A look at the shortlisted startups for the Woman Ahead and Social Enterprise categories for The Economic Times Startup Awards 2020. View More

Cementing their place in the Indian startup ecosystem and paving the way for many aspiring female entrepreneurs, five women entrepreneurs have been shortlisted for the Woman Ahead category for The Economic Times Startup Awards 2020. A high-powered jury consisting of top business leaders, investors and startup entrepreneurs will decide the winners on a virtual meet on August 20. WOMAN AHEAD Vineeta SinghCEO, Sugar Cosmetics Vineeta Singh, CEO, Sugar Cosmetics. Founded: 2012 Based: Mumbai Investors: RB Investments, India Quotient, A91 Partners Claim to fame: Sugar Cosmetics has created a niche for itself on the back of Instagram commerce, competing with legacy brands such as Lakme, Maybelline, Mac and Colorbar. It has more than 600,000 Instagram followers and a presence across 80% of modern trade stores, convincing funds such as A91 Partners to back it. Rashle Jain CEO, Onco Rashle Jain, CEO, Onco. Founded: 2016 Based: Bengaluru Investors: Accel, Chiratae Ventures, Technology Venture Partners, Dream Incubator Claim to fame: The former manager at Biocon was inspired to think of Onco, an end-to-end cancer care platform, when a close family member was diagnosed with cancer and she realised the hardships faced by cancer patients. Onco today has over 1,500 oncologists and 500 cancer hospitals as partners. Anju Chaudhary Srivastava CEO, Wingreens Farms Anju Chaudhary Srivastava, CEO, Wingreens Farms. Founded: 2011 Founder: Anju Chaudhari Srivastava Based: New Delhi Key investors: Sequoia Capital, Anicut Capital, responsAbility Investments Claim to fame: Srivastava, a 25-year veteran of the advertising profession, is the founder of Wingreens, a packaged food brand that sources, makes and markets multiple products including fresh dips, spreads, sauces and mayonnaise. The company has a distribution network in more than 200 cities and aims to become a Rs 1,000 crore business in the next five years. Zoya Brar Managing director, CORE Diagnostics Zoya Brar, Managing director, CORE Diagnostics. Founded in: 2012 Based: Gurugram Investors: Eight Roads Ventures, F-Prime Capital, Artiman Ventures Claim to fame: Zoya Brar cofounded and heads CORE Diagnostics, a testing and diagnostics company. Brar started the company after a two-year stint at Google, which she joined directly after college. CORE Diagnostics undertakes high-end diagnostics, provides solutions for hereditary and sporadic cancers as well as multiple haematological disorders. It works with over 3,000 doctors and 200 hospitals across the country. Suhasini and Anindita Sampath Co-founders, Sproutlife Foods Suhasini and Anindita Sampath, Co-founders, Sproutlife Foods (L-R). Founded: 2014 Based: Bengaluru Investors: SAIF Partners, Fireside Ventures Claim to fame: The Sampath sisters founded the company that owns the nutritious snack brand Yoga Bar in 2014, and within 6 years its reach has spread to 7,000 retail stores across 72 cities – a feat they managed despite no background or training in the FMCG sector. In fact, four years ago, Yoga Bar surpassed the 1 million orders-a-month milestone. Also read: ET Startup Awards 2020: Nominees for Best on Campus, Comeback Kid ET Startup Awards: Rolling out the red carpet for nominees of Bootstrap Champ, Top Innovators SOCIAL ENTERPRISE Contributing in the welfare of society and environment by implementing unique and sustainable solutions, these five entrants have been shortlisted for the Social Enterprise category. Saral Design Suhani Mohan and Kartik Mehta, co-founders, Saral Design Solutions (L-R). Founded: 2015 Founders: Suhani Mohan, Kartik Mehta Based: Mumbai Key investors: Acumen, empoWer, Startup Nexus What it does: Saral Design Solutions is working on increasing access to high-quality sanitary napkins and surgical masks using technology, decentralised manufacturing and last-mile distribution. GoCoop Solutions and Services Siva Devireddy, founder, GoCoop Solutions and Services. Founded in: 2011 Founder: Siva Devireddy Based: Bengaluru Key investors: Indian Angel Network, Unitus Seed Fund, Saha Fund, Pratithi Investments What it does: GoCoop is an online marketplace that helps India’s weavers and artisans list and sell their products to customers directly. The company also works with many cooperatives and clusters, while bringing on board institutions as buyers for their products. It has also launched its own private label, The Good Loom. Akshayakalpa Shashi Kumar, founder, Akshayakalpa. Founded: 2010 Founder: Shashi Kumar Based: Tiptur, Karnataka Investors: Lok Capital What it does: Akshayakalpa is an organic milk and dairy products brand. The company helps farmers set up small, organic dairy farms and provides financial and technical support as well as access to markets. On average, its expertise helps increase a farmer’s income by three times, it says. Each farm is made up of 25 cows, automatic milking systems, a biogas plant, a bio-digester, fodder choppers and a chilling unit. Samunnati Anil Kumar SG, founder, Samunnati. Founded: 2014 Founder: Anil Kumar SG Based: Chennai Key investors: Elevar Equity, Edelweiss Financial Services, Accel, Northern Arc, Ramaraj R What it does: Samunnati is a nonbank focused on farm sector financing. It serves about 4 million small farmers in partnership with community associations and agriculture enterprises. Since inception in 2014, Samunnati has disbursed over Rs 4,200 crore in loans. CropIn Technology Solutions Krishna Kumar and Kunal Prasad, co-founders, CropIn Technology Solutions. (L-R) Founded: 2010 Founders: Krishna Kumar (CEO), Kunal Prasad Based: Bengaluru Key investors: Chiratae Ventures, Bill and Melinda Gates Foundation, Ankur Capital, Beenext What it does: CropIn provides softwar-ebased farming solutions to all key stakeholders in the agricultural sector.

