Over the past three trading sessions, the stock of Cummins India has gained about nine per cent on strong January-March quarter (Q4) results and good near-term prospects. Its Q4 performance was led by a healthy 29 per cent revenue growth over the year ago quarter. This was largely on the back of a 33 per cent jump in domestic revenues while exports witnessed a growth of 17 per cent.
Given India's reliance on coal, electric vehicles could at best be 10% more efficient than petrol in terms of CO2 savings.
'Instead of ACs, the government should do something to increase our salary.'
Uttam Ghosh -- like most leaders at the COP26 summit in Glasgow -- is surprised at India's pledge to achieve net zero carbon emissions by 2070.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
The Supreme Court on Thursday dismissed a plea by Skoda Auto Volkswagen India challenging an FIR registered in Uttar Pradesh by a customer over the alleged use of 'cheat device' in its diesel car by the company to manipulate emission norms.
We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
Tata Motors, India's largest electric passenger vehicle manufacturer, has signed an agreement with ride-hailing company Uber to supply 25,000 electric vehicles (EVs), the company said. The agreement is the largest EV commitment between an automotive manufacturer and a ride-sharing platform in India. Under the agreement, Uber will deploy Tata Motors' XPRES-T EVs by partnering fleet operators in Delhi National Capital Region, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad.
Tata Motors, India's largest electric passenger vehicle manufacturer, has signed an agreement with ride-hailing company Uber to supply 25,000 electric vehicles (EVs), the company said. The agreement is the largest EV commitment between an automotive manufacturer and a ride-sharing platform in India. Under the agreement, Uber will deploy Tata Motors' XPRES-T EVs by partnering fleet operators in Delhi National Capital Region, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad.
India's housing sector is witnessing probably the "biggest boom" in the last one and half decade driven by various factors such as affordability and customers aspiration to own homes, HDFC Capital Advisors Managing Director and CEO Vipul Roongta said on Tuesday. Addressing a real estate summit organised by FICCI, he noted that the residential real estate segment has revived strongly after going through a lot of pain due to new realty law RERA and demonetisation. "In the last one and half decade, I think this is probably the biggest boom I am personally seeing as an organisation on the residential segment, whether it is affordable mid-income and premium housing properties," said Roongta, who is also co-chairman, FICCI Real Estate Committee.
Union Minister Nitin Gadkari on Thursday said the government will approach the capital market this month to raise funds for road projects. Addressing an event, he said toll revenue of the NHAI will soar to Rs 1.40 lakh crore per annum in next three years from Rs 40,000 crore per annum currently. "This month, I will be approaching the capital market to raise funds for road projects...Our toll income is very good and NHAI's rating is AAA...I am 100 per cent sure that we will get a good response from the capital market," the Road Transport and Highways minister said.
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
Maruti Suzuki India is eyeing a leadership position in the SUV segment as it continues to add new products across various sub segments, a top company official said on Wednesday. The country's largest carmaker has bolstered its presence in the high volume entry and mid level SUV segments with new Brezza and all new model -- Grand Vitara. "In every segment except SUV, we are the market leader by a distance. "It is only in the SUV that we are behind, so we need to catch up. Clearly, we have to become number one in the SUV space also," Maruti Suzuki India MD and CEO Hisashi Takeuchi said in an interaction on the sidelines of the global unveiling of Grand Vitara.
Police have sealed the area while a fire brigade and an ambulance have been deployed there.
Spurs, Liverpool top eco-friendly table
'If we are to be a contributor to the economy, we have to reduce carbon and imports.' 'We will achieve both -- that's our target.'
He alleged that the BJP made people burst firecrackers on Diwali.
Use of 10 per cent ethanol-blended petrol has led to a saving of over Rs 41,000 crore in the foreign exchange for the country, minister of state for environment, forest and climate change Ashwini Kumar Choubey said on Wednesday. Speaking at an online event of auto industry body SIAM on sustainable mobility, the minister said the government is working in multiple ways to encourage sustainable mobility. "India recently achieved 10 per cent ethanol blending target 5 months in advance, saving over Rs 41,000 crore worth of fuel imports for the nation," Choubey noted.
For India to reach its bold target of having net-zero emissions by 2070, the country's solar power capacity would have to rise to over 5,600 GW, coal use particularly in the power sector will have to drop by 99 per cent by 2060 and crude oil would need to peak by 2050 and fall substantially by 90 per cent in the two decades thereafter, CEEW India has said. Prime Minister Narendra Modi on Monday surprised delegates at the COP26 climate summit with a bold pledge to cutting emissions at the world's third-biggest emitter to net-zero by 2070. Council on Energy, Environment and Water, a Delhi-based not-for-profit policy research institution, said, "The economic cost of India's net-zero 2070 transition (would be) over USD 13,000 billion between 2030 and 2100."
While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024.
Kolkata trams -- now in their 150th year -- are the last to survive modernity in Indian cities, writes Ishita Ayan Dutt.
The budget underscores government's previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, it stated. But the various spending initiatives are not offset by any significant announcements related to further increase revenue generation; rather, the announced revenue-related measures are aimed at other objectives such as fostering startup innovation, ensuring more equitable treatment for cooperatives and state employees, and promoting tax compliance through simplification, Christian de Guzman, a senior vice-president, sovereign risk group, Moody's Investors Service, said.
