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The India Meteorological Department (IMD) has issued a red alert for parts of Rajasthan, Punjab, Haryana, Chandigarh, Delhi, and West Uttar Pradesh. Over the next five days, severe heatwave conditions are expected, with temperatures likely to exceed 47°C in several areas.Temperature Predictions and Regional ImpactSenior IMD scientist Naresh Kumar reported, "Temperatures are currently above normal across North West India, and we had issued a red alert for the region over the past 2-3 days. The maximum temperature is likely to inch further up from 45°C and settle at 47°C in Rajasthan." In Punjab and Haryana, temperatures will gradually increase by 2 to 3 degrees after a slight drop due to a western disturbance. Uttar Pradesh also faces a red alert for the next five days, and an orange alert is issued for northern Madhya Pradesh.Health Advisories for Heatwave ConditionsHealth experts urge people to avoid stepping outdoors between 11 am and 4 pm. Dr. Neeraj Nishchal from AIIMS, Delhi, highlighted that health issues from rising temperatures could range from rashes, heat exhaustion, dehydration, to heat strokes. To minimize the impact, doctors recommend staying indoors, drinking fluids frequently, and wearing lightweight, light-colored clothing.Health Experts Warn of Heat-Related IllnessesHealth experts have advised people to avoid going outdoors between 11 am and 4 pm to prevent heat-related health issues. Dr. Neeraj Nishchal, a professor at AIIMS, Delhi, explained that rising temperatures can cause problems ranging from minor rashes and heat exhaustion to severe heat strokes. "The human body is well-designed to handle heat, but when environmental temperatures rise, the body's heat dissipation mechanism becomes overwhelmed," said Dr. Nishchal. "This can lead to serious problems like heat stroke, where body temperature exceeds 40°C, potentially causing multi-organ dysfunction."Precautions to Minimize Health RisksDr. Jatin Ahuja, an infectious disease specialist at Apollo Hospital, emphasized early signs of heat-related illnesses, such as heat cramps and heat exhaustion. He noted that these conditions are reversible if addressed promptly. Dr. Ajay Kumar Gupta from Max Hospital, Vaishali, reported an increase in patients suffering from heat-related issues, with some requiring hospitalization.To minimize risks, health experts recommend:Staying indoors between 11 am and 4 pm.Wearing lightweight, light-colored, loose cotton clothes.Using protective measures like hats, sunglasses, and umbrellas.Drinking plenty of water, even if not thirsty.Peak Power Demand Hits New HighDelhi's peak power demand surged to a record 7,557 MW at 3:33 pm today, driven by a heatwave affecting several parts of the national capital. According to the State Load Dispatch Centre's real-time data, this demand surpasses the previous record of 7,438 MW set on August 22 last year. Electricity companies predict that Delhi's peak power demand could exceed 8,000 MW this summer.Historic Power Consumption TrendsLast year, Delhi's highest-ever peak power demand was recorded at 7,695 MW on June 29, 2022. Today’s figure marks a significant milestone, as it is the highest demand ever recorded for the month of May. This is the third consecutive day that Delhi's peak power demand has crossed the 7,000-MW mark. The previous highest demand for May was 7,070 MW on May 19, 2022.Temperature Surge Driving Power UsageThe spike in power consumption is largely due to the rising temperatures across the city. In April, Delhi's peak power demand varied between 3,809 MW and 5,447 MW. This year, April saw a similar range, with peak demand between 3,388 MW and 5,422 MW.Possible Relief in Southern IndiaWhile the northern regions endure the heat, relief is anticipated in the south. The IMD forecasts heavy to very heavy rains, up to 12 cm, in Tamil Nadu and Kerala over the next 2-3 days, providing some respite from the summer heat.(With inputs from ANI)

Mumbai: Shares of logistics solutions provider Delhivery tumbled over 10% on Tuesday after the company's fourth-quarter results prompted some brokerages, including CLSA, to cut their price targets on the stock. The price targets after the March quarter results imply a 15-74% upside in the stock from Tuesday's closing price of ₹390.CLSA downgraded its rating on Delhivery to underperform from buy citing volatile growth in the express parcel segment."Margin improvement is volatile as the small impact on utilisation for its network impacts the margin as pricing power is limited," said the brokerage, while slashing its target price from ₹600 to ₹488.Some analysts are, however, optimistic about the company's prospects. "We think that what happened with Delhivery was one-off event where we saw a knee-jerk reaction from the market to its results," said Hemang Jani, director, Finazenn. "Its fourth quarter results have been good and the only vertical which was disappointing in terms of revenues and profitability has been its express parcel service."Shares of Delhivery were listed in May 2022 at ₹495.2 and have been trading below the listing price since October 2022.UBS retained its buy rating on Delhivery and raised its price target to ₹615 from ₹600 earlier."Delhivery surprised positively with strong turnaround in profitability based on strong incremental gross margins," said the firm. "Delhivery had 50% incremental gross margins in the transport business."Jani is positive about the outlook of the company."The capex of the company has peaked out and most of its key clients have raised money and will continue their business with the company," said Jani. "We are positive on the company and have a buy rating along with a target price of ₹550."

