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The <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> of <keyword id="14070439" type="General" weightage="100" keywordseo="Waaree-energies-limited" source="Orion">Waaree Energies Limited</keyword> (WEL), India's biggest manufacturer and exporter of solar PV (photovoltaic) modules, opens for subscription today and is set to close on October 23, 2024. The IPO worth Rs 4,321.44 crore is a combination of a fresh issue worth Rs 3,600 crore and OFS (offer for sale) worth Rs 721.44 crore. Retail investors, who are being offered about 35% of the total issue pie, can bid for a minimum of 1 lot, which includes 9 shares, taking the minimum investment amount to Rs 13,527. With the listing set for Monday, October 28, 2024, the company has set a price band of Rs 1,427 to Rs 1,503 per share. However, prior to the stock's debut on the bourses, the company's <keyword id="19931032" type="General" weightage="20" keywordseo="gmp" source="keywords">GMP</keyword> (grey market premium) has been scaling fresh highs. As of today, <keyword id="1415709" type="General" weightage="20" keywordseo="Waaree" source="Orion">Waaree</keyword> Energies GMP was Rs 1,475, taking the potential listing price to Rs 2,978. This means that the expected gain per share from the stock's listing is a whopping 98.14%. The company's GMP has been on a steady rise, inching up from Rs 1,280 on October 15, 2024, to Rs 1,475 today. However, today's GMP was a tad bit down from the Rs 1,510 levels it was trading at yesterday. <h2>About the company</h2>The company, which operates 4 manufacturing facilities in Gujarat, India, commenced operations in 2007. As of FY24, it commands a 21% share in India's domestic solar module manufacturing space and a healthy 44% share in its exports from the country. In just 3 years, the company has exponentially increased its manufacturing capacity, from 2 GW in FY21 to 13.3 GW in FY24. Waaree will be utilizing the proceeds from the issue to set up a 11.4 GW integrated manufacturing facility. Out of this, a 5.4 GW solar cell manufacturing facility will be operational in Chikhli next year. Another 6 GW establishment in Odisha, which is expected to be functional by FY27, will produce ingots, wafers, and solar cells. The company has recently also been awarded orders worth Rs 19 billion under the government's PLI (Production-Linked Incentive Scheme). The company's bottom line, i.e., financials, have also been going from strength to strength over the past few years. Waaree's revenue from operations stood at Rs 1,13,976.09 million as of FY24, up from Rs 28,542.65 million in FY22. Its PAT (<keyword id="142274" type="General" weightage="20" keywordseo="Profit-after-tax" source="Orion">profit after tax</keyword>) also took a massive jump, from Rs 796.5 million in FY22 to Rs 12,743.67 million in FY24. The company also reported PAT margins of 2.70% in FY22, 7.29% in FY23, 10.96% in FY24, and 11.47% in the first quarter of FY25. During these years, WEL's basic EPS (earnings per share), a measure of the company's profitability, also inched up 3.84 in FY22 to 48.05 in FY24. However, the company is not without its share of risks. The most prominent of them is its heavy reliance on its top 10 customers and export revenue. As of FY24, they contributed 56.77% and 57.64% to the total revenue, respectively. <h2>Subscribe for the long-term</h2>Experts are largely recommending subscribing to this IPO for the long term. Per InCred Equities' IPO note, "In 1QFY25, the company’s revenue was at Rs 34 billion (+2% YoY), while EBITDA and PAT stood at Rs 5.5 billion (+18% YoY) and ~Rs 4 billion (+19% YoY), respectively. Based on FY25F annualized financials, the IPO’s higher band implies an EV/EBITDA of~18x and a P/E of~27x, which is at a discount to its peers, in our view. We recommend subscription to the IPO, given the strong financials, strong industry tailwinds with long-term opportunities in the solar industry, robust order backlog, and further expansion plans." Bajaj Broking also shares these views, albeit it notes that the issue appears to be fully priced rather than being on discount. "If we attribute FY25 annualized super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 26.91, and based on FY24 earnings, the P/E stands at 44.36. The issue relatively appears fully priced. We recommend subscribing to this IPO for the long term," it continued. Per Anand Rathi Research, the company's offer is reasonably priced with a PE of 26x (per FY25 earnings) and a market cap of Rs 4,31,786 million. "We believe that, with solar energy emerging as a key global theme in the transition to renewable energy, WEL is well placed to capitalize on the growing opportunity given its leading market share, strong financials, and continued focus on innovation and sustainability with capacity expansion through backward integration. We recommend "subscribing” to this IPO issue," it explained.

