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<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

Rising temperatures in India have made air conditioners a necessity for every household. Be it the living room, bedroom, or commercial space such as a shop, an effective AC is something we all need. Voltas is one of the most preferred and reliable brands when it comes to ACs. They are equipped with different sets of features like air filters, turbo mode, economical mode, variable fan speed, digital display, WiFi connectivity and more. However, buying an air conditioner can be confusing as there are a plethora of options available in the market. To help you out, we have curated a list of some of the best Voltas Split and Window ACs that you can buy. But first, here are a few things to consider before buying an air conditioner in 2022. <cmsannotation type="cmsannotation" annotationid="Type of AC – Window or Split" comment="subhead" text="Type of AC – Window or Split">Type of AC – Window or Split</cmsannotation> Window ACs are cheaper and easy to install when compared to split ACs. However, Window ACs are noisier when compared to split ACs. Split AC provides better air distribution and they are more beautiful to look at. Also, they provide faster cooling and are reliable for long-term use. Before choosing the AC type, consider your usage, room size and budget because Split ACs are more expensive than Window ACs. <cmsannotation type="cmsannotation" annotationid="Air quality" comment="subhead" text="Air quality">Air quality</cmsannotation> No matter which AC you choose, it must improve the indoor air quality. It should have filters to provide clean air by trapping impurities, smoke and unpleasant smell. If the AC has a dehumidification unit then it's a bonus as it reduces humidity in the air, which is useful in coastal areas, and in the monsoons. So before buying any type of air conditioner make sure it has the capability of improving air quality. <cmsannotation type="cmsannotation" annotationid="Installation and maintenance" comment="subhead" text="Installation and maintenance">Installation and maintenance</cmsannotation> Some air conditioners are easy to install but require heavy maintenance. For example, Split ACs come with a compressor unit which makes it difficult to install whereas Window ACs do not have any extra unit, they are simply attached to the window. <cmsannotation type="cmsannotation" annotationid="Speed" comment="subhead" text="Speed">Speed</cmsannotation> Today, air conditioners are available with a thermostat and multiple speed options allowing you to achieve variable fan speed and swing. It is worth considering the speed factor before buying AC as it will allow you to set fan speed and swing according to your needs. <cmsannotation type="cmsannotation" annotationid="Energy efficiency" comment="subhead" text="Energy efficiency">Energy efficiency</cmsannotation> Before you buy an AC, make sure there is a star rating for energy efficiency labeled on it. Higher the star rating, the better the energy efficiency of the AC. <cmsannotation type="cmsannotation" annotationid="Best Voltas AC that you can buy right now" comment="subhead" text="Best Voltas AC that you can buy right now"><keyword id="14801229" type="General" weightage="20" keywordseo="best-voltas-ac" source="Orion">Best Voltas AC</keyword> that you can buy right now</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Voltas 1 Ton 3 Star Window AC" comment="subhead" text="Voltas 1 Ton 3 Star Window AC">Voltas 1 Ton 3 Star Window AC</cmsannotation> <cmsannotation type="cmsannotation" annotationid="B00LWRFC1W" comment="amazoncard" text="B00LWRFC1W">B00LWRFC1W</cmsannotation> This Voltas AC is compact in size yet durable making it an ideal pick for small rooms. The AC has a louvre design that gives higher airflow and cools the room in a short period. In addition, it maintains ideal room temperature by eliminating excessive cooling. Further, you can avail instant 10% on selected bank cards, no-cost EMI, and cashback by using the Amazon Pay ICICI credit card. <cmsannotation