Espresso: RIL's solar step, and global demand for computers

RIL floats Reliance New Energy Solar

Reliance Industries (RIL) has incorporated Reliance New Energy Solar, a subsidiary for activities related to solar energy, according to a stock exchange filing.

RIL has committed investments of Rs 60,000 crore towards new energy businesses over the next three years. RIL Chairman Mukesh Ambani stated at the company’s annual general meeting on June 24 that solar energy will be a key area for four types of giga factories.

The first giga factory will be an integrated solar photovoltaic giga factory, where raw silica gets converted to poly silicon, to be further converted to ingot and wafers to make high efficiency solar cells for assembling into solar. “We will target costs that are the lowest in the world to ensure affordability of our solar modules,” Ambani had told RIL shareholders.

Surge in global PC demand: IDC

The surge in personal computer (PC) demand continued in the April to June quarter of 2021 despite global component shortages and logistics issues, according to  preliminary results from the International Data Corporation (IDC).

Technology research advisory IDC estimates that worldwide shipments of traditional PCs (which include desktops, notebooks, and workstations) reached 83.6 million units in the June 2021 quarter–up 13.2 percent compared to the same period last year.

Though annual growth remains high, growth has begun to taper off. The growth rate in the June 2021 quarter is significantly lower than it was in the March 2021 quarter (55.9 percent) and in the December 2020 quarter (25.8 percent).

IIP in May 2021 still below pre-pandemic level

The Index of Industrial Production (IIP) surged by 29.3 percent in May 2021 because of the low-base effect over the same period last year when the pandemic led to nation-wide lockdowns.

The IIP stood at 116.6 points in May 2021, compared to 90.2 points in May 2020. It is still below the 135.4 points in May 2019, according to data released by the National Statistical Office (NSO) on Monday. Though industrial production recovered in May, it is still below the pre-pandemic level of May 2019.

Rane Holdings’ Industry 4.0 initiatives

Auto ancillaries company Rane Holdings has completed its proof of concept (POC) for a centralised equipment efficiency solution, according to the company in its latest annual report.

The Industry 4.0 initiative will now get rolled out in other plants. Rane Holdings, headquartered in Chennai, is a components manufacturer for global automakers.

The company said a smart utility management solution is getting developed to monitor and reduce the energy, water and pneumatic utilisation. Similarly, its subsidiary Rane Brake Lining, and joint venture with NSK Japan (Rane NSK Steering Systems) are implementing end-to-end digital factory solutions.

DMart Ready to scale up slowly

Retail chain DMart’s grocery app Ready is scaling up gradually, according to a stock exchange filing by parent company Avenue Supermarts.

DMart Ready has focused on the Mumbai Metropolitan Region, Ahmedabad, Pune, Bengaluru and Hyderabad. The company said its revenue traction was solid in the first quarter aided by COVID-19 restrictions in the region during the second wave.

According to stock brokerage Axis Capital, Avenue Supermarts’ subsidiary sales increased to Rs 150 crore in the first quarter of 2021-22. This is an increase by three times year-on-year, and a 40 percent jump over the previous quarter ended April 2021.

Post-tax losses of the subsidiary are estimated at Rs 20 crore for the quarter ended June 2021, up by two times over the same quarter last year. Axis Capital derived the subsidiary sales numbers by deducting standalone revenues from consolidated revenues.

TCS wins deal in the Philippines

India’s largest IT exporter Tata Consultancy Services (TCS) will begin a commercial project with Converge ICT Solutions, a high-speed fibre broadband provider that has more than 50 percent market share in the Philippines.

Converge ICT Solutions will run on TCS HOBS, a digital subscription platform, to provide new services to its customers. Converge can then leverage partner ecosystems to venture into B2B2X models with simplified processes, and hyper-personalisation for its customers, TCS said in a press statement.

Paper mill modernisation in Ballarpur

ABB India has completed the commissioning of a mill modernisation project at Bilt Graphic Paper Products (BGPPL) in Ballarpur, according to a press statement.

ABB replaced an existing caliper control system with its Induction xP Plus profiler at the Ballarpur plant, where BGPPL produces premium uncoated woodfree writing and printing paper, and high-quality office paper from 100 percent virgin wood fibres.

The Induction xP Plus profiler will contribute to maximum induction heating in the shortest time, reduced product variability, and rapid corrections to sheet finishing profiles, ABB India stated. It is part of the ABB Ability Quality Management System.