Rajeev Jhawar Usha Martin Establishes Globally Recognised Multi-Product Organisation Through Consistent Delivery of Superior Quality Products

Usha Martin Rajeev Jhawar Limited is one of the world’s leading manufacturers of wire rope. Rajeev Jhawar, the son of Brij Kishore Jhawar, is the managing director of Usha Martin Limited. He has been at the helm of the Usha Martin Group for three decades. He is also the Director of Neutral Publishing House Ltd.

Rajeev Jhawar Usha Martin

Usha Martin is one of the leading wire rope manufacturers in the country. The company underwent the incorporation process in the year 1986 under the name Usha Beltron Ltd. Since its inception, the company had been seeing immense growth and was elegantly walking up the ladder for the past 50 years. Some of its manufacturing units are set up in Ranchi, Hoshiarpur, Dubai, Bangkok and UK.

With over six decades of experience, Usha Martin have established themselves as a globally recognised multi-unit and multi-product organisation through consistent delivery of superior quality products and services. Despite hard work, it was also the joint effort of the family that brought the company to the top. Basant Kumar Jhawar, his brother Brij Kishore Jhawar and his son Prasant Jhawar along with the company’s MD and his Nephew Rajeev Jhawar, took the company to great heights. While the family jointly held 51% of the stake, the rest of the retailers held only 49% of the stake.

Usha Martin had a huge load of debt on its balance sheets. As of 2018, the company’s debt stood at 4650 crores. The company’s MD Rajeev Jhawar, along with other board members, worked towards bringing down the debt of the company. The company was planning to sell its steel business in a bid to pay off its debts. What seemed to be a notable step in the history of the company, came to an end when the Tatas were given the deal under a 5-year contract. Tata Steel through Tata Sponge, which is a subsidiary unit, was to take over the unit presiding in Jamshedpur for a cost of 4600 crores.

As per the MD of Usha Martin, Rajeev Jhawar, following the sale Usha Martin will divert its major focus towards strengthening its business. The company will be working towards strengthening its rope business, as a result of which the company is hoping to secure a place among the top three wire rope players. The slowdown followed by the COVID-19 pandemic has surely affected the top line of Usha Martin. However, currently the company is preparing to ramp up its capacities and Rajeev Jhawar seems to be confident and optimistic about the days to come. Usha Martin is also preparing to invest in the domestic market at large. It is also expecting a decent profitability growth in the following three years.

SpaceX launches 3 rockets in 36 hours

 

SpaceX has launched and landed three rockets in a span of 36 hours, media reports said.

A two-stage Falcon 9 rocket was launched from Florida's Cape Canaveral Space Force Station on Sunday (June 19) at 12:27 a.m. EDT, carrying a communications satellite for the Louisiana-based company Globalstar to orbit, Space.com reported.

"Congrats to SpaceX Falcon team for executing 3 flawless launches in 2 days!" CEO and Founder Elon Musk shared in a tweet.

The satellite wasdeployed into orbit about 1 hour and 50 minutes after launch.

"Deployment of Globalstar FM15 confirmed," SpaceX said in a tweet.

On June 17, the company launched 53 of its Starlink internet satellites from NASA's Kennedy Space Center in Florida and lofted a radar satellite for the German military from Vandenberg Space Force Base in California on June 18.

The Friday mission set a new rocket-reuse record for SpaceX; the Falcon 9 that flew it featured a first stage that already had 12 launches under its belt. The launch on Sunday was the ninth for this particular Falcon 9 first stage, according to a SpaceX mission description.

The triple-launch is the second this year, after the company flew three missions between January 31 and February 3.

Gunshots, Panic On Washington DC Street, People Run For Cover

 

Washington, DC:

Fear and chaos at the Washington, DC street where a shooting reportedly left one teenager dead and several others, including a police officer, injured, has been captured in a video.

The clip has been posted on Twitter by National Fraternal Order of Police, a police union in the US. It starts on a crowded street where several police vehicles and men in the uniform are seen.

Then four shots are heard and people are seen running for cover in panic.

The video then shows a corner where police officers appear to be monitoring

"Three civilians - two adults and one juvenile - were shot. One police officer was also shot at. The police officer and two victims are recovering at a hospital. One victim, the juvenile, it appears is deceased at this point," Metropolitan Police Department chief Robert J Contee said in a briefing.

The shooting took place during Moechella, described as an "Advocacy Festival Amplifying the Culture of Washington DC", Fox News reported.

In the wake of recurrent incidents of gun violence in the US, President Joe Biden has said that the country needs to have tougher regulations for owning weapons for the sake of protecting children and families.

Nayanthara-Vignesh Shivan's secret honeymoon location revealed with photos

 

Actress Nayanthara married filmmaker Vignesh Shivan on June 9th in Chennai after eight years of dating. The couple first went to Tirupati and got blessings from Lord Balaji and then flew to Cochin in Kerala to meet Nayan's parents Omana and Kurien Kodayathu.

