Sensex Trades Marginally Lower, Dow Futures Up By 11 Points

The combined capabilities of the two partners will create business synergies and strengthen the foothold in the country, he added.

"This contract manufacturing agreement with Varroc is a first for Delta-Q in India. The company has the capability and resources to support Delta-Q's manufacturing processes," Delta-Q Co-CEO and CFO Sarah MacKinnon noted.

Varroc Engineering is a global tier-1 automotive component group, incorporated in 1988.

It designs, manufactures, and supplies exterior lighting systems, plastic and polymer components, electricals-electronics components, and precision metallic components to passenger cars, commercial vehicles, two-wheelers, three-wheelers, and off-highway vehicle OEMs directly worldwide.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

Speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.

Here's what co-head of Research at Equitymaster, Tanushree Banerjee wrote about electric vehicles in one of her editions of Profit Hunter:

  • 106 public and private entities have approached the government for permission to set up about 7,000 EV charging stations.

    This clearly shows the vehicle manufacturers have enough incentive to capture this latent demand.

    The tax benefit in terms of a lower GST rate (at 5%) is a further shot in the arm of the EV industry.

As per Tanushree, electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

Tanushree believes one of the companies manufacturing lithium-ion batteries for powering electric cars will be a key catalyst for the Rebirth of India.

In January 2020, Tanushree recommended a high-quality stock from this space. Subscribers can read the report here.

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