logo
State pushes for 30% e-vehicles by 2030

State pushes for 30% e-vehicles by 2030

Time of India5 hours ago

Thane: Maharashtra transport minister Pratap Sarnaik said the state aims for 25–30% of all vehicles on the road to be electric-powered by 2030, with the Mahayuti govt actively promoting the shift to green mobility.
Tired of too many ads? go ad free now
"Consumer interest is steadily moving toward electric vehicles. Our Chief Minister Devendra Fadnavis is committed to achieving a 30% share of EVs in the state. To support this, the govt is offering toll waivers and purchase subsidies to encourage adoption," Sarnaik said during the registration of what he said was possibly the country's first (45HP) electric tractor at the Thane RTO, in the presence of RTO officer Hemangini Patil.
Highlighting the benefits of the electric tractor, Sarnaik called it a game-changer for agriculture. "E-tractors have minimal maintenance and repair costs, and their fuel expenses are 60–70% lower than diesel counterparts. Ploughing one acre costs just Rs 300 with an e-tractor, compared to Rs 1,200–Rs 1,500 using diesel. Under the Maharashtra State Electric Vehicle Policy 2025, buyers are eligible for a Rs 1.5 lakh subsidy, zero registration fees, and interest-free loans through the Annasaheb Patil Arthik Vikas Mahamandal," he said.
Addressing urban traffic issues, Sarnaik announced that a comprehensive parking policy will be rolled out across the state by next year to tackle congestion in cities like Thane and Mumbai.
"Roadside parking is a key cause of congestion, especially in growing cities. We're working with municipal corporations to develop city-specific parking solutions. Sarnaik also assured intervention in the poor condition of Ghodbunder Highway, especially the Gaimukh Ghat stretch, and said the bad patches would be repaired soon.
Tired of too many ads? go ad free now
TOI highlighted the poor condition of the highway and the ghat section, which frequently led to traffic congestion, leaving motorists stuck in slow-moving traffic and taking hours to cross even small stretches on the highway. This highway is a crucial connection between Mumbai, Thane, Navi Mumbai, Gujarat, Konkan, and North Maharashtra.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Q-comm firms add fees to cart; Curefoods joins IPO queue
Q-comm firms add fees to cart; Curefoods joins IPO queue

Economic Times

time14 minutes ago

  • Economic Times

Q-comm firms add fees to cart; Curefoods joins IPO queue

Happy Monday! Quick commerce players are introducing new charges to offset rising losses. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ Mid-market GCC jobs outlook ■ Fresh yolk for Eggoz■ IndiaAI's LLM focus Quick commerce apps stack up extra fees to curb losses India's quick commerce players — Blinkit, Instamart, and Zepto among them — are quietly layering on new charges, such as handling, small-cart, rain, and surge fees, to shore up their fragile unit economics, executives and analysts tracking the sector told us. Driving the news: These add-on fees, charged over and above standard delivery rates, typically range from Rs 6 to Rs 30 per order, depending on city and demand. Crucially, they allow platforms to increase their take rates without adjusting base delivery fees, which remain subsidised to keep users engaged. Apps have also raised the minimum cart value, nudging users towards bigger baskets. However, this fee stacking has triggered a wave of user complaints about hidden charges. The government, too, has taken note — it recently flagged these as 'dark patterns' and asked these platforms to conduct self-audits. Also Read: Quick commerce industry's hygiene headache explained Why it matters: The top platforms control more than 80% of the market and are battling swelling losses. Blinkit posted a Rs 178 crore loss in Q4 FY25, while Instamart's losses touched Rs 840 crore in the same period. With aggressive discounting and high delivery subsidies weighing on margins, these charges aim to plug widening gaps in the business model. Zoom out: India's quick commerce market is projected to touch $31 billion by FY28. For now, though, growth is coming at the cost of profitability, even as regulators and customers push back against the tactics being used to fund it. Also Read: Quick commerce firms face delivery partner crunch amid rising demand Curefoods files for public listing amid IPO market resurgence Ankit Nagori, founder, Curefoods Cloud kitchen operator Curefoods filed its draft red herring prospectus (DRHP) for an initial public offering (IPO), joining a wave of Indian tech firms tapping into renewed interest in the IPO market. Key details: The offer will include a fresh issue worth Rs 800 crore, alongside an offer for sale (OFS) of 48.5 million shares. Early backers Accel, Chiratae Ventures and Iron Pillar PCC would offload part of their stake in the OFS. JM Financial, IIFL Capital and Nuvama are advising on the IPO. Use of proceeds: Curefoods will use Rs 152 crore from the IPO to expand cloud kitchens, restaurants and kiosks, mainly for Krispy Kreme. Another Rs 127 crore will go towards debt repayment, with some funds allocated to boost stakes in subsidiaries. India-Ratings downgrades IPO-bound on debt repayment worries Aaditya Sharda and Souvik Sengupta, cofounders, India Ratings, part of the Fitch Group, has downgraded long-term debt rating to 'BBB+ with Negative Outlook' from 'A- with Negative Outlook', citing worries around debt refinancing, weak liquidity and negative cash flows from operations in FY25. On the flipside: In response, told investors and lenders in a note last month that the downgrade fails to reflect its improving financials, recent equity infusion, and upcoming liquidity events, including its planned IPO. Meesho gets shareholder nod to go public Vidit Aatrey, CEO, Meesho Ecommerce platform Meesho has secured shareholders' approval to go public, the last step before filing its DRHP with Sebi. What's on offer: The company recently redomiciled to India in preparation for the listing. The IPO will feature a fresh issue of Rs 4,250 crore, along with an offer for sale. Zoom out: Meesho could become the first digital-only one-stop shop to list in India. Its larger rival, Flipkart, owned by Walmart, is also exploring a public listing. Also Read: IPO watch: Which Indian startups are next to hit the stock market? Mid-market GCCs likely to add 40,000 jobs by 2026 end Mid-market global capability centres (GCCs) are poised to add 40,000 jobs in India by the end of 2026, pushing their total workforce past 260,000, according to data from ANSR Global, which helps set up these captive units. Tell me more: Over 120 new mid-sized GCCs are expected to come up by the end of next year. Most of them will support functions across software, banking, finance, accounting, insurance, and retail. Hiring will remain concentrated in key tech hubs, including Bengaluru, Hyderabad, Chennai, Pune, and Gurugram. The hottest skills on the radar include AI/ML engineering, data analytics, cloud engineering, cybersecurity, full-stack development, product management, and solution architecture. Bird's eye view: Mid-market GCCs are punching above their weight when it comes to deep tech. They account for around 1.5 times more talent in areas such as AI/ML, cybersecurity, cloud, and data science, according to a Nasscom-Zinnov report. While leaner by design, these centres are doubling down on niche and high-value skills rather than chasing scale. Other Top Stories By Our Reporters Eggoz eyes to bolster presence with fresh funds: Agritech startup Eggoz secured $20 million in new funding, with mid-market private equity firm Gaja Capital leading the round, to expand its presence in existing markets. IndiaAI Mission emphasises building LLMs: Out of the 506 proposals received by the IndiaAI Mission for developing foundational AI models, 43 are specifically dedicated to creating large language models (LLMs). Global Picks We Are Reading ■ Inside the British lab growing a biological computer (FT) ■ Why tech billionaires want bots to be your BFF (WSJ) ■ Facebook is starting to feed its AI with private, unpublished photos (The Verge) Updated On Jun 30, 2025, 07:50 AM IST

