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<ul><li><keyword id="126352" type="General" weightage="100" keywordseo="greaves-cotton" source="Orion">Greaves Cotton</keyword> unveiled its range of electric two-wheeler and three-wheeler electric vehicles at the ongoing Auto Expo 2023.</li><li>Company at the event unveiled three two-wheelers under <keyword id="1517554" type="General" weightage="80" keywordseo="ampere" source="Orion">Ampere</keyword> brand series -- Ampere Primus, Ampere <keyword id="3214445" type="General" weightage="50" keywordseo="nxg" source="Orion">NXG</keyword> and a multi-utility scooter Ampere NXU which can be also used for deliveries.</li></ul>New Delhi, Engineering company Greaves Cotton on Wednesday unveiled its range of electric two-wheeler and three-wheeler electric vehicles at the ongoing Auto Expo 2023. Company at the event unveiled three two-wheelers under Ampere brand series -- Ampere Primus, Ampere NXG and a multi-utility scooter Ampere NXU which can be also used for deliveries. In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, cargo EV Greaves ELC and a futuristic cargo concept Greaves Aero Vision. Greaves Electric Mobility Private Ltd, CEO and Executive Director, <keyword id="254218" type="General" weightage="50" keywordseo="sanjay-behl" source="Orion">Sanjay Behl</keyword> said Ampere Primus will be available during the ongoing quarter, while rest of the vehicles will be made available during the course of next financial year. "Ampere Primus is now open for bookings across India. Rest of the vehicles will be launched in the next financial year," Behl said. Greaves Cotton Executive Vice Chairman <keyword id="1624060" type="General" weightage="50" keywordseo="nagesh-basavanhalli" source="Orion">Nagesh Basavanhalli</keyword> at the event shared the company's commitment to invest Rs 1,500 crore in the deployment of indigenous electric vehicle ecosystem in the country since its entry into the e-mobility business. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mercedes-honda-bmw-and-others-showcase-some-exciting-car-tech-at-the-ces-2023-these-are-our-favorites/articleshow/96851293.cms">Mercedes, Honda, BMW and others showcase some exciting car tech at the CES 2023 — these are our favorites</a> <a href="https://www.businessinsider.in/tech/news/for-the-first-time-in-history-an-ai-bot-will-reportedly-defend-a-human-in-court/articleshow/96785418.cms">For the first time in history, an AI bot will reportedly defend a human in court</a>

