TRENDING NEWS

The ARPU was up 4.2% QoQ at ₹ 203.3, led by the residual flowthrough of the ARPU hike (13-25% hike taken from July) as well as 2 mn of broadband subscriber addition driven by JioAirFiber. The SIM consolidation led churn post tariff hike normalised as the company added 3.3 million (mn) subs vs. loss of 10.9 mn subs in Q2. The subscriber base stood at 482.1 million.  The revenues and EBITDA stood at ₹ 29307 crore / ₹ 15478 crore, up by 3.4% and 2.9% QoQ, respectively. The margins stood at 52.8%, down 25 bps QoQ. The PAT at ₹ 6477 crore, was up 3.9% QoQ. Jio Platforms reported a topline of ₹ 33074 crore, up 4.3% QoQ. EBITDA Margins at 49.5%, down 10 bps QoQ.

According to AEPC ( Apparel Export Promotion Council), India's apparel exports surged by 11.6 per cent to USD 11.31 billion during April-December of this fiscal year due to robust growth in markets including the US, UK, and Germany. The positive trend signifies a strategic moment for India to enhance its global market presence and attract foreign investment. The long term outlook for Indian apparel exports remains positive, largely on account of improved product acceptance, adaptility to changing consumer trends and improving factory compliances.

AIA Engineering will establish Hi Chrome media manufacturing facilities in China and Ghana under VEGA Industries (Middle East) FZC, UAE (VEGA ME). Each facility will require ~₹430 crore investment over the next 3 years and will have a capacity of 50,000 metric tonnes per annum. The company has informed that VEGA ME is also evaluating Indonesia and other geographic locations for setting up similar manufacturing facilities.

Ministry of Defence (MoD) has signed a contract with Bharat Dynamics (BDL) for the supply of Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy at a cost of approximately Rs 2,960 crore. The MRSAM system is a standard fit, onboard multiple Indian Naval Ships and is planned to be fitted on the majority of the future platforms planned for acquisition. The contract marks a critical milestone in the ongoing efforts to bolster India’s defence capabilities and indigenise advanced military technology.

AIA Engineering has completed setting up of Rubber and Composite liners plant at GIDC, Kerala, Ahmedabad, Gujarat. The plant has started commercial production. 

Axis bank reported subdued performance in Q3FY25 with elevated delinquencies impacting growth and earnings. Advances grew 8.8% YoY (1.5% QoQ) to ₹10,14,564 crores, underperforming industry growth, with retail loans growing at 11% YoY (earlier 14% YoY), SME at 14%YoY (earlier 15% YoY) and corporate loans stable at 3%. Deposit accretion was at ~9.1% YoY (1% QoQ) to ₹10,95,883 crores, supported by term deposit growth of 14% YoY (3% QoQ). NII grew by 9% YoY (1% QoQ) to ₹13,606 crore, while NIMs compressed by 6 bps QoQ to 3.93%. Other income grew 7.5% YoY but declined by 11.2% amid lower disbursement. Opex declined 5% QoQ due to reduction in employee cost. Provisions continued to remain elevated at ₹2,204 crores, impacting earnings momentum. PAT came in at ₹6,304 crore, registering a 4% YoY rise but a 9% QoQ decline, with ROA at 1.64%. GNPA stood at 1.46%, marginally up from 1.44% QoQ. 

Infosys reported a healthu quarter on the revenues front (despite seasonality) in Q3FY25 as revenue increased by 1.7% QoQ/6.1% YoY in CC terms to US$ 4,939mn. Vertical wise on a YoY basis in CC terms, the company saw a broad based growth with Manufacturing (15.5% of the mix), ER&US (13.5% of the mix), Hi -Tech (8% of the mix), Lifesciencess (7.6% of the mix), Financial Services (28% of the mix), Communication (11.2% of the mix), Others (2.7% of the mix), Retail (14% of the mix) grew by 10.7%, 8.6%, 8.4%, 6.3%, 6.1%, 4%, 3.2% and 0.1% respectively. Geography wise, CC terms on YoY basis, India (3.1% of the mix), Europe (30% of the mix) and North America (58.4% of the mix) led the growth and reported growth of 40.1%, 12.2% & 4.8% while RoW (8.7% of the mix) declined by 11%. EBIT margin improved QoQ by ~20 bps at 21.3% with tailwinds of 30 bps from Project Maximus, 40 bps from currency movement and 20 bps from lower costs relating to provisions for customer support were offset by 70 bps from furloughs and higher third-party costs. Large deal TCV came at US$2.5 bn (63% being net new) vs. US$2.4 bn in the last quarter. The company’s net employee count for the quarter reported a growth of 5,591 employees totalling to 3,23,379 employees, while attrition inched up ~100 bps sequentially to 13.7%. On the AI front, Infosys has built 4 GenAl models and is developing over 100 new agents with an aim of deploying it to the clients.