The Renewables arm of Larsen & Toubro's Power Transmission & Distribution Business has secured a turnkey EPC contract, from the consortium of ACWA Power and the Water and Electricity Holding Company for Sudair Solar PV Project of 1.5GW capacity, a company statement said. View More

The Renewables arm of Larsen & Toubro's Power Transmission & Distribution Business has bagged an order to set up Sudair solar power project of 1.5 GW in Riyadh province of Saudi Arabia . The company did not disclose the value of the contract, but said the orders fall under the "major" category, which ranges between Rs 5,000 crore and Rs 7,000 crore, according to the classification of contracts. The Renewables arm of Larsen & Toubro's Power Transmission & Distribution Business has secured a turnkey EPC contract, from the consortium of ACWA Power and the Water and Electricity Holding Company for Sudair Solar PV Project of 1.5GW capacity, a company statement said. According to statement this project is considered the largest Solar Plant in Saudi Arabia with power purchase agreement (PPA) signed. It is also one of the largest such plants in the world. The EPC (engineering procurement construction) contract, was awarded by the consortium of ACWA Power and the Water and Electricity Holding Company, a subsidiary of the Public Investments Fund of Saudi Arabia (PIF). "We have been building efficient power transmission and distribution networks with modern substations and transmission lines in this region for more than two decades. This is yet another recognition of our capabilities to construct mega projects to speed and scale," T Madhava Das, Whole-Time Director & Senior Executive Vice President (Utilities), L&T said. The project that is coming up in Riyadh Province has a 30.8 square kilometre land parcel available to install a total capacity of 1.5GW PV Solar modules with associated single axial tracker and inverters. "With several GWs of solar EPC experience, L&T has emerged as a global technology player for solar plants," said S N Subrahmanyan, CEO & Managing Director, Larsen & Toubro in the statement. L&T has been a provider of EPC services for several green projects in recent years. The L&T has over 2.1 GW of Utility Scale Solar projects commissioned and are also operating and maintaining several of them. Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services with over USD 21 billion in revenue. It operates in over 30 countries worldwide.

