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<keyword id="2746883" type="General" weightage="50" keywordseo="key-highlights" source="Orion">Key Highlights</keyword> for April '22: <ul><li>Room Air Conditioner category recorded an unprecedented growth of over 170%</li><li>The overall Cooling Products segment grew by more than 160%</li><li>Commercial Refrigeration category grew by 125%Voltas <keyword id="1762359" type="General" weightage="50" keywordseo="beko" source="Orion">Beko</keyword> home appliances segment grew by 75%.</li></ul> <keyword id="452495" type="General" weightage="50" keywordseo="voltas-limited" source="Orion">Voltas Limited</keyword>,, from the house of <keyword id="8555" type="General" weightage="50" keywordseo="tata" source="Orion">Tata</keyword>'s, recorded a triple-digit growth in April 2022 , due to an increase in demand for cooling products given the intense summer experienced across the country. The volumes of April 2022 in the cooling products segment has broken many records. <keyword id="6354999" type="General" weightage="100" keywordseo="voltas" source="Orion">Voltas</keyword> has been the undisputed market leader in the Room Air Conditioner category since more than a decade, consistently maintaining the No. 1 position and has steadily maintained its lead over competition, with a lead of more than 640 BPS over nearest competitor as on YTD March FY22. The brand is now gearing up to meet its business objectives for FY 23. Commenting on the performance, Mr. <keyword id="272815" type="General" weightage="50" keywordseo="pradeep-bakshi" source="Orion">Pradeep Bakshi</keyword>, Managing Director &amp; CEO, <keyword id="201377" type="General" weightage="50" keywordseo="voltas-ltd" source="Orion">Voltas Ltd</keyword> said, "The summer of April 2022, has helped us gain an unprecedented growth in comparison to the last three years. Our Room AC business has grown up by over 170% in volume. The overall cooling products business has grown by more than 160% while our Home Appliances grew by 75% in volume. In Commercial Refrigeration, the company has grown by 125% in volume in April 22. We believe that our wide presence, focus on the emerging channels, excellent distribution network, strongest brand equity and attractive consumer offers, will help the brand stay ahead of the industry" He further added, "We are well poised to meet the growing demand, and are optimistic about achieving our business objectives for the financial year FY23." Besides its 24,000 customer touch points, Voltas also has a widespread network of exclusive brand outlets (EBOs) and plans to launch many more Brand Shops and Experience Zones by the end of FY 23. The Company has recently launched a dynamic product portfolio for the summer, and several Brand Shops in Tier 1, 2, and 3 cities across the country, to meet the expectations of consumers in these markets and enable them to experience the best-in-class technologically advanced products. Disclaimer: The following press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same.

