Ola Electric Faces Scrutiny Over Sales- Registration Mismatch

Ola Electric is facing scrutiny over a gap between its reported sales and actual vehicle registrations. The company announced it had sold 25,000 electric scooters in February, but the government’s Vahan portal, which tracks vehicle registrations, recorded only 8,651 registrations by the end of the month. 

As of March 17, the number stood at 8,230, leaving a difference of over 16,000 unregistered scooters.

Regulatory Requirements and Potential Issues

Under the Motor Vehicles Act, vehicles must be registered with the state transport department within seven days of sale. The Central Motor Vehicles Rules, 1989, prohibit the delivery of vehicles without registration, either temporary or permanent. If Ola Electric has not followed these guidelines, it could face legal consequences, and customers operating unregistered vehicles may also be at risk.

Concerns Over Financial Reporting

Ola Electric’s draft red herring prospectus (DRHP), filed before its IPO, states that the company only recognizes revenue once a scooter is delivered and registered on the same day. However, industry sources suggest that the company may have reported bookings as sales, potentially influencing market perception.

SEBI and Investor Implications

The gap between sales and registrations has raised concerns about transparency. The Securities and Exchange Board of India (SEBI) and stock exchanges may require a clarification from Ola Electric. Failure to explain the discrepancy could result in penalties or further regulatory action.

Conclusion 

Ola Electric recently ended its contract with registration service providers Rosmerta Digital and Shimnit India and has taken registration processes in-house. Rosmerta Digital Services and Rosmerta Safety Systems have filed an insolvency petition against Ola Electric Technologies for ₹24.5 crore in unpaid dues.

Following reports of the sales-registration mismatch, Ola Electric’s stock dropped 7.18% on the BSE, closing at ₹46.91 yesterday. The company has yet to issue an official response.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

TCS and Air New Zealand Sign Five-Year Digital Transformation Deal

Tata Consultancy Services (TCS) has signed a five-year agreement with Air New Zealand to modernise the airline’s digital infrastructure. The partnership is to integrate artificial intelligence (AI) and cloud-based automation to improve operations and customer service. The financial details of the deal have not been disclosed.

As of March 20, 11:39 AM, Tata Consultancy Services Ltd (TCS) was trading at ₹3,568.45, up ₹71.35 (2.04%) today, but down 16.72% over the past six months and 10.13% over the past year.

Digital Infrastructure 

TCS will work on streamlining over 600 applications across various airline functions, including cargo services, disruption management, maintenance systems, and crew operations. The integration of AI-driven automation is expected to optimize these areas. As per the filing, the collaboration will help support improvements in Air New Zealand’s digital retail and loyalty programme.

Leadership Presence at Announcement

The agreement was formally signed at TCS’ Banyan Park Campus in Mumbai. The event was attended by New Zealand Prime Minister Christopher Luxon, Tata Group Chairman Natarajan Chandrasekaran, Air New Zealand CEO Greg Foran, and TCS CEO K Krithivasan.

As part of the partnership, TCS will lead upskilling programmes for Air New Zealand employees in AI, cybersecurity, and digital engineering. The aim is to upgrade digitally within the airline’s workforce to support the technology-driven changes being implemented.

TCS’ Presence in New Zealand

TCS has operated in New Zealand for over 37 years, providing digital solutions across multiple industries, including banking, retail, construction, manufacturing, and local government. It has an office in Auckland and a team of 460 professionals, serving more than 20 clients in the region.

Air New Zealand

Air New Zealand operates flights to 49 domestic and international destinations. The airline transports over 15 million passengers annually through more than 3,400 weekly flights. The partnership with TCS is to impact key areas such as fleet management, crew scheduling, and ground services.

Conclusion

TCS collaborates with New Zealand universities through its Co-Innovation Network (COIN) to support research in cybersecurity, sustainability, and AI. It was also involved in developing the Asia Pacific Digital Sustainability Index in 2022.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nippon India Mutual Fund Announces Scheme Merger Effective April 2025

Nippon India Mutual Fund has announced the merger of 2 fixed maturity schemes into an existing liquid fund. The changes will take effect from April 22, 2025.

