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Chennai, Apr 30 () Start-ups backed by <keyword id="6356755" type="ORGANIZATION" weightage="20" keywordseo="iit-madras">IIT Madras</keyword> have commenced supply of personal protective equipment (PPE) to health care workers and medical professionals, who are on the frontline in the fight against COVID-19 in the state. The start-ups have developed PPEs such as face shieldsand incubation boxes from 3D printers and stationery materials, the institute said in a release. Initial batches have been supplied in Chennai, while some were in the process of being scaled up towards mass production for use in hospitals and clinics across the country. The 3D printed face shields and incubation boxes were developed by Fabheads Automation, an IIT Madras incubated start-up, it said. Axis Defence Labs, promoted by an IIT Madras student has developed face shields. Along with another automotive start-up 'CY4', AxisDefence Labs plans to distribute the face-shields across the country. "We are very proud of our startups who are working on arange of products that are vital to fight against COVID19..IITM In cubation Cell continues to assist its startups through these challenging times," CEO of IIT Madras Incubation Cell,Tamaswati Ghosh said. The 3D printed face shields weighing less than 50 grams developed by Fabheads Automation uses a flexible plastic frameto fit individuals without requirement of elastic bands andcan be worn for long hours. CEO of Fabheads Automation, Dhinesh Kanagaraj said, "wehave already supplied a few hundred face shields to various users such as police personnel and hospitals.. we are gettingready to produce 5,000 pieces per day." VIJROH ROH

IIT Madras backed start-ups supply PPEs and face mask to healthcare workers

New Delhi, Apr 27 () An IIT-incubated start-up has developed a 'smart bin system' to prevent the spread of COVID-19 through waste generated at hospitals, clinics, public places and quarantine zones. Called 'AirBin', the system developed by Indian Institute of Technology (IIT)-Madras enables remote monitoring of waste accumulation levels through smart phone. The system can be retrofitted on to existing garbage bins on nearby poles, walls or the bin lids.According to start-up "Antariksh", the digital waste management system can generate alerts to sanitation teams at regular intervals on fill levels and on-demand clearance requests from end-users for faster disposal of contagious waste."While we are dealing with the spread of COVID-19, hazardous waste is being generated in hospitals, quarantine zones or red zone areas within cities. They are potential sources of coronavirus and can cause further spread within the locality. This makes timely clean-up of bins vital along with other best practices for disinfection to prevent further spread of COVID-19," said Mahek Mahendra Shah, a Mechanical Engineering graduate from the institute."The objective is to help rural and urban local bodies clear every bin before it overflows and accelerate sustainability. The product is likely to hit market in five months. We will supply first 200 AirBin devices across India in next few months with long-term plans to deliver 1,00,000 units for 100 Smart Cities in India," he added.The team claims that only 28 per cent of the waste generated in India is recycled and various studies found that the waste generated in the country was doubling every five years. "The system will enable clearing waste bins before they overflow. Waste management processes will play a key role in containing contagion at public or private spaces. From waste collection, transport, segregation, disposal to recycling, every process needs to be overhauled quickly and technology can play a vital role in this transformation. Timely cleaning of bins will be a key priority while faced with shortage of labour," Shah said."Remote waste levels monitoring, smarter pickups, skill development with good protection gear for sanitation teams, educating citizens on best sanitation practices, will be among must follow practices in coming months," he added. The death toll due to COVID-19 rose to 872 and the number of cases climbed to 27,892 in the country on Monday, according to the Union Health Ministry.The number of active COVID-19 cases stood at 20,835 while 6,184 people were cured and discharged, and one patient has migrated, the ministry said.The total number of cases include 111 foreign nationals. GJS SMN

IIT Madras start-up develops smart dustbin system to prevent COVID-19 spread

In its bid to build a solar India, <keyword id="6356755" type="COMPANY" weightage="20" keywordseo="IIT-Madras">IIT Madras</keyword> announced recently that it will be developing an efficient, cheap and clean way of power supply to villages using microgrids. For this, the institute has signed a MoU with power and automation technology company ABB India under government’s <keyword id="3873307" type="UNKNOWN" weightage="20" keywordseo="uchchatar-avishkar-yojana">Uchchatar Avishkar Yojana</keyword> scheme. 
 
