Cabinet Approves 3% Price Hike for Ethanol from C-Heavy Molasses

The cabinet has approved a 3% increase in the procurement price of ethanol produced from C-heavy molasses, raising it to Rs 57.9 per liter for the upcoming supply year. This decision is aimed at boosting the use of C-heavy molasses, a by-product with low sugar content, for ethanol production. By promoting the utilization of C-heavy molasses, which benefits farmers, the nation, and the environment, the government seeks to incentivize cost-effective ethanol sources. The increase in ethanol prices for C-heavy molasses is part of the government's strategy to prioritize the procurement of ethanol from the most efficient sources. Meanwhile, prices for ethanol from B-heavy molasses, sugarcane juice, and other feedstock will remain unchanged, ensuring minimal impact on procurement costs for oil marketing companies. The move to support C-heavy molasses for ethanol production is significant as it lacks sugar content, making it an eco-friendly option. This initiative is vital for advancing the sustainability of the ethanol industry, enhancing environmental benefits, and supporting farmers. Additionally, the government has allocated Rs 18,000 crore for the Critical Mineral Mission, further boosting investor confidence in the sector. This funding is expected to encourage sugar producers to expand ethanol production, creating new revenue opportunities for the industry in the upcoming year. Despite these positive developments, concerns have been raised about underutilized production capacity in the sugar industry, leading to unallocated ethanol supplies. To address this issue, the government aims to increase the ethanol blending target to 20% by 2025, up from the current 13%, which could drive further growth in the sector. The approval of higher ethanol procurement prices and the focus on sustainable ethanol sources signal a positive trend for the industry, benefiting stakeholders across the board.

Maruti Suzuki has unveiled the made-in-India 5-door version of the popular Jimny in Japan, marking a significant milestone in its export journey. The Jimny, exclusively manufactured in Gurugram, Haryana, is already exported to close to 100 countries. The introduction of the 5-door Jimny in Japan comes after the successful export of the Fronx to the same market, showcasing Maruti Suzuki's global manufacturing capabilities. The Jimny, with a heritage of over 50 years and more than 3.5 million units sold worldwide, features a K15B 1.5-litre petrol engine with a maximum output of 105PS and peak torque of 134Nm. It offers both manual and automatic transmission options and is equipped with ALLGRIP PRO 4WD technology for enhanced off-road performance. Maruti Suzuki's strong export performance includes shipping over 3.23 lakh vehicles to about 100 countries in CY 2024. The company plans to expand its export portfolio by introducing the Jimny, Fronx, and e-Vitara to the Japanese market. The brand aims to export over 3 lakh cars in FY25 and gradually increase annual exports to 7.5-8 lakh units by the end of the decade. In terms of safety features, the Maruti Suzuki Jimny comes with six airbags, ABS, EBD, stability control, hill hold control, and other advanced safety technologies. The SUV is available in a range of color options and is priced competitively in the Indian market. Maruti Suzuki's growth strategy includes introducing new SUV models to increase export volumes and regain market share. The company, which currently holds a 21% market share in the SUV segment, aims to expand its lineup and achieve a 50% market share. The Dzire model has notably contributed to the company's sales growth, with plans for further expansion in the SUV segment. Despite challenges such as inflationary pressures impacting pricing and profit margins, Maruti Suzuki remains optimistic about its growth trajectory. The company's successful export of the Jimny to Japan and plans for future expansions indicate a promising outlook for one of India's leading automotive manufacturers.

Mahindra is making waves in the electric vehicle market with its latest offerings, the BE 6 and XEV 9e. As per official RTO documents, the Pack Two variants of these vehicles will come equipped with a smaller 59 kWh battery pack, while only the high-end Pack Three models will offer both battery options, including a larger 79 kWh unit. The Mahindra BE 6 flaunts a bold design with striking features such as C-shaped LED DRLs, dual-pod LED headlights, and 19-inch alloy wheels which can be upgraded to 20-inch. Inside, it boasts dual 12.3-inch displays, a premium sound system, wireless phone chargers, and advanced safety features like autonomous emergency braking and lane keep assist. On the other hand, the XEV 9e has a simpler design with 19-inch alloy wheels and a dual-tone cabin theme. It offers a triple-screen setup on the dashboard and a slightly different feature set compared to the BE 6. While the prices of the mid-range Pack Two variants are yet to be unveiled, the BE 6 ranges between Rs 18.90 lakh to Rs 26.90 lakh, and the XEV 9e is priced from Rs 21.90 lakh to Rs 30.50 lakh. Mahindra has introduced a 'three for me' program in collaboration with Mahindra Finance to make the premium EVs more accessible. This initiative allows customers to opt for the top-spec Pack Three variants with a monthly EMI starting at ₹39,224, with a downpayment requirement and a balloon payment at the end of the tenure. Both vehicles are powered by the Mahindra INGLO architecture, offering two battery pack options and impressive performance figures. The BE 6e promises a fast-charging capability from 20% to 80% in just 20 minutes using a 175 kW DC fast charger. Its 79 kWh battery pack provides an impressive 682 km of range according to ARAI tests. With their advanced features, bold designs, and eco-friendly powertrains, the Mahindra BE 6 and XEV 9e are poised to make a significant impact in the Indian electric vehicle market.