Voltas records an unprecedented triple-digit growth in April '22

<ul><li>After the lockdown froze the sales of the cooling products last summer, Voltas witnessed a good come-back during the festive period due to pent-up demand.</li><li>Pradeep Bakshi, Managing Director and CEO, Voltas Limited is confident that this trend will continue in 2021 and help them achieve a double digit growth.</li><li>He shares how the brand has managed to stick to its leadership position despite the curveballs that COVID has sent its way and his plan to expand its market share this year.</li></ul> The onslaught of sweltering summer and the extention of working from home for most people has had an obvious, positive impact on the air conditioning industry. As people try to make their homes more comfortable during the summer as they spend more time indoors, the direct effect has been higher demand for air conditioning and cooling products. Anticipating the increased demand for its products, leading AC manufacturer Voltas has outlined a 360-degree marketing plan to further increase its market share. It is confident of witnessing double-digit growth this summer, which is its peak season as it brings in more than 50% of its room AC sales. According to Motilal Oswal Research study, Indian Room AC market has grown at ~10% CAGR (in volume) over FY10–20 and Voltas is the leading player in the market. <div type="image" title="Indian AC market" msid="82035328" hostid="261"></div> <div type="image" title="ac players" msid="82035336" hostid="261"></div> The Indian AC industry is sized at Rs 180–200 billion. According to Tech Scientific data, it is projected to grow at a CAGR of more than 17%, to surpass $ 11 billion by 2023. However, the air conditioning and cooling products market was adversely affected in the first half of last year due to the nation-wide lockdown, with sales coming to a grinding halt during the category’s peak season. AC is a highly seasonal sales product and it sees its peak during the March-June period. However, despite the Covid-induced speedbump, Voltas was able to maintain its leadership position in the AC category, thanks to the resurgence of demand during the festive season. “We are delighted to report that despite the pandemic situation, we maintained our market leadership with a 26% market share in the room air conditioners category. The Cooling Products business made good recovery, post easing of the lockdown situation. As of last quarter, we achieved a YoY growth of 46% over the same quarter (non-covid period) of the previous year,” shared Pradeep Bakshi, Managing Director and CEO, Voltas Limited. Voltas earned Rs 28,516 million revenue last year, as per Motilal Oswal. The brand maintained its leadership position, followed by Daikin at Rs 26,166 million. Voltas is hoping to see a similar momentum this year as well. Sharing his outlook for this year, Bakshi added, “The performance of the Air cooler vertical too has been satisfactory with a growth of 11% over the previous year. Based on latest market share figures, we are now at the number two position overall. We expect this momentum to continue in the next few quarters. Overall, I am optimistic about double-digit industry growth this summer.” Elaborating on why Voltas is optimistic about seeing a double digital growth, Bakshi said, “This summer, we are already witnessing a robust demand for Room Air Conditioners and our range of Cooling products like Air Coolers and Commercial Refrigeration products. This is due to the India Meteorological Department’s (IMD) forecast of a strong summer this year, across most regions of India. The work-from-home hybrid routine is expected to continue for some more time, thus leading consumers to continue looking for home appliances and cooling products that help with the burden of household chores, and make their work-from-home scenario more comfortable." Marketing strategy this year In line with the motto of ‘Keeping India Cool’ since 1954 and being the ‘cooling experts of India,’ Voltas recently launched its Air Cooler <a href="https://twitter.com/myvoltas/status/1374591244500750338" data-type="tilCustomLink">campaign </a>‘Ab Garmi Ke Mazey Lo, Bina Garmi Ke.’ The campaign taps into the emotions of Indian summer and highlights that with Voltas’ Air Fresh Coolers, the consumers can enjoy all the good things that summer season brings along, and say goodbye to heat, humidity and sweat. And this year, Voltas is spending 25% of its marketing monnies on digital media. To increase its affinity and sales further, Voltas will stick to a 360-degree approach. “We, at Voltas, believe in having a holistic 360° strategy, where we focus on being accessible to our customers in multiple formats. As part of this, we have adopted an Omni-channel strategy with an emphasis on offline as well as online channels. This largely helps us customise our approach to suit the different markets in the rural, as well as urban areas, across the country. With consumers at the centre of our universe, our marketing initiatives have always included campaigns that can easily identify with consumers. We have a record of demystifying technologies and creating meaningful campaigns, which stay relevant for the consumers for years. We will continue to have the highest Share of Voice in the Cooling products category, with a heavy presence across electronic media. Further, keeping in mind the trend of consumer media habit consumption, over 25% of our Advertising spends will be on Digital,” said Bakshi. Vision for 2021 According to Motilal Oswal research study, India’s AC industry is highly competitive, with 35–40 brands playing the penetration story in India. The Top 6 players enjoy 75–80% market share. So, there’s still a huge scope for Voltas to grow further. It also outsources 40% of its services and Indian companies are working towards minimising their dependence on external sources and imports. Sharing the brand’s strategy to increase its market share this year, Bakshi said, “Voltas has strengthened its market leadership with close to 26% market share in the Room Air conditioners. And we are not just ramping up production in our existing factories in Pantnagar, Waghodia and Sanand but also working towards enhancing the production capacity of Air Conditioners through another plant in the Southern region of the country. So, for the upcoming summer season, we expect more traction in urban and mini-metros, due to the high level of penetration of branded cooling products in these markets. To address this growing demand, we have taken some key steps like shifting stocking focus to high demand goods, penetration in more rural, less affected zones and increasing the manufacturing capacities. As the pace of electrification increases and the expected trickle-down effect on consumer durables is likely to be witnessed, given the increasing disposable incomes, demand from rural as well as Tier 2 and 3 cities will also increase.” The brand has opened new shops in Tier II and III cities. It aims to drive the highest distribution reach and market share across all Tiers of population strata and strengthen its leadership position in urban and semi-urban areas this year.