LTIM reported revenue of US$ 1,138.7 mn, up 1.1% QoQ/ 5.5% YoY (up 1.8% QoQ/ 5.6% YoY in CC terms). Segment wise Manufacturing (19.3% of the mix) and BFSI (35.6% of mix) reported growth of 7.8% and 3.3% QoQ while Hitech (23.7% of the mix), Health (6.3% of the mix) and Retail (14.3% of the mix) reported a de-growth of 5.7%, 0.5% and 0.3%, respectively. Geography wise on a QoQ basis in US$ terms ROW (11.5% of mix), North America (74.7% of mix) expanded by 9.7 and 0.7% while Europe (13.8% of mix) de-grew by 3.1%. EBIT margin of the company decreased by ~170 bps QoQ to 13.8%, primarily due to a wage hike impact of ~200 bps which was partially offset by cost optimisation benefits of ~50 bps. The company's PAT was down 13.2% QoQ at ₹ 1,087 crore. The company during the quarter won its highest ever quarterly TCV of US$ 1.7 bn, up 29% QoQ and 12% YoY. The company’s net employees during the quarter increased by 2,362 (of which 1,400+ are freshers) to 86,800 while attrition was down ~20 bps QoQ at 14.3%.

Mastek in Q3FY25 reported revenue of US$102.9 mn, down 0.7% QoQ /up 9.5% YoY (up 0.1% QoQ/7.6 YoY in CC terms). On a QoQ basis, growth amongst verticals was led by Healthcare, (21.6% of mix) and Manufacturing (14.1% of mix) which grew by 21% and 0.2% while Retail (13.3% of mix), Financial services (12% of mix) and Government (39% of mix) de-grew by 7.4%, 6.7% and 3.9% respectively. Geography wise, UK & Europe (56.8% of mix) grew by 1.7% while MEA (14.9% of mix) and US (28.3% of mix) declined by 6.3% and 1% QoQ. EBITDA margin of the company contracted by ~32 bps QoQ to 16% due to ~160 bps impact of the wage hikes, currency headwinds, partially offset by offshoring, pyramid optimization and reduced subcon costs. The PAT came at ₹94.7 crore, translating to a PAT margin of 11% down ~390 bps QoQ. The company’s 12M order backlog grew strongly by 11% sequentially at US$ 248.5 mn. It added 27 new clients in the quarter. The total employee base for the quarter, stood at 5,260 employees, net reduction of 245 employees. The company is decreasing its employee base as it plans to infuse AI to drive efficiency. However, it plans to increase the headcount base in the selected areas, where they have planned to grow. It has declared an interim dividend of ₹ 7 per share. 

Revenue increased by 34.3% YoY (+5.1% QoQ) to ₹ 99.79crore in Q3FY25. EBITDA increased by 44.6% YoY (+6.5% QoQ) to ₹21.69 crore. Subsequently, PAT was up by 68.3% YoY (+11.3% QoQ) at ₹ 15.2 crore. For YTDFY25 the revenue increased by 17.3% YoY to ₹284.5 crore while EBITDA increased by 20.5% and PAT by 30.5% to ₹ 60.2 crore and ₹ 41.3 crore respectively. The company now has planned a capex of ₹ 54 crores to add 3.5mn meters capacity towards its SS flexible hose capacity along with a 2,40,000 pieces per annum capacity of miniature metal bellows by March’ 2026.

