Category: News

  • Exide Industries Invests ₹100 Crores in Energy Solutions – Key Insights

    Exide Industries Invests ₹100 Crores in Energy Solutions – Key Insights

    Exide Industries, a well-known battery maker, is making headlines this Wednesday because it put in a big investment of ₹100 crores (which is about $12 million) in its fully owned company, Exide Energy Solutions Ltd (EESL). They did this by buying 2.77 crore new shares (that’s 27.7 million shares) in a special offer.

    The company stated that on December 17, 2024, they invested ₹99,99,99,972 (which is almost ₹100 crores) to buy more shares in EESL, raising its total investment there to ₹3,152.24 crores (around $379 million). Even after this investment, Exide still owns 100% of EESL.

    EESL is busy setting up a new factory in Bengaluru to make lithium-ion battery parts. This factory will be paid for with the money from Exide’s new investment, and it will also help with other costs.

    In the latest updates, Exide Industries reported a decline of 13.66% in profits for the second quarter of the financial year 2025, making ₹233.4 crores (down from ₹270.32 crores last year). However, the company’s revenue went up to ₹4,450 crores compared to ₹4,371.52 crores in the same quarter last year. They mentioned that there is strong demand in the two-wheeler and four-wheeler markets, helping sales grow.

    (Disclaimer: The opinions and views expressed in this article are those of the experts and do not reflect the views of NiftyStat.)

  • Delhi’s Air Quality Crisis: AQI Exceeds 440, Stage 4 Restrictions Imposed

    Delhi’s Air Quality Crisis: AQI Exceeds 440, Stage 4 Restrictions Imposed

    On Wednesday morning, Delhi woke up to very bad air quality, with the Air Quality Index (AQI) hitting over 440, which is known as the ‘severe’ category. Some areas even reported AQI levels above 480, showing the air is extremely unhealthy. The pollution levels made officials enforce strict rules under the Graded Response Action Plan (GRAP), which aims to reduce pollution.

    Many places in Delhi had a really high AQI, including Nehru Nagar at 480, Anand Vihar at 481, and Alipur at 471. The AQI helps us understand air quality, where numbers from 0 to 50 are “good,” and anything above 450 is considered “severe plus.”

    Because of this bad air, authorities have put in place Stage 4 of GRAP, which means that construction activities are banned, and trucks carrying non-essential items cannot enter the city. Offices must have only half of their workers in the office, while others work from home.

    These actions are taken to help improve air quality, especially during the winter when pollution levels are often higher due to weather conditions and other sources, like cars, burning trash, and firecrackers. If this pollution continues, doctors warn that breathing the air in Delhi might be like smoking 10 cigarettes a day!

  • Congress Unites on Funding Plan to Prevent Government Shutdown!

    Congress Unites on Funding Plan to Prevent Government Shutdown!

    In Washington, D.C., top leaders from both the Republican and Democratic parties have come together to create a temporary plan. This plan will keep the government funded until March 14, helping to prevent a partial government shutdown that would start this Saturday.

    If approved, this plan will maintain the current budget of about $6.2 trillion, funding important services like the military, air traffic control, and drug safety programs. Congress members will now look over the details, but some strong Republicans in the House are already unhappy, which means some Democratic votes will probably be needed to make this plan law.

    The House, which is led by a very slim Republican majority of 219-211, hasn’t set a voting date yet. However, if they pass the plan, it will move to the Democratic-majority Senate by Friday night so President Joe Biden can sign it into law.

    The new plan also includes $100.4 billion to help states like North Carolina and Florida recover from serious disasters like hurricanes and wildfires. Here’s how the money will be spent:

    – $29 billion for disaster relief through FEMA
    – $21 billion to help farmers affected by weather problems
    – $10 billion in economic aid for farmers
    – $12 billion in grants for state and local communities
    – $8 billion for repairing roads and highways

    Additionally, the Pentagon will receive nearly $5.7 billion to help build new submarines, and about $740 million will go to repairing NASA facilities damaged by hurricanes.

    The plan also allows for year-round sales of a special gasoline with a higher ethanol blend and includes $13 million for protecting Supreme Court justices at their homes.

    If lawmakers do not act quickly, parts of the government could close on Saturday. Speaker Mike Johnson must rely on help from Democrats to pass this important measure.

    With growing government debt now over $36 trillion, Congress also has to address this issue early next year. They need to act before a previous agreement on the nation’s debt ceiling runs out, which could cause serious impacts on the economy.

    Lastly, this plan includes a one-year extension of federal farm programs so costs for dairy products don’t rise sharply after December 31.

  • Vanuatu Earthquake: 14 Dead, Rescue Efforts Intensify!

    Vanuatu Earthquake: 14 Dead, Rescue Efforts Intensify!

    On Wednesday, rescuers worked hard to find people trapped under rubble after a strong 7.4 magnitude earthquake hit the capital of Vanuatu, Port Vila. The quake, which happened on Tuesday, sadly killed 14 people and hurt over 200 others. Many buildings, including shops, embassies, and even a hospital, were also damaged.

