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Economic Times
19 hours ago
- Business
- Economic Times
Fertiliser, Agrochem shares gain on Q1, monsoon boost
Mumbai: Shares of fertiliser and agrochemical companies were among the top gainers on Tuesday, as sentiment got a fillip after better-than-expected first-quarter results by some firms and strong monsoons. ADVERTISEMENT Paradeep Phosphates ended 8.6% higher to an all-time high of ₹216.3, after the company's profit after tax rose 4,655% from the same period a year ago. Mangalore Chemicals and Fertilisers rallied 9.5%. Other stocks like Deepak Fertilisers, Rallis India, Sumitomo Chemical, GSFC and Coromandel International were up 4-6% on Tuesday. "We've seen strong Q1 results from several companies in the agrochemicals and fertilisers space, including Coromandel International, Paradeep Phosphates, and Mangalore Chemicals & Fertilisers, driving stock gains on Tuesday," said Anita Gandhi, head of institutional broking at Arihant Capital. Gandhi said that a recent pickup in demand, following a post-Covid slowdown, along with supportive monsoon forecasts, which are expected to be 6% above normal, has improved sentiment. Shares of most of these companies have moved up strongly in recent months, with Mangalore Chemicals and Fertilisers, Sharda Cropchem, Paradeep Phosphates, Rallis and Coromandel International up 36-115% over the past six Biyani, vice president at Elara Securities, said he remains 'constructive' on phosphatic fertiliser makers from a longer-term perspective, particularly on Coromandel and Paradeep Phosphate. He said that companies like Coromandel and Paradeep represent strong import replacement plays."India imports around 8 million tonnes of phosphatic fertilisers, and domestic capacity expansions position these firms well to meet future demand," said Biyani. Elara has a price target of ₹2,737 for Coromandel International. (You can now subscribe to our ETMarkets WhatsApp channel)
Scroll.in
26-06-2025
- Automotive
- Scroll.in
Stuck in legal grey zone, can India's bike taxis navigate past roadblocks?
Bike taxis have halted services in Karnataka. The Karnataka High Court on April 2 ruled that bike taxis could not operate without guidelines framed by the state government under the Motor Vehicles Act, 1988. The court gave bike taxis till June 15 to wrap up operations. The abrupt halt could affect an estimated 75,000 to one lakh bike taxis operating in Bengaluru where services began in 2016. Stopping short of an outright ban, the court effectively passed the buck to the Karnataka government. But, so far, the government is not considering any regulatory framework to allow bike taxis, seemingly due to opposition from autorickshaw unions. On the other hand, Maharashtra might become the latest state to allow bike taxi operations. On May 30, Maharashtra notified draft regulations for electronic bike taxis. After public feedback, the rules are expected to be finalised by July. Bike taxis are a cheap way to commute, especially short distances in India's traffic-choked cities with inadequate public transport. Days after bike taxis stopped operations in Bangalore, traffic congestion increased by at least 20%, showed data put out by the TomTom Index that measures mobility. Yet, as the contrasting positions of Karnataka and Maharashtra show, the regulatory environment has been slow to catch up. Mobility experts and ride aggregators told Scroll that bike taxis complement, rather than cannibalise, public transport. Their role as feeder services and last-mile connectivity should be supported through government policies that factor in safety concerns, driver welfare and passenger needs. Quick transport The surge in bike taxi use is a result of their effective response to the realities of mobility in India's urban centres and the gig economy. Researcher Pravesh Biyani said that initially, it was difficult to ride pillion on bike taxis. 'But then, purely because it was so cheap, I took so many of them, especially for shorter distances,' said Biyani, who is a professor at the Delhi-based Indraprastha Institute of Information Technology's Centre of Excellence on Sustainable Mobility. Biyani, who founded the digital transit app Chartr, said bike taxis are much faster than other modes of transport. 'In an auto, you will get stuck in traffic but the bike driver will squiggle through,' he said. Commuters are increasingly relying on bike taxis. 'The public transportation system in most cities is broken,' said Girish Agrawal, a professor at the Transportation Research and Injury Prevention Center, Indian Institute of Technology Delhi. 'Even keeping and maintaining a private vehicle is not just expensive, it's painful.' Aggregators confirm the trend. 'Bike taxis have emerged as the 'choice of transport' as metros become more and more congested,' said Pratip Mazumder, India country manager at inDrive, a ride-hailing app. An Uber spokesperson told Scroll that autorickshaw and motorbike rides on the platform together exceed the volume of four-wheeler trips, though he did not specify for how long that has been the case. Where bike taxis win, hands down, is providing last-mile connectivity. Raghavan Viswanathan, Partner at KPMG India and co-author of the accounting firm's 2023 report ' Unlocking the Potential of Bike Taxis in India ', said, 'Most bike taxi trips start or end at public transport hubs – like metro, bus or train stations – helping bridge first- and last-mile gaps.' This addresses a key deficiency that several studies have found: that poor feeder networks limit the use of expensive metro systems and public transport. Simultaneously, bike taxis fuel the gig economy. Agrawal said that fresh graduates, who are often unable to get formal jobs