LTTS reported revenue of US$311.9 mn, up 1.7% QoQ and 7.3% YoY in US$ terms while in CC terms revenue was up 3.1% QoQ and 8.7% YoY. In rupee terms revenue stood at ₹2,653 crore, up 3.1% QoQ and 9.5% YoY. Verticals wise grew sequentially Tech (36.4% of the mix) and Sustainability (31.2% of the mix) grew by 9.8% & 3.1% whereas Mobility (32.4% of the mix) declined 7%. Tech grew on the back of ramp ups in MedTech, hyperscalers and communication providers. Sustainability’s growth was aided by plant modernization and automation demand. Geography wise all markets (barring North America) grew sequentially, where Rest of the World (7.6% of the mix), India (23% of the mix), Europe (18% of the mix) reported growth of 6.5%, 5.6%, 0.6% respectively. North America (51.5% of the mix) declined 0.2% QoQ. EBIT margin of the company increased by 80 bps QoQ to 15.9%, after absorbing the wage hike impact and including a one time operational M&A expense. The PAT for the quarter stood at ₹322.4 crore, up 0.9% QoQ down 4.1% YoY, translating to a PAT margin of 12.2%, down 20 bps QoQ. The net headcount during the quarter decreased by 233 employees leading to total employees of 23,465 & LTM attrition was marginally up by ~10 bps QoQ at 14.4%. 

HDFC Life delivered healthy growth in new business premium accretion at 11% YoY to ₹22,396 crore for 9MFY25, driven by a balanced product mix and a 15% increase in the number of policies sold. Annualized Premium Equivalent (APE) growth stood at 24% YoY to ₹8,986 crore, gaining market share with private sector individual WRP market share rising to 15.3%. However, higher expenses (~120 bps increase in opex ratio at 20.8%) moderated earnings growth at 15% YoY, resulting in PAT of ₹1,326 crore. Value of New Business (VNB) grew by 14% YoY to ₹2,586 crore, although the VNB margin contracted by ~140 basis points to 25.1%. Sequential revival was witnessed in margins owing to higher growth in non-par products, restructuring of commission structure and product repricing. AUM expanded to ₹3,30,000 crore, registering an 18% YoY growth, while embedded value increased by 18% YoY to ₹53,246 crore. 

US inflation edged up in December but remain in line with market expectations. CPI on YoY basis increased by 2.9% in December 2024 after advancing 2.7% in November 2024. Core-CPI which excludes energy and food rose 3.2% in December after climbing 3.3% in November on yearly basis while on a MoM basis, it increased 0.2%. Indexes that increased in in December include shelter, airline fares, used cars and trucks, new vehicles, motor vehicle insurance, and medical care. Shelter prices, which comprise about one-third of the CPI weight, rose by 0.3% MoM but were up 4.6% from a year ago, the smallest 1-year gain since January 2022. The energy index declined by 0.5% for the 12 months ending December, and the food index increased 2.5% over the last year. Dollar and US Treasury yields fell as softer than expected core-inflation reading coupled with producer prices data not only reinforced expectation of more than 1 rate cut this year but also removed the rate hike expectation this year which market had started entertaining. US Dollar ended on the negative note losing 0.1% to 109.07, 10-year treasury note edged lower to 4.653% its largest daily fall since late November and 2-year treasury yield, which typically moves in step with interest rate expectations slipped to 4.266%. 

Tyre major CEAT reported muted performance in Q3FY25. Consolidated net sales for Q3FY25 came in at ₹ 3,300 crore (up 11.4% YoY and down 0.1% QoQ). Gross Margins for the quarter declined by 59 bps QoQ to 36.8% owing to high raw material cost. EBITDA for the quarter stood at ₹ 341 crore with EBITDA margins at 10.3%, down ~63 bps QoQ and ~375bps YoY. PAT for the quarter stood at ₹ 97 crore down ~47% YoY and 20% QoQ. The company also announced a capex of ₹400 crore to increase capacity by 30% in its Nagpur plant by the end of FY27-28.

HDB Financial's reported decline in earnings amid an increase in credit cost during the quarter. PAT declined 20% QoQ and 26% YoY to Rs 472 crore,  led by higher credit costs reported at 2.5% (vs 1.8% QoQ) as GNPA increased 15 bps QoQ to 2.25%. Operational performance remained steady with PPP growth of 4% QoQ (in-line with AUM growth) with margins remaining flat at 7.5%. 

