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President Droupadi Murmu, on Friday visited an exhibition to showcase space technologies and achievements, at Bharat Mandapam, on the maiden <keyword id="22301946" type="General" weightage="100" keywordseo="National-Space-Day" source="keywords">National Space Day</keyword>. Union Minister Dr Jitendra Singh and <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="153" meta.entityid="ISRO">ISRO</keyword> Chairman S Somanath were also present. <keyword id="19939985" type="General" weightage="20" keywordseo="President-Murmu" source="keywords">President Murmu</keyword> extended her greetings on the occasion of the first National Space Day and welcomed the decision to celebrate Space Day on the day <keyword id="19990220" type="General" weightage="20" keywordseo="Chandrayaan" source="keywords">Chandrayaan</keyword> landed on the <keyword id="19899207" type="General" weightage="20" keywordseo="moon" source="keywords">Moon</keyword>. "It was a glorious moment for all the Indians when ISRO's Chandrayaan landed on the moon. I saw the live telecast of that moment, I was so proud that day like other Indians. To celebrate National Space Day on this occasion is a commendable step. I congratulate all of you on the first National Space Day. ISRO has achieved many feats since its inception". She also expressed her happiness with the student's participation in the event "Happy to see students' participation in this event." Highlighting the significance of <keyword id="19929542" type="General" weightage="20" keywordseo="space-exploration" source="keywords">space exploration</keyword>, she added "Space exploration has extended human's ability and help complete the imagination of humankind. Space exploration is exciting and challenging at the same time. Health, transportation, environment, energy, security and information technology are benefitted due to the growth in the <keyword id="20242397" type="General" weightage="20" keywordseo="space-sector" source="keywords">space sector</keyword>". The president termed the growth of the ISRO as extraordinary, "The growth of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s space sector is extraordinary, be it Mangalyan mission that was accomplished through minimum resources or launching more than 100 satellites at a time. we have achieved many such feats". She also praised the introduction of private players in the space sector in the country, "Introducing of the private sector in Indian has led to the formation of many <keyword id="22829456" type="General" weightage="20" keywordseo="space-start-ups" source="keywords">space start-ups</keyword> in India. This has allowed the youths of India to explore the space sector". Expressing her happiness about ISRO's plan to make <keyword id="20793131" type="General" weightage="20" keywordseo="space-mission" source="keywords">space mission</keyword> debris-free she said "I am happy that India is moving towards making India's space mission debris-free by 2030". India celebrated its first-ever National Space Day on Friday on the theme "Touching Lives While Touching the Moon: India's Space Saga". On 23 August 2023, India achieved a historic milestone when the Chandrayaan-3 lander completed a soft landing on the moon. This remarkable accomplishment made India the 4th country to accomplish this feat and the 1st to land on the lunar South Pole. In recognition of this achievement, Prime Minister Narendra Modi has declared August 23 as National Space Day.

"A glorious moment for all Indians when Chandrayaan landed on moon" says President Murmu on National Space Day

Australian High Commissioner to <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, <keyword id="20307863" type="General" weightage="20" keywordseo="philip-green" source="keywords">Philip Green</keyword> OAM, on Wednesday, expressed Canberra's willingness to collaborate with New Delhi in the <keyword id="20242397" type="General" weightage="20" keywordseo="space-sector" source="keywords">space sector</keyword> and added that both nations are going ahead with the three collaborative space projects and signing the first Memorandum of Understanding (MoU) today. While speaking to ANI, Philip Green expressed <keyword id="19895799" type="General" weightage="20" keywordseo="Australia" source="keywords">Australia</keyword>'s interest in partnering with India in its <keyword id="19929542" type="General" weightage="20" keywordseo="space-exploration" source="keywords">space exploration</keyword> endeavours, adding that the Australian government has pledged a USD 18 million grant for <keyword id="22187831" type="General" weightage="20" keywordseo="joint-India-Australia-space-projects" source="keywords">joint India-Australia space projects</keyword>. "Here today we are saying that we are keen to be partners for India in its space journey. We're already strategic and quad partners with India and we want to do more with space and my government is backing it," said Philip Green. Today we're signing the first MOU of three that has been settled as a result of an USD 18 million dollar grant for my government specifically, for India-Australia space collaborations," he added. Further, the Australian envoy said they are excited about the <keyword id="20535850" type="General" weightage="20" keywordseo="Indian-space-sector" source="keywords">Indian space sector</keyword> and believe its different and complementary skills can benefit each other. "We're very excited about the Indian space sector and we're particularly excited about the fact that Australia has different and complementary skills," the Australian envoy said to ANI. "We're a very big continent with very few numbers of people, which means we have very dark skies. We have great abilities in terms of space tracking," he added. Congratulating PM Modi for his victory in the 2024 general elections, Philip Green said that Australia is looking to work even more closely in the future. He also disclosed during the interview that there could be high-level visits by Australia and India to galvanise the already strong partnership. "We congratulate Modi and his government on re-election. We look forward to working even more closely as we go forward. There are three powerful drivers in our bilateral relationship, our new strategic alignment, the very strong complementarity between our economies and what we call the human bridge, the more than a million people of Indian origin who now make Australia their home," said Philip Green. "We're planning visits I'm not going to announce them to you today, but I can assure you there will be high-level visits by Australia and India to galvanise what is already a strong partnership," he added On April 30, "the Australian Government announced funding for three collaborative space projects that will strengthen the space economy for the two partner nations," said the <keyword id="22187832" type="General" weightage="20" keywordseo="Australian-Space-Agency" source="keywords" meta.keywordsubtype="org" meta.entityname="Australian Space Agency" meta.hostid="261" meta.entityid="Australian Space Agency">Australian Space Agency</keyword> in an official statement. "The projects will receive a total of A$18 million (Rs 98 crore) as part of the International Space Investment India (ISI) Projects program," the statement added. Each project will include a number of Australian and Indian partners, who will help address climate change, boost manufacturing, and advance artificial intelligence, among other objectives.