    Vanuatu’s Police Commissioner, Robson Iavro, said rescuers focused on two buildings that fell down. Some people trapped inside were still able to talk to the police, and they believed there might be more people stuck. Videos on social media showed smashed vehicles and landslides blocking roads. People stood in long lines to get fuel and other necessities.

    Michael Thompson, an Australian who runs a zip line business there, helped dig people out of the rubble. He shared on Facebook that three people were pulled out alive, but one was seriously injured. Many showed great bravery while rescuing others.

    Power, water, and phone services were disrupted. To help with the flow of patients, tents for medical care were set up outside the hospital. The National Disaster Management Office reported that ten buildings were heavily damaged in the main area of Port Vila. Emergency doctor Basil Leodoro mentioned that two key buildings, Billabong House and a Chinese store, had collapsed, with rescuers trying to save anyone inside.

    There were also aftershocks during the night, one as strong as 6.1. Caroline Bird, who manages a resort, said there were many aftershocks making everyone anxious. Caretaker Prime Minister Charlot Salwai announced a state of emergency and a seven-day curfew in the worst-hit areas. The country has asked for international help.

    Australia’s Defence Minister Richard Marles said two military planes were being sent to Vanuatu with a medical team and a search and rescue team. Port Vila’s airport would also be closed for 72 hours for medical and emergency flights. The United Nations estimated around 116,000 people in Vanuatu, about one-third of the population, were affected by the earthquake.

  • Automotive Axles Shareholders Reject ₹2,500 Crore Deal with Meritor

    Automotive Axles Shareholders Reject ₹2,500 Crore Deal with Meritor

    Mumbai: Automotive Axles, an automotive parts maker, recently faced strong opposition from its shareholders. The company, which is a partnership between the Kalyani Group and Cummins, wanted approval for a deal worth ₹2,500 crores (about $300 million) with Meritor HVS India (MHVSIL) for the financial year 2026. However, a large majority of investors—79% of public institutions and 88% of individual investors—voted against this plan.

    Proxy advisory groups, which help investors make decisions, were against the deal. They believed all business should be done through the main company instead of a separate joint venture to benefit all shareholders. MHVSIL is a partnership between Meritor Heavy Vehicle Systems, a subsidiary of Cummins, and BF Investment, part of the Kalyani Group. MHVSIL plays a crucial role in selling Automotive Axles’ products both in India and abroad.

    A corporate governance firm called Institutional Investor Advisory Services India (IiAS) also opposed the deal, stating that there was no clear need to use a separate company for distribution. They suggested that the business should be conducted directly through Automotive Axles to ensure all shareholders receive profits. Although MHVSIL and Automotive Axles share the same partners, the Kalyani Group and Meritor have larger stakes in MHVSIL than they do in Automotive Axles.

    IiAS emphasized that the distribution network should work directly with Automotive Axles, allowing all shareholders to benefit from earnings. Automotive Axles’ shares have fallen 7.3% in the past three months, while the Nifty Auto index dropped 9.4%. The proposed deal included sales and purchases of goods, tools, and assets, as well as trading export licenses and other transactions.

    In defense of the agreement, Automotive Axles claimed that this partnership would help speed up the development of new products and improve their chances of gaining more business.

  • Travis Kelce’s Stunning $175K Birthday Gifts for Taylor Swift!

    Travis Kelce’s Stunning $175K Birthday Gifts for Taylor Swift!

    Taylor Swift celebrated her 35th birthday recently, and her boyfriend Travis Kelce made it very special with gifts worth $175,000! Although she didn’t throw a big party, it sounds like she still had a great time. On Friday night, Travis left the Kansas City Chiefs’ holiday party early to join Taylor for a private birthday celebration.

    Travis went all out for Taylor’s birthday, surprising her with lots of beautiful flowers and luxurious jewelry. Here’s a list of some amazing gifts he gave her:

    – 10 boxes of neon rose gold roses ($5,800)
    – 10 boxes of black and red roses ($8,800)
    – 15 boxes of red roses ($4,725)
    – A fancy rose gold Rolex watch ($60,350)
    – A special gold cuff bracelet from Tiffany & Co. with a heart engraving ($22,000)
    – An open-heart bracelet from Tiffany & Co. ($25,000)
    – A long necklace from Van Cleef & Arpels ($35,500)
    – An Alhambra pendant from Van Cleef & Arpels ($8,200)
    – Vintage Alhambra earrings from Van Cleef & Arpels ($4,150)

    Turning 35 is a big deal, and Travis wanted to make it truly memorable for Taylor. He planned these gifts to kick off their celebrations after a busy time with Taylor’s Eras Tour and his NFL season. Now, they have more free time to enjoy each other and celebrate Taylor’s special day!

