refer to Image 4.
 
  • SAMCO Trade Score
​
The SAMCOTrade Score serves as the culmination point, integrating all aspects of a trader's journey. It accounts for the strike rate and the average win/loss size, and quantifies the overall success of a trader into a comparable number using a simple formula:
 
SAMCO Trade Score: (Winning Trade % x Average Gain %) ÷ (Losing Trade % x Average Loss %) 
 
The brokerage firm also provides clear guidelines to traders on how they can interpret their trade score and what they need to do about it. A preview of how the trade score can be explained based on its value, as mentioned in image 5.
 
Multi-Level Insights to Uncover the Andekha Sach in Every Trade

The trading app from SAMCO Securities also comes with the industry-first 'My Trade Story' feature — which functions as a report card that reveals the true picture of trades. Through this feature, traders can access their Trade Spreadsheet, which provides previous unseen trading insights about past trades at the following levels:
 
  • Trade-Level Insights: Breaking down trades into distinct actions like new initiations, strategic additions and careful exits is vital. It enables traders to grasp the subtleties behind each decision and enhances their understanding of market dynamics.
 
  • Performance-Level Insights: This is about evaluating trades to determine if they are outperforming or underperforming benchmark indices. It gauges trade effectiveness and helps traders refine their trading strategies to outperform market benchmarks.
 
  • Benchmark-Level Insights: Comparing trades to benchmark index returns gives traders a clear perspective of their trading performance relative to market movements. This, in turn, is essential for understanding how effective the trades are in monetary terms.
 
  • Market Trend Insights: These insights categorise trades based on whether they align with or go against current market trends. It helps traders determine whether they are more successful when they follow the market or go against it.
 
Periodic review of these hidden truths and blind spots is a holy grail formula that many market legends have long utilised to consistently outperform their benchmarks. This method of in-depth post-trade analysis has enabled market greats to discern the most effective strategies and identify key areas for improvement. 
 
Delving into these hidden insights gives traders a window into their unique strengths and vulnerabilities. By harnessing this knowledge, traders can not only capitalise on their areas of expertise but also refine their skills where needed, paving the way for remarkable improvements in overall trading performance — a proven path followed by many of the greatest minds in the market.
 
Speaking of the often-neglected practice of in-depth post-trade analysis, Nilesh Sharma explained:
 
"Traders typically follow a four-step cycle: pre-trade research, strategy development, execution, and post-trade analysis. While the first three steps often receive meticulous attention, the crucial fourth step — post-trade analysis — is frequently overlooked. Neglecting to evaluate and review performance leaves traders in the dark about their trading errors and the areas that require improvement. 
 
The reasons for neglecting post-trade analysis vary. Some traders don't recognize its importance, others may not have the tools to effectively measure these metrics, and some attempt manual analysis, which can lead to inaccuracies. At SAMCO Securities, we've made it our mission to help traders from all walks of life overcome these challenges. The Andekha Sach feature in our trading app simplifies and enhances post-trade analysis, so traders can easily refine their strategies for better future performance."
 
The unseen trading insights shared on the SAMCO trading app do more than just tackle the challenges outlined above. Traders enjoy diversified benefits from these hidden truths and post-trade analytics. 
 
Benefits for Retail Participants
 
  • Pattern Recognition
Trade Build-Up Analytics in the SAMCO app helps traders identify profitable patterns like the effectiveness of averaging up versus averaging down. This provides insights into actions that could lead to higher profitability.
 
  • Optimal Position Sizing
By examining the outcomes from different trade actions, the app helps traders determine the ideal size for each trade. This, in turn, enhances risk management and maximises the profit potential.
 
  • Precision in Entry and Exit Points
The app's analysis tools enable traders to fine-tune their entry and exit strategies, improving the timing for entering and exiting trades for optimal profit realisation. This minimises the need to time the markets manually. 
 
  • Risk-Reward Evaluation
The Trade Build-Up Analytics feature also allows traders to evaluate the risk-reward ratios of different trades. This makes the decision-making process more efficient and optimises risk management strategies to improve the overall risk-adjusted returns.
 
  • Comprehensive Trade Analysis
Beyond just profit and loss, the SAMCO app's post-trade analytics provide a deeper understanding of how effective each trade is, allowing traders to refine their approach based on quantified data that's easy to interpret.
 
  • Benchmark Comparison
By comparing individual trade performance against benchmark indices, traders gain a clearer understanding of their relative market performance. This helps them remain aligned with or even outperform market trends.
 
  • Enhanced Decision-Making
Comprehensive data analysis reduces the guesswork involved in trading. With customised data and insights available at their fingertips, traders can make more informed decisions and increase the probability of successful outcomes.
 
Improving Trading Success with the Andekha Sach

The journey to becoming a successful trader is complex yet attainable, especially when armed with the right tools and hidden insights. SAMCO Securities' new-gen trading app, with its innovative 'Andekha Sach' features, does precisely this. The comprehensive suite of analytics and insights it provides are crucial for any trader eager to navigate the Indian financial markets effectively.
 