"Keen to be partners with India in its space journey": Australian envoy on space collaboration projects

Watching the <keyword id="19915128" type="General" weightage="20" keywordseo="Chandrayaan-3" source="keywords">Chandrayaan-3</keyword> lander complete its soft-landing on the far side of the Moon was undoubtedly one of the most proud moments for all Indians in 2023. And yet, we tend to forget that this was an achievement that was somehow completed with a budget less than that of some Bollywood movies. Thanks to monumental achievements such as Chandrayaan and Aditya-L1, in addition to increased government support and a surge in private sector involvement, India’s <keyword id="20242397" type="General" weightage="20" keywordseo="space-sector" source="keywords">space sector</keyword> has been rapidly evolving. However, a defining theme of all the past successful missions in the space sector for <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="261" meta.entityid="ISRO">ISRO</keyword> has been its ability to achieve them in the most economical way possible, often at one-tenth of the cost compared to its western counterparts. Now, as more funds flow in from both public and private routes, India’s space sector is at the precipice of a unmatched growth phase. With another hike in the pipeline for the space sector, the <keyword id="19955368" type="General" weightage="20" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword> is poised to further boost India’s position in the <keyword id="22469635" type="General" weightage="20" keywordseo="global-space-race" source="keywords">global space race</keyword> by enhancing funding, providing incentives, and fostering international collaborations. <h2>How does India’s space budget compare to other countries?</h2>As per the interim budget announcement, India’s space budget for 2024-25 will stand at around Rs 13,042.75 crores, a 4% increase from the previous year’s Rs 12,545 crore. To truly contextualise this, let’s compare it with other leading space-faring nations. <div type="Article" hostid="261" msid="111827903" title="Union Budget 2024 for Railways: Expectations focused on improving passenger safety, experience, infrastructure" mstype="2" mssubtype="0"></div>The USA, through <keyword id="19935155" type="General" weightage="20" keywordseo="NASA" source="keywords" meta.keywordsubtype="org" meta.entityname="NASA" meta.hostid="261" meta.entityid="NASA">NASA</keyword>, allocated about Rs 2,12,000 crores ($25.4 billion) in 2023, focusing on the Artemis program, <keyword id="20999262" type="General" weightage="20" keywordseo="Mars-exploration" source="keywords">Mars exploration</keyword>, and advanced satellite technologies, as per the The Planetary Society. China’s space program received approximately Rs 1,18,000 crores ($11 billion), supporting lunar missions, Mars exploration, and building its own space station, as per media reports. Meanwhile, The European Space Agency (ESA) had a budget of around Rs 63,700 crores ($7.6 billion) last year to fund a range of scientific missions, Earth observation, and international collaborations. While India's budget remains categorically minuscule in comparison, it prioritises cost-effective missions and innovative technologies, often achieving impressive results with fewer resources. However, many are concerned how this financial constraint could affect infrastructure development, cause delays in critical projects like <keyword id="6797456" type="General" weightage="20" keywordseo="gaganyaan" source="Orion">Gaganyaan</keyword>, and restrict the private sector's growth and innovation. Furthermore, it may also limit India's influence in global space governance and international collaborations, at a time when most countries seem to be set on a race to transform themselves into a space-faring society. <h2>Upcoming missions and international collaborations</h2>While space spending can be useful for many quality of life aspects — such as agriculture and climate preparedness — it is often the major space missions that steal the spotlight. Key projects in the 2024 budget include the Gaganyaan mission, which aims to send Indian astronauts into space. Additionally, the Mars Orbiter Mission 2 (<keyword id="20475168" type="General" weightage="20" keywordseo="mangalyaan" source="keywords">Mangalyaan</keyword> 2) is slated for a 2024 launch, which — if successful — could mark a significant step in India's interplanetary exploration prowess. <div type="Article" hostid="261" msid="111689743" title="Union Budget 2024: A handy FAQ guide to decode the upcoming budget" mstype="2" mssubtype="0"></div>International collaborations are also a significant cornerstone of India’s space strategy. The NASA-ISRO Synthetic Aperture Radar (NISAR) mission, scheduled for 2024, exemplifies such partnerships. This mission will provide critical data for understanding Earth’s changing ecosystems, ice mass, and natural hazards. International collaborations are crucial because they help a great deal with enhancing technical expertise and shared resources. As such, joint ventures like NISAR and partnerships with other space agencies help India stay competitive globally. Another significant collaboration is with the United States, where an Indian astronaut will be sent to the International Space Station (ISS) by the end of 2024. <h2>Indian leadership in space tech</h2>The budget may be low, but India’s space spirit is certainly not weak. Despite limited resources, India has demonstrated strengths in many aspects of space technologies. For instance, the Indian Space Research Organisation (ISRO) is known for its reliable and cost-effective launch vehicles, like the PSLV and GSLV, which have successfully placed numerous satellites into orbit. In a tremendous feat, the PSLV-C37 successfully launched 104 satellites in a single flight in September 2023! <div type="Article" hostid="261" msid="111688482" title="Budget A-Z, for the GenZ: A fun and handy guide for major terms around upcoming Union Budget" mstype="2" mssubtype="0"></div>India also excels in manufacturing satellites for communication, weather monitoring, and Earth observation. The upcoming deployment of 50 AI-powered GEOINT satellites will enhance national security and surveillance. With the right investments, India could lead globally in low-cost space missions and innovative satellite technologies. <h2>Long-term visions for India’s space program</h2>The long-term vision for India's space program, as outlined in the Budget, includes establishing a dedicated space station by 2035 and increasing the country’s share in the global space economy. <div type="Article" hostid="261" msid="111807009" title="Despite pandemic and growing health scares, India’s budget share for healthcare continues to decline" mstype="2" mssubtype="0"></div>The Indian government aims to capture nearly 10% of the global space market by 2030, up from its current 2-3% share. This ambition aligns with broader geopolitical and economic goals, positioning India as a key player in space exploration and satellite services. Budget 2024 will be crucial for strengthening India’s position in the global space race. As the country gears up for upcoming missions and technological advancements, the global space community will be closely watching India's progress.