Yamaha has developed this motor which they claim has the highest output in its class View More

IWATA: Japanese motorcycle maker Yamaha has announced that the development of a brand-new electric motor with the highest class in output density. The company informed that the motor will be used in hyper EV ’s and will be made available for prototype development later this year. The company, which has been accepting commissions for developing prototype electric motors in the range of 35–200 kW since 2020, states that the newly developed unit has a maximum output in the 350-kW class and an operating voltage of 800V. The main feature of this motor is its compact construction. It treats the mechanical and electrical components as one and integrates the gear and inverter into one unit. As for the commissioning of its development, Yamaha will leverage the basic know-how of the motor to allow takers to have better flexibility to work with the motor and tailor it according to needs. The motor will be exhibited at the Automotive Engineering Exposition 2021 Yokohama scheduled for May 26 to May 28, 2021.

The company has earmarked 300 products, which are to be picked up from the small and medium enterprises, its executive director Anil Joshi said while speaking at a webinar on reigniting growth for the MSMEs. View More

State-owned Bharat Heavy Electricals Ltd (BHEL) will procure Rs 3,000 crore of products from small businesses annually as part of the government's efforts to encourage them, a senior official said on Friday. The company has earmarked 300 products, which are to be picked up from the small and medium enterprises, its executive director Anil Joshi said while speaking at a webinar on reigniting growth for the MSMEs . "Going by the government's thrust areas, we see a lot of market potential for local manufacturing in fields such as e-mobility, railway electrification, renewables and in energy conservation, for which we will need products such as inverters, transformers, power conditioning units, solar modules, LEDs, batteries, battery chargers, etc...," Joshi was quoted as saying in a press statement issued by MVIRDC World Trade Center. BHEL has launched an online technology platform to collaboratively support domestic industry in technology innovation and problem-solving with its infrastructure and resources to meet national targets, Joshi said. India's size of the electrical machinery industry is around USD 50 billion, which is far low compared to the USD 200 billion target set under the Mission Plan of 2012-22 for this industry, the statement said.

The college admission councils should make allowances for students who wish to get off the conveyor belt of education till the world is safe again. India’s new National Education Policy, after all, is bullish on academic flexibility View More

Given India’s worsening covid situation, the government has decided to cancel the Central Board of Secondary Education’s Class X examinations and postpone those for Class XII, both of which were to start next month. A meeting to decide on a revised exam schedule will be held on 1 June, the Centre said. The move should ease the anxiety of students and parents who face the unfair dilemma of opting for either safety vis-a-vis the pandemic or the timely acquisition of an educational certificate that’s considered a vital rite of passage. Unlike in the West, where taking a year’s break from studies (for travel or other pursuits) is encouraged, a year dropped in India is usually seen as a deviation that one needs to explain, unfortunately. This is to be done in sheepish tones, often, as it’s seen as a sign of academic inadequacy. Such attitudes need to change, especially now with covid-19 having wreaked havoc on schooling. Pushing school-leaving exams forward is a good idea. But college admission councils should make allowances for students who wish to get off the conveyor belt of education till the world is safe again. India’s new National Education Policy, after all, is bullish on academic flexibility. TRENDING STORIESSee All Premium Telangana imposes night curfew till April 30. What's allowed, what is not 1 min read . 02:02 PM IST Premium Jharkhand announces 8-day lockdown amid rising covid cases. Details here 1 min read . 04:04 PM IST Premium ICSE class 10 board exam cancelled, status quo on class 12th exams. Details here 1 min read . 01:10 PM IST Premium Uttar Pradesh govt imposes weekend lockdown in the entire state. Details here 1 min read . 02:21 PM IST Share Via Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter. Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Indian Energy Exchange has stated that this is a first-of-its kind initiative for exchanges to expand their power markets beyond India to South Asia towards building an integrated South Asian regional power market View More