Greaves Cotton unveils new two-wheeler, three-wheeler EVs

<ul><li>Shares of <keyword id="126352" type="General" weightage="20" keywordseo="greaves-cotton" source="Orion">Greaves Cotton</keyword> have been surging continuously since the last five days after its arm Greaves Electric Mobility reported strong sales for December 2021 quarter.</li><li>Greaves Electric Mobility, electric two and three-wheeler manufacturer, sold over 10,000 units in December.</li><li>Reportedly, the subsidiary forms 24% of Greaves Cotton’s revenue as of September quarter.</li></ul>Shares of Greaves Cotton have been surging continuously since the last one week after the company subsidiary announced strong sales numbers in December 2021. The stock has gained as much as 19% on January 11 and 51% in the last five days. Its subsidiary Greaves Electric Mobility, an electric two and three-wheeler manufacturer, sold over 10,000 units in December. <a href="https://www.business-standard.com/article/markets/greaves-cotton-soars-11-hits-all-time-high-stock-up-40-so-far-in-jan-122011000280_1.html">Reportedly</a>, the subsidiary forms 24% of Greaves Cotton’s revenue as of September quarter. <div type="image" title="greaves" height="900" width="1200" msid="88841846" hostid="261"></div>Reason behind the huge rally in stocks One primary reason for the continuous rise in the stock price is investors’ newly-found love for electric vehicles (EVs). “Electric vehicles as a subject by itself are attracting a lot of new funds from global investors because there is a significant amount of appetite for that. Market may be more euphoric about the EV, which has led to the price rise, and the company may or may not succeed in the segment. But right now at least the journey is sounding fundamentally good,” Deven R Choksey, managing director at KR Choksey Investment Managers told Business Insider. Investors’ liking for the company is beyond profits as the investor interest continued despite the company booking losses in FY21. “Earnings (levels of profits) for even a company like Tesla never came through for 12-15 years, so I don’t think investors are right nor arguing for earnings. Earnings will only come when the company achieves a scale and once they achieve a scale, earnings are bound to be there,” added Choksey. Besides, the core business of Greaves Cotton that is to manufacture engines and heavy equipment is also well positioned to do well. “Greaves Cotton’s core engine business, which is a capital goods business, is well positioned and in an upward cycle. Besides, there is a tremendous buying interest for green renewable energy and electric vehicles especially with respect to two wheelers, which is leading to a rally in the stock,” said Kranthi Bathini, director of equity strategy at WealthMills Securities, told Business Insider. The company’s operations were severely hit in FY21 due to lockdowns led by the pandemic. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Greaves Cotton </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit/loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,508 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹18.78 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,931 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹127 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,057 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹162 crore </td></tr></tbody></table> Demand for electric vehicles is only going up With changing environmental conditions and the Indian government's push toward electric vehicles, the demand for EV has remained robust. “Electric scooters have seen a dramatic increase in demand due to their broader demographic appeal and ease of handling. With changing consumer behaviour, enhanced environmental consciousness, rising petrol prices, rapid urbanisation and significant COVID protocols; we are seeing more people switching to sustainable personal mobility options,” said the company in a press release. Expansion of subsidiary Greaves electric mobility The company has acquired 100% stake in electric 3-wheeler company ELE (e-rickshaws). It also acquired a 26% stake in another electric 3-wheeler company MLR Auto (Teja brand). Along with it, the company also recently launched a new EV factory in Tamil Nadu’s Ranipet district, which is said to be one of the biggest EV factories in the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/due-date-for-filing-income-tax-returns-extended-to-march-15-2022/articleshow/88836918.cms">Due date for filing income tax returns extended to March 15, 2022 for individuals whose accounts are to be audited</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hindalco-is-a-better-bet-than-tata-steel-because-electric-vehicles-need-aluminium/articleshow/88827641.cms">The rise of electric vehicles makes aluminium more attractive than steel</a>

This stock has gained 51% in the last five days on investors’ new-found love for electric vehicles

Greaves Cotton, Solara and Rajesh Exports shine on the first trading day of 2022

Minda Industries, Sona Comstar, Greaves Cotton amongst biggest gainers as investors bet on Budget 2022 being EV-friendly

A corpus of Rs 1 lakh crore will be established with 50-year interest free loans to encourage the private sector to scale up research and innovation in sunrise domains, Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> announced on Thursday. Presenting the interim Budget 2024-25, Sitharaman said this will be a golden era for India's tech savvy youth. "A corpus of Rs 1 lakh crore will be established with 50-year interest free loan. The corpus will provide long-term financing or refinancing with long tenures and low or nil interest rates," the minister said. "This will encourage the private sector to scale up research and innovation significantly in sunrise domains. We need to have programmes that combine the powers of our youth and technology," she added. EV stocks rally Shares of companies related to the electric vehicle segment jumped on Thursday after the announcement that the government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged. The stock of Olectra Greentech jumped 6.21% to reach its 52-week high of Rs 1,849.25 on the BSE. JBM Auto climbed 4.96% to hit its one-year peak of Rs 2,010.80. Greaves Cotton went up by 3% to the day's high of Rs 168.55. The government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, also said the blending of compressed biogas into compressed natural gas for transport and piped natural gas will be mandatory. Biomanufacturing and bio foundry scheme will be launched to provide environment-friendly alternatives for bio-degradable production, she added.

