Renault shares tumble 17% after guidance cut, interim CEO appointment
The company said late on Tuesday it now aims to achieve a full-year operating margin of 6.5per cent, below a previous target of at least 7per cent.
It also warned on its free cash flow, which in the first half came to just 47 million euros ($54.49 million), hit by a negative working capital requirement of around 900 million euros due to delayed billings and a decline in the European passenger car and van market.
Shares were down 15.5per cent at 0753 GMT to 34.80 euros, on track for their worst day since March 2020, after earlier falling as much as 17per cent.
Renault said it would step up cost-cutting measures to improve margins in the second half but some analysts said longer-term market pressure could continue.
"We foresee longer-term market pressure playing out beyond June. Most of the European carmakers released a new lineup of affordable electric vehicles, increasing competition," said analysts at Morningstar.
They said this raised concerns about leadership uncertainty in a volatile market.
Renault named finance chief Duncan Minto as an interim CEO on Tuesday and said the process for naming a permanent CEO was "well underway" but gave no update on timing.>
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Mint
an hour ago
- Mint
India has seen an explosion of fertility startups. Next up: deal spree
Bengaluru/Mumbai: India's growing incomes and falling fertility rate have birthed a new breed of startups looking to fill gaps and provide convenience in assisted reproduction services, drawing interest from investors and large healthcare chains. Upstarts such as Luma Fertility and Arva Health offer services ranging from at-home hormone monitoring and assessment to in-vitro fertilization (IVF) at their centres, while Initomakes portable fertility tracking least 37 fertility ventures were founded between 2021 and 2025 in India, raising $86.4 million combined in equity investments, according to Tracxn data. 'What is interesting is that these startups are highly focused on offering services such as fertility testing and egg freezing, apart from conventional fertility offerings…," said Shobhit Agarwal, chief executive officer at Nova IVF Fertility. 'They are well exposed to European markets, understand the changing landscape of the fertility market in India and are helping to bring new allied services to India and create these markets in larger cities." IVF and other fertility solutions have been available in India for decades. Yet demand has grown in recent years as more women decide to have children later and infertility increases. Rising incomes mean a higher number of Indians can access treatment. EY estimates the nation's IVF market to rise from $793 million in 2020 to $1.45 billion by 2027, expanding 15-20% annually. Mumbai-based Luma offers embryo grading, advanced egg quality assessment, egg freezing, IVF, male and female fertility testing and care and a smartphone application to track hormones and record symptoms. Arva provides everything from hormone testing and fertility consultation to IVF and IUI (intra-uterine insemination). Inito sells at-home single-use kits for monitoring hormone levels during fertility cycles–crucial information for couples struggling to conceive. 'Their (new startups') presence has helped expand awareness and convenience, especially for individuals taking early steps toward understanding their reproductive health," said Kshitiz Murdia, chief executive officer and whole-time director of Indira IVF, the country's largest infertility treatment chain. Private investors are taking notice. Last week, Luma, which recently opened a fertility clinic in Mumbai, announced its $4 million fundraise from Peak XV's Surge, Metropolis Healthcare's promoter Ameera Shah and Vijay Taparia of B2V Ventures. In May, Bengaluru-based Arva secured $1 million in pre-seed funding led by early-stage investment firm All In Capital. Expansion plans Inito plans to enter 20 countries, including Australia and Canada, by next year, founder and chief executive officer Aayush Rai told Mint. 'We're a deeptech company, and the idea is to build a global company. The consumption patterns are different in India and outside, with Western countries more open to adopting newer technologies." Inito lastraised $6 million in Series A funding led by Fireside Ventures in November 2023. Luma Fertility, which recently established its first clinic in Mumbai's Bandra area, is looking to launch two more centres in the financial capital, followed by expansion into Bengaluru, Hyderabad, Pune and Gurugram. 