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The Economic Times

Ellenbarrie Industrial Gases files DRHP with Sebi to raise funds via IPO

The IPO comprises a fresh issue of up to Rs 400 crore and an OFS of up to 1.44 crore equity shares. Additionally, the company may raise up to Rs 80 crore in a pre-IPO placement, potentially reducing the fresh issue size.

The Economic Times

Bhartias lead race for Coke bottler Hindustan Coca-Cola Beverages, ink exclusivity pact to buy up to 40% stake for $1.4 billion

The Jubilant Bhartia Group promoters are leading the race to acquire a significant minority stake in Coca-Cola's India bottling arm, Hindustan Coca-Cola Beverages (HCCB). They have signed an exclusivity agreement with Coca-Cola to negotiate the purchase for Rs 10,800-12,000 crore. This move is part of Coca-Cola's strategy to adopt an asset-light model and precedes a planned listing of HCCB.

Business Line

Renault’s CNG variants to hit the market alongside new models

The CNG variants will be rolled out across key markets, with Renault already positioning its MPV, the Triber, as a strong contender in the fleet segment

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.

Business Standard

Centre's support to help attain $1 bn exports of alcoholic beverages: CIABC

Support from the Centre and state governments will help the country to achieve USD 1 billion worth of alcoholic beverages exports in the coming years, the Confederation of Indian Alcoholic Beverage Companies (CIABC) said on Wednesday. CIABC Director General Anant S Iyer also said that promoting ease of doing business for the sector is key at both the Central and state government levels. Easy and timely permissions for bottling and branding; transport permits; and promoting online paperwork are some of the areas which need special attention for the growth of the sector. "We need ease of doing business across the operations, besides easy tax structures and market-determined prices to boost the exports. At present, rules for the sector differ from state to state," Iyer said. He said the USD 1 billion target is "ambitious, but possible". In 2023-24, the exports stood at USD 389 million. He added that the industry should give a try for this target as it needs about 14-15 per cent ...

Business Standard

ArcelorMittal's India joint venture seeks duty-free LNG imports: Report

India, the world's second biggest crude steel producer, levies a 2.5 per cent basic customs duty and an additional 0.25 per cent social welfare tax on LNG

Business Standard

M&M eyes sub-3.5 tonne SCV market with Veero launch on multi-fuel platform

Priced at Rs 7.99 lakh for the entry-level product, M&M launched the diesel and CNG variants, and an electric version will come in the future

Business Standard

Mahindra expands LCV range with product based on multi-energy platform

Mahindra & Mahindra on Monday expanded its light commercial vehicle (LCV) range with a new product range based on an all new platform developed at an initial investment of Rs 900 crore. The company has introduced "Veero" light commercial vehicle in the less than 3.5 tonne range with both diesel and CNG trims, with price starting at Rs 7.99 lakh (ex-showroom). An electric version of the LCV would be introduced at a later stage. In an interaction with PTI, Mahindra & Mahindra (M&M) President Automotive Division Veejay Nakra said the model will help the company further strengthen its leadership in the LCV (less than 3.5 tonne) segment. The product, with multiple fuel options and payloads, will be useful for various applications, he added. "We have a market share of around 51 per cent in the less than 3.5 tonne LCV segment... now this range comes in 2-3.5 tonne segment where we have a market share of 63 per cent. So it will help us further strengthen market share beyond 63 per

The Economic Times

Mahindra expands LCV range with product based on multi-energy platform

Mahindra & Mahindra has launched the Veero light commercial vehicle in the sub-3.5 tonne category, with diesel and CNG options starting at Rs 7.99 lakh. An electric version will follow. The new range aims to strengthen M&M's market leadership, addressing diverse business needs with multiple fuel options and payloads.

Business Line

Mahindra unveils Veero: New LCV aims to disrupt sub-3.5 ton segment

The Veero offers multiple fuel options including diesel and CNG, with an electric variant planned for the future. It boasts a best-in-class payload capacity of 1,600 kg and claims superior fuel efficiency with 18.4 km/l for diesel and 19.2 km/kg for CNG variants

Mint

Mint Explainer: Inside the lucrative world of soft-drink bottling manufacturers and why they are going public

Experts say there is a larger trend of consumer giants spinning off their units to optimise their balance sheets, go asset-light and focus on their core brands and business models.

The Economic Times

Reliance Retail to transfer most of its FMCG brands to RCPL to scale up the business

Reliance Retail is set to transfer its FMCG brands, including Campa and various private labels, to Reliance Consumer Products Ltd (RCPL) for rapid business expansion. RCPL plans exclusive bottling plants for Campa and is preparing for a capital infusion of up to Rs 3,900 crore through equity and debt. This strategic move aims at enhancing brand availability.