Budget 2024: How will budget affect India’s position in the global space race?

<keyword id="20104772" type="General" weightage="20" keywordseo="Hyundai-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors" meta.hostid="261" meta.entityid="Hyundai Motors">Hyundai Motors</keyword> India's IPO worth Rs 27,870 crore, the largest India has ever seen, got off to an unhurried start today, with 18% of the total offer subscribed on the first day. The IPO, which closes on October 17, has already attracted significant attention from retail and institutional investors. The issue was subscribed 0.27x in the retail category, 0.05x in the QIB (qualified institutional buyers) category and 0.13x in the NII (non institutional investors) category. <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">Retail investors</keyword> placed bids for 1.3 crore shares, as against the 4.94 crore shares which were offered to them. In contrast, Hyundai employees showed strong support for the IPO, bidding for 6,28,509 shares, as against the 7,78,400 shares allocated to them. Just a day before, Hyundai had raised Rs 8,315.3 crore from about 225 <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword>. The list included several marquee global names, like the <keyword id="22882636" type="General" weightage="20" keywordseo="Government-of-Singapore" source="keywords" meta.keywordsubtype="org" meta.entityname="Government of Singapore" meta.hostid="261" meta.entityid="Government of Singapore">Government of Singapore</keyword>, New World Fund Inc, and the Canada Pension Plan Investment Board. These institutions, along with Fidelity, Government Pension Fund Global, and American Funds Insurance Series New World Fund, invested a combined Rs 2,191.66 crore in the company. Other notable participants in the anchor round included Vanguard, Blackrock, Goldman Sachs and JP Morgan. Hyundai Motor India allocated 4.2 crore equity shares to these anchor investors at Rs 1,960 per share. Also, 34.42% of the entire allocation to anchor investors went to 21 domestic mutual funds via 83 schemes. AMCs (asset management companies) like ICICI, Invesco, Kotak and UTI were part of this round. While the current IPO is entirely OFS (offer for sale), which means that no part of the proceeds will go to Hyundai Motor India, the company has announced that it plans to invest more than Rs 33,000 crore over the next 10 years in India. The country is an important market for the South Korean automobile giant, given that it is the 2nd largest OEM (original equipment manufacturer) in the passenger vehicle space in India. However, the market is already preparing for muted listing day gains, with the company's GMP dropping to Rs 59 today. Hyundai is estimated to list at Rs 2,019 per today's GMP, taking the expected gain/loss per share to a minuscule 3.01%, as per data from IPO site Chittorgarh.

