Exide Industries Ltd, the storage battery maker, has planned to tap the Russian market for its submarine batteries and has earmrked Rs 60 crore (Rs 600 million) for capacity expansion.
The charging infrastructure expansion includes the setup of over 600 DC charging stations by 2030 (including company-owned and company-operated ones) in addition to partnerships with over 10,200 charging points, collaborating with operators like Shell, Charge Zone, and Statiq.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
RIL subsidiary Reliance New Energy Solar, Ola Electric, Hyundai Global Motors Company and Rajesh Exports have been approved for receiving incentives under the Rs 18,100 crore Production Linked Incentive (PLI) scheme for battery manufacturing in India, sources said on Thursday. "The ministry had received bids from 10 companies with a capacity of 130 GWh. Reliance, Ola Electric, Hyundai and Rajesh Exports have qualified for ACC batteries," a source said. Other companies which had applied for the PLI scheme for Advanced Chemistry Cell (ACC) batteries were Lucas-TVS, Mahindra & Mahindra, Amara Raja Batteries, Exide Industries, Larsen & Toubro and India Power Corporation Limited.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
Insurance stocks gain after parliament passes bill to hike FII limit.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
An analysis of past 20 years' demand cycles done by Edelweiss Securities indicates that the auto sector is currently in the middle of a down cycle. Volume recovery, they say, is unlikely to be as sharp as in the past, unless there is strong fiscal support.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on a weekly basis.
Mutual funds bought metal, telecom, pharma, cement, and oil and gas stocks in August. Selling was seen in auto majors, sugar, power, textile, and construction stocks, while stocks were re-aligned in the IT, and chemical sectors.
Mutual funds bought metal, media, telecom, engineering, and pharma stocks in December
Exide Industries Ltd has posted a net profit of Rs 127.20 million for the quarter ended December 31, 2002 as compared to Rs 77.50 million in the quarter ended December 31, 2001.
Exide Industries Ltd, foraying into the life insurance sector by picking up stake in ING Vysya Life Insurance Company Pvt Ltd, has earmarked a total investment of Rs 400 crore (Rs 4 billion) for the life insurance venture in the next four years.
Exide Industries Ltd, the leading power storage solutions company, on Friday announced a 78 per cent jump in its profit after tax to Rs 13.90 crore (Rs 139 million) during the April-June 2003 quarter.
The Sensex closed at 11,853.85 down 79 points. The Nifty lost 23 points to close at 3,455.
Exide Industries, a Rs 1,000 crore (Rs 10 billion) company and the largest automotive battery manufacturer, said on Wednesday that it was in the process of designing batteries suitable for the American automobile market.
Storage battery major Exide Industries Ltd has dropped its plan to set up a manufacturing facility in Bangladesh and also put on hold its joint venture with a Malaysian firm to set up a reclamation plant in India.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Exide Industries has posted a 66.5 per cent increase in net profit to Rs 52.33 crore for FY03 as against Rs 31.42 crore in FY02.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Deal with current owner Exide may be signed next week
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
Markets gained for the fifth straight session to end the customary 'Muhurat' trading session held to usher in the new year Samvat 2071 on a firm note post the slew of reforms announced by the government over the past few days.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Higher disposable incomes, rural push and infra push to boost auto sector
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
Sun Pharma stock has appreciated at 35% a year for 20 years
Mid-caps in cyclical sectors such as cement, financials and capital goods estimated to earn much more
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