They will be looking at developing a power management system to optimize the operation of multiple micro grids, with or without grid connection, to transmit electricity reliably to small villages. This system will also enable the integration of individual solar PV rooftops to the micro grid of a village. Such grid clusters are expected to have the capability of generating and using renewable energy locally from one kilowatt to a few hundred kilowatts. This inter-connection of micro grids with the existing distribution system will also help reduce outages and cut electricity costs. 
 
As of now, the government is looking at a generation capacity of 40 GW in the next five years through grid-connected solar photovoltaic rooftops and small scale solar PV plants. 
 
The project scope includes micro grids of 20 to 100 kW capacity equipped with battery storage. Detailed studies and simulation of the various system components along with related control and optimization logic, protection criteria, monitoring and communication will also be undertaken. 
 
"While India has set an ambitious target for solar energy generation, IIT Madras has been at the forefront in developing decentralised energy-efficient solar PV micro grid solutions tailored to meet India's urban, rural and off-grid power requirements," said Bhaskar Ramamurthi, Director of IIT Madras. 
 Meanwhile, ABB India's managing director <keyword id="222145" type="PERSON" weightage="20" keywordseo="Sanjeev-Sharma">Sanjeev Sharma</keyword> said - "In a country as huge and diverse as India, it is important to design models of integration with power management and load balancing for proven micro grids technology with the existing grid infrastructure." 
 
Interestingly, ABB’s Access to Electricity social initiative in India has already demonstrated significant impact in the country. 
 The company has brought <keyword id="70990" type="UNKNOWN" weightage="20" keywordseo="Solar-power">solar power</keyword> to 1,200 households in the Rajasthan desert and to over 100 households in the world’s largest delta region of the Sunderbans. This project follows two ongoing CSR projects with IIT-M; one for the design, installation and commissioning of a micro grid able to supply 50 kW power to a rural village, the other one to help establish and research the Center of Battery Engineering at IIT-M. 
 
ABB recently announced the setting up of India’s first solar-powered micro grid to provide uninterrupted power supply to its factories in Vadodara. 
 
With the slow but steady work by the institute, industry and the government, it seems India is not too far away from achieving its solar dream.

Building a Solar India: IIT Madras develops microgrid models for green power supply to light up remotest areas

Now, you may be able to fold a two-storeyed house made out of metal frames, thanks to eight <keyword id="666801" type="UNKNOWN" weightage="20" keywordseo="civil-engineering-students">civil engineering students</keyword> from IIT-Madras. 
 
This bunch of innovative students have developed a prototype of a portable house that can prove immensely useful at times of natural disasters. 
 Shreeram, a third year civil engineering student who is a part of this stellar innovation, said, “Hundreds of people were displaced and had no shelter after the floods in the city last year. It was then we decided to come up a <keyword id="3282781" type="UNKNOWN" weightage="20" keywordseo="Foldable-house">foldable house</keyword>. Wooden panels can be used as walls. Any material can be used.” 
 
52-feet in length and breadth and close to 40-feet tall, the walls of this are interchangeable. Sounds unreal? 
 
Here's more: You can unfold its metal frames and fix panels, which will act as the walls of the house. 
 
What's more - there are provisions for electricity and water supply as well! 
 
Rooms can be dismantled and folded, but the toilet (13-metre) is a separate box which gets fitted to the one end of the main house’s frame. 
 
While, the project is still in the prototype stage, the students are looking to set up a startup to make this a reality. They are hoping to sell each unit for Rs 3 lakh when the house is ready for commercial use.

