EV MARKET IN INDIA
Ather Energy narrows Q4 losses by 17%; revenue rises 29% to Rs 676 crore
Sales for the Bengaluru-based electric two-wheeler maker climbed 35% in Q4 FY25 to around 47,400 units, largely driven by its recently launched family e-scooter, Rizta. For the full year, volumes grew 42% to 155,394 units from 109,577 in FY24. According to founder and CEO Tarun Mehta, during the year, the company grew from a single product line business to seven products and two product lines with Rista and Ather 450.
Expect India PV wholesale growth at 1-2% in FY26, Maruti to outpace industry growth: Suzuki
Suzuki Motor Corporation anticipates a modest 1-2% growth in India's passenger vehicle market for 2025-26, while Maruti Suzuki aims to surpass this industry growth. With significant investments, approximately 50% of its 380 billion yen capital expenditure will be directed towards India, focusing on expanding production capacity.
PPS Motors Launches MG Windsor PRO in Hyderabad
JSW MG Motor India launched the MG Windsor PRO in Hyderabad, featuring a new 52.9 kWh battery, enhanced safety with ADAS L2, and Vehicle2Load/Vehicle2Vehicle tech. Priced at INR 17,49,800 for the first 8,000 bookings, it aims to boost EV adoption.
Buy Sapphire Foods India, target price Rs 365: JM Financial
JM Financial maintains a Buy call on Sapphire Foods, setting a target price of Rs 365, citing attractive valuations despite near-term demand challenges. Sapphire's revenue grew 13% YoY, driven by KFC and Sri Lanka businesses, while Pizza Hut faced headwinds. The brokerage has revised its EBITDA estimates downwards due to weak demand and slow SSSG recovery.
IPL Portfolio: Mid-innings, momentum & market mavericks — smallcase manager Piyush Mehta picks his dream 11
As markets play through a mid-innings slowdown, Piyush Mehta of Caprize Investment builds his Dream 11 portfolio with a mix of aggressive openers and steady all-rounders.
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Multibagger or IBC (Series: AA 125), Part 5: This company, at the right place at the right time
In its 2017-18 annual report, this company stated: “The future belongs to Electric vehicles (EVs), and LEDs will be significantly efficient on these vehicles” and that “plans are on the anvil to localise products (for EVs)”. The 2021-22 annual report shows it was not all tall talk. The company, it said, had set up a “state-of-the-art electronics plant in Bawal, Haryana, where [it] will manufacture cutting-edge electronic components and technology software – focusing on developing EV components. Cut to Q3FY25: 33% of its total order book of Rs. 2,600 crore comes from EVs.
Explainer: India-UK free trade agreement -- all you need to know
India and the UK have concluded negotiations for a free trade agreement, aiming to double bilateral trade to USD 120 billion by 2030. The pact eliminates import duties on 99% of Indian goods entering the UK, while India safeguards sensitive sectors.
Why it's time to mend India's broken EV financing ecosystem
A unified approach involving OEMs, financiers, and regulators is crucial to establish data-driven underwriting and a robust used EV market, fostering a sustainable electric future.
Debunking Myths: The game changing benefits of EVs
EVs are increasingly recognized as a pivotal solution to the pressing environmental challenges faced both in India and globally. However, persistent myths and misconceptions about EVs are being perpetuated by certain vested interests to foster uncertainty among potential EV buyers. It’s important to bust these myths so the public has access to accurate, evidence-based information about the advantages of EVs.
India-UK FTA: No minimum import price for Scotch
India's FTA with the UK excludes minimum import prices for liquor. Tariffs on alcoholic beverages are halved initially, decreasing further over ten years. Automobile tariff concessions are extended based on engine capacity and EV prices. UK suppliers can bid on tenders above Rs 200 crore.
India UK FTA paves way for similar agreements with countries like USA, EU: Bank of Baroda
The recently concluded Free Trade Agreement between India and the United Kingdom is expected to benefit both nations economically and could also pave the way for similar agreements with other countries such as the United States and the European Union, says a report by Bank of Baroda.
No froth in market; largecaps may offer short-term value: Manish Gunwani
Manish Gunwani of Bandhan AMC suggests Indian equity markets aren't in a bubble, citing reasonable long-term real returns. He sees value in thematic and bottom-up investing, anticipating sustained market appeal driven by potential foreign capital inflows over the next three to five years. Favorable dollar trends and resilient service exports further support a positive outlook for Indian assets.
India-UK FTA: Auto duty cuts in 10-15 yrs; safeguards in place to protect industry
India and the UK have finalized a free trade agreement. It aims to double commerce by 2030. The deal lowers tariffs on Indian exports. British firms will find it easier to export to India. Duty reductions on cars will occur over 10-15 years. Quotas will limit petrol, diesel, and electric vehicle imports. The FTA offers opportunities for India's services sector.
India-UK FTA: JLR, Diageo among winners of model trade deal
The UK-India Free Trade Agreement will slash tariffs, benefiting UK automakers like Jaguar Land Rover and liquor companies like Diageo. Indian exporters gain access to the UK market with lower levies on various products, including textiles and medical devices. The deal is expected to boost bilateral commerce, fostering cooperation in financial technology and cross-border payments.