Mumbai: The Nifty Midcap 150 index hit an all-time high on Tuesday, extending its recent record-breaking run led by a run-up in shares of public sector companies. The index rose 0.3% to end at 19,413 - a record close, while the benchmark Nifty gained 0.1% to close at 22,529.05. The volatility index, or India VIX - market's fear gauge, jumped 6.3% to 21.81, suggesting traders see risks in equities in the near term.110316381In the past year, the Midcap 150 index has gained 7,077 points, or 57%, with 10 stocks such as Hindustan Zinc, Suzlon Energy, Vodafone Idea, BHEL and PB Fintech contributing 1,960 points, or nearly 28%, to the gains.

New Delhi: The Centre may restore financial support to electric two-wheeler makers Revolt Motors, Greaves Electric Mobility, and Amo Mobility under its Electric Mobility Promotion Scheme 2024 (EMPS 2024) but may bar others such as Hero Electric, Okinawa Autotech, and Benling India from all government schemes in future, an official said.This follows Revolt, Greaves and Amo returning wrongfully claimed subsidies to the government while Hero, Okinawa and Benling India are still to do so and have instead taken the government to the court.The government after an initial probe into violation of vehicle localisation norms mandated under the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME India) scheme issued notices for recovery of ₹469 crore subsidy distributed to these companies for sales made between 2020 to 2023.Hero, Okinawa and Benling have challenged the recovery notices.110312695"The process is underway to blacklist these errant companies from all government schemes. They have already been debarred from all schemes under the Ministry of Heavy Industries (MHI)," the official told ET.A spokesperson for Okinawa said, "We have filed a writ petition in Delhi High Court to recover our outstanding FAME II dues of upwards Rs 425 crore and our case is subjudice. Okinawa Autotech always has been compliant with the scheme guidelines and the same was observed by MHI's committee headed by Joint Secretary, Mukta Shekhar". "Okinawa has not availed incentives from the beginning of the last financial year and we believe the electric two-wheeler industry has reached a stage where it is self-sufficient," the spokesperson said. According to MHI officials, the report by Joint Secretary Mukta Shekhar has not been accepted by the Centre and a fresh probe into the FAME scheme has been ordered. Further, the new investigation did not concur with findings of the Shekhar report."Since the matter is subjudice, we cannot comment on this," a Hero Electric spokesperson said.Amit Kumar, CEO, at Benling India said, "The whole matter is under the scrutiny of the Delhi High Court. We would not like to comment on any matter that is subjudice".On restoring subsidy benefits to some electric two-wheeler makers, the official cited above said the heavy industries ministry is awaiting the finance ministry's nod on the matter. "Process to bring them back under the subsidy fold is underway," the official said, adding Revolt, Greaves and Amo Mobility have paid back around Rs 170 crore to the government.The government launched the first FAME scheme in 2015 with a budget of ₹895 crore. FAME II, an expanded iteration of the programme, was rolled out in 2019 with an outlay Rs 10,000 crore. These schemes were aimed at supporting the sale of locally produced electric vehicles (EV).Subsidy disbursals under the scheme were tied to a phased manufacturing programme (PMP) in line with a progressive increase in localisation levels over time.As per the government, companies did not adhere to the PMP, but continued seeking FAME subsidy, defeating the scheme's intent.FAME II was in force from 2019 to 2024. It was successful in supporting sales of nearly 1.4 million e-2W, 161,000 e-3W, and 20,556 electric four-wheelers. FAME II centred on a PMP which gradually increased the localisation content in EVs made in the country.