and have few financial resources, find bike-taxi driving an accessible and flexible way to make a temporary living. KPMG estimates the sector could generate 5.4 million livelihoods by 2030, while Uber's latest impact report calculated that its autorickshaw and bike taxi services supported Rs 360 billion in economic activity in 2024 in India. Regulatory quagmire Despite their popularity, bike taxis operate under a cloud of legal uncertainty. This is primarily due to the Motor Vehicles Act, 1988, which was not designed for app-based aggregators or two-wheeler commercial transport. A 2004 notification by the Centre permitted the registration of some motorcycles as 'transport vehicles' for hire, with one pillion rider, but it did not provide a regulatory structure. Since road transport is a concurrent subject in the Constitution, which means it is subject to regulation by states and the Centre, there are no uniform regulations for bike taxis across India. 'Even though the Motor Vehicles Act says that the states can authorise bike taxis, very few states have done that,' Agrawal pointed out. This remains one of the main regulatory issues faced by bike taxis: the use of private or personal vehicles, which have white coloured number plates, for commercial purposes – a violation of state laws. Currently, a lot of states don't even give out commercial licenses to motorcycles. Autorickshaws and taxis use yellow numberplates. But mandating conversion to commercial yellow plates may be discouraging for bike taxis given the dual use of these vehicles as well as the arduous expense and effort involved. KPMG's surveys found that over 70% of bike taxi drivers ferry passengers for less than a year and more than 75% do not plan to continue beyond two years. 'Drivers use motorcycles already owned by them or their families,' said Raghavan. 'EVs or yellow plates limit their personal usage and flexibility.' Agrawal questioned the logic of commercial licences for bike taxis. It would force a permanent commercial status on a vehicle used temporarily for gig work and primarily for personal transport, he pointed out. The Union government has attempted to provide clarity and legitimacy to bike taxi operations. In January 2024, the ministry clarified that motorcycles can be granted commercial permits by states. Before that, the Motor Vehicles Amendment Act, 2019, laid down definitions for ride-hailing 'aggregators' and mandated state licences. In 2020, the Ministry of Road Transport and Highways had issued advisory aggregator guidelines covering licensing, safety and fares. But this has not translated into state-level action. Some, like Goa, Haryana, West Bengal and Rajasthan, have allowed bike taxis under existing transport rules or by framing new policies. But most states have not yet done so, resulting in the current inconsistent landscape of some states allowing bike taxi operations (with or without specific rules), some banning them, some favouring only electric bikes and others stuck in deliberation. Why are so many states reluctant to allow bike taxis? 'Resistance from the incumbent transport service providers who lose business to bike-taxis is among the chief reasons,' said Ravi Gadepalli, founder of Transit Intelligence, a public transport consulting firm. Autorickshaw and cab unions argue that bike taxis have an unfair advantage by not having to pay permit fees and commercial registration costs that they otherwise incur. But operating in a regulatory grey zone puts riders in precarious situations. After Delhi banned bike taxis in 2022, riders worked covertly – avoiding police, hiding navigation apps and telling passengers to feign personal relationships if stopped, as The Leaflet reported. Pragmatic regulation The resilience of bike taxi services clearly indicates a market need that bans cannot erase. The way forward lies in developing sensible, enabling regulations, said experts. 'We, as stakeholders, need to collectively accept that bike taxis are here to stay,' said Mazumdar. This acceptance must translate into a regulatory framework tailored for the gig economy. Instead of permanent yellow plates, flexible, rule-based identification is an option. 'The drivers wearing jackets lined with reflective colours' as a means to identify a bike taxi will have much higher acceptance,' said Raghavan, based on the findings of the KPMG report. Agrawal supported less intrusive methods. West Bengal's exploration of short-term, discreet authorisation – like QR codes could provide a template, he said. A reasonable, time-based annual permit fee – something drivers surveyed by KPMG expressed willingness to pay – could replace yellow plate conversion. Similarly, transitioning to electric two-wheelers is good for the environment but it must be phased pragmatically. 'An EV-only policy, at present, will create a huge entry barrier for drivers,' said Agrawal, given the cost and infrastructure limitations. There are also safety concerns. As Gadepalli noted, two-wheelers dominate India's road accident statistics. Agrawal pointed to the disconnect between low individual risk perception – 'nobody thinks they'll ever get caught or get in an accident', he said – and high societal risk. Ride aggregators implement checks such as helmet verification – Uber uses 'helmet selfies' – and have in-app safety features. Making platforms liable could lead to better enforcement of safety protocols such as high-quality helmets, mandatory training and background checks, said Biyani. These services should use technology to monitor speed and implement SOS features, Agrawal added. But ultimately, state governments must step up. 'The Karnataka High Court's decision is a call for proactive policy-making, not indefinite suspension,' said Biyani.