Why reading about IPOs can be enriching
Why reading about IPOs can be enriching

New Indian Express

time16 minutes ago

  • New Indian Express

Why reading about IPOs can be enriching

The quest for financial security in life makes everyone ponder the means. Many of you might think that the more you earn, the better you will end up in terms of wealth. Money indeed begets money. If you are not well-endowed with family wealth, creating a surplus sufficient for retirement is a significant effort. A lot also depends on your ability to learn. Initial public offerings attract a lot of people to sit up and take notice of the opportunity due to the publicity around them. It is a common practice to apply when companies come up with initial public offerings. Some borrow and invest, too. It's no surprise, then, that the year 2024-25 was a blockbuster year for the primary market, which includes IPOs, follow-on offers, and offers for sale by existing shareholders. About 105 issues saw a record Rs 2,11,151 crore raised by companies or selling shareholders, according to Prime Database, a research agency. The next few months in 2025-26 will see some large companies offering shares to investors. These include two large non-banking finance companies, such as Tata Capital and HDB Financials, as well as a fintech company like Pine Labs. While you may always want to get a slice of high-growth companies, it is also time for you to enrich yourself with knowledge. The draft red herring prospectus, filed with regulators such as the Securities and Exchange Board of India or stock exchanges, provides insight into the business environment of these companies. You can get a sense of the growth opportunity for the company you wish to become a part-owner of. The IPO offer document has numerous risk factors listed as mandated by regulations. The company's managements are not allowed to make any forward-looking statements. You need to assess their past performance and read about their journey to profitability to gauge the sincerity of their operation. Despite such restrictions, the IPO filings will help you get the big picture. Companies often hire reputable research firms to give them industry analysis. The growth momentum in the financial services sector in India is unprecedented, and non-banking finance companies are at the forefront of financial inclusion. The NBFC sector has grown to loan assets under management to Rs 48,00,000 crore in 2024-25, from just Rs 2,00,000 crore in 2000-01, according to the HDB Financials offer document. While commercial banks account for three-fourths of the loans, their share is rising consistently. They are playing a larger role in financial inclusion. While loans from non-banking financial companies are expensive, they take the risk of lending to people with relatively low credit scores. Retail loans and business loans, which are prevalent in both rural and urban areas, dominate their loan book. The draft offer document of Pine Labs, a large FinTech company, reveals that the total market opportunity in India measured in terms of total payment value is expected to grow to Rs 280 lakh crore by 2028-29 from Rs 91 lakh crore in 2023-24 and Rs 19 lakh crore in 2018-19. A key driver for the rapid growth in digital payments is attributed to rising income and spending. The document offers some valuable insights into the FinTech world. What does it mean to you If you are new to the world of investing and seeking suitable opportunities, you need to conduct some research. Reading the draft prospectus that companies heading into an IPO file is just the first step. You can gain a comprehensive understanding of the company's business environment, as well as specific details about its financial performance to date, in preparation for your investment decision. Knowledge is an essential tool for your investment journey, and such documents can help you assess the risk and reward profile of your investment.