Schemes Being Merged

The following schemes will be merged into Nippon India Liquid Fund:

After the merger, these schemes will cease to exist, and investors holding units in them will become unitholders of Nippon India Liquid Fund.

Exit Window for Investors

Unitholders who do not wish to continue with the new fund structure have the option to exit or switch their investments without any exit load. The exit window will be open from March 24, 2025, to April 22, 2025. After this period, the units will be transferred to the Nippon India Liquid Fund as part of the merger process.

Important Dates 

  • March 24, 2025 – April 22, 2025: Investors can exit or switch without an exit load.
  • April 22, 2025: The merger takes effect, and the 2 schemes will be absorbed into Nippon India Liquid Fund.

Impact on Investors

Once merged, all existing investors in the two interval series funds will have their holdings transferred to Nippon India Liquid Fund. This means their investments will be subject to the features and performance of the liquid fund instead of the original fixed maturity structure. Investors should review the scheme details before the merger date.

Conclusion

The fund house has issued official notices regarding this merger, outlining the details and informing investors about their options. Those looking for further clarification can refer to the official communication from Nippon India Mutual Fund.

Curious about your SBI SIP returns? Get accurate estimates of your investment growth using our SBI SIP Calculator and stay ahead of your financial goals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

ICICI Prudential and Mirae Asset Mutual Funds Announce Income Distribution

Mutual fund investors looking for periodic income distributions have fresh updates from ICICI Prudential Mutual Fund and Mirae Asset Mutual Fund. Both fund houses have declared income distribution under the Income Distribution cum Capital Withdrawal (IDCW) option across select schemes. The record date for these distributions is March 20, 2025.

Mirae Asset Mutual Fund

Mirae Asset Mutual Fund has announced income distribution across multiple categories, including ELSS, midcap, and large and midcap funds. The highest payout comes from the Mirae Asset Large & Midcap Direct-IDCW, offering ₹6.40 per unit, while its regular counterpart offers ₹3.70 per unit.

For investors in tax-saving schemes, Mirae Asset ELSS Tax Saver Direct-IDCW is distributing ₹2.30 per unit, and the regular plan will offer ₹1.95 per unit. Mirae Assets Midcap fund investors will see a payout of ₹2.00 per unit under the direct plan and ₹1.85 per unit under the regular plan.

ICICI Prudential Mutual Fund 

ICICI Prudential Mutual Fund has also announced income distribution under its IDCW option across three funds. The ICICI Pru Value Discovery Fund leads the list with ₹4 per unit for both direct and IDCW plans.

Meanwhile, the ICICI Pru India Opportunities Fund will distribute ₹2.20 per unit, and the ICICI Pru Manufacturing Fund will offer ₹2 per unit under both direct and IDCW options.

Conclusion 

  • Record Date: Only investors holding units as of March 20, 2025, will be eligible for these payouts.
  • Taxation Impact: IDCW payouts are subject to taxation as per an investor’s income tax slab.
  • Fund NAV Adjustment: Since IDCW distributions are paid from a fund’s Net Asset Value (NAV), the NAV will reduce post-distribution.

For investors seeking regular cash flows, IDCW options can be beneficial, but it’s crucial to assess their overall investment strategy.

Curious about your SBI SIP returns? Get accurate estimates of your investment growth using our SBI SIP Calculator and stay ahead of your financial goals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Edelweiss Bharat Bond FOF – April 2025 to Merge with Bharat Bond FOF – April 2030

Edelweiss Mutual Fund has announced that Bharat Bond FOF – April 2025 will merge into Bharat Bond FOF – April 2030, effective April 16, 2025. Following the merger, Bharat Bond FOF – April 2025 will no longer exist, and its investors will become unitholders of Bharat Bond FOF – April 2030.

Impact on Investors

As a result of this merger, unitholders of Bharat Bond FOF – April 2025 will automatically have their holdings transferred to Bharat Bond FOF – April 2030. This will extend the maturity period of their investment by five years, shifting the investment horizon from 2025 to 2030.

Exit Option Available

Investors who do not wish to continue with the new scheme have the option to exit. They can redeem or switch their units without any exit load during the exit window, which will be open from March 12, 2025, to April 11, 2025. After this period, the merger will proceed, and investments will be moved to the new fund.

