New Delhi, June 3 (IANS) Mother Dairy, on Monday, increased milk prices across all variants due to rise in input cost.

The price hike is effective from Monday in Delhi-NCR and other markets.

Mother Dairy said: “A price hike of Rs 2 per litre applies to all milk variants.”

The price of token milk has increased to Rs 54 per litre from Rs 52 per litre.

The price of toned milk has increased to Rs 56 per litre from Rs 54 per litre.

The rate of cow milk has increased to Rs 58 per litre from Rs 56 per litre.

The price of buffalo milk has increased from Rs 70 per litre to Rs 72 per litre.

The rate of double-toned milk has increased to Rs 50 per litre from Rs 48 per litre.

The company further said that despite the high prices of procuring milk in the last few months, the prices for customers were kept stable. Heatwave has also affected milk production. In such a situation, keeping the interest of milk producers and customers on priority, the company has decided to increase the price by 3 to 4 per cent.

Earlier on Monday, Amul had increased the price of milk by Rs 2 per litre.

–IANS

avs/kvd

New Delhi, June 3 (IANS) Battery-swapping services provider Battery Smart on Monday announced its partnership with e-grocery and quick commerce service provider Zepto.

This partnership will provide Zepto’s Electric Vehicle (EV) delivery partners access to Battery Smart’s nationwide network of more than 1,000 battery-swapping stations, allowing two-minute battery swaps across over 30 cities.

It will also empower Zepto to add 10,000 new EVs to its fleet in FY 2024-25, the company said.

“Zepto’s growth over the past year has been remarkable, and now, with access to our growing network of swap stations, we look forward to seeing it scale even further by deploying more EVs to its fleet,” Yogiraj Gogia, Senior Director of Partnerships and Fleet Business, Battery Smart, said in a statement.

Through this partnership, both companies will facilitate a seamless transition to EVs for both existing and new delivery partners.

Partners can take advantage of the reduced capital expenditure involved in purchasing an EV without a battery and instead utilise Battery Smart’s Battery-as-a-service (BaaS) model, which will significantly enhance affordability and accessibility to electric mobility, the company said.

“Our association with Battery Smart gives us access to the country’s largest network of battery-swapping stations, ensuring our delivery partners are always in proximity to a swap station, with zero wait time,” said Vikas Sharma, COO, Zepto.

Battery Smart has set up stations in Tier 1, 2, and 3 cities across Haryana, Delhi-NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and most recently, Maharashtra.

–IANS

shs/rad

New Delhi, June 3 (IANS) Several users took to social media platform X on Monday to complain about a technical glitch they were facing while trading on the brokerage firm Zerodha’s trading app Kite.

The glitch comes on a day when the stock market surged to record levels, coinciding with exit polls projecting a third term for Prime Minister Narendra Modi in the recently-concluded Lok Sabha elections.

Voicing their frustration on social media, a user wrote, “Zerodha down. Very poor service when it matters the most”.

Another user said, “#Zerodha glitch, my funds are showing negative 83L. Almost gave me a heart attack this morning”.

“Zerodha’s consistency is truly disappointing. It seems to fail on all the important days,” one more user mentioned.

However, the brokerage firm responded to individual user complaints on X.

“This seems like an ISP-related issue. Please try using an alternate Internet connection and check. If the issue persists, please create a ticket at http://support.zerodha.com with ISP and location details so we can have this resolved at the earliest,” Zerodha said.

Both the Nifty 50 and the BSE Sensex soared to record highs.

The Nifty 50 climbed 2.89 per cent to 23,181.50 points, while the BSE Sensex gained 2.91 per cent to 76,110.93 points on Monday.

–IANS

shs/rad

New Delhi, June 3 (IANS) Riding on two big rallies on the Indian indices, the Adani Group has regained its total market capitalisation after it was hit by a short-seller report in late FY23.

The market capitalisation of 10 listed Portfolio companies surged by more than Rs 2 lakh crore to surpass Rs 18.5 lakh crore on Monday.

The stock of all Adani Group companies advanced on opening bell, with flagship Adani Enterprises gaining over 9 per cent as Adani Ports and Special Economic Zone rose 10 per cent to hit a lifetime high.

The shares of Adani Power, Adani Total Gas, Adani Wilmar and Adani Green Energy also went up.

Nirav Sheth, CEO of institutional equities at Emkay Global Financial Services Ltd, said that the execution (capacity) of the Adani Group has been mind-boggling.

“That (infrastructure sector) is where the entire thrust is going to be and where there is capacity to do large-scale construction,” he said.

On Friday, Adani Group companies’ stock surged 10 per cent.

The Supreme Court earlier this year gave a clean chit to the Adani Group and dismissed all allegations while reposing confidence in SEBI’s powers.

The apex court ruled that petitioners could not provide enough material to transfer the Adani-Hindenburg probe to a special investigation team.

Despite the setback from the short-seller report in late FY23, the Adani Group has emerged unfazed with its businesses showing solid resilience and turning the ‘setback’ into a comeback.

The group is back on an expansion spree and eyeing $90 billion capex over the next decade, according to a Jefferies report.

–IANS

na/dpb

Mumbai, June 3, (IANS) Indian equity benchmarks opened at an all-time high on Monday due to Exit Polls predicting a Modi government comeback.

Sensex opened almost 2600 points higher at 76,582 points and Nifty opened almost 800 points higher at 23,338 points.

At 9:50 a.m., Sensex was at 75,818, up 1,857 points or 2.51 per cent and Nifty was at 23,115, up 584 points or 2.59 per cent.

There is a positive trend in the market as 1,983 shares are trading up while 177 shares are trading in the red on NSE.

Midcap and smallcap shares are also trading higher on Monday. The Nifty Midcap 100 index is trading at 53,012 points, up 1,306 points or 2.53 per cent, and the Nifty Smallcap 100 index is trading at 17,050 points, up 366 points or 2.20 per cent.

All the market indices are trading in the green. Auto, PSU Bank, Fin Service, Metal, Realty, Energy, PSE and Infra indices were major gainers.

All 30 Sensex stocks are trading in the green.

Power Grid, NTPC, M&M, L&T, SBI, IndusInd Bank, UltraTech Cement, Axis Bank and Airtel are the top gainers.

Market experts said that Fundamentals, technicals and sentiments turning favourable at the same time are rare in the market. This is what has happened now.

“The market went into the big event, like elections. Nifty corrected around 600 points from the May highs. Profit booking also happened on a large scale. The short position in the market also is high,” they added.

–IANS

avs/uk