Air conditioner and cooling brand Voltas India eyes double digit growth this summer

<ul class="summary-list"><li>Shares of ChargePoint, EVgo, Volta, and other <keyword id="12000721" type="UNKNOWN" weightage="60" keywordseo="ev-charging" source="Orion">EV charging</keyword> stocks surged Monday. </li></ul><ul class="summary-list"><li>The <keyword id="11930606" type="UNKNOWN" weightage="60" keywordseo="infrastructure" source="Orion">infrastructure</keyword> bill promises $7.5 billion to expand a national EV-charging network.</li></ul>The infrastructure package boosted electric-vehicle charging stocks Monday after Congress over the weekend passed the $1 trillion infrastructure bill, which includes $7.5 billion for the <keyword id="11893543" type="UNKNOWN" weightage="60" keywordseo="ev" source="Orion">EV</keyword> sector. <a href="https://markets.businessinsider.com/stocks/evgo-stock">EVgo</a> jumped 17%, <a href="https://markets.businessinsider.com/stocks/vlta-stock">Volta</a> climbed over 11%, while <a href="https://markets.businessinsider.com/stocks/chpt-stock">ChargePoint</a> and <a href="https://markets.businessinsider.com/stocks/blnk-stock">Blink Charging</a> were both up nearly 10%. The infrastructure bill includes upwards of <a href="https://www.cnbc.com/2021/11/05/house-passes-bipartisan-infrastructure-bill-sends-it-to-biden.html">$550 billion</a> in new funding for transportation, broadband, and utilities, which legislators say will address a broad range of issues. It also aims to build a national network of electric-vehicle chargers over the next five years. The move is part of the Biden administration's push for more climate-friendly initiatives like reducing carbon emissions and electrification. EVs, at present, are held back by limitations on driving range, due in part to a lack of charging stations. The inconvenience of charging an electric vehicle has even led some customers <a href="https://www.businessinsider.com/electric-car-owners-switching-gas-charging-a-hassle-study-2021-4">to switch back to gas vehicles. </a>Companies like EVgo, Volta, and others in the EV industry could see a boost in share price as EVs become more pervasive. Meanwhile, investors are also riding optimism from the <a href="https://www.nytimes.com/live/2021/11/01/world/cop26-climate-change-summit">United Nation's COP26 climate summit</a> in Glasgow, Scotland, where talks centered on EVs.

Electric vehicle charging stocks surge as Congress clears infrastructure bill with $7.5 billion for EV sector

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Nvidia on YouTube</div></div></div><ul><li>Nvidia is getting closer to offering a mainstream GPU based on its Volta architecture with the release of its new Titan V GPU.</li><li>The card costs $2,999 and is aimed at artificial intelligence researchers. </li><li><a href="http://markets.businessinsider.com/stock/NVDA-Quote">Track Nvidia's live stock price here.</a></li></ul> <a href="http://markets.businessinsider.com/stock/NVDA-Quote">Nvidia</a> has finally brought its Volta architecture to the PC in a consumer format with its new Titan V GPU.The company is trading 0.97% higher at $193.74 after announcing the new chip, which goes on sale immediately for the out-there price of $2,999.The new chip is based on Nvidia's Volta architecture, which is slowly replacing its previous Pascal architecture that is still widely available today. The Titan V is aimed at scientists and researchers in the artificial intelligence field.The chip is about nine times more powerful than its predecessor, according to Nvidia. The new card illustrates Nvidia's focus on powering the next generation of artificial intelligence and machine learning, as the company is focusing on addressing the needs of researchers before releasing a card for the video gaming market.'"Our vision for Volta was to push the outer limits of high performance computing and AI," Jensen Huang, CEO of Nvidia, said in a news release. "We broke new ground with its new processor architecture, instructions, numerical formats, memory architecture and processor links."The new cards are available for purchase from Nvidia, but they are being used in data centers for researchers to use via the cloud. Nvidia said it will begin offering access to the new Titan V card on its own computing platform immediately.The Titan V is not aimed at gamers or cryptocurrency miners, two of Nvidia's largest markets. <a href="http://markets.businessinsider.com/currencies/news/bitcoin-amd-nvidia-crypto-boom-is-over-mizuho-says-2017-11-1009813614">Those markets have been supply-constrained</a> as cryptocurrency miners are scooping up cards aimed at video gamers to help speed up their crypto rigs. <h2><a href="http://markets.businessinsider.com/currencies/news/bitcoin-amd-nvidia-crypto-boom-is-over-mizuho-says-2017-11-1009813614">Read more about the interplay of Nvidia and cryptocurrency miners.</a></h2><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/stock/NVDA-Quote"></a><a href="http://markets.businessinsider.com/stock/NVDA-Quote">Markets Insider</a></div></div></div>Get the latest Nvidia stock price<a href="http://markets.businessinsider.com/stock/NVDA-Quote"> here &gt;&gt;</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/bond-etfs-growing-in-popularity-2017-11">One type of ETF is taking over the market</a></h3> <div> </div> </div>

