ELECTRICITY EXCHANGE
Will consumer durables & EMS stocks see another round of re-rating? 7 stocks with an upside potential of up to 24%
There are talks of the budget being focussed on two things, one giving continued push to investment and second to increase the disposable income in the hands of people. The second could be done by cutting taxes or making changes with the tax slab. While many sectors will feel the impact but one of the sectors which may feel maximum impact is the consumer durable sector. Now given the fact that the consumer durable sector has a closed link with the EMS companies, they both have to be looked at together. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Crompton Greaves rises 0.12% as Sensex climbs
The stock traded at a P/E multiple of 60.38, while the price-to-book value ratio stood at 5.73.
Crompton Greaves stock price up 1.2 per cent as Sensex climbs
As of 31-Mar-2024, promoters held 0.0 per cent stake in the company, while FIIs held 32.18 per cent and domestic institutional investors had 40.21 per cent.
Ola Electric to invest $100 mn in first phase of Gigafactory, says Bhavish Aggarwal
Ola Electric, the electric vehicle manufacturer, plans to invest $100 million in the first phase of building its Gigafactory for producing lithium-ion battery cells. The investment will be used for 'phase 1A' of the Gigafactory, which will set up 1.5 GWh of cell manufacturing capacity. The aim is to expand capacity to 5 GWh in 'phase 1B'.
Ola Electric to invest $100 million in gigafactory
Ola Electric founder Bhavish Aggarwal said is developing a 4680 form of battery cells, which is more energy-dense and advanced than the 2170 form of battery cells it currently sources for its electric scooters.
Crompton Greaves shares down 0.97% as Nifty gains
The stock quoted a 52-week high price of Rs 436.6 and low of Rs 262.1.
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VinFast making a tiny EV for about Rs 8 lakh to change its fortunes. Is it coming to India?
Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal", according to VinFast. The VF3 might also appeal to Indian families looking for a compact car with a range suitable for getting around in India's crowded cities.
Ola Electric secures Sebi approval for Rs 5,500 crore IPO
Ola Electric's IPO would be the first by an EV startup in the country and amongst the biggest new-age IPOs this year. The Bengaluru-based company had filed its DRHP with Sebi on December 22, proposing to raise up to Rs 5,500 crore through a fresh issue, apart from an OFS component of 95.2 million shares.
General Catalyst-Venture Highway deal; Sebi clears Ola Electric IPO
Silicon Valley investor General Catalyst has acquired Indian early stage fund Venture Highway. More on this in today’s ETtech Top 5.
Ola Electric, Emcure Pharma get Sebi nod for IPOs, setting stage for big listings
The Bengaluru-based company had filed its draft prospectus with Sebi in December last year. The issue comprises a fresh equity sale of Rs 5,500 crore and an offer-for-sale (OFS) of 95.2 million shares.
Ola Electric gets Sebi nod for public offer
Ola Electric, set for a $6 billion IPO, plans layoffs amid IPO filings by Swiggy and FirstCry.
Ola Electric IPO: All about the first EV startup IPO in India
Ola Electric, a Bengaluru-based EV startup, receives Sebi approval for IPO, marking a milestone in Indian EV industry. Founder Bhavish Aggarwal informed employees about the regulatory green light.
Ola Electric secures Sebi nod for Rs 5,500-crore IPO
Ola Electric has received approval from Sebi for the first EV startup IPO in India. This would be among the biggest new-age IPO in India this year. Swiggy and FirstCry have also filed their draft IPO paper and awaiting regulatory clearance. The Bengaluru-based company is eyeing a $6-billion valuation through the public offering.
Expo Centre Sharjah signs agreement to launch Middle East Electric Vehicle Show 2025
Expo Centre Sharjah (ECS) has forged a strategic partnership with MIE Events to debut the Middle East Electric Vehicle Show (MEEVS) in 2025 at the Centre. This groundbreaking agreement paves the way for the region's premier electric vehicle event, set to feature over 100 leading global brands. MEEVS aims to spotlight the future of sustainable transportation by showcasing cutting-edge electric, hydrogen, and hybrid vehicles, as well as electric bikes, and innovative technologies in the electric transport sector.
Crompton Greaves stock price down 0.51 per cent as Sensex climbs
As of 31-Mar-2024, promoters held 0.0 per cent stake in the company, while FIIs held 32.18 per cent and domestic institutional investors had 40.21 per cent.
