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The Economic Times

PM E-DRIVE to boost EV adoption: HD Kumaraswamy

The PM E-DRIVE Scheme, announced by Union Heavy Industries Minister HD Kumaraswamy, aims to boost electric vehicle adoption through incentives and charging infrastructure development. This initiative follows the success of the FAME scheme and seeks to reduce environmental impact, improve air quality, and strengthen the EV manufacturing industry.

Business Standard

Penetration of electric vehicles growing across segments in auto industry

Tata Motors reported a penetration of 12.05 per cent, down from 12.61 per cent last year, while JSW-MG Motors surged to 33.77 per cent, up from 23.75 per cent

Business Line

Ather’s IPO: Interesting gleanings on EV industry from its DRHP and how PM E-Drive can give a booster dose

Ather predicts that by 2031, electric two-wheelers will be 52% cheaper than petrol bikes even without subsidies, highlighting their long-term cost efficiency despite higher initial costs

Business Standard

Plan to launch six products under alliance with Nissan on track: Renault

The plan to roll out six new products, including two electric vehicles under the Franco-Japanese automotive alliance Renault Nissan, at a total outlay of Rs 5,300 crore has been progressing and is on schedule, a top official of French car major Renault India said on Wednesday. Renault-Nissan, in February 2023, had announced investments of USD 600 million (about Rs 5,300 crore) in India, to bring in six new products, including two electric cars, and an upgradation of their Chennai plant. Renault India Country CEO and Managing Director Venkatram Mamillapalle at an event said on Wednesday that about 70-80 per cent of the total committed investments have been invested so far. "We have announced investments of Rs 5,300 crore to introduce six new products. It (the project) is on schedule. You will be hearing from us hereafter, very soon (on the launch of new models)," he said. Mamillapalle was speaking to reporters after unveiling a new range of "Night and Day Limited Edition" variants .

Business Standard

PM E-DRIVE to boost electric vehicle adoption, says H D Kumaraswamy

FAME-II proved to be financially successful, with approximately 93 per cent of targeted vehicles incentivized and 92 per cent of the allocated funds utilised, Kumaraswamy said

Business Standard

Quality Power files draft papers with Sebi to raise funds via IPO

Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering. The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of up to 1.2 crore equity shares, according to the draft red herring prospectus filed on Monday. As part of the OFS, promoter Chitra Pandyan will offload the shares of the IPO-bound company. The Pandyan family holds 100 per cent stake in Sangli-based Quality Power. Proceeds from the fresh issue are proposed to be utilised for the acquisition of Mehru Electrical and Mechanical Engineers Pvt Ltd, funding capital expenditure requirements for purchasing plant and machinery. Besides, the company will also use the funds for inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Quali

The Economic Times

Quality Power files draft papers with Sebi; to mobilise funds via IPO

Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering.

The Economic Times

Extending battery life with cutting-edge rejuvenation technology

Global warming is escalating due to rising greenhouse gases from fossil fuel use. Scientists are advocating for recycling and reuse, especially in battery management. Lead-acid batteries can be rejuvenated to extend their lifespan, reduce e-waste, and support a circular economy. This technology offers economic and environmental benefits.

The Economic Times

Plan to launch six new products under Renault-Nissan alliance is on schedule: Official

Renault India is progressing on schedule with its plan to roll out six new products, including two electric vehicles, under the Renault-Nissan alliance. The company has invested 70-80% of the committed Rs 5,300 crore so far. New limited edition variants of existing models have also been launched, available on a first-come-first-served basis.

The Economic Times

Tata, Analog Devices to explore opportunities for semiconductor manufacturing in India

Tata Group and Analog Devices have partnered to explore semiconductor manufacturing opportunities in India. Tata Electronics, Tata Motors, and Tejas Networks signed an MoU with ADI to enhance cooperation and use ADI's products in Tata applications like electric vehicles and network infrastructure. This collaboration aims to boost India's electronics manufacturing ecosystem.

The Economic Times

Coal India eyeing Argentina, Chile for critical minerals, says official

Coal India is exploring critical minerals in Argentina and is in discussions with Chile for lithium, according to India's federal mines secretary. The move aims to secure supplies of lithium, essential for electric vehicle batteries. India has listed 30 minerals as critical for clean energy adoption and is pursuing overseas pacts to secure these resources.

The Economic Times

Auto stocks to benefit from pickup in discretionary spending: Sandip Sabharwal

The good thing is that they have at least let the liquidity build up, which has built up as the government started to spend after the elections, which reduces some risk for the economy.

The Economic Times

Awfis opens new coworking centre in Ahmedabad comprising 30,221 sq ft

Awfis has launched a new coworking centre in GIFT City, Gandhinagar, expanding its footprint in Ahmedabad to around 83,500 square feet. The company aims to add 40,000 new seats this fiscal year, reaching a total of 1,35,000 seats across India. Awfis operates over 175 centres in 17 cities.

