Bangalore adds more vehicles than Delhi each day -- over 1,000. It has less road space than Delhi and more green space. The future the city has is ugly and hopefully not inevitable.
Bajaj Auto is gearing up to launch clean-energy vehicles including another motorcycle powered by compressed natural gas (CNG), showcase ethanol-powered motorcycles and three-wheelers next month, as well as launch a new Chetak platform early next year, as it closes in on hitting 100,000 monthly sales from clean-energy vehicles this festival season. In an interview with CNBC-TV18, Bajaj Auto managing director Rajiv Bajaj said these initiatives were part of the firm's broader goal to achieve monthly sales of 100,000 clean-energy vehicles this festival season.
Indian Oil Corporation, which is preparing a 'Hydrogen blue print', will begin manufacturing hydrogen at either its Mathura or Panipat refineries and use the mixture of CNG and hydrogen initially in company-run buses.
Domestic commercial-vehicle (CV) sales volume will witness significant growth over the next few years and the overall CV volume is likely to reach close to 1-million units by FY24, a report said on Wednesday. The report by credit ratings agency Fitch Ratings also expects growing demand and the resultant rise in operating leverage to boost the profitability of the domestic CV-focused original equipment manufacturers after FY22, despite elevated production costs. A recovery in medium and heavy CVs from multi-year lows, along with sustained growth in light CV categories, will help overall CV volume to reach close to 1-million units by FY24 - the level of the last cyclical peak recorded in FY19, it said.
India's largest oil firm IOC will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy. Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said. The company will not set captive power plants at all its future refinery and petrochemical expansion projects and instead use the 250 MW of electricity it produces from renewable sources like solar power, he told PTI in an interview.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
According to reports, by last year, the company has helped its customers save 15 per cent on costs -- around 5-6 per cent on fuel and 15 per cent on fleet utilisation through digital measures.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
The cost of CNG, which will be reduced by up to Rs 15 per kg in the next few days following a rejig in natural gas allocation, will go up by Rs 10.6 a kg in April, when domestic gas prices almost double.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
The Ministry recently issued an order saying 'no authorisation from Petroleum and Natural Gas Regulatory Board is required for setting up of a CNG station.' PNGRB has been since 2009 issuing licences to entities for city gas distribution networks, essentially for retailing compressed natural gas to automobiles and piped cooking gas (piped natural gas or PNG) to households.
Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 commitment of cutting emission intensity by 33-35 per cent.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL) was down 1.06 per cent in trade on margin pressures in Q1FY24, mixed market share outlook, and earnings impact due to the buyout of Suzuki Motor Gujarat. While MSIL has decided to terminate the contract manufacturing agreement and acquire Suzuki Motor Gujarat, the quantum of payment and mode (cash/equity swap) has not been decided. If the cash option is opted for, there would be a 3.5-4 per cent hit to MSIL's FY25 earnings per share as the deal is expected to be completed by the end of the current financial year.
CNG prices in Mumbai may have to be hiked by about Rs 16 per kg and piped cooking gas by Rs 10 after government decided to divert some of its cheaper domestic gas to Gujarat.
Union Railway Minister Suresh Prabhu flagged off the first CNG (Compressed Natural Gas) based from Haryana's Rewari station.
Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
The likely solution that appears before the AAP government is to seek for a higher quota of domestic natural gas for Delhi, which would bring down auto and cooking gas prices.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
Price has increased from Rs 41.90 to Rs 45.60.
Maruti Suzuki's contribution to the sales revenue of its Japanese parent, Suzuki Motor Corporation (SMC), has touched the highest-ever figure during April-December of FY23. According to SMC's results declared on Tuesday, Maruti's share in its global revenues jumped from 33.42 per cent in April-December of FY22 to 40.93 per cent in the corresponding period of FY23.
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
Despite a 187 km, seven-line metro network carrying 2.4 million commuters every day, private vehicles rose 92% over the last 15 years
With the government's focus on environment-friendly fuel, Indraprastha Gas, Mahanagar Gas and Suzlon's earning prospects look bright
According to Siam data, Indian auto companies sold 982,456 units of utility vehicles in the first half of FY23, a 50.29 per cent growth over the corresponding period last year.
The Health and Family Welfare department had issued a detailed order on Sunday, notifying the lockdown in the whole of Delhi, stipulating various restrictions.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
The social media platform will give real time information about available public transport in an area through the @TransportDelhi handle and #pollutionfreeDelhi hashtag
Bajaj Auto Ltd is close to introducing two-wheelers that will use green fuels such as compressed natural gas or liquefied petroleum gas.
Moving from pricing control to a free market means stiff competition.
Amid a shift in mobility trends and people increasingly opting for less polluting energy sources, sales of compressed natural gas (CNG) vehicles increased more than 82 per cent in the past five years. A total of 729,902 CNG vehicles were sold in 2022-23 against 400,825 in 2017-18, according to VAHAN Dashboard. Though the increase in sales of CNG-powered vehicles has been significant, their share in overall vehicle sales remains minuscule as is the case with EVs.
The party also attacked Jung over alleged inaction in the compressed natural gas fitness scam, irregularities in the Delhi & District Cricket Association.
It is the end of the road for diesel taxis including those run by aggregators like Ola and Uber in Delhi and National Capital Region.
The world's fastest growing CNG firm Indraprastha Gas Ltd's shares soared 130 per cent on their trading debut at the Bombay Stock Exchange on Friday.
The Supreme Court has directed a series of actions to clean the Taj, including bringing in compressed natural gas (CNG) to replace dirty coal.
There was no confirmation from the district administration of reports that the fire was apparently caused by a rupture in the 36-inch Uran-Mumbai gas pipeline.
The International Centre for Automotive Technology at Haryana will authorise usage of labels for each vehicle model and its variant.
Larsen and Toubro has outbid Hyundai, Samsung and NPCC to win two major offshore platform contracts from the Oil and Natural Gas Corporation, aggregating over Rs 5,300 crore.
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