Time of India
15-06-2025
- Business
- Time of India
IIIT-Delhi's Chartr app eases bus commute in Delhi
Startups emerging from the academic institutions are increasingly shaping real-world solutions, with public transport in the national capital witnessing a notable example as a technology developed at the Indraprastha Institute of Information Technology Delhi (IIIT-Delhi) is now powering digital ticketing and live tracking for DTC and cluster buses, making daily commutes more efficient and commuter-friendly. In a rare and exemplary instance of academic research translating into real-world innovation, Chartr, a startup incubated at IIIT-Delhi, has successfully completed the full transfer of technology developed at the institute, said an official statement of IIIT-Delhi. The startup has commercialized products based on deep research and completed all formal licensing processes with the institute, a milestone that is among very few of its kind in the Indian higher education ecosystem. "We have built what is called as transport stack that can be taken to many cities in India. The stack contains tracking, journey planning, multimodal ticketing for public transit. The same has been deployed in Delhi in both cluster and DTC buses . This enables better services for the citizens," Dr Pravesh Biyani from IIIT-Delhi told PTI. Founded by Dr Biyani, Chartr builds on over seven years of rigorous research and development in the area of urban mobility and public systems optimization. Live Events Translating academic research into functioning products, navigating the challenges of deployment and building a startup that survives the early hurdles, all while maintaining integrity to licensing norms is rare, he added. Chartr has emerged as a pioneering force in public mobility solutions, offering real-time transit tracking, data-driven decision support tools and citizen engagement platforms, the statement said. Its systems are already live in multiple Indian cities, helping municipal bodies streamline bus operations, reduce commuter wait times and improve service reliability. IIIT-Delhi Director Prof Ranjan Bose said this is a "proud moment for us". "Chartr's journey exemplifies how academic research, when supported by forward-looking institutional policies, can make tangible impact. It sets a precedent and shows that Indian academic institutions can be fertile ground for world-class innovation ," he added. As Chartr moves into its next phase, scaling operations, ensuring recurring revenue and deepening customer relationships, the story serves as an inspiring model for future faculty-led startups, and a powerful validation of IIIT-Delhi's commitment to nurturing innovation with purpose.
India.com
11-06-2025
- Business
- India.com
Meet man who was once 'retail king' of India, lost everything due to one mistake, owner of Rs 152257647298 is now bankrupt, name is....
