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The growing issue of water scarcity in India represents an opportunity for companies positioned as “solution providers” said a report by J P Morgan“Those with a product or service that either improves water efficiency, alleviates water stress, improves the availability of water or removes the need for water from a process entirely.” the report said India has 18% of the world’s population but just 4% of freshwater resources. Following a period of drought, forecasts are for June to bring an above-normal 2024 monsoon. However, heavy reliance on seasonal rainfall makes the country particularly susceptible to climate change.Elaborating on its theme, J P Morgan cites companies with businesses exposed to the water theme. These include firms like Larsen and Toubro, Voltas, Thermax, KSB Ltd, Kirloskar Brothers among others which provide a product or service that either improves water efficiency, alleviates water stress, improves the availability of water, or removes the need for water from specific processes entirely.The report notes that pressure on agricultural water is also mounting. India is already the world’s largest user of groundwater for example, exceeding the use of the US and China combined. However, the UN estimates that 78% of wells in Punjab, which together with the state of Haryana produces 50% of the country’s rice supply and 85% of its wheat, are overexploited and that the north-west region as a whole will experience critically low groundwater availability by 2025India has the largest irrigated crop area in the world, with over 8m hectares of irrigated farmland. Innovation in irrigation such as drip irrigation has huge water saving potential, contributing to estimates for 10.9% CAGR in the Indian irrigation market between 2023-2028 as highlighted by the ministry of commerce and industry.In the power sector, 40% of India’s power plants are located in water-scarce areas. However, projections made by the World Resources Institute show that more than two-thirds of India’s power plants will face high water stress by the end of the decade.Water challenges in the power sector have already had a meaningful financial impact with 14 of India’s top 20 largest thermal power utility companies having experienced at least one water-shortage related disruption between 2013-2016, costing more than US$1.4bn in total potential revenue. This makes water shortage the fifth most frequent reason for forced outages in Indian thermal power plants during that time, J P Morgan said.The report also noted that shifting to water-free renewable sources of power such as solar PV will also likely play a long term role in reducing pressure on freshwater supplies in India. For example, under the IEA STEPS scenario, significant decreases in water withdrawals from nearly 15BCM to less than 7BCM in 2040 by the power sector are projected, due to an increasing share of power from renewables and more regulation on water use in thermal plants.

The Indian market closed in the red for the fourth straight session on Wednesday, tracking muted global cues.The S&P BSE Sensex fell over 600 points while the Nifty50 was down 183 points to close at 22,704.Sectorally, buying was seen in utilities, power, healthcare, and telecom stocks while IT, oil & gas and banks saw selling pressure. Stocks that hit fresh highs on Wednesday include names like JSW Infrastructure which was up over 2%, Coromandel International pared gains and closed flat with a negative bias and Power Finance fell over 1% after hitting a fresh 52-week high.We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout.We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Here’s what analyst Sanket Thakar (CMT, Founder- Alpha Bot Capital) had to say:JSW Infrastructure:JSW Infrastructure is in a stable uptrend but it's now going to achieve its previous chart pattern target and is also nearing its resistance zone of 310.The range of 300 and 310 can lead to a short-term profit booking by traders. If prices manage to break and stay above the upper trendline then the uptrend will continue. On the downside, support is seen below Rs 265. 110540933Coromandel InternationalCoromandel International had broken out of multiple chart patterns like Cup and Handle and Flag a couple of weeks ago.The overall trend is positive, and both the chart patterns are aiming at the target of 1,350 levels. On the downside, support is seen below 1,180. 110540930Power Finance CorporationPFC is in a strong uptrend on both long-term and short-term charts. On a short-term basis, the next two resistance levels on the upside are placed at 550 & 575, whereas support is at the lower trendline at 430. 110540923(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

India achieved a significant milestone in its defence capabilities as it successfully test-fired a RudraM-II air-to-surface missile from a Su-30 fighter jet of the Indian Air Force (IAF) off the coast of Odisha. The defence ministry confirmed that the flight-testing of the missile met all trial objectives, marking a crucial advancement in India's indigenously-developed solid-propelled air-launched missile system.Successful Flight Test Validates Indigenous TechnologiesThe RudraM-II missile incorporates state-of-the-art indigenous technologies developed by various DRDO (Defence Research and Development Organisation) laboratories. The successful flight-test, conducted at around 1130 hours on May 29, validated the propulsion system and control and guidance algorithm of the missile. The performance of the missile was confirmed through flight data captured by range tracking instruments including electro-optical systems, radar, and telemetry stations deployed at various locations, including on-board ships.Congratulatory Messages and Future ProspectsDefence Minister Rajnath Singh congratulated the DRDO, the IAF, and the industry on the successful test-flight of RudraM-II. He emphasized that this successful test has further consolidated the role of the RudraM-II system as a force multiplier for the armed forces. Secretary, Department of Defence R&D and Chairman, DRDO, Samir V Kamat also commended the DRDO team for their untiring efforts and contributions leading to the successful flight test.Rudram Missile - A Game Changer in Air-to-Surface MissilesRudram, India's first anti-radiation missile (ARM), is an Air-to-Surface missile developed by DRDO. ARMs like Rudram are designed to detect, track, and neutralise the enemy's radio frequency sources, including radar, communication assets, and other radio frequency sources. The missile uses a navigation mechanism consisting of a satellite-based Global Positioning System (GPS) and an inertial navigation system. It employs a "passive homing head" for guidance, enabling it to accurately strike targets even if the radiation source switches off during the engagement.Future Developments and Advanced VersionsWhile RudraM-1 primarily aims at Suppression of Enemy Air Defences (SEAD), advanced versions like RudraM-2 and RudraM-3 are under development with ranges of 350 and 550 km, respectively. The integration of Rudram missiles with fighter aircraft has been a collaborative effort of various DRDO facilities, IAF formations, and Hindustan Aeronautics Ltd. The development of these missiles began around eight years ago, with plans for future tests and inductions to enhance the IAF's air superiority tactical capability.The successful test-firing of the RudraM-II missile marks a significant achievement for India's defence capabilities. With ongoing developments and advancements in missile technology, India is poised to strengthen its position in the realm of air-to-surface missile systems, enhancing its national security and defence preparedness.

Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart.Support for Nifty is now seen at 22,675-700 and 22,500 levels. On the higher side, the immediate resistance zone is at 22,825-850 levels and the next psychological resistance is at the 23,000 mark, said Tejas Shah of JM Financial & BlinkX.The maximum call open interest was placed at 23,000 strike while the maximum put open interest was placed at 22,500 strike.What should traders do? Here’s what analysts said:Jatin Gedia, SharekhanNifty is in the process of retracing the rise it has witnessed from 22054 to 23111. The 38.2% Fibonacci retracement level is placed at 22707. We expect the Nifty to recover over the next few trading sessions. We believe that this is a minor degree correction and not a trend reversal.Rupak De, LKP SecuritiesDuring the day, heavy call writing activities were seen at the 23,000 and 22,800 strikes, while put writing activities were visible at the 22,800 and 22,700 strikes. The option data suggests that Nifty might expire around 22,800. On the other hand, a fall below 22,700 might trigger additional selling pressure in the market. Immediate resistance is placed at 22,800.Osho Krishan, Angel OneNifty has breached the neckline of the recent breakout and is now heading towards the mean of the 'Rising channel' at 22600, followed by the 20-day EMA at 22500, which is to be considered as the crucial support level. On the higher end, the bearish gap of 22825-22860 is to be seen as an intermediate hurdle, while the sturdy wall stays at the 23000 mark.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)