Latest news with #BHEL
Time of India
3 days ago
- Automotive
- Time of India
PM E-Drive halfway down the road for 2 & 3-wheelers: HD Kumaraswamy
New Delhi: The PM E-Drive scheme , which seeks to accelerate the adoption of electric vehicles, has so far achieved nearly 50per cent of its targets for two- and three-wheeler sales, said union steel and heavy industries minister HD Kumaraswamy . At 155,085 units, more than 75per cent of the target for the sale of large electric three-wheelers has already been achieved as of May 30, the minister said. Under the electric two-wheeler category, 1,198,707 units have been sold, meeting 48per cent of the scheme target so far, he told ET in an interview Sunday, adding that this scheme is routinely being reviewed to address any concerns. The scheme, started in September 2024, will run till March 2026. The minister also said steps are being taken to improve project execution by state-run Bharat Heavy Electricals Ltd ( BHEL ). Under PM E-Drive, he said, the e-rickshaw or e-cart category has grossly underperformed the other segments, achieving just 2per cent of the scheme target at 2,736 units. Commenting on the deliverables for electric buses under the scheme, Kumaraswamy said: "So far, 10,900 e-buses have been approved, with deployment expected in Karnataka, Delhi, Telangana and Gujarat. Demand for another 1,000 e-buses has been raised by Pune which is yet to be approved. The tender will be floated this week by Convergence Energy Services." The PM E-Drive Scheme has allocated ₹4,391 crore for deployment of 14,028 e-buses in nine major cities. He said a payment security mechanism shall ensure that e-bus suppliers get the payments on time. "Direct debit mandate with the RBI has been signed by Karnataka, Telangana and Gujarat. Delhi has agreed to the DDM," he said. Under this mechanism, the central bank can debit the accounts of states if there is any shortfall in payments to e-bus suppliers. "Total demand for 14,400 e-buses has come from cities. The current allocation has been considered for 10,900 e-buses in the Phase I," Kumaraswamy said. "Talks are on with remaining states. Their demand will be taken up in the next phase." His ministry also administers BHEL , which today has a healthy orderbook with the surge in thermal power capacity addition. But the company has historically struggled with meeting timelines. On steps expected to improve BHEL's deliverables, he said: "Processes are being refined along with many new initiatives which are vendor friendly, inviting more participation to meet spurt in material and manpower demand."
Time of India
4 days ago
- Automotive
- Time of India
bhel: PM E-Drive halfway down the road for 2 & 3-wheelers: HD Kumaraswamy
ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT New Delhi: The PM E-Drive scheme , which seeks to accelerate the adoption of electric vehicles, has so far achieved nearly 50% of its targets for two- and three-wheeler sales, said union steel and heavy industries minister HD Kumaraswamy At 155,085 units, more than 75% of the target for the sale of large electric three-wheelers has already been achieved as of May 30, the minister said. Under the electric two-wheeler category, 1,198,707 units have been sold, meeting 48% of the scheme target so far, he told ET in an interview Sunday, adding that this scheme is routinely being reviewed to address any scheme, started in September 2024, will run till March minister also said steps are being taken to improve project execution by state-run Bharat Heavy Electricals Ltd BHEL ).Under PM E-Drive, he said, the e-rickshaw or e-cart category has grossly underperformed the other segments, achieving just 2% of the scheme target at 2,736 on the deliverables for electric buses under the scheme, Kumaraswamy said: "So far, 10,900 e-buses have been approved, with deployment expected in Karnataka, Delhi, Telangana and Gujarat. Demand for another 1,000 e-buses has been raised by Pune which is yet to be approved. The tender will be floated this week by Convergence Energy Services."The PM E-Drive Scheme has allocated ₹4,391 crore for deployment of 14,028 e-buses in nine major cities. He said a payment security mechanism shall ensure that e-bus suppliers get the payments on time."Direct debit mandate with the RBI has been signed by Karnataka, Telangana and Gujarat. Delhi has agreed to the DDM," he this mechanism, the central bank can debit the accounts of states if there is any shortfall in payments to e-bus suppliers."Total demand for 14,400 e-buses has come from cities. The current allocation has been considered for 10,900 e-buses in the Phase I," Kumaraswamy said. "Talks are on with remaining states. Their demand will be taken up in the next phase."His ministry also administers BHEL, which today has a healthy orderbook with the surge in thermal power capacity addition. But the company has historically struggled with meeting steps expected to improve BHEL's deliverables, he said: "Processes are being refined along with many new initiatives which are vendor friendly, inviting more participation to meet spurt in material and manpower demand."