Thousands of Iranians turned out to mourn President Ebrahim Raisi in the city of Tabriz on Tuesday, after he was killed in a helicopter crash near the Azerbaijan border at the weekend along with his foreign minister and seven others. State TV broadcast live images of mourners, many of them dressed in black, beating their chests while a truck covered in white flowers carrying the caskets wrapped in the national flag was driven slowly through the crowd. "Everyone has come to bid farewell to the martyred president and his companions regardless of their faction, ethnicity or language," said Tabriz lawmaker Masoud Pezeshkian. However, although state TV said a large crowd appeared in Tabriz, some insiders see a stark contrast in public grief compared with past commemorations for the deaths of other senior figures in the Islamic Republic's 45-year history. While Iran proclaimed five days of mourning for Raisi, there was little of the emotional rhetoric that accompanied the death of Qasem Soleimani, a senior commander of the elite Revolutionary Guards killed by a U.S. missile in 2020 in Iraq, whose funeral drew huge crowds of mourners, weeping with sorrow and rage. Raisi's body was flown from Tabriz, the closest major city to the remote crash site, to Tehran airport before heading to the holy Shi'ite Muslim city of Qom. From there, it will return to the capital to lie at Tehran's Grand Mosalla Mosque before being transferred to his hometown of Mashahd, in eastern Iran, for burial on Thursday. Mourners carried posters bearing images of Raisi, Foreign Minister Hossein Amirabdollahian, the Friday prayer leader of Tabriz city and other officials who were also killed in the crash. DEEPENING CRISIS The death of the president came at a time of deepening crisis between the clerical leadership and society at large over issues from tightening social and political controls to economic hardship. To restore damaged legitimacy following a historic low turnout of around 41% in March's parliamentary election, Iran's rulers must stir up public enthusiasm to secure high participation in the early presidential election that will be held on June 28. But Iranians still have painful memories of the handling of nationwide unrest sparked by the death in custody of a young Iranian-Kurdish woman in 2022, which was quelled by a violent state crackdown involving mass detentions and even executions. Widespread public anger at worsening living standards and pervasive graft may also keep many Iranians at home. Some analysts say that millions have lost hope that Iran's ruling clerics can resolve an economic crisis fomented by a combination of U.S. sanctions, mismanagement and corruption. Raisi enacted the hardline policies of his mentor, Supreme Leader Ayatollah Ali Khamenei, aimed at entrenching clerical power, cracking down on opponents, and adopting a tough line on foreign policy issues such as the nuclear talks with Washington to revive Iran's 2015 nuclear pact. Any candidate entering the race must first be vetted by the Guardian Council, a hardline watchdog that has often disqualified even prominent conservative and moderate officials, meaning the broad direction of policy is unlikely to change. While widely seen as a leading candidate to take over from the 85-year-old supreme leader when he dies, two sources said Raisi's name had been taken off a list of potential successors some six months ago because of his sagging popularity. Raisi's death has introduced "great uncertainty" in the succession, analysts said, stirring rivalries in the hardliners' camp over who will succeed Khamenei as the country's ultimate authority.

A group of Tesla shareholders are asking investors to vote against a compensation package worth more than $40 billion for CEO Elon Musk, saying that it's not in the electric vehicle maker's best interest. Tesla is struggling with falling global sales, slowing electric vehicle demand, an aging model lineup and a stock price that has tumbled 30% this year. The shareholder group, which includes New York City Comptroller Brad Lander, SOC Investment Group and Amalgamated Bank, said in a letter to shareholders that ratification of Musk's pay package would do nothing to promote Tesla's long-term growth and stability. There's also concern that approval of the pay package will potentially lead to lawsuits arguing that it is corporate waste. And Musk is viewed as a part-time CEO at Tesla, with his time increasingly being spent on other business commitments, the letter said. "Shareholders should not pretend that this award has any kind of incentivizing effect-it does not. What it does have is an excessiveness problem, which has been glaringly apparent from the start," the group said. They noted that if shareholders ratify the compensation package, it's possible that another plan will be put forth next year. "Given Tesla's history of exponentially larger awards, Musk may well ask for another award," the group said. The group is also asking investors to vote against the reelection of board members Kimbal Musk, Elon's brother, and James Murdoch, a former executive at media company Twenty-First Century Fox. Last month Tesla asked shareholders to restore Musk's pay package, which was valued at $56 billion at the time, that was rejected by a Delaware judge this year. At the time, it also asked to shift the company's corporate home to Texas. The changes will be voted on by stockholders at a June 13 annual meeting. Tesla posted record deliveries of more than 1.8 million electric vehicles worldwide in 2023, but the value of its shares has eroded quickly this year as EV sales soften. The company said it delivered 386,810 vehicles from January through March, nearly 9% fewer than it sold in the same period last year. Future growth is in doubt and it may be a challenge to get shareholders to back a fat pay package in an environment where competition has increased worldwide. Starting last year, Tesla has cut prices as much as $20,000 on some models. The price cuts caused used electric vehicle values to drop and clipped Tesla's profit margins. In April, Tesla said that it was letting about 10% of its workers go, about 14,000 people.