Waaree Energies Limited opens for subscription today. Should you invest?

The <keyword id="1370377" type="General" weightage="20" keywordseo="BPM-industry" source="Orion">BPM industry</keyword> in India is at the cusp of a transformation and the demand for AI-enabled talent is set to surge, redefining workforce needs across the sector. “My spectrum tells me, in the next 3-5 years, there’s going to be an uptick in AI-enabled workers till the time that models stabilise,” said Nitasha Atreya, the Head of Transformation, Digital Operations and Platforms at Wipro, during a panel discussion on “AI-Ready <keyword id="20041791" type="General" weightage="20" keywordseo="bpm" source="keywords">BPM</keyword> Industry in India,” hosted by Business Insider India. While AI has the potential to streamline many business processes, industry experts caution against relying solely on AI. Human intervention is still required, which means skilling new talent and upskilling existing talent is vital to leveraging AI effectively. Investing in these areas allows organisations to better meet evolving demands with a workforce that complements AI-driven solutions. <div type="Youtube" id="3ewvUSYfG1M" title="Al-Ready BPM Industry In India" thumbUrl="https://i.ytimg.com/vi/3ewvUSYfG1M/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=3ewvUSYfG1M]]></url></div> <h2>Why human intervention is critical</h2>As the demand for AI and generative AI models is rising among BPM clients, particularly for model-building capabilities, so is the demand for AI-skilled workers. “For us to have the right intervention for human-in-the-loop processes, it’s essential that we develop an AI-enabled workforce,” Mythily Ramesh, Co-Founder and Director of NextWealth told Business Insider. Ramesh shared industry projections that estimate AI could create up to 100 million jobs globally. AI models generate predictions based on historical data and probabilities, but human oversight is essential to ensure accuracy and minimise errors. “AI as an enabler or augmenting the human workforce is probably the way this industry is going to progress. With the risks that are associated with completely leaving AI to replace humans – it’s just not going to work,” explained <keyword id="23987938" type="General" weightage="20" keywordseo="sundar-hariharan" source="keywords">Sundar Hariharan</keyword>, Vice President of Digital Business Experience Centre at Alorica IQ. <h2>Shaping the future of AI And BPMs with collaborative intelligence</h2>The panellists emphasised a significant challenge in AI model development: only 1 in every 100 models actually makes it to deployment. For all of these models, a rigorous process of training and fine-tuning is required, using either synthetic or human-generated data. This process is not just about feeding the model data but also validating the output to ensure it functions as intended. “There’s a lot of requirements for data training and validation,” said Ramesh, highlighting the substantial demand for data annotators, labelers, and specialists in areas like image and video annotation. These roles are crucial for ensuring that the data used to train models is of high quality and accurately reflects the task at hand. However, the skills required for these roles go beyond traditional data labelling. The workforce must move away from rigid Standard Operating Procedures (SOPs) and understand the context in which data is being used. This requires employees to make judgement calls that help refine the model’s performance, adapting to continuously evolving instruction sets. "It’s collaborative intelligence—human intelligence combined with artificial intelligence," Ramesh noted. To address this evolving demand for skills, companies like Wipro have implemented comprehensive upskilling programs. These programs are tailored to different business segments, from basic AI awareness (AI 101) to advanced training for developers, engineers, and architects—those working directly on the models. Atreya shared that over 10,000 developers and engineers at Wipro are currently receiving training across these programs. <h2>AI’s role in transforming BPM operations</h2>According to Suhrid Brahma, the Chief Technology Officer at WNS Global Systems, the core model of the BPM industry is changing. “There is a shift from focus on people, to outcomes and value-add as an industry,” he said. He outlines a three-part strategy for the upgrades needed in AI-driven BPM, beginning with AI in operations. By building an AI-skilled workforce and maintaining a ‘human in the loop’ approach, organisations can maximise the value of AI while keeping essential human oversight. The second area is AI for applications and platforms. Each BPM deal has a technological component, which varies from client to client, but AI should be woven directly into these enterprise systems to ensure seamless functionality. Lastly, he highlights AI’s evolving role in analytics, shifting from retrospective analysis to providing predictive insights that drive proactive decision-making across the organisation. “This whole industry will grow for sure. But the nature of work we do, the kind of value-add we do for clients and the kind of outcomes we deliver as an industry, will definitely change,” Brahma noted. <h2>Navigating an evolving AI landscape in BPM</h2>As AI continues to reshape BPM, the nature of customer needs is also changing. With AI, businesses now have the potential to drive end-to-end process automation, where one part of the process is handled by the BPM organisation and the other by the client, fostering a more collaborative approach to AI adoption. Hariharan noted that BPM providers are transitioning into more tech-driven organisations, as AI increasingly becomes a key enabler of business processes. However, the road to AI integration is not without challenges. Atreya pointed out several challenges like siloed technology limiting the potential of AI to drive meaningful results. Atreya highlighted that siloed technology often limits the ability of AI to drive results. Organisations must assess whether they are AI-ready, with a mature data infrastructure and robust data availability. According to her, the most pressing concern remains ensuring ethical and responsible AI deployment, as new regulations continue to evolve. For sectors like BFSI, tech integration is already advanced, but industries like logistics have an opportunity to leapfrog by integrating systems and running processes end-to-end with AI, according to Brahma. He emphasised the importance of data integration to fully benefit from AI. Looking ahead, the panellists see huge opportunities in sectors like e-commerce and automotive, where AI-driven services are changing the landscape. The key to success will be collaboration, integration, and a well-trained workforce prepared to drive this AI-enabled transformation. This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the third session <a href="https://youtu.be/3ewvUSYfG1M">here</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand. For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. "The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week. The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310.