type="cmsannotation" annotationid="Voltas Inverter 1.5 ton split air conditioner" comment="subhead" text="Voltas Inverter 1.5 ton split air conditioner">Voltas Inverter 1.5 ton split air conditioner</cmsannotation> <cmsannotation type="cmsannotation" annotationid="B09WDP2DLF" comment="amazoncard" text="B09WDP2DLF">B09WDP2DLF</cmsannotation> This Split AC from Voltas features an anti-dust filter making it suitable for living rooms, bed rooms, commercial spaces and more. Currently, you can avail an instant 10% discount on this AC by using selected bank cards. Also, you can buy it at no-cost EMI and save ₹5,070 on exchange. <cmsannotation type="cmsannotation" annotationid="Voltas 2 Ton 5 Star Inverter Split AC" comment="subhead" text="Voltas 2 Ton 5 Star Inverter Split AC">Voltas 2 Ton 5 Star Inverter Split AC</cmsannotation> <cmsannotation type="cmsannotation" annotationid="B089WBWNS1" comment="amazoncard" text="B089WBWNS1">B089WBWNS1</cmsannotation> This Voltas 2 Ton 5 Star Inverter Split AC is equipped with a variable speed compressor that adjusts the power depending on the heat load. It offers a capacity of two tons and is suitable for large-sized rooms. The AC uses copper condenser coils that are efficient and durable. It comes with an active dehumidifier that removes excess moisture from the air. It comes with a five star energy efficiency rating, ensuring that your bills are not too high. <cmsannotation type="cmsannotation" annotationid="Voltas 1.5 Ton 3 Star Window AC" comment="subhead" text="Voltas 1.5 Ton 3 Star Window AC">Voltas 1.5 Ton 3 Star Window AC </cmsannotation> <cmsannotation type="cmsannotation" annotationid="B00NBM4LJ0" comment="amazoncard" text="B00NBM4LJ0">B00NBM4LJ0</cmsannotation> The Voltas 183CYA/183 CZP Window AC comes with a capacity of 1.5 ton and is equipped with a 100% copper condenser which is durable and offers efficient cooling. It comes with a high ambient cooling feature that offers instant cooling even at 50-degree temperatures. It is equipped with an active dehumidifier that monitors indoor humidity. It comes with a 2-stage filtration process that removes dust, allergens, odours and other harmful particles from the air. <cmsannotation type="cmsannotation" annotationid="Voltas 1.5 Ton 5 Star Inverter Split AC" comment="subhead" text="Voltas 1.5 Ton 5 Star Inverter Split AC">Voltas 1.5 Ton 5 Star Inverter Split AC</cmsannotation> <cmsannotation type="cmsannotation" annotationid="B088SR7NWW" comment="amazoncard" text="B088SR7NWW">B088SR7NWW</cmsannotation> This split AC from Voltas has a modern design and is equipped with a BLDC twin rotary compressor. It is said to cover 16.72 sq.m seamlessly. Besides this, it comes with a rated cooling capacity of 5200 Watts, giving perfect cooling results. Currently, by using Amazon Pay ICICI credit card buyers can avail rewards worth ₹1700. Other than this, by using selected bank cards get an instant discount of 10%. <cmsannotation type="cmsannotation" annotationid="Panasonic 1.5 Ton 5 Star Wi-Fi Inverter Smart Split AC" comment="subhead" text="Panasonic 1.5 Ton 5 Star Wi-Fi Inverter Smart Split AC">Panasonic 1.5 Ton 5 Star Wi-Fi Inverter Smart Split AC</cmsannotation> <cmsannotation type="cmsannotation" annotationid="B0BRJ1973T" comment="amazoncard" text="B0BRJ1973T">B0BRJ1973T</cmsannotation> The Panasonic 1.5 Ton 5 Star Wi-Fi Inverter Smart Split AC has a cooling capacity of 1.5 tons, making it suitable for medium-sized rooms. The air conditioner has a 5-star rating, indicating high energy efficiency. It also comes with a Wi-Fi connectivity feature, allowing remote control and access via a smartphone app. The AC uses an inverter compressor, which adjusts the compressor speed according to the room's cooling requirement, resulting in energy savings. The air conditioner also has an air purification system, which filters out dust, pollutants, and allergens, making it a good option for those with respiratory issues. The AC has a sleep mode, which gradually adjusts the temperature for a comfortable sleep experience. DISCLAIMER: The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

