Vardhan Capital & Finance reports standalone net loss of Rs 0.01 crore in the June 2025 quarter
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Economic Times
3 minutes ago
- Economic Times
Ola Electric showcases Bharat cell, rare earth-free motor at ‘Sankalp'
Company Images Ola Electric on Friday launched its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual 'Sankalp' event, held at the company's Gigafactory in Tamil Nadu. This was Ola's first public showcase at the 107-acre lithium-ion cell manufacturing facility. The 4680 Bharat cell, available starting today, offers 10% higher energy density and a battery life of around 15 years, the company claimed. It can be used in Ola vehicles, energy storage devices such as solar units, and even drones. Ola Electric also unveiled the new S1 Pro+ scooter, powered by the 4680 cell, with a top speed of 141 km/h and a promised range of 501 km. Its price has been cut from Rs 1,99,999 to Rs 1,69,999, with deliveries beginning September 22. Ola's second major announcement was a motor built with ferrite instead of neodymium, eliminating the need for rare earth magnets. These magnets, typically the strongest permanent magnets, have become a supply risk for India's auto industry as China tightens exports. 'The next generation of motor technology does not need rare earths. And your company has already built it,' said founder Bhavish Aggarwal at the event. The company also introduced MoveOS 6, its upgraded operating system that follows MoveOS 5. The new version adds features such as a voice assistant, camera, customisable motor sounds, personalised ride insights, and speed boost. According to Ola, MoveOS 6 will improve energy efficiency by 15%, reduce weight by 25%, and cut costs by 43%. These Gen4 upgrades are scheduled for release early next year. As part of the MoveOS 6 rollout, Ola will launch the S1 Pro Sport, a sport-segment scooter priced at Rs 1,49,999 (tentative), expected in January 2026. The company also revealed its upcoming electric bike, Diamond Head, targeted for has hosted its annual event on August 15 since 2021, when it launched its first S1 electric scooter range. Last year, it introduced its first lineup of electric motorcycles under the Roadster brand, offered in three variants, Roadster Pro, Roadster, and Roadster X, with introductory prices ranging from Rs 74,999 to Rs 2,49, the Gigafactory, Ola aims to mass-produce its homegrown NMC 2170 lithium-ion cells. At present, it imports cells from LG Chem in South Korea for its electric scooters, according to latest announcements come as the company faces regulatory scrutiny and a sharp decline in market share. Ola's share in the electric two-wheeler segment has fallen from over 50% a year ago to 16.8% in the first two weeks of July, placing it behind TVS Motor and Bajaj Auto, ET reported on July pressures add to the challenge. Ola Electric reported a net loss of Rs 428 crore in the June quarter, compared to Rs 327 crore a year earlier, though narrower than the Rs 870 crore loss in the March quarter. The company posted operating revenue of Rs 611 crore in the March quarter. With the 4680 Bharat cell, rare earth-free motor, and new vehicle launches, Ola is betting on technology and in-house manufacturing to regain its edge in India's fast-growing EV market. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
India.com
3 minutes ago
- India.com
India Bolstering Defence Capabilities, Remains Committed To Regional Peace: Report
HANOI: India's drive for defence self reliance and technological advancement has received a significant boost with the approval of a $2.3 billion (Rs 20,000 crore) project to develop next-generation Airborne Warning and Control Systems (AWACS) for the Indian Air Force (IAF), a report cited on Friday. The development underscores India's commitment to strengthening surveillance, reconnaissance, and situational awareness, while reflecting its foresight in addressing emerging security challenges amid a complex geopolitical landscape. 'AWACS platforms are critical force multipliers that provide real-time intelligence, surveillance, and command and control functions from airborne platforms. These systems detect, track, and engage threats at extended ranges, giving the IAF an unparalleled operational advantage in airspace management,' a report in Vietnam Times mentioned. 