India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

The deluge of funds in sectoral, or <keyword id="20296225" type="General" weightage="20" keywordseo="Thematic-Funds" source="keywords">thematic funds</keyword> continued unabashed in September, with investors pouring in Rs 13,254.63 crore via 183 schemes into this category, as <keyword id="20090036" type="General" weightage="20" keywordseo="AMFI" source="keywords" meta.keywordsubtype="org" meta.entityname="AMFI" meta.hostid="261" meta.entityid="AMFI">AMFI</keyword> data showed. In August too, investors had put in Rs 18,117.18 crore via 179 schemes here. The trend has been going strong since July, 2024, which saw <keyword id="20444306" type="General" weightage="100" keywordseo="Sectoral-Funds" source="keywords">sectoral funds</keyword> garner Rs 18,386.35 crores via 174 schemes. In August, 5 new thematic funds were launched on the momentum, which raised Rs 10,202 crore. Last month saw the launch of 4 new sectoral schemes, which garnered around Rs 8,000 crore. However, inflows into <keyword id="21366551" type="General" weightage="20" keywordseo="Equity-Schemes" source="keywords">equity schemes</keyword> fell by 10% in September to Rs 34,419 crore, as compared to Rs 38,239 crore in August 2024. Between April and June 2024, equity <keyword id="19929240" type="General" weightage="20" keywordseo="Mutual-Funds" source="keywords">mutual funds</keyword> had seen a total inflow of Rs 94,222.27 crore, out of which inflows in sectoral funds (Rs 46,731.17 crore) alone were a whopping 50%. While the quantum of inflow in equities, and sectoral funds certainly seems to have tapered down a bit, it continues to remain significantly strong, indicating heavy <keyword id="20354507" type="General" weightage="20" keywordseo="Investor-Interest" source="keywords">investor interest</keyword> in this largely risky segment. Over the last year, AMCs have been pumping out more and more NFOs in this space in a bid to get a bigger chunk of investor's money, and also regulations restrict them from launching new schemes under other categories. However, with the ongoing geopolitical concerns in Middle East, and rising prices of crude oil, the equity markets are set for volatile, uncertain times ahead. However. thematic funds have had a good run so far this year, with YTD (yield to date) of 28.69%, and returns worth 44.71% over the past year. Says Deepak Ramaraju, Senior Fund Manager, Shriram AMC, "On the prima facie, it looks like investors are concerned about the valuation, increasing geo-political uncertainty and moderation in earnings and hence, we have seen redemption from funds. But we will have to wait for how the global events play out – like the Chinese stimulus, the Fed Decision and the RBI’s MPC policy stance in the months to come". As such, you should think twice and carefully assess the risks involved before dipping your hands in the gush of sectoral funds right now. While they may be all the rage, identifying the right sector or theme at the right time is a job best done by professionals. <h2>Don't ignore the risks involved</h2>Siddharth Alok, AVP Investments, Multi Ark Wealth-Epsilon Money explains that sectoral funds come with high risk, since they are more vulnerable to sector-specific downturns. This might not suit the risk palate of many investors. "All markets have cycles, where some sectors naturally outperform while some underperform in the short to medium term. For instance, industrial and consumer discretionary sectors may perform well in a growing economy, while defensive sectors like utilities or healthcare may perform better during downturns". "To make the most of your investments in sectoral funds, it is essential to time your entry and exit in these sectors, which is a difficult job for a regular investor", he continued. In order to maximise your returns in thematic funds, either investors i.e. you should understand the dynamics of the underlying sector or theme, or you should have qualified and experienced advisors who can help you take the right decision with regards to such investments. As a matter of fact, you should approach any new funds only after comparing them with similar existing offerings and ensuring their aptness in your portfolio. As an astute investor, you should understand that such funds offer a very high-risk high return investment proposition and may not fit in the portfolio of every investor. Investing in every <keyword id="20498936" type="General" weightage="20" keywordseo="NFO" source="keywords">NFO</keyword> (New Fund Offering) without assessing the sector's viability and future growth, merely on the back of its current hype is unadvisable.

The newest fad in mutual fund multiverse: Sectoral Funds. Here's why you should not over-invest in them

