Karnataka CM unveils e-bike taxi scheme in Bengaluru

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Bengaluru, July 15 | Karnataka Chief Minister B.S. Yediyurappa on Wednesday unveiled the state electric bike taxi scheme in this tech city for last-mile connectivity to commuters using public transport.

“The novel scheme is aimed at reducing travel time and inconvenience faced by the commuters while travelling from home to bus stand, railway and Metro stations in the city,” Yediyurappa said on the occasion.

Noting that the scheme would create self-employment, the Chief Minister said that electric bikes are eco-friendly, conserve fuel and encourage commuters to use public transport.

“The state government has taken measures to encourage alternate source of energy like electric battery for vehicles and keep the environment clean across the city,” he said.

The scheme will enable increasing the use of battery-operated vehicles by citizens to travel shorter distances and help the partnership firms bridge the gap in the public transport system.

“The Central and state governments have given tax and permit exemptions and financial incentives to electric vehicle manufacturers,” said Yediyurappa.

The Chief Minister also called upon electric vehicle makers and entrepreneurs to invest in the scheme for creating jobs and protecting the environment.

Deputy Chief Minister Laxman Savadi, who also holds the transport portfolio, highlighted the key features of the scheme.

Source: IANS

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Share Market Closing Bell: Market ends marginally lower amid volatility

Share Market Closing Bell: Market ends marginally lower amid volatility

Dalal Street witnessed tug of war between bulls and bears as Sensex settled at 54208.53 losing 109 points or 0.20 percent and Nifty ended at 16240.30 with loss of 19 points. Bank nifty closed the session at 34163.70 levels with loss of 138 point after erasing early session gain.

BSE Midcap and BSE Small cap indices turned flat after rising around half a percent each. On the sectorial front, Nifty Pharma and FMCG have contributed a percent each on a closing basis. On the flip side Nifty Realty, Nifty PSE ended with losses of 1.75 percent and 1.73 respectively. In Nifty stocks, TATACONSUM, CIPLA and ADANI PORT were the top gainers while POWERGRID, BPCL and TECHM were the prime laggards.

In the daily chart Nifty has ended with a bearish candle. However 16200 levels are protected throughout the day. Index might face high volatility on weekly expiry day. Riding against the trend may not be beneficial for short term traders. According to volume profile 16100 and 16000 may act as immediate support.

Indicators such as MACD and RSI are still struggling to overcome from oversold zone in the daily time frame. From the time cycle prospect Index would remain highly volatile till 27th May of this month. Bollinger band indicates 16650 would remain strong resistance in coming days. On the other hand, Bank nifty has support at 33400 levels while resistance at 35000 levels.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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