'Each cyclone has its own identity and its own behaviour based on the environmental conditions in the ocean and in the atmosphere.'
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.
India lost around 38.5 thousand hectares of tropical forest in the last decade. Nearly 14 per cent of the country's tree cover! It is one thing for Modi to announce that India will reach a net-zero level of emissions in 2070. But if it is serious, it needs to start today, points out Ramesh Menon.
Prime Minister Narendra Modi on Friday alleged that "urban Naxals and anti-development elements" with political backing had stalled the construction of Sardar Sarovar dam on the Narmada river in Gujarat for many years by running a campaign that it would harm the environment.
India is well positioned to continue to be the fastest-growing major economy next year, which may mark the lowest global growth since the millennium began barring the pandemic and the global financial crisis, according to Tata Sons chairman N Chandrasekaran. In his New Year message to around 9.35 lakh employees of the Tata Group, he said increasing consumption, consumer confidence and investment will support India's growth story although the global environment has several risk factors, including the energy crisis in Europe, the battle to contain inflation to avoid recession, and ongoing geopolitical conflicts. "Post-pandemic, India opened up, and we have returned to living our daily lives normally, in a year that saw the nation turn 75 years old.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
Shyam Saran, Prime Minister Manmohan Singh's special envoy on climate change, who is in Pittsburgh, declared several times why India can not accept any legal or quantifiable limits to carbon emissions. There are many social issues in India, he had explained.
Leading automakers Maruti Suzuki India, Hyundai and Tata Motors reported a double-digit increase in dispatches to dealers in April as the demand remained robust especially for the sports utility vehicles. The country's largest car maker Maruti Suzuki India (MSI) said its domestic passenger vehicle wholesales rose 13 per cent to 137,320 units last month as against 121,995 units in April 2022. Sales of mini cars, comprising Alto and S-Presso, fell 18 per cent to 14,110 units as compared with 17,137 units a year ago.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
The slot constraint in Indian airports is also going to play a role in pushing airlines to have wide bodies.
President Trump originally announced his intention to withdraw from the agreement in 2017 and formally notified the United Nations last year. The US exited the pact after a mandatory year-long waiting period that ended on Wednesday.
Driven by strong demand, the overall passenger vehicle dispatches crossed 3.35 lakh units in February as automakers, including Maruti Suzuki India, Hyundai, Tata Motors and Mahindra & Mahindra, reported robust sales during the month. The dispatches of more than 3.35 lakh units last month marked an 11 per cent over February 2022. It was also the highest ever overall wholesales in the month of February. The country's largest carmaker Maruti Suzuki India on Wednesday said its domestic wholesales rose 11 per cent to 155,114 units in February as compared with 140,035 units in the same month last year.
The government has deferred the implementation of the proposal to make six airbags mandatory in passenger cars by one year to October 1, 2023, Road Transport and Highways Minister Nitin Gadkari said on Thursday. The government had earlier planned to make six airbags mandatory in eight-seater vehicles for enhanced safety of occupants from October 1, 2022. "Considering the global supply chain constraints being faced by the auto industry and its impact on the macroeconomic scenario, it has been decided to implement the proposal mandating a minimum of 6 Airbags in Passenger Cars (M-1 Category) w.e.f 01st October 2023," Gadkari said in a tweet.
French IT firm Atos is planning to hire 15,000 people in the next 12-18 months in India, including climate experts, as it moves towards decarbonisation by 2028, chief operating officer (COO) Nourdine Bihmane said. "India is a strategic market for Atos. "We have been present here for the last 30 years, and we have grown organically since. "People and innovation are our two key drivers to build momentum. "India represents one-third of our total workforce," Bihmane said. Atos has around 40,000 employees in India.
According to Downing Street sources it was "no biggie".
Prime Minister Narendra Modi on Tuesday asked financial institutions to come out with innovative and futuristic financing as well as risk management ideas to fund the emerging needs of the economy. Stating that implementation of green financing is the 'need of the hour' to meet net-zero carbon emissions target by 2070, Modi said financial help should be extended to environment-friendly projects. "Our financing sector will have to look into new futuristic ideas, initiatives and think of innovative financing and sustainable risk management ideas," Modi said in a post-Budget webinar on 'Financing for growth and aspirational economy'.
Electric vehicle market is likely to attract investments of Rs 94,000 crore over the next five years and is expected to generate business opportunities in the real estate sector, according to a joint report by Colliers India and Indospace. The report 'Electric Mobility in Full Gear' mentioned that the electric vehicle (EV) industry in India is currently at a nascent stage but it is likely to grow, backed by government initiatives and a move towards recognising climate change. "India is taking a step towards sustainability and has vowed to cut its carbon emissions. "At the recently concluded CoP26 summit, India pledged to reach net-zero carbon emissions by 2070. "In India, the transport sector is currently the third-largest emitter of CO2. This is leading to increased thrust on EVs in India," it said.
The Central Pollution Control Board on Monday reviewed the air quality in Delhi-NCR observing that the contribution of stubble burning may rise in the next five days with the AQI fluctuating between 'very poor' and 'severe' categories.
