Rs 700cr project to put Knp on global EV mfg map
Officials concerned said the proposed EV park will strengthen local supply chain and promote indigenous manufacturing under 'Make in UP' and 'Made in UP' ecosystem.
"EV Park aims to position Kanpur as an EV manufacturing hub and boost the state's trillion-dollar economy goal. An integrated EV components cluster is also being developed to promote the small and medium enterprises," officials said, adding that EV Park will be symbol of industrial innovation, thus positioning Kanpur on global electric vehicle manufacturing map.
It will comprise manufacturing units for electric motors, chassis, steel parts and lithium-ion cells, apart from plants for assembling lithium-ion batteries, chargers, controllers and electronic components.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
13 minutes ago
- Mint
Dr Reddy's Laboratories among four key stocks to trade Ex-dividend today
Dividend Stocks: Dr Reddy's Laboratories, LMW Ltd., Wheels India Limited, and Diffusion Engineers Limited remain among four key stocks that will trade Ex-dividend today July 10, 2025, was decided as the record date for identifying the list of qualified shareholders to receive the dividends that these companies had announced. In order for their names to appear on the list of eligible shareholders to receive the dividends, investors who wanted to receive dividends from these firms had to buy shares using the T+1 settlement method at least one day before the record date. Dr. Reddy's Laboratories Limited—The company had recommended a final dividend of Rs. 8/- per equity share of Rs. 1/- each for the financial year 2024-25 LMW Limited— The company had recommended a dividend of Rs. 30 per equity share with a face value of Rs. 10 each for the fiscal year ending March 31, 2025. The same, however, is subject to shareholder approval at the subsequent Annual General Meeting. Wheels India Limited—The Board of Wheel India had recommended a final dividend of Rs. 7.03 (70.3%) per equity share of Rs. 10/- each for the fiscal year that concluded on March 31, 2025, provided that the members of the company approve it at the subsequent AGM. If members approve the dividend, it will be paid by August 15, 2025, at the latest, as per the company. July 10, 2025, is the record date for the final dividend payment. Diffusion Engineers Limited—The Board of Diffusion Engineers had recommended a final dividend of Rs. 1.50 (one rupee fifty paisa only) on the equity shares of the company having a face value of Rs. 10/- each for the financial year 2024-25. The same translates into a dividend of 15.00% per equity share and is subject to approval of the shareholders at the ensuing Annual General Meeting. The dividend, if approved by the members of the Company at the ensuing Annual General Meeting ('AGM'), will be paid within 30 days from the date of AGM, as per the company Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
22 minutes ago
- Hans India
SIP inflows hit all-time high of Rs 27,269 cr
New Delhi: Mutual fund systemic investment plan (SIP) inflows reached a record high of Rs 27,269 crore in the month of June, rising 2 per cent from Rs 26,688 crore in May, the Association of Mutual Funds in India (AMFI) data showed on Wednesday. This marks the first time SIP inflows have surpassed the Rs 27,000 crore mark.
Hans India
23 minutes ago
- Hans India
India's retail asset securitisation rises Rs 52,000 cr in Q1 FY26
New Delhi: The retail asset securitisation market in India has shown steady growth in the first quarter (Q1) of FY26, with a total transaction volume of Rs52,000 crore, a new report said on Wednesday. This includes both pass-through certificate (PTC) issuances and direct assignment (DA) transactions, according to CareEdge Ratings report. The volume represents a 6 per cent growth over the same period previous year. Despite this, the market's stability is a positive sign, driven by strong demand for credit, confidence from investors, and the strategic efforts of originators to diversify their funding sources. One of the most significant milestones in Q1 FY26 was the completion of India's first residential mortgage-backed securitisation (RMBS) deal, carried out by RMBS Development Company Limited (RDCL). This deal was also the first securitisation transaction to be executed on the Electronic Book Provider (EBP) platform, which marks a new chapter in India's securitisation market. This transaction could act as a catalyst for more investors to enter the RMBS sector, potentially boosting innovation and participation in mortgage-backed securities. The move is expected to create more long-term funding opportunities and allow for better risk transfer. Looking at the transaction composition in Q1 FY26, there has been a noticeable shift. PTC transactions now make up 56 per cent of the total volume, which marks a significant change from previous periods when direct assignment (DA) transactions were more dominant. The increase in PTCs likely reflects changing preferences among investors, regulatory factors, and a growing desire for more standardised and tradable financial products. This shift also suggests that originators are looking to attract a broader investor base. Among the PTC issuances, asset-backed securitisation (ABS) products were a major contributor, accounting for around 75 per cent of the total volume. Mortgage-backed securitisation (MBS), on the other hand, remained steady at 10 per cent. A key highlight in Q1 FY26 was the rise in PTC issuances from Microfinance Institutions (MFIs). MFIs contributed 15 per cent of the total PTC volumes, a significant increase from 8 per cent in Q1 FY25. This growth reflects greater stability in asset quality within the microfinance sector, and suggests that investor confidence in this space is on the rise. In the ABS category, vehicle loan financing continued to be a major player, contributing over Rs 14,600 crore, or 51 per cent of total PTC issuances in Q1 FY26.
