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Time of India
23-05-2025
- Business
- Time of India
Gravita India promoter pares 3.4% stake for Rs 498 crore
A promoter of Gravita India on Friday divested a 3.4 per cent stake in the company for Rs 498 crore through an open market transaction. According to the bulk deal data available on the NSE, Rajat Agarwal offloaded 25 lakh shares, representing a 3.38 per cent stake in Gravita India. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A promoter of Gravita India on Friday divested a 3.4 per cent stake in the company for Rs 498 crore through an open market transaction . According to the bulk deal data available on the NSE, Rajat Agarwal offloaded 25 lakh shares , representing a 3.38 per cent stake in Gravita shares were sold at an average price of Rs 1,991.52 apiece, taking the transaction value to Rs 497.88 the latest transaction, Rajat Agarwal's holding in Gravita India slipped to 32.39 per cent from 35.77 per Motilal Oswal Asset Management Co picked up 7.33 lakh shares at an average price of Rs 1,991 per piece. This took the deal value to Rs 145.98 of the other buyers of Gravita India's shares could not be identified on the National Stock Exchange (NSE).On Friday, shares of Gravita India depreciated 4.55 per cent to close at Rs 1,954 apiece on the May 2023, Gravita India promoter Rajat Agarwal sold a 4.6 per cent stake in the company for Rs 181 a separate bulk deal on the NSE, Nippon India Mutual Fund purchased 19.5 lakh shares or 0.82 per cent stake in the Ramco Cements for Rs 195.98 shares were picked up at an average price of Rs 1,005.03 apiece on the of the sellers of the Ramco Cement's shares could not be ascertained on the scrip of the Ramco Cements rose 1.50 per cent to close at Rs 1,002.65 apiece on the NSE.
Entrepreneur
22-05-2025
- Business
- Entrepreneur
Promethean Energy Raises USD 2 Mn Funding to Advance Industrial Decarbonisation
With the newly raised funds, Promethean plans to expand its product portfolio, scale operations, and broaden its reach across India and Southeast Asia. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. CleanTech startup Promethean Energy, a pioneer in industrial decarbonisation, has raised USD 2 million in a Pre-Series A funding round led by Transition VC, with additional backing from Sangam Venture, Sagana Capital, and Fondation Botnar. Founded in 2014 by Rajat Agarwal and Ashwin Krishna, Mumbai-based Promethean Energy develops high-efficiency industrial heat pumps and waste heat recovery systems aimed at eliminating fossil fuel usage in factories. With the newly raised funds, Promethean plans to expand its product portfolio, scale operations, and broaden its reach across India and Southeast Asia. "Thermal energy is the last bastion of fossil fuel use in Indian industry. At Promethean, we're replacing steam boilers and hot water generators with smart, electric heat pump and heat recovery systems—clean, efficient, and reliable," said Rajat Agarwal, Founder and CTO of Promethean Energy. Promethean offers tech-first, locally optimised solutions designed for India's unique industrial conditions, integrating thermal storage, smart controls, and real-time energy monitoring. The systems deliver guaranteed energy savings and rapid ROI, with deployments in sectors such as automotive, FMCG, chemicals, textiles, distilleries, and steel. Notable clients include Hindustan Unilever, Godrej Industries, and SAIL. Operating through CAPEX and ESCO models, Promethean's technologies have already helped eliminate over 100,000 tonnes of CO₂ emissions annually. With a mission to decarbonise 1,000 factories by 2027, the company is now developing high-temperature heat pumps, an AI-powered energy optimisation platform, and a nationwide service network. International pilots are also in the pipeline for Bangladesh, Indonesia, and the Middle East. "India's industrial and manufacturing sector is a significant contributor to national emissions, ranking third after energy and agriculture, and accounting for roughly 240 million tonnes of CO2 equivalents, or approximately 10% of India's total greenhouse gas output," said Shoeb Ali, Co-founder and Managing Partner, Transition VC. "Promethean offers impactful energy efficiency solutions, including advanced waste heat recovery systems and industrial heat pumps, which hold substantial promise for decreasing carbon emissions from this sector in both domestic and international markets. Their proven ability to successfully deploy reliable systems at scale positions them as a key player, delivering compelling and rapid returns on investment for customers."
