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Electric two-wheeler makers on Saturday termed as a phenomenal move by the government to increase subsidy for such vehicles by 50 per cent under the FAME II scheme saying it would be a game changer in the adoption of eco-friendly vehicles. The government on Friday made a partial modification of the scheme for Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II), including increasing the demand incentive for electric two-wheelers to Rs 15,000 per KWh from the earlier uniform subsidy of Rs 10,000 per KWh for all EVs, including plug in hybrids and strong hybrids except buses. ....
Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 382.84 points or 0.77% at 49,947.70. The Nifty 50 index was up 116.65 points or 0.78% at 15,022.70. The Nifty regained the psychological 15,000 mark in early trade. Upbeat Asian stocks boosted sentiment. The S&P BSE Mid-Cap index was up 0.8%. The S&P BSE Small-Cap index was up 0.79%. The market breadth, indicating the overall health of the market, is strong. On the BSE, 1789 shares rose and 477 shares fell. A total of 76 shares were unchanged. Stocks in news: HPCL jumped 5.16%. On a consolidated basis, HPCL reported a net profit to Rs 3,060.70 crore in Q4 FY21 compared with a net loss of Rs 27.63 crore in Q4 FY20. Net sales increased by 13.09% year-on-year (YoY) to Rs 74,605.76 crore during the quarter. ....