This article was written by

Mumbai: Banking credit to industry remained robust, increasing 19% year-on-year due to broad-based growth from both large and small companies. Personal loan growth also remained strong, expanding 16% YoY compared to 12% a year ago, the latest sectoral data for June showed.

In the personal loan segment, loans against gold jewellery, which include certain agriculture loans, remained the fastest-growing sector, surging 93% YoY, data published Friday by the Reserve Bank of India (RBI) showed. Vehicle loans with a 17% growth were the second-fastest in the personal loan segment. Credit card outstanding growth decelerated to 2% compared to 7% recorded a year ago.

Growth in education loans also remained strong at 13% versus 14% recorded a year ago.

This article was written by

Mumbai: The Securities and Exchange Board of India (Sebi) has disposed of legal proceedings against Religare Enterprises, its former chairperson Rashmi Saluja and five current and former directors, concluding that no further regulatory directions were warranted after the Burman Group‘s open offer was completed and control of the company changed hands.

The regulator on Friday disposed of the June 19, 2024 interim order-cum-show cause notice without imposing any fresh directions, holding that the remedial objective of the proceedings had already been achieved. Sebi had launched proceedings alleging that Religare and its board failed to cooperate with the mandatory open offer triggered after the Burman Group sought to raise its stake beyond the 25% threshold under the takeover rules.

The regulator alleged that the company violated its takeover code by delaying the process.

Sebi had alleged that REL repeatedly questioned the Burman Group’s ‘fit and proper’ status and refused to apply for approvals from the Reserve Bank of India, IRDAI and the market regulator despite being advised to do so.

The regulator had said the open offer could not progress because the RBI would accept the application only from the target company.

The interim order had directed Religare to facilitate the open offer, seek the necessary regulatory approvals and ensure the constitution of the committee of independent directors.
During the proceedings, several independent directors argued they had relied on representations made by Saluja, whom they alleged later misled them about the Burman Group. They maintained that they were not involved in the company’s day-to-day affairs and had acted on independent legal advice. Saluja, in her defence, contended that the obligation to obtain statutory approvals rested with the acquirers and that REL acted in good faith over governance and ‘fit and proper’ concerns.

New Delhi: Maruti Suzuki Friday missed D-Street estimates to report an 11% year-on-year decline in consolidated net profit in the June quarter, with input costs inflated by West Asia hostilities outweighing a robust increase in sales at India’s biggest carmaker.

Consolidated profit at Maruti fell to ₹3,352 crore, compared with ₹3,758 crore in the corresponding period of the last financial year. Bloomberg’s consensus earnings estimates for the June quarter were ₹3,440 crore.

The company said input costs increased during the quarter due to the crisis in West Asia, denting profitability despite strong growth in sales.

Also Read: Zee shareholders approve Rs 3,143 crore promoter fund infusion, ESOP plan
“Material costs had started to increase in the quarter and were seriously aggravated during the war,” Maruti Suzuki said in a statement.

Net sales in the period under review rose to ₹49,959 crore, climbing 36% from ₹36,620 crore recorded in the year-ago period.
Total expenses surged 41% to ₹49,988 crore. Unit sales climbed 29% in the first quarter to a record 682,724 cars over the same period of the previous year.Four CBG Projects
Sales for the company climbed across categories. Domestic small cars sales expanded 34%, paced by demand for SUVs that sold 45% more. Exports, meanwhile, climbed 29%.

Domestic market share increased 2.3 percentage points to 41.2%.

“Higher sales were possible because the company commissioned its second plant in Kharkhoda,” Maruti said.

Despite increased sales, the network inventory level at the end of the quarter was about 13 days.

The company’s board also approved four compressed bio gas (CBG) projects in the first phase with a budget of ₹ 561 crore. The board would consider expansion of CBG manufacturing based on the experience of these projects, the company said.

Shares of Maruti Suzuki marginally climbed to ₹14,239.40 apiece on the BSE. The earnings were announced after trading ended in Mumbai.

This article was written by

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ING either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Electric vehicles are often viewed as a technology reserved for wealthy nations, but new analysis suggests this perception is rapidly becoming outdated. Research supported by the World Bank shows that EV adoption in developing countries is not only feasible — it is increasingly economically advantageous, especially for public transport systems and the millions who rely on two‑ and three‑wheelers for daily mobility.

A turning point for emerging economies

Transport already accounts for around 20% of global greenhouse gas emissions, and this share is rising fastest in developing cities as populations grow and mobility demand accelerates. Without a shift toward cleaner transport, these countries risk locking in decades of additional emissions at a time when climate pressures are intensifying.

The World Bank’s review of 20 developing countries finds that EVs — particularly buses and smaller vehicles — now offer a compelling economic case. Falling battery prices, lower operating costs, and the high mileage typical of public transport fleets make electrification increasingly attractive.

Where EVs deliver the biggest impact

Electric buses

Electric buses stand out as one of the most cost‑effective solutions for emerging markets. Their predictable routes, centralized charging, and heavy daily usage mean operators can quickly recover upfront investment through lower fuel and maintenance costs. For cities struggling with congestion and pollution, e‑buses offer immediate air‑quality benefits.

Two‑ and three‑wheelers

In many developing countries, motorcycles, scooters, and tuk‑tuks are the backbone of urban mobility. Electric versions of these vehicles are already price‑competitive, easier to maintain, and well‑suited for last‑mile transport and delivery services. Their rapid adoption could transform mobility for millions while reducing noise and air pollution.

Development benefits beyond emissions

The shift to EVs supports broader development goals:

• Cleaner air in megacities where pollution contributes to millions of premature deaths each year.
• Energy security, reducing dependence on volatile oil markets that disproportionately affect low‑income households.
• Improved mobility access, especially in remote or underserved areas where electric bikes and scooters can connect people to jobs, schools, and essential services.

Examples from around the world

Several countries are already demonstrating what EV adoption can look like at scale:

• Dakar, Senegal is rolling out electric bus rapid transit corridors to improve mobility and cut emissions.
• India plans to procure 50,000 electric buses over the next decade, one of the largest such initiatives globally.
• Bogotá, Colombia is piloting electric cargo bikes to support cleaner last‑mile delivery.
• Santiago, Chile already operates 800 electric buses, with 1,000 more on the way as part of its 2050 carbon‑neutrality strategy.

These examples show that EV adoption is not a distant aspiration — it is already happening across the developing world.

A practical path forward

The message is clear: electric vehicles are no longer a luxury reserved for advanced economies. For developing countries, they represent a practical, scalable, and economically sound solution to improve mobility, strengthen energy resilience, and reduce emissions. As costs continue to fall and technology improves, EVs — especially buses and two‑/three‑wheelers — are poised to play a central role in building cleaner, healthier, and more inclusive cities.

Other People are Reading