Equity Chronicles Ind

Maruti Suzuki India announced on May 5th that it will invest ₹450 crore over the next three years in renewable energy projects focused on solar power and biogas. In FY24, the company already invested ₹120.8 crore in this sector. Starting FY25, Maruti Suzuki will increase this investment nearly four-fold to ₹450 crore, as outlined in a recent statement. "As we ramp up our production capacity from around 2 million to 4 million by 2030-31, we are also accelerating our efforts to increase the share of sustainable and renewable energy sources across our operations," said Managing Director & CEO Hisashi Takeuchi. In addition to implementing various technologies in its products, Maruti Suzuki will focus on multiple renewable energy sources to make its operations greener. The company has commenced a pilot biogas plant at its Manesar facility in FY25, which utilizes in-house food waste to produce 0.2 tonnes of biogas daily. The anticipated output is approximately 1 lakh standard cubic meters of biogas in FY25, which will offset around 190 tonnes of CO2 per annum. Furthermore, Maruti Suzuki expanded its solar capacity to 43.2 MW in FY24 and plans to add 15 MW to its Manesar plant and 20 MW to its upcoming Kharkhoda plant over the next two years. This expansion aims to boost the total solar capacity to 78.2 MW by FY26. Source: PTI #Marutisuzuki #news #greenenergy #business #nse #bse #cars

Paytm's share of the Unified Payments Interface (UPI) market in India has decreased for the fourth consecutive month as the fintech pioneer struggles to rebound from a regulatory setback. In May, Paytm accounted for 8.1% of total UPI transactions, down from 13% in January, according to data from the National Payments Corporation of India (NPCI). The decline began in January when the Reserve Bank of India ordered Paytm Payments Bank Ltd. (PPBL), a banking affiliate, to cease operations. This order has led to a 55% drop in Paytm's shares. Although PPBL isn’t controlled by Paytm, it is part of the fintech empire built by founder and CEO Vijay Shekhar Sharma. The UPI system, operated by state-backed NPCI, enables instant money transfers by linking banks with fintech apps such as Paytm, PhonePe, and Google Pay. In May, the UPI network processed a record 14.04 billion transactions, a 5.5% increase month-on-month. PhonePe, owned by Walmart Inc., maintained its leading market position with a 49% share in May, while Google Pay, owned by Alphabet, held a 37% share. In response to the RBI order, Sharma has forged new partnerships with top Indian lenders including Axis Bank Ltd., HDFC Bank Ltd., and State Bank of India Ltd. These alliances aim to facilitate instant money transfers previously managed by PPBL. Paytm did not respond to a request for comment from Bloomberg News. In Paytm's latest earnings filing, Sharma noted, "We expect near-term financial impact to our revenue and profitability due to disruptions faced in our business in Q4. #paytm #UPI #India #banks #payment #stocks

TDP chief Chandrababu Naidu's landslide win in the recent Andhra Pradesh assembly and Lok Sabha elections has skyrocketed the stock of a company promoted by his family into the spotlight. Heritage Foods, founded in 1992, is a leading player in India's value-added and branded dairy products market. The company's milk and milk products, including curd, ghee, paneer, flavoured milk, and immunity milk, are enjoyed by more than 1.5 million households across 11 states in India. In the past five trading sessions, Heritage Foods' stock surged by an impressive 55 percent. The stock was trading at Rs 424 on June 3, just two days after exit polls predicted a sweeping victory for Naidu's Telugu Desam Party. Since then, the stock has risen swiftly, closing at an all-time high of Rs 661.25 on Friday. This bullish phase has significantly increased the net worth of Naidu's family members, who hold substantial stakes in the company. Heritage Foods' market capitalisation increased by over Rs 2,400 crore this week, driven by the favorable election outcome for Naidu. The company's market cap rose from Rs 3,700 crore a week ago to Rs 6,136 crore on June 7. Exchange data shows that Naidu's family owns a 35.7 percent stake in the company. His wife, Bhuvaneswari, holds a 24.37 percent stake, while his son Lokesh and daughter-in-law Brahmani own 10.82 percent and 0.46 percent, respectively. Naidu's grandson Devansh holds a 0.06 percent stake. Collectively, their net worth increased by Rs 870 crore, rising from Rs 1,319 crore a week ago to Rs 2,190 crore. On June 7, Heritage Foods' shares on the NSE closed 10 percent higher at Rs 661.25 per share. #heritage #ap #indianmarket #nse #bse #growth #milk #news

Air India Express Managing Director Aloke Singh announced on Wednesday that the airline will prioritise cost management and transformation plans in 2024-25 as it seeks to leverage growth opportunities and group synergies. Air India Express is currently merging with AIX Connect, formerly known as AirAsia India. "In 2024-25, a lot of synergies will be unlocked, with a laser focus on the cost side," Singh stated. Both airlines are part of the Tata Group, which is also merging Vistara with Air India. Singh highlighted the potential for cross-feed between Air India's long-haul flights and domestic short-haul flights, anticipating substantial growth. With the expansion of the network and the introduction of a new fleet, Singh foresees significant improvements in both revenue and cost efficiency. Speaking at the CAPA India Aviation Summit 2024 in the national capital, Singh expressed confidence that bilateral flying rights will not hinder the airline's growth over the next five years. #TATA #NSE #BSE #Stockmarket #india #airlways #business #information

Doubling Your Share Happiness: Get Ready for a Bonus Share Bonanza! Get set to double your investment delight as BPCL announces an exciting bonus share issuance! In line with SEBI regulations, the Board has proposed a generous 1:1 bonus share distribution. This means for every existing equity share you own, you'll receive an additional one – absolutely free! But mark your calendars; the eligibility window closes on June 22nd. Follow US for more UPDATES !! #bpcl #bonus #investing #growth #sharemarket #india

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