Zypp Electric, a leading EV-as-a-service platform in India, has reached a significant milestone by completing over 20.5 million zero-emission deliveries in the last year. With a focus on sustainable logistics, Zypp plays a key role in reducing the carbon footprint of last-mile delivery and currently handles 15-20% of quick commerce orders in the Delhi-NCR region.

The quick commerce sector in India, valued at $60-70 billion, is witnessing rapid growth and is expected to expand to $25-55 billion by 2030. Companies like Zypp Electric are driving this transformation by improving delivery efficiency, lowering business churn rates, and promoting eco-friendly logistics solutions to meet the demands of this booming market.

Zypp Electric has significantly reduced carbon emissions through its strategic partnerships with major quick commerce players like Zepto, Blinkit, Big Basket Now, and Instamart. The company has helped cut 2.5 million kilograms of carbon emissions over the past year. With Zepto, Zypp completed 10.4 million deliveries, saving 11.95 lakh kg of carbon, while Blinkit achieved 7.19 million deliveries, reducing emissions by 8.29 lakh kg.

Big Basket Now contributed 2.76 million deliveries, resulting in a 4.22 lakh kg reduction in carbon, and Instamart’s 2.15 lakh deliveries helped cut over 72,000 kg. Zypp is not only advancing eco-friendly logistics but also providing substantial earning opportunities for delivery partners, with top earners during the festive season reaching Rs 99,949 per month, demonstrating the platform’s impact on both the quick commerce and gig economy sectors.

Akash Gupta, Co-Founder & CEO of Zypp Electric, said, “I remember when we had our 1st meeting with all our amazing quick commerce partners Zepto, Blinkit, BB Now & Swiggy Instamart, we were sure that this sector will revolutionize the delivery market. This achievement is not just a number; it signifies our relentless pursuit of sustainability in quick commerce. At Zypp Electric, we believe that quick and sustainable logistics is the future of e-commerce. Our partnerships have shown that we can break the myth that speed and sustainability are mutually exclusive. As we move forward, we are excited to lead the charge in making electric deliveries the norm in India, and I would personally cherish delivering the 21st million delivery landmark myself with my leadership team.”

Stock market investors are busy figuring out how many trading sessions there are left in 2024 just before the start of a new month. For these investors, the total number of stock market holidays remaining in 2024 is crucial.

There will only be one stock market holiday in December 2024, per the list of stock market holidays for 2024. This is on Christmas Day, December 25, 2024.

As a result, on December 25, 2024, the only stock market holiday in 2024, trading will not be conducted. Also, on Saturday and Sunday, the Indian stock markets stays closed.

Last trading session of the month of november

Dalal Street heavyweights drew heavy buying on the final session of November 2024, despite the US stock market holiday, and helped frontline indices close higher.

The BSE Sensex closed 699 points higher at 79,743, on the hand Nifty 50 index ended 208 points higher at 24,122 after opening marginally higher, and the Nifty Bank index gained 117 points to close at 52,023.

10 market holidays in December

Given the December 2024 calendar, four Saturdays would fall on the 7th, 14th, 21st, and 28th of the month, while five Sundays would fall on the 1st, 8th,15th, 22nd, and 29th.

The BSE and NSE will not be tradind on 10 of the 31 days in December 2024 if we include the one stock market holiday that falls in that month. Just 21 training sessions remain in 2024, according to stock market holidays on exchange website.

Movement of the market

On the BSE, the advance-decline ratio was 1.44 for six consecutive days, during which time dwindling shares outnumbered declining shares. Stocks of the Adani group, including Adani Green Energy, Adani Energy Solutions, and Adani Total Gas, surged up to 23 per cent after being added to the F&O segment on November 29, 2024.

New Delhi: Abu Dhabi’s International Holding Company (IHC), one of the largest sovereign funds that manages assets close to USD 100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate’s founder chairman Gautam Adani.

“Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors,” IHC, one of Adani Group’s key foreign investors, said in a statement.

“As with all our investments, our team continues to evaluate relevant information and developments. At this time, our outlook on these investments remains unchanged.” IHC had, in April 2022, invested about USD 500 million each in the renewables arm Adani Green Energy and power company Adani Transmission and a further USD 1 billion in the group’s flagship Adani Enterprises. Later, it sold its 1.26 per cent stake in AGEL and 1.41 per cent in ATL, now called Adani Energy Solutions Ltd, but hiked its stake in Adani Enterprises Ltd to over 5 per cent.

The IHC statement comes soon after Adani group emphasised that its chairman and his aides have not been charged under the US Foreign Corrupt Practices Act but faced three other charges, including securities and wire fraud that are punishable with monetary fines.

About The US Department Of Justice’s Indictment Filed In New York Court

The US Department of Justice’s (US DoJ) indictment filed in a New York Court last week does not mention Gautam Adani, founder chairman of the ports-to-energy conglomerate, his nephew Sagar or Vneet Jaain in any count related to conspiracy to violate the FCPA, AGEL – the firm at the heart of allegation of USD 265 million bribes allegedly being paid to Indian officials to secure solar power sale contracts that could benefit bring in USD 2 billion of profits over 20 year period to the firm, had said in a filing to the stock exchange.

The three, who are executives at AGEL, have only been charged with securities fraud conspiracy, wire fraud conspiracy, and securities fraud, the company said. In general, the penalties for such charges are less severe than bribery.

Gautam and Sagar also face a civil complaint over violation of sections of the Securities Act and aiding and abetting Adani Green to violate the Act, the company had said.

Adani Group last week denied all allegations as baseless and said it would seek legal recourse to defend itself.

Sri Lanka Ports Authority Expresses Its Confidence In Its Partnership With Adani

Meanwhile, other international partners have also expressed their continued support. The Sri Lanka Ports Authority has expressed its ongoing confidence in its partnership with Adani, as the Indian group plays a vital role in expanding the country’s port infrastructure.

With USD 1 billion investment in the Colombo terminal, the project is poised to be the largest foreign direct investment in Sri Lanka’s port sector.

Sri Lanka Ports Authority chairman Admiral Sirimewan Ranasinghe (Retd) has reportedly stated that there are no discussions regarding the project’s cancellation. The project will be operational in the next couple of months.

Tanzanian Govt Reaffirms Its Commitment

Also, the Tanzanian government has reaffirmed its commitment to its agreements with Adani Ports, as it feels that there are no concerns regarding the ongoing projects and that all contracts fully comply with Tanzanian law.

In May 2024, Tanzania and Adani Ports finalised a 30-year concession agreement to operate Container Terminal 2 at Dar es Salaam port.

Additionally, Adani Ports acquired a 95 per cent stake in Tanzania International Container Terminal Services, a state-owned entity, for USD 95 million.