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

<keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> reported its <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> <keyword id="20423741" type="General" weightage="20" keywordseo="monthly-sales" source="keywords">monthly sales</keyword> volume at 206,434 units. Total sales in the month include <keyword id="20025843" type="General" weightage="20" keywordseo="domestic-sales" source="keywords">domestic sales</keyword> of 163,130 units, sales to other original equipment manufacturers (OEMs) of 10,136 units and the highest-ever monthly <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> of 33,168 units. Festival season and on top of that the deep discounts offered by various automakers have invariably helped dealers sell more cars this October. Here is a table listing out the <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> India car-wise sales figures in October: In October, total sales, domestic plus exports combined, were 3.6 per cent higher year-on-year. So far in 2024-25 - April to October, the total sales were 1.64 per cent higher year-on-year. Coming to exports, the shipments in October and April-October were 51 per cent and 17 per cent, higher year-on-year, respectively. In the fiscal year 2023-24, the company exported over 2.8 lakh units to more than 100 countries, holding a commanding 42 per cent share in the country's passenger vehicle exports. In other news, Maruti Suzuki India recently reached a significant milestone, with ist <keyword id="21943254" type="General" weightage="20" keywordseo="Manesar-facility" source="keywords">Manesar facility</keyword> crossing the 1 crore cumulative production mark. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone. The facility, which commenced operations in October 2006, is spread over 600 acres and manufactures a range of models, including Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso, and Celerio. These vehicles serve both domestic and international markets, with exports reaching regions such as Latin America, the Middle East, Africa, and neighboring Asian countries. Since its inception, Maruti Suzuki has produced over 3.1 crore vehicles, reinforcing its leadership in the Indian <keyword id="19945567" type="General" weightage="20" keywordseo="automotive-industry" source="keywords">automotive industry</keyword>. Maruti Suzuki India Limited also started the export of its acclaimed 'Made-in-India' SUV, the Fronx.