Time of India
4 days ago
- Automotive
- Time of India
PM E-Drive halfway down the road for 2 & 3-wheelers: HD Kumaraswamy
New Delhi: The PM E-Drive scheme , which seeks to accelerate the adoption of electric vehicles, has so far achieved nearly 50% of its targets for two- and three-wheeler sales, said union steel and heavy industries minister HD Kumaraswamy . At 155,085 units, more than 75% of the target for the sale of large electric three-wheelers has already been achieved as of May 30, the minister said. Under the electric two-wheeler category, 1,198,707 units have been sold, meeting 48% of the scheme target so far, he told ET in an interview Sunday, adding that this scheme is routinely being reviewed to address any concerns. The scheme, started in September 2024, will run till March 2026. The minister also said steps are being taken to improve project execution by state-run Bharat Heavy Electricals Ltd ( BHEL ). Under PM E-Drive, he said, the e-rickshaw or e-cart category has grossly underperformed the other segments, achieving just 2% of the scheme target at 2,736 units. Commenting on the deliverables for electric buses under the scheme, Kumaraswamy said: "So far, 10,900 e-buses have been approved, with deployment expected in Karnataka, Delhi, Telangana and Gujarat. Demand for another 1,000 e-buses has been raised by Pune which is yet to be approved. The tender will be floated this week by Convergence Energy Services." The PM E-Drive Scheme has allocated ₹4,391 crore for deployment of 14,028 e-buses in nine major cities. He said a payment security mechanism shall ensure that e-bus suppliers get the payments on time. "Direct debit mandate with the RBI has been signed by Karnataka, Telangana and Gujarat. Delhi has agreed to the DDM," he said. Under this mechanism, the central bank can debit the accounts of states if there is any shortfall in payments to e-bus suppliers. "Total demand for 14,400 e-buses has come from cities. The current allocation has been considered for 10,900 e-buses in the Phase I," Kumaraswamy said. "Talks are on with remaining states. Their demand will be taken up in the next phase." His ministry also administers BHEL, which today has a healthy orderbook with the surge in thermal power capacity addition. But the company has historically struggled with meeting timelines. On steps expected to improve BHEL's deliverables, he said: "Processes are being refined along with many new initiatives which are vendor friendly, inviting more participation to meet spurt in material and manpower demand."