Corpus of Rs 1 lk cr to scale up research in sunrise domains: FM Sitharaman

<ul><li><keyword id="28721" type="General" weightage="20" keywordseo="Cognizant" source="Orion">Cognizant</keyword> is hiring BCA, BSc students who graduated in 2020 and 2021 for its programmer trainee roles.</li><li>The last date to apply for the opportunity is 11:59 p.m., January 6, 2022.</li><li>This is a full-time work-from office based role, in which candidates will be offered a fixed annual salary of ₹252,000.</li></ul>Cognizant, an information technology (IT) and consulting firm, is inviting applications from Bachelor of Computer Applications (BCA), Bachelor of Science (B.Sc) students who graduated in 2020 and 2021 for its programmer trainee roles. The last date to apply for the opportunity is 11:59 p.m., January 6, 2022. Interested candidates can apply online <a href="https://app.joinsuperset.com/join/#/signup/student/jobprofiles/9edb0306-f745-44aa-b627-deb415e8d568">here</a>. This is a full-time work-from office based role, in which candidates will be offered a fixed annual salary of ₹252,000. Eligibility criteria for the role — <ol><li>Students from BCA, B.Sc — IT/computer science /computer technology/mathematics /physics/chemistry/statistics, who graduated in the year 2020 and 2021 are only eligible to apply for the role. </li><li>Postgraduate students are not eligible for the role. </li><li>Candidates must have a consistent academic record of a minimum 60% in class 10, 12, diploma, and undergraduate. Note: All subjects will be taken into consideration. </li><li>There should be no standing arrears in current education. </li><li>Candidates with more than 2 years of gap in education are not eligible. </li><li>This opportunity is open only for Indian nationals, overseas citizenship of India (OCI), and dual citizenship holders. </li><li>Candidates should be flexible to relocate to any location in India, work in any shift/domain. </li><li>Employees currently working with the company cannot apply for the above profile. </li></ol>What will be your day-to-day tasks? <ol><li>Interpret the functional requirements and low level design and develop simple level coding components. </li><li>Interpret the entities/relationships and create simple tables in the database. </li><li>Describe relationships between tables and write simple queries to retrieve data from the database. </li><li>Perform CRUD (create, read, update and delete) operations and write simple stored procedures for a given low level design. </li><li>Prepare test cases/scripts/data and execute manual/automated tests. </li><li>Analyse root cause and fix service tickets as per standard operating procedures, for production support environments. </li><li>Demonstrate proficiency in tools related to IT service management and data analytics. </li><li>Possess a strong drive to innovate, experiment with new technology and tools. </li><li>Display traits of self-discipline and accountability. </li></ol>Interested candidates can seek more information <a href="https://app.joinsuperset.com/join/#/signup/student/jobprofiles/9edb0306-f745-44aa-b627-deb415e8d568">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/greaves-cotton-solara-active-pharma-rajesh-exports-and-eclerx-services-shares-surge-on-first-day-of-2022/slidelist/88665344.cms">Greaves Cotton, Solara and Rajesh Exports shine on the first trading day of 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/best-language-learning-smartphone-apps-for-android-and-ios/slidelist/88664564.cms">Best language learning smartphone apps for Android and iOS</a>

Cognizant is hiring BCA, BSc graduates for its programmer trainee roles with an annual salary of ₹2,50,000

Finance minister Nirmala Sitharaman on Tuesday announced the <keyword id="12280048" type="General" weightage="20" keywordseo="pm-gati-shakti" source="Orion">PM Gati Shakti</keyword> National Master Plan aimed at making logistics connectivity seamless across the length and breadth of the country. Sitharaman described the <keyword id="11977289" type="General" weightage="20" keywordseo="gati-shakti" source="Orion">Gati Shakti</keyword> plan – a massive infrastructure development undertaking – to encompass the ‘engines’ of growth, namely roads, railways, mass transport, seamless multi-modal connectivity. In deference to the request from many states, the outlay of the Scheme for Financial Assistance to states has been increased from ₹10,000 crore to ₹15,000 crore. The allocation for FY23 is ₹1 lakh crore to catalyse overall investments in the economy. The 50-year interest free bonds are over and above the normal borrowings by the states. This will be used for Gati Shakti, rural road projects, town planning schemes etc. The Gati Shakti project aims to create a synergy between infrastructure and logistics, both of people and goods, and location of projects. Here are the key takeaways of the announcements under the PM Gati Shakti National Master Plan: <ul><li>A scheme for expressways will be formulated in 2022-23 to facilitate faster movement of people and goods.</li><li>The national highways network will be expanded by 25,000 kilometres in 2022-23, with an outlay of INR 20,000 crores via financing.</li><li>A new Unified Logistics Interface Platform will be brought in to facilitate data exchange between operators across different modes of transport, aimed at implementing a just-in-time approach for logistics management and giving access to real-time information to operators.</li><li>A new open-source mobility stack for organising seamless travel of passengers will be facilitated.</li><li>Contracts for implementation of multi-modal logistics parks at four locations will be awarded on a public-private-partnership (PPP) mode in 2022-23.</li><li>Railways will develop new products and logistics services for small farmers, and small and medium enterprises.</li><li>Railways will integrate railways and postal networks for seamless movement of parcels.</li><li>A 2,000-kilometre railway network will be brought under ‘Kavach’ for safety and capacity augmentation.</li><li>400 new-generation Vande Bharat trains with better energy efficiency and passenger riding experience will be developed and manufactured over the next three years.</li><li>100 PM Gati Shakti cargo terminals for multi-modal logistics facilities will be developed in the next three years.</li><li>‘Innovative’ financing options will be encouraged for building metro systems of appropriate type and scale.</li><li>Facilitation of multi-model connectivity options between mass urban transport and railway stations.</li><li>Standardisation of metro systems and civil structures based on Indian needs.</li><li>Parvatmala, a preferred ecologically sustainable alternative to conventional road systems in hilly areas – also known as National Ropeways Development Programme, will be undertaken in PPP mode.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2022-speech-highlights-and-updates-from-finance-minister-nirmala-sitharaman/articleshow/89264352.cms">Budget 2022: Watch out for the highlights from Finance Minister Nirmala Sitharaman’s speech</a> <a href="https://www.businessinsider.in/budget/news/minda-industries-sona-comstar-greaves-cotton-amongst-biggest-gainers-as-investors-bet-on-budget-2022-being-ev-friendly/articleshow/89264077.cms">Minda Industries, Sona Comstar, Greaves Cotton amongst biggest gainers as investors bet on Budget 2022 being EV-friendly</a> <a href="https://www.businessinsider.in/stock-market/news/shares-of-fmcg-companies-rise-on-hopes-of-consumption-boost-for-the-sector/articleshow/89263952.cms">Britannia, Dabur, Marico surge on hopes that budget will leave people with more money to buy stuff</a>