Stocks To Watch: Torrent Pharma, Tata Steel, Adani Ent, NTPC Green, HAL, GAIL, And Others
Stocks To Watch: Torrent Pharma, Tata Steel, Adani Ent, NTPC Green, HAL, GAIL, And Others

News18

time23 minutes ago

  • News18

Stocks To Watch: Torrent Pharma, Tata Steel, Adani Ent, NTPC Green, HAL, GAIL, And Others

Last Updated: Stocks to watch: Shares of firms like Torrent Pharma, Tata Steel, Adani Ent, NTPC Green, HAL, GAIL, and others will be in focus on Monday's trade Stocks to Watch today, Monday, June 30, 2025: Markets edged higher on Friday, extending the ongoing uptrend and ending the session with modest gains. In today's trade, shares of Torrent Pharma, Tata Steel, Adani Enterprises, NTPC Green, Asian Paints, HAL, among others will be in focus due to various news developments. The company has received a show-cause-cum-demand notice from the GST audit department for irregular Input Tax Credit (ITC) claims amounting to Rs 1,007.54 crore for the financial years 2018-19 to 2022-23. Torrent Pharmaceuticals: Torrent Pharma announced its acquisition of a controlling stake in JB Chemicals. It will purchase 74.48 million shares (46.39%) from Tau Investment Holdings Pte Ltd for Rs 11,917 crore. Additionally, it may acquire up to 2.8% from JB Chemicals employees at Rs 1,600 per share. An open offer for an additional 26% stake at Rs 1,639.18 per share will follow. The U.S. SEC has informed a New York court that summons and complaints have not yet been served to Gautam Adani and Sagar Adani. The case pertains to alleged violations of U.S. federal laws in a $175 million debt fund raise in 2021. Titagarh Rail Systems: BHEL received a Letter of Award from Adani Power for six thermal units of 800 MW each. The domestic order is valued at approximately Rs 6,500 crore. RVNL has emerged as the lowest bidder for a Rs 213.22 crore railway electrification project in Andhra Pradesh under South Central Railway. NTPC Green Energy, a subsidiary of NTPC, has commenced commercial operations of the final 120 MW unit of its 220 MW Shajapur Solar Project in Madhya Pradesh. TVS Holdings: TVS Holdings has been allotted 94.60 million additional equity shares in Home Credit India Finance. However, its shareholding remains unchanged at 81.04%. Gujarat Industries Power: The company has commissioned 105 MW of its 600 MW solar power project at the Renewable Energy Park in Khavda, Great Rann of Kutch. Waaree Energies: Subsidiary Waaree Solar Americas received a 540 MW solar module order from a U.S.-based utility-scale solar and energy storage project developer. Suzlon Energy: SEBI has disposed of a 2022 adjudication case involving certain transactions with Suzlon's subsidiaries, finding no regulatory violations. ITD Cementation: ITD Cementation India has secured an international marine contract valued at $67.4 million (approximately Rs 580 crore). Bharat Forge: Family dispute surfaces as Sugandha Hiremath accuses Gaurishankar Kalyani of misappropriating assets from the family's HUF (Hindu Undivided Family). Mazagon Dock Shipbuilders: The board has approved the acquisition of a controlling stake in Sri Lanka's Colombo Dockyard PLC for $52.96 million (Rs 452 crore), marking the company's overseas expansion. Asian Paints: In response to JSW Paints' acquisition of Akzo Nobel India, Asian Paints has bought the remaining 40% stake in Obgenix Software (owner of White Teak) for Rs 188 crore in cash. The U.S. Securities and Exchange Commission (SEC) has submitted a status update to a federal court in New York, outlining its continued attempts to serve legal documents to billionaire Gautam Adani and his nephew Sagar Adani. The matter pertains to a civil securities case filed last year. GAIL announced an investment of Rs 10,675 crore through the subscription of 106.75 crore equity shares in Talcher Fertilizers. The capital infusion will be made as part of a rights issue to support the fertiliser project. Bharat Heavy Electricals (BHEL) BHEL has secured a major order worth Rs 6,500 crore from Adani Power for the supply of six thermal power units, each with a capacity of 800 MW. top videos View all Hindustan Aeronautics Ltd (HAL) State-owned aerospace and defence giant HAL has recommended a final dividend of Rs 15 per equity share for the financial year 2024–25, subject to shareholder approval. tags : stocks to watch Location : New Delhi, India, India First Published: June 30, 2025, 08:10 IST News business » markets Stocks To Watch: Torrent Pharma, Tata Steel, Adani Ent, NTPC Green, HAL, GAIL, And Others

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store