You can soon own a foldable house that can be transported anywhere in minutes, thanks to IIT Madras students

You may not be victim to any more power cuts and could even halve your <keyword id="100242" type="UNKNOWN" weightage="20" keywordseo="Electricity-bill">electricity bill</keyword>, thanks to <keyword id="6356755" type="COMPANY" weightage="20" keywordseo="IIT-Madras">IIT Madras</keyword>' new solar rooftop installation. It's both smaller and cheaper than present installations. Priced at Rs 20,000, it can run tubelights, fans, charging points and a TV. If you go for a higher model, it will be able to run all essential load except washing machine and air conditioners. As a part of <keyword id="6354502" type="ORGANIZATION" weightage="20" keywordseo="CSR">CSR</keyword> and government sponsorship, the rooftop plant has been installed in 15,000 rural homes. It was successful in facing a three-day power cut during Chennai floods in December 2015. Now, to install a rooftop of the present technology, a middle-class family would require 1kWh solar rooftop and storage costing about Rs 1.2 lakh and a space of about 100 sq ft. On Thursday, the <keyword id="70990" type="ORGANIZATION" weightage="20" keywordseo="Solar-power">solar power</keyword> system was recognised by The Institute of Electrical and Electronics Engineers (IEEE), New York, as 'Technology of the year 2017 in the service of humanity'. The solar inverterless DC system is cost and energy-efficient as unlike other solar power systems, it does not convert direct current produced by a solar installation into alternate current. The system comes with a full DC wiring. Each time a unit of AC is converted into DC, there is a 15 per cent loss of energy. A DC system is 2.5 times more efficient than the AC system and hence requires lesser space. While a 125W rooftop solar, a 0.5kWh lead acid DC battery, and few DC electrical appliances will cost approximately Rs 20,000, a basic 500W solar power and 3 kWh lead acid storage will cost a bit over Rs 40,000 without taxes. It is believed that a solar-DC microgrid can help break the logjam that the domestic power supply currently faces in India. Even as its a great start, data with REC shows that about four crore households are yet to be electrified in India.

This made-in-IIT solar plant is illuminating thousands of rural homes in India

<ul><li>The global oil price crashing to a new low has cost Indian fresh graduates their jobs. </li><li>Energy major <keyword id="161205" type="COMPANY" weightage="20" keywordseo="Schlumberger">Schlumberger</keyword> revoked the job offers extended to the Indian Institute of Technology (<keyword id="6354859" type="UNKNOWN" weightage="20" keywordseo="IIt">IIT</keyword>) graduates. </li><li>Two of the selected graduates from IIT Kanpur and Madras have now been offered a similar role — but at a lower salary. </li><li>The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. </li><li>This comes after the company announced its first quarter results for FY21 and said that it expects at least a 15% drop in customer expenditure globally. </li></ul>The global <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">oil price crashing</a> to a new low has cost Indian graduates their jobs. Impacted by the decline in oil demand due to <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> lockdown, energy major Schlumberger revoked job offers extended to the Indian Institute of Technology (IIT) graduates. The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. The company had given job offers to candidates at least five IITs. On April 6, Schlumberger told IITs that it will reduce the intake of new campus hires, withdrawing a few internships and job offers. “We will personally communicate our decision to each student who is affected by this decision,” Indian Express <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">reported</a> citing the letter by Gautam Reddy, MD, India and Bangladesh at Schlumberger. IIT graduates bagged ‘above-average salary packages’ this placement season According to the report, two students at IIT Delhi and Bombay have lost their jobs at Schlumberger. While two other selected graduates from IIT Kanpur and Madras have now been offered similar roles — but at lower salaries. Given the current situation, it does not help that most of the IIT graduates bagged ‘above-average salary packages’ this placement season. IIT Kharagpur students also bagged a few offers from Schlumberger. “As on date, none of the offers were revoked. That was a generic email. We haven’t heard back from them,” Parag Deshpande, vice-chairperson, CDC at IIT-Kharagpur said. “As of now we have withdrawn the offers. If the business climate changes, we will be the first to reach out to those who have been filtered through the whole recruitment process,” Reddy added. ‘We have to take care of our employees first’ Reddy also <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">said</a> that employees across the top management have already taken a pay cut due to the Covid-19 crisis. “We have a longstanding relationship with the IITs. I am from IIT-Bombay. Recruiting from IITs is a continuous process for us. At this point in time, when we are doing business restructuring, it’s just not fair to our current employees. We have to take care of them first. It’s as simple as this.” During the <a href="https://seekingalpha.com/article/4338898-schlumberger-earnings-expected-trouble-may-still-be-afoot">first quarter results for FY21</a> the company said that it expects at least a 15% drop in customer expenditure globally and 40% in North America. It clearly indicates how disruption in supply chain, plant shutdowns and dropping revenues forced companies to rethink placements. Gartner rescinds 11 offers at three IITs With this, Schlumberger joins Gartner, the global research advisory firm to withdraw offers given to new hires. Gartner rescinded nearly 11 offers at IIT Delhi, Madras and Kanpur campuses last month. After that, V Ramgopal Rao, director at the Indian Institute of Technology (IIT) Delhi <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">appealed to recruiters</a> saying “a few months of delay may be fine. If at all, these students are capable of getting you out of recession faster than you can imagine.” The changed environment left these young minds stranded with no job at hand. The institutes are now figuring out ways to place the students whose offers have been revoked. They are even reaching out to their alumni network to place students in the less-affected sectors. On the other hand, IIT-Kanpur director Abhay Karandikar also <a href="https://indianexpress.com/article/jobs/iit-iim-job-offers-placement-season-coronavirus-outbreak-lockdown-6346524/">said</a> that the institute will arrange a dedicated placement drive in July-August for those students who have been affected by the withdrawal of offers. See also: <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">Crude oil prices didn’t fall below zero, futures did – and here’s what it means</a> <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">IIT and IIM job offers are fast vanishing and a second placement drive in July might be underway</a> <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a>