'The upcoming generation of AWACS will incorporate cutting-edge radar technology, advanced sensor fusion, and artificial intelligence-driven analytics. This will allow the Indian Air Force to monitor vast stretches of airspace with improved accuracy and responsiveness,' it added. According to the report, advanced detection capabilities will provide earlier warnings and enable coordinated responses to any aerial or missile threats. A key feature of this $2.3 billion project is its focus on indigenous research, development, and manufacturing, while enhancing indigenous defence technology. It stated that in line with the Government of India's 'Make in India' and 'Atmanirbhar Bharat' initiatives, the project aims not only to reduce reliance on foreign suppliers but also to strengthen the domestic defence industry ecosystem. Next-generation AWACS platforms, the report emphasised, are set to play a crucial role in boosting the operational readiness of the IAF. Additionally, with advanced early warning and command capabilities, the IAF will be able to carry out more effective air defence, offensive operations, and maritime surveillance. Furthermore, these systems are designed to interoperate effectively alongside other branches of the Indian Armed Forces, such as the Army and Navy, enabling a unified and synchronised approach to national defence. Through investment in cutting-edge surveillance technologies, the report highlighted that India bolsters its deterrence capabilities while reaffirming its commitment to regional peace and stability. The advanced AWACS systems will play a crucial role in monitoring cross-border activities and preventing incursions, thus promoting a secure environment that fosters economic growth and development. The report detailed that with the strengthening of aerial surveillance and command capabilities, the project not only reinforces India's defence posture but also encourages economic growth, technological advancement, and strategic autonomy. 'It is a testament to India's unwavering commitment to securing its skies and asserting its position as a resilient and technologically advanced nation on the global stage. With this decisive step, India moves closer to realising its vision of a strong, self-reliant defence ecosystem that safeguards the nation's interests and contributes to regional and global peace,' the report noted.
Economic Times
3 minutes ago
- Economic Times
Dow Chemical signs 2.5 lakh sq ft office lease at Navi Mumbai's Mindspace Airoli
Synopsis Dow Chemicals International has leased 2.56 lakh sq ft of office space in Navi Mumbai's Airoli, marking a significant transaction in the city's IT sector. The 10-year lease, valued at approximately Rs 250 crore, underscores the resilience of Mumbai's commercial office market. TIL Creatives Representative Image Dow Chemicals International has picked up over 2.56 lakh sq ft office space in an information technology park in Navi Mumbai's Airoli locality through a long-term lease spanning over 10 years, marking one of the largest recent transactions in the city's IT and business parks US-headquartered chemical major has taken up five floors from 2nd to 6th in one of towers of Mindspace Special Economic Zone, owned by Mindspace Business Parks. The company is estimated to pay around Rs 250 crore rentals through the entire term of the lease. The lease, starting 15 September, will see Dow Chemical will paying a monthly rental of Rs 1.64 crore, translating into Rs 64 per sq ft on the chargeable area. The agreement includes a clause to escalate rentals by 5% every year. The transaction also involves a security deposit of Rs 14.77 addition to the standard lease terms, the deal includes a fit-out security deposit of Rs 82.09 crore, which will be refunded in tranches of 10% each year, and a fit-out rent of Rs 29.45 per sq ft per month, with no escalation through the term, showed the documents accessed through realty data analytics firm transaction underscores the resilience of the commercial office market in the Mumbai Metropolitan Region (MMR), particularly in large-format, high-quality spaces catering to multinational occupiers. With global corporates increasingly consolidating operations into technology hubs like Navi Mumbai, such deals point towards sustained demand despite a hybrid work environment. Industry experts tracking the segment say that high-value, long-tenure leases in established business parks indicate occupiers' confidence in India's medium- to long-term growth story and their commitment to scaling local email queries to Dow Chemicals and Mindspace Business Parks remained commercial office market recorded a landmark performance in the last financial year, with leasing activity reaching an all-time high. The surge was driven by a combination of expansion plans by global and domestic occupiers, portfolio consolidation, and the preference for high-quality, well-connected office spaces in major business momentum is widely expected to carry forward into 2026, supported by sustained demand from key sectors such as global capability centres (GCCs), banking, financial services and insurance (BFSI) institutions, flexible workspace operators, and leading Indian technology companies. These segments continue to account for the largest share of fresh leasing as well as renewals, underpinned by India's cost competitiveness, skilled workforce, and strong digital infrastructure.