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

The one-hour <keyword id="23618998" type="General" weightage="100" keywordseo="Muhurat-trading" source="keywords">muhurat trading</keyword> session, which marks <keyword id="20963892" type="General" weightage="20" keywordseo="Diwali-2024" source="keywords">Diwali 2024</keyword> and the onset of Hindu Samvat 2081 on both NSE and BSE, is set to commence at 6 pm today and will conclude at 7 pm. Generally, investors and traders make symbolic stock buys during this hour-long session, since it is believed that purchases made during this time herald wealth and prosperity for one’s investments for the year to come. If you are looking for <keyword id="19910146" type="General" weightage="20" keywordseo="stock-recommendations" source="keywords">stock recommendations</keyword> to add to your portfolio, here are a few value picks by SAMCO and Kotak Securities you can consider: <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> Ltd Holding period: 1 year Last Traded Price: Rs 1,734.30 Per the firm, “The bank has maintained a robust 10-year profit CAGR of 21.74%, operating with a NIM (net interest margin) of 3.5% and a low net NPA (non-performing assets) of 0.3%. Advances and deposits have shown steady growth. Currently, the stock trades below its 10-year average price-to-book value and at a price-to-earnings ratio of 19, offering a favorable risk-reward profile with a substantial downside buffer”. <keyword id="22086440" type="General" weightage="20" keywordseo="Vindhya-Telelinks" source="keywords" meta.keywordsubtype="org" meta.entityname="Vindhya Telelinks" meta.hostid="261" meta.entityid="Vindhya Telelinks">Vindhya Telelinks</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 1,992.55 SAMCO notes that this key cable manufacturing, which is a joint venture between Universal Cables Limited and Madhya Pradesh State Industrial Development Corporation, has shown robust growth over the last 5 years, nearly doubling revenues with a 14.3% CAGR. The company holds significant investments in Birla Cable Ltd, Birla Corporation Ltd, and Universal Cable Ltd, totaling Rs 3,618 crore—surpassing its market capitalization of Rs 2,545 crore. This solid investment base underscores Vindhya Telelinks’ strong fundamentals and financial potential. <keyword id="23763358" type="General" weightage="20" keywordseo="Ramco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Ramco Industries" meta.hostid="261" meta.entityid="Ramco Industries">Ramco Industries</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 244.89 SAMCO observes that over the past decade, sales grew at a 7% CAGR, while the share price rose at a 14% CAGR. Known for its financial stability, Ramco Industries boasts a low debt-equity ratio of 0.07 and has consistently paid dividends since FY17, currently yielding 0.31%. The stock’s attractive price-to-book multiple of 0.5 offers a solid margin of safety, highlighting its investment appeal. <keyword id="22786675" type="General" weightage="20" keywordseo="Gravita-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Gravita India" meta.hostid="261" meta.entityid="Gravita India">Gravita India</keyword> Holding Period: 12 months Last Traded Price: Rs 2,119 Kotak explains that Gravita India is the market leader in India’s emerging recycling industry with a focus on lead recycling. Gravita India is increasing its recycling capacity by a massive 72% to 500 ktpa by FY27E. “We expect the company’s earnings per share to grow by 31.8% in FY25E &amp; 31.6% in FY26E. We also expect an upside of 15% or more on this stock over the next 12 months”, adds Kotak’s note. <keyword id="23763359" type="General" weightage="20" keywordseo="S-H-Kelkar" source="keywords" meta.keywordsubtype="org" meta.entityname="S H Kelkar" meta.hostid="261" meta.entityid="S H Kelkar">S H Kelkar</keyword> and Company (SHKL) Holding Period: 12 months Last Traded Price: Rs 289.90 The company is a flavors &amp; fragrances (F&amp;F) supplier and has started to make inroads into the global market. SHK is well-placed to drive double-digit revenue growth. The company is a small but emerging contender in the vast F&amp;F market, with potential for margin expansion—higher-margin geographies &amp; operating leverage—allowing for over 15% return upside in the next 12 months. Kotak Securities further notes that FY25 will likely see more broad-based growth across sectors. However, the OMCs (oil marketing companies) may likely drag down overall profits. Most sectors and stocks are quite overvalued, with the degree of overvaluation ranging from: (1) low for most large-cap consumers, IT services, and pharmaceuticals (2) medium in the investment space (3) high in the case of several low-quality companies. "As the broader market valuations are rich, opportunities arising from market correction can be used to add quality stocks (with attractive valuations) from a long-term investment perspective," explains the research firm's note. SAMCO further advises adding a little glitter to your portfolio using GoldBees and SilverBees ETFs since there are recessionary fears in the US and geopolitical tensions across the world. Even central bankers like RBI have been adding gold to their vaults like never before. At present, markets are looking to secure their return on capital rather than seeking a return on capital. "Thus all of these make a strong case to add gold and silver to the portfolio. They will give stability to your portfolio this Samvat," adds SAMCO's note.