Larsen and Tourbo (LT) plans to invest ~₹48000 crore for setting up 6 green ammonia manufacturing units at the Deendayal Port Authority in Kandla, Gujarat. Last April, LT had acquired 500 acres of land for setting up green ammonia manufacturing units. LT is in discussion with multiple global customers and in a few months it will be able to reach agreement to manufacture and export green ammonia overseas. LT plans 6 units of 300 thousand tones per annum each, to be set up in 6 phases. With an investment of ₹8000 crore per unit. 

HDFC AMC reported a healthy mix of Q3FY25 result. PAT grew 30.8% YoY to Rs 641 cr despite other income declining 34.5% YoY, 54.4% QoQ to Rs 93 cr owing to MTM impact of its equity investments. AUM grew 35% YoY, 1% QoQ to Rs 7.8 tn as on Q3FY25 with company marginally improving market share from 11.5% to 11.6%. High yielding equity mix continues to maintain healthy proportion of 66.0% vs industry average of 58.7%. Revenue growth was healthy at 39% YoY to Rs 934 cr supported by AUM growth and marginal improvement in yields. EBITDA growth was healthy at 50% YoY, 8.6% QoQ to Rs 764 cr with strong EBITDA margin of 81.7%. PAT as % of AUM was strong at 33 bps.

The Govt has approved capital raising plans of five public sector banks (Punjab & Sind Bank, Indian Overseas Bank, UCO Bank, Central Bank of India, and Bank of Maharashtra) raising ₹10,000 crore. Each bank is expected to raise ₹2,000 crore through QIPs in small tranches starting Q4FY25. Further, government has also approved dilution in shareholding through OFS to gradually adhere to the regulatory requirement of maintaining public shareholding at minimum of 25%.

As per media reports, IRDAI has asked parent entities to submit a roadmap for potential public listing of their large insurance subsidiaries by 31st January 2025. The plan will address subsidiary size, operational milestones, and market readiness. Key subsidiaries include HDFC Ergo, SBI General, Bajaj Allianz, and Tata AIA.

As per media sources, starting in April 2025, Indian automobile manufacturers will be mandated to recycle at least 8% of the steel used in vehicles sold during the 2005-06 fiscal year ago (end of life vehicles at this point in time), as part of new government regulations under the Extended Producer Responsibility (EPR) framework. This recycling requirement is set to gradually increase to 18% by the 2035-36 fiscal year.

As per media sources the U.S. Court of Appeals for the Federal Circuit (CAFC) has upheld the validity of the heart failure drug Entresto (sacubitril/valsartan) combination patent of Novartis. Earlier Novartis has unsuccessfully defended appeal in a US district court to MSN Pharmaceuticals.

Bharat Electronics Limited (BEL), has secured additional orders worth Rs 561 Crores. Major orders include communication equipment, electro optics, upgrades for satcom network, radar & fire control system, spares, services etc.

HCLTech reported revenue of US$3,533 mn, up 2.5% QoQ & up 3.5% YoY (in CC terms up 3.8% QoQ & 4.1% YoY). The services business improved 2.2% sequentially and 4.9% YoY in CC terms. Sequential growth was led by the software segment which grew 18.7% QoQ in CC terms. The IT services and ER&D business reported a growth of 1.5% and 5.4% QoQ in CC terms respectively. Geography wise all geographies grew on a YoY basis in CC terms with Americas (65.5% of mix), ROW (6.3% of mix) and Europe (28.2% of mix) reporting a growth of 6.2%, 2.9% and 2.6% respectively. Segment wise on YoY basis in CC terms, growth was led by TMPE (12.3% of mix), Retail & CPG (10.6% of mix) and Tech & Services (13.3% of mix) which grew by 33.1%, 17.2%, & 7.6% respectively while Public Services (8.9% of mix), Financial Services (20.3% of mix) & Life Sciences & Healthcare (15.5% of the mix) declined by 4.6%, 1.4% & 1.1% respectively. EBIT margins came in at 19.5%, up 90 bps QoQ. However, IT & Business Services and ER&D margins contracted by ~22 bps wherein the productivity gains from their margin improvement plan of 100 bps & forex gains of 18 bps were offset by wage hike impact of 80 bps, 40 bps from furloughs and 20 bps from the HPE CTG acquisition including integration expense. PAT stood at ₹ 4,591 crore, up 8.4% QoQ. The company’s headcount increased by 2,134 employees bringing the total employee headcount to 2,20,755. The attrition further inched up by 30 bps YoY to 13.2%. HCLTech during the quarter won TCV of US$2.095 bn (down 5.5% QoQ & up 8.7% YoY). The management revised its revenue growth and services growth guidance for FY25 upwards to 4.5-5% YoY in CC terms (vs 3.5-5% earlier) while the margins are expected to be within the previously guided margin band of 18-19%. The company declared an interim dividend of ₹12 per share and a special dividend of ₹6 per share.

