Author: Staff Writer

Categories
Beyond

Singapore launches $32 green fuel levy on airfares

Singapore will become the first country to introduce a “green fuel levy” on departing flights, aimed at promoting the use of sustainable aviation fuel (SAF).

The levy will apply from 1 October 2026 for tickets sold from 1 April 2026. Passengers could pay up to S$41.60 (about $32 or ₹3,690), with higher charges for long-haul and premium-class flights. Short-haul economy passengers will see a minimal increase of around S$1.

Transit passengers will not be charged, while cargo flights will face a separate per-kilogram levy.

The funds collected will be used to buy SAF, made from waste oils and crops, with a goal of reaching 3–5% of Singapore’s aviation fuel mix by 2030. Currently, SAF accounts for just 0.3% of global jet fuel.

Also Read: Novo Nordisk, Emcure launch weight‑loss drug in India

Categories
Corporate

Novo Nordisk, Emcure launch weight‑loss drug in India

Danish pharma company Novo Nordisk has partnered with India’s Emcure Pharmaceuticals to launch a new weight‑loss drug in the country. The medicine will be marketed under the brand name Poviztra.

Emcure will handle marketing and distribution in India, leveraging its network to reach more patients. The drug is a 2.4 mg semaglutide injection, similar to Novo Nordisk’s global weight‑loss brand Wegovy.

Poviztra is intended for adults with a BMI of 30 or higher, or a BMI of 27 and above with at least one weight‑related health condition, such as diabetes or high blood pressure. It is administered once a week using a pen device available in multiple doses, up to 2.4 mg. The drug also helps reduce the risk of serious heart problems in overweight adults with heart disease.

India’s weight‑loss drug market is growing fast. Eli Lilly’s Mounjaro, launched earlier this year, has already gained strong sales, showing rising demand for effective obesity treatments.

Satish Mehta, CEO of Emcure, expressed pride in introducing a widely recognized weight‑loss therapy to the Indian market, while Jay Thyagarajan, Novo Nordisk’s Asia‑Pacific VP, highlighted that the partnership aims to make obesity treatments more widely available across the country.

Obesity is a major health concern in India, affecting millions and contributing to over 230 related health problems, including heart disease, fatty liver, joint issues, and kidney disease. Experts say it is a long-term condition influenced by genetics, lifestyle, and environment.

Pricing and availability of Poviztra in India are yet to be announced.

Also Read: PhysicsWallah IPO opens at ₹103‑109, weak initial demand

Categories
Corporate

Adani Group enters battery storage with India’s largest project

The Adani Group has announced its entry into the Battery Energy Storage Systems (BESS) sector with a major project at Khavda, Gujarat. The new system will have a capacity of 1,126 MW and can store 3,530 MWh of power, making it India’s largest battery energy storage project and one of the biggest in the world. It is expected to be ready by March 2026.

The project will use more than 700 large battery containers to store solar energy, which can then be supplied when demand is high or sunlight is low. This will help keep the power supply steady, reduce pressure on the grid, and make better use of renewable energy.

Located at the world’s largest renewable energy park in Khavda, the system will use advanced lithium-ion batteries and smart energy management technology to improve efficiency and reliability.

Gautam Adani, Chairman of the Adani Group, said, “Energy storage is the cornerstone of a renewable-powered future. With this project, we aim to make clean, reliable, and affordable energy available at scale while supporting India’s goal of energy independence.”

After this project, the Group plans to add 15 GWh of battery storage by 2027 and reach 50 GWh within five years, a step toward building a strong and sustainable energy future for India.

Also Read: Goldman Sachs turns bullish on India

Categories
Corporate

Goldman Sachs turns bullish on India

Goldman Sachs has upgraded its view on Indian stocks from ‘neutral to overweight’, saying India’s growth story remains strong and that the Nifty 50 index could climb to 29,000 by the end of 2026 which is about 14% higher than current levels.

The global investment bank said India’s economy and corporate earnings are gaining momentum after years of slowdowns. It believes this trend will continue, supported by government reforms, lower interest rates, and healthy consumer demand.

According to Goldman, India’s policy environment is turning more supportive, with the Reserve Bank easing liquidity, tax reforms showing results, and fiscal discipline improving.

It also noted that domestic investors are driving the market, even as foreign investors have sold heavily this year. So far in 2025, foreign funds have pulled out nearly $17 billion, but local investors have pumped in around $70 billion, showing growing confidence in Indian companies.

Goldman Sachs expects the rally to be led by banks, consumer goods, automobiles, defence, and telecom stocks, while sectors like IT, pharma, and industrials may see slower growth.

The firm added that India’s stock valuations, though higher than other emerging markets, now look more reasonable given its growth prospects.

Also Read: Britannia CEO Varun Berry resigns after 13 years

Categories
Beyond

Gold ₹63,830, Silver ₹77,100, prices edge up

Gold prices in India rose slightly on Tuesday, with 24-carat gold trading at around ₹63,830 per 10 grams,  up by ₹10 from the previous day. Silver also saw a small uptick of ₹100, selling at ₹77,100 per kilogram.

The rise came as global investors turned cautious ahead of upcoming US inflation data, which could influence interest rate decisions by the Federal Reserve.

In Delhi, Mumbai, and other metro cities, gold prices stayed largely steady, reflecting a balanced demand from jewellers and retail buyers. Analysts say the market mood remains watchful, with traders keeping an eye on both global economic signals and festive-season buying trends in India.

Also Read: Sensex dips by 200 pts, Nifty below 25,550, Bajaj twins tumble 6%

Categories
Technology

Reliance Jio gives 18 months free Google Gemini Pro AI

Reliance Jio has teamed up with Google to give some 5G users 18 months of free access to Google’s Gemini Pro AI.