Ola Electric is gearing up for the launch of its much-anticipated Gen 3 range of electric scooters, with the unveiling scheduled for tomorrow. This new generation is expected to be a significant advancement over the current models, boasting enhanced efficiency, technology, and reduced weight. The company has integrated the motor, battery, and electronics into a single unit in the new scooters, leading to a refined battery structure. Notably, Ola has streamlined the processor setup, moving from multiple processors in previous generations to just one processor for the Gen 3 platform. This simplification will reduce wiring complexity and enhance overall performance. While maintaining some features from the current models, the Gen 3 scooters will also feature an upgraded TFT screen with updated software. Although advanced driver-assistance systems were hinted at, they will not be introduced immediately. The Gen 3 lineup will offer a range of models, with the most affordable being the S1 X 2kWh priced at Rs. 79,999 and the range-topping S1 Pro priced at Rs. 1.59 lakh (ex-showroom). The 4kWh and 3kWh variants will be priced at Rs. 1.5 lakh and Rs. 1.29 lakh, respectively. The launch of the Gen 3 scooters is highly anticipated by electric scooter enthusiasts, eager to experience the next level of innovation and performance in the electric two-wheeler segment.

Ellenbarrie Industrial Gases Limited has received approval from SEBI to launch its IPO, offering a mix of fresh issues and shares for sale. The company, a major supplier of industrial gases, serves clients across various industries nationally. The IPO aims to raise funds to repay outstanding debts and establish a new air separation unit at its Uluberia-II plant. In a similar development, Varindera Constructions and Sambhv Steel Tubes have also received SEBI's green light for IPOs. Varindera Constructions plans to utilize funds for equipment acquisition, working capital needs, debt repayment, and general corporate purposes. On the other hand, Sambhv Steel Tubes intends to use the raised capital for debt settlement and general corporate activities. These upcoming IPOs indicate the growth and expansion plans of these companies within the industrial sector. With the increasing demand for their services and products, these offerings are attracting investors looking to capitalize on the potential growth opportunities in the market.

India's steel industry is facing challenges as imports from countries like China and Vietnam surge, impacting the domestic market. The government is considering policy measures, including a proposed 25% safeguard duty on imports, to protect local producers. Despite strong domestic steel consumption in December 2024, rising imports and falling exports are concerning Indian steel companies. The Directorate General of Trade Remedies is investigating the issue, and the industry is seeking government support for capacity expansion plans. Chinese steel exports are on the rise, affecting global steel prices and squeezing margins for producers worldwide. The industry is advocating for safeguard measures to counter these imports. The Ministry of Steel is focused on promoting domestic steel production, including through the Production Linked Incentive scheme, investments in speciality steel, and green steel-making initiatives. The ministry aims to ensure fair competition, address trade concerns, and diversify export markets. Efforts are underway to balance supply and demand, protect against cheap imports, and support steel manufacturers in staying competitive. The ministry is also engaging with industry stakeholders to stabilize prices, encourage innovation, and enhance efficiency. Looking ahead, the ministry expects robust growth in steel demand driven by infrastructure and manufacturing expansion initiatives like 'Make in India' and 'Aatmanirbhar Bharat.' The National Steel Policy targets significant production capacity by 2030-31, and the ministry is committed to supporting the industry's long-term vision for self-reliance and sustainability.

Big Oil Set to Book Lowest Quarterly Profits in Three Years Amid escalating tensions regarding Russia’s oil exports and U.S. sanctions, Big Oil is facing the prospect of booking its lowest quarterly profits in three years. The U.S. Treasury’s crackdown on Russian crude exports has prompted Moscow to find ways to continue shipping sanctioned oil, including diverting shipments to India via sanctioned tankers. Despite efforts to align with U.S. Treasury guidelines, recent reports reveal that Russia has been sending sanctioned oil shipments to India beyond the specified deadline. This move not only challenges international sanctions but also puts pressure on India to balance its energy security needs with global expectations. The situation has elevated concerns among analysts who warn that Russia's maneuvers to circumvent sanctions could disrupt global oil markets. Russia's success in maintaining steady oil shipments and employing logistical tricks to transfer oil between ships near South Korea further complicates enforcement efforts. As India and Russia navigate this complex landscape, the global community closely watches the unfolding events. Russia's ability to adapt to sanctions and India's response will be crucial in determining the impact on oil markets and Russia’s economic stability. Big Oil faces a challenging period ahead as geopolitical tensions continue to influence the energy sector.