Gensol Engineering shares slide 5%, extending 20-day rout after SAT denies interim relief
Gensol Engineering shares remain under pressure after the SAT denied interim relief against Sebi’s market access ban over alleged fund diversion and document forgery. The case revolves around a Rs 978 crore EV loan, with Sebi alleging misuse of funds. Regulatory actions are intensifying, including probes by the MCA and complaints by lenders. The stock has plunged 59% in a month.
FTA perks: UK gets to sell 22,000 premium EVs in India
The India-UK FTA includes provisions for EV trade, with the UK gaining access to a quota for selling 22,000 high-value EVs at a 10% duty, while India gets a quota for low- and mid-range EV exports to Britain. India will lower automotive tariffs to 10% from the current duty of more than 100%.
Delhi HC halts Gensol & BluSmart 3rd party claims on 220 EVs
The Delhi High Court has further restricted Gensol Engineering and BluSmart Mobility from creating third-party rights over 220 additional EVs leased by SMAS Auto Leasing India and Shefasteq OPC due to failure in lease payouts. This follows similar petitions by other lessors, with the court appointing receivers but denying repossession.
Delhi HC curbs Gensol, BluSmart from creating third-party rights over 220 EVs leased to SMAS Auto, Shefasteq OPC
SMAS Auto had leased 164 EVs to Gensol and 46 to BluSmart, while Shefasteq had leased 10. Justice Jyoti Singh refused to direct repossession of the EVs, as sought by the lessors. The court also asked Gensol to submit a status report on the leased EVs within two days, besides furnishing a comprehensive statement of their assets and liabilities.
No duty cuts by India on diamond, silver, smartphones, optical fibres to UK under FTA
India and UK have signed a free trade agreement. India will not reduce duties on some industrial goods like diamonds and smartphones. There will be limited duty concessions for petrol, diesel, and electric vehicles. The aim is to double trade by 2030. Tariffs on automotive imports will decrease. This deal should help Indian auto component makers and consumers.
Tata Motors shares in focus after shareholders approve plan to split into two listed companies
Tata Motors shares: As per Tuesday’s exchange filing, 99.9995% of shareholders approved the demerger plan, under which each will receive equal shares in the two newly listed entities.
Ola Electric’s Bhavish Aggarwal cheers rival Ather on stock market debut
Ola Electric congratulated rival Ather Energy on its stock market debut, with both CEOs exchanging warm messages of support on social media. The gesture was praised by users online. Despite recent setbacks, Ola remains the market leader in India’s EV two-wheeler space, ahead of Ather by a significant margin.
Muted debut, rich valuations: Can Ather Energy override early bumps to deliver long-term gains?
Ather Energy's stock debuted flat and continued to decline due to subdued IPO response and stretched valuations. Despite investor caution, analysts see long-term potential in Ather's brand, EV ecosystem, and expansion plans. Profitability may take time due to competition and costs, making it suitable for high-risk investors willing to accumulate gradually.
India will have 123 million EVs by 2032: Report
India is gearing up for a massive electric vehicle revolution. A new report projects up to 123 million EVs on Indian roads by 2032. This growth is driven by government support and ambitious EV adoption targets. Electric two and three-wheelers currently dominate the market. Significant investment in charging infrastructure is needed to support this expansion.
Ather Energy shares slip 5% post flat D-Street debut
Ather Energy's stock market debut saw shares initially rise above the IPO price. However, the stock soon fell below its issue price. The IPO aimed to raise funds for expansion and debt repayment. Despite losses, Ather achieved significant sales and plans to increase production capacity. The company faces challenges in a competitive EV market.
MCA orders probe into Gensol, BluSmart for corporate governance violations
At the centre of the controversy is the alleged misutilisation of term loans availed by Gensol Engineering from state-run Indian Renewable Energy Development Agency and Power Finance Corporation. According to Sebi, the company secured a total of Rs 977.75 crore in loans, of which Rs 663.89 crore was meant specifically for the purchase of 6,400 electric vehicles (EVs).
Electric cab startup Evera begins absorbing BluSmart’s repossessed EVs; eyes Delhi airport dominance
The Delhi-based all-electric cab service company has onboarded 220 vehicles till now, with plans to add the rest in the coming days. Eventually, it plans to add a total of 1,000 BluSmart cabs to its fleet.
Maruti Suzuki making production lines flexible to roll out both ICE, EV models
Maruti Suzuki plans to enhance production flexibility. This allows manufacturing of diverse models, including electric vehicles. The company aims to add 20 lakh units of production capacity by 2031. It will have around 28 models in the market. The new Kharkhoda plant has commenced production. Maruti Suzuki will launch its first EV, e-Vitara, soon.
JSW MG Motors sets in motion up to $350 million fund raise from PE investors
JSW MG Motor India plans to secure $300-350 million for expansion. The funds will support new models and increased capacity. This follows a financial turnaround and the success of the Windsor EV. JSW MG aims for EVs to constitute 65% of sales by 2025. The company will introduce five new models this year.
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