Merger Details and Rationale

Bharat Bond FOFs invest in Bharat Bond ETFs, which track fixed-maturity PSU bond indices. The merger is part of a restructuring process, consolidating funds to manage investments more efficiently. Investors who remain in the scheme will now be part of a fund maturing in 2030 instead of 2025.

Conclusion 

  • March 12 – April 11, 2025: Exit window for investors
  • April 16, 2025: Merger takes effect

Unitholders who do not take any action before April 11, 2025, will automatically have their investments transferred to Bharat Bond FOF – April 2030.

Ready to watch your savings grow? Try our SIP Calculator today and unlock the potential of disciplined investing. Perfect for planning your financial future. Start now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

RBI Appoints Indranil Bhattacharyya as Executive Director, Effective March 19, 2025

The Reserve Bank of India (RBI) has announced the appointment of Indranil Bhattacharyya as Executive Director (ED), effective March 19, 2025. In this role, he will look after the Department of Economic and Policy Research (DEPR), which is responsible for economic research and policy formulation within the central bank.

Responsibilities as Executive Director

As Executive Director, Bhattacharyya will lead the Department of Economic and Policy Research at the RBI. His role includes overseeing research on economic trends, evaluating monetary and fiscal policies, and supporting policy decisions with data-driven insights. The department plays a central role in analysing macroeconomic developments and their impact on financial stability.

Professional Background

Bhattacharyya has been with the RBI for nearly 3 decades, working in areas such as monetary policy, fiscal policy, banking regulations, and international economic relations. His experience includes time in the Monetary Policy Department, the Department of Economic and Policy Research, and the International Department.

From 2009 to 2014, he worked as an Economic Expert in the Technical Office of the Governor at Qatar Central Bank, Doha. His role there involved providing economic insights and contributing to policy discussions.

Education and Research Interests

Bhattacharyya holds a postgraduate degree in Economics from Jawaharlal Nehru University (JNU), New Delhi. His research focuses on monetary theory and policy, financial markets, market microstructure, and fiscal policy.

Recent Executive Appointments at RBI

Earlier in the month, the RBI had appointed Ajit Ratnakar Joshi as Executive Director. Joshi was assigned to the Department of Statistics and Information Management and the Financial Stability Department.

Conclusion 

Bhattacharyya’s appointment comes as the RBI continues to focus on economic research and monetary policy amid changing global financial conditions. The DEPR’s role in assessing economic developments and providing policy recommendations remains crucial as the central bank monitors inflation, growth, and financial markets.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

NFO: ICICI Prudential Nifty EV & New Age Automotive ETF Opens for Subscription on Mar 21

ICICI Prudential Mutual Fund has announced the launch of the ICICI Prudential Nifty EV & New Age Automotive ETF, an open-ended exchange-traded fund (ETF) designed to track the performance of the Nifty EV & New Age Automotive Index. For investors who do not have a Demat account, the fund house is also introducing the ICICI Prudential Nifty EV & New Age Automotive ETF Fund of Funds (FOF), enabling wider participation in this emerging sector.

The ETF will be available for subscription from March 21, 2025, to April 2, 2025, while the FOF will be open for investment from March 28, 2025, to April 10, 2025.

Both schemes seek to offer exposure to India’s growing electric vehicle (EV) ecosystem and new-age automotive sector, encompassing electric 2-wheelers, 3-wheelers, passenger and commercial vehicles, battery manufacturers, component suppliers, raw material providers, and automotive technology companies.

Investment Focus and Benchmark

This new fund is designed to offer exposure to companies operating in the electric vehicle (EV) and new-age automotive ecosystem. The portfolio comprises electric two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, battery manufacturers, component suppliers, raw material providers, and automotive technology firms. The scheme follows the Nifty EV & New Age Automotive TRI as its benchmark index.

Minimum Investment Requirements:

  • ETF: ₹1,000 (plus in multiples of ₹1) during the NFO
  • FOF: ₹1,000 (plus in multiples of ₹1) during both the NFO and ongoing offer period

About the Nifty EV & New Age Automotive Index

The Nifty EV & New Age Automotive Index includes a selection of companies that are actively contributing to the EV transition in India. The top 10 stocks in the index represent a balanced mix of key players in EV manufacturing, hybrid automobile production, and advanced automotive technology.

