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M3M Foundation focuses on worker upliftment

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Dr. Payal Kanodia is a Trustee in M3M Foundation, a philanthropic arm of M3M India — one of the leading real-estate companies in India.

The prime focus of the M3M Foundation has been on health, education, disaster management and socio-economic development to transform rural lifestyle. As one of the promoters in M3M India, Payal also supports business.

A doctor by qualification, Payal has been conferred the Grand Doctor of Philosophy in International Relations & Diplomacy from International University of Fundamental Studies, St. Petersburg Russia and is a Diplomatic member of CDI. She has pursued her entrepreneurship from HBS, Boston.

Speaking to IANS, Payal said, “At M3M Foundation, we believe in sustainable change and making the beneficiaries responsible. There is so much to be done in India and I believe that while we retain our focus on what we would like to emphasize through our Foundation, we should also be supporting State and Central Government in their mission to make a better India.”

Payal has been a keen observer throughout. While visiting construction sites of M3M India, she observed that many workers and labourers have left their small children at home — most of them unattended, and these children certainly needed proper attention and care.

Payal says, “I observed that the children of workers & labourers were generally left at home and when I interacted with our workforce, I realised that they were quite worried about the well-being of their children, their education and future. As a responsible Company, we had to do something for their children. And with this thought, M3M Foundation launched project — iMpower, an Initiative for Maximising Potential of Workforce through Ensuring Resources. Through our collaboration with national and international organisations and foundations, we are now able to provide education & good health to these children, and also ensuring skill enhancement for the women workforce. Very soon we shall be setting-up skill development centres for these women. The whole effort is to build a life of dignity for them.”

Recently, M3M Foundation’s project “iMpower” has been recognized as the “Most Innovative Community Engagement Project 2021” during the India CSR Leadership Awards held in Bengaluru.

Payal also passionately described the contribution of M3M Foundation during the pandemic times. “I always believe that most of the companies do have a strong focus on philanthropy and they execute programs through their Foundations. I also understand that since we all work for the betterment of the society and the nation, such Foundations should also be seen as an extension of philanthropic arm of the Government. We are too partners in prosperity. With this focus, during the Covid pandemic lockdown, we aligned with the Government of Haryana and brought together corporate entities, real estate groups, business entities, NGOs, religious bodies and individuals, and were able to support more than 2 lakh needy people for food, health and hygiene. We named this initiative as — ‘Kartavaya’, and indeed it was an immense responsibility shared by all of us,” she said.

In order to promote employability-based training and to fight unemployment, M3M Foundation has signed an MoU with Government of Haryana to help about 50,000 meritorious students and align them towards online preparations for Government jobs. The Foundation has named this initiative as “SAKSHAM UDAAN”.

Payal gives most of her time to the Foundation’s activities. Her passion and involvement has certainly strengthened the vision of M3M Foundation.

Business

‘Innocent Unless And Until Proven Guilty’: Adani Group Issues Statement In The US Bribery Indictment; Denies Charges, Calls Them Baseless

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The Adani Group, which has been at the eye of the storm since the beginning of the new day, has issued a statement in the US Indictment matter.

Adani Denies Charges

The company, in a statement procured by the conglomerate-owned IANS, said, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied.”

Furthermore, the statement asserted its stance and added, “As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.” All possible legal recourse will be sought.”

Committed to Highest Standards

The Adani Group further added that it has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations.

US Court Indicts Adani and Co.

The company, in an attempt to assuage stakeholders, partners and employees, said that the company is a law-abiding organisation, fully compliant with all laws.

The storm was kicked off by a post from short-seller group Hindenburg, which shared the news of the US Federal Court’s indictment of Gautam Adani and seven others associated with the company.

Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts.

The press release from the US court elaborated on the allegations and claimed that the company and its leadership had indulged in mass bribery activity, in which the company bribed Indian officials to bag a contract for its Adani Green Energy company.

This in turn led to misleading American investors and global financial investors.

The court reportedly also issued an arrest warrant against Gautam Adani and seven others.

Adani Shares Tank

In the aftermath of the report, Adani Group company shares tanked at Dalal Street. With Adani Enterprises shares hitting the lower circuit, losing 20 per cent of their value. The situation was the same with the other Adani stocks, including Adani Green Energy, which is in the middle of the new storm.