New Delhi: As the earnings season for the second quarter of FY25 unfolds, <keyword id="19959986" type="General" weightage="20" keywordseo="public-sector-banks" source="keywords">public sector banks</keyword> (PSBs) are expected to see a slight dip in profits compared to the previous quarter, according to a report by <keyword id="19896146" type="General" weightage="100" keywordseo="Motilal-Oswal" source="keywords" meta.keywordsubtype="org" meta.entityname="Motilal Oswal" meta.hostid="153" meta.entityid="Motilal Oswal">Motilal Oswal</keyword>. The report estimates that PSBs' Profit After Tax (PAT) will decline by 0.6 per cent quarter-on-quarter (QoQ), while showing a stronger year-on-year (YoY) growth of 17.2 per cent. "We estimate PSBs to report moderate <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword> of 17.2 pc YoY/ a decline of 0.6 pc QoQ in 2QFY25," the report stated. The slower pace of growth can be attributed to flat net interest margins (NIMs) and a slight increase in loan loss provisions (LLP). The <keyword id="20171160" type="General" weightage="20" keywordseo="Net-Interest-Income" source="keywords">Net Interest Income</keyword> (NII) for PSBs is expected to grow by around 6 per cent YoY, although interest margins are likely to remain under pressure. Despite these near-term challenges, the report suggests that public sector banks are on track to post a compound annual growth rate (CAGR) of 15 per cent between FY24 and FY26, pointing to sustained long-term growth. In the private sector banking space, the report forecasts mixed results for the same quarter. For private banks under the coverage, Pre-Provision Operating Profit (PPoP) is expected to grow by 12 per cent YoY and 1 per cent QoQ. However, PAT growth is predicted to be more modest, increasing by 5 per cent YoY and 0.6 per cent QoQ. "For our private bank coverage universe, we estimate a PPoP growth of 12 pc YoY/1 pc QoQ and a PAT growth of 5 pc YoY/0.6 pc QoQ in 2QFY25," the report added. Looking ahead, private sector banks are expected to experience steady profitability growth, with earnings projected to grow at a CAGR of 12.4 per cent over FY24-FY26. Overall, while both public and private sector banks may face moderate growth in the second quarter due to margin pressures and higher provisions, their long-term earnings prospects remain positive. (ANI)

Profit of public sector banks expected to decline by 0.6 percent QoQ : Motilala Oswal

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

President Droupadi Murmu on Friday voiced concern over increasing <keyword id="20715750" type="General" weightage="20" keywordseo="space-debris" source="keywords">space debris</keyword> as a result of numerous satellites being placed in orbit and lauded <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="261" meta.entityid="ISRO">ISRO</keyword> for setting itself a target to make future <keyword id="20018231" type="General" weightage="20" keywordseo="space-missions" source="keywords">space missions</keyword> debris free by 2030. Murmu was speaking at the celebration of the maiden <keyword id="22301946" type="General" weightage="20" keywordseo="National-Space-Day" source="keywords">National Space Day</keyword> celebrations to mark the first anniversary of the landing of India's Chandrayaan-3 project. "Space debris can cause problems for space missions," she said during the event at Bharat Mandapam in New Delhi that was attended by Union minister Jitendra Singh, Indian Space Research Organisation (ISRO) Chairman S Somanath, engineers, ISRO scientists and representatives of the country's nascent space industry. The president appreciated the ISRO System for Safe &amp; Sustainable Operations Management facility, which ensures continuous progress of space research activities. "I am also happy to note that India is moving forward to make all its space missions debris free by 2030," Murmu said. The president presented awards to winners of the Robotics Challenge and the Bharatiya Antariksh Hackathon on the occasion. The president said ISRO had made remarkable achievements in the space sector as well as invaluable contributions to the country's social and economic development. She appreciated the dedicated scientists who placed India's space programme among the best in the world by using minimum resources. Murmu also expressed confidence that the country would make continuous progress in space science and continue to set new standards of excellence. The president said the progress of India's space sector was extraordinary. "Be it a successfully completed Mars mission with limited resources or the successful launch of more than a hundred satellites at once, we have made many impressive achievements," Murmu said. The president said space exploration had increased the capabilities of human beings and transformed imagination into reality. "But space exploration is a challenging task. Research conducted to solve the problems during space exploration accelerates the development of science and improves human life," she said. The president said many sectors, including health and medicine, transportation, security, energy, environment and information technology, had benefited from developments in the space sector. The president pointed out that with the opening of the space sector to private entities, the number of start-ups had increased at a very rapid pace. "This has not only brought progress in space research but also given new opportunities to our youth to showcase and hone their talents," Murmu said. The president said she was happy to note that just a few months ago, an Indian company successfully launched a single-piece 3D-printed semi-cryogenic engine-powered rocket, the first such achievement. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

