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Easemytrip wins MP’s first electric bus tender, disrupts public transport
MUMBAI: The future of public transport in Madhya Pradesh just got a major upgrade! Easemytrip, through its subsidiaries Yolobus and Easy Green Mobility, has clinched the state’s first-ever intercity electric bus tender, bringing next-gen EV buses to the roads. The tender, issued by Sagar City Transport Services Limited (SCTSL), marks a historic shift toward sustainable mobility, tackling the challenge of limited electric bus supply in a rapidly growing market.
With the first fleet set to hit the roads in August 2025, these state-of-the-art electric buses promise a game-changing blend of advanced technology, superior passenger comfort, and eco-efficiency. This move aligns perfectly with India’s push for sustainable transit solutions and the state’s commitment to a cleaner, greener public transport system.
Easemytrip CEO & co-founder Rikant Pittie underscored the company’s vision for electrification, “Our entry into in-house electric bus manufacturing is a direct response to the strong demand we’ve observed through Yolobus. In a market where supply struggles to meet soaring demand, we recognized that this strategic shift was not just necessary to address immediate operational needs but also to capture a rapidly growing market. The electric vehicle market, valued at $331.9 million in 2024, is projected to grow at an impressive CAGR of 18.2 per cent. This move is further supported by robust government initiatives, such as the PM E-Drive, state-level policies, and PLI schemes, offering an excellent opportunity to localise production and create a fully ‘Make-in-India’ product. With our new subsidiary, Easy Green Mobility, and an initial investment of Rs 200 crore, we are committed to setting new standards in sustainable transit and expanding our presence in the booming EV and eMobility sector.”
This ambitious move strengthens Easemytrip’s position in the EV sector, reinforcing the ‘Make in India’ initiative while responding to the country’s growing demand for eco-friendly transport solutions.
Easy Green Mobility CEO Manoj Soni echoed the company’s excitement, “We are thrilled to collaborate with SCTSL and the Madhya Pradesh government in their commitment to advancing sustainable mobility and are grateful for their trust in Easy Green Mobility and Easemytrip. As we contribute to India’s ‘Make in India’ vision of becoming a global leader in green transportation, we are excited to roll out our advanced electric buses through Yolobus, providing a new experience to the people of Madhya Pradesh with eco-friendly travel solutions and comfortable buses. Through this partnership, we remain dedicated to enhancing public transit in the region by delivering an improved travel experience while promoting sustainable and innovative mobility solutions.”
With this strategic expansion, Yolobus plans to increase its reach to 400+ routes by the end of 2025, setting the stage for exponential growth in sustainable transit. As a proven operator with a strong fleet and a growing customer base, Yolobus is seamlessly integrating electric buses into its network to enhance mobility for both daily commuters and tourists.
Easemytrip’s latest initiative signals a bold leap forward in India’s EV revolution, reinforcing its leadership in the electric transportation sector. With demand for green mobility solutions surging, this move is poised to redefine public transport across the country.
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Microsoft faces worst quarter since 2008 financial crisis
Cloud giant battles soaring AI costs and fierce competition from nimble startups.
MUMBAI: When the tech titan starts looking a little wobbly, even the Magnificent Seven can feel the tremors because Microsoft is currently starring in its own sequel, “Clouds and Doubts.” Microsoft is on track for its worst quarterly performance since the 2008 global financial crisis, according to Bloomberg, as investors grow increasingly uneasy about rising capital expenditure and intensifying competition from nimble AI firms. The company has been pouring money into AI infrastructure, yet markets are questioning when these hefty investments will finally deliver stronger revenue growth.
At the same time, investors are shifting away from traditional software stocks amid fears that AI startups such as Anthropic and OpenAI are developing autonomous agents capable of replacing established products, including those from Microsoft. Jonathan Cofsky, portfolio manager at Janus Henderson Investors, noted growing concern that customers may bypass Microsoft and deal directly with AI vendors, potentially disrupting its core business and putting pressure on pricing and margins.
Microsoft’s stock has tumbled 25 per cent in the first quarter, putting it on course for its largest drop since a 27 per cent fall in the fourth quarter of 2008. It has also emerged as the weakest performer among the so-called Magnificent Seven technology stocks, while a broader index tracking the group has fallen 14 per cent over the same period. The shares slipped a further 1.7 per cent after markets opened on Friday, marking a potential fourth consecutive session of declines.
Cofsky pointed out that Microsoft has become more capital intensive and that improved investor confidence will hinge on assurances that software growth will not slow materially. Despite the sell-off, the stock is now trading at less than 20 times projected earnings over the next 12 months, its lowest valuation level since June 2016. Its valuation remains slightly above that of the S&P 500 Index, although it has recently traded at a discount to the broader benchmark for the first time since 2015.
Bloomberg data shows Microsoft’s capital expenditure, including leases, is expected to surge to $146 billion in fiscal 2026, up around 66 per cent from $88 billion in fiscal 2025. Spending is projected to climb further to $170 billion in fiscal 2027 and $191 billion in fiscal 2028, based on average estimates. Investors are growing cautious about such levels of spending without clearer signs of stronger growth.
Microsoft’s Azure cloud division has reported a slight slowdown in growth compared with the previous quarter, while its Copilot AI product has seen limited user traction, prompting internal changes aimed at improving performance. Ben Reitzes, an analyst at Melius Research, warned in a March note that Microsoft’s upside in Azure could be constrained as the company works to address challenges related to its AI models and Copilot offering, adding that these issues are unlikely to be resolved in the short term.
Of the 67 analysts covering Microsoft, 63 maintain buy ratings, three hold ratings and one a sell rating. The average 12-month price target of $592 implies a potential upside of more than 64 per cent, the highest on record based on data going back to 2009. The stock is also trading below its 200-day moving average by the widest margin since 2009.
Reitzes suggested the dominance of buy ratings may indicate complacency among analysts, while highlighting risks in Microsoft’s productivity and business processes segment as well as its More Personal Computing division. In contrast, Tal Liani of Bank of America reinstated coverage with a buy rating, citing durable multi-year growth prospects across cloud and AI. Jake Seltz, portfolio manager at Allspring Global Investments, maintained that Microsoft retains strong long-term value and that its AI strategy is likely to be validated over time, viewing near-term concerns as a potential opportunity for longer-term investors.
The report highlights a growing divergence in market sentiment, with optimism around long-term AI potential weighed against immediate execution risks and investor uncertainty. In the world of big tech, even the mightiest clouds can have silver linings but right now, Microsoft’s investors are scanning the horizon for clearer skies.
