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TRUECALLER ANNOUNCES PROFITABILITY – CROSSES 200 MILLION MONTHLY ACTIVE USERS GLOBALLY

Posted on February 5, 2020February 5, 2020 by City Today News (City today.media)

Bangalore, 4 February 2020: Truecaller announced today that the company has achieved profitability over the last 4 months and also crossed the major milestone of 200 million monthly active users (MAUs) around the world.
Truecaller is one of the largest consumer platforms in India and with such a rapid expansion, the country is clearly the home market for the brand. The aggressive growth in Advertising Sales and Premium Subscriptions in India have been a driving force in its revenue generation. Premium subscriptions have grown immensely since it was launched a year back. It has already crossed the 1mn mark and projected to grow by another 50% in coming months.
This is a significant achievement for Truecaller, which is emerging as a one-stop communication platform with a wide array of services including Instant Messaging, VoIP, and FINTECH Products including UPI money transfers, Bharat Bill Payment System and digital money lending, which is expected to launch within the first quarter of this year.

Sharing his thoughts on the occasion, Sandeep Patil, Managing Director, Truecaller, said, “We are thrilled and humbled that we have been profitable for the last several months while simultaneously growing revenues at over 70% annually. This achievement is a testament to the trust that our users place in us and the effectiveness of our revenue businesses. We will continue to grow revenues through investments in advertisement, subscriptions, credit and financial services. We will make in India for India by recruiting talent across technology, product management, data sciences and finance and by developing partnerships across the ecosystem. This is a concrete milestone on our path to build a financially-sustainable independent company that will be ready for IPO in three years.”
Truecaller is also expanding its business portfolio with services like Truecaller for Business. This streamlines the process for small businesses to be discovered by nearby users through Truecaller. Another feature being revamped is Truecaller Priority, which identifies relevant calls from businesses, thereby differentiating them from spam calls.

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IDFC Mutual Fund Launches Open-ended Equity Fund – IDFC Emerging Businesses Fund

Posted on February 5, 2020 by City Today News (City today.media)

February 05, 2020: IDFC Asset Management Company (AMC) announced the launch of an open-ended equity fund, predominantly investing in small cap stocks, – IDFC Emerging Businesses Fund. The new fund seeks to look at Growth opportunities in the Small Cap space alongside applying quality filters. Further, the fund is mandated to invest at least 65% in Small Cap segment. IDFC Emerging Businesses Fund will contain buy and hold strategies as well as opportunistic picks in the cyclical space. The fund will also look to participate in new businesses via IPOs. The fund will be managed by Mr. Anoop Bhaskar, Head – Equity, IDFC AMC.
Highlighting why now is the right time to invest in a Small Cap Fund, Anoop Bhaskar, Head – Equity, IDFC AMC, said that, “While not all the companies in the Small Cap space would move up the market cap curve, we believe it is important that we are cognizant of the market phase (pricing/valuation) when we enter into this space. The three main reasons to consider investing in Small Caps now are based on these factors – Price, Valuation and Volumes. Small Caps have witnessed significant price correction since the beginning of January 2018, the underperformance is a whopping 46% vs, Large Cap, as on December 2019. Small Caps are trading well below its average discount with the Small Cap Positive PE at 14.8 versus 5-year average 17.4. Additionally, Small Cap PE is now trading at a discount of 34% to its Large Cap counterpart versus average discount of 15%. Finally, when we compare the volumes in the Small Cap segment, a bear market typically witnesses a 65-70% fall in volume from its peak, post which the turnaround begins. The current cycle has already seen volumes fall by 66% from its early 2018 peak.”
The New Fund Offer will open from Monday, February 03, 2020 to Monday, February 17, 2020, during which, Units will be offered at Rs. 10 each and continuous offer for Units at NAV based price. The Scheme will re-open for ongoing subscription and redemption within five business days from the date of allotment of units at NAV based prices.
Small Cap investing is typically meant for a seasoned investor or those investors with high-risk appetite. While Small Caps do provide opportunities to generate reasonable outperformance, one needs to be aware of large drawdowns, liquidity issues and governance issues. To counter these risks, the fund will have a diversified portfolio approach with a 65-100% exposure in Small Caps and remaining in other equities. The fund will seek to steer clear from a concentrated portfolio – with higher number of shares (>30-35) and lower allocation towards top 10 stocks (<45%), gradually scaling up positions in Small Caps. A truly diversified portfolio, one that is not concentrated, will also help reduce impact of incidents that may occur due to possible governance issues that are likely in the Small Cap space.
Product Video: https://idfcmf.com/youtube-detail/1188

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Amrapali hosted a Musical Evening with Vasu Dixit at the Jayanagar Store, Bengaluru

Posted on February 5, 2020 by City Today News (City today.media)

Bengaluru, Februaray 2020: Amrapali Jewels organized a special soirée with musical maestro Vasu Dixit for an evening to remember with music that touched the soul. Translating the grandeur of Amrapali’s breathtaking new collection through melody that was enjoyed by one and all, the 31st of January was a celebration with notes of perfection.

An opportunity to bring Amrapali’s clientele together over an invigorating but also comforting session, the event aimed to applaud their second successful store in the city and thank the patrons for their love and support and was well received.

