Latest news with #Srivatsa
The Hindu
13-06-2025
- Politics
- The Hindu
BJP MLA opposes Cauvery Aarti
BJP MLA T.S. Srivatsa criticised the State government's decision to conduct Cauvery Aarti on the banks of Cauvery by spending ₹92 crore. Speaking to reporters in Mysuru on Friday, Mr. Srivatsa questioned the need for the event when the government had no funds to repair roads. 'MLAs were begging for as little as ₹1 or ₹2 crore financial aid from the government for developmental works in their constituencies. In Mysuru, there is a need for funds for underground drainage (UGD),' Mr. Srivatsa said. But the Congress government wanted to organise the event to show it was also working for Hindutva,' he said. The amount of money proposed to be spent by the government for the Cauvery Aarti did not seem to be in response to the aspirations of the people, he said, pointing out that the farmers of the region had expressed their opposition to the proposed programme. He advised the government that keeping the river banks clean itself amounted to performing Aarti. He opposed the proposed move by the Mysuru district administration to introduce fast-track darshan at the Chamundeshwari Temple atop Chamundi Hills by charging ₹2,000. Alleging that the State government was trying to collect money from all possible sources, Mr. Srivatsa said the government should instead introduce steps to ensure that all the devotees could have quick darshan. 'How will you manage the queue if a large number of devotees turn up for the fast-track darshan,' he asked, describing it as an unscientific move. Howeve, he welcomed the move to ban the practice of issuing VIP passes for darshan.
New Indian Express
11-06-2025
- General
- New Indian Express
IT belt citizens launch ‘Project Abhimanyu', to send junk art to BBMP chief over bad roads
BENGALURU: Frustared over bad roads, residents in the IT belt in Gunjur and surrounding areas are set to launch 'Project Abhimanyu', which involves gifting junk art using spare parts of scooters and cars to Bruhat Bengaluru Mahanagara Palike (BBMP) Chief Commissioner. Speaking about the symbolic protest over good roads that has remained elusive for the last several years in Varthur, Gunjur, Panathur, Thubarahalli, Balagere, S Cross Road, and other areas, Gobind Srivatsa from Prestige Lakeside Habitat Apartments said: 'The IT belt residents pay the highest tax but in return, the civic body has deprived us of basic infrastructure. Many office goers complain about their vehicles being damaged due to bad roads. This apart, travelling on bad roads is like risking lives.' 'The BBMP has violated my constitutional right to livelihood hence, the next step is to approach the high court against the BBMP,' said Srivatsa who is spearheading the project. He said the residents have to break the 'Chakrayuha' of bad roads, broken footpaths, clogged drains and others. 'The residents will only highlight failed infrastructure over the years and there is nothing political about it.' Expressing frustration on the bad civic infrastructure in Mahadevapura Zone, Anitha Janardhanan, another resident of Prestige Apartment in Varthur, said that due to potholes, her drive from home to the office on Brookefield has become a daily ordeal. 'My car windshield and suspension were damaged as I was unable to see the huge pothole during rains. As the front wheel landed in the crater, the windshield broke into pieces. My car suspension was also damaged in the process,' said Janardhanan. Meanwhile, the BBMP Chief Commissioner Maheshwar Rao as well as the Additional Chief Secretary and BBMP Administrator Tushar Giri Nath have directed the zonal officials to give attention to potholes and fix footpaths. The residents under the 'Balagere Connect' and other forums have collectively decided to raise the issue of bad infrastructure and corner Chief Commissioner and also Deputy Chief Minister DK Shivakumar during their zonal meeting and question them about their lack of commitment towards basic infrastructure.