Electricity trade volumes on IEX jumps nearly 29 pc to 10,633 mn units in May
Indian Energy Exchange's trade volume grew by 29% in May, with electricity volumes increasing by 21%. The renewable energy certificates (RECs) surged by 640.3% yearly, impacting obligated entities and voluntary customers. Proactive measures by the government and regulators influenced trading platforms and market prices.
Despite record peak demand, power exchange prices remain lower than last year's peak period
The average daily price in the day-ahead market on the power exchange remained lower in May compared to peak periods last year, despite record-high peak demand. This indicates sufficient energy supply from various sources. The average price during May was ₹5.30 per unit, lower than last year's peak period of mid-August to mid-September, which was ₹7.75 per unit. Increased hydro and wind power generation have contributed to this improvement in supply. Even during days of record peak demand, prices remained relatively low on average.
Thematic focus on infra, renewables and real estate likely to continue: Harsh Gupta Madhusudan
Chinese valuations are roughly half of India's, but Chinese earnings growth is also significantly lower. The China trade is more tactical and opportunistic.
NSE launches Nifty500 Equal Weight index; base date April 1, 2005
The index will serve as a benchmark for asset managers and a reference index for passive funds such as ETFs, index funds, and structured products, according to the release.
NSE Indices launches India’s first electric vehicle index
NSE’s index services subsidiary, Nifty EV & New Age Automotive index, will track the performance of companies forming a part of the EV ecosystem. With the base date fixed on April 2, 2018, and the base value at 1,000, the index will be reconstituted semi-annually and rebalanced on a quarterly basis.
Stock gaming apps under Sebi scanner; ETtech Done Deals
The capital markets regulator is cracking down on illicit gaming apps that offer virtual trading services and fantasy games. This and more in today’s ETtech Top 5.
How is the violent unrest in New Caledonia impacting global nickel prices?
Global nickel prices have surged following violent unrest in New Caledonia, a major nickel producer. Social unrest erupted over French constitutional changes allowing certain residents to vote in elections. New Caledonia holds significant nickel reserves, critical for electric vehicles and other industries. The turmoil has disrupted supplies, contributing to the price spike.
Axis Capital upgrades IEX rating, raises target price to Rs 170
Axis Capital upgraded IEX to 'add' from 'sell', raising the target price to Rs 170, citing improved growth prospects for exchanges. With expectations of rising electricity and gas volumes, IEX anticipates robust earnings growth in FY25.
Domestic copper at lifetime highs; factors affecting the price surge
Record copper prices are driven by Chinese stimulus, mine supply concerns as well as green demand. MCX and LME futures surge. The Chinese 1 trillion yuan stimulus has boosted industrial metals demand for electric vehicles, renewable energy, and power grids. Goldman Sachs predicts major copper market deficit with US manufacturing rebound.
IEX shares rally 9% in 3 days after Q4 results beat
IEX reported a 14.7% YoY increase in its PAT on May 15 along with a revenue at Rs 149.5 crore for the fourth quarter of the financial year 2024.
IEX shares rally 4% after company reports 15% jump in Q4 PAT
IEX Share Price: Indian Energy Exchange (IEX) shares surged by 4% on Wednesday on the Bombay Stock Exchange (BSE), reaching a high of Rs 151.30 for the day. This increase followed the company's announcement of a 14.7% year-on-year (YoY) rise in its quarterly profit after tax (PAT), reaching Rs 95.1 crore for Q4FY24
Hero MotoCorp Q4 Results: Profit rises 18% YoY to Rs 1,016 crore
Hero MotoCorp declared a final dividend of Rs. 40 per share. This dividend together with interim and special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal, of Rs.100 per equity share, takes the aggregate total dividend for the year 2023- 24 to Rs. 140 per equity share.
Buses will see more traction in electric technology as compared to trucks: Vinod Aggarwal, VECV
It was basically recovering from the COVID period. And now, I would say you are right that the nominal GDP growth is 12%, 13%, the CV industry overall should grow better than that and we will see that happening I think in the future, it will happen.
Govt amends rules to mandate gencos to give surplus power to exchanges
The government has amended the Electricity (Late Payment Surcharge and Related Matters) Rules of 2022 to ensure adequate supply of electricity to consumers. The amendments include changes related to surplus power, late payment surcharge, and access to the national power grid. Union Minister R K Singh announced the key amendment regarding surplus power and the eligibility criteria for power generators.
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