Best Voltas split and window ACs to buy in 2023

<ul><li>At 7:50 am, the SGX Nifty was up 0.52%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for 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 are likely to open in green on Monday, on the back of positive cues from the Asian peers. At 7:50 am, the SGX Nifty was up 0.52%, indicating a strong start for Nifty50. Other Asian markets were also trading in green such as — Hang Seng Index up over 1.1%, Nikkei 225 up 2% and Shanghai Composite Index was also up over 1%. These are the stocks to watch out for during the trading session today: Cipla The pharma giant Cipla reported a 38.95% jump in its consolidated net profit to ₹659.35 crore for the quarter ended September 30, led by the robust sales in all markets. The company said a sustained focus on cost optimisation during the quarter helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23%. The shares of Cipla ended 0.62% lower on Friday. ITC On Friday, Consumer staples-to-hospitality major ITC reported an 18.23% drop in its consolidated net profit to ₹3,413.44 crore. The drop came despite a 2.18% growth in its revenue from operations to ₹13,147.81 crore during the period under review. Its FMCG segment delivered a decent sales growth of 15.4% (YoY), but wasn’t enough to offset the volume decline of 12% in its cigarette segment. The shares of ITC ended 0.54% lower on Friday. Divi’s Labs Drug firm, Divi’ ’s Laboratories, reported a 45.63% rise in its consolidated net profit to ₹519.59 crore for the quarter ended September 30, mainly on account of robust sales. Consolidated total income stood at ₹1,762.94 crore compared to ₹1,492.60 crore for the same period a year ago. The shares of Divi’s Labs ended 0.40% higher on Friday. Biocon Kiran Mazumdar Shaw-led Biocon’s subsidiary, Biocon Biologics, had received a ₹1,125 crore investment from Goldman Sachs. This capital injection will enable Biocon Biologics to make prudent investments in R&amp;D, high-quality manufacturing, as well as, establish a global commercial footprint, the company said. The shares of Biocon ended 0.17% higher on Friday. Lakshmi Vilas Bank Private sector Lakshmi Vilas Bank (LVB) reported a net loss of ₹397 crore in the second quarter ended September 30 due to a rise in bad loans and provisions. Sequentially, the loss widened against ₹112.28 crore in the June quarter of this fiscal. The<a href="https://www.financialexpress.com/industry/banking-finance/made-significant-progress-with-clix-group-says-lakshmi-vilas-bank/2123468/"> bank also said</a> that despite logistical challenges arising due to the COVID-19 situation, the bank has made significant progress with Clix group for the proposed amalgamation of Clix Capital Service and Clix Finance India into the bank. The shares of Lakshmi Vilas Bank ended 0.64% higher on Friday. Voltas Electronics major Voltas reported 25.74% decline in consolidated net profit to ₹79.66 crore for the quarter ended September 30. The company also decided to restructure its business; it would transfer 100% of the B2B businesses to its wholly-owned subsidiary — Rohini Industrial Electricals Ltd (RIEL). The shares of Voltas ended 1% higher on Friday. Vedanta Vedanta reported a 61.8% decline in consolidated net profit to ₹824 crore for the quarter ended September 30, on the back of one-time tax expense. The decline came despite the stellar 33% growth in its revenue to ₹20,804 crore during the quarter under review. The shares of Vedanta ended 0.21% higher on Friday. Tata Consumer Products Tata Consumer Products reported an 18% rise in consolidated net profit to ₹234.33 crore for the quarter ended September 30, helped by an increase in domestic sales and volumes. Its revenue from operations was up 18.50% to ₹2,781.34 crore during the quarter under review. The shares of Tata Consumer Products ended 0.64% higher on Friday. IndiaMART InterMESH, Equitas SFB and VIP Industries IndiaMART InterMESH, Equitas SFB and VIP Industries are slated to report their second-quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-world-has-surpassed-50-million-confirmed-coronavirus-cases/articleshow/79116745.cms">The world has surpassed 50 million confirmed coronavirus cases</a> <a href="https://www.businessinsider.in/politics/world/news/this-is-the-time-to-heal-in-america-president-elect-joe-biden-uses-his-victory-speech-to-address-a-fractured-country/articleshow/79108211.cms">'This is the time to heal in America': President-elect Joe Biden uses his victory speech to address a fractured country</a>

Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others

<ul><li>The US stocks ended lower on Thursday as hopes of a US coronavirus stimulus deal and US jobless claims weighed heavy on the market. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed sentiments from the global markets, the Indian equities are likely to open flat on Friday. In the Asian market, the SGX Nifty was trading 0.73% higher at 7:51 am, indicating a positive start for Nifty50. However, the US stocks ended lower on Thursday as hopes of a US coronavirus stimulus deal and US jobless claims weighed heavy on the market. The Dow Jones Industrial Average slid 19.80 points, whereas the S&amp;P 500 fell 0.15%. These are the stocks to watch out for during the trading session on October 16: Mindtree Larsen &amp; Toubro (L&amp;T) owned Mindtree posted an 88% jump in its net profit to ₹253.7 crore for the second quarter ended September 30. The company’s revenue for the quarter stood at ₹1,926 crore, marginally up 0.6% year-on-year. The shares of Mindtree ended over 7% lower yesterday. IndiaMart InterMesh The Indian e-commerce company IndiaMart InterMesh has clarified that the media reports claiming potential investment opportunities from Tata Group were incorrect and purely speculative in nature. The shares of IndiaMart InterMesh ended flat yesterday. Persistent Systems The technology services company Persistent Systems said it has entered into an agreement to acquire the US-based CAPIOT Software for $6.34 million (₹465.42 million). The shares of Persistent Systems ended 6% lower yesterday. AstraZeneca Pharma India The drug major AstraZeneca Pharma India 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. The shares of AstraZeneca Pharma India ended flat yesterday. Dhanuka Agritech The agrochemical company Dhanuka Agritech’s ₹100 crore buyback will open on October 20 and remain open until November 2. The shares of Dhanuka Agritech ended 2% lower yesterday. Sun Pharma The drug major Sun Pharma clarified to stock exchanges that it had not received any information or notice either from SEBI or anyone regarding the news of SEBI probe of its ex-board member Ashwin Dani. The shares of Sun Pharma ended 3% lower yesterday. Bharti Airtel Competition Commission of India approved completion of the first closing of the telecom giant Bharti Airtel subsidiary Nxtra Data to the Carlyle Group. The shares of Airtel ended 4% lower yesterday. Voltas, Symphony, Bluestar, among others The shares of Voltas, Symphony, Bluestar will also remain in focus during the trade today as the Indian government has banned the import of air conditioners with refrigerants. This move aims to push domestic manufacturing of such goods under a self-reliant India programme. HCL Technologies, Federal Bank, Tata Communications, Bajaj Consumer Care and others <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">HCL Technologies,</a> Federal Bank, Tata Communications, Bajaj Consumer Care among others are slated to report their second-quarter earnings today. 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" style=""> 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" style="">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 stocks to watch — HCL Tech, Airtel, IndiaMart, Mindtree, AstraZeneca Pharma, Sun Pharma, Voltas, and others

