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Indian crypto platforms appear to be thriving in a regulatory grey zone coupled with lower taxes and extreme leverage in the futures & options segment, Zerodha founder and CEO Nithin Kamath said in a tweet on Tuesday, expressing his surprise over the kind of popularity crypto F&O has achieved."I hadn’t realised how popular crypto F&O has become. These Indian crypto platforms seem to be thriving in a regulatory grey zone, and because of lower taxes and extreme leverage in derivatives," Kamath tweeted, pointing to The Economic Times article.The ET story describes how crypto futures trading has whizzed past spot deals across all local exchanges offering derivatives of virtual digital assets (VDAs). In India's discreet, and sometimes furtive world of cryptocurrencies, a new story is playing out.A traction in crypto derivatives segment comes on the back of high profits being tasted by traders, escaping the high tax deducted at source (TDS) and paying a lower tax on profits. The charm of betting big with little money has pushed up futures volumes to three times or even more of spot volumes, this report said.Futures are leveraged trades where traders can take exposure of as high as 10 to over 50 times the margin amount they chip in, as against a spot transaction where the full consideration is paid. Here, the leverage is far higher than stock futures. Globally, some exchanges allow 100 times leverage.Besides a bullish market, what also fuelled futures in over the past few months is the readiness of domestic platforms to accept margins in Indian rupees.Also Read: Zerodha's Nithin Kamath calls for lower STT, higher leverage to boost trading volumes in cash, futuresIn crypto exchanges abroad, stable coins like USDT (and not fiat currency) are placed as futures margins. In India, exchanges spend the INR received as margin from traders to buy USDT, and cut a countertrade with a large global exchange like Binance to execute the futures trade. Thus, INR is converted into USDT to access a larger futures order book.Crypto exchanges in India do not disclose daily trade volumes, but it's estimated at $3-5 million for each of the half a dozen top exchanges. Exchange officials prefer not talking about futures. Of late, few exchanges have been advertising futures on social media and OTT platforms.Read more: Why are Indian traders flocking to crypto futures over spot deals?Crypto deals attract a TDS of 1% which, deducted from sale proceeds, is paid irrespective of whether money is made. However, no TDS is paid when a trader unwinds positions in futures as trading in a crypto derivative, though deriving its value from a crypto as underlier does not result in VDAs changing hands.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Shares of Ola Electric Mobility surged as much as 6.6% on Tuesday to Rs 51.80 on the BSE after the company announced that it has secured Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio, a move the company said will strengthen margins and profitability from the ongoing quarter of the current financial year.The certification, granted by the Automotive Research Association of India (ARAI) under the aegis of the Ministry of Heavy Industries, covers all seven Ola S1 Gen 3 scooters. Ola Electric highlighted in its exchange filing that the Gen 3 portfolio, which includes the S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh, represents 56% of its overall volumes and forms the majority of its current sales.With this, Ola Electric’s Gen 2 and Gen 3 scooter portfolio now stands PLI-certified. The company noted that the certification makes it eligible for incentives ranging from 13% to 18% of sales value until 2028. It added that this classification is likely to significantly enhance profitability from the second quarter of FY26 onwards.A spokesperson for Ola Electric Mobility Limited said, “Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability. This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices.”In the June quarter, Ola Electric reported a net loss of Rs 428 crore, which narrowed on a sequential basis but widened compared with the same period last year. The company said its revenue halved to Rs 828 crore from Rs 1,644 crore a year earlier but increased sequentially. Gross margins expanded both on a year-on-year basis and compared with the previous quarter.During its annual ‘Sankalp’ event, Ola Electric also announced new product launches, including the S1 Pro Sport with 5.2 kWh and 4 kWh, the S1 Pro+ 5.2 kWh, and the Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell. These are priced at Rs 1,49,999, Rs 1,69,999 and Rs 1,89,999 respectively. Deliveries of the S1 Pro Sport will begin in January 2026, while deliveries of the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh are set to start this Navratri.Also read | Ola Electric shares have halved in 2025. Analysts say Rs 57 within reach—should you buy?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Jakson Engineers on Tuesday said it will invest over Rs 8,000 crore for setting up a 6 GW integrated solar manufacturing plant in Madhya Pradesh. This is the largest solar manufacturing investment in the state, the company said in a statement. The company, part of energy and infrastructure solutions conglomerate Jakson Group, is investing over Rs 8,000 crore to establish a 6 GW integrated solar module, cell & wafer plant at Maksi Phase II in Madhya Pradesh, the statement said. The mega project will be developed in two phases across a 110-acre site, allocated to the company recently. Commencing site activities within 15 days, the company will commission manufacturing capacity of 3 GW of solar modules and 3 GW of solar cells in Phase I, with an investment of around Rs 2,000 crore. Phase II will include establishment of a 6 GW solar wafer plant along with an additional 3 GW modules and cells each, at an investment of over Rs 6,000 crore. The first modules from the plant are expected to roll out by May 2026, followed by cells in September 2026. "This is a momentous occasion for our company and a major leap forward for India's renewable energy sector," Sundeep Gupta, Vice Chairman of Jakson Group, said. Emphasising the strategic importance of the plant, Gagan Chanana, Joint Managing Director & CEO of Jakson Solar Modules and Cells, said, "Our fully integrated facility and unique 'four-in-one' business model as a manufacturer, developer, EPC, and O&M provider aims to contribute to meeting India's energy needs and help position the country as a global solar leader. This allows us to ensure quality, cut costs, and rapidly deploy new technology, boosting our energy security and self-reliance." Madhya Pradesh was selected for this landmark project due to its strategic central location, robust infrastructure, investor-friendly ecosystem, and progressive renewable energy policies. The plant will create a positive socio-economic impact in the region by generating over 1,000 jobs during the construction phase and employing around 1,400 people once operational. Established in 1947, Jakson Group has evolved from specialising in diesel generator manufacturing to becoming a multi-faceted energy solutions provider. The company's prowess encompasses distributed energy, solar power, eco-friendly energy sources, and alternative fuels, among others. The company has an extensive presence throughout India with six manufacturing facilities, over 30 sales offices, 12 international offices and a wide network of channel partners and dealers.