Kishore Biyani (File) Kishore Biyani, the founder of Big Bazaar– India's first retail store– and the Pantaloons clothing brand, was once called the 'retail king' of India as his chain of retail stores earned hefty profits, often registering daily earnings well in excess of Rs 30 crore or more. However, a single mistake toppled the retail empire built by Kishore Biyani, bankrupted him, and sent him to the deepest pits of obscurity. Let us delve into the shocking riches to rags story of Kishore Biyani: The birth and rise and fall of Pantaloons The story begins in 1983, when after finishing college, Kishore Biyani decided to start his own venture, instead of joining his father's business. In college, Biyani found that stone wash trousers were wildly popular among young men in those days, and fabric's demand was increasing in India at a rapid pace. Realising the demand, Biyani purchased 200 meters of the fabric from Jupiter Mill, and sold it to earn a hefty profit. However, soon Kishore Biyani stumbled upon the idea of manufacturing and trading fashionable stone wash trousers instead of selling the fabric to other manufacturers, thus establishing the Pantaloons brand. Pantaloons grew at a rapid pace, and soon opened its first retail showroom in Kolkata, where the brand launched women's and kids' clothing along with men's apparel. The store's light colors, lighting, and the overall look and feel, were designed to evoke a calming shopping experience, and soon Pantaloons made Kishore Biyani the undisputed king of fashion retail in the country. How Big Bazaar made Kishore Biyani India's 'retail king'? After tasting success in fashion retail with Pantaloons, Kishore Biyani set his sights on capturing the growing grocery market. Biyani observed that people only spend about 8 percent of their income on clothes, and decided to sell groceries, stationery, food items, and jewelry along with clothing. Biyani's unique plan was to make everything, from clothes to groceries and kitchen essentials, available to consumers under a single roof, and thus Big Bazaar, India's first retail store, was born. Big Bazaar was targeted towards the growing middle class, so instead of an expensive, posh-looking store, Biyani decided that his retail store would have the feel of a regular grocery shop, where the sales persons were dressed in regular clothes, instead of bow ties and suits. The name Big Bazaar resonated with the common man, and made enhanced its appeal, and soon the brand grew into a behemoth that minted over Rs 30 crore on a daily basis. Kishore Biyani wanted to compete with local grocery shops, so his strategy revolved around offering cheaper prices than traditional grocery stores. Beyond Big Bazaar, Biyani wanted to establish a place where consumers could shop for all types of goods under a single roof, and thus opened the Central Mall in Bengaluru in 2004. The 20000 square meters mall had everything from footwear to home decor, food, grocery, jewellery stores, food courts, restaurants, pubs, and movie theaters. Biyani's Future Group– the holding company which had all his brands like Big Bazaar, Central Mall, Easy Day, and Pantaloons, under its umbrella– had the largest share in India's retail sector, and made Biyani the 'retail king' of India. The fall of Kishore Biyani After conquering the retail industry, Kishore Biyani desired to venture into every business which directly dealt with the consumer, but this proved to be downfall because his unplanned expansion resulted in mounting debt which ultimately swelled to over Rs 12000 crore. Soon, Biyani was forced to sell the Central Mall for Rs 476 crore, and while Big Bazaar kept going for year despite large debts, its sales crashed, and so did Biyani's retail empire, during the 2008 recession. In March 2019, Biyani sold the Pantaloons brand to the Aditya Birla Group for Rs 1600 crore, while banks froze the assets and shares of Future Group after he failed to clear debts. Later, Kishore Biyani sold Big Bazaar to Reliance Retail– Indis's largest retailer run by billionaire Mukesh Ambani's daughter Isha Ambani. Reliance has now renamed Big Bazaar to Smart Bazaar. Kishor Biyani net worth At the peak of his business success, Kishore Biyani had net worth pegged at USD 1.78 billion in 2019, according to Forbes. However, after bankruptcy, his current wealth is believed to be a fraction of the fortune he once owned.
Time of India
25-05-2025
- Time of India
Barging into CA's car at jn, woman robs gold & cash
Mumbai: A chartered account from Andheri lost gold and cash after an unidentified woman forced her way into his car at a traffic signal, and vanished with the valuables. Madan Biyani (51) was driving home late evening on May 7 when he pulled over to halt at Sahar Star junction. As he shifted to parking mode, the car doors unlocked automatically. He was caught unawares when the woman forced her way into the vehicle, asking for a lift. He said he pointed out to her that the car had no seats as they been removed to refurbish the upholstery. "But she still got in and parked herself on the floor, right beside me," he said, adding that his bag which contained gold ornaments, a gold coin, Rs 50,000, a few tech gadgets and a memory card with important files had been placed there. Biyani said he told her that it was a "government vehicle" after which she made a hurried exit. It was only after he had got reached home that he realised that the bag, with the valuables, had disappeared from the floor. More than two weeks later, Biyani said that he has learnt from private investigation that an organised gang is at work at the spot, and that its members have targeted at least four motorists in a similar manner. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo While a criminal offence was recently registered at Vile Parle police station, Biyani alleged that the police have been lackadaisical in the probe. The police, however, refuted this, stating that they have collected footage from the area to locate the woman or the gang.