NEW DELHI : New Delhi: In a boost to India’s efforts to create a regional power grid, cross border electricity trade has started on the Indian Energy Exchange (IEX). IEX on Monday announced the “commencement of the Cross Border Electricity Trade (CBET)" on its platform. "This is a first-of-its kind initiative for the exchanges to expand their power markets beyond India to the South Asia region towards building an integrated South Asian regional power market," it said. TRENDING STORIESSee All Premium Telangana imposes night curfew till April 30. What's allowed, what is not 1 min read . 02:02 PM IST Premium Jharkhand announces 8-day lockdown amid rising covid cases. Details here 1 min read . 04:04 PM IST Premium ICSE class 10 board exam cancelled, status quo on class 12th exams. Details here 1 min read . 01:10 PM IST Premium Uttar Pradesh govt imposes weekend lockdown in the entire state. Details here 1 min read . 02:21 PM IST This comes against the backdrop of India already notifying cross-border trading regulations. While India has been procuring hydropower from Bhutan, it is also supplying electricity to Bangladesh and Nepal. The plan now is to include the option of building an overhead electricity link with Sri Lanka. India is trying to create a common pool for neighbouring countries. “Nepal, Bangladesh and Bhutan are to be among the first beneficiaries, owing to the connectivity with the Indian electricity grid," reads a statement issued by IEX on Monday. Speaking at Mint’s annual energy conclave in March last year, power and new and renewable energy minister Raj Kumar Singh had said it was his aim to have a regional power grid that included Myanmar, Bhutan, Bangladesh, Nepal and Sri Lanka. The proposed market, which will include these countries, could aid regional peace and improve utilization of generation assets—including the stranded assets in India—and efficient price discovery. “In a remarkable development following the notification of CBET regulations by CERC (the Central Electricity Regulatory Commission) in the year 2019 and the recent notification of CBET rules in March 2021 by the Central Electricity Authority (CEA), NVVN (NTPC Vidyut Vyapar Nigam Ltd) has secured approval from the CEA, for Nepal’s participation in the day-ahead market on the Exchange," the statement added. Cross-border energy trade is a key part of Prime Minister Narendra Modi’s South Asia-focused neighbourhood-first policy. The government has set up a high-level group headed by former Union power secretary Ram Vinay Shahi and tasked it with helping build a South Asia-focused energy security architecture, as reported by Mint earlier. “Currently, the cross border trade with neighbouring countries for India stands at about 18 BU (billion units) conducted through the medium to long term bilateral contracts. As per the CEA and CERC, as on date, India imports 8.7 BU from Bhutan and exports 2.37 BU and 7 BU to Nepal and Bangladesh, respectively. The power trade with these countries is expected to increase to about 40 BU by FY22 and 70 BU to FY 27 according to a study by IRADe," the statement added. MORE FROM THIS SECTIONSee All Premium Premium Cinema owners appeal government for aid as second covid wave hits business 3 min read . 12:51 PM IST Premium Premium Ajay Devgn adds to list of Bollywood stars making web debuts 1 min read . 12:44 PM IST Premium Premium Telugu film ‘Vakeel Saab’ cruises past Hindi, Tamil versions 1 min read . 11:04 AM IST Premium Premium How will the RBI’s ₹1 trillion bond buying plan impact you? 2 min read . 08:09 AM IST India is already moving ahead with its ambitious global electricity grid plans to roll out “One Sun, One World, One Grid" (OSOWOG). The global grid plan has been spread across three phases. The first phase deals with the Middle East-South Asia-South-East Asia (MESASEA) interconnection for sharing green energy sources such as solar for meeting electricity needs, including peak demand. The second phase connects MESASEA grid with African power pools; the third and final phase is about global interconnection. “India is centrally placed in South Asia region and shares boundaries with several countries in the region. Due to its unique location as well as sound electricity infrastructure, we must lead in energy cooperation and development of market in the South Asia, regional transmission infrastructure development as well as facilitate efficient utilization of the energy resources for the cross-border entities. Nepal is the first country to avail the benefit of buying day ahead power from power exchange through NVVN," said Mohit Bhargava, chief executive officer, NVVN and executive director, responsible for renewable energy at state run NTPC Ltd in the statement. “We also aspire to work closely with Bhutan and Myanmar in future," Bhargava added. Share Via Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter. Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