Muhurat trading 2024: 5 stock picks you can consider this time around

The United States has invested significantly in expanding its strategic partnership with <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> and is pursuing a robust agenda to deepen the bilateral cooperation, US Deputy Secretary of State Kurt <keyword id="20428643" type="General" weightage="20" keywordseo="campbell" source="keywords">Campbell</keyword> has said. Addressing the ongoing India-US Defence Acceleration Ecosystem (INDUS-X) Summit in California on Monday, Campbell said successive administrations in Washington and New Delhi have invested time and political capital to bring the partnership to greater heights. "But in the last year, I like to say, our partnership has reached 'escape velocity'," he said. "The United States has invested significantly in expanding our strategic partnership with India, and we are pursuing a robust agenda to deepen cooperation for the rest of the year - not only diplomatically, but also through iCET ( initiative on Critical and Emerging Technology)," Campbell said. The third edition of the two-day INDUS-X summit began on Monday. It is organised by the <keyword id="20263494" type="General" weightage="20" keywordseo="us-india-strategic-and-partnership-forum" source="keywords">US India Strategic and Partnership Forum</keyword> (<keyword id="20252677" type="General" weightage="20" keywordseo="usispf" source="keywords">USISPF</keyword>) at Stanford University in California. "Our defence establishments, research institutions, private industry, and startups possess a deep bench of talent and mutual thirst for innovation, which is why INDUS-X was designed to create the necessary ecosystem and partnerships for new ideas, research, and development to flourish," the top American diplomat said. Asserting that the two countries are "more closely aligned than ever before" today, Campbell said the US and India have pursued an "ambitious agenda" of summits, joint challenges, and exchanges in over a year since the launch of the INDUS-X. INDUS-X, which stands for enhanced strategic and defence partnership between India and the US, was launched on June 21 last year by the <keyword id="20331010" type="General" weightage="20" keywordseo="us-department-of-defence" source="keywords">US Department of Defence</keyword> and the <keyword id="22082092" type="General" weightage="20" keywordseo="indian-ministry-of-defence" source="keywords">Indian Ministry of Defence</keyword> during Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>'s state visit to Washington, DC. "I expect these efforts will continue, given the deep bonds that tie our countries together and the strategic challenges we both face. INDUS-X is now, and will be, a cornerstone of our continuing efforts to advance the US-India Initiative on Critical and Emerging Technology - iCET," Campbell said. The iCET was launched by Prime Minister Modi and US President Joe Biden on the sidelines of the QUAD summit in Tokyo on May 24, 2022. Observing that technological leadership is increasingly at the heart of the strategic competition, Campbell said it is the great differentiator in the US foreign policy approach. "And India is in a very small group of countries with whom we work most intimately on tech. The iCET, which places technology at the very heart of the US-India partnership, has greatly accelerated our strategic cooperation," he said. Talking about the second iCET meeting that took place between National Security Adviser Ajit Doval and his US counterpart Jake Sullivan in June, Cambell said it "showed the immense progress we are making across a range of sectors including space, semiconductors, advanced telecommunications, artificial intelligence, quantum, biotechnology, and clean energy". "Deepening defence cooperation is also a key pillar of iCET," said the top American diplomat. "Our work together driving innovation and developing cutting-edge technologies will help us maintain a critical advantage for our armed forces. We've taken unprecedented steps to increase operational coordination, information sharing, and defence industrial cooperation, including co-production," he said. "In fact, we've authorised an unprecedented level of technology transfer as part of the GE engine co-production arrangement, and our two governments have just finalised a Security of Supply Arrangement to reinforce our supply chain resilience," he said. Last year, GE Aerospace and <keyword id="19998363" type="General" weightage="20" keywordseo="hindustan-aeronautics-limited" source="keywords">Hindustan Aeronautics Limited</keyword> (HAL) inked a pact to jointly produce fighter jet engines for the <keyword id="19992067" type="General" weightage="20" keywordseo="indian-air-force" source="keywords">Indian Air Force</keyword>'s Light Combat Aircraft (LCA)-Mk-II - Tejas. "Under INDUS-X, the US and Indian governments have also announced: awards of USD 1.2 million in seed funding to ten US and Indian companies under Joint IMPACT 1.0 Challenges; our intent to launch two additional joint challenges in other domains, including space; and the launch of a INDUSWERX Testing Consortium of industry, academia, and nonprofit organisations across the US and India to promote our companies' access to testing and experimentation facilities," Campbell said.