Schlumberger revokes IIT job offers, lowers salaries after the massive crude oil price crash

Chennai, May 14 (): The Indian Instituteof Technology-Madras, in association with industry bodies,would undertake a study on the impact of coronavirus in themicro, small and medium enterprises in Tamil Nadu. The state accounts for 6.89 lakh registered enterprisescomprising 15 per cent of the total MSME sector present inthe country. Considering this, the disruption caused by the COVID-19is a major concern, a press release said.  The study would suggest immediate and long-term policyinitiatives to the government for the sector. It is expectedto be completed in three-four weeks, the release said. The study follows the stimulus packages announced by theFinance Ministry to revive the sector.  IIT-M would collaborate with ConsoTree, engaged inresearch and industry development, Tamil Nadu Small and TinyIndustries Association and district-level bodies, includingthe Coimbatore District Small Industries Association.   "The survival of these enterprises are at stake due tothe pandemic. There is an urgent need to undertake researchto analyse the challenges of the enterprises in detail,"  theIIT's associate professor of economics Subash Sasidharan wasquoted as saying in the release.  The phases of lockdown announced by the governmentwitnessed a revenue shortfall of more than 60 per cent forthe sector, creating an unprecedented crisis to the industry.  The MSME sector faced a severe shortage of workingcapital, including delay in payments, shortage of labour anddisruption in supply chain, the release said.  VIJNVG   NVG