Tarang Arora, CEO and Creative Director of Amrapali Jaipur said “music has always been a beautiful way to connect to the heart and through this event we tried to capture the true essence of art by bringing its two forms – jewellery and music together. Vasu Dixit is definitely a catalyst in his right and it was an absolute pleasure to welcome him into our second store in Bangalore and watch as he mesmerized our audiences with his passion”

Music comes to Vasu as easily as jewellery designing comes to Tarang and the event was curated keeping in mind the union of both talents. Finding his soul in music, Vasu Dixit said “ Amrapali is a brand that defines the magnificence through which our rich Indian heritage comes alive through jewellery. Super excited to be a part of this musical evening, I was elated to see the guests enjoy the language of music in a beautiful setting”

Tucked in the heart of Bangalore, Amrapali’s second store in Bangalore is a striking 800 sq. ft. store which was designed in sync with the aesthetics of the brand. The store with its authentic mirror work and modern surface finishes, aimed to highlight the traditional charm in exactitude. Inspired from Jaipur’s iconic Hawa Mahal, the visual styling of the store narrated a story to every consumer and enhanced their shopping experience at Amrapali while the centre of the store turned into a stage for Vasu and his team. Singing folk songs like Pyaasi(Swarathma),RagiTandira,Tarakka and Bindige, guests like Author Sowmya Reddy Somanna,Vidya were seen appreciating and enjoying the show that Vasu and his team proudly put on.

With its iconic pink and orange hues bedecked with white mirrors, the store transported the guests to the Pink Capital lending to the melodious aura of the event.

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Menaka Foods Family Restaurant to begin in Jayanagar

Posted on February 5, 2020 by City Today News (City today.media)

Bengaluru: Sri Venkateshwara group company has now ventured into hotel industry. Through Menaka Foods Family Restaurant, the company plans to start Hotel business in Karnataka, all India, and overseas. Now Menaka Foods Family Restaurant, will begin to function from 5th February, from 3rd block, Jayanagar to cater healthy and hygienic food for the customers. There will be special introductory offers on this occasion. This restaurant will feed Bengaluru’s foodies with Andhra style Biriyani and Hyderabadi Biriyani.

Menaka foods family restaurant will have special rebates and gifts and takes care of customers. Apart from eating Andhra style Biriyani and Hyderabadi Biriyani, the customers will win exciting bumper prizes. A customer billing Rs. 250/ is eligible to win a Maruti Alto Car. This offer is valid up to March 20, 2020. Similarly, as a token of auspicious beginning, a special rebate of Rs 100/ per dish will be given, which is valid up to 9th February.

In coming days, Menaka foods will serve the taste buds of its customers of Chennai, Pune, Mumbai, Delhi, Singapore, Dubai, Kua Lalampur, Bangkok, and Hongkong, with the flavour and taste of Andhra and Hyderabadi Biriyanis, through its Menaka Foods family Restaurants. Menaka Foods family Restaurants was inaugurated by noted cine star- producer Raghavendra Rajkumar and graced the occasion.

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Paytm launches All-in-One Android POS for small businesses and merchant partners

Posted on February 4, 2020February 4, 2020 by City Today News (City today.media)

Paytm All-in-One Android POS accepts payment through all methods – Cards, Paytm Wallet, All UPI apps, and even cash
It has All-in-One QR code that supports all contact and contactless payments
The device comes with integrated billing software and customized solutions for different industry sectors ranging from ticketing, catering to parking among others
The handheld compact device features an in-built printer, a scanner and generates bills

February 4, 2020. Bengaluru: India’s largest payments platform Paytm (owned by One97 Communications Limited) today announced the launch of All-in-One Android POS device for merchant partners across the country. This device helps merchants to accept payments through Paytm Wallet, all UPI based apps, Debit & Credit Cards and most importantly – Cash. Besides accepting payments, merchants will also be able to generate GST compliant bills and manage all transactions and settlements through their ‘Paytm for Business’ app at one go.

Paytm All-in-One Android POS is a fully-loaded payment acceptance device with many industry-first features & services. The android based device comes with a full-size display and is pre-bundled with cloud-based software for billing, payments, and customer management. The device can be used to accept payments, print bills and scan items for faster checkout at the counter. The device works on Wi-Fi and also comes with a pre-installed sim card ensuring round the clock connectivity with all of Paytm’s bouquet of services.

Vijay Shekhar Sharma, Founder & CEO of Paytm said, “Over the past 18 months, we have invested a lot of time in understanding the needs of small businesses around digital payments. Today, we are launching this incredible Paytm All-in-One POS device with a super sleek android form factor with cloud services. This device offers a comprehensive business tool right on the desk of millions of small businesses. We strongly believe that offerings like these will help expand the market and drive further acceptance of digital payments, and at the same time enable our merchant partners to operate their business more efficiently.”

Nandan Nilekani, Co-founder and Chairman, Infosys and founding Chairman UIDAI said, “It is important for the small merchants in India to accept digital payments and be at the forefront as only they are the ones who can fuel and digitise the whole ecosystem. I am glad that Paytm understands this need and has launched the right set of solutions for businesses.”

Paytm All-in-One Android POS also supports many industry-specific solutions that will help SMEs to automate their business processes and be more efficient. E.g. Its ‘Restaurant Management’ can accept orders of individual tables and directly relay them to the kitchen. The machine is equipped to generate and maintain separate bills for every table in the outlet. Similarly, it is bundled with TicketNew and Insider.in, two of the biggest ticketing and events platforms in the country. Event organizers, as well as movie halls, can directly issue tickets with the All-in-POS android machine and accept payments. Event organizers can even let go of the hassle of creating box-offices during open-air concerts and can sell tickets using this handheld device. The company aims to include support for many more industries going forward, all of which could be updated and made available automatically in the future without change of device.

Paytm has done a series of successful pilots in different spaces including bus ticketing service, parking management, BFSI, logistics, and home delivery. One of Paytm’s most valuable partner – IRCTC is using the Paytm All-in-One Android POS machines to bill food items sold inside trains. It helps in keeping track of sales and is turning out to be a strong tool for inventory management.

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