The Indian residential AC market is estimated to be around 7-7.5 million units per annum and over 15 companies compete in the segment View More

NEW DELHI : Electronics and appliances manufacturer, Godrej has claimed that the indigenisation ratio of products used in appliances such as air conditioners will go up by 75% in the next three to five years. An official of the company, in a PTI report, claimed that they plan to achieve this indigenisation in view of the production-linked incentive (PLI) scheme by the government for air-conditioners, to encourage the brands to invest and create a component ecosystem. TRENDING STORIESSee All Premium Telangana imposes night curfew till April 30. What's allowed, what is not 1 min read . 02:02 PM IST Premium Jharkhand announces 8-day lockdown amid rising covid cases. Details here 1 min read . 04:04 PM IST Premium ICSE class 10 board exam cancelled, status quo on class 12th exams. Details here 1 min read . 01:10 PM IST Premium Uttar Pradesh govt imposes weekend lockdown in the entire state. Details here 1 min read . 02:21 PM IST Godrej Appliances is also aiming at increasing the value in sales by around 15%, in comparison to the year 2019. The company expects pent-up demand and new work from home culture to aid sales this year. Godrej Appliances Business Head and Executive Vice-President Kamal Nandi said, "We expect around 15-20% growth (in value terms) in the AC market this year in comparison to 2019." In terms of prices, buyers might experience a further uptick in costs of products. Godrej Appliances had recently announced price hike which was attributed to inflationary pressure on the raw material inputs. The company claims they might have to take up another hike if the costs continued to grow. When being asked about any possible impact on the sale of AC due to curfew in Maharashtra and some other parts of the country, Nandi said it may have an impact of around 15 per cent on the sale but it could be realised once the market opens. Godrej Appliance has around 5-6% share of the residential AC market; while in the washing machine, it has around 10%; and 15% in refrigerators, said Nandi. The company recently added a new manufacturing line for AC at its Shirwal, Pune-based plant, which would augment its production capacity of four lakh units per annum with an investment of around ₹50 crore. MORE FROM THIS SECTIONSee All Premium Premium Cinema owners appeal government for aid as second covid wave hits business 3 min read . 12:51 PM IST Premium Premium Ajay Devgn adds to list of Bollywood stars making web debuts 1 min read . 12:44 PM IST Premium Premium Telugu film ‘Vakeel Saab’ cruises past Hindi, Tamil versions 1 min read . 11:04 AM IST Premium Premium How will the RBI’s ₹1 trillion bond buying plan impact you? 2 min read . 08:09 AM IST Besides AC, its Shirwal plant also manufactures washing machines, refrigerators, chest freezers, and medical refrigerators. When asked about the indigenisation efforts of the company, Nandi said that currently, it has gone for backward integration for residential AC and now, components such as heat exchangers, IDU, ODU are manufactured by it. "We are still dependent on a lot of imported components such as compressors and electronic. We are working towards indigenising them," he said. The company expects that after the PLI scheme announced by the government, several brands operating here would invest in components. "Over a period of the next 3-5 years, we should be able to increase the value addition from the current 35-40% to 70-75%," he added. Currently, components such as inverter PCBs and compressors are imported by the company. "With the PLI scheme coming for AC, there would big and small investments coming in this country, and we should either locally purchase them or indigenise them," he said. Nandi added that now, Godrej Appliances has almost completed the indigenisation process for its refrigerator segment, where except for a few electronic components, everything is sourced domestically. "We are manufacturing here almost every part taking help of the local component ecosystem, and component in very small quantity is imported," he said. For washing machines as well, the company is almost manufacturing here with the help of the local component ecosystem except for some electronic inputs. According to Nandi, who also heads the industry body CEAMA, currently on an average, the manufacturers import 75 per cent of component (by value) for a residential AC and the rest 25% is done through local value additions. "However, I expect this to be reversed in the next five-six years," he said. Share Via Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter. Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Aditya Birla Sun Life AMC Ltd has filed a red herring prospectus with the Sebi for an IPO, Aditya Birla Capital said in a regulatory filing View More