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Business Standard
08-05-2025
- Business
- Business Standard
Stronger-than-expected earnings may boost India stock rally further
India's recent crop of corporate earnings is emerging as another positive catalyst that's likely to help its nascent stock-market rally gather steam. Earnings at over half of the companies in the benchmark Nifty 50 Index that have reported results for the quarter ended March have exceeded analyst estimates, according to a BofA Securities report published on May 5. If the trend holds, it will shore up confidence in a market that has outperformed many of its biggest rivals in Asia over the past month on bets that India's domestically driven economy is relatively insulated from US President Donald Trump 's trade war. Also Read 'We do not expect a contraction in profit margins this year, which at least puts a lid on earnings downgrades,' said Rajat Agarwal, Asia strategist at Societe Generale. 'This quarter is not as disappointing as feared.' Hindustan Unilever Ltd., the country's largest staple goods maker, joined other firms in forecasting a pick-up in demand among India's 400 million-strong mass of urban shoppers. 'Looking ahead, we anticipate demand conditions to gradually improve over the next fiscal year,' Chief Executive Officer Rohit Jawa said as the results were released in late April. There are other positives: New Delhi's decision to award a $11.5 billion tax break to middle class consumers earlier this year is expected to further lift consumption. Interest-rate cuts by the Reserve Bank of India will make borrowing cheaper, potentially boosting spending and investment. Optimism is also brewing that a likely trade deal with the US will result in tariffs for Indian exports that are lower than other emerging-market peers. And analysts see corporate profit margins widening from sliding prices of key commodities like wheat, palm oil and crude oil. Still, the risks for India come from outside its borders. Trump's pugilistic approach to global trade remains a concern even with recent hopes for a deal, and a recent flare-up of tensions with Pakistan has the potential to test investors' nerves. Morgan Stanley said US levies could drive India's gross domestic product growth to fall short of the bank's previous 6.5 per cent estimate. The disruption caused by US tariffs wasn't fully reflected in the most recent quarterly earnings. The Nifty gauge has climbed over 10 per cent since its low in early April and global funds are back to piling money into Indian stocks. Investors have broadly shrugged off concerns about potential for earnings downgrades following the current reporting season, given Nifty 50 saw earnings cut in both February and March. Singapore-based Vishal Gupta, who runs the Emerging Leaders Equity fund, is bullish on the prospects of India's corporate earnings and local equities are among his top bets. 'While there has been some slowdown in the economy in recent months, we expect it to be transient in nature rather than structural,' he said by email. India is 'relatively better sheltered compared to the rest of the emerging markets in the midst of on-going tariff friction,' he added.
Time of India
08-05-2025
- Business
- Time of India
Stronger-than-expected earnings set to bolster D-Street rally
Indian corporate earnings show positive signs, boosting the stock market. Many companies exceeded analyst estimates for the quarter that ended in March. Experts predict stable profit margins and increased consumer demand. Tax breaks and interest rate cuts may further stimulate spending. A potential trade deal with the US could also benefit Indian exports. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's recent crop of corporate earnings is emerging as another positive catalyst that's likely to help its nascent stock-market rally gather at over half of the companies in the benchmark Nifty 50 Index that have reported results for the quarter ended March have exceeded analyst estimates, according to a BofA Securities report published on May the trend holds, it will shore up confidence in a market that has outperformed many of its biggest rivals in Asia over the past month on bets that India's domestically driven economy is relatively insulated from US President Donald Trump's trade war 'We do not expect a contraction in profit margins this year, which at least puts a lid on earnings downgrades,' said Rajat Agarwal , Asia strategist at Societe Generale. 'This quarter is not as disappointing as feared.' Hindustan Unilever Ltd., the country's largest staple goods maker, joined other firms in forecasting a pick-up in demand among India's 400 million-strong mass of urban shoppers. 'Looking ahead, we anticipate demand conditions to gradually improve over the next fiscal year,' Chief Executive Officer Rohit Jawa said as the results were released in late are other positives: New Delhi's decision to award a $11.5 billion tax break to middle class consumers earlier this year is expected to further lift consumption. Interest-rate cuts by the Reserve Bank of India will make borrowing cheaper, potentially boosting spending and is also brewing that a likely trade deal with the US will result in tariffs for Indian exports that are lower than other emerging-market peers. And analysts see corporate profit margins widening from sliding prices of key commodities like wheat, palm oil and crude the risks for India come from outside its borders. Trump's pugilistic approach to global trade remains a concern even with recent hopes for a deal, and a recent flare-up of tensions with Pakistan has the potential to test investors' nerves. Morgan Stanley said US levies could drive India's gross domestic product growth to fall short of the bank's previous 6.5% estimate. The disruption caused by US tariffs wasn't fully reflected in the most recent quarterly Nifty gauge has climbed over 10% since its low in early April and global funds are back to piling money into Indian stocks. Investors have broadly shrugged off concerns about potential for earnings downgrades following the current reporting season, given Nifty 50 saw earnings cut in both February and Vishal Gupta, who runs the Emerging Leaders Equity fund, is bullish on the prospects of India's corporate earnings and local equities are among his top bets.'While there has been some slowdown in the economy in recent months, we expect it to be transient in nature rather than structural,' he said by email. India is 'relatively better sheltered compared to the rest of the emerging markets in the midst of on-going tariff friction,' he added.