US invested significantly in expanding strategic partnership with India: Kurt Campbell

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. SEE ALSO:<a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank">Truecaller can now detect if the caller is using AI – How to use it to prevent AI call scams</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank">India’s T20 World Cup team, matches and everything you need to know</a>

Reliance, Tata on TIME's list of world's most influential companies

New Delhi: <keyword id="20081557" type="General" weightage="20" keywordseo="auto-industry" source="keywords">Auto industry</keyword> players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. <keyword id="20034542" type="General" weightage="100" keywordseo="Kia-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Kia India" meta.hostid="153" meta.entityid="Kia India">Kia India</keyword> National Head of Sales and Marketing Hardeep Singh Brar told PTI that the last 3-4 months were not good for the industry as sales declined compared to the same period last year. "With pent-up demand of the last few months there and government investment starting to flow in, we feel things should start improving from here onwards," he noted. Brar said the booking momentum in September was good, which is a strong indication for October. "And this time, all festivals are in October..we expect about 5-10 per cent sales growth during the period as compared to last year," he added. Brar said that in the January-April period, the passenger vehicle industry witnessed a growth of 7 per cent, but in May-September, there was a dip of about 2-3 per cent, leading to the buildup of inventory. <keyword id="20505895" type="General" weightage="20" keywordseo="Nissan-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Nissan Motor" meta.hostid="153" meta.entityid="Nissan Motor">Nissan Motor</keyword> India Managing Director Saurabh Vatsa said the entire industry is looking at the festive season to bring some cheer after witnessing tough three months. "I think it has been a challenging period. The festive period will define the quarter, and the third quarter will define what happens in the remaining part of the year," he said. Everybody is looking forward to the festive seasons, especially from the industry, he added. <keyword id="19967765" type="General" weightage="20" keywordseo="Toyota-Kirloskar-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota Kirloskar Motor" meta.hostid="153" meta.entityid="Toyota Kirloskar Motor">Toyota Kirloskar Motor</keyword> Vice President, Sales-Service-Used Car Business, Sabari Manohar said the company is witnessing enhanced footfalls and enquiries. "Key to meeting this rising demand has been our strategic operational improvements, such as the introduction of a third shift. This has significantly optimised our supply chain, particularly for high-demand models like the Urban Cruiser HyRyder, where waiting periods have been reduced," he said. Additionally, there is a clear shift in sentiment, with an increasing embrace of eco-friendly technologies, not only in urban areas but also in Tier II and Tier III markets, Manohar said. <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="153" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword> India Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company is trying to increase its sales by bringing in some limited edition models. He noted that during Ganesh Chaturthi and Janmashtami, the company witnessed good traction in sales and has been able to generate volumes as per the business requirements. <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> Passenger Vehicles MD Shailesh Chandra said in its monthly sales statement that registrations have picked up pace towards the end of the month (September), which augurs well for the festive period ahead. "We remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network," he added.

Carmakers expect festive period to bring in robust sales, improve overall buyer sentiment