Traders can access these features and leverage the benefits outlined above with the demat account and trading account offered by SAMCO. Account holders gain access to the multi-level insights on the trading app at no extra charge. By offering these tools for free, SAMCO Securities demonstrates its commitment to empowering traders and contributing to their journey of success in the markets. 
Business Wire India

  • In line with Myntra's brand DNA, the event is poised to be a masterclass in trend spotting for all things fashion and beauty to look out for in 2024 with multiple themed fashion shows at play.
  • The event will have in attendance some of the most popular Indian creators and celebrities, such as Dolly Singh, Bhuvan Bam, Aashna Shroff, Sharvari, Orry, Shibani Bedi, Sushant Divgikr, Naina Bhan, Malini Agarwal, Niharika NM, and Tanya Ghavri, among others.
  • The Glammys have been co-created by Myntra and Grazia, one of India's leading fashion magazines.
  • The event will also mark the inception of the Myntra Glammys powered by Grazia, the highly-anticipated awards in celebration of the hard work and dedication of creators with an innate appreciation for fashion and glam across industries and genres.
  • The first edition of the Creator Fest held in Dec '22 witnessed more than 250 creators in attendance with a whopping 3X growth in impressions against Business as Usual (BAU).​
​
Myntra, one of India's leading destinations to access all things in-trend, announces the second edition of the Creator Fest, set to take place on 7th December, ahead of the platform's marquee End of Reason Sale (EORS-19). The event will also witness the debut of the Myntra Glammys powered by Grazia, a much-anticipated awards ceremony high on glam, spunk and style quotient where sought-after creators from across the creator ecosystem will be recognized for their compelling and unmatched content contributions. With an emphasis on unique expression of self through fashion, the nominations consist of the country's most popular creators across the realms of fashion, beauty and lifestyle. The Creator Fest will also feature other exciting activities, such as multiple themed fashion shows setting the tone for what's in-trend for 2024, with some of the biggest names in the business, electrifying musical performance by Monica Dogra, and a meet and greet session with some of the country's much-loved creators and celebrities. Attendees can also look forward to experiential brand zones from some of the most sought-after fashion and beauty brands as well as Snapchat's AR mirror that shall elevate their experience with its incredible fashion and beauty filters.

Where trends meet trendsetters: Through the years, Myntra has established itself as one of the industry leaders in branded fashion with the intent of making global trends more accessible to fashion-forward consumers in the country. The Creator Fest enables Myntra's goal to laud the trendsetters of the digital age by celebrating their remarkable contributions in showcasing consumer-led fashion in interesting ways, especially to young India. With three uber-fun fashion shows high on style, diversity and glam, the attendees will get a sneak peek into 2024's upcoming trends that are not just aspirational but wearable across Gen Z fashion, premium fusion and western wear, with some of the biggest names in Indian fashion landscape walking the ramp including Kirandeep Chahal, Ninkala, Prabh Uppal and Nisha Yadav, among others. The event will feature some of the country's most fashionable creators and celebrities such as Dolly Singh, Bhuvan Bam, Aashna Shroff, Sharvari, Orry, Shibani Bedi, Sushant Divgikr, Naina Bhan, Malini Agarwal, Niharika NM and Tanya Ghavri, among others.
 
Honouring the who's who of the Creator Ecosystem: On the back of Myntra's unwavering collaboration with creators through the years, the Myntra Glammys powered by Grazia will validate and honor the creators' invaluable contributions through a bevy of diverse award categories that reflect the genres which have shaped the contours of the content-creation ecosystem in the realm of fashion and beauty. The extensive judging process comprises an array of detailed discussions with the jury, including some of India's most credible fashion and creator voices, Mehernaaz Dhondy (Editor in Chief, Grazia), Niharika NM (Digital Creator), Orry (Socialite and Creator), Masaba Gupta (Designer, Entrepreneur, and Actor), Renil Abraham (Internet Personality), and Tanya Ghavri (Stylist and Creative Consultant). The primary judging criteria will entail a representation of fashion, the consistent creation of relevant and high-quality content and active audience engagement. Some of the winners will also get a chance to be featured on Grazia's digital cover. With 15 creator-first awards, The Glammys will feature categories that have been carefully curated to encompass genres and areas Myntra has keen expertise in. Some of the key awards include Fashion Icon of the Year, Beauty Breakthrough Creator of the Year, Gen Z Fashion Creator of the Year and Entertainer of the Year, among others.