IIT-M, industry bodies to study COVID-19 impact on MSMEs

Chennai, May 12 () An automated respiratory assistdevice that will be useful in remote and rural areas whereventilator facilities are not available has been developedjointly by the TVS Group and IIT-Madras among others, thecity-based diversified conglomerate said on Tuesday.    The device, "Sundaram Ventago", would have "a greatimpact" post COVID19 as it can make respiratory support moreaffordable and available to all, a top group company officialsaid.    The device was developed by the TVS Group, the SundaramMedical Foundation and the Indian Institute of Technology,Madras with the aim of providing quality medical support at anaffordable cost particularly in remote and rural areas, therelease said.  It has been designed according to internationally acceptedmedical standards and in collaboration with the Madras MedicalCollege, Kauvery Hospital and with guidance from MIT-Boston.   The device provides respiratory support to patientsthrough a controlled and automated squeezing of a self-inflating bag and includes control of respiratory rate, tidalvolume, pressure parameters among others, the release said.    The first batch comprising 25 pieces of device wascurrently under production at TVS Group firm Brakes India atPadi here, it said adding user training and support will beprovided through a dedicated mobile application.  "TVS Group has leveraged its engineering talent and itsquality first approach to develop an affordable respiratoryassist device," Brakes India deputy managing director SriramViji said.  The Sundaram Ventago is a 'Make in India' product withlocal supply chain, based on proven technology, he said.   Kauvery Hospitals Executive Director S Aravindan said thecountry was importing more than 80 per cent of medicaldevices.  "Cost effective ventilators like this manufactured inIndia will significantly bring down the cost", he said. IIT Madras Electrical Engineering faculty Jayaraj Josephsaid, "we are glad to partner with TVS Group in the design ofthe Sundaram Ventago project".  "It offers greater precision than manual pumping, evenwith 24 plus hours of continuous use. The device is versatileand mobile", he said.  VIJ   VS   VS

TVS Group, IIT-M develop automated respiratory assist device

<ul><li>The global market for lab grown diamonds (<keyword id="10733616" type="General" weightage="80" keywordseo="lgd" source="Orion">LGD</keyword>) that the Indian government has decided to focus on is expected to rise to $5 billion by 2025.</li><li>Besides, the jewellery industry, LGD are used in computer chips, satellites and 5G networks.</li><li>The LGD has vast application in the field of defence, optics, jewellery, thermal and medical industry.</li></ul>Chennai, The global market for lab grown diamonds (LGD) that the Indian government has decided to focus on is expected to rise to $5 billion by 2025 and exceed $15 billion by 2023 from the $1 billion in 2020. Besides, the jewellery industry, LGD are used in computer chips, satellites and 5G networks as they can be used in extreme environments due to their potential to operate at higher speeds while using less power than silicon-based chips. The LGD has vast application in the field of defence, optics, jewellery, thermal and medical industry. As the government figures, exports of cut and polished (worked) LGD from India has been growing at fast clip. During FY21 the exports were $637.97 million and shot up to $1,348.24 million in FY22. This fiscal -- FY23 -- the exports of LGD between April-December stood at $1,387.33 million. Presenting the Budget 2023-24 in the Parliament recently, Indian Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword>, said: "The LGD is a technology and innovation-driven emerging sector with high employment potential." "These environment-friendly diamonds have optically and chemically the same properties as natural diamonds. To encourage indigenous production of LGD seeds and machines and to reduce import dependency, a research and development grant will be provided to one of the IITs for five years," she added. As per a recommendation made by the <keyword id="113018" type="General" weightage="50" keywordseo="department-of-commerce" source="Orion">Department of Commerce</keyword>, the research grant of Rs 242 crore over a period of five years to <keyword id="55119" type="General" weightage="50" keywordseo="indian-institute-of-technology" source="Orion">Indian Institute of Technology</keyword>, Madras (IIT-M) has been approved. It is proposed to establish an India Centre for lab grown diamond (InCent-LGD) at IIT-M with the estimated cost of Rs 242.96 crore over five years. The aim of this project is to provide, in mission mode, technical assistance to the industries, and entrepreneurs in the country, in promoting indigenous manufacturing of both chemical vapour deposition (CVD) and high pressure and high temperature (HPHT) systems along with the recipes for expanding the LGD business at the upstream end. Research efforts would make the technology available for start-ups at affordable cost, increase employment opportunities, increase exports of LGD, thus play a significant role in fuelling India's economic growth. According to the Indian government, the gems and jewellery sector plays a significant role in the Indian economy, contributing around nine per cent to India's total merchandise export. Over the past decade, there has been several positive developments in the gem and jewellery sector globally. One of the major technological developments in this sector has been the LGD. Though, India is one of the leading producers of LGD using CVD technology it has to depend on other countries for the supply of critical machinery components and 'seeds' -- which are the raw material for producing synthetic diamonds. It is, therefore, imperative that India develops its own, indigenous technology for producing the critical machinery component seeds to remove the import dependence that we have in the case of natural diamonds, the government said. Good quality LGD with qualified certification, produced from the developed equipment and process parameters will attract many foreign customers increasing the export volume of LGD and scalability of production. The documented process parameters and the developed recipe will encourage new entrepreneurs to enter the LGD business making it easier and cost-effective to set up the facility, start the business and generate employment. "This is indeed the right time to set up a diamond factory in India, given that diamonds have thermal and electrical properties making them superior to contemporary technologies like silicon, <keyword id="1437475" type="General" weightage="50" keywordseo="silicon-carbide" source="Orion">silicon carbide</keyword> and gallium nitride. IIT-Madras will work towards producing diamond wafers suitable for electronic applications," V. Kamakoti, Director of IIT-M, had said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-chrome-rolls-out-memory-and-energy-saver-modes-heres-how-you-can-use-it/articleshow/98118135.cms">Google Chrome rolls out Memory and Energy Saver modes: Here’s how you can use it</a> <a href="https://www.businessinsider.in/tech/news/oneplus-11-concept-video-reveals-a-large-camera-and-a-rear-panel-that-lights-up/articleshow/98112845.cms">OnePlus 11 Concept video reveals a large camera and a rear panel that lights up</a>