PM Gati Shakti National Master Plan aims to bring synergy between infrastructure and logistics across the length and breadth of India

<ul><li>Nirmala Sitharaman is all set to make her fourth budget speech as India’s <keyword id="6355261" type="General" weightage="20" keywordseo="finance-minister" source="Orion">Finance Minister</keyword>.</li><li>Stock markets have regained a lot of the recently lost value in the hope that the Narendra Modi government will spend enough money to boost private consumption.</li><li>This article will be updated with the most important parts of Sitharaman’s speech as soon as she starts speaking.</li></ul>Nirmala Sitharaman is all set to make her fourth budget speech as India’s Finance Minister. Stock markets have regained a lot of the recently lost value in the hope that the Narendra Modi government will spend enough money to boost private consumption. This may include income tax cuts as well, according to experts. The first part of her speech focussed on the government’s upcoming programme titled ‘Gati Shakti’. This programme involves big public investment in building modern infrastructure including roads, highways, seamless multimodal transport, and improving logistics networks to name a few. As part of this programme, the budget has allocated ₹20,000 crore to award 25,000 kilometres of highway projects in the financial year ending March 2023. In deference to the request from many states, the outlay of the Scheme for Financial Assistance to states has been increased from ₹10,000 crore to ₹15,000 crore. The allocation for FY23 is ₹1 lakh crore to catalyse overall investments in the economy. The 50-year interest free bonds are over and above the normal borrowings by the states. This will be used for Gati Shakti, rural road projects, town planning schemes etc. The Finance Minister has announced a fund to support startups in agriculture which will be routed via National Bank for Agriculture and Rural Development (NABARD). A credit guarantee trust will create additional credit of ₹2 lakh crore for small businesses. Desh Stack platform will provide API-based certification and help upskilled people find relevant jobs. The Finance Minister proposed the use of drones as a service in select Industrial Training Institutes (ITIs) in all states. A national digital university will be launched, in a hub-and-spoke model, where other public universities will collaborate. To improve access to mental healthcare, 23 tele-mental health centres will be launched, with National Institute of Mental Health and Neuro-Sciences (NIMHANS) as the nodal unit, and Indian Institutes of Information Technology (IIIT) Bangalore providing tech support. ₹60,000 crore budget allocation in FY23 to take piped water connections to 8.8 crore homes. 23 tele-mental health centres will be launched to improve access to mental healthcare. NIMHANS will function as the nodal unit, and IIIT Bangalore providing tech support. PM Awas Yojana, a subsidised housing scheme, gets a budget allocation of ₹48,000 crore. E-passports with embedded chips will be rolled out in 2022-23 to make it convenient for citizens. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/minda-industries-sona-comstar-greaves-cotton-amongst-biggest-gainers-as-investors-bet-on-budget-2022-being-ev-friendly/articleshow/89264077.cms">Minda Industries, Sona Comstar, Greaves Cotton amongst biggest gainers as investors bet on Budget 2022 being EV-friendly</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-fmcg-companies-rise-on-hopes-of-consumption-boost-for-the-sector/articleshow/89263952.cms">Britannia, Dabur, Marico surge on hopes that budget will leave people with more money to buy stuff</a>