To know more : https://www.indiaglitz.com/actress-nayanthara-vignesh-shivan-honeymoon-location-photos-tamil-news-318449

Agnipath protests: Anand Mahindra says his company will recruit Agniveers

 

Mahindra Group chairman Anand Mahindra said he will recruit Agniveers, the defence troops who will be hired in the Armed Forces for four years, in his tractor-to-financial-services conglomerate, the first such announcement by a major corporate house.

"Saddened by the violence around the #Agneepath program. When the scheme was mooted last year I stated-& I repeat-the discipline & skills Agniveers gain will make them eminently employable. The Mahindra Group welcomes the opportunity to recruit such trained, capable young people", he tweeted on June 20.

To know more: https://www.moneycontrol.com/news/trends/current-affairs-trends/eminently-employable-anand-mahindra-assures-jobs-for-agniveers-in-his-company-8708531.html

In CUET Mock Test 2022, All Question Sets are Prepared and Curated by Teachers

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The candidates attending CUET are increasing every year. Therefore, students need to strategize in the most efficient manner possible. This is where the CUET mock test 2022 by CUETMock can be very helpful in making you pass through with the skills to attempt the exam with accuracy. In CUET mock test 2022, all question sets are prepared and curated by teachers and further hand-picked by domain subject experts to match the level of real exam. This helps the students to get a fair idea about the exam trend that will be followed.

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New FIR lodged against arms dealer Sanjay Bhandari

 

NEW DELHI: In a fresh bout of trouble for absconding arms dealer Sanjay Bhandari, the Central Bureau of Investigation (CBI) has booked Bhandari, M/s Samsung Engineering, a South Korean company and “unknown” officials of ONGC/ONGO petro addition (OPAL) on charges of corruption and criminal conspiracy. It is alleged that acting as middleman Bhandari “induced” unknown public servants to show “undue favour” to the consortium of M/s Samsung Engineering Corporation Ltd. South Korea in the awa ..

Read more at: https://economictimes.indiatimes.com/news/politics-and-nation/new-fir-lodged-against-arms-dealer-sanjay-bhandari/articleshow/76727299.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Worst-dressed celebs weekly list: Janhvi Kapoor, Uorfi Javed, and more fail to impress with their sartorial choices

 

Fashion is an instant language that helps the celebs to make a memorable inspiration on their fans and followers. Our celebs' fashion choices have changed drastically over the years. Now, they do not shy away from experimenting and putting their foot forward in making us all go WOW!

But it is not always the case, being in the public eye come with a lot of pressure to look perfect, leading to major fashion blunders. Yes, you read that right. This week was no different, many celebs failed to make a mark with their sartorial choice that made the fashion police cringe.

To know more: https://www.timesnownews.com/entertainment-news/worst-dressed-celebs-weekly-list-janhvi-kapoor-uorfi-javed-and-more-fail-to-impress-with-their-sartorial-choices-bollywood-news-entertainment-news-article-92291961

Vedanta puts up Tuticorin copper plant for sale

 

Vedanta has invited Expression of Interest (EoI) for its Tuticorin-based smelter, which has been shut since mid-2018, following a Tamil Nadu government order. The last day to submit EoI is July 4th, and the bids have been invited in conjunction with Axis Capital.Plant units, including oxygen generation facility as well as residential homes, are also part of the sale offer. The plant has faced closures over alleged violation of environmental norms.

The metals and mining conglomerate has posted an advertisement inviting EoIs by July 4 for the plant, which it said accounted for 40% of India’s copper output and employed thousands. At the time of closure, it employed 5,000 people directly, and another 25,000 indirectly.

American President Joe Biden Falls off Bike, Netizens Blame Toe Straps

 

The video of American president Joe Biden falling off a bike is going viral. The incident happened at a beach in Delaware. He can be seen stopping the bicycle at a junction amid much cheering and then falling down while the bike is stationary. It appears that his shoes got entangled in the spokes of the cycle and he lost his balance.

To know more: https://www.news18.com/news/buzz/american-president-joe-biden-falls-off-bike-netizens-blame-toe-straps-5400793.html

French election: Macron loses absolute majority in parliament in 'democratic shock'

 

French President Emmanuel Macron lost control of the National Assembly in legislative elections on Sunday, a major setback that could throw the country into political paralysis unless he is able to negotiate alliances with other parties.