Mint
27-05-2025
- Business
- Mint
Shares to buy or sell: Sachin Gupta of 5paisa recommends HUDCO, BHEL shares today
Stock market today: Indian stock markets began the day on a downturn on Tuesday, reflecting a volatile trading environment and a prudent stance from investors in light of global uncertainties and varied domestic signals. At the start of the trading session, the Sensex fell by 430 points to reach 82,038.20. Similarly, the Nifty 50 decreased by approximately 0.5% to settle at 24,956. Market analysts indicate that, in the short term, the market is expected to stabilize at its current levels. With mutual funds holding significant cash reserves, any downturn will likely attract buyers, while elevated valuations may prompt profit-taking during price increases. A continual upward trend will only occur when key indicators point to a recovery in earnings growth, which is still a while off. Sachin Gupta of 5paisa recommends HUDCO, BHEL shares today. Here's what he says about the overall market. The benchmark indices continued to trade in the green, closing near the psychological 25,000 mark. The Nifty 50 ended the session at 25,001.15, posting a gain of 148 points. Technically, the index formed a bullish candlestick pattern with a higher high and higher low, indicating the continuation of the prevailing uptrend. After finding strong support near the 24,500 level, also coinciding with the 61.8% Fibonacci retracement during Thursday's session, the Nifty 50 witnessed a sharp rebound and extended its upward momentum for the second consecutive day. Notably, strong buying interest has emerged near the 21-day Exponential Moving Average (21-DEMA), which continues to act as a key dynamic support level. This reinforces the positive market bias. However, market volatility remains elevated. Hence, traders are advised to adopt a 'buy on dips' strategy in the index. On the upside, a decisive move above the 25,100 resistance zone could open the doors for further gains toward the 25,300–25,400 levels. On the downside, immediate support is seen around 24,800, followed by a more significant support at 24,500 marks. On shares to buy on Tuesday, Sachin Gupta recommends two stocks on Tuesday — Housing & Urban Development Corporation Ltd (HUDCO), and Bharat Heavy Electricals Ltd (BHEL). HUDCO share price has been forming an Inverted Head & Shoulders pattern, a reversal formation that signals a potential shift from a downtrend to an uptrend. Additionally, the price has sustained above the 200-DEMA, suggesting long-term bullish strength. Recently, a volume breakout was observed, indicating strong buying interest among traders. Therefore, traders are advised to look for buying opportunities in HUDCO share price, targeting an upside of ₹ 255/265 with a stop loss at ₹ 228 on a closing basis. On the daily chart, the BHEL share price has surpassed the resistance zone of 255 and is sustaining above the 50% Fibonacci retracement level. Additionally, a positive crossover between the 50-day and 100-day Simple Moving Averages, along with rising volume activity, signals bullish strength and supports the ongoing momentum. Furthermore, the stock has confirmed a trendline breakout following a period of consolidation, highlighting a bullish setup and renewed buying interest. Therefore, one can consider buying BHEL shares in the ₹ 258–260 range, with a strict stop-loss below ₹ 248, for an upside target of ₹ 268/275 levels. 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.
Mint
26-05-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Monday — 26 May 2025
Stock Market Today: During the week ending 23 May 2025, amidst volatility, the market continued consolidating as the benchmark Nifty-50 index, at 24,853.15, ended 0.7% lower week on week. The Bank Nifty, at 55,398.25, ended nearly flat, though Realty, Metals, and Industrials were among key gainers. Autos, FMCG, and IT were among the key losers. The Broader markets also ended marginally lower. For the benchmark Nifty 50 index, 24600 and 24450 would be the key support zones for the short term, while 25000 would be the immediate resistance zone for the bulls. A successful breakout above 25000 could push the market up to 25150-25500. On the other side, below 24450, the sentiment could change, said Amol Athawale, VP-Technical Research, Kotak Securities: For bank Nifty, a higher bottom support is placed at 54575, as long as it is trading above the same, the bullish momentum is likely to continue, he added In the week ahead, market participants will first react to the RBI's record dividend transfer of ₹ 2.7 lakh crore to the government and its implications for fiscal policy. Additionally, the release of India's industrial and manufacturing production data for April, scheduled for May 28, along with the Q1 GDP growth figures, will offer insights into the economic recovery trajectory. Updates on the progress of the monsoon will also be closely monitored. On the global front, developments in the U.S. bond market, the release of FOMC minutes, and progress in the India-U.S. trade negotiations will continue to influence market sentiment, said Ajit Mishra – SVP, Research, Religare Broking Ltd Moreover, the final leg of the Q4 earnings season—with results from key companies like Bajaj Auto, Aurobindo Pharma, and IRCTC—will remain in focus. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks. These include Bharat Heavy Electricals Ltd or BHEL, Nestle India Ltd, SBI Life Insurance Company Ltd, Axis Bank, DLF Ltd, Paras Defence and Space Technologies Ltd , Tourism Finance Corporation of India Ltd and NIIT Ltd Heavy Electricals Ltd- Bagadia recommends buying Bharat Heavy Electricals or BHEL at around ₹ 254.80, keeping Stop Loss at ₹ 245 for a target price of ₹ 273 BHEL is currently trading near ₹ 254.80, demonstrating a sharp recovery from recent lows and signaling a strong reversal in momentum. The stock is on the verge of breaking its recent lower high structure, supported by a notable surge in trading volumes—indicating robust buying interest and market participation. 2. Nestle India Ltd - Bagadia recommends buying Nestle India or NESTLEIND at around ₹ 2414 keeping Stoploss at ₹ 2329 for a target price of ₹ 2583 NESTLEIND is currently trading at ₹ 2414, having rebounded from a key support level at ₹ 2295. The stock has formed a bullish candlestick pattern on the daily timeframe and is poised to break out of its consolidation range between ₹ 2245 and ₹ 2425. A decisive breakout above this range would further validate the ongoing reversal trend, supported by a noticeable surge in trading volumes—indicating strong buying interest. 3. SBI Life Insurance Company Ltd- AR Positional BUY sbilife @ 1798 SL 1770 TGT 1860 In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around Rs. 1860. At present, the stock is maintaining a crucial support level at Rs.1770. Given the current market price of Rs.1798, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs. 1860. 4. AXIS Bank Ltd- Dongre recommends buying AXIS Bank or AXISBANK at around ₹ 1210 keeping Stoploss at ₹ 1175 for a target price of ₹ 1250 We have seen a major support in this stock around Rs. 1175 So, at the current juncture, the stock has again seen a reversal price action formation at the Rs.1210 price level, which may continue its rally till its next resistance level of Rs.1250 so traders can buy and hold this stock with a stop loss of Rs.1175 for the target price of Rs.1250 in the upcoming weeks. 5. DLF Ltd- Dongre recommends buying DLF at around ₹ 775 keeping Stoploss at ₹ 745 for a target price of ₹ 795 In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock's price, possibly to around Rs. 795 Currently, the stock is holding a crucial support level at ₹ 745. Given this scenario, there is potential for the stock to rebound towards the ₹ 795 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at Rs.745 to manage risk effectively. The target price for this trade is ₹ 795, reflecting the anticipated upward movement based on the identified technical 6. Paras Defence and Space Technologies Ltd=Koothupalakkal recommends buying Paras Defence or ₹ 1636 with target price of ₹ 1730 keeping Stop loss at ₹ 1600 The stock has recently witnessed a steep rise with strong trend maintained and after a short period of correction has once again indicated a turn around with bias improving taking support near the ₹ 1550 zone and expecting for another round of fresh upward move in1. the coming sessions. The RSI has cooled off from the highly overbought zone and is currently well placed having further potential to carry on with the positive move further ahead. 7. Tourism Finance Corporation of India Ltd- Koothupalakkal recommends buying Tourism Finance Corporation or TOURISM FINANCE at around ₹ 209 for a target price of ₹ 220 keeping Stop loss at ₹ 204 The stock has been in consolidation for quite some time with bias maintained intact and during the last hours of the intraday session, has indications of improving bias with huge volume participation visible to anticipate for further rise in the coming sessions. With the RSI corrected from the highly overbought zone, is currently well positioned and with strength indicated can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of ₹ 220 level keeping the stop loss of ₹ 204 level. 8. NIIT Ltd- Koothupalakkal recommends buying NIIT LTD at around ₹ 137.20 for a target price of ₹ 146 keeping Stop loss at ₹ 135 The stock has witnessed a decent revival from the low made near ₹ 103 zone and recently, maintaining above the important 50EMA level at ₹ 133 has shown signs of improvement in the bias with a positive candle formation on the daily chart and can expect for further upward move in the coming days. The RSI is picking up with a gradual rise and can carry on with the positive move with much upside potential visible. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 146 level keeping the stop loss of ₹ 135 level. 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.