Time of India
10-06-2025
- Automotive
- Time of India
Petrol's popularity runs out of gas in FY25 as CNG's market share more than triples in 5 years
Car buyers in India are increasingly opting for compressed natural gas (CNG)-powered vehicles amid high fuel prices and increased choices in a sluggish market. The share of CNG models in total passenger vehicle sales more than tripled in five years to 19.5per cent last fiscal—pulling ahead of diesel cars—from 6.3per cent in 2019-20. The share of petrol cars fell sharply to 57.7per cent from 76.3per cent during the same period, attesting this pronounced shift, while diesel car sales have remained largely constant at about 17-19per cent in this period, shows data from industry body Society of Indian Automobile Manufacturers (SIAM). And in the ongoing fiscal, for the first time, more than one million CNG cars, sedans and SUVs are expected to be sold—an increase of about 20per cent over 839,000 units sold in FY25. This while total car sales are expected to inch up by 1-2per cent in FY26, according to industry estimates. 'This is one category which has surprised everyone,' said Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility (TPEM) who also oversees Tata Motors ' PV (internal combustion engine) operations. Wide Range of Product Offerings 'It is growing in a robust manner, with availability improving,' according to TPEM's Srivatsa. The growth is largely driven by individual buyers even as the taxi segment accounts for about one-fifth of CNG car sales , as per industry estimates. Industry watchers attribute this to high prices of petrol and diesel fuel, increased network of CNG stations, and a wide range of product offerings from carmakers including Maruti Suzuki , Hyundai Motor, Tata Motors and Nissan. The number of vehicles with CNG variants more than doubled to 25 in FY25 from 11 in FY21, according to industry estimates. Union petroleum and natural gas minister Hardeep Singh Puri recently said the number of CNG retail outlets has increased 20 times in the last decade. The government is working on increasing the number of CNG dispensing stations across the country and is targeting having 17,500 CNG pumps in place by 2030, up from 7,400 in 2025. While the government is promoting electric vehicles (EVs) with various incentives to reduce carbon emissions and dependence on imported fossil fuels, car buyers mostly prefer CNG due to lower purchase compared to EVs, and an extensive network of CNG stations. While EVs boast lower running costs, CNG is considerably cheaper than petrol and diesel. A common drawback of CNG vehicles is reduced boot space due to the CNG cylinder. Carmakers like Tata Motors and Hyundai have come up with a twin cylinder solution for this. They have replaced the large CNG cylinder with two thin cylinders with equal capacity to offer more boot space. 'With the reducing life of diesel as mandated by NGT (National Green Tribunal), which is now gaining more traction in more states beyond Delhi-NCR, more and more customers are beginning to invest in other fuel options and preferences are changing fast,' said Saurabh Vatsa, managing director of Nissan Motor India. The Japanese carmaker last month started offering an alternate fuel option in the form of a government-approved CNG retrofitment kit . 'I think it's really important that we continue to focus on what is environmentally friendlier and easier to manage without denting the pocket of the consumer,' Vatsa said. Some of the popular CNG models in India include Maruti WagonR, Hyundai Exter and Tata Punch. 'Our CNG car sales in India reached over 600,000 units last year, and this year we hope to reach around 700,000 units,' R C Bhargava, chairman of Maruti Suzuki, said recently. CNG cars accounted for one in every three cars (34%) that the country's leading carmaker sold in FY25, when its sales touched 1.76 million units. 'CNG has emerged as a very good option for consumers at the entry-level, for all vehicles priced less than ₹11 lakh,' said Tarun Garg, chief operating officer (COO) of Hyundai Motor India.
Time of India
10-06-2025
- Automotive
- Time of India
Petrol's popularity runs out of gas in FY25 as CNG's market share more than triples in 5 years
Car buyers in India are increasingly opting for compressed natural gas (CNG)-powered vehicles amid high fuel prices and increased choices in a sluggish market. The share of CNG models in total passenger vehicle sales more than tripled in five years to 19.5per cent last fiscal—pulling ahead of diesel cars—from 6.3per cent in 2019-20. The share of petrol cars fell sharply to 57.7per cent from 76.3per cent during the same period, attesting this pronounced shift, while diesel car sales have remained largely constant at about 17-19per cent in this period, shows data from industry body Society of Indian Automobile Manufacturers (SIAM). And in the ongoing fiscal, for the first time, more than one million CNG cars, sedans and SUVs are expected to be sold—an increase of about 20per cent over 839,000 units sold in FY25. This while total car sales are expected to inch up by 1-2per cent in FY26, according to industry estimates. 