THE DELHI GOVERNMENT'S plan to make it mandatory for cab aggregators to have all-electric fleet in five years, and the surge in electric vehicles registration in Mumbai could pose daunting challenges to the dominant city-gas distribution companies in the two metros - IGL and Mahanagar Gas, respectively. However, the extent of the adverse impact on the two firms'top lines may differ owing to the difference in the EV targets set by the administrations of the two mega cities, analysts said.
These companies may need to expand piped-gas business at a faster rate to meet the overall growth targets, although a large part of it will depend on how fast the pipeline network is laid out, by the likes of GAIL India. While IGL sees 15% volume to take a hit as the EV penetration sets in, Mahanagar Gas still expects to maintain a growth of 5-6% in its volumes.
"We expect with the lesser addition of new CNG vehicles by aggregator going forward, the sales growth in this particular aggregator segment which is 15% of our volumes, will remain muted for next 3-5 years,"IGL said on Thursday.
Bu hikaye Financial Express Mumbai dergisinin November 03, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Financial Express Mumbai dergisinin November 03, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Murdoch ally helps Ambani build media empire in India
SOHEE KIM PR SANJAI
Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.
Nestle adds sugar to infant milk and cereal, finds report
A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.
India-made Daimler's electric mini truck to hit the road soon
INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Samsung eyes ₹10,000 cr from India TV biz this year
SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.
Microsoft AI Copilot speed boost for coding
WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.
US, China debt pose risks for global public finances: IMF
THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.
Language models in consumer tech
This move is designed to ensure better user experience & privacy
'Data centres' energy use doubles every four years'
Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.
Vi FPO: Foreign players invest big; about ₹5,400 crore raised
GQG, Fidelity buy almost 40% of the anchor investor portion