Budget 2022: Watch out for the highlights from Finance Minister Nirmala Sitharaman’s speech

Mumbai, Jul 6 () Ampere Vehicles, the electric arm of Greaves Cotton, on Monday announced the acquisition of Noida-based e-rickshaw firm Bestway Agencies (BAPL) with a 74 per cent stake. Bestway sells e-rickshaws under the ELE brand with a strong B2C presence in the mass market passenger segment. Through this acquisition, Ampere will expand its presence in this fast disrupting segment to become an integrated last-mile e-mobility player with strong presence in both electric two- and three-wheelers, Ampere vehicles said in a release. "With the acquisition of Bestway, Ampere has now embarked on a new journey to provide clean, safe and sustainable shared mobility solutions through e-3wheeler and become a leading player in the country's EV ecosystem," said Ampere Vehicles Chairman B V R Subbu. The acquisition is subject to customary closing conditions, the company said. E-rickshaw is one of the largest and fastest-growing categories of EVs in the country, and Ampere foresees growth in this segment, it said. In addition to the business-to-customer (B2C) segment, with this acquisition, Ampere will also be able to offer a complete product portfolio to its business-to-business (B2B) customers who have requirements for e-3 wheelers as well for both people and cargo mobility, the company said. "This acquisition will further strengthen our relationship with the domestic consumer by adding last-mile mobility products and services for uninterrupted journey, enhancing productivity across E-2W and E-3W spectrum," Nagesh Basavanhalli, MD and CEO of Greaves Cotton Ltd and director of Ampere Vehicles, said. He said combining Ampere's and Bestway's expertise will help in further boosting the company's growth and strengthen market positioning as a leading e-mobility business in India. The e-3wheeler segment has seen growth acceleration in the past few years and Bestway's ELE e-rickshaw has been one of the top-three brands in this organised segment in the high-growth markets of Eastern India and Eastern UP, the release said. IAS HRS

Ampere Vehicles acquires Noida-based e-rickshaw firm Bestway Agencies with 74 pc stake