'While a majority of it will be organic expansion, we are open to acquisitions to widen the scope of fertility services like in vitro-fertilization (IVF) and egg freezing,"said Neha Motwani, founder of Luma. There are other startups proving support services . BabyReady provides teleconsultation and financial services for couples seeking fertility treatments and Elawoman offers counselling and access to fertility clinics. India IVF, a chain of tech-enabled fertility care centres across India, received pre-Series A funding last year. Veera Health provides treatment for polycystic ovary syndrome or PCOS, which is known to cause infertility–the venture is backed by Y Combinator and Peak XV's Surge. "My sense is that less than a third of the market is truly organized, chained and branded. The remaining is mostly single-doctor or single-clinic practices," saidArjun Anand, managing director and head of Asia at global investment company Verlinvest. 'Startups that bring a positive differentiation to existing services of IVF & IUI will have an edge." Acquisition targets Verlinvest acquired a controlling stake in AP/Telangana-focused Ferty9 Fertility Centre in 2023. Large chains, too, are watching these startups as potential acquisition targets. Startups play a crucial role in bringing about innovative services that large players cannot possibly introduce at scale, making consolidation a favourable outcome. '...we are not only seeing much intense competition from large chains, but also seeing many new startups in this space," said Agarwal of Nova IVF, which was acquired by Asia Healthcare Holdings in 2019. The chain has 100 centres across the country, with over half of those in tier 2 and 3 cities, including Bareilly, Guwahati, and Vellore. Nova IVF is assessing acquisition opportunities in markets with low presence, said Agarwal. Last month, Economic Times reported, citing unnamed people, that US-based IVI RMA Global is set to acquire ART Fertility Clinics for $400-450 million. Indira IVF inked deals with Gujarat-based Banker Healthcare and Puducherry's Creation Science IVF in June as well. Birla Fertility & IVF acquired BabyScience IVF Clinics to expand its presence in southern and western India last year. Funding in the segment will continue to be driven by private equity investments, according to Verlinvest's Anand. 'Private equity brings scale, while venture capital fosters innovation. IVF is more suited to a private equity play as it's a centre-by-centre model and will take a linear curve to scale." Looking ahead On their part, the startups also continue to evolve to stay relevant. Luma Fertility is offering a more open and detailed analysis of diagnostic reports to its patients, besides investing in establishing a dedicated care team to guide them along the journey. 'For instance, our analysis of an AMH report states X-axis age, Y-axis AMH, where you are compared to the India average, and what this means for you, and what is your predictive decline," said CEO Motwani. 'The first place where the system is broken is how fertility assessment and testing are done. It needs to be more accessible, open, and with less judgment." Inito intends to be a pure-play product company, according to founder Rai. 'There is definite value in building hardware because at-home testing is largely under-penetrated. This segment can grow significantly, potentially outperforming top players in the product side." The startup also plans to foray into men's fertility with specialized products, which Rai termed an underrated topic. Nova IVF's Agarwal sees more opportunities including AI-driven embryo evaluation, genetic testing, newer therapies such as ovarian rejuvenation. "Any addition like a digital-first approach, more efficient tracking capabilities, and new technology will be valuable," saidVerlinvest's Anand. 'Better customer experience, the ability to cater to a premium audience, or a concierge service will help set a startup apart from traditional players." According to Bhanu Prakash Kalmath S J, partner and healthcare industry leader at Grant Thornton Bharat, 'what also matters is how you bring credibility through a better brand". This is what works for larger chains, which offer consistency and uniform services across centres, and that could work for new players as well, he said. Luma and Inito plan to carefully invest in expansion to maintain differentiation and sustainable economics. But Kalmath S.J. suggested that investing in technology to ensure compliance with regulations and complete data confidentiality is paramount too. More so, when big fertility treatment chains also look to protect their turf and stay ahead of the curve. As Sriram Iyer, CEO of Apollo Health and Lifestyle, which runs Apollo Fertility, explained: 'To stay competitive, investment in technology, prioritizing ethical practices, and addressing accessibility challenges are utmost."