  • Harris Encourages Laid-Off DNC Staff at Holiday Party

    Harris Encourages Laid-Off DNC Staff at Holiday Party

    Kamala Harris, the Vice President, spoke to DNC staff on Sunday in Washington, D.C., during a holiday party. This event was especially tough for many at the DNC because a number of them were recently let go without severance pay after the election.

    Harris said that even during tough times, their spirit and hard work should not be defeated. She encouraged everyone to focus on their blessings and be proud of the time and effort they put into their jobs. President Biden, standing by her side, assured the staff that they are not leaving and will continue to fight for what’s right.

    After the elections, many DNC workers were upset about being laid off. Usually, layoffs happen after elections in Washington, D.C., but this time, staff were angry about not receiving severance packages or any support when they lost their jobs. A union member expressed that it was unfair for DNC management to say layoffs were just part of the job.

    With DNC Chair Jaime Harrison not planning to run again, there will be a competition for a new leader. The 450 members of the national party committee will choose the next chair in February in Maryland. Possible candidates are Martin O’Malley, Ben Wikler, and Ken Martin.

  • Sebi Introduces Specialized Investment Fund for Risk-Taking Investors

    Sebi Introduces Specialized Investment Fund for Risk-Taking Investors

    The Securities and Exchange Board of India (Sebi), our market regulator, has just introduced a new investment option called the Specialized Investment Fund (SIF). This fund sits between portfolio management services (PMS) and mutual funds, making it easier for investors to choose their investment style.

    You can invest in SIF if you have at least Rs 10 lakh, but if you’re an accredited investor, there’s no minimum amount needed. The fund managers in charge of SIF will need to have specific certifications to ensure they know what they are doing.

    SIFs can use different ways to invest, like open-ended, close-ended, or interval strategies, and they should clearly explain how you can join or leave the fund in their offer documents. The fees for these investments will follow existing mutual fund rules.

    However, there are some rules about where SIFs can invest. They can’t put more than 20% of their total value into risky debt from a single company unless they get special permission. Investments in government securities or treasury bills are safe and don’t count towards these limits.

    Also, SIFs can own no more than 15% of any company’s voting shares. For example, if another mutual fund has 10% ownership in a company, a SIF can own a maximum of 5%. Furthermore, they cannot invest more than 10% of their total value in any one company’s stocks.

    SIFs are also allowed to buy Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) but with some limits. They can own no more than 20% of units issued by a single REIT or InvIT. This includes limits set for mutual fund schemes.

    Sebi created this new investment option for people who are willing to take higher risks with their money.

    (Disclaimer: The views and suggestions from experts are their own and do not reflect those of thellv.news)

  • Cyclone Chido Devastates Mayotte: India Offers Help as France Responds

    Cyclone Chido Devastates Mayotte: India Offers Help as France Responds

    On Tuesday, Indian Prime Minister Narendra Modi shared his sadness over the damage caused by Cyclone Chido in Mayotte, an island near Madagascar. He said India is ready to help. In a post on X, he expressed his thoughts and prayers for the victims and their families, and he is confident that France, under President Emmanuel Macron, will recover from this tragedy.

    Cyclone Chido has resulted in 22 deaths and injured over 1,400 people in Mayotte. The storm brought winds up to 200 km/h, causing destruction across the island. Many areas are still blocked, making it hard to know how many more people are missing.

    French Interior Minister Bruno Retailleau said Mayotte has been “completely devastated,” affecting 70% of the local people. He announced that an extra 400 paramilitary personnel will join 1,600 already there to help with rescue and recovery efforts.

    Starting Friday, France will enforce a nighttime curfew from 10:00 PM to 4:00 AM to prevent looting and stop diseases from spreading. Many people in Mayotte live in poverty and do not have safe homes.

    President Macron called the situation a “tragedy” and promised to visit Mayotte soon. French officials say they expect to restore half of the island’s water supply within 48 hours, and more food and water will arrive shortly.

    In nearby Mozambique, at least 34 people have died due to the cyclone, with over 300 injured from heavy rain. Cyclone Chido is the strongest to hit the region in over 90 years. Experts warn that warmer oceans are making cyclones stronger, which could lead to more disasters if global warming continues.

  • Sebi Uses AI to Speed Up Fund Approvals

    Sebi Uses AI to Speed Up Fund Approvals

    India’s capital market regulator, Sebi, is working on training a smart computer program called a large language model (LLM) to make its job easier and faster. This program will help Sebi speed up the time it takes to approve new money funds and investment schemes. Ananth Narayan G, a member of Sebi, shared this exciting news at an event hosted by the Confederation of Indian Industry.

    Large language models are advanced tools that can understand and generate human language. They learn from lots of text data, allowing them to do cool things like write, summarize, and translate. It’s pretty unique for a financial regulator in India to share these specific plans to develop a smart program like this.

    Currently, Sebi has improved its processes and can now approve applications for mutual fund schemes and initial public offerings in less than three months. They’re hoping to make this even faster, aiming for approval times of under one month! With the help of the new language model, Sebi believes it can achieve this goal more effectively. The training for this model is already in progress, and we can expect to see positive changes soon.