Nvidia is rising after announcing the 'most powerful GPU for the PC'

<ul><li>The 30-share BSE index Sensex was up 341 points, and the NSE Nifty was trading 0.74% higher at 9:50 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex rebounded in opening trade on Friday, led by intense buying in banking and IT stocks. The 30-share BSE index Sensex was up 341 points, and the NSE Nifty was trading 0.74% higher at 9:50 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr></tbody></table>*as of October 16, 10:00 am These are the top stocks in news today. IDBI Bank shares gain 10% The shares of IDBI Bank were up 10% after<a href="https://economictimes.indiatimes.com/markets/stocks/news/lic-keen-to-divest-its-stake-in-idbi-bank-report/articleshow/78683359.cms?from=mdr"> news reports </a>surfaced that the Life Insurance Corporation of India (LIC) which holds 51% stake in IDBI is keen to divest its stake. HCL Tech cracks 5% The shares of IT giant HCL cracked 5% during the early trading hours after its consolidated sales stood at ₹17842 crore down 4% from the previous quarter and down 8.61% from the year-ago quarter. United Phosphorus down 6% The shares of United Phosphorus cracked 6% after KPMG, Mauritius resigned as the auditor of UPL Corporation, effective October 8. However, UPL clarified that “the auditors viz. KPMG, Mauritius had in their letter to UPL Corporation Limited noted that there are no circumstances connected with its resignation which it considered should be brought to the notice of the members.” Voltas, Symphony, Amber Enterprises and Blue Star trade in green The shares of Voltas, Symphony, Amber Enterprises and Bluestar were trading in the green after the Indian government banned the import of air conditioners with refrigerants. This move aims to push domestic manufacturing of such goods under a self-reliant India programme. Voltas and Blue Star shares were up 4%, Symphony was up over 1%, and Amber Enterprises gained over 8%. Mindtree cracks 8% post-second-quarter results The shares of Mindtree cracked 8% after opening in green as the second quarter revenue remained flat at ₹1,926 crore compared to the same period last year. However, there was 88% jump in its net profit to ₹253.7 crore AstraZeneca Pharma India up 1% The shares of AstraZeneca Pharma India gained over a percent after the drug major said it would launch its Acalabrutinib 100 mg capsules under the brand name ‘Calquence’ on October 21 — the drug is used for the treatment of various types of blood cancers. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-jones-ends-lower-for-third-day-as-weak-jobless-claims-stimulus-impasse-weigh-on-sentiment/articleshow/78692395.cms" data-type="tilCustomLink"> Dow Jones ends lower for third day as weak jobless claims, stimulus impasse weigh on sentiment</a> <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-second-quarter-to-see-a-boost-from-cloud-adoption-analysts-expect-it-to-breach-3-5-revenue-growth-guidance/articleshow/78685100.cms" data-type="tilCustomLink">HCL Tech's second quarter to see a boost from cloud adoption — analysts expect it to breach 3.5% revenue growth guidance</a> <a href="https://www.businessinsider.in/defense/news/border-infrastructure-is-not-the-cause-of-friction-between-india-and-china-says-mea-spokesperson/articleshow/78681546.cms" data-type="tilCustomLink">Border infrastructure is not the cause of friction between India and China, says MEA spokesperson</a>