President Murmu voices concern over increasing space debris

<ul class="summary-list"><li>Investment firms want to offer private-credit ETFs to ordinary investors, the WSJ reported. </li><li>It would give retail investors access to a $1.7 trillion market. </li></ul>A booming corner of the financial markets that has only been available to institutions might soon be open to everyday investors. <a target="_blank" class="" href="https://www.wsj.com/finance/investing/wall-street-races-to-bring-private-credit-to-the-masses-8a25b624?mod=finance_lead_story">According to The Wall Street Journal,</a> some of the biggest private equity and investment management giants want to offer retail investors access to exchange-traded funds backed by private credit. The term broadly refers to loans made to companies and consumers by nonbank lenders. Historically, fund managers have sold "alternative assets" like private debt to institutional investors at a high cost, generating returns of around 10% in recent years — more than they would have seen from investing in the stock or bond markets.Now, as those institutions slow allocations to private credit, the biggest players in the space want to target a new class of investors. According to the Journal, firms like State Street, Apollo Global Management, and BlackRock are working to roll out private credit ETFs to regular investors. The challenge, though, is building a highly liquid ETF out of illiquid private loans. That hurdle is also what will likely draw the eye of regulators as they ensure the ETFs are appropriate for retail investors. But if these ETFs get approved, they will enable regular investors to tap into a booming market, one that BlackRock expects will more than double to $3.5 trillion by 2028. The race to launch private credit ETFs has heated up in recent months.In May, Capital Group and KKR teamed up to start offering funds investing in both public and private assets—including in private credit—starting next year.Last month, State Street proposed a private debt ETF to the Securities and Exchange Commission. The ETF would blend public debt with private debt on mortgage, corporate, and consumer loans purchased from Apollo Global Management. Anna Paglia, State Street's chief business officer, <a target="_blank" class="" href="https://investors.statestreet.com/investor-news-events/press-releases/news-details/2024/State-Street-Global-Advisors-and-Apollo-Global-Management-Join-Forces-to-Increase-and-Broaden-Investor-Access-to-Private-Markets/default.aspx">said in a statement</a> the ETF would "democratize access to private asset exposures," and make them "more accessible to a wider swathe of investors.""It is our goal to bring these investments to scale and help facilitate the process of making private assets more accessible and liquid over time. We see this as only the beginning of a new wave of innovation as public and private markets increasingly converge," Paglia said. Alternative assets make up a small share—less than 3%—of individual investors' global investments, KKR's head of Global Client Solutions Eric Mogelof, told the <a target="_blank" href="https://www.wsj.com/finance/investing/wall-street-races-to-bring-private-credit-to-the-masses-8a25b624">Wall Street Journal</a>.But he says there is huge potential for that share to grow by over three times. "We anticipate these allocations to rise to 10% or greater in the future," he told the Journal.

Investing giants want to offer retail traders access to a booming sector of financial markets

<ul class="summary-list"><li>A Trump win would benefit energy and financial stocks the most, RBC analysts say.</li><li>They point to Trump's proposed corporate tax cuts and lighter regulation of oil and gas firms. </li></ul>A Donald Trump win in November could be the best outcome for stocks, and two sectors in particular would benefit the most, according to RBC Capital Markets.The bank pointed to stocks in the energy and financials sectors, which former President Donald Trump's policies have long supported.Those sectors would see the most upside from a Trump win, especially if Republicans take both the White House and Congress, the analysts say."Some of the traditional Trump trades continue to emerge in policy assessments. Among our US analysts, Energy and Financials had some of the most bullish tilts in a Republican sweep scenario, and some of the most bearish tilts in a Democratic sweep scenario," analysts said in the report.The report, released Wednesday, draws insights from a survey of RBC analysts.The analysts say a Democratic sweep would be bearish for energy and financials, while a split Congress and win from Vice President Kamala Harris would be more neutral.<h2 id="6f0e8ee9-5b23-4b7b-8652-9193b70c2854">Energy</h2>The analysts say Trump's policies favor domestic fossil fuel production, since they aim to reduce regulatory requirements, which would lower costs. That would likely drive further oil and gas production, they say.They add that less regulation would move pipeline costs lower, which would allow for more construction in transporting and storing infrastructure.Harris's energy policies, on the other hand, would shift more incentive to electric vehicles, posing downside risks to future oil demand, the analysts say."We think the conventional wisdom that Harris is more favorable to alternative Energy than Trump, and that Trump is more favorable to traditional Energy than Harris, is generally correct and that their biases here are one of the biggest differences from an investment perspective between the two on domestic policy," the analysts said.They note, however, that Harris's pledge to continue allowing fracking is a positive for the industry."Harris' insistence that she would not ban fracking makes her less of a risk for traditional Energy than some have believed," they wrote.They acknowledge, too, that Trump's impact on energy and industrial stocks that have benefited from the IRA is "complicated," and that domestic production has reached higher levels under Biden than they did under Trump.<h2 id="224d937d-67af-4f7a-be3c-f2596a6a0209">Financials</h2>For financials, the analysts say that Trump's corporate tax cuts are the biggest reason for their bullish outlook.In a speech last month, Trump said he would push to lower the corporate income tax rate to 15%. During his presidency, his 2017 Tax Cuts and Jobs Act lowered the corporate tax rate to 21%, a decrease from 35%.Harris, meanwhile, plans to raise the corporate tax rate from 21% to 28%.The analysts also see Trump, and Republicans in general, creating a more favorable regulatory environment with less oversight for financials. "Specifically, we believe the regulatory approval process for larger bank deals would be less onerous and the timelines could be accelerated, which would help stimulate more M&amp;A across our space," RBC's regional bank analysts said.Some officials, though, have sounded the alarm on Trump's anti-regulatory stance. Last week, Treasury Secretary Janet Yellen criticized the former administration, saying it didn't do enough to protect the economy."Put simply, we were without crucial tools to identify and help respond to risks to financial stability," she said, noting that the Financial Stability Oversight Council lost funding and staffing during Trump's presidency.<h2 id="a2394f4c-ac96-4e75-a5d8-06fd810bcd4f">Election results to bring more stability</h2>Overall, the analysts say that the more important outcome is simply the end of the election, which has drummed up considerable uncertainty and volatility for markets ahead of the November 5 contest. "The survey results add to our growing belief that the thing that may matter most for US equities (for 2024) is getting past the event so companies and investors know what they are dealing with," the analysts said.