Not just jewellery, lab grown diamonds used in satellites, computer chips too

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> fell by nearly 1% each on Monday morning amid negative cues from global markets. </li><li>IT, metal and auto sectors witnessed the most decline, while the realty sectoral index was the only one in the green in the first hour of trading today. </li><li><keyword id="90570" type="General" weightage="80" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.17% or 30 points early in the morning today. </li></ul>India’s benchmark indices Sensex and Nifty50 fell by nearly 1% each on Monday morning amid negative cues from global markets. IT, metal and auto sectors witnessed the most decline, while the realty sectoral index was the only one in the green in the first hour of trading today. SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was down 0.17% or 30 points early in the morning today. As of 10:15 a.m. on Monday, the 30-stock Sensex was down 0.9% or 490 points to 58,366, while the 50-stock Nifty50 was down 0.9% or 155 points to 17,311. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.88% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.98% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.73% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.83% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.66% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.06% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.60% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.94% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.46% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.45% </td></tr></tbody></table> Source: NSE, as at 10:15 a.m., February 27, 2023 Earlier last week, Indian markets continued to witness heightened volatility amid increased fears of further rate hikes by the US Fed and consequently the Reserve Bank of India. While Sensex fell 2.91%, Nifty50 declined 2.61% last week. <cmsannotation type="cmsannotation" annotationid="US markets singe on hot inflation" comment="subhead" text="US markets singe on hot inflation">US markets singe on hot inflation</cmsannotation> Markets in the US singed on Friday due to hot inflation numbers raising fears of another rate hike by the US Fed. While the S&amp;P 500 fell 1.05%, Dow Jones Industrial Average fell 1.02%. The tech-heavy Nasdaq fell 1.69%. Most Asian markets were trading in the red on Monday morning, with KOSPI falling the most at 0.83%, followed by Taiwan Weighted which was down 0.72%. Nikkei 225 fell 0.18%, while Hang Seng was flat. Shanghai Composite was the only gainer at 0.22%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="895682" type="General" weightage="80" keywordseo="adani-ports" source="Orion">Adani Ports</keyword> &amp; SEZ: The company’s cargo volumes have crossed 330 million metric tonne (mmt) in 329 days, beating its own milestone from last year of 354 days. <keyword id="66822" type="General" weightage="80" keywordseo="mundra" source="Orion">Mundra</keyword> continues to be the largest port in the country in terms of volumes handled. <keyword id="6358032" type="General" weightage="100" keywordseo="spicejet" source="Orion">SpiceJet</keyword>: The low cost carrier posted a <a href="https://www.businessinsider.in/business/corporates/news/spicejets-q3-net-profit-jumps-162-to-110-crore-on-air-travel-recovery-shares-surge-13/articleshow/98211990.cms">162% surge in net profit </a>to ₹110 crore for the December quarter compared with ₹42 crore last year aided by a robust performance in its passenger and cargo business. <keyword id="2351966" type="General" weightage="80" keywordseo="interglobe-aviation" source="Orion">InterGlobe Aviation</keyword>: More than 50 planes of Indigo and Go First are on the ground due to Pratt and Whitney engine woes amid persisting supply chain issues. Edelweiss Financial Services: The company has received shareholders approval to demerge its wealth management services business paving way to list Nuvama Wealth Management. One 97 Communications (Paytm): Ant Group Co is considering selling some of its shares in the financial services company to keep its holding within a required threshold, according to reports. SEE ALSO: <a href="https://www.businessinsider.in/india/news/after-jammu-karnataka-next-in-turn-for-good-news-on-lithium-in-mandya/articleshow/98244881.cms">After Jammu, Karnataka next in turn for good news on lithium in Mandya</a> <a href="https://www.businessinsider.in/careers/news/dgca-plans-to-hire-400-tech-staff-in-1-2-years-increase-offices-to-19-arun-kumar/articleshow/98248431.cms">DGCA plans to hire 400 tech staff in 1-2 years; increase offices to 19: Arun Kumar</a> <a href="https://www.businessinsider.in/tech/news/iit-madras-to-establish-100-crore-innovation-entrepreneurship-fund/articleshow/98244674.cms">IIT Madras to establish ₹100 crore Innovation &amp; Entrepreneurship fund</a>

