RBI ask banks to ensure ATMs dispense Rs 100, Rs 200 notes
Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased manner.
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Hans India
10 minutes ago
- Hans India
Andhra Pradesh to develop India's largest ecosystem for green hydrogen
Amaravati: The Green Hydrogen Valley proposed by the government of Andhra Pradesh aspires to become India's green hydrogen capital by 2030, promoting the country's largest eco-system for production of green hydrogen and its derivatives in partnership with industry and academia. It also aims to accelerate domestic R and D and capacity building in green hydrogen technologies, including testing facilities. Chief Minister N. Chandrababu Naidu on Monday released Green Hydrogen Valley-Amaravati declaration The key targets under Green Hydrogen Valley include establishing Electrolyser manufacturing capacity of 2 GW by 2027 and 5 GW by 2029, 1.50 MMTPA Green Hydrogen production capacity by 2029, achieving cost reduction from Rs 460 per Kg to Rs 160-170 per Kg by 2029 and creation of transmission infrastructure (Green Energy Corridor) to evacuate 25 GW RE power by 2029. The declaration was finalised based on the deliberations at the Green Hydrogen Summit held last week here in association with the Government of Andhra Pradesh and NREDCAP. The summit focused on green hydrogen production, storage, and distribution; green hydrogen applications in industry, transport, and power generation; policy, standards, and capacity building for a sustainable hydrogen ecosystem. According to the declaration, by 2030 at least 60 per cent of all electrolyser components and storage solutions deployed in the state will be produced locally, reducing import dependency. At least three new production units for electrolyser and hydrogen storage manufacturing will be established, with a combined production capacity of at least 4-5 GW for electrolyser equipment. The Green Hydrogen Valley will establish skilling ecosystem, specialised research Hubs with dedicated green hydrogen research centres, create cross-disciplinary labs, encourage collaborations with premier institutes, promote Public-Private Partnership (PPP) models to fund breakthrough projects, incentivise joint ventures between local start-ups and global hydrogen tech firms and facilitate knowledge exchange forums, workshops, and annual innovation summits. The Green Hydrogen Valley will establish India's first Integrated Green Hydrogen Skilling Eco System in collaboration with reputed Universities and Institutions, to offer engineer upskilling and technician certifications – training 200 specialists in the first year and 2,000 annually by 2030. The declaration says that the Green Hydrogen Valley will spearhead the creation of a robust start-up ecosystem in the green hydrogen sector. To catalyse innovation, the state will support start-ups working across the entire green hydrogen value chain. To catalyse innovation, the state will allocate Rs 500 crore over five years to support at least 50 start-ups working across the entire green hydrogen value chain. To support the development of green hydrogen technologies, the Government of Andhra Pradesh will promote world-class Research and Development (R and D) centres and advanced testing facilities involving SRM University-AP as the state nodal agency, to carry out advanced research in green hydrogen technologies, including the testing facilities, with active support from the Nation's Mission. The declaration noted that Andhra Pradesh is richly endowed with solar and wind energy potential, complemented by pumped hydro storage capacity, creating favourable conditions for large-scale development of green hydrogen. The state's long coastline further strengthens its position by offering an ideal ecosystem for exporting green hydrogen and its derivatives to Southeast Asian countries. The state government established the first thematic centre under the World Economic Forum's Centre for the Fourth Industrial Revolution (C4IR) network in collaboration with WEF's Centre for Energy and Materials (CENMAT), which focuses on energy transition and green industries, driving innovation and sustainable growth in the region.
India.com
10 minutes ago
- India.com
Good news for Deepinder Goyal as Zomato's parent firm Eternal Q1 revenue jumps..., Blinkit loses...
