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Hero MotoCorp Q2 profit increases 0.6%

Equitypandit_Hero_MotoCorp

Hero MotoCorp posted 0.62% rise in net profit at Rs.1,010.49 crore for the Q2 against Rs.1,004.22 crore in the same quarter previous year.

Total income for the company has been reported at Rs.8,479.59 crore in Q2 against Rs.8,601.10 crore in the same quarter last year.

It has also reported its highest ever quarterly sales 20,22,805 units during the Q2 against 18,23,498 units in the same period last year.

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INDIA

Rs 18,658 Crore Rail Network Boost to Strengthen Connectivity Across Three States

Dhruva Kulkarni

PM Modi-led panel approved Rs 18,658 crore for four rail multitracking projects, expanding the network by 1,247 km across Maharashtra, Odisha, and Chhattisgarh.

The projects include new lines for Sambalpur – Jarapda, Jharsuguda – Sason, Kharsia – Naya Raipur – Parmalkasa, and Gondia – Balharshah to improve mobility and reduce congestion.

These expansions will enhance passenger convenience and freight operations, particularly for coal, iron ore, and other key commodities.

Nineteen new stations will be built, benefiting 3,350 villages and 47.25 lakh people, with better connectivity to Aspirational Districts like Gadchiroli and Rajnandgaon.

The projects will drive industrial growth, improve supply chain efficiency, and create employment under the PM Gati Shakti National Master Plan.

With increased freight capacity, rail transport will help reduce oil imports by 95 crore litres and CO₂ emissions by 477 crore kg, supporting environmental sustainability.

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INDIA

PM Modi Arrives in Thailand for BIMSTEC Summit

Dhruva Kulkarni

Prime Minister Narendra Modi arrived in Thailand on 3rd April for a two-day visit to attend the sixth BIMSTEC summit.

He will meet Thai Prime Minister Paetongtarn Shinawatra for discussions during his stay. Upon his arrival in Bangkok, members of the Sikh community welcomed him with a Bhangra performance.

On Thursday evening, Modi will join BIMSTEC leaders from Thailand, Bangladesh, Sri Lanka, Nepal, Myanmar, and Bhutan to witness the signing of the Agreement on Maritime Cooperation.

The summit will also provide an opportunity for discussions with Nepal’s PM KP Sharma Oli, Bangladesh’s Chief Adviser Muhammad Yunus, and Myanmar’s military leader Min Aung Hlaing.

Following his engagements in Thailand, Modi will travel to Sri Lanka, marking his first visit since the country elected a new president. In a statement, he emphasised BIMSTEC’s role in advancing regional development, strengthening connectivity, and boosting economic progress in the Bay of Bengal region.

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INDIA

India Subsidises 10 Lakh+ Electric-2-Wheelers in FY25 as Sales Jump 21%

Dhruva Kulkarni

India subsidised over 10 lakh electric two-wheelers in FY25 under the PM E-DRIVE scheme, supporting EV sales and green mobility.

Electric two-wheeler sales rose 21% to 11.49 lakh units, while electric three-wheeler sales jumped 57% to 1.59 lakh units.

The PM E-DRIVE scheme, launched in September 2024, has a budget of Rs 10,900 crore and runs until March 2026, including EMPS 2024 sales.

The scheme has saved 8.56 lakh litres of fuel daily and reduced CO2 emissions by 12.48 lakh kg daily, cutting pollution and boosting energy security.

Over 18 OEMs have applied under the PLI Auto Scheme, supporting EV manufacturing and industry growth.

Government policies, technology, and sustainability goals drive India’s e-mobility push, aligning with the Net Zero target by 2070.

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INDIA

Bengaluru Residents Face Higher Waste Disposal Charges as BBMP Introduces Garbage Cess

Dhruva Kulkarni

Bengaluru residents will soon face higher costs for waste disposal as the BBMP introduces a “garbage cess,” alongside recent hikes in milk and electricity prices.

The cess, which will be added to property tax payments, is expected to raise about Rs 600 crore annually, with fees varying based on property size. Residential properties up to 600 sq. ft. will pay Rs 10 per month, while larger homes up to 4000 sq. ft. will pay Rs 400 monthly.

Commercial establishments, including hotels, will see a rise in fees, with hotels paying Rs 12 per kg of waste, up from Rs 5.

Opposition leaders from the BJP have criticised the Congress-led government for burdening citizens with new taxes. BJP leaders plan protests, including a march at Bengaluru’s Freedom Park and a ‘Jana Aakrosh Yatra’ from Mysuru.

Additionally, the Karnataka government has raised milk prices by Rs 4 per litre, effective 1st April, citing increased production costs.

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INDIA

PM Modi to Inaugurate Kashmir’s First Vande Bharat Train on 19th April

Dhruva Kulkarni

PM Modi will flag off Kashmir’s first Vande Bharat train from Katra on 19th April, completing the 272-km Udhampur-Srinagar-Baramulla rail link.

The Jammu-Katra-Srinagar Vande Bharat Express will start from Katra as Jammu station is renovating.

Officials confirmed the rail link project was completed in February, with successful trial runs on the Katra-Baramulla route.

The train will reduce travel time between Jammu and Srinagar, offering a modern and efficient service.

Union Minister Jitendra Singh stated that PM Modi will visit the world’s highest railway bridge before flagging off the train on 19th April.

The project began in 1997 and faced delays due to challenging terrain and weather conditions.

It includes 38 tunnels (the longest being 12.75 km) and 927 bridges, including the Chenab Bridge, which is taller than the Eiffel Tower and the highest arch railway bridge in the world.

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