Final Thoughts

The launch of the ICICI Prudential Nifty EV & New Age Automotive ETF and FOF provides an investment avenue for those looking to participate in the rapidly growing EV sector. While the fund offers diversified exposure to the new-age automotive industry, potential investors should carefully assess their risk appetite before making investment decisions.

Want to plan regular withdrawals? Our SWP Calculator helps you calculate how much you can withdraw while keeping your investments intact. Try it now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IREDA Issues First-Ever Perpetual Bonds Worth ₹1,247 Crore and Secures ₹24.48 Crore Tax Refund

The Indian Renewable Energy Development Agency Limited (IREDA) has made a significant financial move by launching its first-ever issuance of Perpetual Bonds worth ₹1,247 crore, offering an annual coupon rate of 8.40%. This initiative is aimed at optimising the company’s capital structure and reinforcing its financial position to support India’s expanding renewable energy sector.

Why Perpetual Bonds?

Perpetual bonds, often referred to as “perps”, have no maturity date, meaning they provide long-term capital without requiring repayment of the principal. This issuance will boost IREDA’s Tier-I capital, ensuring financial stability and an enhanced capacity to fund clean energy projects. The decision aligns with the organisation’s broader strategy to scale up green energy investments amid favourable market conditions.

Tax Refund of ₹24.48 Crore: Financial Relief for IREDA

In addition to its bond issuance, IREDA has received a tax refund of ₹24.48 crore from the Income Tax Department. The refund pertains to partial relief granted by the Commissioner of Income Tax (Appeals) for Assessment Year (AY) 2011-12, following disputes related to disallowances.

Furthermore, the company is anticipating an additional refund of approximately ₹195 crore for similar cases spanning Assessment Years 2010-11, 2012-13, 2013-14, and 2015-16 to 2018-19. The pending refunds, once received, will provide further financial flexibility to the organisation.

IREDA’s Vision for India’s Renewable Energy Sector

IREDA’s Chairman and Managing Director, Shri Pradip Kumar Das, described this move as a historic milestone. He said “This is a historic milestone for IREDA. We extend our gratitude to investors for their enthusiastic response. Strengthening our capital base through Perpetual Bonds will enable us to scale up financing for renewable energy projects, accelerating India’s transition to a cleaner and more sustainable future.” 

Conclusion

The issuance of perpetual bonds and the tax refund marks a pivotal moment for IREDA, ensuring long-term financial strength while reinforcing its commitment to green energy development. With capital optimisation and an expanding funding base, IREDA is poised to play a crucial role in India’s renewable energy transition.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Risk Management Insights from the Duckworth-Lewis Method

Cricket, where matches can be influenced by various factors like weather conditions, the Duckworth-Lewis method stands as a testament to effective risk management. Originally devised by statisticians Frank Duckworth and Tony Lewis, this method revolutionised the way cricket matches affected by rain interruptions are decided, ensuring fairness and accuracy in determining the outcome.

While its application is specific to cricket, the underlying principles of risk management inherent in the Duckworth-Lewis method offer valuable insights applicable to investment risk management. In this article, let’s look at a few.

Understanding the Duckworth-Lewis Method

At its core, the Duckworth-Lewis method seeks to adjust target scores based on the resources available to the batting team. In rain-affected matches, overs lost due to interruptions can significantly impact a team’s ability to chase or set a target. Therefore, the method employs a mathematical formula that takes into account the number of overs remaining, wickets lost, and the run rate at the time of interruption to determine a revised target.

1. Setting Targets and Goals

In cricket, teams set target scores to chase down within a specified number of overs. Similarly, investors set financial goals, such as achieving a certain rate of return or accumulating a target amount of wealth.

2. Unforeseen Interruptions

Rain interruptions in cricket disrupt the game plan, just as unexpected market volatility, events or economic downturns can disrupt investment strategies in the stock market.