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Business

Bharat NCAP Awards 5-Star Crash Test Rating to Mahindra Thar Roxx

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The Mahindra Thar Roxx has earned a prestigious 5-star rating in Bharat NCAP’s latest crash tests, reflecting its commitment to safety. Recently evaluated under stringent testing, the SUV excelled with a 31.09 out of 32 score for adult occupant protection and 45 out of 49 for child safety.

Tested in its AX5L and MX3 variants, the Mahindra Thar Roxx delivered notable results, scoring 15.09 out of 16 in the Frontal Offset test and a perfect 16 out of 16 in the Side Impact test. The assessment revealed strong protection for most areas, with adequate ratings for the driver’s chest and lower legs.

The Mahindra Thar Roxx has received high marks for child occupant safety, scoring 24 points in Bharat NCAP tests, along with 12 points for CRS (Child Restraint System) installation and a Vehicle Assessment Score of 9. This top-tier safety rating applies to all Thar Roxx units produced from November 2024 onward, underscoring Mahindra’s dedication to enhancing safety features across its SUV range. Additionally, Mahindra’s XUV400 and 3XO models have also achieved 5-star safety ratings, further emphasizing the automaker’s commitment to robust safety standards.

The Mahindra Thar Roxx offers two interior themes – Classic Ivory and a new Dark Mocha Brown. Comfort and convenience are prioritizing with ventilated seats, leatherette upholstery, a digital driver display, a larger 10.25-inch touchscreen, a high-quality Harmon Kardon sound system, a panoramic sunroof, rear AC vents, wireless connectivity for Apple CarPlay and Android Auto, and a six-way adjustable driver’s seat, combining practicality with luxury.

Mahindra Thar 5-door comes packed with safety and interior upgrades to enhance its appeal. On the safety side, it includes essentials like six airbags, three-point seatbelts for all occupants, hill control features, electronic stability control, and a seatbelt reminder. Advanced driver-assist features, such as autonomous emergency braking, adaptive cruise control, lane-keeping support, lane departure alerts, and a 360-degree camera system with blind spot monitoring, add an extra layer of protection.

Mahindra Thar Roxx offers two engine choices: a 2.0-litre turbo-petrol and a 2.2-litre diesel. The petrol engine comes in two setups—150 bhp and 330 Nm of torque for the manual, and 174 bhp with 380 Nm for the automatic. The diesel option is available only with four-wheel drive.

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Business

Why The Indian Stock Market Struggled: Inflation, FPI Outflows, And Currency Pressure; Everything You Need To Know

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The Indian stock market on Wednesday (November 13) wrapped the another challenging day, marking the fifth consecutive session of losses.

The Sensex and Nifty, the two benchmark indices, both ended lower amid concerns over inflation and a broad selloff in metal stocks.

Market Snapshot

By the close of the trading session, Sensex was down by 984.23 points, or 1.25 per cent, ending at 77,690.95. Nifty 50 followed suit, shedding 324.40 points, or 1.36 per cent, to settle at 23,559.05.

The day saw a sea of red on both the Sensex and Nifty, with the majority of stocks ending lower. Among the few gainers were NTPC, Tata Motors, and Infosys, which saw minor upticks on BSE.

However, the broader market was dominated by heavy losses, especially in stocks such as JSW Steel, State Bank of India (SBI), Adani Ports, Mahindra & Mahindra (M&M), and Tata Steel, all of which posted declines.

Reasons behind the sharp decline

One of the major factor contributing to the market’s downward trajectory is the growing concern related to inflation.

As per the data which released by the Ministry of statistics and Programme Implementation regarding the India’ retail inflation, it showed that for the month of October, it surged to 6.21 per cent, breaching the Reserve Bank of India’s (RBI) upper tolerance limit of 6 per cent for the first time in over a year. The primary factors that contributed to surge include rise food prices, driven by the extended monsoon season and crop damage.

Adding to the pressure is the continued outflow of foreign portfolio investments (FPIs). On November 12, FPIs sold shares worth Rs 364.35 crore, bringing the total outflows for November to Rs 23,911 crore

The Indian rupee also struggled on November 13, weakening by 1 paisa to close at 84.38 against the US dollar.

The rise of the US dollar, which surged 1.8 per cent in November, has been exacerbated by the US presidential election result and higher bond yields. The US 10-year bond yield spiked to 4.42 per cent, further diverting capital away from emerging markets like India.

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