These 2 sectors of the stock market are poised to benefit most if Trump wins in November, RBC says

Amid questions on the depleting <keyword id="20776807" type="General" weightage="100" keywordseo="loan-to-deposit-ratio" source="keywords">loan-to-deposit ratio</keyword> in <keyword id="19895091" type="General" weightage="20" keywordseo="Indian-banks" source="keywords">Indian banks</keyword>, a recent report by <keyword id="19896146" type="General" weightage="20" keywordseo="Motilal-Oswal" source="keywords" meta.keywordsubtype="org" meta.entityname="Motilal Oswal" meta.hostid="269" meta.entityid="Motilal Oswal">Motilal Oswal</keyword> suggests that the loan-to-deposit (LD) ratio is likely to subside on its own in the coming months. The debate on loan-to-deposit ratio (LD), particularly concerning sluggish <keyword id="19998084" type="General" weightage="20" keywordseo="deposit-growth" source="keywords">deposit growth</keyword> and potential risks to <keyword id="20089808" type="General" weightage="20" keywordseo="financial-stability" source="keywords">financial stability</keyword> is raised by even the finance minister and the <keyword id="20151998" type="General" weightage="20" keywordseo="RBI-governor" source="keywords">RBI governor</keyword>. However, the report notes that on closer examination, the situation may not be as alarming as it seems. As of 9th August, 2024 the Indian <keyword id="19964544" type="General" weightage="20" keywordseo="banking-sector" source="keywords">banking sector</keyword>'s loan-to-deposit (LD) ratio stood at 77.2 %, which is slightly below its recent peak of 78.2 % on 22nd March 2024, and its all-time high of 78.8 % in September 2013. The report stated that typically a rising LD ratio is indicative of a tightness in the banking sector, potentially indicating overheating. A lower LD indicates that the bank is aggressive in its credit disbursement practises, which could be risky. It highlighted that an analysis of the sector's transactions with the Reserve Bank of India (RBI) through the liquidity adjustment facility (LAF), along with recent trends in the weighted average call rate (WACR), suggests that the current rise in the LD ratio does not indicate tightness, which is why there is no immediate cause of concern. In fact, the report added that the concern over weak deposit growth may be overstated. Historical data show that bank deposits grew at an average rate of 9.5 % during the pre-COVID period (January 2015 to February 2020) and 10.4 % in the post-COVID period (March 2020 to August 2024). Earlier, Finance Minister Nirmala Sitharaman also urged state-run banks to enhance deposit mobilization through attractive offers and focusing on Tier-2 and Tier-3 cities. Loan-to-deposit ratio pegs the total deposits received by the bank against the loans it has offered. It helps in understanding how liquid the bank is. The loan-to-deposit ratio (LDR) is a financial metric that compares a bank's total loans to its total deposits. It's used to assess a bank's liquidity and credit risk, and to inform lending and deposit-taking decisions The report said while the exact measures are unclear, the deposit growth could potentially be increased by making other asset classes less attractive through taxation or interest rates, or by boosting fiscal spending to increase net credit to the government. In its forecast, the report noted that private banks will witness a moderation in their <keyword id="19998083" type="General" weightage="20" keywordseo="credit-growth" source="keywords">credit growth</keyword>, while public sector banks will maintain a healthy credit growth rate. "Our analysis suggests that deposit growth could be raised by either making other asset classes unattractive (through taxation and/or interest rate) or increasing the growth in net credit to the government by pushing fiscal spending higher" the report added. Alternatively, policymakers might consider curtailing loan growth to lower the LD ratio. However, this could slow deposit growth, particularly if corporate credit growth remains weak. Encouraging savers to shift investments from other assets to bank deposits could also be an option, but this carries risks of overreach and potential damage to economic confidence. Das had also flagged the excessive growth, or froth developing in the personal loan space. Notably, while credit growth in unsecured personal loans like credit cards continues to decline, it remains elevated at 23.3% as of June 2024. However, this is a significant reduction from 34.2% witnessed in November 2023. As fiscal spending increases, bank credit to the government is likely to grow, which should elevate deposits and broad money supply. The report said "However, the extent of foreign capital inflows and the RBI's policy for managing these inflows remain uncertain". Last month, RBI governor Shaktikanta Das had also addressed this issue in the 50th meeting of MPC (Monetary Policy Committee). Per him, deposit mobilisation has been lagging credit growth for some time now. This may potentially expose the system to structural liquidity issues. "While there could be a debate regarding ‘deposits funding loans’ vis-à-vis ‘loans funding deposits’, the current regulatory concern stems from the fact that there could be structural changes happening which banks need to recognise and, accordingly, devise their strategies. Households and consumers who traditionally leaned on banks for parking or investing their savings are increasingly turning to capital markets and other financial intermediaries", Das said. Per him, while bank deposits continue to remain dominant as a percentage of financial assets owned by households, their share has been declining consistently, since households are now increasingly allocating their savings to mutual funds, insurance funds, pension funds and other avenues.