<ul><li>In last year’s budget Finance Minister Nirmala Sitharaman had announced ₹5.5 lakh crore ($74 billion) as capital investments.</li><li>As of November 2021, less than half of that has been spent</li><li>However, if it were to step up spending in the last three months to cover some of the slack, it could mean large orders for private companies like Larson &amp; Toubro, Bharat Electronics, ABB and Siemens.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>A big part of the market rally that unfolded post the budget speech last year was the government’s commitment to spend big bucks on infrastructure. However, at the end of November 2021, less than half of the budgeted amount was spent. As a report from HDFC Securities pointed out, the difference between the budgeted amount and the actual spending this year has been the highest in the last 4 years. The second wave of the pandemic, and the third one that’s underway right now, may have set back some of the spendings. <div type="image" title="budget capex" height="900" width="1200" msid="88852484" hostid="261"></div>Finance Minister Nirmala Sitharaman had said that the government would make capital investments worth ₹5.5 lakh crore by March 2022 on roads, metro rail network, renewable energy, and in building other such infrastructure. Such spending results in orders for construction companies like Larson &amp; Toubro, Dilip Buildcon, KNR Construction and IRB Infrastructure Developers, as well as equipment providers like Bharat Electronics, ABB and Honeywell. And, therefore, in better economic growth. These are the shortfalls compared to the budget promise across different sectors: <div type="image" title="sector capex" height="900" width="1200" msid="88852502" hostid="261"></div>A recent report by Crisil said that the central <a href="https://economictimes.indiatimes.com/news/economy/indicators/public-capex-turns-the-corner-central-spending-seen-jumping-12-over-pre-pandemic-level-report/articleshow/88048366.cms?from=mdr">government expenditure on capital investments was up 31% compared to the last financial year</a>, which was also the first year of the pandemic. The same number, when compared to 2019, is higher by 13%. In September last year, the Finance Minister <a href="https://indianexpress.com/article/business/spends-lagging-finmin-asks-ministries-to-step-up-capex-7538316/">told ministries to increase the pace of spending</a> to meet the targets. However, October and November continued to be lean months, according to a report by Elara Securities. If the government decides to cover some of the slack in the last three months, it could result in some big orders flowing in. That could explain the recent rally in capital goods stocks. “The lag in the spending for capital goods and infrastructure in FY22 was because of COVID-19 and related spending. This time the spending for these sectors started in October 2021. Even historically, the spending is high in the third and fourth quarter only as giving out tenders and finally giving the order to specific companies takes a lot of time,” said Kranthi Bathini, director of equity strategy at WealthMills Securities, told Business Insider. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital good companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in last five days </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Greaves Cotton </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Suzlon Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alok Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Varroc Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prism Johnson </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RHI Magnesita India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elgi Equipments </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Trident </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr></tbody></table>The market also hopes that the emphasis on capital investments will continue in the upcoming budget too. “Budget 2022 is most likely to focus on improving infrastructure. It might include a detailed list of public roads to railways assets, which the government plans to monetise during FY 2022-23. Reports also suggest that it might especially prioritise highways and expressways,” said a <a href="https://www.bajajfinservmarkets.in/markets-insights/budget/budget-2022.html">report </a>by Bajaj Finserv. “We expect major initiatives to be announced to stimulate capital expenditure both on the private and public side. This has been the thrust of the government since COVID hit the country’s growth. We expect schemes for outlay for development of infrastructure including major spending towards roads, irrigation, healthcare and smart cities,” Anshuman Khanna, Director at Value Prolific Consulting Services (ValPro) told Business Insider. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/tiger-global-led-82-million-round-in-fintech-startup-refyne/articleshow/88837462.cms">INTERVIEW | This one-year-old startup raised $82 million led by Tiger Global to offer employees advance on their salaries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-stock-has-gained-51-in-the-last-five-days-on-investors-new-found-love-for-electric-vehicles/articleshow/88841859.cms">This stock has gained 51% in the last five days on investors’ new-found love for electric vehicles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a>

The Indian government has spent less than half the money it had budgeted for capital investments, so far

<ul><li><keyword id="408440" type="PERSON" weightage="20" keywordseo="BVR-Subbu">BVR Subbu</keyword> joins <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> on its board of directors. </li><li>Subbu had held top positions at Hyundai and <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>. He currently heads a boutique strategy-consulting firm, Beyond Visual Range. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric turned a unicorn in July this year. </li></ul>Ola’s subsidiary Ola Electric brought B V R Subbu on board as a director. Subbu was the former president of Hyundai India and a general manager at Tata Motors earlier in his career. “Subbu has played a key role in building and establishing some of India’s iconic automotive products like the ubiquitous <keyword id="308405" type="COMPANY" weightage="20" keywordseo="Hyundai-Santro">Hyundai Santro</keyword> and Tata 2213. His deep understanding of the mobility space and consumers will be very valuable to us in our journey to build electric mobility for India and the world,” said Bhavish Aggarwal, Co-founder &amp; CEO, Ola. Subbu has been taking up various roles since he retired from Hyundai in 2006. He was also brought onto the board of Ampere Motors, the electric mobility arm of Greaves Cotton. Currently, Subbu heads a boutique strategy-consulting firm, Beyond Visual Range. “Ola Electric is the perfect amalgam of the passion and social consciousness of youth, an exceptional appreciation and understanding of technology, and a demonstrated ability to successfully build global scale and competitiveness, coming together to attain the national imperative of sustainable mobility,” said Subbu. In July 2019, Ola Electric turned a unicorn after it raised $250 million from Softbank. In May, Ola Electric raised funds from Arun Sarin, former Vodafone Group CEO and the Chairman Emeritus of Tata Group, Ratan Tata. In March, it raised ₹400 crores from Ola’s existing and early investors – Tiger Global and Matrix India. Interestingly, most of the investors in Ola Electric are its parent company’s investors – from Softbank to Arun Sarin, Ratan Tata and even Tiger Global and Matrix India.

You Searched For "greaves cotton" and got 11 results

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The Indian government has spent less than half the money it had budgeted for capital investments, so far

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The brains behind Hyundai Santro will now join the board of Ola Electric

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