<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

<ul class="summary-list"><li>Tortoise Acquisition Corp. II spiked as much as 47% on Monday on news of a merger deal with <keyword id="10727141" type="UNKNOWN" weightage="60" keywordseo="volta-industries">Volta Industries</keyword>.</li><li>Volta Industries develops, manufactures, installs, and operates a network of EV charging stations.</li><li>The deal will see the combined entity trade on the NYSE under "<keyword id="10727140" type="UNKNOWN" weightage="60" keywordseo="vlta">VLTA</keyword>" with a valuation of over $2 billion.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/snpr-stock">Tortoise Acquisition Corp. II</a> spiked as much as 47% on Monday before paring gains after the special purpose acquisition company (<keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword>) announced a merger deal with the <keyword id="5905063" type="UNKNOWN" weightage="60" keywordseo="EV-Charging-station">EV charging station</keyword> manufacturer Volta Industries.Volta will net $600 million from the transaction including a $300 million investment from BlackRock, Fidelity Management &amp; Research, and Neuberger Berman Funds that will be used to accelerate the company's charging network buildout.The combined entity will be listed on the NYSE under the ticker "VLTA" and is valued at over $2 billion, <a href="https://www.sec.gov/Archives/edgar/data/1819584/000121390021007256/ea134805ex99-1_tortoiseacq2.htm">according to regulatory filings</a>.Read More: <a href="https://www.businessinsider.com/ipo-boom-bubble-investing-strategy-picks-risks-etf-renaissance-capital-2021-2?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">Wall Street's resident IPO expert shares the strategy behind her ETF that returned 107% last year - plus 3 risks to the current IPO boom and 5 offerings to watch this year</a>Volta Industries operates a charging network that includes <a href="https://voltacharging.com/drivers/">1602 stations</a> across the US. The company was founded by Scott Mercer and Chris Wendel back in 2010."Volta's unique business model is poised to capture the vast consumer spending shifts that will accompany our society's shift from carbon to electric," said Scott Mercer, Founder and CEO of Volta."With the shift to electric mobility, consumers will expect to fuel where they go. Volta will anchor the infrastructure change, transforming fueling locations away from standalone gas stations to high traffic locations in the community where consumers live, work, and play," Mercer concluded.SPAC IPOs have boomed. 2020 saw a 462% year-over-year jump in proceeds raised by SPACs. For the first time ever, companies <a href="https://markets.businessinsider.com/news/stocks/spacs-raised-73-billion-more-than-traditional-ipos-blank-checks-2020-12-1029906693">raised more money through SPAC deals</a> than the typical IPO process, at $73 billion versus $67 billion.Just a few weeks before Volta's SPAC deal another EV charging business, EVgo Services, said it would go public through a $2.6 billion SPAC merger.Now, Volta will add to the list, after having already raised some $200 million in Series D financing over the past few years.Read More: <a href="https://www.businessinsider.com/stock-market-analysis-key-changes-market-dynamics-reflation-goldman-sachs-2021-2?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">Goldman Sachs says the reflation trade is on and these 5 market dynamics that could 'shift materially' as price pressures build</a>

SPAC Tortoise Acquisition Corp. II spikes 47% after announcing merger with EV charging station manufacturer Volta Industries

