Friday, August 14
New Delhi: India’s capital is experimenting with EV retrofitting, but the country’s carmakers are not convinced. The Delhi government’s recent announcement of incentives to encourage electric vehicle (EV) retrofitting has opened a can of worms for India’s auto industry, with major carmakers expressing strong reservations even as startups and independent retrofitters remain excited to tap the opportunity.Under the policy, the first 1,000 vehicles retrofitted from internal combustion engines to electric powertrains will receive an incentive of `50,000. The initiative is aimed at reducing vehicular pollution by extending the life of older cars while transitioning them to cleaner propulsion.However, leading automobile manufacturers appear unconvinced. Industry executives, speaking on c
U.S. President Donald Trump’s latest bid to force a deal on Greenland, this time by threatening steep tariffs on a cluster of NATO allies, has injected fresh uncertainty into global markets, potentially pushing investors toward gold and silver while raising short-term volatility risks for equities, including in India, even as longer-term trade opportunities quietly come into focus.On Saturday, Trump said the U.S. would impose a 10% tariff from 1 February 2026 on imports from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland, escalating the levy to 25% from 1 June if those countries refuse to negotiate the sale of Greenland, a Danish territory. The announcement, made in a social media post, marked Trump’s most aggressive attempt yet to pressure Eu
The combined market valuation of three of the top-10 most valued firms jumped Rs 75,855.43 crore in a holiday-shortened last week, with State Bank of India and Infosys emerging as the biggest gainers, in an otherwise sluggish trend in equities.Last week, the BSE benchmark Sensex dipped 5.89 points, and the NSE Nifty went up by 11.05 points.While ICICI Bank, State Bank of India and Infosys were the gainers, Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Bajaj Finance, Hindustan Unilever and Larsen & Toubro faced a combined erosion of Rs 75,549.89 crore from their valuation.The combined erosion of these seven firms was less than the total m-cap addition of Rs 75,855.43 crore of the three companies - ICICI Bank, State Bank of India and Infosys.SBI's market
The strong investor response to the initial public offering of Bharat Coking Coal Ltd has boosted confidence within CIL and provided positive momentum as the company evaluates the listing of its other subsidiaries, Chairman-cum-Managing Director B Sairam said.The IPO of Bharat Coking Coal Ltd (BCCL), an arm of Coal India Ltd (CIL), got fully subscribed within minutes of opening for bidding on January 9."As directed by the government, we would step into the market and look forward to unlock the true potential of our companies. We will closely study and assess the market dynamics for listing the companies," Sairam said in an interview with PTI.BCCL is slated to list on the bourses on Monday.Referring to the BCCL IPO issue, Sairam said the "response has been encouraging and has reinforced con
Foreign portfolio investors withdrew over Rs 22,530 crore (USD 2.5 billion) from Indian equities so far this month amid rising US bond yields and a stronger dollar, continuing their selling streak from last year.This came following an outflow of Rs 1.66 lakh crore (USD 18.9 billion) recorded in 2025, triggered by volatile currency movements, global trade tensions and concerns over potential US tariffs and stretched market valuations.This sustained selling pressure by foreign portfolio investors (FPIs) has significantly contributed to the nearly 5 per cent depreciation of the rupee against the dollar during 2025.According to data from NSDL, FPIs pulled out Rs 22,530 crore from Indian equities between January 1 and 16.Market experts attributed the continued withdrawal to a combination of glo