<keyword id="19994372" type="General" weightage="20" keywordseo="maruti-suzuki-india-limited" source="keywords">Maruti Suzuki India Limited</keyword> (MSIL) has introduced a new variant of its popular hatchback, the <keyword id="23141056" type="General" weightage="20" keywordseo="epic-new-swift" source="Orion">Epic New Swift</keyword>, offering an S-CNG model that promises to set a new benchmark in fuel efficiency. With a claimed mileage of 32.85 km per kg, this variant promises to be the most fuel-efficient premium hatchback in its segment, according to the automaker. <h2><keyword id="19909974" type="General" weightage="100" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>'s Epic New <keyword id="23141055" type="General" weightage="20" keywordseo="swift-s-cng" source="keywords">Swift S-CNG</keyword> launched</h2>The launch of the Swift S-CNG marks another step in Maruti Suzuki's commitment to providing greener mobility solutions. As the demand for eco-friendly vehicles continues to rise, the automaker has expanded its Swift S-CNG lineup to three variants: V, V(O), and Z, offering customers more choices. Each variant comes equipped with a 5-speed manual transmission, and their ex-showroom prices are set at Rs 819,500, Rs 846,500, and Rs 919,500, respectively. Maruti Suzuki has been at the forefront of the CNG vehicle segment in India since 2010. Over the years, it has sold more than 2 million S-CNG vehicles, making it a leader in the industry. Partho Banerjee, Senior Executive Officer of Marketing and Sales at Maruti Suzuki India Limited, talked about the company’s achievements and said, “Our S-CNG technology has democratized green mobility solutions, and we are proud to offer the widest range of 14 S-CNG powered vehicles across all body styles.” The automaker’s CNG vehicle sales have witnessed significant growth, with a 46.8% increase in the passenger vehicle category during the 2023-24 financial year compared to the previous year. Additionally, since 2010, Maruti Suzuki has maintained a compound annual growth rate (CAGR) of around 28% in its CNG sales, underlining the strong demand for eco-friendly vehicles in India. <h2>Swift S-CNG features </h2> The new Swift S-CNG not only promises to offer best-in-segment fuel efficiency but also packs a range of features designed to enhance the driving experience. It comes equipped with six airbags for enhanced safety, automatic climate control, a rear AC vent, and a wireless charger. The vehicle also boasts a 17.78 cm (7-inch) Smart Play Pro infotainment system with <keyword id="20518583" type="General" weightage="20" keywordseo="suzuki-connect" source="keywords">Suzuki Connect</keyword>, offering a connected and feature-rich driving experience. Maruti Suzuki also offers the Swift S-CNG through its subscription program, Maruti Suzuki Subscribe, at a monthly fee starting from Rs 21,628. This option provides a hassle-free way to drive a new car without the need for outright ownership. The subscription fee covers the cost of registration, service and maintenance, insurance, and roadside assistance, allowing customers to enjoy the benefits of driving a new car with minimal worries. (With ANI inputs)