Mint

Bajaj Auto stock check: Rallying 131% in 1 year, should you buy it? Technical and fundamental experts advise

Bajaj Auto has surged over 75 per cent this year and is currently at a lifetime peak. While indicators show overbought conditions, strong support exists around ₹11,600-11,400. Investors are advised to protect profits as the stock navigates uncharted territory with potential resistance at ₹12,140

Business Standard

India presents opportunity, world moving into Indian era: Salesforce

Customer relationship management-focused Salesforce's chairman and chief executive Marc Benioff has said the world is moving into an "Indian era". Speaking to reporters on the sidelines of the annual "Dreamforce" event here, Benioff said the opportunities in India are "exciting" and the company has invested in the country aggressively. "You can see that the world is moving into the Indian era. There is no question that we are going to move into an incredible moment in India," he said. The city-headquartered global company which is aiming to close FY25 with a revenue of USD 38 billion has over 11,000 employees in the country. A bulk of the employee base serves the global client base, while the increasing adoption of digital technologies has made India business also grow. "We do all kinds of things in India including engineering and support but also we go to market in India," Benioff said, adding that it serves large customers like the auto major Bajaj group. He said the company has

Mint

E-commerce orders may be harder to return this festive season as sellers aim to maintain margins

Fashion and accessories experience a high frequency of returns, while returns in electronics and personal care items are relatively low.

The Economic Times

Hot stocks: Brokerage view on Bajaj Auto, Emcure Pharma, LTIMindtree and Bajaj Finance

CLSA maintains an underperform rating on Bajaj Auto with a target price of Rs 7,000. The recent launch of entry-level motorcycles by Bajaj and Triumph, particularly the Speed T4, is seen as promising. However, caution is warranted due to rising competition in the premium segment, moderated growth in the over-250cc category, and ongoing pressure in key export markets.

CNBC TV18

Bajaj Auto shares may fall to levels of ₹7,000, says CLSA on exports, competition worries

Bajaj Auto shares are trading well above their share buyback price of ₹10,000 apiece. The buyback was conducted earlier this year.

Mint

Stocks to Watch: IndiGo, SpiceJet, NTPC, Tata Power, JBM Auto, HCL Tech and more

Here’s a quick look at stocks likely to be in focus in today's trade.

Business Standard

Stock Market LIVE Updates: Sensex, Nifty tread water near flatline; IT sheds 3% financials, auto up

Stock Market LIVE Updates: Indian markets were trading mildly lower on Wednesday, ahead of the US Federal Reserve's policy decision announcement later in the day.

Mint

From pink dogs to Japanese whisky, India’s uber-rich diversify into rare collectibles

For India’s expanding tribe of ultra-affluent individuals, the contours of what counts as a worthy investment are expanding beyond vintage cars and Hussains to rare collectibles.

The Economic Times

India scores on subsidies for green H2: ReNew CEO

The global adoption of green hydrogen is slower than expected due to its higher cost compared to grey hydrogen. ReNew's CEO, Sumant Sinha, highlights the need for subsidies and mandates to drive progress. India is advancing faster with subsidies and procurement tenders. Europe and Japan face challenges in subsidy implementation.

Business Standard

Export of electric two-wheelers from India has lot of potential: Gadkari

Exports of electric two-wheelers from India has a lot of potential, specially to markets where Indian manufacturers are already selling conventional engine counterparts, Union Minister Nitin Gadkari said on Tuesday. Speaking at the launch of Revolt Motors' electric commuter motorcycle here, Gadkari said 50 per cent of motorcycles produced in India are exported and major players like Bajaj Auto, Hero MotoCorp, and TVS have a large presence in the international markets. The minister asked Revolt Motors to explore markets in the neighbouring countries as well as Africa and Latin America. Anjali Rattan, Co Founder and Chairperson of Rattan India Enterprises -- the promoter firm of Revolt Motors -- said the company has firmed up plans for exports to Sri Lanka to start with. The company is exploring export opportunities in Nepal, Africa, and Latin America as well. Revolt Motors on Tuesday launched its commuter bike RV1 with introductory prices of Rs 84,990 and Rs 99,990 for two variants

Business Standard

Bajaj to TVS, legacy ICE players assert dominance in EV two-wheeler segment

Bajaj Auto, TVS and Hero Motocorp collectively grab nearly half the electric two-wheeler market share in the second half of September till 17th

Business Line

Hindustan Zinc eyes expansion into zinc-based batteries

Vedanta-promoted will take a call by year-end

The Economic Times

India has potential to export electric two-wheelers: Nitin Gadkari

India has the potential to become a major export hub for electric two-wheelers, according to Transport & Highways Minister Nitin Gadkari. He highlighted that companies like Bajaj and TVS are already exporting nearly 50% of their production. With battery prices decreasing, electric vehicles are expected to be cost-competitive with petrol and diesel vehicles within two years, driving up demand.

The Economic Times

India has potential to produce lithium-ion batteries, Kashmir has 6% of global lithium stock: Nitin Gadkari

Union Road Transport and Highways Minister Nitin Gadkari announced that Jammu and Kashmir holds 6% of the world's lithium stock, highlighting India's potential to produce lithium-ion batteries. He emphasised the future of electric vehicles and the need for alternate fuels like ethanol and hydrogen. Gadkari also discussed India's growing automobile industry and its significant export contributions.