Top stock movers — IDBI Bank, HCL Tech, Voltas, Amber Enterprises, Blue Star, Hero MotoCorp and others

Dun & Bradstreet releases its 'India's Top 500 Companies 2021’ list

Autotech VenturesAutotech Ventures Managing Director Quin Garcia<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/autotech-ventures">Autotech Ventures</a> cofounder <a href="https://www.businessinsider.com/category/autotech-ventures">Quin Garcia</a> is a big believer in next-generation car technologies, such as <a href="https://www.businessinsider.com/category/electric-vehicle">electric</a> and <a href="https://www.businessinsider.com/category/autonomous-vehicle">autonomous vehicles</a>.</li><li>But his venture fund has intentionally avoided backing startups that are developing electric or self-driving cars for the masses.</li><li>Such companies require massive investment and are many years away from delivering returns, he said.</li><li>But Autotech is finding ways to place bets in those areas and in other areas where the transportation sector is being transformed by technology, such as in a startup working on self-driving mining vehicles and another that's built an online marketplace for auto repairs.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>Quin Garcia is a self-described "car guy."He's also a big believer that autonomous and electric vehicles will revolutionize the transportation industry and the broader society.But if you scrutinize the portfolio of Autotech Ventures, the transportation-focused venture capital firm that Garcia cofounded, you won't find any investments in companies developing or building cars for the masses - autonomous, electric, or otherwise. That's intentional, Garcia told Business Insider in a recent interview."Our job is to make money, and if we don't, we're out of business. So that's the ultimate lens through which we look when making investment decisions," Garcia said. "And when you are a financially motivated investor, you also have to think about [the] time horizon" for a payoff, he added.As transformational as electric and self-driving cars will eventually be, companies building them require huge investments, Garcia said. Tesla aside, it could be many years - maybe even decades - before investors in those kinds of companies see much of a return."As much as I want EVs here yesterday and for everyone to have one ... it's going to take time," he said.<h2>Autonomous vehicle startups face "a day of reckoning"</h2>Likewise, he continued, fully autonomous vehicles that can drive anywhere and everywhere are likely more than 10 years out."We're just too early to be investing in something that's more than 10 years away, so we stayed away," Garcia said.Indeed, in the autonomous area, he thinks a shakeout is coming among the numerous startups that are working on self-driving cars. The technological and regulatory obstacles to the rollout of such vehicles remain huge, even after years of investment, he said. And, he said some companies are likely going to run low on cash in the next year or so - long before there's a widespread market for autonomous vehicles."We think that there's a day of reckoning coming for a lot of these ... autonomous startups," he said.But Garcia thinks there are still ways to benefit in the much nearer term, from both the development of autonomous vehicle technology and the still nascent, but growing, market for electric cars. Autotech has placed bets in both areas, even if it's not investing in mainstream car companies, per se.In the electric car area, the firm has backed Volta, a startup that has rolled out a network of more than 1,000 charging stations around the country. Unlike other such companies, Volta doesn't charge consumers to juice up their cars. Instead, it makes its money on advertising. Its charging stations are designed to look like kiosks or digital billboards that carry ads, and it tries to place them in prominent areas, such as near the front of retail stores. As such, the company isn't dependent on the number of people who have electric cars, but on the much larger number of people who can see its ads."In Volta's case, they're selling eyeballs instead of electrons," he said.