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The EV target is to convert 5% of the total fleet to EVs in the next six months. It will reach 50% in three years and 100% in five years. The scheme is applicable to cab aggregators, delivery service providers and e-commerce entities having more than 25 vehicles in their fleet. ....
FMCG companies such as HUL and Nestle may need to increase their advertising spending to drive volume and value growth. The anticipated volume growth for HUL and Nestle has been lower than expected due to moderate rural discretionary spending. However, analysts believe there will be a strong rural recovery in the second half of the year, which will benefit FMCG players. Valuations for HUL and Nestle are not cheap, so their stocks may experience corrections. ITC has reported reasonable numbers, with the cigarette volume growth being a key factor to watch. ....
Indian frontline indices closed in the red on Friday witnessing their third consecutive fall this week. The S&P BSE closed at 65,397, down 232 points or 0.35%. The broader Nifty50 closed at 19,543, losing 82 points or 0.42%. ....