'This is one category which has surprised everyone,' said Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility (TPEM) who also oversees Tata Motors ' PV (internal combustion engine) operations. Wide Range of Product Offerings 'It is growing in a robust manner, with availability improving,' according to TPEM's Srivatsa. The growth is largely driven by individual buyers even as the taxi segment accounts for about one-fifth of CNG car sales , as per industry estimates. Industry watchers attribute this to high prices of petrol and diesel fuel, increased network of CNG stations, and a wide range of product offerings from carmakers including Maruti Suzuki , Hyundai Motor, Tata Motors and Nissan. The number of vehicles with CNG variants more than doubled to 25 in FY25 from 11 in FY21, according to industry estimates. Union petroleum and natural gas minister Hardeep Singh Puri recently said the number of CNG retail outlets has increased 20 times in the last decade. The government is working on increasing the number of CNG dispensing stations across the country and is targeting having 17,500 CNG pumps in place by 2030, up from 7,400 in 2025. While the government is promoting electric vehicles (EVs) with various incentives to reduce carbon emissions and dependence on imported fossil fuels, car buyers mostly prefer CNG due to lower purchase compared to EVs, and an extensive network of CNG stations. While EVs boast lower running costs, CNG is considerably cheaper than petrol and diesel. A common drawback of CNG vehicles is reduced boot space due to the CNG cylinder. Carmakers like Tata Motors and Hyundai have come up with a twin cylinder solution for this. They have replaced the large CNG cylinder with two thin cylinders with equal capacity to offer more boot space. 'With the reducing life of diesel as mandated by NGT (National Green Tribunal), which is now gaining more traction in more states beyond Delhi-NCR, more and more customers are beginning to invest in other fuel options and preferences are changing fast,' said Saurabh Vatsa, managing director of Nissan Motor India. The Japanese carmaker last month started offering an alternate fuel option in the form of a government-approved CNG retrofitment kit . 'I think it's really important that we continue to focus on what is environmentally friendlier and easier to manage without denting the pocket of the consumer,' Vatsa said. Some of the popular CNG models in India include Maruti WagonR, Hyundai Exter and Tata Punch. 'Our CNG car sales in India reached over 600,000 units last year, and this year we hope to reach around 700,000 units,' R C Bhargava, chairman of Maruti Suzuki, said recently. CNG cars accounted for one in every three cars (34%) that the country's leading carmaker sold in FY25, when its sales touched 1.76 million units. 'CNG has emerged as a very good option for consumers at the entry-level, for all vehicles priced less than ₹11 lakh,' said Tarun Garg, chief operating officer (COO) of Hyundai Motor India.
Economic Times
06-06-2025
- Business
- Economic Times
ETMarkets Smart Talk - We're adding to domestic plays like autos, banks & telecom: V. Srivatsa, UTI MF
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel In this edition of ETMarkets Smart Talk, V. Srivatsa, Fund Manager – Equity at UTI Mutual Fund , shares his insights on navigating current market volatility sectoral strategies , and the macroeconomic forces shaping investor sentiment Amid global uncertainties like rising U.S. bond yields and tariff risks, Srivatsa reveals how UTI MF is shifting focus toward domestic-oriented sectors such as autos, banking, oil & gas, and also weighs in on IPO valuations, the outlook for interest rates, and where long-term investors can still find value in an increasingly selective market environment. Edited Excerpts –A) The US tariff is the biggest risk in markets today as this has the potential to alter the growth of the economy although we would be far less impacted than most other has been back and forth by the US government on tariffs, and we would wait for the final outcome to determine the impact for the Indian markets A) Traditionally a rise in the US bond yields has led to pressure in emerging market debt equity and currencies as money tends to flow to US in this case, we are seeing different scenario as investors are nervous on US treasuries and also there could be pressure on US treasuries with selling by key holders such as Japanese and Chinese central banks and we have seen USD depreciating against host of currencies in the last couple of months, especially Euro and swiss franc.A) We have reduced our exposures in sectors which are exposed to global volatility such as global autos and metals while we are running market weights on Information technology and healthcare which are trading at reasonable have increased exposures in domestic oriented names in autos, banking, oil and gas and telecom in the last couple of months.A) Nifty 50 has seen revenue growth of 7% and PAT growth of 8.5% which are above consensus sectors contributing to the growth were capital goods, retail, telecom and metals while growth was dragged by private banks, consumer sector and oil & gas.A) There has been softening of rates in the G Sec yields in the last one year led by strong rally in the bond market on expectations of rate cuts and inclusion of Indian bonds in global believe any further reduction in the rate cuts in India would largely be contingent on the US lowering rates as we cannot afford to have lower differential rates between India and US markets.A) Our general experience has been that most IPO's are at elevated valuations versus the comparables in the market with limited history of some of them are in new industries and emerging sectors where existing plays are not available, however higher valuations makes long term returns difficult.A) In terms of sectors, we see value in private sector banking, life insurance, telecom, chemicals and also see domestic oriented industries as a good theme and looking to increase exposures in auto, power utilities and consumer durables.A) The defence sector has seen massive rerating in the last three months with the Nifty defense sector returning 69% in the last three months led by expectations of strong bout of ordering by the government and export opportunities given the success of our arms in the valuations have gone up as the earnings expectations was already elevated three months back and most of the positives from the opportunities are factored in the prices.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