Good news for Deepinder Goyal as Zomato's parent firm Eternal Q1 revenue jumps...., Blinkit loses.... Deepinder Goyal's Eternal Ltd, which runs online food delivery platform Zomato, reported a 90 percent year-on-year drop in Q1 consolidated profit or profit after tax (PAT) for financial year 2026 at Rs 25 crore compared to its last year's first quarter which was Rs 253 crore. On the contrary, the company's shares on the National Stock Exchange surged 7.5 percent as orders surged on its quick commerce arm Blinkit. The stock climbed to Rs 277 (highest since February 3) after the results. Previously known as Zomato, Eternal, had made a profit of Rs 253 crore last year. Revenue Surges For Zomato The company reported that Zomato's revenue from operations witnessed a 70.4 percent surge, year on year to Rs 7,167 crore in the first quarter. The company's last year revenue from operations was Rs 4,206 crore. The revenue from previous quarter was Rs 5,833 crore. Gurugram's company operating expenses rose to Rs 7,433 crore in the June quarter, a significant increase from Rs 4,203 crore in the same period last year and Rs 6,104 crore in the previous quarter. The Q1 quarter cash balance of Zomato is Rs 18,857 crore, relatively unchanged from Rs 18,824 crore in the previous quarter. Food Delivery Business Eternal's food delivery business's adjusted revenue increased to 17.7 percent YoY to Rs 2,457 crore in June Quarter. Last year the June revenue was Rs 2,256 crore. Despite a continuing decline in food delivery demand, quarterly revenue rose by 10 percent to Rs 2,409 crore. The company's gross order value (GOV) for the food delivery business rose 10 percent quarter-over-quarter, from Rs 9,778 crore in the fourth quarter of fiscal year 25 to Rs 10,769 crore in the June quarter. Year-over-year growth also occurred, increasing from Rs 9,264 crore in the first quarter of fiscal year 25. The average monthly food delivery customers rose to 22.9 million, up from 20.9 million last quarter and 20.3 million a year ago. Blinkit witnessed a loss in EBITDA On the other hand, Blinkit witnessed a loss in EBITDA of Rs 162 crore in the first quarter. up from Rs 3 crore a year ago due to rapid dark store expansion. However the loss was lower than the Rs 178 crore reported in the previous quarter. The revenue of the quick commerce company reported an increase of 155 percent YoY to Rs 2,400 crore, up from Rs 942 crore in Q1 FY25. The previous quarter revenue was Rs 1,709 crore. The GOV witnessed an increase for the June quarter to Rs 11,821 crore, compared to Rs 4,923 crore in Q1 FY25 and Rs 9,421 crore in the earlier quarter. Blinkit's average order value remained consistent at approx Rs 670 in the first quarter of FY26, showing little change from the previous quarter and a modest increase from the same period last year. The company witnessed a major YoY growth in its dark store network which has expanded from 639 to 1,544 locations. And a substantial increase in average monthly active users which have increased from 7.6 million to 16.9 million. Going out reported a revenue decrease The company's Going Out segment reported a 10 percent year-over-year revenue decrease in its first quarter. The revenue decreased to Rs 207 crore from Rs 229 crore in the previous quarter and Rs 95 crore in the same quarter last year. The segment's GOV witnessed a rise of Rs 2,370 crore, up from Rs 2,184 crore the prior quarter. Total revenue a year earlier was Rs 1,268 crore. Hyperpure witnessed a revenue increase Zomato's Hyperpure, its B2B food supply arm, experienced a year-over-year revenue increase of 89 percent in the fourth quarter, reaching Rs 2,295 crore compared to Rs 1,212 crore in the same quarter of the previous year. It shows an increase from the Rs 1,840 crore reported in the preceding quarter.
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Business Standard
10 minutes ago
- Business Standard
Tata Capital rights issue pricing pegs valuation at Rs 1.38 trillion
Tata Sons' 93% stake in Tata Capital is now valued at Rs 1.28 trillion, following the company's latest rights issue and a 31% increase in Tata Capital's valuation Dev Chatterjee Mumbai Listen to This Article Tata Sons, the holding company of the Tata group, participated in its financial services arm, Tata Capital's rights issue last week at ₹343 per share — a 22 per cent premium to the earlier rights issue price of ₹281 per share in March. This latest investment has raised IPO-bound Tata Capital's valuation by 31 per cent to ₹1.38 trillion, up from ₹1.05 trillion in March, according to company filings with the stock exchanges. Last week, Tata Capital allotted 51 crore equity shares of ₹10 each, aggregating ₹1,752 crore through the rights issue, the company said. With the rights issue, the