The pivotal role of Creators in Myntra's Marketing Strategy: With over 85,000 pieces of compelling, uber-trendy content created by creators the previous year, Myntra will continue to build its army of 1500+ social media stars from strength to strength. At present, apart from associating with leading creators in the space of fashion and beauty, Myntra's engagement strategy also revolves around collaborating with the most extensive network of Gen Z nano and micro creators, as well as campus ambassadors, spanning across India. Myntra has cultivated a dominant share of voice in younger and non-metro cohorts and notably also has the largest share of voice in Gen Z social media conversations. This has enabled content curation in local languages, boosting engagement by an impressive 2X as compared to other target demographics.

Expressing his excitement on the second edition of the Creator Fest and the introduction of the Myntra Glammys, Sunder Balasubramanian, Chief Marketing Officer, Myntra, said, "As an organization that is consistently building for the future of fashion and beauty, we certainly believe that creators enable us to understand our thriving base of trend-first customers better. They are the voice of consumer-led fashion and beauty in the country and the gatekeepers of trends. We are thrilled to announce the second edition of the Myntra Creator Fest and introduce the Myntra Glammys, both of which solidify our position as the forerunner of fashion and beauty trends in the country, with a pulse on what young India wants. This year, we have definitely taken it up many notches with unparalleled collaborations with brand partners, trend setters and fashion authorities alike. Right in time for EORS-19, this edition of the Creator Fest is poised to serve as a cynosure of inspiration for consumers to up their style quotient while making the most of what brands have to offer. Going by the success of last year's event, where we saw 250+ creators in attendance and a 3X uptick in social impressions (against BAU), we are very confident that this year will be even bigger and better." 
Business Wire India


Story highlights:
  • Launched in 2022 in partnership with Common Services Centres Scheme, the program has reached 2 million beneficiaries, empowering underrepresented communities in areas with poor-socio economic indicators.
  • In 2023-24, the program aims to impact an additional 1.2 million people, including 200 retired defence personnel and their wards with digital inclusion opportunities.
     
Full Story - Dell Technologies announced that it has met its target of positively impacting 2 million beneficiaries through the Mobile Solar Community Hubs launched last year in India. These mobile hubs are technology-enabled and equipped with requisite devices, including laptops, television screens for broadcasting messages, solar panels to power devices, 4G internet hotspot facility and self-paced learning content, to help the community access online services. The goal of these mobile hubs is to travel from town to town providing internet and computer technology to local community members. Dell has a global goal of impacting one billion lives by 2030 and is committed to achieving it in a combination of going deep in communities of need, scaling through partnerships, and providing digital inclusion resources and programs.
 
In partnership with the Common Service Centres Scheme (CSC)[i], Dell and Learning Links Foundation have successfully deployed solar-powered hubs in six aspirational districts as identified by the government. Key beneficiaries include students, youth, and women who are supported with trainings in digital and financial literacy, technical skills, entrepreneurship and career guidance & revenue-generating services guidance towards future job creation and achieving financial sustainability.   
 
Dell is now extending the reach of the Mobile Solar Community Hubs to five additional districts;
  • Pauri Garhwal (Uttarakhand)
  • Ramgarh (Jharkhand)
  • Jhansi (Uttar Pradesh)
  • Pathankot (Punjab)
  • Gurugram (Haryana)
 
Additionally, the program aims to upskill and digitally empower 200 ex-servicemen/retiring junior-ranked personnel (Jawans) of the Indian Armed Forces. Support is extended to address any lack of opportunities for skill acquisition and learning during their military tenure that may have resulted in a gap in their post-retirement prospects. The hubs will also assist wards of military personnel or 4000 students at defence schools, by introducing them to digital skills such as coding and block-programming.

"The digital challenges could be the result of lacking one or more fundamental elements needed for digital inclusion; access to technology, skill building opportunities to learn and grow, and the support they need to get started. Partnering with the government over the years in various activities has helped drive transformational change and address the digital divide," said Alok Ohrie, president and managing director, Dell Technologies India.

Archana Sahay, regional giving manager, Asia Pacific & Japan at Dell Technologies, said, "Our collaboration is driven by the goal to support underrepresented communities to achieve digital equity, where they find themselves equipped with technology capacity needed for full participation in the society and economy. From students to women and now ex-servicemen, the opportunity to help them gain the skills to participate in India's evolving digital society is a rewarding contribution."
 
Nuriya Ansari of Learning Links Foundation said, "The expansion plan will be critical in transforming the lives of rural underrepresented communities, and ex-servicemen and retiring junior-ranked personnel from the Indian Armed Forces. These dedicated individuals face difficulties transitioning to civilian life due to a lack of opportunities for skill acquisition and learning during their military service. We value their dedication and discipline gained through military service and aim to provide them with a diverse range of career opportunities and choices."
 
Learning Links Foundation will continue to provide on-the-ground support for the vans, which will equip the beneficiaries with digital and financial literacy, impart knowledge about cyber safety, and harness technological skills.
 
[i] [i] Common Service Centers Scheme (CSC) is a Digital India program under Ministry of Electronics and Information Technology (MeitY)
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