Breakout, volume surge make CDSL a buy, says Shivangi Sarda of Motilal Oswal
'Gradual recovery in volume growth, along with increased retail participation can be seen which is supporting the ongoing growth trajectory of exchange platforms such as CDSL. Traders can buy for a target of Rs 1585 in the next 2-3 weeks,' Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd, said.
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Hans India
9 minutes ago
- Hans India
Move to make India global EV hub
New Delhi: The Central government on Monday notified guidelines for its forward-looking scheme to enable fresh investments from global manufacturers in the electric cars segment and promote India as a global manufacturing hub for e-vehicles. To encourage global manufacturers such as US tech giant Tesla to invest under the scheme, the approved applicants will be allowed to import completely built-in units (CBUs) of electric four-wheelers with a minimum CIF (cost insurance and freight value) of $35,000 at reduced customs duty of 15 per cent for a period of 5 years from the date that the application is approved. Union Heavy Industries Minister H D Kumaraswamy said on Monday that Mercedes Benz, Skoda-Volkswagen (VW), Hyundai, and Kia have shown keen interest in manufacturing their electric vehicles (EVs) in India. The minister further said that the application window for the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will open soon. Approved applicants would be required to make a minimum investment of Rs 4,150 crore in line with the provisions of the maximum number of e-4Ws allowed to be imported at the reduced duty rate will be capped at 8,000 units per year. The carryover of unutilised annual import limits would be permitted. According to the notification, the maximum number of EVs to be imported under this scheme will be such that the maximum duty foregone per applicant will be limited to Rs 6,484 crore, or the committed investment of the applicant of a minimum of Rs 4,150 crore, whichever is lower. Expenditure incurred on new plant, machinery, equipment and associated utilities, and engineering R&D would be scheme shall help to attract investments from global EV manufacturers and promote India as a manufacturing destination for e-vehicles. The scheme will also help put India on the global map for manufacturing of EVs, generate employment and achieve the goal of 'Make in India', according to the official landmark initiative is aligned with India's national goals of achieving net zero by 2070.
Time of India
15 minutes ago
- Time of India
Rohit Kapoor on Swiggy's food delivery slowdown; Group life insurance gains traction
Rohit Kapoor on Swiggy's food delivery slowdown; Group life insurance gains traction Want this newsletter delivered to your inbox? Also in the letter: Pushing value meals and 10-min food delivery to revive growth: Swiggy's Rohit Kapoor What's happening: Expanding delivery-friendly categories Drawing low-frequency users into the fold with value bundles Scaling 10-minute deliveries via its Bolt platform By the numbers: Swiggy's food delivery GOV grew 17.6% YoY in Q4 Bolt now accounts for 12% of Swiggy's delivery volumes Food delivery covers around 700 cities; density, not geography, is now the focus Also Read: Why it matters: On restaurant partners: Also Read: New-age life insurance firms tap group products to boost business Driving the news: Acko has written life insurance premiums worth Rs 63 crore. Go Digit has crossed Rs 1,000 crore. CreditAccess has processed close to Rs 200 crore in life insurance premiums. 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This and more in today's ETtech Morning Dispatch.■ Krutrim AI's uptake struggles■ ETtech Done Deals■ Tata Electronics' Malaysia forayRohit Kapoor, CEO (food marketplace), SwiggyAs the food delivery market cools, Swiggy is turning to quick meals , affordable combos, and deeper city penetration to stoke an exclusive interview with ET, Swiggy's food marketplace CEO Rohit Kapoor said growth will now come from low-frequency users and category innovation, not merely from city expansion. He also called for a more open dialogue between platforms and restaurants on is focusing on three key growth drivers in food delivery:With quick commerce eating into food delivery profits, Swiggy and Zomato are under pressure to revive their core businesses. Kapoor says there's latent demand to tap — but unlocking it depends on restaurant supply, better aggregator-partner dynamics, and faster ties with restaurant partners have been strained in recent years over the commissions rates. 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Mint
16 minutes ago
- Mint
Indian stock market: 7 key things that changed for market overnight - Gift Nifty, US PMI, weak dollar to gold prices
Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following gains in global markets. Asian markets traded higher, while the US stock market gained overnight, even as trade tensions continue to linger. On Monday, the Indian stock market ended the volatile session with minor losses, after staging a recovery from early declines. The Sensex fell 77.26 points, or 0.09%, to close at 81,373.75, while the Nifty 50 settled 34.10 points, or 0.14%, lower at 24,716.60. 'The Indian market is expected to continue its consolidation amid weak global cues, although downside may be limited due to strong domestic macros and a potential boost from the anticipated RBI repo rate cut,' said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd. Here are key global market cues for Sensex today: Asian markets traded higher on Tuesday following overnight gains on Wall Street. Japan's Nikkei 225 rose 0.36%, while the broader Topix index was flat. Hong Kong's Hang Seng index futures indicated a flat opening. South Korean markets are closed for election day. Gift Nifty was trading around 24,866 level, a premium of nearly 40 points from the Nifty futures' previous close, indicating a positive start for the Indian stock market indices. US stock market ended higher on Monday amid optimism over trade talks between the United States and its trading partner. The Dow Jones Industrial Average gained 35.41 points, or 0.08%, to 42,305.48, while the S&P 500 rose 24.25 points, or 0.41%, to 5,935.94. The Nasdaq Composite closed 128.85 points, or 0.67%, higher at 19,242.61. Nvidia stock price gained 1.7%, Meta shares rose 3.6%, while Tesla share price fell 1.1%. Cleveland-Cliffs stock price surged 23%, while Ford shares declined 3.9% and General Motors stock price dropped 3.87%. US manufacturing contracted for a third straight month in May. The Institute for Supply Management (ISM) said its manufacturing PMI edged down to a six-month low of 48.5 last month from 48.7 in April. Economists polled by Reuters had forecast the PMI rising to 49.3. The dollar fell to a six-week low on signs of fragility in the US economy. The dollar index, which measures the US currency against six major peers, was little changed after touching 98.58, the lowest since late April, when it fell to a three-year trough. The greenback was at 142.71 yen, near a one-week low, Reuters reported. The euro was barely changed at $1.1446 after briefly touching a six-week high of $1.1454. Gold prices traded higher to hit a near four-week high amid a weaker dollar and rising safe-haven demand. Spot gold price rose 0.1% to $3,381.13 an ounce, after hitting its highest level since May 8 earlier in the session. The metal gained about 2.7% in the previous session. US gold futures gained 0.3% to $3,406.10. Crude oil prices rose on Tuesday on concerns about supply. Brent crude futures gained 0.80% to $65.15 a barrel, while US West Texas Intermediate crude prices rose 0.91% to $63.09 a barrel. Both contracts gained nearly 3% in the previous session. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