The Economic Times

CNG, hybrid cars take expressway to drive past EVs

The Indian car market is seeing a rise in CNG and hybrid vehicles, outpacing electric cars. CNG car sales grew by 46% from January to August, while hybrids saw a 19% increase. Despite efforts to boost EV adoption, infrastructure challenges and high costs remain barriers.

The Economic Times

ICE, CNG, EV & ethanol will co-exist; Bajaj Auto wants to maintain agility to toggle between fuel systems: Rakesh Sharma

Rakesh Sharma, ED of Bajaj Auto, discusses the company's approach to balancing various fuel systems like gasoline, CNG, EV, and ethanol. He highlights the success of their CNG bike and emphasizes the importance of maintaining agility in fuel options. The article also touches on the impact of economic recovery on two-wheeler demand.

The Economic Times

What should one do in the crude-related counters? Sandip Sabharwal answers

Sandip Sabharwal discusses the subdued outlook for crude and oil prices due to excess capacity and upcoming LNG projects. He highlights the potential outperformance of defensive sectors like FMCG and pharma, while also noting the challenges faced by Zee Entertainment and private sector banks. Key beneficiaries of lower crude prices include aviation and auto companies.

The Economic Times

Singapore's AG&P in talks to buy H-Energy's LNG Terminal

Singapore-based AG&P is negotiating with H-Energy to acquire its LNG terminal in Jaigarh, Maharashtra. This acquisition would help AG&P source LNG and expand its city gas distribution business in India. The deal is expected to close soon, with plans to complete the pipeline and connect it to the national gas grid.

Business Standard

Maruti Suzuki Swift CNG launched in India, Check features, engine, and more

The new Swift CNG has been launched in India with a starting price of Rs 8.19 lakh. The carmaker discontinued diesel models and aims to sell over six lakhs in FY 2024-25

Business Standard

Maruti Suzuki India launches S-CNG variant of the Epic New Swift

Positioned as India's most fuel-efficient premium hatchback

Business Standard

Maruti Suzuki targets to sell 600K CNG vehicles this fiscal: Official

Maruti Suzuki India is looking to sell around 6 lakh CNG vehicles in the current fiscal, an increase of around 25 per cent as compared to FY24, according to a senior company executive. The country's largest carmaker company on Wednesday expanded its CNG model range as it rolled out its premium hatchback Swift with S-CNG trims. "This fiscal we are targeting to sell around 6 lakh CNG units. We ended last year with sales of around 4.77 lakh units," Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Partho Banerjee told PTI in an interaction. In the April-August period this fiscal, the auto major has so far sold 2.21 lakh units, he added. The new Swift comes in three variants priced at Rs 8.19 lakh; Rs 8.46 lakh and Rs 9.19 lakh respectively. Banerjee said the S-CNG trims deliver a fuel-efficiency of 32.85 km/kg. "The company pioneered the production of CNG vehicles in India back in 2010. Since then, we have sold over 2 million S-CNG vehicles to date, contributing to

The Economic Times

Maruti Suzuki targets to sell 6 lakh CNG units this fiscal: Official

Maruti Suzuki India aims to sell around 6 lakh CNG vehicles this fiscal, a 25% increase from FY24. The company has expanded its CNG model range with the new Swift S-CNG trims. Last year, they sold 4.77 lakh units and have already sold 2.21 lakh units this fiscal.

The Economic Times

Maruti Suzuki launches Swift S-CNG hatchback cars at an ex-showroom price of Rs 8.19 lakh

Maruti Suzuki's Indian subsidiary has launched the S-CNG variant of the Epic New Swift, boasting a fuel efficiency of 32.85 km/kg. The new model features a Z-series Dual VVT engine, available in three variants with enhanced safety and comfort features. Prices start at Rs 8.19 lakh ex-showroom.

The Economic Times

Andaman administration urges Centre to rethink plan to build 50-MW gas-based unit

The Andaman & Nicobar Islands administration has requested the union power ministry to reconsider a shelved 50-MW LNG-based power plant. They also proposed an alternative HVDC line connection from the mainland. The region seeks a stable power supply to meet growing demand, following NTPC's announcement of another LNG plant for Great Nicobar Islands.

Business Line

Bajaj Auto sells over 6,000 units of India’s first CNG motorcycle

The CNG bike is presently available in nearly 77 towns across the country, with a focus on the hinterland

Business Standard

Premier Explosives hits 5% upper limit on inking deal with Astra Microwave

The uptick in Premier Explosives share price came after the company announced that it has inked a memorandum of understanding (MoU) with Astra Microwave to develop and sell multiple products jointly.

The Economic Times

Varun Beverages 2:5 stock split record date tomorrow; last day to buy for eligibility

Varun Beverages, PepsiCo's bottling partner, has announced a 2:5 stock split effective from September 12, 2024. This means each Rs 5 share will be split into shares worth Rs 2 each. The company reported a 26% YoY increase in profit for Q2 2024 and a 28% rise in revenue.

Mint

PN Gadgil Jewellers' IPO: A glittering prospect?