Deccan Herald
4 hours ago
- Deccan Herald
India and Spain are 'twin brothers' — MP CM Yadav
Madhya Pradesh Chief Minister Mohan Yadav on Wednesday said India and Spain are the carriers of two ancient civilisations and both countries have taken their centuries-old culture forward on the basis of moral values. Yadav, who is on a visit to Spain, also sought investments from the European country in different sectors in Madhya Pradesh. "India and Spain are the carriers of two ancient civilisations and both have taken their ancient culture forward on the basis of moral values. Both countries are like twin brothers. Now we will move forward together in terms of development. "Spain has a different identity in culture as well as technology," he said addressing the 'Invest in MP Business Forum Meet' in Madrid, the capital of Spain, according to an official release issued in Bhopal. Yadav noted Madhya Pradesh is the fastest developing state of India and investing there is undoubtedly a profitable deal. Informing investors about unmatched qualities and potential of Madhya Pradesh, he said, "if they are thinking about investing in India, then definitely come to Madhya Pradesh once, you will not be able to forget the state (MP)." "Madhya Pradesh is located in the central region of India. So we are moving fast to become a leader in the logistics sector. Even if you set up industries in any other state of India, you will definitely need our state (Madhya Pradesh)," he said. Spain is India's sixth largest partner in terms of economic trade. Currently, trade worth USD 9.32 billion is taking place between Spain and India.
The Hindu
4 hours ago
- The Hindu
U.K., Germany sign friendship treaty, deepening ties in face of threats
Britain and Germany signed a wide-ranging friendship treaty on Thursday (July 17, 2025), deepening ties in areas ranging from defence to transport, to mark Friedrich Merz's first trip to London as chancellor, the latest visit to help reset U.K. ties with the EU. Mr. Merz's day trip follows a three-day state visit to Britain by French President Emmanuel Macron, signalling greater cooperation between Europe's top three powers at a time of threats to the continent and uncertainty about their U.S. ally. "This is a historic day for German-British relations," Mr. Merz said at the signing ceremony in the Victoria and Albert museum, co-founded by Britain's Queen Victoria and her husband Prince Albert, of German origin. "We want to deepen our cooperation in the field of defence, in foreign policy, but also in economic and domestic policy." Coming nearly a decade after Britain voted to leave the European Union, the treaty is, on the one hand, a sign of the normalisation of German-British relations, said Nicolai von Ondarza at Berlin's SWP think-tank. "On the other hand, the treaty is a sign that the UK has become even more important as a security partner due to transatlantic uncertainty." Europe has been confronted with new U.S. tariffs since President Donald Trump returned to the White House as well as questions about the U.S. commitment to defend its European allies, including Ukraine against Russia's invasion. The treaty includes a clause on mutual assistance which, "in light of the Russian war of aggression against Ukraine, is highly significant", a German official said earlier this week. It builds on a defence deal agreed last year that included the joint development of long-range strike weapons, and comes after France and Britain agreed last week to reinforce cooperation over their respective nuclear arsenals. Deeper defence As part of Thursday's announcement, Britain and Germany pledged to "pursue joint export campaigns" to drum up orders from other countries for equipment they make jointly, such as the Typhoon Eurofighter jet and the Boxer armoured vehicle. That could help boost sales, and represents a significant reversal from the previous 10 years, when Germany blocked Saudi Arabia and Turkey from buying Typhoons. Typhoons are made by a consortium of European companies, including BAE Systems in Britain and Airbus in Germany, with the different partner governments responsible for orders to different countries; the Boxer is made by a German-British joint venture, Rheinmetall BAE Systems Land. Further deepening ties, a German defence tech company, Stark, has also agreed to build a new factory in Britain, the first production facility outside of Germany, to create AI-powered unmanned systems. Beyond defence, the treaty also includes an agreement to develop a new direct rail link between the two countries and to jointly combat irregular migration, part of Starmer's push to reduce the number of asylum seekers arriving in Britain to try to fend off the populist Reform U.K. party. Germany pledged to outlaw the facilitation of illegal migration to Britain, with a law change by the end of the year. That would give law enforcement the tools to investigate warehouses and storage facilities used by migrant smugglers to conceal dangerous small boats intended for illegal crossings to Britain.