To know more: https://www.indiatoday.in/world/story/french-election-macron-loses-absolute-majority-parliament-democratic-shock-1964384-2022-06-20

Rajeev Jhawar MD, On TATA Steel-Usha Martin Deal

 According to Rajeev Jhawar, the total debt is around 4500 to 4600 crores including the long term as well as all the working capital. With the transaction with TATA steel, the company is expected to repay almost all its debt. The wire rope will have a very strong residual company with a very strong balance sheet with an annual profit between 250 to 300 crores on a consolidated basis. Rajeev feels that this is a business that can grow Usha Martin has been a global leader. In wire group business, Usha Martin has the leadership position in the country and they are among the top 4 players in the world. In the past 3 or 4 years, the company could not invest in this business because of its over-leveraged position. By selling the steel plant, Rajeev Jhawar expects that they will be able to expand their wire rope and wire business as there would be very good cash flows generated. Rajeev, jhawar feels that going to be a debt-free company, with the global leader in the wire rope business they have the opportunity to have good growth over the next 3,4 years. They also expect good growth both in terms of a top line and bottom line.

Rajeev Jhawar Usha Martin Enjoys Strong Brand Recall in the Segment

Rajeev Jhawar, and Indian Industrialist and son of Brij Kishore Jhawar is the Managing Director of Usha Martin Limited. He started his journey as the vice president (commercial) and became the Managing Director of the company in 1998. Established in the year 1960, Usha Martin Limited is a multi-unit and multi-product organization in the wire rope business. They are one of the world’s leading manufacturers of wire rope. Their wire rope manufacturing facilities are located in Ranchi, Hoshiarpur, Dubai, Bangkok and UK.

Rajeev Jhawar Usha Martin

Usha Martin is one of the largest manufacturers of wire ropes in the world and has the capacity to produce 300,050 tonnes of it per annum. The company has a global base of wire rope manufacturing, with facilities located in India, the UK, Dubai and Bangkok. For specific products, the company has collaborated with globally reputed companies like Gustav wolf of Germany, Joh. Pengg AG of Austria and Tesac wire ropes of Japan. Usha Martin is known for making a wide range of wire rope products, which have applications across the world.

Usha Martin under Rajeev Jhawar is on a new start. After all that had happened in the recent past, the company is in the path for a new start. And it has already taken sprout under the leadership of Rajeev Jhawar. The company’s global R&D centre in Italy is actively engaged in the design of wire ropes and uses property design software to develop products. The company also has a comprehensive R&D facility in its manufacturing unit at Ranchi.

Product innovation that meets the customers’ needs is a continuous process for Usha Martin. They are a major supplier of several OEMs. The market leader in India in wire ropes, Usha Martin has the capacity to produce a wide range – from 4.8 mm to 130 mm in diameter – of wire ropes. USP of Usha Martin is diverse quality products that cater to large customers. It is the concept of a ‘super market’, where one can pick up everything under one roof. Describing the advantages of the overseas operations, Rajeev Jhawar affirms that these operations provide a significant synergy and support to the overall business performance. It also helps us to spread the offerings across the globe. The Covid pandemic had adversely impacted UML’s demand but the international market is expected to open up, though slowly.

Rajeev Jhawar thinks that in the next five years, the segment will see good demand. Mr. Rajeev Jhawar has also cautioned all to remain agile and responsive to the changing market needs and focus on increasing market share in high contributory products. Rajeev is bullish about the segment and expects oil & gas, ports and shipping to be the growth drivers. On a consolidated basis, 35-40 per cent of Usha Martin’s revenue is from exports to Europe, South East Asia, the US and the Scandinavian countries.

UML’s products are on par with the imported ropes. Even though the quality is good, there is a need to improve the services, says Rajeev Jhawar. Usha Martin enjoys strong brand recall in the segment. Usha Martin is now in the process of strengthening their projects and services under the leadership of Rajeev. The adopted HR policy of the company identifies future leaders. According to Rajeev Jhawar, the HR processes at UML find high-potential performers. UML nurture them internally through training and development, as part of a succession planning process, so that future leaders can be developed within the organisation.

China's Attack Would Hit Global Trade More Than Ukraine War: Taiwan

 

Geneva:

 Any Chinese military attack on Taiwan would have a greater impact on global trade flows than the Ukraine war, Taipei's top trade negotiator told Reuters on Tuesday, saying it would lead to a shortage of semiconductor chips.

Russia's invasion of Ukraine in February has triggered commodity price hikes and food export bans, leading to fears of famine in poorer countries. John Deng said that, were China to attack Taiwan, the potential disruptions could be worse, citing the world's reliance on Taiwan for chips used in electric vehicles and mobile phones.

"The disruption to international supply chains; disruption on the international economic order; and the chance to grow would be much, much (more) significant than this one," he told Reuters in an interview on the sidelines of a major World Trade Organization ministerial meeting in Geneva.

"There would be a worldwide shortage of supply."

The Taipei government has reported no signs of an imminent attack from China but Taiwan has raised its alert level since the Ukraine war began, wary of Beijing's intentions.