IndusInd Bank is set to gain a higher weight on the MSCI index in February’s rebalancing, driven by a reduction in foreign portfolio investor (FPI) holdings. FPIs reduced their stake from 55.53% in September to 46.63% in December, enhancing foreign headroom at 25%. The rebalancing is expected to bring inflows of ₹2,000–2,400 crore, boosting investor sentiment.

Paint companies' margins to remain under pressure with a surge in crude oil prices. Crude oil prices have surged by 10% since Nov,24 and are currently trading at around $81-82 per barrel. Crude derivatives form 25-30% of Paint companies raw material cost.

According to media sources, Mahindra & Mahindra (M&M) and Tata Motors have secured substantial incentives totalling ₹246 crore under India's Production Linked Incentive (PLI) scheme for the fiscal year 2023-24, recognizing their contributions to advanced automotive technologies. Tata Motors received ~₹142 crore based on sales from its electric vehicles, while M&M received claimed of ₹104 crore for its electric three-wheelers.

In a Press release, Hyundai Motor India Limited (HMIL) has unveiled the highly anticipated Hyundai CRETA Electric, set to launch on January 17, 2025, at the Bharat Mobility Global Expo. This electric SUV combines bold design with cutting-edge technology, featuring a unique pixelated front grille, active air flaps for improved aerodynamics, and R17 Aero Alloy Wheels with low rolling resistance tyres. The CRETA Electric will be available with two battery options: a 51.4 kWh pack offering a range of 473 km and a 42-kWh pack providing 390 km per charge. It boasts impressive performance, achieving 0-100 km/h in just 7.9 seconds and supporting rapid charging capabilities—10% to 80% in 58 minutes via DC fast charging and full charge in 4 hours with an AC charger. The vehicle also features advanced technologies such as Vehicle-to-Load (V2L) for powering external devices, i-Pedal technology for one-pedal driving, and a digital key for seamless access.

V2 Retail registered strong revenue growth of 58%yoy Rs 591 Crore in Q3FY25 on high base of 56%yoy growth achieved in Q3FY24. Revenues grew by 56% on 2 years CAGR basis and 21% on 5 years CAGR basis (Q3FY20 was normal quarter pre-covid). The strong growth can be attributable to 25% SSSG (Stood at 47% in Q3FY24). The company added 21 stores in Q3 (45 stores in 9MFY25) and total store count stands at 45 stores (targets to open 60-65 stores in FY25).

NTPC Ltd.'s Q3FY25 power generation saw a growth of 3.82% YoY. The company generated 326 billion units of electricity in October-December period. NTPC Group installed capacity stood at 76,598 megawatt by the end of calendar year 2024, with an addition of 2,724 MW during the year. Subsidiary NTPC Mining Ltd.'s coal production soared 23% year-on-year in the third quarter to 30.88 million metric tonnes.

Aeroflex Industries has completed capacity expansion of S.S. Hose and Brading by an additional 1.5 million meters, increasing the production capacity from 15.0 million meters per annum to 16.5 million meters per annum. The company has also successfully completed the expansion of its Composite Hose capacity with the addition of 3 new lines, bringing the total number of lines to 6. The company has commenced commercial production of a new product mix and launched a new product “Metal Bellows” with an annual production capacity of 1,20,000 pieces.

Divi’s labs commenced commercial operations from a part of the Phase I of Unit III greenfield project at Kakinada, The phase I of the Unit III greenfield project of the Company at Kakinada is being implemented on 200 acres of 500 acres Unit III site, with an estimated capex of ₹1,200-₹1,500 crores.