NEW DELHI: Here are top 10 stocks that could be in the news today. ACC Ltd: The cement manufacturer said its profit after tax rose by 74% to ₹563 crore in the January to March quarter as compared to ₹323 crore in the same quarter of previous fiscal. TRENDING STORIESSee All Premium Telangana imposes night curfew till April 30. What's allowed, what is not 1 min read . 02:02 PM IST Premium ICSE class 10 board exam cancelled, status quo on class 12th exams. Details here 1 min read . 01:10 PM IST Premium Jharkhand announces 8-day lockdown amid rising covid cases. Details here 1 min read . 04:04 PM IST Premium Uttar Pradesh govt imposes weekend lockdown in the entire state. Details here 1 min read . 02:21 PM IST Aditya Birla Capital: The company's unit Aditya Birla Sun Life AMC Ltd has filed a red herring prospectus with the Sebi for an IPO, Aditya Birla Capital said in a regulatory filing. The IPO comprises of an offer for sale of up to 28,50,880 equity held by the company, and up to 3,60,29,120 equity shares held by Sun Life (India) AMC Investments Inc. Both sets of shares have a face value of ₹5 each. Aviation stocks: The recovery in domestic passenger traffic that the sector was witnessing till February has stalled, owing to rising covid-19 cases and related curbs. Moreover, aviation turbine fuel (ATF) prices have increased sequentially. The upshot: both IndiGo and SpiceJet are expected to report losses for Q4FY21. Bajaj Consumer Care Ltd: The FMCG firm reported over two-fold growth in consolidated net profit at ₹54.67 crore for the fourth quarter ended March 31, 2021. ICICI Prudential Life Insurance: Despite reporting a good set of overall numbers, an accelerated provisioning of ₹200 crore for the pandemic has crimped net profit of ICICI Prudential Life by 64.2% to ₹64 crore in the January-March quarter. IT stocks: The Indian information technology (IT) sector is staring at an alarming attrition rate in FY22 amid a revival in demand with companies battling to hire the best talent in digital skills. Jubilant Pharmova: The company's unit Jubilant Pharma announced that it has developed a novel oral formulation of Remdesivir, which, it said, is likely to ease the capacity constraint that injectable formulation faces and ensure wider and timely availability for covid-19 patients. MORE FROM THIS SECTIONSee All Premium Premium Markets fall 1% after Maharashtra govt announces stricter covid restrictions 1 min read . 03:18 PM IST Premium Premium Markets erase early gains on fears Maharashtra may impose complete lockdown 1 min read . 12:55 PM IST Premium Premium Amid fresh covid surge, vaccination, capital bring hope for PVR, Inox Leisure 2 min read . 12:28 PM IST Premium Premium 'Oxygen' rally in Indian stock market. Name just enough to lift shares 1 min read . 12:29 PM IST Macrotech Developers: The company's shares listed at ₹436 per share on its stock exchange debut on Monday, at a discount of 10% on the NSE from its issue price of ₹486 per share. Tech Mahindra: The IT major said it has acquired DigitalOnUS, a hybrid cloud and DevOps services provider, for $120 million (about ₹898 crore) to augment hybrid-cloud offerings for enterprise customers globally. Zensar Technoliges Ltd: The company announced that completion of the merger of its US units Keystone Logic Inc., Professional Access Ltd, Cynosure Inc. and Indigo Slate Inc., into Zensar Technologies Inc. Share Via Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter. Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