The Chinese government says it wants "peaceful reunification" but reserves "other options" for Taiwan, which it regards as a Chinese province, a view the democratically-elected government in Taipei strongly disputes.

Taiwan dominates the global market for production of the most advanced chips and its exports were worth $118 billion last year, its data showed.

Deng said he hoped to decrease the 40% share of its exports that go to China.

The Russian invasion is the first time in the 27-year-old global trade watchdog's history that one WTO member has invaded another. The body is hoping to reach a package of deals, including on food security to ease strained supplies, but tensions generated by the war could make that more difficult, trade sources say.

Taiwan, which has joined Western sanctions on Russia, participated in a standing ovation for Ukraine's WTO delegate on Sunday.

The WTO is one of the few multilateral organisations where China and Taiwan work side-by-side since Beijing blocks its participation in others.

Taiwan's Deng said the island, called 'Chinese Taipei' at the WTO, was encouraged by the WTO negotiations this week so far. It is also seeking to settle a three-year-old dispute https://www.wto.org/english/tratop_e/dispu_e/cases_e/ds588_e.htm it raised against India on tech tariffs before a formal WTO ruling.

Where does Russia stand after fall of Ukrainian city's last bridge leaves no escape route for residents?

 

Residents of the Ukrainian city of Severodonetsk have now been effectively cut off from the rest of the country with the fall of the last of the three bridges linking it with its twin city — Lysychansk. This means that Russia now controls a majority of Ukraine’s eastern region of Luhansk Oblast, which is populated largely by separatists.

To know more:https://www.indiatoday.in/world/russia-ukraine-war/story/russia-ukraine-war-news-bridge-destroyed-severodonetsk-putin-zelenskyy-1962139-2022-06-14

China Says It May Have Detected Signs Of Life Beyond Earth

 

China said its giant Sky Eye telescope may have picked up signs of life beyond Earth, according to a report by the state-backed Science and Technology Daily, which then appeared to have deleted the report and posts about the discovery.

The narrow-band electromagnetic signals detected by Sky Eye -- the world's largest radio telescope -- differ from previous ones captured and the team is further investigating them, the report said, citing Zhang Tonjie, chief scientist of an extraterrestrial civilisation search team co-founded by Beijing Normal University, the National Astronomical Observatory of the Chinese Academy of Sciences and the University of California, Berkeley.

The suspicious signals could, however, also be some kind of radio interference and requires further investigation, Zhang added.

It isn't clear why the report was apparently removed from the website of the Science and Technology Daily, the official newspaper of China's science and technology ministry, though the news had already started trending on social network Weibo and was picked up by other media outlets, including state-run ones.

In September 2020, Sky Eye, which is located in China's southwestern Guizhou province and has a diameter of 500 meters (1,640 feet), officially launched a search for extraterrestrial life. The team detected two sets of suspicious signals in 2020 while processing data collected in 2019, and found another suspicious signal in 2022 from observation data of exoplanet targets, Zhang said, according to the report.

China's Sky Eye is extremely sensitive in the low-frequency radio band and plays a critical role in the search for alien civilisations, Zhang is reported to have said.

India, Israel, US, UAE are I2U2, summit next month

 

US President Joe Biden will host a virtual summit with Prime Minister Narendra Modi, Israel Prime Minister Naftali Bennett and UAE President Mohammed bin Zayed Al Nahyan during his visit to West Asia from July 13 to 16.

A senior US administration official told reporters in a background call Tuesday that the new grouping will be called “I2U2” — “I” for India and Israel and “U” for the US and UAE.

In October 2021, a meeting of the foreign ministers of the four countries took place when External Affairs Minister S Jaishankar was visiting Israel. At that time, it was called the ‘International Forum for Economic Cooperation’. This time, the meeting will take place at the level of heads of government/state — an upgrade.

To know more: https://indianexpress.com/article/india/india-israel-us-uae-i2u2-summit-next-month-7970067/

Research finds stress accelerates immune aging

 

Washington: Published in the research of the ‘Proceedings of the National Academy of Sciences’ (PNAS) on June 13, a study explains age-related health inequalities, including the unequal toll of the pandemic on people, and identifies potential intervention points.

“As the world’s population of older adults increases, understanding disparities in age-related health is essential. Age-related changes in the immune system play a critical role in declining health,” said lead study author Eric Klopack, a postdoctoral scholar in the USC Leonard Davis School of Gerontology. “This study helps clarify mechanisms involved in accelerated immune aging.” As people age, the immune system naturally begins a dramatic downgrade, a condition called immunosenescence. With advanced age, a person’s immune profile weakens, and includes too many worn-out white blood cells circulating and too few fresh, “naive” white blood cells ready to take on new invaders.

To know more: https://telanganatoday.com/research-finds-stress-accelerates-immune-aging