The Economic Times

EV maker Revolt Motors launches RV1; here is the price and range, and specs of the new bike

Revolt Motors has introduced its third electric bike, the RV1, following the RV300 and RV400. The RV1 is designed for city commuting and comes in two variants with different battery capacities. It features a strong frame, dual disc brakes, portable waterproof batteries, and an LCD display. Prices start at Rs 84,990, with bookings open from Tuesday.

The Economic Times

Bajaj looks to expand Triumph range, sales network to fuel future growth

Bajaj Auto aims to expand its Triumph brand presence in India's mid-size motorcycle segment. The company plans to increase its sales network to 170 outlets by year-end and over 200 next year. Bajaj recently launched two new 400-cc bikes, Speed T4 and Speed 400, priced at Rs 2.17 lakh and Rs 2.4 lakh respectively.

The Economic Times

Technical Breakout Stocks: Mahanagar Gas, Policy Bazaar and Britannia Industries hit fresh record highs on Tuesday

Sector-wise, buying interest was observed in auto, utilities, consumer durables, telecom, and realty, while metal, infrastructure, and capital goods faced selling pressure.

The Economic Times

EVs could reach 24% EU car market share by 2025, T&E says

Battery-electric cars in the European Union are projected to reach a market share of 20% to 24% by 2025, driven by lower prices. EV sales have slowed due to varied green incentives and tariffs on Chinese cars. Seven new electric models priced under 25,000 euros are expected in 2024 and 2025, boosting sales.

The Economic Times

More electric cars in Norway than petrol cars for first time

Electric cars outnumber petrol cars in Norway for the first time ever, an industry organisation said on Tuesday. Of the 2.8 million private cars registered in the Scandinavian country, 754,303 are all-electric, compared to 753,905 that run on petrol, the Norwegian Road Federation (OFV) said in a statement.

The Economic Times

Noida International Airport ties up with Statiq for EV charging infra

Noida International Airport has partnered with Statiq to provide electric vehicle charging infrastructure at the airside. Statiq will install, operate, and maintain the charging stations, which will be available to all concessionaires and airport vehicles. This initiative supports the airport's sustainability goals by enabling the use of electric ground support equipment and other EVs. The first phase includes a mix of AC and high-powered chargers.

Business Line

Sensex, Nifty edge higher as auto stocks rally; markets await Fed decision

The slight uptick came amid cautious trading as investors awaited key policy decisions from global central banks

The Economic Times

Nifty, Sensex scale new peaks but end flat ahead of Fed decision

The majority of Nifty stocks saw declines today, with 29 stocks falling and only 21 advancing. The top performing stocks included Hero MotoCorp, Bajaj Auto, Bharti Airtel, NTPC, and Mahindra & Mahindra, while the biggest losers were Tata Motors, Eicher Motors, Tata Steel, Coal India, and JSW Steel.

Mint

Top Gainers and Losers today on 17 September, 2024: Hero Motocorp, Bajaj Auto, Tata Motors, Eicher Motors among most active stocks; Check full list here

Top Gainers and Losers Today : The Sensex gained 90.88 points, or 0.11, to settle at 82988.78, while the Nifty gained 34.8 points, or 0.14, to close at 25383.75.

Business Standard

Nifty ends above 25,400; realty shares outperform

The domestic equity indices ended with minor gains on Tuesday. The Nifty settled above the 25,400 level after hitting the days low of 25,352.25 in morning trade. Realty, consumer durables and auto shares advanced while media, PSU bank and metal stocks declined.

CNBC TV18

Nifty 50, Sensex post record closes as markets await US rate decision

Bajaj Auto emerged as a top gainer in the Nifty following the launch of new Triumph variants. Hero MotoCorp hit a record high, climbing more than 3%.

Mint

Electric bus maker JBM Auto secures $100 million from ADB, AIIB

JBM ECOLIFE Mobility, a JBM Auto subsidiary, plans to use the funds to bring in 650 more electric buses across multiple states in a phased manner.

Business Standard

Indo National divests its entire 51% stake in Kineco for Rs 220 crore

Indo National Ltd, the manufacturer of consumer electrical products and dry cell batteries under brand Nippo, on Tuesday, announced to divest its entire 51 per cent stake in Kineco Ltd, a composites manufacturer, for Rs 220 crore. The Chennai-based manufacturer plans to deploy the funds in new-age enterprises, aerospace and defence industries, as well as across diverse categories of the fast-moving consumer goods sector, according to a statement. "The board of directors decided to sell its 51 per cent stake in Kineco Limited to a consortium of investors for a consideration of Rs 220 crore," it said. Indo National is the second-largest player in the dry cell industry, with a production capacity of 800 million batteries per annum. Besides it also has a presence in consumer electricals and torchlights manufacturing. In 2016, the company invested in Kineco, a key composites business offering a wide range of products and processing technologies for defence, railways and industrial ...