PNG's strong brand and multi-channel strategy position it well for India's growing jewellery market, but investors should carefully assess sector risks before investing.

The Economic Times

Nitin Gadkari encourages carmakers to setup scrapping centres, announces testing agency in Pune

India currently has 63 operational scrapping centres, with more under construction and in the pipeline. Union Minister Nitin Gadkari highlighted the potential of the scrapping industry to boost sales and create jobs. He also emphasized the importance of alternative fuels like CNG, LNG, and hydrogen for economic and environmental benefits. Gadkari urged manufacturers to focus on quality and safety in vehicle production.

The Economic Times

Tata Motors slashes entry prices of several models including Nexon, Harrier by up to Rs 2.05 lakh

Tata Motors has launched its 'Festival of Cars' with price reductions up to Rs 2.05 lakh on popular models like Tiago, Altroz, Nexon, Harrier, and Safari. The offers are available until October 31, 2024, and include attractive exchange and cash benefits for petrol, diesel, and CNG vehicles.

The Economic Times

ADNOC to supply Indian Oil with LNG for 15 years

The Abu Dhabi National Oil Company has signed a 15-year agreement to supply Indian Oil with 1 million metric tons of liquefied natural gas annually. The LNG will primarily come from ADNOC's Ruwais project, which is set to start production in late 2028 and will significantly increase the company's LNG capacity.

The Economic Times

India plans to push LNG for trucking in bid to curb emissions

India plans to cut trucking industry pollution by converting a third of long-haul trucks from diesel to liquefied natural gas (LNG) and mandating that a third of new trucks run on LNG. This move aligns with Prime Minister Narendra Modi’s goal to increase the share of natural gas in the energy mix by 2030.

CNBC TV18

Explained — Why Petronet LNG shares fell the most since July on Monday

Out of the 34 analysts that have coverage on Petronet LNG, 17 of them have a "sell" rating on the stock, 10 of them say "hold", while only seven of them have a "buy" rating.

The Economic Times

EVs will cost the same as petrol and diesel vehicles in 2 years, says Nitin Gadkari

Transport Minister Nitin Gadkari announced that within two years, the cost of petrol and diesel vehicles is expected to equal that of electric vehicles (EVs). He also mentioned that while subsidies for EVs might still be considered, their need is diminishing due to falling production costs and growing consumer preference for EVs and CNG vehicles.

The Economic Times

Aim to shift a third of trucks to LNG in 5-7 Years: Oil Ministry

The Indian government aims to have liquefied natural gas (LNG) power a third of the country's long-haul heavy-duty vehicle fleet within 5-7 years, with plans to use domestic gas for this initiative. The proposal includes stabilizing LNG prices by allocating 0.5 million metric standard cubic meters per day of domestic gas for the next three years, sufficient to support 50,000 trucks.

Mint

Nigeria Issues First License to Build Delayed Floating LNG Plant

Nigeria’s UTM Offshore Ltd. has received approval to build the West African nation’s first-ever floating liquefied natural gas facility — five years after it was first announced.

Business Line

Govt offers dedicated gas capacity for up to 3 years to promote LNG-powered trucks

Oil Ministry wants to promote LNG as fuel for heavy haulers to reduce carbon emissions in transport sector

The Economic Times

EV subsidies no longer needed, says Transport minister Nitin Gadkari

Road transport and highway minister Nitin Gadkari announced that subsidies for electric vehicle makers are no longer necessary as production costs have decreased. He highlighted the lower GST rate on electric vehicles compared to petrol and diesel vehicles, emphasizing that consumers are now choosing EVs and CNG vehicles independently.

The Economic Times

Compressed biogas price mechanism to be tweaked

CBG prices, which are linked to the retail rates of compressed natural gas (CNG), have fallen about 12% in the past year and a half to Rs 1,290 per mmbtu from Rs 1,470. The decline was partly driven by the government's decision in April 2023 to cap the price of domestic natural gas to $6.5 per mmbtu. City gas distributors mix this price-capped natural gas with CBG to serve their CNG customers.

The Economic Times

Dabur, Jubilant owners bid for stake in Coca-Cola's India bottling arm HCCB

Parent Coca-Cola Co will decide if the deal will involve one or two co-investors, or if negotiations lead to creation of an investor consortium. A decision is likely by the end of this fiscal year. ET was first to report on June 18 that Coca-Cola had sounded out a group of Indian business houses and family offices of billionaire promoters to buy into HCCB, an arm it eventually wants to take public to cash in on the bullish domestic capital markets.

Hindustan Times

Price of 19 kg commercial LPG cylinder increased by ₹39 in Delhi

The hike, increasing the price of commercial LPG cylinders to ₹1,691.50 comes after a July 1 price cut to offer relief to businesses

The Economic Times

Oil marketing companies increase 19 kg commercial LPG cylinder price by Rs 39

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