The recovery in domestic passenger traffic that the sector was witnessing till February has stalled, owing to rising covid-19 cases and related curbs View More

InterGlobe Aviation Ltd and SpiceJet Ltd are expected to post miserable financial results for the March quarter (Q4FY21). InterGlobe runs IndiGo, India’s largest airline. The recovery in domestic passenger traffic that the sector was witnessing till February has stalled, owing to rising covid-19 cases and related curbs. Moreover, aviation turbine fuel (ATF) prices have increased sequentially. The upshot: both IndiGo and SpiceJet are expected to report losses for Q4FY21. TRENDING STORIESSee All Premium Telangana imposes night curfew till April 30. What's allowed, what is not 1 min read . 02:02 PM IST Premium Jharkhand announces 8-day lockdown amid rising covid cases. Details here 1 min read . 04:04 PM IST Premium ICSE class 10 board exam cancelled, status quo on class 12th exams. Details here 1 min read . 01:10 PM IST Premium Uttar Pradesh govt imposes weekend lockdown in the entire state. Details here 1 min read . 02:21 PM IST Prabhudas Lilladher Pvt. Ltd expects losses for the industry to widen sequentially given the dent in consumer confidence leading to lower unit revenues in an already seasonally weak quarter and 25% quarter-on-quarter rise in ATF prices. View Full ImageSatish Kumar/Mint Share Via “We expect IndiGo/SpiceJet each to report sequential dip in passenger load factors (PLFs) to 71%/77%. We expect yields to decline by 3%/4% for IndiGo/ SpiceJet, respectively," said the brokerage firm in a report on 7 April. Cash burn remains a key monitorable too. In its December quarter earnings call, IndiGo said its cash burn had dropped to an average of ₹15 crore per day for the quarter from ₹25 crore per day in the September quarter. Further, this time around, investors can evaluate SpiceJet’s financial health better, given that the balance sheet would be available as annual results will be released too. Meanwhile, the industry’s woes are far from over. The new covid-19 wave will hurt travel demand, which in turn will impact the profitability of airlines. Daily fliers have shown a declining trend so far this month. ICICI Securities Ltd’s analysts wrote in a report on 19 April, “Weekly average daily fliers came in at around 193,000 in the week ended 17 April versus around 232,000 in the week ended 10 April." MORE FROM THIS SECTIONSee All Premium Premium The covid-19 risk to markets isn’t all over 2 min read . 05:29 PM IST Premium Premium Markets fall 1% after Maharashtra govt announces stricter covid restrictions 1 min read . 03:18 PM IST Premium Premium Markets erase early gains on fears Maharashtra may impose complete lockdown 1 min read . 12:55 PM IST Premium Premium Amid fresh covid surge, vaccination, capital bring hope for PVR, Inox Leisure 2 min read . 12:28 PM IST According to the brokerage firm, in February and March, monthly average daily passenger traffic stood at around 280,000 and 249,000, respectively. “Rising covid cases and increasing lockdown restrictions in various states will remain an overhang on air traffic," point out ICICI Securities’ analysts. To be sure, positive news flow on vaccinations would help boost confidence to travel. But from a near-term perspective, rising covid-19 cases are likely to keep sentiments weak for aviation stocks. Analysts are now looking at the December quarter for signs of meaningful recovery. So far this calendar year, shares of IndiGo and SpiceJet have declined 11% and 35%, respectively. In comparison, the Nifty 500 index has increased nearly 5% during the same time. IndiGo’s ample cash reserves and robust balance sheet can help it deal with the current crises relatively better than smaller listed peer SpiceJet. IndiGo has also gained domestic market share during the pandemic. According to the Directorate General of Civil Aviation, IndiGo’s market share stood at 54.2% in February 2021 versus 47.9% in January 2020. Share Via Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter. Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

The market capitalisation of BSE-listed companies dived Rs353,421 crore to 20,177,325.24 crore View More