Sensex, Nifty50 decline as IT, metal and auto stocks plummet

Economists are of the view that the measures taken by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) have controlled inflation and add that inflation will come down. A senior economist also said the headline inflation could be 7.5 per cent in December putting a spanner in the inflation projections of the central bank. The RBI's Monetary Policy Committee (MPC) will meet on November 3 to discuss what it would tell the Centre as to why it was not able to restrain the inflation within four per cent + or - two per cent for three consecutive quarters. The RBI may also sound out to the Central government as to the course of inflation as well as the reasons why it may be at elevated levels. India's central bank has been trying to contain inflation by increasing the repo rate -- the rate at which it lends to the banks. The central bank has increased the repo rate by 190 basis points in recent times and the last one was by 50 basis points. In India, the retail inflation rose to 7.41 per cent in September. "The measures taken by the government and RBI have been able to control inflation from the high of 7.8 per cent we had seen in April. The fall in global commodity prices has also been supported in containing inflation. Inflationary expectations have also come down," Rajani Sinha, Chief Economist, CARE Ratings Ltd told IANS. "However, the concern is the stickiness of core inflation above six per cent and the renewed surge in domestic food inflation in the last few months. The measures taken by RBI to control inflation will show further impact with a lag of a few quarters," she added. "There is a strong case for the RBI arguing that (a) inflation has primarily been caused by supply-side shocks with global commodity prices having an impact (b) rupee depreciation has added to imported inflation (c) the RBI on its part was proactive in raising rates even between two policies as it did in May when it saw things were going out of hand post-Ukraine war and (d) there have been some measures like increase in goods and services tax (GST) which has added to inflation that was happening in parallel," Madan Sabnavis, Chief Economist, Bank of Baroda, told IANS. "Therefore, there is an explanation as to why inflation was high. But the central bank has been acting to bring it down through its instruments, like repo and CRR (cash reserve ratio). It has succeeded in lowering surplus liquidity too which can be proved," Sabnavis added. "There was a huge sale of forex almost Rs 3 lakh crore to maintain the exchange rate. Inflation which was more than the target continuously for three quarters is estimated to come to around 6 per cent by three more quarters. Interest rates (repo rate) have increased by almost 1.9 per cent. As such the MPC may only be constrained to say that the present steps taken need some more time for having a positive impact to reduce inflation. This is subject to the time inconsistency impact," K. Ramasubramanian, retired General Manager, RBI, and a forex advisor told IANS. According to Sinha, the CPI inflation is estimated to inch below seven per cent in the next few months due to the base effect and below six per cent by the end of the fiscal year. Looking ahead, Sinha said the RBI could hike the repo rate further by 25-50 bps in the current fiscal year. "As we approach closer to the neutral policy rate, RBI will get more cautious in its rate decision," she added. Citing the unseasonal rain affecting the Kharif crops and the September food inflation at 8.4 per cent Dr Soumya Kanti <keyword id="4757" type="General" weightage="50" keywordseo="ghosh" source="Orion">Ghosh</keyword>, Group Chief Economic Adviser, <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> said in 2019 when such rains happened, the average food prices more than doubled from 4.9 per cent to 10.9 per cent. Similarly, the headline inflation in December could be 7.5 per cent and could put a spanner to the inflation projections of RBI and market consensus, Ghosh said in a research report. "This could also mean that the terminal repo rate could still be difficult to comprehend at this time, though consensus puts it at 6.5 per cent," Ghosh said. According to Sinha, the <keyword id="6356435" type="General" weightage="50" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>'s policy decisions and the consequences on the currency market will also have a bearing on RBI's future policy decisions. Economists said the MPC will not be deciding on the policy rate at their November 3 meeting. "With global commodity prices falling and the likely support of base effect in containing India's CPI inflation in the next few months, RBI is unlikely to be in a tearing hurry," Sinha added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/no-scientific-basis-to-two-finger-test-on-rape-survivors-causes-trauma-sc/articleshow/95198492.cms">No scientific basis to two-finger test on rape survivors, causes trauma: SC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/iit-madras-generates-rs-1081-cr-from-funding-and-revenue/articleshow/95200293.cms">IIT Madras generates Rs 1,081 cr from funding and revenue</a>