Maruti Suzuki's Epic New Swift S-CNG launched, price starts from Rs 8,19,500

<ul><li>One mainboard IPO is scheduled for the third week of July 2024.</li><li><keyword id="22414300" type="General" weightage="20" keywordseo="Sanstar-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Sanstar Limited" meta.hostid="261" meta.entityid="Sanstar Limited">Sanstar Limited</keyword> is looking to raise ₹510.15 crore from the <keyword id="20476805" type="General" weightage="20" keywordseo="primary-market" source="keywords">primary market</keyword>.</li><li>Three SME <keyword id="20020566" type="General" weightage="20" keywordseo="IPOs" source="keywords">IPOs</keyword> are also scheduled this week in the primary market.</li></ul> After a week filled with small and medium enterprise (SME) segment initial public offerings (IPOs), the third week of July will be relatively quiet. Apart from one mainboard IPO, three SME IPOs will hit the street this week. Sanstar Limited is the only company from the mainboard segment, while companies like <keyword id="22414301" type="General" weightage="20" keywordseo="Tunwal-E-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tunwal E-Motors" meta.hostid="261" meta.entityid="Tunwal E-Motors">Tunwal E-Motors</keyword>, <keyword id="22395216" type="General" weightage="20" keywordseo="Kataria-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Kataria Industries" meta.hostid="261" meta.entityid="Kataria Industries">Kataria Industries</keyword> and <keyword id="22414302" type="General" weightage="20" keywordseo="Macobs-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="Macobs Technologies" meta.hostid="261" meta.entityid="Macobs Technologies">Macobs Technologies</keyword> are from the SME segment. <h2>IPOs this week</h2> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue size </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Start date </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">End date </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tunwal E-Motors </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹115.64 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18-Jul-24 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kataria Industries </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹54.58 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19-Jul-24 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macobs Technologies </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19.46 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19-Jul-24 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanstar Limited </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹510.15 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23-Jul-24 </td></tr></tbody></table> <h2>Sanstar Limited</h2>Sanstar Limited is the only IPO from the mainboard segment this week. The company, which manufactures plant-based products and ingredients for food, pet food and more is looking to raise ₹510.15 crore from the primary market. This includes a fresh issue of ₹397.10 crore and an offer for sale (OFS) component of ₹113.05 crore. The IPO will open on Friday, July 19 and close on July 23. <h2>Tunwal E-Motors</h2>The Tunwal E-Motors SME IPO is currently live and will close on July 18. The electric vehicle (EV) manufacturing company is involved in designing, manufacturing and distributing electric two-wheelers. The company is looking to raise ₹115.64 crore from the market, which includes a fresh issue of ₹81.72 crore and an OFS component of ₹33.93 crore. <h2>Kataria Industries</h2>The Kataria Industries SME IPO will open on Tuesday, July 16 and close on July 19. The company manufactures LRPC strands, steel wires, sheathing ducts, aluminium conductors and more. The company is looking to raise ₹54.58 crore from the market, which is completely a fresh issue and there is no OFS component. <h2>Macobs Technologies</h2>The third SME IPO this week is of Macobs Technologies, which produces products for male grooming and sells them online. The IPO will open on Tuesday, July 16 and close on July 19. The company is looking to raise ₹19.46 crore from the market, which is completely a fresh issue and there is no OFS component. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-biggest-ipos-in-indias-history-lic-to-paytm-companies-that-have-raised-the-most-funds/articleshow/111690863.cms">The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds</a> <a href="https://www.businessinsider.in/business/auto/news/its-raining-discounts-maruti-suzuki-hyundai-tata-motors-and-others-offer-discounts-on-cars-as-sales-slowdown/articleshow/111688501.cms">It’s raining discounts – Maruti Suzuki, Hyundai, Tata Motors and others offer discounts on cars as sales slowdown</a> <a href="https://www.businessinsider.in/tech/news/global-pc-shipments-report-growth-for-the-second-quarter-up-by-3-in-q2-2024/articleshow/111656566.cms">Global PC shipments report growth for the second quarter, up by 3% in Q2 2024</a>

IPOs this week – four IPOs to hit the street this week

<ul class="summary-list"><li>A new law proposed by Germany will limit which solar producers are reimbursed when energy prices fall.</li><li>A renewable supply glut has caused prices to often fall into negative territory.</li></ul>An overload of solar power in Germany has piled up costs on the government, prompting a new draft law that would limit subsidies for the country's industry players, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-28/germany-to-cut-some-solar-farms-off-subsidies-amid-oversupply">Bloomberg</a> reported.The outlet cited fresh plans to restrict which producers will receive subsidies when energy falls below a fixed price. Given how often wholesale power prices have dropped into negative territory, this has been an issue for the state.The government has previously estimated that German renewable subsidies would <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-29/germany-s-climate-transition-costs-to-spiral-as-subsidies-double">reach $21.6 billion this year</a>.That's as the country's solar buildout has brought so much renewable energy online that wholesale power prices have frequently fallen below zero. This trend is especially evident during the <a target="_blank" href="https://markets.businessinsider.com/news/commodities/solar-panel-supply-german-electricity-prices-negative-renewable-demand-green-2024-5">sunny summer months</a> and has been <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-29/germany-s-climate-transition-costs-to-spiral-as-subsidies-double">ongoing throughout Europe</a>.However, since German producers are guaranteed to receive a minimum strike price, the government is responsible for covering the difference in prices. This so-called "feed-in tariff" reimburses renewable companies for contributing to the public grid.The new draft law seeks to limit which solar producers are required to sell their output to electric exchanges and, by extent, who is eligible for feed-in tariffs. Currently, plants with 100 kilowatts of capacity are required to participate. By the start of 2027, this will drop to 75 kilowatts.Also implemented is an earlier law that allows the government to withhold payments for mid-sized and large solar projects, anytime wholesale market prices turn negative, Bloomberg said.This could trigger uncertainty in a market that has ballooned since Russia's invasion of Ukraine, an event that caused Europe to search for alternatives to Moscow's energy supply.Meanwhile, analysts have noted this year that supplementary investments in <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/solar-panel-supply-german-electricity-prices-negative-renewable-demand-green-2024-5">battery technology and the electric grid</a> are needed if renewable energy is to escape negative pricing.

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