<h2>Mines will adopt self-driving vehicles much faster than consumers </h2>Similarly, in the autonomous area, the company is backing SafeAI, which is developing self-driving technologies for mining and construction vehicles, and Verdant Robotics, which is working on similar technologies for farm vehicles. Such vehicles generally won't be operated on public roads and instead will typically be operated on privately owned land, Garcia said. So, they won't have to worry about the complexities of navigating city streets or highways and the challenges of contending with human drivers, complicated street signs, or sometimes unpredictable pedestrians or bicyclists.Reuters / Joe PenneyBecause of that, such vehicles will likely face much less government regulation - and a significant market for them could develop much sooner than for fully self-driving cars for consumers."The time to market and the time to revenue is much shorter," Garcia said.And Garcia <a href="https://www.businessinsider.com/autotech-ventures-investor-alexei-andreev-reveals-biggest-transportation-innovations-2019-6">sees plenty of opportunities in the transportation sector outside of electric vehicles and self-driving car technologies</a>. Three other big trends are shaping the transportation industry writ large, he said - the connecting of vehicles to the internet, vehicle sharing, and the adoption of enterprise software by transportation-related companies. Autotech <a href="https://www.businessinsider.com/uber-vs-lyft-why-autotech-ventures-opted-for-lyft-2019-6">was a backer of Lyft</a> - Garcia and John Zimmer, the app-based taxi company's cofounder, were fraternity brothers in college. But many of its investments have been less high-profile.The firm focuses on finding and betting on early-stage companies in the transportation sector, often investing in the seed or Series A round. Autotech's limited partners include some of the major auto industry suppliers, including Murata Manufacturing and Denso. Garcia and his team also have other, long-standing connections in the transportation industry. Autotech's forte is helping connect those contacts to the transportation-related startups it backs, he said.Among the other firms in which it has invested outside of the autonomous and electric vehicle areas is Fixico, a European startup that's created a marketplace for car repair and body shop services. Instead of having to go from body shop to body shop to get quotes for a minor repair, customers can submit a picture and description through Fixico's website and request quotes for fixing it."Is that going to have as an enormous an impact on our society as autonomous? Nope," Garcia said. "But there's still a huge pain there and the opportunity is more near-term to solve that pain."It's not going take 10 years to solve the challenge of getting gouged by a mechanic."Got a tip about venture capital or startups? Contact this reporter via email at twolverton@businessinsider.com, message him on Twitter <a href="https://twitter.com/troywolv/">@troywolv</a>, or send him a secure message through Signal at 415.515.5594. You can also <a href="https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6"> contact Business Insider securely via SecureDrop</a>.<ul class="read-more-links"><li>Read more about venture capital and startups:</li><li><a href="https://www.businessinsider.com/precursor-vc-charles-hudson-offers-best-advice-for-pitch-decks-2019-11">A VC invests in dozens of companies each year and helps them raise their next round of funding. Here's his top advice for creating a winning pitch deck.</a></li><li><a href="https://www.businessinsider.com/precursor-charles-hudson-interview-silicon-valley-outsiders-2019-11">As billions of dollars flooded in to Silicon Valley, some startups and founders got left behind. Here's why this VC thinks there's still good money to be made investing in them.</a></li><li><a href="https://www.businessinsider.com/stoke-talent-used-this-pitch-deck-to-raise-45-million-2019-11">2 months after Israeli startup Stoke was founded, it raised $4.5 million. Here's the pitch deck it used.</a></li><li><a href="https://www.businessinsider.com/emergence-capitals-santi-subotovsky-is-bullish-on-enterprise-software-2019-11">Emergence Capital backed Salesforce before its IPO. Here's why one of the VC firm's partners thinks the $141 billion software giant is vulnerable to a next-generation enterprise software startup.</a></li></ul> <h3>NOW WATCH: <a href="https://www.businessinsider.com/ben-horowitz-what-companies-get-wrong-about-corporate-culture-2019-11">Legendary venture capitalist Ben Horowitz on culture mistakes most companies make, diversity in leadership, and the outlook for crypto</a></h3>

Autonomous vehicles are set to transform the transportation industry. But this VC is betting there are better ways to make money off them than backing self-driving car companies.