<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" href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms">EXCLUSIVE: This Indian unicorn helping Google, Microsoft and Apple manage their contracts is hiring⁠— it needs techies as well as people in sales</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tata-group-company-voltas-is-telling-analysts-that-it-may-hike-ac-prices-by-3-4-to-cover-rising-input-costs/articleshow/79624340.cms">Voltas is telling analysts that it may hike AC prices by 3-4% to cover rising input costs</a>

How RBI's proposed restrictions may affect your dividends

<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

<ul><li>The SGX <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> was trading nearly a percent higher.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid mixed cues from the global market, Indian stock-market indices are likely to open lower on Friday. On Thursday, the Dow Jones Industrial Average fell 0.29% or 80.12 points, due to the newly-released US unemployment data. However, at 8:05 am, the SGX Nifty was trading nearly a percent higher. These are the <keyword id="6354298" type="DEFINITION" weightage="20" keywordseo="Stocks">stocks</keyword> to watch out for during the trading session on August 14: <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> Domestic steel major Tata Steel posted a consolidated net loss of ₹4,648.13 crore for the quarter ended June, mainly on account of reduced income. However, on a standalone basis, the company managed to maintain profitability despite a significant reduction in income. According to the filing, Tata Steel posted a standalone net profit of ₹1,193.27 crore in the quarter under review, down from ₹ 1,538.99 crore last year. The shares of Tata Steel ended flat yesterday. <keyword id="44555" type="CITY" weightage="20" keywordseo="BPCL">BPCL</keyword> Bharat Petroleum Corporation Ltd (BPCL), the highlight among the host of state-run companies put on the block by the government reported a 93% increase in its standalone net profit for the April-June quarter at ₹2,076.17 crore. The rise in profits was largely backed by a 43.22% fall in its total expenditure during the period under review to ₹48,284.06 crore. The shares of BPCL ended nearly 1% lower yesterday. <keyword id="6357252" type="UNKNOWN" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> The country’s largest two-wheeler maker Hero posted a 95.38% decline in consolidated net profit at ₹57.78 crore for the first quarter ended June 30, on account of lower sales due to the coronavirus pandemic. The total income during the quarter under review declined to ₹3,119.22 crore as compared with ₹8,410.41 crore in the year-ago period. The shares of Hero ended nearly 2% lower yesterday. <keyword id="80296" type="CITY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> Eicher Motors arm VECV acquired Volvo Group’s bus business in India for ₹100.5 crore. Definitive agreements have been signed for the integration of Volvo Bus India (VBI) business into VECV, Eicher Motors said in a statement. The company also reported a consolidated net loss of ₹55 crore for the first quarter ended June 30, with sales adversely hit due to COVID-19 pandemic. The shares of Eicher ended over 2% lower yesterday. Bank of India The board of the Bank of India has approved raising up to ₹8,000 crore by preferential issue, QIP, further public offer, etc. The shares of BoI ended over 1% lower yesterday. Jindal Steel and Power Jindal Steel and Power Ltd (JSPL) has started supplying head hardened (HH) rail to Rail Vikas Nigam Ltd (RVNL) for the Kolkata Metro’s Joka-Esplanade corridor. HH rails are used in high-speed freight corridors and metro rail projects. In a statement, JSPL said the company was selected by RVNL after a bidding process to supply 3,000 tonnes of HH rails for Kolkata metro rail tracks. The shares of JSPL ended nearly 2% higher yesterday. SpiceJet and IndiGo SpiceJet's passenger load factor in July was at 70% up from 68% in June. However, the market share declined from 16.8% in June to 15.7% in July. Similarly, IndiGo's passenger load factor in July was almost flat at 60.2%. However, its market share in July was up at 60.4% compared to 52.8% in June. The shares of SpiceJet and IndiGo ended over 2% and 12% higher, respectively, yesterday. Hindalco, Berger Paints, Glenmark Pharmaceuticals, Voltas These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/eicher-motors-registers-first-ever-net-loss-of-55-crores-in-at-least-a-decade/articleshow/77526012.cms" data-type="tilCustomLink">Eicher Motors registers first-ever net loss of ₹55 crore in at least a decade</a> <a href="https://www.businessinsider.in/business/startups/news/masayoshi-son-best-bet-for-future-profit-is-paypay-in-japan-built-on-vijay-shekhar-sharma-paytm-model-in-india/articleshow/77518892.cms" data-type="tilCustomLink">Masayoshi Son’s best bet for future profit is PayPay in Japan⁠ — built on Vijay Shekhar Sharma’s Paytm model in India</a>

You Searched For "voltas market share" and got 9 results

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