Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: A special trading session was held on Saturday last week. All sectors ended the special trading session positively, with capital goods, PSUs, industrials, and media leading the way, while metals, PSU banks, pharma, and realty also saw decent gains.

BUSINESS

Attero Sets Ambitious Investment Plans in E-waste and Battery Recycling

What happened

Attero, a leading player in electronic waste (e-waste) and lithium-ion battery recycling, has unveiled ambitious investment plans. CEO and Co-Founder Nitin Gupta revealed that the company intends to inject over ₹ 8,000 crore into its operations over the next five years. This investment encompasses various capital forms like debt, equity, and other non-diluted forms.

Currently, Attero boasts a recycling capacity of up to 1,44,000 tonnes of e-waste and 15,000 tonnes of lithium-ion batteries annually. Gupta highlighted the company's impressive growth rate of 100% year-on-year, underlining its commitment to scale up operations significantly.

Why it matters

Attero's investment spree holds significant implications for the e-waste and battery recycling industry. With a target to cross $2 billion in revenue by 2027, the company is poised for substantial expansion. Gupta emphasized Attero's efficiency, citing a remarkable 98% extraction efficiency compared to global competitors hovering at less than 75%.

Furthermore, Attero's cost-effectiveness is striking, with a capex requirement of around $3,250 per tonne for extraction, considerably lower than the global average ranging from $5,500 to 10,000 per tonne. This cost efficiency positions Attero as a frontrunner in the market, with a current 25% market share set to surge to 35% next year, far outstripping competitors lagging below 10%.

Zoom out

As Attero charts an ambitious growth trajectory, its strategic investments in capacity expansion and technological efficiency are poised to reshape the e-waste and battery recycling landscape. With a keen eye on sustainability and market leadership, Attero's journey promises to be both lucrative and impactful, offering a compelling narrative of innovation and environmental responsibility in the ever-evolving tech industry.

BIG MONEY MOVES

Telecom giants deposit ₹4,350 crore for spectrum auction

Reliance Jio, Bharti Airtel, and Vodafone Idea have collectively submitted ₹4,350 crore as earnest money deposits for the upcoming spectrum auctions. Reliance Jio deposited ₹3,000 crore, while Bharti Airtel and Vodafone Idea contributed ₹1,050 crore and ₹300 crore, respectively. The government anticipates a modest auction valued at ₹96,317 crore across multiple frequency bands.

The auction, expected to be smaller than the 2022 bids generating ₹1.5 trillion, is significant as it  involves telecom companies bidding for rights to use specific radio frequencies for their networks,

Poonawalla Group to construct landmark commercial tower in Pune

The Poonawalla Group, led by Yohan Poonawalla, has announced plans to build a 100-meter tall commercial glass tower in Pune's Bund Garden area. Valued at ₹1,750 crore, this state-of-the-art project aims to attract top corporations and is set to be completed by 2026. Collaborating with Amar Builders and MOCO Design Studio, the tower will blend classic and contemporary designs, enhancing Pune's skyline.

This project is part of Poonawalla Group’s broader real estate ambitions, which include commercial, luxury residential, and mixed-use developments.

BUSINESS

Tata Motors Bets Big on JLR with ₹ 43,000 Crore Investment Plan 

What happened

Tata Motors Group has announced a significant increase in its investment outlay for the fiscal year 2025, ramping up to a whopping ₹43,000 crore. This surge in investment primarily benefits its British arm, Jaguar Land Rover (JLR). For fiscal 2024, Tata Motors initially planned a combined investment of ₹38,000 crore—3 billion pounds for JLR and ₹ 8,000 crore for Tata Motors.

However, they exceeded expectations, investing around ₹41,200 crore. For fiscal 2025, JLR's investment will rise to 3.5 billion pounds (approximately ₹ 35,000 crore), while Tata Motors will maintain its ₹ 8,000 crore investment.