RBI measures controlled inflation, but challenges remain say economists

<keyword id="5287148" type="ORGANIZATION" weightage="20" keywordseo="MG-Motor">MG Motor</keyword> India on Wednesday said it has joined hands with Vadodara-based MAX Ventilator, a part of AB Industries, to increase ventilator production. This collaboration with Max Ventilator, which is among the top 25 ventilator brands in the world and caters primarily to private hospitals, is focussed on assisting the overall production of ventilators by addressing specific areas of the supply chain, IT system and manufacturing processes, MG Motor India said in a statement. The production capacity would be increased five times to 300 ventilators per month in Phase I, which should be completed within next eight weeks, it said. "In Phase II, the production capacity can be enhanced up to 1,000 ventilators per month, depending upon the demand, especially from the government hospitals to help meet the shortage of the life-saving medical devices in the country," the company added. Commenting on the partnership, MG Motor India President &amp; Managing Director Rajeev Chaba said, "we understand that ventilators are the most critical requirement at this time, and we would do our best to enhance ventilator production. "The collaboration comes as a result of aligned core values of both organisations and is designed to work towards the common goal of serving the communities around where our operations are based." AB Industries – MAX Ventilator Managing Director Ashok Patel said in such times of need, it is an admirable thing for all those capable to come forward and help in some way. "As a manufacturing company of respiratory ventilators, this collaboration with MG Motor will help us to scale-up the production with our teams working together hand in hand. Collaborations like these will guarantee that we meet the requirements to treat the rising COVID-19 cases in India," he added. MG Motor India had earlier stated that it was in talks with three medical device makers to produce ventilators at its Halol facility to help meet demand during the coronavirus pandemic. Apart from developing ventilators in-house, the company had also announced a Rs 10 lakh support through grant to youngsters and young engineers who could design a low-cost ventilator. Moreover, the company had pledged donation of Rs 2 crore to government hospitals and health institutions in Gurugram and Halol (Gujarat), where the carmaker's facilities are located, to fight coronavirus pandemic. RKL DRR See also: <a href="https://www.businessinsider.in/india/news/how-iit-madras-are-developing-innovative-solutions-to-tackle-coronavirus/articleshow/75401210.cms">IIT Madras startups are developing smart bins, touchless dispensers and portable ventilators to tackle Coronavirus</a>

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