The free subscription includes smart AI tools like Gemini 2.5 Pro, Nano Banana, and Veo 3.1, plus 2 TB of cloud storage through Google One. The total value of this offer is about ₹35,100.

The offer is available to Jio customers on Unlimited 5G plans costing ₹349 or more. At first, it is mainly for users aged 18–25, but Jio will expand it to more people soon.

To get the free access, open the My Jio app, look for the Gemini Pro banner, tap “Claim Now”, and sign in with your Gmail account. The AI tools and storage will then appear in your Google One app, showing it is managed by Jio.

This offer works only for active Jio 5G users. If you downgrade your plan or switch numbers, you may lose access.

This deal gives users a chance to try advanced AI tools and get large cloud storage at no cost for 18 months, making it useful for work, learning, or personal projects.

Also Read: Nykaa shares jump 8% after strong Q2 earnings

Categories
Corporate

InCred eyes ₹3,000–4,000 crore IPO

Bengaluru-based InCred Holdings, a lender that has helped thousands of individuals and small businesses access loans, is preparing to enter the stock market. The company has filed confidential papers with the Securities and Exchange Board of India (SEBI), aiming to raise ₹3,000–4,000 crore through an IPO.

Since its inception in 2016, InCred Financial Services, the company’s lending arm, has disbursed over ₹25,000 crore to more than 4 lakh customers. It operates through 140+ branches and employs around 2,600 people.

The company has posted strong financial growth in FY 25. Its assets under management (AUM) rose 39% year-on-year to ₹12,585 crore, profit after tax increased 18% to ₹372 crore, and total income surged 50% to ₹1,255 crore. InCred also maintains solid fundamentals, with a capital adequacy ratio of around 26% and net non-performing assets of just 0.7%.

By choosing SEBI’s confidential pre-filing route, InCred can submit its draft documents without immediate public disclosure, giving it flexibility in timing the IPO. This approach has become popular among Indian companies planning to go public.

The funds raised from the IPO are expected to support InCred’s continued expansion in personal loans, MSME financing, education loans, secured business lending, and institutional lending. The move will help the company reach more customers and strengthen its foothold in India’s growing credit market.

Also Read: Nykaa shares jump 8% after strong Q2 earnings

Categories
Corporate

Nykaa shares jump 8% after strong Q2 earnings

Nykaa, India’s leading beauty and fashion e‑commerce platform, saw its shares climb 8% to ₹265.30 on Monday after reporting strong Q2 results. The surge lifted its market capitalization above ₹75,000 crore.

For the quarter ending September 30, 2025, Nykaa posted a net profit of ₹34.4 crore, up 243% from the same period last year. Revenue rose 25.1% year-on-year to ₹2,346 crore. EBITDA increased 52% to ₹158 crore, with margins expanding to 6.7%. The company’s Gross Merchandise Value (GMV) grew 30% to ₹4,744 crore, led by a 28% rise in beauty GMV, a revival in fashion, and a 54% increase in the “House of Nykaa” portfolio of owned brands.

Nykaa’s beauty segment continues to be the main growth driver, while a recovering fashion business provides additional upside. Investors will need to weigh the strong quarterly performance against high valuations and competition when deciding to buy, hold, or sell the stock.

Also Read: Lenskart lists at ₹390–₹395, below ₹402 IPO

Categories
Beyond

China eases export controls on auto chips

China’s Ministry of Commerce has announced that it is granting exemptions to its export controls on specific chips manufactured by Nexperia for civilian use. This is aimed at alleviating acute shortages in the automotive sector.

Nexperia, headquartered in the Netherlands but owned by Chinese company Wingtech, makes large volumes of simple but essential semiconductors used in vehicle electrical systems. The crisis began after the Dutch government took control of Nexperia on 30 September, citing economic‑security concerns that Wingtech would relocate production to mainland China. In response, China imposed export bans on finished chips made in China for foreign markets, triggering fears of shutdowns at car plants in Europe and Japan.

Beijing’s statement however does not specify exactly which chip types or uses qualify as “civilian use,” leaving some ambiguity for automakers and suppliers. According to industry reports, some German and Japanese companies say they have already received resumed deliveries of Nexperia chips from China under the new exemptions.

Despite the relief for automotive supply chains, the broader dispute between China, the Netherlands and the European Union over Nexperia’s ownership and operations remains unresolved. The Commerce Ministry has urged the EU to press the Netherlands to reverse its takeover of Nexperia.

Automakers and suppliers will now monitor how quickly and fully chip flows resume, and whether the exemption marks a stable shift or a temporary reprieve in what has become a high‑stakes tech and trade battleground.

Also Read: Lenskart lists at ₹390–₹395, below ₹402 IPO

Categories
Corporate

Sensex up 250 points, Nifty above 25,550 as markets rebound

Indian markets opened on a positive note on Monday, tracking gains across Asian peers. The Sensex jumped over 250 points, while the Nifty 50 climbed past 25,550 as investor sentiment improved following expectations of an early end to the U.S. government shutdown and optimism about corporate earnings momentum.

Infosys, HCL Technologies, and select banking stocks led the rally, helping lift the benchmarks after a volatile week of losses. Among broader market movers, HBL Engineering and Neuland Laboratories were top gainers in early trade, while Transformers and Rectifiers (India), Trent, and Nava saw declines.

Analysts said the rebound reflected improving global cues and renewed confidence in India’s growth outlook ahead of key inflation data and corporate results later this week.

Also Read: JSW Cement posts ₹75 Cr Q2 profit