Mumbai, July 30 (IANS) Indian equity indices closed flat on Tuesday amid volatile sessions.

During the day, the Sensex traded in the range of 81,230 to 81,815 points and Nifty traded between 23,798 to 24,971.

At the end of trading, the Sensex was up by 99 points at 81,455 and Nifty was up by 21 points at 24,857.

A buying trend was seen in midcap and smallcap shares.

The Nifty Midcap 100 index closed at 58,623, up 261 points or 0.45 per cent, and the Nifty Smallcap 100 index closed at 19,207, up 164 points or 0.86 per cent.

Market experts said, “Market focus will shift to the upcoming US Fed meeting, which is anticipated to provide a timeline for a potential rate cut in 2024, along with Q1 results from major domestic companies.”

Among the sectoral indices, “Auto, Fin Service, Metal, Realty, Energy and Infra were the major gainers. IT, Pharma and FMCG were major laggards.”

Shrey Jain, Founder and CEO of SAS Online said, “Today, the Sensex and Nifty benchmarks are trading higher following a flat start, driven by mixed global trends.

“The Nifty continues its solid near-term uptrend, facing resistance around the 25,000 level and support expected at 24,700.”

“In the short term, the market may experience some volatility or a slight decline before potentially trending upwards,” he added.

The rupee remained range-bound near 83.72 as the dollar held steady at $104.20. The rupee showed little reaction to dollar movements, with stable crude prices contributing to a flat trading session.

–IANS

avs/rad

New Delhi, July 30 (IANS) As the government doubles down on clean and sustainable transportation, the clean mobility ecosystem in the country is expected to become a $250 billion opportunity by FY30, growing at a compound annual growth rate (CAGR) of 38 per cent, a new report said on Tuesday.

By FY30, the overall mobility market in India is expected to reach $1.2 trillion, with clean and electric mobility accounting for about 20 per cent of the overall market, according to the report by Praxis Global Alliance.

“India’s journey towards electrifying its transportation sector is not just a leap towards a sustainable future but also a significant economic opportunity,” said Aryaman Tandon, Managing Partner, mobility, energy and transportation, Praxis Global Alliance.

India has an EV-to-charging station ratio of 9:1. To reach the globally acceptable standard ratio of 4:1, the government has taken multiple initiatives, including significant allocations in FAME II (over $120 million) and the reduction of GST rates on EV chargers.

“Despite challenges faced by the global EV market due to geopolitical shifts and fluctuating manufacturing costs, India remains a beacon of resilience,” the report mentioned.

The country’s strategic positioning, coupled with favourable domestic conditions and a robust policy framework, creates an environment conducive to rapid clean mobility adoption.

According to the findings, India’s emphasis on developing an integrated clean mobility ecosystem not only boosts EV adoption but also fosters innovation in supporting industries, such as charging infrastructure, battery technology, and sustainable supply chains.

“There is significant foreign direct investment (FDI) and private equity investment in this sector, which is a key growth driver,” it added.

By FY30, clean mobility product opportunities are projected to hit $94 billion, with overall penetration rising significantly to 23 per cent.

Mobility services opportunity in India is worth $450 billion in FY24, with more than 80 per cent of the opportunity lying in transportation and logistics services.

According to the report, the software solutions opportunity size is estimated at $0.37 billion in FY24, expected to grow at a CAGR of 27 per cent, reaching $1.58 billion by FY30.

–IANS

na/uk

New Delhi, July 30 (IANS) The government’s Open Network for Digital Commerce (ONDC) on Tuesday introduced an interoperable QR code that is set to transform the e-commerce landscape and empower every seller — from local artisans to neighbourhood shopkeepers.

Sellers have been limited by platform constraints, struggling to make their products visible to a wider audience.

The interoperable QR code, currently in its alpha phase, allows sellers to generate a unique QR code that customers can scan using an ONDC-registered buyer app, starting with magicpin and Paytm, and soon expanding across the entire network after initial testing.