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<ul><li>The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> has proposed 15% capital adequacy as a benchmark and LIC Housing Finance is short of that.</li><li>The new restrictions proposed by the regulator will also limit the amount of dividend paid by other non-banking finance companies.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>. </li></ul>The Reserve Bank of India issued a draft circular that proposed restrictions on non-banking finance companies declaring dividends. And, according to analysis by Emkay, only two companies, LIC Housing Finance and M&amp;M Financial Services, in that space do not meet the conditions, under current circumstances, for paying dividends set by the central bank. However, M&amp;M Finance has clarified that it would be eligible. Not surprisingly, it took a toll on the two stocks. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Stock </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;">Losses on Dec 10 </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;">LIC Housing Finance </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;">-3.11% </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;">Mahindra and Mahindra Financial Services </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;">-3.35% </td></tr></tbody></table> The RBI has proposed a capital to risk weighted assets ratio (CRAR) of 15%. Simply put, CRAR is a measure of how much capital the company has compared to the riskiness of its loans. If the borrower fails to repay, the capital would be the cushion to absorb the loss. And LIC Housing Finance fails to meet the RBI threshold on this count. The capital adequacy ratio has been 14.4%% for the company in the last two financial years and 14.5% for the first half of the current one, the report said. The way out of this is that the company can raise money from the market to boost this figure past the 15% mark, and then, shareholders can expect a dividend. M&amp;M Financial, on the other hand, doesn’t make the cut on RBI’s benchmark for paying dividend because the amount of bad loans on its books is a little more than what the regulator likes. The circular has set the threshold at 4% while M&amp;M Financial has a net NPA (non-performing assets) of 4.7%. However, if the firm is able to recover enough loans by March 2021 to bring the metric below 4%, dividend may be back on the table. In the year before COVID-struck, the one ending in March 2019, the company paid a handsome 25.7% dividend to shareholders. On the other hand, in a statement to Business Insider, M&amp;M Financial stated “As per the circular, RBI has proposed a twin matrix of CRAR and NNPA and accordingly specified 4 categories based on a combination of both. CRAR of MMFSL has been above 18% for the last 3 years. Hence, the company will fall in Category B as per the matrix. Secondly, MMFSL’s net NPA at the end of September 30 was 4.7%, based on which our permissible dividend payout ratio is ‘up to 20%’,” the company said. This is not the first time the spotlight has fallen on M&amp;M Finance’s chunk of bad loans. The pandemic has only increased the risk of defaults and therefore the company too has been aggressively setting aside money to cover the losses if they occur. “As we progress, the next six months, which is normally the good six months, we would not see a decline in the gross NPA, and we will maintain our stance on aggressive provisions… if we start seeing things are not improving as we think, then we may take higher provision, whichever is necessary,” Vice Chairman and Managing Director Ramesh Iyer told Business Insider <a href="https://www.businessinsider.in/stock-market/news/mahindra-and-mahindra-finance-managing-director-gets-candid-about-the-rights-issue/articleshow/77212386.cms" data-type="tilCustomLink" target="_blank">in an exclusive chat in July 2020</a>. Here’s an excerpt of that interview: <div type="Youtube" id="Qu9KvcNr1iM" title="M&amp;M Financial MD explains how the company is preparing for the worst and hoping for the best" thumbUrl="https://i.ytimg.com/vi/Qu9KvcNr1iM/mqdefault.jpg"></div> For other NBFCs that are eligible to pay dividend, there may be a cap on how much they can dole out based on the benchmarks set by the RBI. These are the likely limits on dividends given the current financial health of the following firms. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Company </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;">Dividend limit </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;">Bajaj Finance </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;">Up to 45% </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;">Cholamandalam Finance </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;">Up to 30% </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;">HDFC </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;">Up to 45% </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;">L&amp;T Finance Holdings </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;">Up to 25 </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;">Magma Fincorp </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;">Up to 25% </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;">Shriram City Union Finance </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;">Up to 25% </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;">Shriram Transport Finance </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;">Up to 25% </td></tr></tbody></table>Source: Emkay SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/the-33-billion-itc-one-of-indias-most-trolled-stock-in-recent-weeks-seems-to-have-turned-a-corner/articleshow/79641456.cms">The $33 billion ITC, one of India’s most-trolled stock in recent weeks, seems to have turned a corner</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/the-33-billion-itc-one-of-indias-most-trolled-stock-in-recent-weeks-seems-to-have-turned-a-corner/articleshow/79641456.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" 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