Investors' wealth tumbled over ₹3.53 trillion on Monday as markets crashed amid a sharp spike in coronavirus cases in the country. The benchmark index, Sensex plummeted 882.61 points or 1.81% to close at 47949.42 and the broader index, Nifty lost 258.40 points or 1.77% to close at 14359.45. The indices scaled record high of 52,516 and 15,431 on February 16 amid an extended rally post euphoria over Union Budget on February 1. Following this, the market capitalisation of BSE-listed companies dived ₹353421 crore to 20177325.24 crore. TRENDING STORIESSee All Premium Telangana imposes night curfew till April 30. What's allowed, what is not 1 min read . 02:02 PM IST Premium ICSE class 10 board exam cancelled, status quo on class 12th exams. Details here 1 min read . 01:10 PM IST Premium Jharkhand announces 8-day lockdown amid rising covid cases. Details here 1 min read . 04:04 PM IST Premium Uttar Pradesh govt imposes weekend lockdown in the entire state. Details here 1 min read . 02:21 PM IST From the 30-share pack, 28 companies were trading lower led by banking and financial companies - PowerGrid Corporation was the top loser in the Sensex pack, dropping over 4.17%, followed by ONGC, IndusInd Bank, Kotak Mahindra Bank, Larsen & Toubro, Bajaj Finserv, Asian Paints, M&M, NTPC, Bajaj Auto, Axis Bank, HDFC, UltraTech Cement and Bajaj Finance losing more than 3%. "India's benchmark indices ended lower today amid fears of impact of the second wave of Covid-19 and the consequent lockdowns on the economy. Nifty opened gap down and made a feeble attempt to rise through the day" said Deepak Jasani, Head of Retail Research, HDFC Securities. "Nifty has formed a second down gap in 5 days signifying the underlying weakness. However the close today was near the intra day high thereby making a hanging man type of formation. This could mean some more upside recovery in the near term. However at higher levels, markets will keep seeing repeated selling given the impact of Covid second wave on businesses and the economy" he added. India's total tally of covid-19 cases crossed 1.50 crore with a record single-day rise of 2,73,810 new coronavirus infections, while the active cases surpassed the 19-lakh mark, according to the Union Health Ministry data updated on Monday. Ajit Mishra, VP - Research, Religare Broking Ltd said "Markets opened on a weak note and lost over one and a half percent amid mixed cues. Participants reacted negatively to increasing restriction announcements from state governments while ignoring the positive global cues". "It seems like our markets have decoupled from global counterparts due to rising covid cases in India. Going forward, the covid-19 situation and the pace of vaccination would be a key monitorable for the markets. Further, the earnings announcement from select Nifty majors would induce stock-specific volatility. We maintain our cautious stance in the near term" he added. MORE FROM THIS SECTIONSee All Premium Premium Markets fall 1% after Maharashtra govt announces stricter covid restrictions 1 min read . 03:18 PM IST Premium Premium Markets erase early gains on fears Maharashtra may impose complete lockdown 1 min read . 12:55 PM IST Premium Premium Amid fresh covid surge, vaccination, capital bring hope for PVR, Inox Leisure 2 min read . 12:28 PM IST Premium Premium 'Oxygen' rally in Indian stock market. Name just enough to lift shares 1 min read . 12:29 PM IST From the broader market, the BSE midcap and smallcap fell by 1.93% and 1.64%, respectively. Market breadth was negative with 2,243 stocks ending lower against 742 ending higher on BSE. 187 stocks were unchanged. Number of shares rising to their 52-week highs stood at 130 against 67 touching their 52-week lows. Tracking the negative sentiment in the market, 220 stocks hit their upper circuits against 353 falling to their lower circuits, respectively. Foreign institutional investors have net bought $6.93 billion in equity and net sold $2.33 billion in debt since the beginning calendar year, while domestic institutional investors have net sold ₹19,303.35 crore worth of stocks, according to data on the exchanges. Share Via Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter. Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.