Electrical Sector

The Indian electronics and electrical industry should look at increasing exports to USD 100 billion over the next 5-7 years, Commerce and Industry Minister Piyush Goyal said on Monday. He said the export volume of electronic goods ranks second in the country against 167th in 2015. In January, the export volume of electronic goods was USD 3 billion. Look at increasing exports to "USD 100 billion in the next 5-7 years", he said at the 16th Edition of ELECRAMA, organised by the Indian Electrical And Electronics Manufacturer's Association (IEEMA) here. The minister also said India's electronic goods industry must work together towards more resilient supply chains, upgrade quality standards and provide high-quality goods and services to the world at competitive rates. He urged the participants to work together to bring competitive advantages to the manufacturing sector. The minister stressed that the industry has a responsibility to ensure that consumers are provided better deals. He

Atlanta Electricals Ltd, manufacturer of power, auto and inverter duty transformers, has filed preliminary papers with capital markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The Gujarat-based company's IPO is a combination of a fresh issue of equity shares worth Rs 400 crore and an offer for sale (OFS) of 38.1 lakh equity shares by a promoter and other selling shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday. The offer includes a reservation of equity shares for subscription by eligible employees. Besides, the company may consider raising Rs 80 crore in a pre-IPO placement round. If such placement is undertaken, the size of the fresh issue will be reduced. The company proposes to utilize the proceeds from the issue for payment of debt, supporting working capital requirements of the company and for general corporate purposes. According to a Crisil report, India's transformer market is driven by

Most of the stocks are now seen testing the 20-DMA; trade along this key moving average is likely to dictate the near-term trend for electric wire-related stocks; suggest charts.

Apart from hedging and price hikes, companies have also had to resort to stocking up on inventory

L&T Switchgear, the electrical and automation arm of L&T, which Schneider Electric acquired in 2020, is rebranded as Lauritz Knudsen

Moreover, the trend to hire apprentices has seen a growth in Tier II and Tier III non- metro cities as well

Strong debut follows huge response to IPO, which was oversubscribed nearly 70 times

The board is scheduled to meet on Monday, June 13, 2022, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing

Luminous Power aims to achieve a target of Rs 6,000 crore turnover in the next five years, helped by its solar and the home electrical businesses, said a top company official

Festive season, supply chain issues may have been contributing factors leading to higher inventory

IEEMA is the representative body for the industry

Players with a diversified portfolio such as Havells are better placed compared to pure AC players given near term uncertainties

B2B automation business has been on the block since the sale of CG's international power business materialised in March this year