“ONDC’s interoperable QR code breaks down the barriers that have held small businesses back. Now, every seller has the power to reach customers digitally, just like the e-commerce giants. It’s a massive leap towards an open, inclusive, and democratised digital marketplace,” said T Koshy, MD and CEO, ONDC.

With this, sellers can display their QR codes anywhere — on storefronts, products, marketing materials, or social media — instantly connecting with customers both offline and online, said the open network launched by the Department for Promotion of Industry and Internal Trade (DPIIT).

Last month, in a bid to empower micro, small and medium enterprises (MSMEs), the government announced an initiative to onboard five lakh MSMEs to the ONDC.

“Think of the local shopkeeper, the street vendor, the artisan — they can now be discovered and patronised by anyone, anywhere,” Koshy said.

“This isn’t just a new feature; it’s a catalyst for economic growth and digital inclusion. Millions of businesses will come online, creating new opportunities and driving India’s digital economy forward,” he added.

–IANS

na/rad

New Delhi, July 30 (IANS) Young scientists, who engage in interdisciplinary research in biomedicine, face significant career impediments compared to their peers who focus solely on their discipline.

A recent study published in the Proceedings of the National Academy of Sciences reveals that the research, led by Professor Bruce Weinberg from The Ohio State University, analysed data on 154,021 biomedical PhD graduates and over 2.6 million research papers.

The study found that young interdisciplinary researchers tend to stop publishing earlier in their careers, with half of the most interdisciplinary (top 1 per cent) ceasing publication by the eighth year, compared to over 20 years for moderately interdisciplinary researchers (10-75 per cent range).

“As an economist, you would think that the most interdisciplinary young researchers would get the most rewards because that is the type of research that is seen as most valuable. But that doesn’t appear to be the case,” said Weinberg.

The study highlighted the importance of integrating knowledge across various disciplines, including biology, physics, chemistry, computer science, engineering, and social science, to address complex biomedical challenges such as food sustainability, ageing, and disease treatment.

However, despite universities encouraging interdisciplinarity, long-standing academic structures focused on individual disciplines may hinder early-career researchers with broad interests.

Interestingly, the study noted that while young researchers initially decrease their interdisciplinary work over time, interdisciplinarity increases as researchers’ careers progress. This suggests that established scientists may have more freedom to explore diverse fields.

“We are missing an opportunity by not encouraging the bright young minds who are already interested in working with scientists in other fields to solve society’s most difficult problems,” Weinberg emphasised.

The study calls for academic institutions to reconsider how they support interdisciplinary research, particularly for emerging scientists.

–IANS

ts/svn

Mumbai, July 30 (IANS) Electric bus (e-bus) sales in India will rise by 75 to 80 per cent on a year-on-year basis due to policy push by government authorities, a report said on Tuesday.

Research firm Crisil Ratings said, “The supply of electric buses (e-buses) in India will surge 75-80 per cent to 6,000-6,500 this fiscal, spurred by increasing deployment via tenders awarded under various schemes for procurement by state transport undertakings (STUs) through the gross cost contract (GCC) model.”

These schemes include Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) (1 and 2), National Electric Bus Programme (NEBP) under Convergence Energy Service Ltd (CESL) (1 and 2), and PM-eBus Sewa Scheme.

The report further said that the government’s push to lower carbon emissions in public transport will drive e-bus adoption.

Gautam Shahi, Director, CRISIL Ratings, said, “E-bus adoption is truly in a sweet spot because the interests of STUs and bus operators are being taken care of under the GCC model, with optimal distribution of risk among stakeholders.”

According to the report, “The surge in e-bus orders will generate economies of scale in production and declining battery costs will lower the purchase price of an e-bus. The benefits of the potential decline in e-bus prices may be passed on to STUs by bus operators, in terms of rentals per km, thus further aiding adoption.”

Pallavi Singh, Associate Director, CRISIL Ratings, said, “Existing strong e-bus orderbook, along with the remaining orders of 7,800 buses to be awarded under the PM e-Bus Sewa Scheme 4 will give a fillip to the sector.

“The government is expected to further augment this scheme, which will continue to support growth of e-bus sales over this and next fiscal.”

–IANS

avs/rad