Bank of Maharashtra reported its provisional results for Q3FY25, with gross advances increasing by 21.2% YoY (5.1% QoQ) to ₹2,28,652 crore. Deposits rose by 13.5% YoY (1.0% QoQ) to ₹2,79,018 crore, supported by an 11.5% YoY growth in CASA deposits. The CASA ratio declined by 91 bps YoY to 49.3%, while the CD ratio increased by 517 bps YoY to 81.9%.

In a press release, Pricol ltd approved the divestment of its wiping business division to Auto Ignition Limited on a slump sale basis. The transaction involves a consideration of ₹ 20 Crores and is expected to be completed by January 31, 2025, subject to certain conditions. This divestment aligns with Pricol's strategic focus and follows a recent trend of restructuring within the company.

Avenue supermart revenues grew by 17.5%yoy to Rs15,565crore in Q3FY25 (grew by 17% on 2 years CAGR basis). Same grew by 10% on QoQ basis. The company added 10 stores in Q3 (y-o-y increase in stores stood at 13%). Its current store count stands at 387 stores.

Microfinance Institutions Network (MFIN) has extended deadline limiting maximum of lenders per borrower to three till April 2025. Other guidelines, such as capping outstanding loans at ₹2 lakh per borrower and halting lending to delinquent customers, took effect from January 1, 2025.

According to media sources, Tata Motors' Punch is projected to become India's top-selling car model in 2024, climbing six places in the rankings. With approximately 186,958 units sold from January to November 2024, the Punch is set to overtake established leaders like Maruti Suzuki's Swift and Hyundai's Creta, as well as Tata's own Nexon and other popular models such as Maruti's Wagon R, Baleno, and Brezza. Its appeal among first-time buyers and small families, bolstered by strong safety ratings and a range of powertrain options—including petrol, CNG, and electric—positions it favourably in the competitive compact SUV market. Estimates are that the Punch will exceed 200,000 units sold by year-end, reflecting a growing consumer preference for SUVs in India. 

According to media sources, JSW Steel has successfully won a bid to acquire two copper mines in Jharkhand from Hindustan Copper. The combined capacity of these mines is estimated to be 3 million tonnes (MT). Under the agreement, the company will oversee the development of the mines and manage capital expenditure. These mines will be operated by the company's subsidiary, Southwest Mining.

SKF India has approved a scheme of arrangement to demerge its Industrial Business into a wholly owned subsidiary, creating two listed companies with mirror shareholding, with the resulting company (SKF India Industrials) housing the industrial business and SKF India housing the automotive business. As part of the demerger, SKF India Industrial will issue 1 equity share for every share held in SKF India. All new shares of SKF Industrial will be listed and will be admitted for trading on BSE and NSE. The proposed transaction is subject to receipt of requisite approvals from statutory and regulatory authorities.

Gujarat Fluorochemicals has approved the slump sale of its 57 MW captive power plant to IGREL Mahidad Limited, a wholly-owned subsidiary, for ₹200 crore, along with an equity investment of up to ₹40 crore in IGREL mahidad. Additionally, GFCL will acquire a 26% stake in Flurry Wind Energy Private Limited, a promoter-owned company, through an equity investment of ₹200 crore. Also to meet its power needs, the company has entered into Power Purchase Agreements with IGREL (107 MW) and Flurry Wind Energy (350 MW) at ₹4 per unit. 

As per media sources, IndusInd Bank has put unsecured microfinance loans worth ₹1,573 crore, up for sale at a reserve price of ₹85 crore, indicating a recovery rate of 5.04%. The loans, involving over 10.61 lakh borrowers and no collateral, are being sold on a 100% cash basis, with asset reconstruction companies expected as primary bidders. Persisting asset quality pressures led to outstanding slippages of ₹2,259 crore in Q2 FY24, primarily from Bihar, Jharkhand, and Maharashtra.

As per media sources, BPCL and Coal India plans to jointly invest in a Rs 12,000 crores coal gasification project in Chandrapur district of eastern Maharashtra. Coal India and BPCL will hold 51% and 49% in the JV, respectively. The project will have debt to equity ratio of 70:30 or 65:35, with both the partners contributing equity commensurate with their shareholding.