3. Adaptation and Recalculation

The Duckworth-Lewis Method recalculates the target score based on the overs lost due to rain, ensuring fairness in the game. Likewise, investors must adapt and recalibrate their investment strategies in response to market situations to stay on track towards their financial goals.

4. Optimising Resources

Cricket teams aim to maximise runs within the remaining overs, while investors aim to maximise returns or minimise losses within the constraints of market conditions. Both endeavours require efficient allocation of resources to achieve desired outcomes.

5. Risk Management

Both cricket teams and investors engage in risk management. Teams assess the risk of losing wickets and falling short of the target, while investors evaluate the risk-return trade-off of various investment options to mitigate potential losses.

6. Staying Resilient

Just as cricket teams must maintain resilience and adaptability to overcome rain interruptions and still emerge victorious, investors must remain resilient in the face of market uncertainties and persevere towards their financial objectives.

Know Why Emergency Funds Are an Absolute Must Have?

Conclusion

By drawing parallels between the Duckworth-Lewis Method and investing in the stock market, we can appreciate the strategic mindset and adaptability required in both domains. 

Just as cricket teams strategise to navigate through rain interruptions and emerge victorious, investors must navigate through unexpected market volatility with a well-thought-out investment strategy to achieve their financial aspirations. 

As the associate sponsor of Tata IPL 2025, Angel One recognises the importance of resilience, strategy, and adaptability, both on the cricket field and in the world of finance.

 

Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.

Indore to Establish India’s First Green Waste Processing Plant Under PPP Model; IMC to Earn ₹3,000 per Tonne

Indore is taking a significant step towards sustainable waste management with the establishment of India’s first green waste processing plant under a Public-Private Partnership (PPP) model. This initiative, developed under the Swachh Bharat Mission-Urban, underscores the city’s commitment to environmental conservation and innovation in waste recycling.

Located on 55,000 square feet of land in Bicholi Hapsi, the facility is designed to recycle green waste efficiently, transforming discarded wood and branches into wooden pellets—a sustainable alternative to coal. This development marks a milestone in urban waste management, reinforcing Indore’s reputation as a leader in cleanliness and sustainability initiatives.

Financial Viability and Green Resource Generation

A key aspect of this initiative is its financial sustainability. The Indore Municipal Corporation (IMC) will receive a royalty of ₹3,000 (US$ 34.66) per tonne of waste supplied to the plant, ensuring a steady revenue stream while addressing environmental concerns.

Indore generates around 30 tonnes of green waste daily, which surges to 60-70 tonnes in autumn due to seasonal shedding. Institutional waste collection is also being integrated into the system, expanding the plant’s impact.

Innovative Waste Processing Techniques

The plant, which will be operated by Astronomical Industries Private Limited, employs a unique drying process that spans 3 to 4 months, reducing moisture content by 90%. This process converts waste into fine sawdust, which can be repurposed into multiple eco-friendly products, such as:

  • Biodegradable packaging
  • Furniture manufacturing
  • Fertilisers
  • Disposable plates (reducing plastic consumption)

Additionally, municipal gardens will utilise composting pits to process garden waste, further enhancing the city’s waste management efficiency.

A Step Towards Cleaner Energy and Air Quality Improvement

One of the standout features of the plant is the production of wooden pellets, which will be supplied to the National Thermal Power Corporation (NTPC) and other industries as a clean energy source. By replacing conventional fuels with biomass-based alternatives, the initiative is expected to contribute to better air quality and help control the Air Quality Index (AQI).

This aligns with the broader Garbage-Free Cities vision under the Swachh Bharat Mission-Urban, promoting environmental sustainability while also ensuring additional revenue generation for municipal authorities.

Conclusion: A Model for Other Cities

Indore’s green waste processing plant is a trailblazing effort in India’s urban waste management landscape. Its success could serve as a blueprint for other cities looking to adopt similar eco-friendly waste disposal and recycling mechanisms. By combining sustainability with financial viability, the initiative reflects how public-private collaboration can drive innovative environmental solutions.

With its forward-thinking approach, Indore continues to lead the way in clean energy adoption, waste reduction, and circular economy practices, reinforcing its status as one of India’s most environmentally conscious cities.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.