Loan-to-deposit ratio will subside on its own in coming months, notes Motilal Oswal report

The restaurant industry is expected to <keyword id="22996156" type="General" weightage="20" keywordseo="turn-around" source="keywords">turn around</keyword> on the back of India's overall strong fundamentals after facing temporary headwinds such as high <keyword id="19999654" type="General" weightage="20" keywordseo="food-inflation" source="keywords">food inflation</keyword> and people <keyword id="19995898" type="General" weightage="20" keywordseo="dining-out" source="keywords">dining out</keyword> less that hurt the sector in the first quarter, according to <keyword id="22996436" type="General" weightage="20" keywordseo="Speciality-Restaurants-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Speciality Restaurants Ltd" meta.hostid="153" meta.entityid="Speciality Restaurants Ltd">Speciality Restaurants Ltd</keyword> <keyword id="22996437" type="General" weightage="20" keywordseo="CMD-Anjanmoy-Chatterjee" source="Orion">CMD Anjanmoy Chatterjee</keyword>. The company, which has a slew of brands such as Mainland China, Asia Kitchen by Mainland China, Episode One, Haka, and Sweet Bengal, among others and shut 29 outlets during the pandemic, is now focusing on <keyword id="20596119" type="General" weightage="20" keywordseo="profitable-growth" source="keywords">profitable growth</keyword> while expanding its footprint. "It should be clear that India not eating out or inflation not settling down is something which I don't believe in. India is better than many more countries...," Chatterjee told PTI. He was responding to a query on how long factors such as high food inflation and people dining out less after the diminishing of '<keyword id="22996157" type="General" weightage="20" keywordseo="revenge-eating" source="keywords">revenge eating</keyword>' post pandemic that affected the restaurant industry, will continue to impact the sector. "It is a short-term phenomenon. It will settle down once the food inflation comes down," he said, however, adding it would also depend on employment generation and the rise of <keyword id="22996435" type="General" weightage="20" keywordseo="disposable-incomes" source="keywords">disposable incomes</keyword>. "I'm very sure this will turn around," he asserted. As per government data, food inflation in July was 3.45 per cent, down from 10.87 per cent in June, mainly due to month-on-month decline in prices of vegetables, cereals, pulses and onion. Chatterjee, however, said in the first quarter of this fiscal for players in the sector from QSR and fine dining to casual dining, things have not been very good as 'revenge eating' had diminished, while food inflation coupled with competition from cheaper unorganised players also played a part. Asked about the company's expansion plans, he said,"We are looking at controlled, profitable growth, intentionally done with a geographical expansion of not cannibalising the existing stores." Flagship brand Mainland China, its variant Asia Kitchen by Mainland China will be the main growth drivers along with the new one, Episode One, he added. Last fiscal, he said the company opened four restaurants and similarly another three to four are expected subject to availability of space in time. In the first quarter ended June 30, <keyword id="19980909" type="General" weightage="20" keywordseo="speciality-restaurants" source="keywords">Speciality Restaurants</keyword> had reported total income of Rs 111.52 crore and PAT of Rs 7.64 crore.

You Searched For "space sector" and got 12 results

"A glorious moment for all Indians when Chandrayaan landed on moon" says President Murmu on National Space Day

ANI

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ANI

Budget 2024: How will budget affect India’s position in the global space race?

Ankush Banerjee

India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

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Profit of public sector banks expected to decline by 0.6 percent QoQ : Motilala Oswal

ANI

Why has Bernstein called India’s EV sector 'irrelevant'?

BI India Bureau

President Murmu voices concern over increasing space debris

PTI

Investing giants want to offer retail traders access to a booming sector of financial markets

Kelly Cloonan

These 2 sectors of the stock market are poised to benefit most if Trump wins in November, RBC says

Kelly Cloonan

Loan-to-deposit ratio will subside on its own in coming months, notes Motilal Oswal report

Ira Alok Puranik

Restaurant sector expected to turn around after tough Q1: Speciality Restaurants CMD

PTI

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