Why it matters

This increased investment is a clear indicator of Tata Motors Group's commitment to innovation and growth. With JLR getting the lion's share of the funds, the focus is on new product launches and advanced technologies. 

Notably, JLR plans to introduce the Range Rover BEV (Battery Electric Vehicle) by fiscal 2026, marking a significant step towards electrification. CFO Richard Molyneux highlighted that this BEV will perfectly match the Range Rover's blend of power, quietness, and serenity, promising to enhance the brand's luxury appeal. Additionally, the Defender OCTA is set to launch later this year, keeping JLR's lineup fresh and competitive.

Zoom out

Tata Motors Group's hefty investment for FY25 underscores its strategic focus on innovation and staying ahead in the automotive market. With JLR leading the charge in electrification and new product development, the group is ready to strengthen its market position. While Tata Motors keeps a steady investment pace, JLR's 6% increase in funding highlights its pivotal role in driving future growth. 

BIG PICTURE

🥇 First Solar tops as the world's most valuable solar firm

First Solar Inc. has become the world's most valuable solar manufacturer, surpassing China's Sungrow Power Supply Co. for the first time since 2018. The Arizona-based company's market capitalization rose to $21.15 billion after a 1.5% increase in shares, while Sungrow's value fell to $20.85 billion following a 4.2% drop.

Chinese solar companies are facing a profit-slashing price war and trade barriers from Washington, with Longi Green Energy Technology Co. reporting a Q1 net loss of 2.35 billion yuan ($325 million). Meanwhile, First Solar benefits from high US tariffs on Chinese products and subsidies from the Inflation Reduction Act.

📈 Electral sales soar 26% amid record heat in April

India's pharmaceutical market rebounded in April with a 9% year-on-year growth, following a dip in March. The record-breaking heat, with temperatures consistently above 40 degrees, drove a 26% increase in sales of the oral electrolyte Electral. Electral's sales surged 28% month-on-month, reaching ₹72 crore and propelling it to fourth place in the market from twentieth in March.

Gastroenterology medicines Pan and Pan D saw sales rise by 19% and 17% respectively, while liver therapies Liv-52 and Udiliv increased by 17% and 28%. 

BUSINESS

Reliance Eyes Access to PSU ATF Pipelines for Market Expansion

What happened

Reliance Industries Ltd (RIL) is seeking access to the aviation turbine fuel (ATF) pipelines and storage facilities owned by public sector oil companies. Aiming to boost its market share, RIL wants to use the infrastructure built by the Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL). 

RIL, which produces about 25% of India’s ATF, currently supplies smaller volumes compared to these state-owned firms. The company has proposed these changes to the Petroleum and Natural Gas Regulatory Board (PNGRB) to promote competition and reduce fuel costs.

Why it matters

India's aviation sector is witnessing robust growth, with aviation turbine fuel (ATF) demand increasing by 11.8% in the fiscal year ending March 31, 2024. Out of the 17.12 million tonnes of ATF produced by public and private sector refineries, 8.2 million tonnes are consumed domestically, while the rest is exported.

At Delhi International Airport, India's largest aviation hub, Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) supply most of the 2.7 million kilolitres per annum jet fuel requirement. These companies dominate the supply chain due to their ownership of the pipelines and storage facilities outside the airport. 

Zoom out

RIL’s request is significant as it highlights the need for greater competition in the ATF market, which could lead to lower fuel prices. Given that ATF costs constitute about one-third of airline expenses, access to efficient pipeline systems is crucial. By using the existing infrastructure, RIL aims to reduce logistical costs and enhance supply efficiency.

This move could also benefit the broader aviation industry by potentially lowering air travel costs and improving fuel distribution to major airports like Delhi, Mumbai, Bengaluru, and Hyderabad.

MIRCH MASALA

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😆 Cannes red carpet stunner Aishwarya Rai Bachchan inspires viral memes
🫡 Swiggy delivery partner's act earns netizens' respect in viral video featuring Taapsee Pannu