Based on the findings of the study by CSIR - Neeri, Government is reassessing it's initiative that mandates coal-fired power plants to install flue gas desulphurisation (FGD) systems to reduce sulphur emmisions. Due to the high costs associated with foreign technology and unavailability of manpower, of 540 power stations required to implement FGD, only 8% have implemented FGDs. With the sulphur content at the Indian power plants at only 0.5% vs 0.5%-5% globally there is no advantage in installing FGD at Indian power plants. The study said coals high ash content was a bigger problem for power plants. The officials are considering deployment of locally manufactured electrostatic precipitators, which remove fine particles like dust and smoke from emissions. These cost approximately one-fifth of FGD systems.

As per DGTR (Department General of Trade Remedies), the government has initiated a probe into the imports of Non-Alloy and Alloy flat steel products into the country. This includes Hot rolled coils, sheets, and plates, HR plate mill, Cold Rolled (CR) coils and sheets, metallic coated steel coils and sheets, and colour coated coils and sheets. The period of investigation of steel imports is between 1st Oct’23 to 30th Sept’24. Moreover, the domestic steel manufacturers have sought imposition of safeguard measures for a period of 4 years.

In a press release, Steel Strips Wheels Limited (SSWL) has announced that it has received a nomination for a steel wheel supply contract from a leading European OEM, valued at approximately €15 million (~₹ 135 crore) over six years, with series supplies expected to begin by the end of calendar year 2026.

Bajaj Auto has officially launched the Chetak 35 series, an upgraded version of its classic electric scooter, in India on December 20. This new series consists of three models: Chetak 3501, 3502, and 3503. While maintaining the iconic look of the original Chetak, the updated models feature significant enhancements, including a 3.5 kWh battery mounted under the floorboard, which allows for increased storage space and improved ride comfort. The Chetak 3501 is priced at ₹1.27 lakh and the 3502 at ₹1.2 lakh (ex-showroom). A standout feature of the Chetak is its impressive range of 153 km on a single charge, with quick charging capabilities that allow it to reach 80% in just three hours. Additionally, the scooter boasts a robust metal body, a spacious 35 litres of boot space, and advanced features such as a smart touchscreen console, document storage, music playback, and geofencing technology for enhanced tracking. Bookings are open online and at Bajaj dealerships, with deliveries for the 3501-model starting in late December 2024 and for the 3502 in January 2025, accompanied by a warranty of three years or 50,000 km.

Ministry of Defence (MoD) has signed a contract with Larsen & Toubro (L&T) for procurement of 100 K9 VAJRA-T Self-Propelled Tracked Artillery Guns. The procurement of the 155 mm/52 calibre guns will catalyse the artillery modernization and enhance the overall operational readiness of the Indian Army. The total contract size is Rs 7,628.7 crore.

Adani Group plans to Invest ₹28,000 crore in Bihar. It plans to invest ₹20,000 crore to set up a 1,600 MW coal-fired ultra-supercritical thermal power plant in Bihar. Adani group plans to source fuel (Coal) for the plant from neighbouring states Jharkhand and West Bengal. It will invest ₹2100 crore to manufacture and install 2.8 million smart meters in five cities: Siwan, Gopalganj, Vaishali, Saran, and Samastipur. It has also planned to invest ₹2,500 crore to set up a 10 MMTPA cement manufacturing plant in Warsaliganj. The Adani Group also plans a Infrastructure investment of ₹1,000 crore for developing strategic infrastructure, including Gati Shakti Railway Terminals, Inland Container Depots, and Industrial Warehousing Parks.

Shriram Finance has consolidated its green financing efforts under Shriram Green Finance to expand beyond EV financing and enhance sustainability initiatives. The firm aims for ₹5,000 crore in AUM within 3-4 years, focusing initially on EV portfolios in Karnataka, Kerala, Maharashtra, and NCR. It is engaging with OEMs to establish long-term partnerships for seamless EV financing solutions. 

NTPC plans to set up a Nuclear Power plant in Bihar. NTPC's MD, Mr Singh said that "Looking at the future of the energy sector, nuclear energy is expected to become extremely important for the energy sector over the next few decades". 

TechM informed the stock exchange that Yabx Technologies, a wholly owned subsidiary of Comviva Technologies, a subsidiary of the Company has acquired 30% stake in Furaha Holdings. The company is engaged in the business of digital lending in Uganda and is desirous of launching purpose based lending businesses across Africa.